HomeMy WebLinkAbout1966 air
However, any person who acquires_an interest in an
apartment (except through foreclosure on an institutional first -
mortgage of record, cr deed in lieu thereof) as specifically
provided in the paragraph immediately preceding, including without
limitation, persons acquiring title-by operation of law, including
purchasers at judicial safes, will not be entitled to occupancy of -
the apartment or enjoyment of the common elements, until such time
as alt unpaid assessments due and owing by the former owner have
been raid. ~ -
9.6. Assi nment of Claim and Lien Rights. The.
Association, acting t roug t e Board of_ Directors, will have the .
right to assign its claim and lien rights for-the recovery of any
unpaid assess~r~nts to the Developer, or to any apartment owner or
group of apartment owners, or to any third party.
10. ASSOCIATION
. The operatior. of the Condominium will be by SAND. DOLLAR
_ VILLAS CONDOMINIUM ASSOCIATION, INC., a Florida not for-profit -
-corporation, membership in which is mandatory by-each apartment
owner, one vote per-unit..~The Association will fulfill its
functions pursuant to the following provisions.
10.1. Articles of Incor ration. A copy of the. Articles
- of Incorporation o the Association is attached- hereto as Exhibit
w Bw -
10.2. The By-Laws of the Association will be~the By-Laws
of the condominium, a copy of which is attached hereto as Exhibit- _
M
~
10.3. Limitation u n Liabiiit of Association. Not- _
withstanding .the duty of. the Association to main ain and repair
parts .of the condominium property, the Association will not be
liable to apartment owners, lessees, invitees or licensees for
injury or damage, other- than.-the cost-of maintenance and repair,
..'caused by any latent condition of the property to be maintained and
repaired bl the Association. - -
10.4. Restraint upon assignment of shares in assets.
The share of a member in the funds and assets of the Assoc tiai
on
cannot be assigned, hypothecated or transferred in any manner _
except as an appurtenance to his apartment.
10.5. Multiple Condominiums. The Association shall be
administering and operating other condominiums in SAND-DOLLAR
VILLAS. It shall be the Association's sole responsibility and
discretion to determine which items of cost, expense and income are- _
attributable in their entirety to the Condaninium, and which ar-e to
be apportioned amongst more than one condominium, as well as the -
basis of such apportionment, and in all events the Associations'
determination as to such attribution shall be conclusive and
- binding, and all costs and expenses attrib~ited to the Condominium,
t whether in their entirety or as an apportionment of an expense
shared by more than one condominium, shah constitute common
expenses of the Condominium.
11. INSURANCE ~ -
e
~ The insurance, other than title insurance, that will be
carried upon the condominium property and the groperty of the
.apartment owners will~be governed by the following pro~~isions:
i
E 11.1. Authority to purchase;-named insured.. All insur-
_ ance policies upon the condominium property will be purchased by
.the Association. The named insured will. be the Association indiv i-
dually and as agent for the apartment owners, without naming them.
provision will be made for the iss:!ance of mortgagee endorsements
and memoranda of insurance to the mortgagees of apartment owners.
t