HomeMy WebLinkAbout2218 owners of all PRIVATS ~WELLINGS as a part of the conunon
expense, although nothinq herein contained shall be construed
ae releasing the party liable for such delinquent asseaement
fran the payment thereof or the enforcement of collection of
such payment by meana other ~han forecloeure.
L) Whenever any PRIVATS DwELLING may be leased, aold or mortgaqed
by the owner thereof, which lease or sale ahall be concluded
only upon compliance with other provisions of this Declaration
of Condon?inium. ASSOCIATION, upon vritten request of the
owner of such PRiVATE DWELLING, shall furnish to the propoaed
. leasee, purchaser or mortgagee, a statement verifying the
status of paytnent of any asaessment which shall be due and
payable to ASSOCIATION by the owner of euch PRIVAT$ DiWELLING.
Such statement shall be executed by the President, Secretary
or Treasurer of the ASSOCIATION, and any leBSee, purchaseY or ~
mortgagee may rely upon such etatement in concluding the
proposed lease, purchase or mortgage transaction, and
ASSOCIATION shall be bound by such statement.
In the event that a PRIVAT$ D~TELLING is to be leased, sold or mortgaged
at the time when payment of any assessment against the owner of said
PRIVATB DWELLING and such PRNATS DWELLING due to ASSOCIATION shall be
in default (whether or not a claim of lien has been recorded by
ASSOCIATION), then the rent, proceede of such purchase or mortgage
grcc~eds, s*:~.~.~ ~ u~r~ ~e€~ bj ge~rohaser Qr ~rtgagee firet
to payment of any then-delinquent assessment or installments thereof
due to ASSOCIATION_before the payment of any rent, proceeds of purchase
or mortqaqe proceeds to the owner of any PRIVATS DWELLING who is ;
reeponsible for payment of such delinquent assessment.
In any voluntary conveyance of a PRIVATE DiWEId,ING, the Grantee shall be
jointly and severally liable with Grantor for all unpaid asseestnenta
agafnst Grantor made grior to the ~ime Qf such voluntary ccinveyanc~,
without prejudice to the rights of Grantee to recover from Grantor the
amounts paid by Grantee therefor.
Institution of a suit at law to attempt to effect collection of the
payment of any delinquent assessment shall not be deemed to be an
election by ASSQCIATION which shall prevent its thereafter seeking
enforcement of the collection of any sums rema~n~ng owing to it by
4 foreclosure, nor shall proceeding by foreclosure to attempt to effect
~ auch collection be deemed to be an election precluding the institution
F of suit at law to attempt to effect collection of any sum then remair~ing
~ owing to it.
~
~ 7~CVI I .
~
~ COMMON SURPLUS
~ pCOMM~N SIIRPLUS", meaning all funds and other assets of the
~ ASSOCiATION (including excese of receipts of ASSOCIATION, including
~ but not limited to assessments, rentg, profits, and revenu~b from
whatever source whatsoever, over amount of the com~non expense), shall
~ be awned by the oowners of all PRIVATE D~WELLINGS in the same proportion
that the undivided interest in CO1rIIrlON PROPERTY appurtenant to each
~ owner`s PRIVATS DiWELLING bears to the total of all ~na~~iaaa intereste
~ in COMMON PROPBRTY appurtenant to all PRIVATE DWELLINGS; provided,
~ however, that said common surplus shall be held by the ASSOCIATZON in
~ the manner, and aubject to the terms, provisions and conditions hereof
imposirig certain limitations and restrictions upon the use and
distribution of said con~aon surplus. Except for distribution of any
insurance indemriity herein provided, or termination of the CODiDOMINIUM,
~ any distribution of common surplus which may be made fram t une to
~ time ahall be made to the then owners of PRIVATE DWELLINGS in
r' accordance with their ercenta e interest in comtnon sur lus as
~f~ P 9 P
~i declared herein.
. ,
~ -2 ~o~ ~'0 P~ 2~i4
10 .15 . 2 ~
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SPIBLVOGEL, COLDMAN AND CARUSO. P. A. - ATTORNEYS AT LAW - MERRITT iSLAND, FLORIDA
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