HomeMy WebLinkAbout0802 11. tt.~cc~nst.ruc.t.i~~n ~~r i~•~,~ir .,It~~r casualty.
11.1 U~~t~~rmin~ti.~~n C~, r.•construct or r~ air. If any par't of
th~.~ Condoininiwn E~rop~r~y s~~ E amage y casual Cy~ whether ar
• nat it ~h.~ll b~ r~~constructe~ or repaired shall be determined in
the i ollowiny m~nnc.~r :
~:c~n~n~on elc-m~~nt, 1 f the damaged improvement is
.s e;u~~unun c~ .~•u~c~r~t,, t~~ d.~n~ae~ed pro~,~.~rty shall be r~.~constructed
or r~~>~ir~~ci~ unl~~ss it i~ d~:termzned in the manncr elsewhere
E~rovici~~i Li?.,t thc: Concloininium shall be terminated.
( t~ } (1 ) 1.~ s~c; r~1~,~n.~~ . I f the damaged improvement
is tl~~ ~p~rtm~nt l~ui din , and if apartments to
which fifty ~,erc~nt (50~~ ~f the common elements
- ~~r~ ~+p}3urt~.~nant ai~~ found by the Board of Oirectors
oC the Associ~ti~n to ba tenantable, the damaged
proE~erty shall be reconstructed or repaired, unless
~~ithin sixty (60)_days after the casualty, it is
de ter~nin~~ul by agre~~mer~t in the manner el sewhere
pr~vid~d th~t th~• Condominium shall be terminated.
( 2) M:~ ~ or d:~m~~~~~ . I f the damaged improvement
is tt~~ ap~rt.,~~r~t building, ~,nd if apartments to ~
Yri?ich mort: tt~~,n titty ~~.~rcent (50;b) of the common
elc~rnents ~r~~ ~+~:purtenant are found by the Board of
Directors to b~ nat t~~nantable, tt~en the damaged pro-
~,erty r~i11 not h~- r~.~constructed or repaixed, and the
Cond~minium wi11 b~• terminated without agreement
elsevrhere provided, unless within sixiy (60) days
~ aic~r th~ casu~lty, the avmers of eighty percent
(t~uX;) c,f th~ cor?unon ~~lements agree in ~vriting to
suct, reconstruction or re~air. .
(c) C~~rtificai~~. The -Insurance Trustee may rely
' up~n s certi~ica'- tc~
o the Association made by its President
~ and attc~sted by its 5~cretary as to whether or not the
~ dan~dgc~d ~roperty is to be reconstructed or repaired.
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' 11.2 4'3~n~ and s ecifications. Any reconstruction or s
repair r,?ust l5e s~bsLantia y in accordance with the plans and
sp~citic~ti~:ns, for the original building,. or, in lieu thereof, ~
; accarcliny to ~11dns ~nd spc~cifications approved by the Board of `
Directurs of the Associatian, and if the damaged ~roperty is in
th~~ ~pdrtm~nt building, by the owners of not less than eighty
. ~~F~•rcer~t ( r;U;~:1 Ut th~~ conunon el e~~~ents, including the o4vners of
~11 ;t,,rn~~3~~~ .~p:~rtments, tc:~~ther v:ith the approval of the
institution.~l ~n~~rtg~~gees holding f?_rst mortqages upor? all
ci:~m~U~ci ~F~<tr~m~:nts~ v,hict? .~~~~,roval shall nat be unreasonably
. vri thhc:l~f . ,
11.3 i;.~•, .~.;~siLilit~ . If tht~ damage is only to Lhose
F>~iLs ~f on~_• :,~~artmc~nt or :~1?ict? the responsibility of main- ~
t~nanc~ ana r~pair is tt~~t. of .tt~e. dpartment owner~ then the
said owner sh~ll b~ responsible for reconstruction and repair
after casualty. ~In ull othcrr instances the responsibility
of reconstruction ~nd repair after casualty shall be that of
thc Associati~n. ~
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11.~1 E:~>tim.~t~~s of c~sts. Immcdiately after a determination ;
is m~~d~ to ~.>build ~r rep~ir damac~e to property far ahich the
Associ~tic~n t?~s the res}~onsibility of reconstruction and repair, t
the ~~s~ociatian shall obt~in reliable and detailed estimates
of tt~~ cost t~ r~build or reE~air.
8~ ~ ~?3 ~E 8~
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