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(4) A Certificate of the Association }
executed by Its President, or any Vice President, and
Secretary, or any Assistant Secretary, and approving
the purchaser shall be recorded in the Public Records
of St. Lucie County, Florida, at the expense of the
purchaser.
(5) If the Association shall fail to
provide a purchaser upon the demand of the unit owner
in the manner provided, or if a purchaser furnished
by the Association shall default in his agreement to `
purchase, then notwithstanding the disapproval, the
proposed transaction shall be deemed to have been >
approved and the Association shall furnish a
certificate of a royal as elsewhere ~
pp provided which
shall be recorded in the Public Records of St. Lucie i
County, Florida, at the expense of purchaser.
c. Lease or Mort a e. If the proposed '
transaction is a ease or mortgage, the unit owner shall ~
be advised of the disapproval in writing, and the leaoc or ~
mortgage shall not be made.
f
d. Gifts, Devise or Inheritance; Other
Transfers. If the unit owner giving notice has acquired
his title by gift,.devise or inheritance, or in any other
manner, then within thirty (30) days after receipt from
the unit owner of the notice and information required to ~ '
be furnished, the Association shall deliver or mail by
certified mail to the unit owner an agreement to purchase
by a purchaser approved by the Association who will
purchase and to whom the unit owner must sell the unit
upon the following terms:
s
(1) The sale price shall be the fair market
value determined by agreement between the seller and
purchaser within thirty (30) days from the delivery
or mailing of such agreement,. and in the absence of
such agreement by arbitration in accordance with the
then existing rules of the American Arbitration
Association, except that the arbitrators shall be two
appraisers appointed by the American Arbitration
Association who shall base their determination upon
an average of their appraisals of the unit; and a
,)udgment of specific performance of the sale upon the
award rendered by the arbitrators may be entered in
any court of competent jurisdiction. The expense of
the .arbitration shall be paid by the purchaser.
(2) The purchase price shall be paid in
cash.
(3) The sale shall be closed within ten
(10) days following the determination of the sale
price, subject to a reasonable time extension to
permit title examination by the purchaser.
(4) A Certificate of the Association
executed by its President, or any Vice President, and
Secretary, or any Assistant Secretary, and approving
the purchaser shall be recorded in the Public Records
of St. Lucie County, Florida, at the expense of the
purchaser.
(5) If the Association shall fail to
provide a purchaser as herein required, or if a
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g~~'2 Pa~271i