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HomeMy WebLinkAbout1866 of the Association and a common expense. However, the liability of the Association for such expenses will be reduced to the extent by . which they are~met by the proceeds of insurance carried by it. - b. Alteration and Im rovement. There will be no altera- tio~s or ad itions to t e common e ements of this condominium, by ~the Association or otherwise, without prior approval in writing by the record owners of all of its apartments; provided, however, that any alteration or improvement of the common elements of this condominium by the Association bearing the approval in writing of the record owners of not less than seventy-five per cent (75$) of ~ its common elements and which does not interfere with the rights of any such owners without their consent may be done if the owners who do not approve are relieved from the initial cost of such alteration or improvement. The cost of such alteration or improvement, not so assessed, will be assessed to the other apart- ment owners as a common expense and as determined by the Board of Directors of the Association. There will be no change in the . shares and rights of an apartment owner in the common elements so altered or further imnroved, whether or not the apartment owner contributes to the cost of such alteration or improvement. ~ ~ 11.3 - Limitation upon Liability of Association. Notwith- standing the duty of the Association to maintain an repair parts of the condominium property, the Association will not be liable to apartment owners for injury or damage, other than the cost of maintenance and repair, caused by any latent condition of the property to be maintained and repaired by the Association or caused ~ by the elements or other owners or persons. 12. ASSESSMENTS. The making and collection of assessments against apartment owners for common expenses will be pursuant to the Bylaws of the Association and the Management Agreement, subject to the following provisions: ~ 12.1 - Share of Common Expense. Each apartment owner will ~ ~be liable for a proportionate share of the common expenses, and ; will share in the common surplus, as provided for in Article 10 ! of this Declaration. ~ j 12.2 - Interest; Application of Payments. Assessments ~ and installments on such assessments which are paid on or before ~ ten (10) days after the date when due will not bear interest, but all ~ sums not paid on or before ten (10) days after the date when due will bear interest at the rate of ten per cent (10~) per annum from the date when due until paid. All payments upon account will be first applied to interest and then to the assessment pay- ~ ment first due. E F 12.3 - Lien for Assessments. The Association will have a ~ lien upon each apartment an upon all tangible personal property located within each apartment for any unpaid assessments, together with interest, except that such liens will be subordinate to the liens created under the Long Term Lease and to bona fide liens recorded in the public records of St. Lucie County, Florida prior to the recording therein of claims of liens for such unpaid ~ assessments. Reasonable attorneys' fees incurred by the Association ~ incident to the collection of such assessments or the enforcement ~ of such liens, together with all sums advanced and paid by the Association for taxes and payments on account of superior mortgages, liens or encumbrances which may be required to be advanced by the Association in order to preserve and protect its lien, will be ~ payable by the apartment owner and secured by such liens. ~ ~ ~ -8- FEE. PARKER & FEE. P.A. ~~fY~~~ i:!,;~~~~ :.:TORNEVS AT LAW POST OFFiCE BOX 1000 ~ FORT PIERCE. FLORIOA 33450 ~ . , . _ - ~ - - ~ - - - _ -.ass ~:~~<~4"~ a~,:~s~- '~2~~"