HomeMy WebLinkAbout0661 .
XX MANAGEMENT AGREEMENT
A. The Association has entered into a Marngement Agreement, a
copy of which is annexed hereto in the E~hibits and made a part hereof. The
Association has delega.ted to the Manaqement Firm the power of the
Associa.tion, subject to the limita.tions imposed by the Condominium Act,
throuqh its Eoard of Administration, t~ determine the Budget, and t~ mak2
and collect assessments. Each unit ~wner, his heirs, successors and assigns
shall be bound by said Nanaqement~Aqreement for the purposes therein
expressed, including, but not limited to: - ~
(1) Adopting, ratifying, confirminq and consentinq to the execution
~f said h4anagement Agreement by the Associati~n.
(2) Covenanting and promising to perform each and every of the
covena.nts, promises and undertakings to be performed by Unit Cwners in the
~ases provided therefor in said Management Agreement. ~
(3} Ratifying, confirming and approving each and every provi~ion
of ~id Manaqement Agreement, and acknowledging that all of the terms and
provisions thereof are reasorable.
(4) Agree~ing that the persons acting 3s L`irect~rs and Cfficers of
the Association entering into such an Aqreement have not brea~hed any of
their duties or obliga.tions to the Association. ~
It is specifi^~lly agre2d that some ~r all of the persor_s
comQrising the origina.l Foard of Administratian of the Asso~iation, are or
may be stockholder~, ~fficers and/or dire~tors of the Managemen~ Firm, and
that suc?~ circumstan~es shall not and ~annot be ~onstrued or considered as
' a breach of their dLties and obligations to the Associati~n, nor as ~passible -
t grounds to inva.l idate such Mar~.gement A greement, in whole or in part.
I
~ -
(E) The a~ts of the L~ard of Administration and Cfficers of the
Association in entering. into the Manaqement Agreement be and the ~me are
hereby ra.tified, 3pproved, confirmed and adopted by the Unit Cwners and
ea~h of them. ~
(7) The unit owners further agree that the monthly asses~nent~ to
be paid by Unit C~~vners m3y include such spe~ial assessments incurred by a
Unit Cwner for charges for guests and invitees of said Unit Cwner, or
temporary residents in said U nit as to the use of facilities, and f~r any -
~ special servi~es and ch3rges. _
XXI. IVfISC.ELLA NECUS PRCVISICNS
~ .
- A. The Unit Cwners of the respe~tive Condominium parcels and
Interval Cwnerships shall not be deeined to own as part of the TJ nit, the
- undecorated and/or unfinished surfaces of the perimeter walls floors and
~ ~eilings surrounding their respective C~ndominium units, nor shall a~nit
~
owner be deemed to own pipes, wires, conduits or other pubiic utility lines
runninq throuqh a said respective Condomnium unit which is utilized for or
serves m~re than one Cond~minium unit, but shall be~deemed to own the inner
~ decorated and/or finished surfaces of the perimeter walls, floors, and
. ceilings, including plaster, paint, wallpa.per, et, all walls betwee.n units, ~
exterior walls, all load bearinq walls and the flo~r between the first-ground
w. R. scorr floor and second flo~r located within a ~~ndominium unit and, v~~here applic-
~TTO~NErwruw able, the floor between any subsequent higher floors located within a
'GOCOLOltADOAY[NYE condominium unit, and the floor of thA first-gr~und floor, within a
STUART. ~oR~o,? . ~ond~minium unit, are a part of the common elements to the unfinished ~
surfact of said walls and floors. oR ~
' ~ rII-2~ ap0k ~ o r . -~1~ O ~
- - - - - - ~ t ~
_ f=sF ..w~
, . _ ' _ _