HomeMy WebLinkAbout0088 the Condominium Assxiation shall furnish to the insurance carrier,
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the insurance Trustee, and the aWners and m~rtgaqees of each damaqed
or destroyed apartment, a copy of tt~e determination allocatinq the
percentages o~ damage to Co~nanon Elements and to each apartment. The
Condominium Association shall then negotiate for payment and disburse-- ~
ment of such insurance proceeds as may be payable, and the sauae shal~.
be delivered to the Insurance Trustee.- ~
2. Determinat~ioh to Repair or Re2iuild - If 25 or
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more apartments are wholly tenantable after a casualty, or in the
event less than 25 apartments are tenantable but the oamers of
102 apartments elect to rebuild .the damaged or destroyed improve-
ments, then the Condominium Association shall promptly proceed
with such reconstruction. Any meeting of awners required for the
' purpose of determining the question of reconstruction shall be
held within 90 days of the date of the casualty.
2f the damage is of a minor nature, the Condominium
Association may obtain bids for the cost of repairs from appropriate
contractors without engaging the services of a registered architect.
In all other cases, a registered architect shall prepare any neces-
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sary plans and specifications and shall receive and approve bids for :
. construction ar~d, if deemed necessary by the Condominium Association, ;
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shall supervise the reoonstruction of improvements. The Condominium
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; Association shall have the responsibility of executing all necessary
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~ contracts for restoration, shall arrange for the disbursement of all
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' construction funds, the approval of work, and any other matters
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i pertaining to the repairs or reconstruction required. The premises
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shall be repaired or reconstructed to substantially the same con-
ditfon existing im~aediately prior to the casualty and substantially
in accordance•with the original plans and specifications of this
Condominium prepared by Architects Stebbins and Scott dated August
16, 1973, and any subsequent modifications thereto, (copies of
which plans and specifications and any modifications thereof have
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