HomeMy WebLinkAbout1183 receipt of such notice and information the
Association shall deliver or mail by registered
mail to the apartment owner an aqreement to
!
purchase the apartment concerned by a purchaser
approved~by the Association, or an agreement to
purchase signed on behalf of the Association by
its president and attested by its secretary, who
will purchase and to whom the apartment owner `
must sell the apartment upon the following terms:
(1) At the option of the purchaser, to be stated
in the aforesaid agreement, the price to be
paid and method of payment shall be that
~stated in the disapproved ~ontract to sell
or shall be the fair market value determined
by arbitration in accordance with the then
existinq rules of the American Arbitration
Association, except that the arbitrators -
shall be two appraisers appointed by the
American Arbitration Association who shall
~ base their determination upon an average of
~
~ their appraisals of the apartment. In the
event of arbitration, the purchase price shall
be paid in cash or as agreed upon by the approved
purchaser and seller. A judgment of specific
performance of the sale upon the award ren-
dered by the arbitrators may be entered in any
court of competent jurisdiction. The expense
of the arbit=ation shall be paid by the
~ purchaser.
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~ (2) The sale shall be closed within thirty (30) _
x
~ days afte= the delivery or mailing of the ~
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agreement to purchase, or within ten days
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600KIG~~G PI~F~~
N[ILL 3RIFi1N JEFFRIlS i LLOYD
CNARTERED ~
~ P O 60X ~2~0. iORT W ERCE, F~ORIDA 33460 ~ TELEPMONE (305: 464-9200
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