HomeMy WebLinkAbout0998 • j
Section 2. The Association shall have all of the powers
reasonably necessary to implement its purpose, including, but not -
limited to, the following;
(1) To operate and manage the Condominium and
condominium property in accordance with the purpose
and intent contained in the Declaration;
(2) To make and collect assessments against members to
defray the costs of the Condominium and to refund
common surplus to members;
(3) To use the proceeds of assessments in the exercise
of its powers and duties;
(4) To maintain, repair, replace and operate the
condominium property;
(5) To reconstruct improvements upon the condominium
property after casualty and to further improve the
property;
- -
(6) To .make .and==amend By-Laws-for_the.AssoCiaton and
- ~ - "-"regulations `respecting the use of the condominium -
property; - ~ -
(7) To approve or disapprove the proposed purchasers,
lessees and mortgagees of condominium units as
required by the Declaration;
(3) To enforce by legal means she provisions of the "
Declaration, these Articles, the By-Laws and the
regulations for the use of the condominium
property;
(9) To collect for the management and maintenance of
the condominium and to authorize a management agent
to assist the association in carrying out its
powers and duties by performing such functions as
the collection of assessments, preparation of re-
cords, enforcement of rules and maintenance of the
'i common elements. The association shall, however,
~ retain at all tines the powers and duties granted
them by the Condominium Act, including, but not
I limited to, the making of assessments, promulgation
~ of rules, and execution of contracts on behalf of
the association.
Section 3. All funds and title to all properties acquired
by the Association and the proceeds thereof shall be held only~for
the benefit of the members in accordance with the provisions of
the condominium documents. tdo part of the income, if any, of the
Association shall be distributed to the members, directors, and
officers of the Assoc iation.
Section 4. The powers of the Association shall be subject
to and be exercised in accordance with the provisions of tt~e
Declaration which governs t}~e use of the condominium property.
ARTICLE I
MEMBERS
Section i. A11 unit owners in their Condominium shall
automatically be members of the Association, and their membership
shall automatically terrinate when they~are no longer owners of a
unit. If a nember should soil his unit under the }~ro~~isions of
the Declaration, the grantee from such rr:e;r,!:er will automatically
acquire membership in the Association. Membershi}~ certificates
are not required and may not be issued.
z~~K 327 P~~E 997
D- 3
_