HomeMy WebLinkAbout1074 Chapter 711), the Plaintiff recorded on September 10, 1970,
in the Public Records of St. Lucie County, Florida, with
amendment recorded February 2, 1971, a Declaration of Condo-
minium, paragraph XI of which reads as follows:
ARTICLE XI
"PROVISIONS RELATING TO SALE OR
RENTAL OF CONDOMINIUM UNITS
No restrictions are placed herein as far as
selling any condominium unit. The developer,
however, shall have for a period of ninety-
nine (99) years from the date of this Declara- ,
tion the exclusive right, in the absence of
use by the Owner or his designated quest, to
rent lots which are a part of the Declaration
at scheduled rates promulgated from time to
time by the Developer. The Developer shall
retain for its services 50$ of the gross
amount of the rental collected on any lot with
the remaining 50y reserved for the benefit of
the lot owner. As partial consideration for
the aforesaid, the Developer shall undertake
an advertising program to promote the rental
of said units, both those units owned by the
Developer and those units sold and in private
ownership.
This exclusive right of the Developer to rent
lots which are a part of the Declaration shall
be binding on each member, his successors and
assigns, and shall constitute a covenant run-
ning with the land of each condominium unit."
The net effect and intent of the foregoing provision was to
provide the Plaintiff with a 99-year covenant running with
~ the land under which the Plaintiff has the exclusive right
to rent lots, in the absence of tt~cir use by t2',2 O~T,er .^,r
his designated guests, keeping 50% of the gross rental
income from the rent and providing the remaining 50y to the
respective owner.
3. The Court finds that the Plaintiff may bring this
action under Florida Law; the Declaration of Condominium was
properly recorded in the Public Records of St. Lucie County,
Florida; each member of the Defendant condominium association
took title to their respective lots subject to the Declaration,
including the language of the above-quoted paragraph XI; all
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