HomeMy WebLinkAbout0023 ' 14. Purchase of a artme~ts br~Association. The Rssociation
sha~? have t e poavar to purc ase apartmen~s su ject to the following
provisions:
~4.1 DECisi~n..r The decision of the Assaciation to
purchase an apartment shall be made by its directors, without
the necessity of approval by its membersh~p except as is
hereinafter expr.essly provided far. ~
1.2 Limitation, If at any time the Association shall be
the o r or agreecl purchascar ~f five cr more dNartments, xt rnay
not purchase any a~ditional a artment with~ut the prior written
approval of seventy-five {?5~~ ~f the members eligible to vote.
A member whose apartmer~t is the subject matter of the proposed
purchase shall be ineligible to vo±e thereon, provided, ho:vever,
that the limitations hereof shall not apply to apartments to
be purchased at public sale resulting from a foreclostare of
the Association's lien for ~eliriquent assessments where the bid
of the Association does not exceed the aggregate of the amounts
due by virtue of any and all seniar or superior liens against
the apartment plus the amount due the Association, nor shall
the limitation of this paragraph apply to apartments to be
acquired by the Assaciation in lieu of foreclosure of such
liens if the c~nsideration ~herefora does not exceed the
c~ncellation of such Iien.
15. Ri hts of Develo er, Not~~~th~tandin~ anytha.ng herein to
the contrary, t e Deve oper sh?1~ ;~ave ~he right of first refusal to
purchase any apartment unit Evhich the Associaticr sha11 have the
right to purchase Upan the sa~e price ~nd at the sar::e terrns available
to the Association, such right-of f irst refusal to continue until
such time as the Developer shall have complete~, sold and closed
on the ~sale af all apartments in the Condominium, or until two years
afier the recordation of fihis Declaration, whichever shall rirst
occur.
16_ ~^TM~~~a,,~e and detault. Each apartme~t owner shall be
` governed by and s a ccmp y vnth thE terms of the Declara±ion of
` Condominium, Articles of Incorparation and By-Laws and the Regulations
~ adopted pursuant to those documents, and all of such as thpy may be
; amended from time to time. Failure of an apartment owner to comply
~ with such documents and regulations shaii entitie the Ass~ciation
i or other apurtment owners t~ the followi.ng relief in addition to the
remedies provided by th~ Condominium Act.
~
I 16.1 Neqliqence. An apartment owner shall be liable for
~ the expense of any maintenance, repa?r or replacement ren~ered
~ necessary by his negligence or by that ot any members of his
' family cr his or their guests, empZoyees, agents or lessees,
~ but only to the extent that such ~xpense is not r~et by the
~ proceeds of insurance carried by the Association. An apartment
~ or•,mer sh_all pay the Association the amaunt of any increase in
~ its insurance eremiums occasioned by use, misuse, occupancy
~ or abandonmert of an apartment or its appurtenances, or of
~ the comrr.on elements, by the apartment ~Ymer.
~
F 16.2 Costs and attorne s' fees. In any proceeding arising
I because of an alleged a~ ure of an apartment ovmer or the
; Association to c~n?~,ly :~:ith the terms of the Declaration, Articles
= of Incorporati.on of the Association, the By-Laws, or the
~ Regulations a'dop~ed pursuant to them, and the documPnts and .
~ regu3ations as they may ~e amended from tir.-te te time, thc
' prevailing party shal~ be entitled to recover the cos;,s of
; the proceeding, and the Asscciation, if it sha~.l Frevail, shall
further be entitled to recover such reasonable attorneys' fees
as may be awarded by ~he ~ourt, provided, hawever, no attorneys'
fees shall be recover:~d against the Association in any s~ach
action.
16.3 IVo waiver o~ ri hts. The failure cf the Association
or any apartment ~wner to en orce any covenant, restriction oy
other provision of the :,onc~ominium Act, this Declaration, irie
Articles of Incorporation of thE Association, the By-Laws or ±he
~egulations shall not constituta a waiver of the right tc do so
thereafter. ~ ~
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