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HomeMy WebLinkAbout0190 i from the mor~gagor, his successors or assigns, or through foreclo- ; sure proceedings; nor shall such provision app7tiy to a transfer, ~ sale or lease by a bank, life insurance company, savings and loan association or other institution that so acquires its title. Nei- 3 thei~ shall such provisions require the approval of a purchaser who ~ acquir.es the title to an apartment at a duly advertised public sale ~ with open bidding provided by law, such as but not limited to ex- ecution sale, foreclosure sale, ~udicial sale or tax sale. Neither ~ shall such provisions apply to the Developer, or ar~y person who is ~ an officer, stockholder or director of the Developer, or to ar~y ~ corporation having some or all of its directors, officers or stock- holders in corranon with the Developer, ar~d at~y such person or corpo- ~ ration shall have the right to freely sell, lease, transfer or oth- ~ erwise deal with the title and possession of an apartment unit without complying with the provisions of this section, and without ~ the approval of the Association. ~ 13•6 Unauthorized transections. Any sale, mort,gage or lease not authorize pursuan o e erms of this Dealaration ahall be void unless subsequently approved by the Association. 13.7 Recordin~ a~~roval. Whenever in this section an appro- ' val in reco a e orm s required of the Association in connection with the sale, transfer or pledging of an apartment, it is under- stood and agreed that the said approval shall not be recorded ex- cept at the same time and simultaneous~}r with the recording of the Deed or mortgage, as appropriate. : ~ 13.8 Notice of lien or suit. (a) An apartment owner shall give notice, in writing, to the Association of every lien upon his apartment other than £or authorized mortga¢es, taxes and snecial assessments within five (5j days after the attaching of the lien. (b) Notice of suit. An apartment owner shall give no- tice, in wr ng, e Association of every suit or othe r ~ proceeding which may affect the title to his apartment, such ; notice to be given within five (S) days after the apartment owner shall receive knowledge or notice thereof. , ~ (c) Failure to compl~. Faiiure to comply with this ~ sub-section concern ng 1 ens will not affect the validity ; of any ~udicial sale. 4 ~ 13.9 +~henever in this section an approval is required of the ~ ~ssociation in connection with the sale, tranaferring, leasing or , ~ pledging of any apartment, and such approval shall not have been t obtained pursuant to the provisions he.reof, failure upon the part ~ of the Nssociation to ob~ect in writing to such sale, transfer, ~ pledging or leasing within ninety (90) days after the date thereof, or within thirty (30) days of the date upon which the purchaser, ~ transferee or lessee shall take possession of the premises, which- ~ ever date shall be later, shall constitute waiver by the Asaoci- :i ation of the written consent otherwise required by this section. ~ 14. Purchase of apartments b ~+ssociation. The Association shall i have the power o purc ase apar men s su ec o the following provisions: ~ ~3 14.1 Decision. The decision of the association to purchase : an apartmen~sFiz~be made by its directors, without the necessity ' ~ of approval by its membersh~p except as ? s hereinafter expressly - provi3ed for. . - 14.2 Limitation. If at any time the Association shall be ~ the owner or agree purchaser of five or more apartments, it may ~ l:~ not purchase ar~y additional a artments without the prior written ~ approva~ of seventy-five (75~~ of the members eligible to vote. a member whose apartment is the sub~ect matter of the proposed pur- chase shall be ineligible to vote thereon, provided, howeve r, that BOOK ~v0 PACE 1~7V ~ ;::ry -18- ; -;~i ~nW OFFICES OF GOLDSTEfN. FRANKLIN. CHONIN Q SCHRANK. P. A.. 2020 NORTHEAST 163no STREET. NORTH MIAMI BEACH. FLORIDA 33162 ~ ` : r . , . ; : - . _ ~ a _ . . _ .