HomeMy WebLinkAbout0804 ~•1 ) ~:~~ri 1 t. ~.1:.~ I1 t;~• ~)TL1r 1nll:~ th~t the
t.i.r~~l, in:~~il.•~. ~Ii~,I,~~r~:c•c! lfl r~~iYrn~~tlt ot COE,tS of
r~cur~~ctru~:liu~~ .~n~i ~~~•f:.~ir shall ~e from insuranee.~
~~roc~~~~ci:,. IC lhi:i~ i:, ~ bal~nce in ~ construction
Func~ ,~t t,~~r ~~.,y~r~~-nt. ot ~11 costs of the reconstruction
.~n.i r~•F~~ir fo~ v.~l~ic.h Lh~_ iund is establisheci, sucFi
t~.,l:~n~:~ ~h:~ll t>~~ cli~.tributcd to the b~.~neficial owners
c:~! t.t?~~ ~ un:~ ir? t.t,~~ ~u.~nn~~r c.~l~~where states; except,
f~~~~:r~~v~ t.h:st, tt;~• ~.•~i L c.i distribution to
t~.~nc~i ic i.,l c,wr?er tt~.~r_ i~ noL in c:xcc~ss of ass~~ssments
~~.~i~! I,y such own~~r t~, th~~ constructian fund shall not
i~~• i~• E,ey:,?~1~ ~o :jny ~inGrtg.,yce. .
C.~rti fi~:.~t~~. Not~vithstanding the provisions
c~f tt~i ins l.rurnc~~~ t. ~ ~he Insurance Trustee sh~ll not be
r~~c~uir~d to d~t~:.rm.i~~e whether or not sums paid by the
.+E.~rL,n~nt own~~rs upr,n asscssments shall be d~~posited
~y th~~ Associ~,tior? witli the Insurance Trustee~ nor
~i~~termine titi~hcth~:r the disbursi~ments frorn the
. ~c,n~~truc.tiun tur~~l .~r~ to k~~: u~on the order of the
AJJQCl.~tion, c,r uE~on the approval of an architect
c.~ :.thc•~~wi~~~, r?c,i~ ~•~heth~r a disbursement is to be
r;~~d~ rr~;,;~ th~~ c:~,n::Lructi~n fund nor to determine the
~;:3yt::: nor th~: .~in~,~~r~t to be paid. Inste~d, the Insur-
.~n.:~- Trusta~ rn.~y i~-1y upon ~ certificatc, ..f the
. :~~•s:,,.ci.~tion m.~~i~• r~y its Fresidc.,nt ancl Secretary :,s
t~, :?ny c;r .~11 of ~uch matters and stating that the
;:Ufll`i ~o k~r F;,~;d .~rt due and. properly }~ayable and
st~tiny th~~ n.~rn., of the paye~ and tt~e am~unt to
t~~ ~,.~id; Frovicf~:cl th~t when a m~rtgagee is required
in ~his instrurncrnt t~ be nameci as payee, the Insurance
i-u ~te~~ sh311 ai :o narne tt?e mortgagee as a payee of
.:istributiu~ ~~f insurance proceeds to a unit
o:~m~~r; ~nci turt.h~~r, provided, that when the Association,
or << ~~zurt~~aye~ th~~t is the beneficiary of an insurance
E,olicy ~vhc~se 4.roc~~~ds are included in the construction
fund, so z~yuirc~ci, the approval ~f an architect
! n:~:~~ed by th~ Assuciatior, shall be first obtained by
s t;~~: %~ssuci~,tion F;rior to disbursements in paymer~z of
€ cc~s~s of reconstruction an~ repair.
i
~ 12. U~~• it,-~,trictic~ns. Th~ use of tc~n t;ondominium property shall
~ b~ in accorJ~ncr. ::itr; t~~: fullovriny provisi~ns as long as the
f Condominium c•xi;*.~ ,~n;~ tt~<~ a~-,.,rt.ruent tuil~ing in useful conditions
~ exists u~on tt?~ l~~ri~i.
~ 1~', i ~~.r~,~:~i.~n~-r.t, i_.sc}, of th~ ~iE.~:rtn~ent units shall be
~ oc.~u~;ieci oni~y ~s sinc~l~_ t.~~nily priv:~te d~•relling. txcept ~s
4
u r~~s.:rv~•c1 t: :~~~v~:lc}~~~r, no .~f:~rtm~nt unit my~ be divided or
~ sub~iivi~_iecl int:; ~ 5:s~~Z1 unit.
~ l:-.~~ ~:,,!ru:ic,n ~~lt~inc~r,t. ; .~n~l lim~it~~c1 corrlnon elements. •The .
= corr.r;:,,n ~.•l~~:r~~•nt~: :r?~~ limi'~-c1 c:>rn~n~n e ements s a be used only
~ for ~h~ o,i~s ic.r ~vt-?:ici: the are ~ntended in th~: furnishings
I~~ ~ • Y
~ of servic~~~ an~l•iaCiliti~'~~ tcr the enjcym~nt of the apartments.
~ -
~
1%.3 :t~ i l.'.r~~n. IJo F;ersc:ns who have not yet attained the
} ay~ of +:h1lLc:~-f~
l"~) y~~rs :h:~ll be permitted to reside in any
~ of tt,~ ,~F,.~r;.~~~~nt~ exccpt v~itt-, th~.~ written consent- of the Board
} ot ~ir~ctv; of ~h~: i,ss~ci.itian, or of the Developer, provided,
s•~ch Yrritt~,n c..nsent ~vh~n once g~ven and relied u~on in connection
_ ti•lith ~t?~ ~,ur~,h.=st:: ~nd acc~uisition of a condominium apartment
unit ~~i~;~ - tt~c-reaf ter u~ r~vokt-d or terminated ~vithout the
3 cons•~~,~ ~ :~partment ~~wn~r, and ~;rovided,further, .that
chilclr~-n un~l~~r such .~g~: may visit and temporarily reside in an
- ~p~rtrn~nt ~i~it F>rovid~~d such t~mporary residence shall not
exc~c.~d thirty ( 30) ~~:,ys witl~in any consecutive ttivelv~-month
r,eriod.
-t
_a
.
SVLJ11~~ ~ ~
~
i; • .
. 1
. ~ ~