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HomeMy WebLinkAbout0706 costs of its personnel and overhead, materials and equipment in regard thereto, and any and all contra.ctors or subcontractors or materialmen as are requiced therefor. . tn) Retain and employ such professionals and other experts whose services may be reasona.bly required to perform its dLties and _exercise its oowers hereunder and to employ the same on such basis as it deems most benef icial. ~ (o) Enter into agreements uQon such terms and conditions and . for such purpo~es as the Mana.qement Firm determines, in its sole discre- tion, necessary for the maintenance, upkeep and use of the common elements and of all of the condominium pr~perty and improvements thereon and by aqreement, - grant concessions and_licenses to persons, firms, c~rporations or associations to provide facilities and servi~es as to and within the condo- minium property and cause coin-vendinq machines and coin-operated equip- ment and devices and pa.y telephones to be installed within the condominium ~ property and to purchase sa.me ~n behalf of and at the cost and expense of the Asso~iation, or rent or lease the same, or enter into agreements re- ga.rdinq th~ same; however, all income derived by the Nanaqement Firm from the foreqoinq s~a.ll inure to the benefit of the Association and the mem- . bers thereof and all expenses appertaining thereto shall likewise be borne by the Unit Cwners. The parties hereto recoqnize that aqreements, ~~ncessi~ns and licenses may be entered into to provide fa~ilities and services as specified herein for very nominal or no compensation wr.atsoever. The Mana,gement Firm may enter into the same in its sole discretion and upon its sole judgment. (p) Make and collect acsessments for such purposes and against su~h partie~ as the Management Firm determines, subject to the provisi~ns of the L`e~la~ation and the ~hibits thereto. (q) If maintenance ~f the co~d~minium property or the unprove- ments thereof referred ~to in the~ L~eclaration or any portior. thereof including ; any unit, units and/or the common elements or any pe.rts thereof, is re- ~ quired, due to lo~s by Act of God or other ca.use, which is ~ther than riormal ~ wear and tear and which loss is less than "very substantia.l" as defined~in the ~ L~eclaration, then, in su~h event, the Management Firm shall undertake to rePa.ir and restore sdid loss. The Mac~agement Firm shall be and hereby i~ ~ authorized and empowered to determine, assess, charqe and levy the costs ~ for repairing and restoring such loss among the U nit Cwners in accordance with the provisions ~f the L~~claration and the Exhibits thereto. ~~T~ INEL` E. Notwithstanding the delegation by the Association; the members ~.~'F~ thereof and the ~oard of Administrati~n to the Mar~agement Firm of the ~ SSESS power to determine and collect a~sessments during the term of this Agree- ~ ment,_ the~Ass~ciation retains the power to m~ke those assessments.a.s are specifically in the L~eclaration and the Exhibits thereto, retained unto it. _vA GE- 7. The Mana.gement Firm shall apply assessments collected as i~T it determines, in its sole discretion, as to those items specified in the , ~ _-~L~' TC L`eclara.tion and ~hibits, including the Management Firm's fees and its ; ~ '=:~~ECT overhead and expenses, all of which shaYl and will be deemed common ex- ~ ~ r SSN! ENTS penses. The Management Firm is hereby expressly gra.nted all such p~~wer > ~ HAVE and authority and rig ht of the Associati~n, by the Asso~iation, and pursuant ` ~ RIGHTS to such power, but not by way of limitation, may file a lien ~r liens against : a Unit Cwner's pa.rcel or, as the case may be, his Interval Cwnership : therein, should such Unit Cwner fail to pa,y assessments or maintenance fees ` W~ R- ~OTT as required and provided in the reclaration and Exhibits thereto; and take . such other action or actions as is provided for in said documents, either in ~ ~o~ ~o~~?~,?~w~~ ~ its own r~ame, or as agent of, the Association. The Management Firm may sTU~wt, nowea? ~ aus~ - 1. ' " MII- 5 •,a o~ 7 r .r~ . : ~.~p 3 ~ _ ~ , . - - - =a.~ - ~ ~ t` _ r. .