HomeMy WebLinkAbout0824 5. Section XVII, MISC$LLANSOUS PROVISIONS, Subsection E,
1
shal~ read in its entirety as follows;
"XVII.
"MISCELLAN~OUS PROVISIONS
"In the event that any taxing ~uthority shall assess
ad valorem taxes on a condominium unit (the individual
lot toqether with the lot owner's ~ai~iaea interest in
the common elementa), the Association will not assesa
the member for real or personal property tax assessed
againet the condominium project nor will the Association
maintain the eacrow account for payment Qf same as set
forth in subparaqraph "A" hereof. Nothing herein shall
be construed, however, as qiving to any unit owner the
right of contribution or any right of adjustment aqainst
any other unit o~wner on account of any deviation by the
taxing authorities for the valuations herein prescribed,
each unit owner to pay such ad valorem taxes and special
assessments as are separately assessed against his "con-
dominium parcel" as set out h~.nabove.
"For the purposes of ad valorem taxation, the -
interest of the owner of a"condominium parcel" in his
"condominium unit" and in the "common elements" shall
be considered as a unit. T'h e value of said unit ahall
be equal to the percentage of the value of the entire
condominium, including land and improvements as has
been assigned to said unit and as set forth in this
Declaration. The total of all of said percentaqes
~ equals 10096 0~ the value of all of the land and improve-
ments."
;
~
€
~ 6. Section7~II, MISCELLANEOUS PROVISIONS, Subsection J, shall
~ read in its entirety as follaws:
~~~I~ -
MISCELLANEOUS PROVISIONS .
"~he Association, ae Lessee, has entered into a long-
term lease (fifty years) with the Developer described in
.
~ Exhibit "E" attached hereto and made a part hereof. The
~ Develop~r has constructed or has agreed to conatruct
recreational facilities consisting of a swimming pool and
cabana club on the demised premises, subject to the te~ns
~ of the said long-term lease. Such recreational facilities
~ are for the use and benefit of unit owners, (but not
~ exclusively so) as the Developer reserves the right to
~
~ ~i~ 8~ ~
~ - ~i~ ~
- 3 - . .
~
_ . - - - . . _ _ _ _ _a.__, ; ~ ,
. ,~r .
. . e k~
.s'~~w~.^..~~: ss.~~~:. ~ ~~f-.> . _ .~_'~~r.~' ~
ns., K T~ _