HomeMy WebLinkAbout1499 (d) Screening Feea. The Asaociation shall require the ?
deposit o a reasona e screening fee simultaneously with the
giving of notice of intention to sell or lease, or of trans-
fer by gift, devise or inheritance, for the purpose of de-
. fraying the Association'a expenses and providing for the time
involved in determining Nhether to aprove or disapprov~e the
transaction or continued ormership by a transferee, said
screening fee to be a sum equal to one (1¢) percent
of the sales price of a condom~n-ium apartment unit being sold,
or t~o (2~K) percent of the annual rental in the event
of a lease of a condominium unit, provided, thai the minimum
screening fee shall not be leas than One .Hundred (~100.00)
Dollars and the msucimum fee s~~r~31 not exceed One H~ndred
Fifty (~150.00) Dollars in connection Nith the rental of a
condominium unit, and said fee shall be in the sum of ~
One Hundred (~100.00) Dollars in the event of transfer by
gift devise, or inheritance. The Association has contracted ;
to pay over the said screening fee to the Contractor under #
the terma and provisions of a management contract, Nhereby ;
the said Contractor shall process applications for the
sale, transfer or leaae of condominium apartment units,
acreen ths propoaed purahaaer, tranaferea or lease~,
and prepare the instruments called for by the Declar-
ation of Condominium to be supplied by the Association
in the event of approval of such application, provided,
hoNever, the provisiona of this paragraph ahall not
~ apply to, and there shall be no screening fee payable
~ in connection with, the Iease or sale of a condominium
~ apartment unit by the D~veloper, nor ~ith the leaae or
' sale of a condominium apartment by an institutional
- lender which has acquired such apartment by foreclosure
5 or by transfer in lieu of foreclosure proceedings, or
* a sale or lease of an apartment by the condominium association.
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{ (e) Failure to give notice. If notice to the Association
t as hereina ove requ re s no given, then at any time after
~ receiving knoxledge of a transaction or event transferrir~g
~ ownership of an apartment, the Association, at its election ar~d
~ without notice, may approve or disapprove the transaction. If
5 the Association disapproves the transaction, the Association j
~ shall proceed as if it had received the required notice on ;
~ the date of such disapproval. Any sale, mortgage or lease ;
which is not authorized pursuant to the terma ard provisions
~ of this Declaration shall be void unless subsequently approved
in writing by the Association.
pproval by Association. If the Association sha11
1?.? Disa
disapprove a rans er o owners p o an apartment, the matter
shall be disposed in the following manner: t
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(a) Sale. If the propoaed transaction ia a sale and '
if the notice of sale given by the apartment oxner shall so
demand, then Nithin thirty (?0) days after receipt of such
notice and information the Association shall deliver or
mail by registered mail to the apartment o~ner an agreement :
- to purchase the apartment concerned by a purchaser approved by '
:;~j the Association, or an agreement to purchase signed in behalf
of the Association by its President and attested by ita :
Secretary, in which event the apartment o~+ner shall sell the
apartment to the named purchaser at the price and upon the
terms stated in the disapproved contract to sell, eacepting ~
~ that at the option of the named purchaser the purchase price ;
~j ' may be paid in cash at closing. ;
_ : ~ j
~y (1) The sale shall be closed within thirty (?0)
_ Q days after delivery or mailing oP the agreement to pur-
chase, or upon the date designated in the disapproved
- ~ contract, Mhichever date shall be later.
~
~ (2) A certificate of the Aasociation executed by
a~ any of its ofPicers in recordable form shall be deliv-
ered to the purchaser.
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- LesW OFFICES OF GOLDSTEtN, FRANKLIN. CHONIN 3 SCHRANK, P. A. 2020 NORTHEAST 163no STREET, NORTH MIAMI BEACH, FLORIDA 331a2 =