HomeMy WebLinkAbout1414 prudent, and no question of 3udgment may be raised, as this right to ~
rent is an absolute right, a property interest retained by the
Developer, and a part of this Declaration. Until Cessation of Develop-
ment, Developer shall have all of the rights of the Association to
enforce the agreements hereunder.
XI.
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PROVISION RELATING TO RENTAL OR SALE .
OF CONDOMINIUM UNITS
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A. Developer has retained a real property interest in the
Conmon Co-Use Areas and in the rents of the Units; and is engaging
in an active promotional program to develop the Condominium and other ;
adjacent properties into Recreationai Vehicie Parks for the use and .
~ pleasure-of both the Owners and potentia~l renters of the Owner's Units.
The Owners in purchasing Units indicate that they desire to have their
Units rented when they are not in use by the Owner. In furtherance of
this desire and in consideration of Developer~s continuing an active
promotional and rental management program, the Owners of the Units
hereby agree that Developer may manage an active rental program on the
; Condominium Property set rental rates for Units, and may utilize all
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~ of the Units when they are not occupied by the Owners in this rental
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program: Developer may charge~a portion of the rents thus obtained ~
for these services rendered. The rents and the portion of the
rents which may be retained by the Developer shall be determined by a
schedule promulgated from time to time by the Developer; however, such -
retainage from the rents sha11 in no event exceed fifty (50) per cent ~
of the gross rent so obtained. No Owner will rent his own Unit, inde- ~
pendently of the Developer, and all Units will be rented through the
~ Developer and the Developer will pay to the owner of each Unit the pro-
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ceeds of that Owner's Unit rental receipts less Oeveloper's retainage as
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j described herein. In the event an Owner rents his Unit in violation
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