HomeMy WebLinkAbout1767 then, upon notifying the c,~ic~er of such PRIVATB DoWBLLING of ite
election to lease or purchase said PRIVATS D9d8LLING, ASSOCZATZON
aha11 execute a lease or contract to purchase, and si~a3.l conauirunate
auch contract to purchase, all on the same terma and conditiona
aa those contained in said bona fide offer. When any owner of
a PRIVATS DWSLL~IaG hae notified ASSOCIATION asabove provided of
hie deaire to leaee or aell his PRIVATE DWELLING, such owner.
shall be free to consummnate such lease or sale of his PRIVATS '
DWELLING, unless, within fourteen (14) days after the a~wner haa
delivered hia requiredtotice to ASSOCIATION~ A5SOCI1~iTION hae
hotified said owner of ite intentfon to exercise its riqht of first
refusal and to lease or purchase euch PRIVATE D~WELLING, euch notifica-
tion being as above apecified. However, in said event, the owner
of said PRIVATE D~WELLING sha~.l not lease or eell said PRIVATE
DWELLING to any party other than the party deaignated to the Board
of Directors of ASSOCIATION in the aforedescribed and required notice,
nor for any lower rental or purchase price, nor on any ~ore favorable
terms and conditions than those originally contained in said bona
fide offer presented to ASSOCIATION, without again qivinq ASSOCIATION
the right of first refueal to lease or purchase such PRIVATE D~TSLLZNG
in the manner above provided.
If the Board of Directors of ASSOCIATION ahall so elect, it may
cause its right of first refusal to leaee or purchase any PRIVATE
DiWELLING to be exercised in its name for itself or for a party
approved by said Board of Directora, or $aid Board of Directars of
AS$OCIATION may elect to cause $aid PRIVATE TJWELLINC ~Q ~~a~ed
or~purchased directly in the name of a party approved by it, wnich
party shall enter into a lease or contract to purchase and COtiSUmmate
auch contract to purchase said PRIVATE DWELLING in fihe same manner
as would ASSaCIATION upon its exerciae of said riqht of first re-
fusal to lease or purchase said PRIVATE DWELLING. Whenever such ,
right of first refusal granted to ASSOCIATION is to be exercised
in.the name of a party approved by ASSOCIATION, notice of such
el+~ction as required herein shall be executed by ASSOCIATION.
and the party approved by the Board of Directors of ASSOCIATION.
In the event that the owner of a PRIVAT$ DWELLING shall lease
or sell such PRIVATE D~WELLING without firat qiving written notice
to ASSOCIATION as herein provided, to the end that said Board of
Directors of ASSOCIATION is not af~orded the opportunity to de-
termine whe~her or not it will elect to lease or purchase said
PRIVATE AiWELI,ING prior to the consummation of such lease ar purchase
and on the terms and provieions thereof, then the said ASSOCI.~~'IC~
i ahall have the right to redeem said PRIVATE DWSLLING fram such
lease or eale transaction by reimbursfng the LESSBE for the amount
; of any rent paid in advance, and by executing a lease in favor of
; the owner of auch PRIVATE DWELLIl~G iclentical with that bei ng
f redeemed, or by refundinq anto the purchaser of euch PRIVATE
~ Dq~TELLING the purchase price paid therefor, in which latter event,
~ the purchaser of such PRIVATE DWELLING shall convey the same to
~ ASSOCIATION or to a party designated and approved by AS30CIATION.
3 The riqht of redemption granted herein shall exist for a period
; ofthree(3) months from the date on which such lease or sale may be
r conaum~nated without prior notice to the Board of Directors of
E ASSOC7ATION as required herein, or the date of transfer of possession
~ purauant to such sale or lease,whichever event occurs last, but
5 auch PRIVATE DWEL~LING may not be redeemed by the ASSOCIATION from
~ said lease or aale transaction after the expiration of said three
- (3j month period. ;
_ ~
In lieu of the procedure provided for in the preceding paragraph ~ ~
and in the event that such sale or leaae of a PRIVATE DWBLLING
has been accamplished without the prior notice to the Board of
" Direc:tors of ASSOCIATION as required herein, and withoat affording
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_ 220 37~3
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- SPIELVOGEL. GOLDMAN AND CARUS~, P. A. - A7TORNEYS AT LAW • MERRITT ISLAND, FLORIDA
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