HomeMy WebLinkAbout1778 E) Al1 rights, remediea and privileges qranted to ASS4CIATION
or the owner or owners of a PRIVATE DiWELLING pursuant to
any terms, provisions, covenants or conditiona of this
Declaration of Condominium or other above mentioned documenta.
shall be deemed to be cumulative, and the exercise of any one
or more shall not be deemed to constitute an election of
remedies, nor shall it preclude the party thus exercising
the same from exercising`such other and additional rights.
remedies or privileges as may be available -to anch party at
law or in equity.
F) The failure of DEVELOP~R to enforce any right, privilege,
covenant or condition which may be granted to the DSVELOP~R
by this Declaration of Condominium or other above mentioned
docyment shall not constitute waiver of the right of
DEVELOPER to thereafter enforce such right, provision,
covenant or condition in the future.
G) The failure of an Institutfanal Lender or Institutional
Lenders, as said term is herein defined, to enforce any _
right, provision, privilege, covenant or condition which may
be granted to it or them by this Declaration of Condominium
or other above mentioned documents, shall not conatitute
waiver of the right of said party or parties to thereafter
enforce such right, privilege, covenant or condition in the
future.
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RIGHTS RESERVED UN'I'0 INSTITUTIONAL LENDERS
"Institutional Lender" or "Institutional Lenders". as the terms
are used herein, shall mean and refer to banks, savir~gs and loan
association, insurance companies, FAA approved mortgage lenders and
the D$VEI,OPER. So long as any Institutional Lender or Institutional
Lenders shall hold any mortgage upon any PRIVATE DWELLING or PRIVATE
D~WELLINGS, or shall be the owner of any.PRNATE D~WELLING or PRIVATE
DWSLLINGS, such Institutional Lender or Institutional Lenders shall
i have the following rights, to-wit:
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A) To ~pgrove the company or companies with wh~m casualty
insurance is placed and the amount of such casualty insurance
f - to be carried from time to time by the ASSOCIATION.
Bj To approve the Insurance Trustee designated by the ASSOCIATION.
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; C~ To be furniahed with at least one copy of the Annual Financial
Statement and Report ot ASSOCIATION, prepared by Certified
~ Public Accountant designate~ by the ASSOCIATION, including
: a detailed statement of annual carrying charges or income
s collected and operating expenses. such Financial Statement
~ and Report to be furnished within sixty (60) days follawing
€ the encl of each calendar year.
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_ D~ To be given notice by the ASSOCIATION of the call of any
~ meeting of the membership to be held for the purpose of
= considering any proposed Amenc7ment to this Declaration of
~ Condominium, or the Articles o~ Incorporation and By-Laws of
' ASSOCIATION, which notice shall state the nature of the
i Amendment being proposed.
E~ To be given notice of default by any member owning any
; PRIVATE D~WELLING encwnbered by a mortgage held by any I-~
Institutional Lender or Institutional Lenders, such notic~.~!
j to be given in writing and to be sent to the principal
office of such Institutional Lender or Institutional Lendera,
or to the place which it or they may designate in writing
to the ASSOCIATZON. _
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e SPiELVOGEL, GOLPyiAN AND CARUSO. P. A. • ATTORNEYS AT LAW - 1~tERR17T ISLAND, FL DA
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