HomeMy WebLinkAbout0373 ting a portion of the Common Elements, the insurance pro-
ceeds received by the Insurance Trustee shall be paid to
Owners and their respective mortqagees, as their incerests
may appear, in the manner and in the proportions herein .
provided for the distribution of excess insurance proceeds.
Contracts for repair,-replacement or reconstruction of loss ~i
or damaqe shall be let by the Board in the name of the !
Condaaninium Association and said Board shall authorize
payments to be made thereunder by the Insurance Trustee.
The Board may enter into such aqreements with the Insurance
Trustee as it may deem in the best interests of the Condo-
minium Association for the purpose of effectuating the
intent hereof, provided that such aqreement shall not pre-
judice the rights of Institutional Mortgagees.
Any and all of the above stated_or any other insurance,
including re-insurance placed or contracted for by the ~
Condominium Association, must be placed with an insurer
licensed and authorized to do business in the State of
Florida which maintains a licensed agent in the State of .
Florida. ~ ~
Certain provisions in this Article X are for the benefit of
mortgagees of Condominium Parcels and-all of such provisions
are covenants for the benefit of such mortgagees and may be
enforced by them. This Article X may not be amended without
the written consent of the record owners of all Institutional
~Iortgages c~n Condominiurn Parc~Is iti this Condaminium." -
Article XIV, Default, at Page 26, is amended by _ ~
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substituting the following sentence in lieu of the last
sentence thereof: ~
"In any such action, the prevailing party shall
r~cover all costs of such action, incluciing rea able
attorneys' fees, which sums together with all ot er relief
~ granted shall be borne by the losing party."
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; Exhibit "B" to the Declaration of Condominium,
~ being an apartment location plan which includes a survey, is ;
~ hereby amended for purposes of clarification by the attached
Exhibit "C", being a survey of the land and a graphic descrip-
tion of the improvements and apartment locations of Oceana
Oceanfront Condominium One.
Exhibit "D" to the Declaration of Condominium,
being the By-Laws of OCEANA OF HUTCHINSON ISLAND, INC.,
$ having been filed in the Public Records of St. Lucie County,
~ Florida, without the signature of the secretary of the cor- i
~ poration certifying the adoption of said By-Laws, is amended ~
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~ to reflect the proper adoption thereof, and the execution of
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