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(c) Gift. If any apartment owner shall acquire his
title~by gift, the co~nuaace of his ownership of his apartment will
oe subject-to the approval of the Association.
(d) Devise or Inheritance. If any apartment owner ~
shall acquire his tit e y _ev se or n eritance, the continuance of
_ his ownership of his apartment will be subject to the approval of the
Association. -
(e) Other Transfers. If~any apartment owner shall _
acquire his title by any manner not considered- in the_ foregoict~j
subsections, the continuance of his ownership of his apartment: will
be obtained in the. manner set forth in Paragraph~14.2.
14.2. A royal b' Association. The approval of the
Association that s requ red for the transfer of ownership of
apartments will be obtained in the following manner:, _
- (a) Notice-to Association:
- ~ 1. Sale. An apartment owner intending to make~a
bona fide sale of his apartment or of any interest in it will give to
the Association notice of such intention, together with the name and
address of the intended purchaser and such other information concern-
ing the intended purchaser as-the Association may reasonably require.
Such notice, at the apartment owner's option, may include a demand by
the apartment owner that the Association furnish a purchaser of the
. apartment if the proposed purchaser is not approved; and i~f such
demand is made,-the notice will be accompanied by an executed .copy of
the proposed contract to sell. _
2. Lease. An apartment owner intending to make-
a bona fide lease of his spar?~aent or of any interest in it Will give
to the Association notice of such intention, together with the name
and address of the intended lessee, such other information concerning
the intended lessee as the Association may reasonably require and an
executed .copy of the proposed lease.
3. Gift• devise or i..heritance; other transfers
j An apartment owner who has obta ned his _t tle by gift,_devise or -
inheritance, or by any other manner not previously-considered, will
f give to the Association notice of the acquiring of his title, togeth-
er with such information concerning the apartment owner as the Asso-
ciation may reasonably require, and a certified copy of the instru-
went evidencing the ,owner's title. -
4. Failure to give notice. If the above required
notice to the Association is not given, then at any time after
receiving knowledge of a transaction or event transferring ownership
or possession of an apartment the Association at its election and
~ without notice ~aay approve of disapprove the transaction or owner-
~ ship.. If .the Association disapproves the transaction or ownership,
it will proceed as if it had received the required notice on. the date
of such di-sapproval. ,
(b) Certificate of_Approval.
1-. -Sale. If the proposed transaction is a sale,
then within thirty (30) days after receipt of such notice and inform-
~ ation, the Association must either approve or disapprove the proposed
~ transaction. If approved, the approval will-be stated in a certifi- _
' Cate executed by the President and Secretary of the Association.
r -
2. Lease. 1 f the proposed transaction is a _
~ lease, then within thirtp~+#~)-days after receipt of such notice-and
irforn?ation the-Association must either approve or disapprove the
proposed transaction. If approved, the approval will be stated in a
~ certificate executed by the President and Secretary of the Associa- .
tion. -
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