HomeMy WebLinkAbout1958 4.~t Association means SAND DOLLAR VILLAS CONDOMINIUM
ASSOCIATION; INC., a F or da not far profit corporation, its
successors and assigns.
4.5 A Laws means -the By-Laws of the Association
existing frost t
m~time.
_ 4.6 Common Elements means the portions of the condomin- "
ium property not nc e n the apartments.
4.7 Common Bx~enses includes-
- (a) Expenses of administration;
{b) Expenses of insurance, maintenance, operation,
. repair, replacement, or betterment of .the common_ elements and of
the portions of the apartaaents to be. maintained by the _ _
Association; - -
- (c) Expenses of insurance, maintenance, operation,
repair; replacements or betterment of the Recreational Facilities.
owned, operated; leased, or maintained by the Association;
(d) Bxpenses of insurance, maintenance; operation;
repair,. replacement or betterment of the sewage -treatment facil-
ities owned, operated, leased or maintained by -the Association.
(e) Expenses declared common expenses by provisions
-of this Declaration or by the By-Laws of the Association;
(f) Any valid charge against-the condominium prop-
- erty as a whole. -
4.8 Common Surplus means the excess of all receipts of .
the Association over the common expenses. -
4.9 Condominium-means that form of ownership of prop-
erty under which units o improvements are subject to ownership by .
~ different owners, and there is appurtenant to each unit, as a part
~ thereof, an undivided share in the common elements.
- -
~ 4.1C Condominium Prate means the lands, leaseholds
_ and personal property that are subjected to condominium gwnership; .
~ whether or not contiguous, and all improvements thereon and all
easements and rights appurtenant thereto intended for us_e-in
connection with the condominium.
4.11 .Institutional Kart a e means a mortgage held by-a
bank, savings and loan assoc ation,-insurance company, mortgage
bank, mortgage banker, union pension fund, or other such institu-~
tions or agencies, private or .public, in the business of provid-
ing mortgage financing, an agency of the united States Government,
- or any lender, institutional or otherwise, Which has loaned funds
for the construction of the condominium or for the purchase of any
unit. -
4.12 Singular, Plural Gender.- Whenever the context so
permits, the use of plural wil include the singular, the use of -
the singular will include the -plural, and the use of any gender
will be deemed to include alI genders. _
~ -
5. DEVELOPMENT PLAN
d -
E The Condominium is described and established as follows:-
- 5.1 Dedication of Recreational and Common Use Properties.
(a) The Developer shall construct certain improve-
} ntents upon the common elements which improvements shall,-among other
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