HomeMy WebLinkAbout1679 (a) The total number of cor~don,iniumt units
included in the condominium upon auch amendment being
recorded.
;
(b) A survey of the land and a graphic description ~
of the improvements in Nh3ch units are located ~hich
identifiea each unit by lettar, name, or number, so that }
no unit beara the aame deaignation aa any other unit,
and a plot plan thereof, or in sufficient detail to
identify the commaon elementa of each unit and their
relative locations and approaimate dimenaiona, aa to
- the additional landa arid the improvementa located
thereon aubmitted to condominiwn oxnerahip by auch amend-
ment.
(c) The undivided ahare and interest in the condominium
property appurtenant to each apartment, and the percentage
obligation Por com~nan expenaea attributable to each con-
dominium apartment, folloMing auch amendment. ~
18. Association and Non-Exclusive Nin~e_t
~-Nine Year Lease Agreement.
The Asaocia on as en er n a on- c7us3ve
L'ong erin aae gree+-
ment Nith FIRST NATIONAL BANK OF FORT PIERCE, as Trustee, under Truat
Agreement dated the 17th day of November, 1970, and lrnoMn ae Trust
Number 1, as Lessor, Mherebq certain possessory and use interest are
granted in the Demised Premises described therein. The Non-Exclusive
Ninety-Nine Year Leaae Agreement ia Por the en~oyment, recreation, uae
and beneFit of the members of the Association in accordance with the
terma thereoP.
19. Termination. The Condominium may be terminated in the
folloxing manners~ in addition to the manner provided by the Condominium
ACt:
19.1 Deatruction. If it is determined as elsewhere provided
that the apar men u lding shall not be reconstructed because of
maJor damage, the Condominium plan of oMnership Mill be terminated ~
without agreement.
19.2 Agreement. The Condominium may be terminated at any
; time by the approval in writing oP all record~owners of apartments
~ and all record o~ners of mortgages on apartmenta. Notice of a
~ meetirig at Nhich the proposed termination is to be considered shall =
; be given not leea than thirty (30) days prior to the date of such ~
~ meeting. Provided that the approval of owners of not lesa than ~
~ seventy-five (759~) percent of the comnon elements, arxi the approval
of all record oMners oP mortgages u n the apartments, are obtained
at the meeting or Mithin thirty (30~days thereafter, then the
approving owners ahall have an option to buy all oP the apartments
of the oMners not approving of termination, said option to continue
for a period of sixty (60) days from the date of such meeting. #
Approval by an oNner of an apartment unit, or of a mortgage en-
cumbering an apartiaent unit, ahall be irrevocable until eapiration
oP the aPorerecited optlon to purchase the apartment of oxnera not
~ so approving, and if the option to purchase such apartment ia
exercised, then such approval shall be irrevocable. The optlon to
~ purchase the apeirtmenta or units not approving of terniination ahall
~ be exercised upon the followir~g terms:
~ ~
~ (a) Exerciee oP option. The option shall be
~ exerciaed y e very or ma ling by reglstered mail ~
~ to each of the record owners of the apartments to be ~
purchased an agreement to purchase signed by the re-
~ cord owne ra of apartmenta Mho MI 11 part ic ipate in the
~ , purchase. Such agreement shall indicate Mhich apart-
~ menta will be purchased by each participatir~g oxner
and shall require the purehase of all apartmenta oMn-
~
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6~~~193 2618
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