HomeMy WebLinkAbout1495 (4) Surplus. It ahall be presumed that
the first mon ea diaburaed in payment of coats
of reconatruction and repair shall be from
inaurance proceeda. IP there la a balance
in a conatruction Pund after payment oP all
coats oP the reconatruction and repdir Por
Mhich the fund is eatabliahed, auch balance
shall be distributed to the beneficial o~+ners ,
af the fund in the manner elaexhere atated;
except, hoNever, that the part oF a diatri-
bution to a beneficial o~ner that is not in
excess of assessments paid by such o~mer to
the conatruction Pund shall not be made pay-
able to any mortgagee.
(5) Certificate. NotMithstarxiing the ~
provisiona o s natrument, the Insurance
Trustee ahall not be required to determine ~
Mhether or not sums paid by the apartment ;
ormers upon assesaments ahall be deposited ~
by the Association Mith the Inaurance ~`rustee, ,
nor to determine Whether the diabursements ~
from the construction f~nd are to be upon '
the order oP the Association, or upon t-`:~
approval oP an architect or otherMiae, nor
r+hether a disburaement is to be made Prom the
conatruction fund nor to determine the payee
nor the anaunt to be paid. Instead, the
t Inaurance Trustee may rely upon a certiPicate ~
~ of the Association made by ita President and
F Secretary as to any or all of such matters and =
stating that the su~ to be paid are due and
~ properly payable and stating the name of the
payee and the amount to be paid; provided,
that when a mortgagee is required in thia in-
z strument to be named as payee, the Inaurance
Trustee ahall also name the mortgagee aa a
~ payee of any distribution of inaurance proceeds
~ to a unit ormer; and further, provided, that
= when the Association, or a mortgagee that ia j
~ the beneficiary of an insurance policy Mhose ~
~ proceeda are included in the construction f'ur~d,
: so requires, the approval oP an architect ~
named by the Association ahall be Pirat ob-
tained bq the Association prior to diaburse- ~
r~ ments in payment of coats of reconatruction ~
~ and repair. ~
12. Use Restrictions. The use of the Condominium property shall ~
- be in acco ance M e folloMing provisions as long as the Condominium #
a exists and the apartment building in uaellil condition eaists upon the '
~ land: ~
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12.1 Apartmenta. Each oP the apartment units shall be occu- ;
~ pied only as a s ng e family private drrelling. Except sa reaerved :
to Developer, no apartment unit may be divided or subdivided ~
= into a smaller unit. ~
_ i
= 12.2 Comanon elementa and limited comnon elements. The ;
- common elemen a a m comrnon e emen a a used ~
only for the purposes for Mhich they are intended in the fur- ;
~ nishings of aervices and facilities Por the en~oqment of the F
- apartments. ~
~ 12.? Children. No persona Mho have not yet attained the ~
~ age of thir een ) y~ars shall be permitted to reside in any f
~ of the apartments except xith the xritten conaent oP the Board
~ ~ of Directors of the Asaociation, or oP the Developer, prov3ded, ~
;`Y ~ such rn•itten conaent Mhen once given ani relied upon ~n connec- ;
tion Mith the purchsae and acquiaition of a condominium apart- ~
_ ~ ment unit may not ther~aPter be revoked or terndr~ ted Nithaut ~
~o the consent oP the apartment oMner, and provided, further, that :
om child ren under such age may visit and temporarily reaide in an ;
- apartment unit rovided such temporary reaidence ahall not ex- ~
ceed thirty (~O~ days xithin any consecutive tMelve-month peri-
od.
LAW OFFtCES OF GOLDSTEIN. FRANKLIN. CHONIN 3 SCHRANK, P. A., 2020 NORTHEAST 163nD STREET, NORTH MIAMI BEAGH, FLORIDA 'J3f62 , i
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