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(30) days from the delivery or ma311ng of such agree- ~
ment, and in the absence of agreement as to price, it ;
shall be determined by arbitration in accordance with ~
~ the then existing rules of the American Arbitration ~
kssociation, except that the arbitrators shall be two
appraisers appointed by the American Arbitration Asso- ~
ciation who ahall base their determination upon an av-
erage of
their appraisals of the apartment; arid a~udg- ~
ment of specific performance of the sale upon the award
rendered by the arbitrators may be entered in any court ~
of competent iurisdiction. The expense of the arbitra-
tion shall be paid by the purchaser. In any such action
for specific performance the prevailing party shall also
be entitled to his reasonable attorneys' fees and costs
incurred in connection therewith.
(c) ~Pa~m
e~nt. The purchase price shall be paid in
• cash, prov3ded;~n the event there shall be a pre-exist-
ing first mortgage on the cor~dominium unit, then the pur~-
~ chaser shall have the option of assuming the remaining .
principal ob? iggtion thereof; ~mi that ortion of the
purchase price which is in excess of h mortgage shall
be payable in cash at closing.
(d) Closing. The sale shall be closed within thir-
ty (30) da~ys~olTowing determination of the sale price. ~
19.3 Certificate. Termination o~ the Condominium in either
~ of the forego ng manners shall be evidenced by a certificate of
the ~ssociation executed by its President and Secretary certifying
to the facts eff'ecting the termination, said certificate to become
effective upon being recorded in the Public Records of St. Lucie
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19.4 Shares of owners after termination. After termination
` of' the Condo um e apar men owners s a own the Condominium
~ property and all assets of the Association as tenants in coirmon
~ in undivided shares that shall be the same as the undivided shares
~ in the comm~n elements appurtenant to the owners' apartments prior
z to the termination.
; 19.5 Amerximent. This section concerning terminatio n cannot
be amended w ou consent of all apartment owners and of all re-
~ cord owners of mortgages upon the apartments.
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20. Severabilit . The invalidity in whole or in part of any cov-
~ enant or res r c n, or any section, sub-section, sentence, clause,
~ phrase or word, or other provision of this Declaration of Condominium
and the ~rticles of Incorporation, By-Laws and Regulations of the
~ association ahall not affect the validity of the remaining portions. `
~
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_ IN WITNESS WHE~,OF, ~he Developer has executed this Declaration
this day of , 1971.
c;
~ FIRST NATIONAL BANK OF FOf~F PIERCE
~
ag Tri~et.~~s »~Pr Tri~sfi kc~_r.e$i'~h'C :
~ dated November 17, 197U,~• and knotrn~;.
;=z as Trust Number 2 _ ~ -
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_ LAW OFFICES OF GOLDSTEIN. FRANKLIN, CHONIN Q SCHRANK. P. A., 202a NORTHEAST 163AO STREET, NORTH MIAMI BEACH. FLORIDA 33162 ~
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