Loading...
HomeMy WebLinkAbout1864 9. SHARES OF COMMON EXPENSES AND COMMON SURPLUS. a. All common ex enses of said three (3) separate condo- miniums, including this con ominium, during such times as they are being managed as a single entity, will be shared by the apartment owners of said condominiums as follows: (1) The number of square feet of area within the boundaries (as taken from Declarations of Condominium) of each apartment will be divided by the total number of square feet of area within the boundaries (as taken from Declarations of Condominium) of all apartments of said three (3) separate condominiums. The resulting percentage will be the percentage of the combined common expenses of all of said three (3) separate condominiums to be paid by the apartment owner; it being the Developer's - intention that assessments against the owners of all - apartments of the same type in all such condominiums will be the same amount. The common expenses of this condominium, during such times as said three (3) separate condominiums are not being managed as a single entity, will be shared by the apartment owners in the~same proportions as their percentage interests in the common elements of this condominium. Provided, however, that rent and other monies ; due under the Long Term Lease will be shared by the apartment owners, equally, as set forth in said lease; and that the above provisions will be subject to the provisions of the Management Agreement. b. Any common sur lus of the Association, during such times as said three 3 separate condominiums are being managed as a single .entity, will be owned by the apartment owners in the ~ same proportions as their shares of the common expenses; and such common surplus as may be apportioned to this condominium by the ~ Board of Directors of the Association, during such times as said condominiums are not being managed as a single entity, will be owned by the apartment owners of this condominium in the same proportions as their interests in the common elements of this ~ condominium. i 11. MAINTENANCE, ALTERATION AND IMPROVEMENT. Responsibility for the maintenance of~the condominium property and restrictions upon its alteration and improvement will ~ be as follows: a ~ ~ 11.1 - Apartments. - i a. By the Association. The Association will maintain, repair and replace: (1) Al1 portions of apartments contributing to the support of the apartment building, the outside surf.aces of ~ - walls of the apartment building, the surfaces of interior ~ building walls facing common elements, the outside surfaces ` of doors leading into apartments and f ixtures attached to ~ such surfaces. Such will be done at the expense of the ' ~ Association, unless made necessary by the negligence of any ~ apartment owner, members o~ his family or his visitors, guests, employees, agents or lessees. In the event of ~ such negligence, it will be done by the Association at ~ the expense of said apartment owner. ~ -6- ~ FEE. PARKER & FEE. P. A. • ATTORNEYS AT LAW ~ R ~ ~ POST OFi1CE BOX 1000 G~C~ ( ~~C~ FORT PIERGE. FLORIDA 33450 ~ .Y.~ w - ~"t'~'~i`~~~ : ..s-.,.-~: ~ ~ _ `Y~'~~- . .