HomeMy WebLinkAbout1860 . c. Any valid charge against the condominium
property as a whole. . ~
d. All ~onies due under the Long Term Lease and
under the Management Agreement, as hereinafter set forth.
4.7 - Common Surplus means the excess of all receipts of
the Association over the common expenses. .
4.8 - Condominium means that form of ownership of property
under which uni
s~-'improvements are subject to ownership by ~
different owners; and there is appurtenant to each'unit, as a i
part thereof, an undivided share in the common elements.
4.9 - Con~ominium Pro eP rty means and includes the land '
hereby submitte to t e con ominium form of ownership, all 3
improvements thereon, and the common elements; and all easements
and rights appurtenant thereto.
4.10 - Institutional Mort a e means a mortgage held
by a bank, savings an loan association, insurance company, or ~
union pension fund authorized to do business in the State of
Florida, or an agency of the United States Government.
4.11 - Long Term Lease means and refers to a lease
between Gulf-Atlantic Investments of Fort Pierce, Inc., herein-
after referred to as "Lessor", and the Association, demising
the premises therein described to the Association; and upon which
premises there is constructed, or will be constructed, recrea-
tional facilities.
4.12 - Management Agreement means and refers to the
agreement between Atlantic Condominium Management Corporation,
hereinafter referred to as "Manager", and the Association,
providing for the operation and management of the condominium ?
for an initial period of five (5) years, with an optional right
of renewal on the part of the Manager for an additional period
of five (5) years~.
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4.13 - Singular, Plural Gender. Whenever the context
! so permits, the use of plural shall include the singular, the
i singular the plural, and the use of any gender shall be deemed
to include all genders. ~
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~ 5. DEVELOPMENT PLAN.
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~ The condominium includes four apartment buildings; ;
and it is described and established as follows:
5.1 - Sur~vey• A survey of the land hereby submitted
to the condominium form of ownership, showing the location
of all improvements, common elements and the dimensions and
description of the premises leased by the Association under
the Long Term Lease is attached hereto as Exhibit B.
The condominium will be one of a series of three
separate contiguous condominiums, each of which will include
more than one apartment building, to be established by the ~
Developer upon lands in St. Lucie County, Florida. The Associa- ~
~ tion will be responsible for the operation of all of said condo- ~
~ miniums; and they will be managed as a single entity. The
~ Declarations of Condominium for each of said separate condo-
miniums will be in substantially the same form.
5.2 - Plot Plans showing the location and dimensions of each
apartment of the apartment buildings of this condominium and of common
elements within or attached to said buildings are attached
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FEE. PARKER & FEE. P. A. Rr a
ATTORNEVS AT~LAW p
POST OFFICE BO% 1000 ~~U,. (Hl•:
FORT PIERCE. FLORIOA 33480
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