HomeMy WebLinkAbout0014 il. Rec~~nstruction or repair after cas~alty.
11.1 Deter~ir.~tion to r~canstruct or re air. If any par~ of
the Condominium property s.a e amage y casualty, whether or
not it shall be reconstructed or repaired shall ae determined in
~he following manner: "
~ (a) Common element. If the damaged imprGVemen~ is
a common eI-emen
,~t
ie 3`amaged property shall be reconst~~c.ted
~r repaired, u~less it is determined in the manner e'~~~.=rere
' prov~ded that the Condaminium shall be terminated.
(b) (1) Lesser damage. If t~e,damaged imFrovem~n~
is the apartment ui ding, and if apartm~~nts to
which f if ty percent ( 50`~G) uf the common e? ements
are appurtenant are found by the Board of Directors
of the Associat~on to be tenantable, the damaged
property s~all b4 reconstructed or repaired, unle~s
within sixty (60) days after the casualty, it is
determined by agreement in the manner elsew~i~ere
Frovided that the Condominium shall be terminated.
(2) Major dam,~a
~e. If the damaged improvement
is the apartment building, and if apartments to
which more than fifty percent (50~) of the common
elements are appurtenant are found by the Board of
Directors to b~ not te~antable, then the damaged pro-
perty will n~t be reconstructed or repaired, ar.~? }he
Condominium will be._terminatea without agreement
as elsewhere provided, unless ~vithin sixty ~60) days
after the casualty, the ~wners of eighty percent •
t80q;) of the comr~on elements agree in writing to
such reconstruction or repair.
(,c) Certificate. The Insurance Trustee may rely
upon a c2r~i zcate o the Association made by its Fresident
ar.d attested by its Secretary as tc whether or not the
damaged pro~erty is to be reconstru~~t~d or repaired.
11.2 Pians and s ecificat~o.~s. Q~y rP~onstruction or
repair must be subst~n*ia y in accordance ~s~t,3 t~~ Pla.7s arrd
specif ications f or the oTiginal bv~ilait~g, oY ,~r ev~ ~.,nezeo~ ,
a~CO?^~?ng to Flans ~n~ sFecificati~ns aaproved hy the Boarc~ of
Directers cf the Association, and if the damaged property is in
the apartment bui~ding, by the owners of not less ~han eighty
percent (8096) of the corn~TOn elements, including the ov:~ners u~
all damaged apartr~ents, together with the approval of the
institutional mortgagees holding first mortgages upon all_
damaaed apartments, which approval shall not be unrea;onably
:?~ithheld.
; I1.3 Responsib~ility. If the ~amage is or~ly to those
` parts of ~ne apartment for ~Hhich ihe ~e~por,sibility of mzin-
; tenar~ce and repair is t!-,~t of the apartment ovmer, then the
~ said owner shall be resp~nsible for reconstruction and repair
~ after casualty. In all other instances the respor.sibility ~
~ of reconstruc~ior~ and repair after casualty shall be that of
f the Association.
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f
~ 11.4 Estimates of costs. Immediately after a determinaLivn
is made to rebuild or repa~r damage to property for Nhich the '
: Association has the resparsibiZity of reco~struction and repair,
' the Assoc~ation shall ohtain reliabl~ and detailed estima±Qs
! of the cost_to reb~ild ~r repair.
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