HomeMy WebLinkAbout2214 cor.3ominium parcel. If the Board of Directors of the Associat~on
stiall consent, owners~ip of the co$~eainWho ~halllthereuponrbeccmered
to the person or persons so design ,
t~e owner of the condominium parcel, subject to the provisions of
tnis enablinq declaration and the By-Laws of the Association. If,
•haw~ver, the Board of Directors of the Association shall refuse to
co:.sent, then the members of the Association shall be qiven an
oppo:tunity during thirty (30) days next after said last above
.;.eationed thirty (30) days to purchase or to furnish a purchaser
fo: cash, the said condominium parcel at the then fair market value
t~sraof, Should the parties fail ta aqree on the value ~f such
:~J:t11T11W11 parcel, the 5am~ 5ha11 ba detErmined by an .yppr~isc:~
.~.i:ivlil~:~'(~ }~V LYl~: ~~.br11O! Ji1~~C~E: OT ~~1G Circuit Court. in :ii1C3 ''C~'L i:t~l-.
Mr.:,. wii~r~in cY,.: coi~douiinitun i~ locuted, upoii t~n (l~) day5' nozic.:,
on ~tition of any party in interest. The eXpense of appraisa~ shall
s~~ ~aiZ by the said dedeceased o
rer~out ofrthesamounterealized froM
re~resentative of the
t'r.e sale oi such condominium parcel. In the event the then mer,?aers
of the Association do not exercise the privilege of purchasin5 or
furnisning a purchaser for said condominium parcel within such ~eriod
a:.C upon such terms, the person or persons so desigr~ated may then,
ar.d only in such event, take title to thesentativelof thecdeceased
s~:cn person or persons or the legal repre
owner~may sell the said condominium parcel, but such sale shall be
s::~ject in all other respects to the provisions of this enablir.g
Declaration and the By-Laws of the Association.
5, The liability of the ur~it owner under these covenants
s:.all continue, notwithstanding the fact that he may have leased,
rented or sublet said interest, as provided herein. Every purc2-.aser,
; tenant or lessee shall take subject to this Declaration and the By-I.aws
i of ~he Association, as well as the provisions of the Candominiu.-n 1o?ct.
i
; 6. ~cial Provisions re Sale, Leasinq, Mortqaging or otc.er -
Alienation b certain Mort a ees and Develo r and the Lessor under the
Lon~ Term Lease. _
~ ~ (a) An institutional first mortgagee holding a mortgage
on a condominium parcel or the Lessor under the Long Term Lease u~on
becoming the owner of the said condominium parcel, through foreclosure
or by deed in lieu of foreclosure, or whomsoever shall become the,
acquirer of title at the foreclosure sale of an institutional first
~~ortgageor the lien under the Long Term Lease, shall have the un-
q~alified right to sell, lease or otherwise transfer said unit,
including the fee ownership thereof, and/or to mortgage said parcel
without prior offer to the Board of Directors of the Association.
;:ZC provisions of Section A and B, Nos. 1- 5, of this Article XI
s"aall be inapplicable to such institutional first mortgagee or the
Lessor under the Long Term Lease, or acquirer of title, as above
~ described in this paragraph.
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~ (b) The provisions of Sections A and 8, Nos. 1-~.
~ oi this Article XI, shall be inapplicable to the Developer. The
~ said Developer•is irrovocably empowered to sell, leaae, rent and/or
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' U R ~O AGt ~1J
800K P
L/?W OFFICES eART L. COMEN, CITY N/?TIONAL BANK BUILOINO, MIAM1~ FLORI~A
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