HomeMy WebLinkAbout0101 the monthly maintenance assessments for common expenses shall not exceed $ 25.00 for
two bedroom apartments . In addition the Developer obligates itself to pay any amount of
common expenses incurred during that period and not produced by the assessments at the
guaranteed level receivable from other unit owners .
- ARTICLE IX
ASSOCIATION
The operation of the condominium shall be by THE ATLANTIS BUILDING A CONDOMINNri
' ASSOCIATION. INC a corporarion not for profit under ihe laws of the State of Florida, which
~ shall fulfill its functions pursuant to the following provisions:
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; A. Articles of Incorporation . A copy of the Articles of Incorporation of the Association
~ :s attached hereto as Exhibit "B" . ~
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~ B. The By-Laws . The By-Laws of the Association shall be the By-Laws of the condo-
~ r,-~inium, a copy of which is attached hereto as Exhibit "C" .
~ C. Limitation on liabilit of Association . Notwithstanding the duty of the Associarion
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v to maintain and repair parts of the condominium property, the Association shall not be 2iable
~ to dwelling unit owners for injury or damage, other than the ~ost of maintenance and repair,
Y~ caused by any latent condirion of the property to be maintained and repaired by the Associa-
~ tion . or caused by the elements or by other owners or persons .
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~ D. Restraint upon assignment of shares in assets. The share of inembers in the funds
and assets of the Association cannot be assigned, hypothecated or transferred in any manner
except as an appurtenance to his dwelling unit.
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E. Approval or disapproval of matters . Whenever the decision of a dwelling unit owner
~ is required upon any matter, whether or not the subject of an Association meeting, such de-
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cision shall be expressed by the same person ~vho would cast the vote of such owner if in an
re~ Association meering, unless the joinder of record owners is specifically required by this
Declaration .
ARTICLE X
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INSURANCE
~ The insurance. other than ritle insurance, that shall be carried upon the condominium
property and the property"of the dwelling unit owners shall be governed by the following pro-
- - ~•isions:
= A. Authority to purchase; named insured . All insurance policies upon the condominium
; property shall be purchased by the Association and shall be placed in a single company , if
j possible . The named insu--ed shall be the Association individually and as agent for the_ dwelling
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