HomeMy WebLinkAbout2212 then, upon notifying the ot,~~Pr of such PRIVATS DoWBLLING of its
election to lease or purchase said PRIVAT~ DWSLLING, ASSOCIATION
sha11 execute a lease or contract to purchase, and 8ha11 coneummate
~uch contra~ct to purchase. all on the same terms and conditiona
a$ those contained ir~ said bona fide offer. When sny owner of
a PRIVATE DiWBLLING has notified ASSOCIATION asabove provided of
his deaire to leaee or eell his PRIVATE DWEI,LING, such~owner
shall be free to consunuaate such lease or eale of his PRIVATS
DiWBLLING, unless, within fourteen (14) days after the owner has
delivered his required rotice to ASSOCIATION, ASSOCIATION hae
notified said owner of its intention to exercise its right of first
refusal and to lease or purchase such PRIVATE D~+TELLINiG, such n~tifica-
tion being as above specified. However, in said event, the owner
of eaid PRIVATE D~WELLIN~G sha31 not lease or ~ell said PRIVATE
DwELLING to any party other than the par~y designated to the Board
of Directors ot ASSOCIATION in the aforedeacribed aad required notice,
nor for any lower rental or purchase price, nor on any more favorable
terms and conditio~s than those originally contained in said bona
fide offer presented to ASSOCIATION, without again giving ASSOCIATION
the right of first refusal to lease or purchase such PRIVATE D~+TELLING
in the manner above provided. ~
If the Board of Directors of ASSOCIATI~N shall so elect, it may
cause its riqht of first refusal to lease or purchase any PRIVATE
D~WELLING to be exercised in its name for itself or for a party
approved by said Board of Directora, or said Board of Directors of
ASSOCIATION may elect to cause said PRIVATE DWEI,LING to be leased
or purchased directly in the name of a party approved by it, which
party shall enter into a lease or contract to purchase anci consummate
such contract to purchase said PRIVATE Dti+TELLING in the same manner
as would ASSOCIATION upon its exerciBe of said right of firat re-
fusal to lease or purchase said PRIVATE DiWELLING. 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
election as required herein shall be executed by ASSOCIATION,
and the party approved by the Boarci of Directors of ASSOCIATION.
In the event that the owner of a PRIVATE DiWELLING shall lease
or seli-such PRZVATE DWELLING without first giving written notice
to ASSOCIATION as herein provided, to the end that said Board of
Directors of ASSOC7ATION is not afforded the opportunity to de-
termine whether or not it will elect to lease or purchase said
PRIVATE DiWELLING prior to the consummation of such lease ar purchase
and on the tezms and provisions thereof, then the said ASSOCIATIO~i
8ha11 Y:ave the right to redeem said PRIVATE DWSLLING from such
lease or eale transaction by reimbursing the LESS$E for the amount
of any rent paid in advance, and by executing a lease in favor of
the cwner of such PRIVATE DiF1ELLIlJG identical with that bei. ng
redeemed, or by refunding anto the purchaser of euch PRIVATE
DRiTELL~ the purchase price paid therefor, in which latter event,
the purchaser of euch PRIVATS DWELLING shall convey the same to
ASSOCIATION or to~a party designated and approved by ASSOCIATION.
The right of redemption granted herein shall exiat for a period
of d~ree ( 3) months from the date on which such lease or sale may be
consu~+aanated without prior notice to the Board of Directors of
ASSC?CIATION as required herein, or the date of transfer of possession
pureuant to such sale or Zease,whichever event occurs last, but
such PRIVATE D~WELLING may not be redeemed by the RSSOCIATION from
said lease or sale transaction after the expiration of said three
month period.
In lieu of the procedure provided for in the p=eceding paragraph `
and in the event that such sale or lease of a PRNATE DWELLING Z
has been accamplished without the privr notice to the Board of
Direc:tors of ASSOCIATION as required herein, and without affording
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SPIELVOGEL, GOLDMAN AND CAR1150, P. A. . ATTOR.NEYS AT LAW . MERRITT iSLAND, FLORIDA