HomeMy WebLinkAbout2035 ~ (a) The total number of condominium units included
in the condominium upon such amendment being recorded.
(b) A survey of the land and a graphic description
of the improvements"in which units are located which
identifies each unit by letter, name or number, so that
no unit bears the same designation as any other unit,
and a plot plan tl~ereof, or in sufficient detail to identify
the common elements of each unit and their relative loca-
tions and approximate dimensions, as to the additional
Z~ds ar.d the impros~ements loca~e3 thpre~*~ ~,~h~;tted t~
condominium ownership by such amendment.
(c) The undivided share and interest in the condo-
minium property appurtenant to each apartment, and the
percentage obligation for comnon expenses attributable to
each condominium apartmen~, following such amendment.
18. Association and Non-Exclusive Ninety-Nine Year Lease
Agreement. The Association has entered into a Non-Exclusive Long Term
Lease Agreement with Ft. Pierce Construction Corporation, a Florida
corporation, as-Lessor, whereby certain possessory and use interest
are granted in the defnised premises described therein. The Non-Exclusive
Ninety-Nine Year Lease Agreement is for the enjoyment, recreation, use
and benefit of the members of the Association in accordance with the
teMns thereof.
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19. Te~nination. The Condominium may be termi.nated in the fol-
lowing manners, in addition to the manner provided by the Condominium Act.
19.1 Destruction. If it is dete~nined as elsewhere pro-
vided that the apartment building shall not be reconstructed
because of major damage, the Condominium plan of ownership
will be teMninated without agreement.
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' 19.2.Agreement. The Condominium may be terrni.nated at any
! time by the approval in writing of all record owners of
apartments and all record owners of mortgages on apartments.
~ Notice of a meeting at which the proposed teimination is to ~
~ be considered shall be given not less than thirty (30) days :
~ prior to the date of such meeti.ng. Provided that the approval
i of owners of not less than seventy-five (7~'7 percent of the
~ common elements, and the approval of all record owners of
~ mortgages upon the apartments, are obtained at the meeting
~ or within thirty (30) days thereafter, then the approving
~ owners.shall have an option to buy all of the apartments
~ of the owners not approving of termination, said option to
k cantinue for a period of si.xty (60) days from the date of
; such meeting. Approval by an owner of an apartment unit,
~ or of a mortgage encumbering an apartment unit, shall be irrev-
ocable until expiration of the aforerecited option to purchase
~ the apartment of owners not so approving, and if the option
; to purchase sueh apartment is exercised, thensuch approval
shall be irrevocable. The option ta purchase the apartments
~ or units not approving of termination shall be exercised
; upon the following terms: {
~ (a) fixercise of Option. The option shall be exercised ~
by delivery or mailing by registered mail to each of the
record owners of the apartments to be purchased an agreement ;
_ to purchase signed by the record owners of apartments who will
~ participate in the purchase. Such agreement shall indicate which
apartments will be purchased by each participating owner and shall
require the purchase of all apartments owned by owners not
approving the termination, but the agreement shall effect a
separate contract between each seller and his purchaser. ~
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