HomeMy WebLinkAbout2019 , recover a money jud~nenfi for unpaid assessme~?ts without
thereby waiving the lien securing the same. In the event -
a mortgagee of a first mortgage of record or any other
person or entity shall obtain a~title to the apartment unit
as a result of the foreelosure of a first mortgage, or in
the event an institutional mortgagee as to a first mortgage
of~record shall obtain tit~e to an apartment unit as the result
of a conveyance in lieu of first foreclosure of such first
mortgage, such acquirer of title, its successors and assigns,
shaZl not be liable for that share of the co::r::o^ ~x~~.^.~~G ^r
assessments by the Association chargeable fio the apartmenf
unit, or fihe owner thereof, whi.ch~became due prior to the
acquisition of title by such institutional mortgagee or
purchaser at foreclosure sale, and any such unpaid share of
com~non expenses, or assessment, chargeable agai.nst any suc}~
foreclosed apartment unit, or against apartment unit trans-
ferred in lieu of a foreclosure, shall be deemed a common
expense, fio be paid in the same manner as other conunon ex-
penses of the Condominium or all of the Condominium unit
owners.
8.3 Ft. Pierce Construction Corp. shall be excused from
the payment of the share of the comnon expenses and assess-
ments related thereto for a period of subsequent to the
recording of the declaration of condominium and terminating
not later than the first day of the fourth calendar month _
following the month in which such declaration is recorded,
or for a period terminating with the first day of the month
of the third succeeding calendar month after the closing of the
purchase and sale of any condominium unit within the condo-
minium to a unit owner who is not the developer, or nominee
of the developer, whichever shall be the later date.
9, Association. The operation of the Condominium shall be by -
COLONNADES CONDOMINIUM ASSOCIATION N0. 11 , INC., a corporation not for s
profit under the laws of the State of Florida, which shall fulfill its i
t funetions pursuant to the following provisions. '
t
; 9.1 Articles of Incorporation. A copy of the Articles of ;
; Incorporation of the Association which sets forth its power~
and duties, is attached as an Exhibit C.
5 9.2 By-Laws. A copy of the By-Laws of the Association is `
~ attached as an Exhibit D. ~
~
~
9,3 Limitation upon Liability of Associ.ation. Notwith-~ ;
~ standing the duty of the Association to maintain and repair
y portions of the Condominium property, the Association shall
~ not be liable to apartment owners for injury or damage, other -
~ than the cost of maintenance and repair, caused by any latent }
~ condition of the property to be maintained and repaired by
„ the Association, or caused by the elements or other owners ;
~ or persons, i
~
- ~
9.~~ Restraint upon assignment of shares and assets. The F
~
share of a member in the funds and assets of the Association
~ cannot and shall~not be assigned, hypothecated or transferred ~
' in any manner except as an appurtenance to his apartment unit. ~
" ~
' 9.5 Approval or disapproval of matters. Whenever the ~
decision of an apartment owner is required upon any matter,
whether or not the subject of an Association meeting, such `
-=2 decision shall be expressed by the same person who would cast ~
the vote of such owner if in an Associa~ion meeting, unless
the joinder of record owners is specifically required by this
;i Declaration. '
:
3
~ ~
- Boox23`7 ~~~E201? -
- , .
~
~ .
~ ~'`>a.~~ ~ ~'y~`
~ ~ ~-~:,~m~~'
C a ~ .
"~2~~~ ~ `~~5, ~ ~a~
'-~~-rr- u~ ~z`:- =
~~~~~~„,~r ~
~.~_bc~, _ rs~~`E.~.~.~- ~ «'u-.,~aLs