HomeMy WebLinkAbout0875 l-t ) _~~i~l~~~_, 1 i. ~.t,_,ll l;~• j~I'~~ ~nic~d tli.~t the
1 i r~, t. iuc,i~i ,i.i ~,t~~ir ~.~•~1 i n E~:iyrn~:nt of costs of
r~~~:~,r~~.; ru~:t.ic,~~ .~i~~t r~E,.,ir sl?.~11 1~~.~ frc,m insuranc4
E:rc,c~~~~~i,;. lf Lll~iv i~ b~l~nce in a construction
I un~! .~t t~~r E,.~yiu~.nL ~~t ~11 cos~; of the rc~c~nstruction
.in~1 r~•~~.,ir t~or +r~!?ii.t? tht_ funci is establisht~cl, ~uch
t,,~l~~~~~ sl~.,~l l:t~ +li~:Lribut~cl to the beneficial owners
ut ~~~n~l ir~ t.l,~~ ~u.,nn~~r ~l~~v~t?cre states; except,
?~~,~•r,•v• t, t.},,,L tt~~• ~.,,i t. c,f :ii~tribution to
- ~it.•~~~'1 _L~. Lt~J L1Y~~~t'1 L'~cIL ZJ ~~U4 In CCXGI..~JJ U1 (~SJE:~J.r7~~~L'nICJ
~~.~i~l t,y :,uc1, c,r;,,,.r i,u thc~ cc:n~truction fund shall nat
Ei~• i,~.,.i~~ E,~y.ilil~r '.c, ~,ny ~t?GTty~iycr~.
~:.~r~tit~i~:,,t~-, ~Jotr~ithstanding thc provisions
of this instrum~~~t~, tt~~e Insurance Trustee shall not be
r~~<~uir~:d to det~r~nin~ wh~ther or not sums paid by the
. .~E.•~i un~~nt c,?ti~n~r~ up~,n ~ss~:ssrnents shall be d~.~posited
I~y tt~~ F~::s~ci~~tior, ~vi th the Insurance T'rustee, nor
t~ ~It•L~nu~r~e wi~c:ti,~:r th~ ~iisbursc.~mcnts fram the
; t~ uc tic,n t uncl :jr~:: to b~ u~~un the order of th~
r~,~,oc i:+ tion, or uF~c,r~ tha ~pproval of an archi tect
c.: ..thcrwi~.+~, n~r 4vh~th~~r a disbursement is to Le
?.,~~~i.• rrc:r? t,l~c.= cor~~tructic,n fu~d nor to deterrnin~, thc.~
}„ly~•: nor t.i?~ .,ir~c,unt fio b~ paid. Inste~d, the Ins~r-
.~r~,:t Tc ~~t,~-~: ~n:~-~ i~c~ly upon a certificat~~ ~f the
~ti:.~,:;.i.~t_ion m:~~i~~ I,y its President anc~ Secretary us
tc~ :,ny or .ill of ~uct-~ matters and stating thot the
?o t>t.• ,.~i~j ciu~~ :~nd ~roperly payable and
s t:t t'tr:y th~_ n.~ir,~~ c.r the payee anJ the amount to
i~~ E,~i~i; f;rovicl~cl ~h~t when a m~rtgage~ is required
ar~ c1?i ; in~.;truruent: tc~ be named as payee, the Insuranc~
i~r u, t f~~; <;h:~l l~~i ~o n:~rne tt?e mcrtgagee as a payee of
:'.~stributi.:~;~ of insurance pr~ceeds to a unit
u~:r1~-r; ~nd fur~.i~~~~r, ~~rovided, th~~t when the Association,
or inort~~yE-~~ Ci~.~ ~ is the beneficiary of an insurance
F,ulicy rrt?c~sc: E;roc~~eds are included in the construction
t un~, so z~-tauir~~cJ, th~ approval of an architect ` -
n:~,:,~ci t,y th~ i~~::uci:~tion shall be first obtained by
t1,~- ~~~soc.iution F.rior to disbursements in paymer~,t of _
cc.~,ts ut rc•ccnstruction an.~ reF}air.
;
1~~. ?.1~~- cc~••,rrirtic~n~. Tt~~ us~ ot ten Condominiurn property shall
be in <accc~rJ:~nc~~ ~,:.it}, t<<, foll~vring provision5 as long as the
. Conc~~m.in.iun~ ~~xi~,r_ ;~,n~! tt~f~ ap~irLrr~~~rtt building in useful conditions
exists ~~r~c~i? r.h~ !~~~~.1.
~r~±-,~~~r:r.~,. :_~~ct~ c~f thc• aE;~rtmc~nt units shall be
UCCUF~ic'(~ i~I11`y' ~t~ a 5:111()1~ t.~~l~ll`f priv~ltE: d:•relling. ~XC~(~t, c:5
I~rS~ I~Vr>(3 t ~l,~V~ l~`E,,-r ~ flu ~~E:~rLCTi~ht Ufllt (il~/~i k}C' divided OT
:~Ub~1V1C;~'t~ lIl1G ~i(iall uniL.
I~'.'' :;~;~nrn;;n i•1:~•~r.~-r,t :~,nc1 Zirnit•~~i cornman elemcnts. The ,
c~~~r-:c:.t~n ~::_!c•;n•-r:t:: :n~ lir=:it~-~i c~~rn:~c~n e~ments s a be used only
f ~r ~hf. ~;F.: ~ s t i,r ~vl?ici: thEy a~re ; ntended in the furnishings
~f scrvic~~~ ~~~,d i~cili:i~•~~ tor ihe enjoyment of the apartmeRts.
12.:; :I:i l.'.r~•n, i1o F,ersons vrho have nct yet attained the
~?y~ c~t +.hi: r:~.-~i
~ 13) y_.~3r:: si~~ll k~e permittad to reside in any
of tht~ .~E,,,r~t:«•nt~; ~xceE:t v:ith the writt~~n consent of the Ecard
ct ~ir~ctc~r ; or ~h~ Assc~ci~:ti?~n, or of the Develoner, provided,
s•~ch v~rict~~n c,:ns~nt ~vh~n unca given anci relied upon in connection
L.ith tF?c. ~,urct,,rs~_ ~r~d ~c~~uisition of a condominium apartment
unit rn~•; -*F,c~rc~at t~:r rcvok~d or terminated without the
con ~ .~E;;~rtinc,nt o~•rn~r, and ~;rovid~;d,further, that
chil~~r~n un.~~_r such a~,.• may visit ~nd tem~-,orarily reside in an
~jE;~~rr;,~F.nt ur~it ~~rovi:i~~d suc)? tc~~;~~ol~Ty residence shall not
exc~ESd Lhirty (30) ~j,;ys v~ithin any cansecutive twelve-month
p~riod.
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