HomeMy WebLinkAbout2223 E) All rights, remedies and privileges qranted to ASSOCIATION
or the owner or owners of a PRIVATE DWELLING pursuant to
any tern?s, provisions. covenants or conditiona of this
Declaration of Condaminium:or other above mentioaed documenta,
shall be deemed to De caniulative, and the exercise of any one
or more ahall not be ~eemed 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 such party at
law or in equity.
F) The failure of DEVELOPSR to enforce any right, privilege,
covenant or condition which may be granted to the DEVELOPBR -
by this Declaration of Condominium or other above mentioned
doc~unent 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 Institutional Lender or Institutional
Lenders, as said term is herein defined, to enforce any
right, provision, privileqe, covenant or condition which may ~
be granted to it or them by this Declaration of Condominiwn
or other above mentioned documents, shall not constitute ~
*.~~~Q~ ~f the rivht of said party or parties to thereafter ~
enforce such right, privilege, cavenant or condition in tn~
future.
XXXI.
RIGHTS RESERVED UNTO INSTITUTIONAL LENDERS
"Institutional Lender" or "Institutional Lenders", as the terms
are used herein, shall mean and refer to banks, savings anci loan -
association, insurance companies, FHA approved mortgage lenders and
the DSVSLOPER. So long as any Institutional Lender or Institutfonal
Lendere shall hold any mortgage upon any PRIVATE DWEI~LING or PRIVATE
DWSLLINGS, or shall be the owner of any PRIVATE DWELLING or PRIVATE
DWSLLINGS, such Institutional Lender or Institutional Lenders shall
have the =oiiawing rigi~L~, ~~-w~~: -
Aj To approve the company or companies with whom casualty
insurance is placed and the amount of such casualty insurance
to be carried from time to time by the ASSOCIATION.
B) To approve the Insurance Trustee designated by the ASSOCIATION.
C) To be furnished with at least one copy of the Annual Financial
Statement and Report of ASSOCIATION, prepared by Certified
Public Accountant designated by the ASSOCIATION, including
a detailed statement of annual carrying charges or income
collected and operating expenses, such Financial Statement
and Report to be furnished within sixty (60) days follawing
the end of each calendar year.
D) To be given notice by the ASSOCIATION of the call of any
meeting of the membership to be held for the pe~rpose of
considering any proposed Amendment to this Declaration of
Condominium, or the Artzcles of Incorporation and By-Laws of
ASSOCIATION, which notice shall state the nature of the
Amendment being propoaed.
. ;
E) To be given notice of default by any member owning any '
PRIVATE DWELLING encumbered by a mortgage held by any ;
Institutional Lender or Institutional Lenders, such notice
to he given in writing and to be sent to the principal
office of such Institutional Lender or 2nstitutional Lenders,
or to the place which it or they may designate in writing
to the ASSOC7ATION.
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~a. ~5. 2 ~o x2~'D PA~~2zi3
SPtEtVOGEL, GOLDt1AN AND CARUSO, P. A. - ATTORNEYS AT LAW - MERRITT iSLAND, ELORIDA