HomeMy WebLinkAbout1493 11. Reconatruction or repair after casualty. ~
11.1 Determination to reconatrtict or repair. If any part oP
the Condomin um proper y s e aaiage y caaualtq, Mhether or
not it shall be reconatructed or repalred ahall be determined in
the folloMing manner:
(a) Common eleme~t. If the damaged improvement
is a common e emen , e damaged property shall be recon-
structed or repaired, unleas it is determined in the
manner elaewhere provided that the Condominium shall be
terminated.
(b) (1) Lesser damage. IP the damaga3
improvemen a e apar- ~ment bui lding and
iP ~partmenta to r+hich fiPty percent ~50~)
of the com~non elements are appurtenant are
found by the Board of Directors of the
Association to be tenantable, the dan~ged ~
propertq shall be reconatructed or repaired,
unleas Within sixty (60) daya after the
casualty, it is determined by agreement in ~
the manner elseNhere provided that the Con-
dominium shall be terminated. `
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(2) Ma~or dame~ge. If the dame~ged im- ~
provement a e apar ment building and if
apartment to which more than fiPty ~50~)
percent of the co~non elements are appurtenant
~ are fourid by the Board oP Directors to be not ~
tenantable, then the damaged property will
not be reconstructed or repaired, and the Con-
~ dominium Nill be terminated Mithout agreement
' as elsewhere provided, unless Mithin sixty
~ (60) days after the casualty, the oxners of
F eighty percent (80~) of the common elements
~ agree in Nriting to such reconatruction or }
¢ reFair. ~
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_ (c) Certificate. The Insurance Trustee may rely upon
~ a certifica o e Association made by its President arxi
- attested by ita Secretary as to ~hether or not the damaged ;
~ property is to be reconatructed or repaired. '
11.2 Plans and specifications. Any reconatruction or ~
~ repair must e su s an ~aI y n accordance Mith the plans and :
specificationa for the original building, or, in lieu thereof
,
according to plans and specifications approved by the Board of
~ Directora of the Asaociation, and if the damaged property is in
_ the apartment building, by the orrners oi' not less than eighty
~ percent (80~) of the common elements, including the oxners of
s:,
all damaged apartments, together with the approval of the ;
- institutional mortgagees holding first mortgages upon all dame?ged '
apartments, Nhich approval shall not be unreasonably xithheld.
- 11.~ F.esponsibilit~r. If the damage is only to thoae
parts of one apar men or which the responsibility of main-
~ tenance and repair is that of the apartment owner, then the
; said o~rner shall be responsible for reconstruction and rep~e?ir
after casualty. In all other instances the responsibility 3
oP reconstruction and repair after casualty shall be that of
- the Association. - ;
11.4 Estimates of costs. Immediately after a deternd- ;
- nation is ma e o re u or repair damage to property fbr
= which the Association has the responsibility of reconatruc-
tion and repair, the Association ahall obtain reliable and
= detailed estimates oP the cost to rebuild or repair.
- 11.5 Assessments. If the proceeds oP insurance are not ?
suPficient o e ray e estimated costs oP reconatruction ?
~s and repair by the Association, or if at any time during re-
- construction and repair, or upon completion of reconatruc-
tion and repair, the funds for the payment o~ Rt sts of
gooK~9~Pa~E1491
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LAW OFFICES OF GOLDSTEIN. FRANKLIN. CHONIN 3 SCHRANK, P. A.. 2020 ~~ORTHEAST 163no STREET, NORTFI MIAMI BEAGH. FLORIDA 33162