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HomeMy WebLinkAbout0184 of reconstruction and repair shall be from t insurance proceeds. If there is a balance in a construction ~urxi after payme~t of all ~ costs of the reconstruation ar~d repair for ~ which the fund is established, such balance ~ shall be distributed to the beneficial owners of the fund in the manner elseNhere stated; ~ except, however, that the part of a distri- bution to a beneficial owner that is not in ~ excess of assessments paid by such owner to the construction fund shall not be made pay- ~ able to ar~y mortgagee. ' i (5) Certificate. Notwithstanding the provisions o~ s nstrument, the Insurance ~ Trustee shall not be required to determine ~ ~ ~ whether or not sums paid by the apartment ` owners upon assessments shall be deposited ~ by the Asso~iation with the Insurance Trustee, nor to determine whether the disbursements from the construction furrl are to be upon - the order of th~ Association, or upon the approval of an architect or otherwise, nor whether a disbursement is to be made from the cor~struction fund nor to determine the payee nor the am~unt to be paid. Instead, the Insurance Trustee may rely upon a certificate of the Association made by its President and ` Secretary as to any or all of such matters arid stating that the sums to be paid are due and proper~y payable and stating the name of the payee and the amount to be paid; provided, that when a mortgagee is required in this in- atr»mant t~ hP namecl As nayee; the Insurance Trustee shall also name the mortgagee as a payee of any diatribution of insurance proceeds ~o a unit owner; and further, provided, that when the Association, or a mortgagee that is ~ the beneficiary of an insurance policy whose proceeds are included in the construction Pund, ~ so requires, the approval of an architect t named by the Association shall be first ob- ~ tained by the Association prior to disburse- ments in payment of costs of reconstruction ~ and repair. s 12. Use Restrictions. The use of the Corydominium property ahall ; ~ be in acco ance M e Pollor+ing p~ovisions as long as the Condominium ~ exists and the apartment building in useful condition exists upon the ~ land : ~ ~ 12.1 Apartments. Each of the apartment units shall be occu- ~ pied only as a s ng e family private dwelling. Except as reservsd ~ to Developer, no apartment unit may be divided or subdivided ; into a smaller unit. ~ ~ i?.? r~~,n P~PIIPi'3t4 an,c~ Zim~~ed comr?on elements. The ~ common elemen s a e co~amon e emen s s e used ; - only for the purposes for which they are intended in the f~r- nishings of services and facilities for the en~oyment of the _ ~ apartments. • ~ OO ~ ,r.? 12.3 Children. No persons who have not yet attained the - age of thir een~'(I~) years shall be permitted to reside in any ~ of the apartments except with the written consent of the Board of Directors of the Association, or of the Developer, provided, - 00 such written consent when once given and relied upon in connec- - tion with the purchase and acquisition of a condominium apart- _ ~ ment unit may not thereafter be revoked or terminated without - °`o the consent of the apartment owner, and provided, further, that chi2dren under such ege may visit and temporarily reside in an = apartment unit provided such temporary residence ahall not ex- ' ceed thirty (30) days within any consecutive twelve-month peri- ~ od. ~ -12- ~ !~.:N OFFICES OF GOLDSTEIN. l1itANrLIN. ~?dWiiN Q SCHRANK. P. A.. 2020 NORTHEAST I63no STREET. NORTH MIAMI BEACH. FLORIDA 33162 ` a" ~n f . _ ' ~ _ _ .