HomeMy WebLinkAbout2621 (a) The total number of cor~doininiumt units
included in the-condominiwa upon auch amendment being
recordad.
(b) A survey of the land arid a graphic description .
of the improveraents in Nhich units are located which
identifiea each unit by letter, name, or nwaber, ao that
no unit bears the same deaignation aa any other unit,
and a plot plan thereof, or in suPficient detail to
identify the common elementa of each unit arxi their
relative locations ar?d approximate dimenaions, as to
the additional lands and the improvements ~ocated
the~eon subinitted to condominium orm~rship by such amend-
ment. ~
- (c) The undivided ahare and intereat in the condominium
property appurtenant to each apart~ent, and the percentage
~ obligation Por conuaon expensea attributable to each con- .
dominium apartment, PolloMing such amendment.
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18. AsaoLiation and Non-Exclusive Ninet -Nine Year Lease A ree~ent.
The Associa on as en ere 3n a on- c us ve ong erm ase gree-
ment Nith FIRST NATIONAL BANK OF FORT PIERCE, as Trustee, under Truat
Agreement dated the 17th day ot November, 1970, and knot~m as Trust
Number 1, as Lesaor, Mhereby certain possessory and use interest are
granted in the Demised Premises. described tt?erein. The Non-Exclusive
Ninety-Nine Year Leaae Agreement is for the en~oyment, recreation, use
and benefit of the members oP the Asaociation in accordance with the
terms thereof.
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19. Termination. The Condominium may be terminated in the '
folloxing manners, n addition to the manner provided by the Condominiwa _
ACt:
19.1 Destruction. IP it is deterffined as elsewhere provided
that the apar men~ u ldir~g shall not be reconstructed because of
ma~or damage, the Condominium plan of o~+nership Mill be te~nina~ed -
without agreement.
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19.2 Agreement. The Condominium may be.terminated at any
time by the approval in Nriting of all record owner~ of apartments
and all record o~rs oP mortgages on apartments. Notice of a
~ meeting at which the proposed termination is to be considered shall _
be given not leas than thirty (30) daqs prior to the date oP such
, meeting. Provided that the approval of oxners of not leas than
I seventy-Pive (75¢) percent of the com~non eYements, and the approval
of all record oxnera of mortgages u n the apartments, are obtained
at the meeting or within thirty (30~days thereafter, then the ~
approving owners shall have an option to buy all o~ the apartments '
of the ormers not app~oving oP termination, said option to continue
E ~ for a period of sixty (60) days from the date of such meeting.
Approval by an or~mer of an apartment unit, or of a mortgage en-
cumbering an apar~ment unit, ahall be irrevocable until e~cpiratio n
of the aforerecited option to purchase the apartment oP oxners not
so approving, and iP the option to pur~chase such apartment is
exercised, then such approval shall be irre~cocable. The option to
~ purchase th~ apartments or units not approving of termination shall ~
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~ be exercised upon the Po1loNing terms: ~
(a) Exercise of option. The option shall be
exercised y e very or ma ling by registered mail -
to each of the record o~rnera of the apartments to be
purchased an agreement to purchase signed by the re-
cord or~ers of apartments Nha r?ill participate in the
purchase. Such agreement shall 3ndicate which apart-
ments Mill be pui*chased by each participating oWner
and ahall require the purchase of ~lI apartments own- ~
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-22- 6~~~193 ~618
LAW OFFICES OF GOLDSTEIN. FRANKLIN. CHONIN A SCHRAT~K. P A. 2020 NORTHEAST f63A~ S:REET NORTH M1AMf BEAGH. FLORIDA 33162
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