HomeMy WebLinkAbout1768 the said Board of Di~~~tors of ASSOCIATION the opportanity to
~ detesmine whether oz not it will exerciBe its first riqht to lease
or purchase such PRIVAT$ DWSLLINC3 on the terms and cond~:tiox~s
offered, then the leseee or purchaser in euch traneaction ehall
notify the Bonrd of Directors of ASSOCIATION of hie lease or parchase
of such PRIVATE Di11ELLING, such notice to be in writinq and to state
the name and address and business, occupation or employment, if any,
~ of euch leeaee or purchaeer, and the terms and conditione of said
leaee or purchase, auch notice to be in writing and to be delivered
to ASSOCIATION in the sanie manner as snch notice ie required to be
given prior to consur?unation of such lease or sale transaction.
Thereafter, the Board of Directora of ASSOCIATION ehall have twenty
(20) days from receipt of sucA notice within which to exercise the
right of redemptian granted ta ASSOCIATION and to accomplieh auch
redempt3on. Failure to exercise said right of redmnption snd to
accowplish the redemption of esid leaee or purchase ~ithin said
twenty (20) day period of time, provided the same ie not obetructed
by the party from whom such redesnption muet be made, ahall cauee the
right ot redemption granted to ASSOCIATION to terminate aad expire
aa to said leaee or purchaae transaction.
No PRIVATB DWELLING ahall be leased unless the terme and provisions •
of euch lease shall provide that euch PRiVATS DWELLING may not be
sublet without the prior written approval of ASSOCIATION being first
had end obtai.ned, and any lease shall provide that the leeeee shall
comply with and abide by all of the restrictions pertainirig to the
use of PRIVATS DWSLLINGS ancl COMNDN PROPBRTY contained in this
~Declaration of Condominium, and with the rules and regulatione
contained herein or hereafter established by ASSOCIATION qoverning
the uae of sach PRIVATS DWELLINGS and CO1~lON PROP~tTY, amd shoald
any leseee nat comply with such covenants, then ASSOCIATION shall
have the right to cancel and terminate such lease, all withont any
obligation to avner, and in said respect. ASSOCIATION shall be
regarded as the owner's agent fully authorized to take such steps as -
may be necessary to effect the cancellation and termination of euch
lease.
Notwithatanding the foregoing provisians af np'1'IC7~E xXIV, the
right of first refusal granted to ASSOCIATYON shall not apply or ~
be operative to the following: (i) any foreclosure or other judicial
sale of a pRIVAT$ DWSLLING although the title of the'purchaser at
any forecloaure ur judicial sale sha?11 thereafter be subject to the
right of ~iret refueal grar~ted to ASSOCIATION pertaining to the lease
or eale of such PRIVATE DWELLING; (ii) any conveyan~e made by the
i owner of a pRIVATE DWELLING to an Institutional Lender in lfeu of
foreclosure; and, (iii) any lease or sale of any PRYVATE DWELLING by.
DSVELOPER, or leaee or sale of any PRIVATE DWELLIDI~ to D$VEZOPER, or
' lease or sale of any PRNATS DiWELLING to a party approved by
~ D$VELOPER so long as DSVSLOPER is an awner, lessee or holder of a
; Mortgage effecting or encumbering any such PRNATE DWLLLING.
' 70~V.
~ ASSOCIATION TO MAINTAIN R~GISTER
` OF pWNERS AND MORTGAGBES
E ~~A~~~~w~r~~~ • ¦
't
3
3 ASSOCIATION ahall at all times maintain a Register setting forth
~ the names of the owner of all of the PRIVATE ~+TELLINGS, and in the
~ event of the sale or tran,sfer of any PRNATE DWELLING to a third
~ party, the purchaser or transferee shall notify ASSOCIATIOI~ in writing
- of hia intereet in such PRIVATE DWELLING, toqethar with such recording
information as ehall be pertinent ta identify the instrument by whfch ;
- such purchaser or transferee has acquired his intereet in any PRIVATE ~
5 D~W$LLING. Further, the owner of each PRIVATS D~WELLING ahall at all ?
; timea notify ASSOCIATION of the name$ of the parties holding any
mortgage or mortgages on any PRIVATE DWELLING, the asaount of such
mortgage or martgages and the recording information which ahall be
° pertinent to identify the tnortgage or mortgages. The holder of any
; -16- -
' 10.15. 2
<
~
~ :~i{
SPIELVpO$L. pOLDMAN AND CARUSO, P. A. - ATTORhEYS AT LAW - M6RRiTT ISLAND. FI.ORIDA
- I
, , -