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(b) A survey of the land and a graphic description F
of the improvements in which units are located which ~
identifiea each unit by letter, name, or number, so that ~
no unit beara the same designation as any other ur~it, i
and a plot plan thereof, or in sufficient detail to 1
identify the common elements of each unit and their ~
relative locati.ons and approximate dimensions, as to ~
the additional lands and the improvements located i
thereon submitted to condominium ownership by such
amendment.
(c) The undivided share and interest in the
condominium property appurtenant to each apartment, and
the percentage obligation f'or common expenses attributable ;
to each condominium apartment, following such amendment. ;
18. Association and Non-Exclusive Ninety-Nine Year Lease Agreement.
The Associa on as en ere n o a 1~n=~xclus ve ng erm ase
Agreement with FIRST NATIONAL BANK OF FORT PIERCE, as Trustee, under
Trust Agreement dated the.l7th day of November, 1970, and known as
Trust Nz:mber as Lessor, wherek~y certain possessory and use interest
are granted in the Demised Premises described therein. The Non- '
r.xclusive Ninety-Nine Year Lease Agreement is for the en~oyment,
recreation, use and benefit of the members of the Association in
accordance with the terms thereof.
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19. Termination. ~lhe Condominium may be terminated in the `
following manners, 3~ addition to the manner provided by the Condominium
:~ct:
19.1 Destruction. If it is determined as elsewhere provided
that the apar men u lding shall not be reconstructed beca.use-of
{v±. .~~.„~~o tt;o rnrujnmi ni »m r~l An nf ~wnerahin will be terminated
.~...d,.. i r
without agreement.
~ 19.2 ree ment. The Condominium may be terminated at any
time by the approva in writing of all record owners of apartments
E and all record owners of riortgages on apartments. Notice of a ~
; meeting at which the proposed termination is to be considered shall
~ be given not less than thirty (30) days prio r to the date of such
~ meeting. Provide3 that the approval of owners of not less than
~ seventy-five (75''~) percent of thecommon elements, arrl the approval
: of all record owners of mortgages upon the apartments, are ob tained
n at tY:e meeting or within thirty (30) days thereafter, the.n the
~ approving oM•ners shall have an opt3on to buy all of the apartments :
y of the owners not approving of termination, said option to continue ~
a for a period of sixty (~0) days from the date of such meeting.
~ ~pproval by an owner of an apartment unit, or of a mortgage en-
~ cumbering an apartment unit, shall be irrevocable until expiratio n
~ of the aforerecited option to purchase the apartment of owners not
~ so approving, and if the option to purchase such apartment is
~ exercised, then such approval shall be irrevocable. The option to
~ purchase ~he apartments or units not approving of terminatio n shall
be exercised upon the following terms:
'~'3
~y
1 F'v_arni aP nf nnt.inn, Thr? c~nt~(~t1 ~h81.1 be
_
exercised y e very or ma ling by registered mail
= to each of the record owners of the apartments to be
~`F' purchased an agreement to purchase signed by the re-
- cord owne rs of apartments who will participate in the i
purchase. ~uch agreement shall indicate which apart- `
- ments will be purchased by each participating owner
and shall require the purchase of a11 apartments own-
ed by owners not approving the termination, but the
agreement shall effect a separate contract beLween
- each seller and his purchaser.
(b) Price. The sales price for each apartment ~
= shall be t e air market value determined by agree- r
ment between the seller and the purchaser within thirty
600K 1vS PACE
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_ iAW OFFICES OF GOlD8TE1N. FRRNKLIN. GHONIN Q SCHRANK. P. A.. 2020 NORTHEAST 163nn STREET, NORTH MIAMI BEACH. FLORIDA 33162 ~ S
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