HomeMy WebLinkAbout1454 v~ich ms?y be granted by the Oondaniniun d~x~n~nts shall ~t oonstitute a waiv~er
~ of the right of the sai~ party t~o enforoe such right, p~wisioa, vover~ant or
aonditicn in the future .
Sectian 5. No Electicn of I~emedies. All rights, r~nedies and grivi-
l~g~s 9r~~ ~~Y P~-'~ L~S~t ~~Y P~isians, oovena~nts ar oondi-
tions of the aos~c3omi,niun do~ts, shall be deenied t~ be c~malative and the
ewercise of any o~e or mare shall rnt be deemed to vonstitutre an electian of
rs~dies, n~ar shall it preclude the garty thus e~oPrcising the saane firom ex~ercis-
. ing such other at~d a~ciditional rights, ranedies ar privileges as may be granted
to such other p~arty by oo~daminiun ciocunents, or at law, or in equity.
AI~ICGE VIII. AO(XJISITICN t~TITS
Aoquisitian oci Fa~ecLosure. At any fo~eclosure sale of a Unit th~e
Board ~y, with the autharizatian a~ii app~wal by the affirnnative. wte of Voting
M~nbers casting npt less tha~ 75$ the total wtes of the Owners, ~erein said
matter is wted u~on. aoquire in the nanne of the Corporatiori or its desigi~ee, a
Parvel being forecloaed. The t~erna "farecLosure" as uged in this sectiaci ahall
~
~ mean and inclwde any forecLosure of any lie~, including a lien far as~ess~~nents.
'r
~ Zl~e power of the Board to aoquire a Paroel at arn foreclosure sale shall never be
i
interpreted as any t ar obligatiaai on the p~art of th~e Board ar of the
C~o~po~atian, to do so at any su~ch sale, th~e p~wisions hereof bei~g permissive in
nature anci for the purpose of setting forth the power in the Board bo d~o so sh~ould
fi3~e requisite app~+oval of the Voting Manbers be abtained.
,
ARTICZE IX. TO TF~ BY-IAWS
T'hese By-Iaws may be altered, a~c~ended or acY3ed tA at any duly called
meeting of the Owr~ers, p~wid~ed: -
(1) Natioe of the meet.ing shall oo~tain a statrenent of the p~~aposed
~t. _
(2) If the A~n~rent has reoeiv~ed the unanimx~s approval of the full
Board, tl~ez~ it shall be appr~d upan the affinaative wte of the Voting Msnbers
casting a majo~rity of the tatal wtes of the Owners .
aooK201 PA~1452
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