HomeMy WebLinkAbout1501 title as the reault of orvning a m~rtgage upo~ the apartment con-
cerned, and this shall be so Whether the title is acquired by deed
from the mortgagor, his successors or assigns, or through foreclo-
sure proceedings; nor shall such provision apply to a transfer,
sale or lease by a bank, Iife inaurance company, sav3nga and loan
association or other inatitution that so acquires its title. Nei-
ther shall such provisions require the approval of a purchaser Nho
acquires the title to an apartment at a duly advertised public sale
with open bidding provided by laN, such as but not limited to ex-
ecution sale, foreclosure sale, ~udicial sale or tax sale. Neither
shall such provisiona apply to the Developer, or any person who is
an officer, etockholder or director of the Developer, or to ar~r ~
corporation having some or all of its directora, ofP3cers or stock- '
holders in com~non with ~he Developer, ~nd any auch person or corpo-
ration shall have the right to freely sell, lease, transfei• or oth- ~
erw3se deal with the title and poas~ssion of an apartment unit ?
without complying with the provisions of this section, ar~d Mithout ~
the approval of the Association. i
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1~.6 Unauthorized transactions. Any sale, mortgage or 2ease z
not authorize pursuan o e ernss of this Declaration shall be ;
void urless subsequently approv~ed by the Association.
13.7 Recording approval. Whenever in this section an appro-
' val in recor~c
a~'i e orm s required oP the Association in connection .
i with the sale, tranafer or pledging of an apartment, it is under- ~
~ stood and agreed that the said approval shall not be recorded ex- ?
t cept at the same time and simultaneously with the recording of the ~
~ Deed or mortgage, as appropriate. ~
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~ 1~.8 Notice of lien or suit.
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p (a) An apartment owner shall give notice, in Nriting,
= to the Association of every lien upon his apartment other
~ than for authorized mortgages, ta~ces and special assessments
within five (5) days after the attaching oP the lien.
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p (b) Notice of suit. An apartment owner shall give no-
~ tice, in Nr ng, o e Aasociation of every suit or other ~
G proceeding which may affect the title to his apartment, such ~
; notice to be given xithin five (5) da'ys after the apartment
' ouner shall receive knoxledge or notice thereof. ~
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(c) Failure to comply. Failu~e to comply Nith this ;
sub-section concern ng ens xill not affect the validit y ~
~ of any 3udicial sale. {
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~ 1~.9 Whenever 3n this section an approval is required of the '
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Association in connection with the sale, transferring, leasing or
~ pledging of any apartment, and such approval shall not have been
~ obtained pursuant to the provisions hereof, failure upon the part
; of the Association to ob~ect in writing to such sale, transfer, ;
pledging or leasing xithin ninety (90) days after the date thereof, `
or Within thirty (?O) days of the date upon Nhich the purchaser,
transferee or lessee shall take possession of the premiaes, xhich- -
ever date shall be later, sha1Z constitute waiver by the Asaoci- ;
; ation of the written consent otherwise required by thia section.
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5 14. Purchase of apartments by Association. '.'he Association shall i
have the power o purc ase apar men s su ec o the following provisions:
14.1 Decision. The deci~ion of the Association to purchase
an apartmen s a e made by its directors, without ~he necessity
~ of approval by its membership except as is hereinafter expressly
, provided for.
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~ 14.2 Limitation. If at any time the Association shall be
~ the owner or agree purchaser of five or more apartments, it may
~ not purchase any additional apartments without the prior written
approval oP seventy-five (~S~) of the members eligible to vote. A
,~,i member whose apartment ia the sub~ect matter of the proposed pur-
~o chase shall be ineligible to vote thereon, provided, hoxever, that ;
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LAW OFFICES OF GOLDSTEIN, FRANKLIN. CHONIN Q SCHRANK, P. A.. 2020 NORTHEAST 183rro STREET, NOR7H MIAMI BEACH, FLOAlDA 33162