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days follo~?inq the delivery to the Condominium association
of such notice and a copy of such offer in tae case of a
proposed sale, said time to be of the essence, and within
ten (10) days following the delivery to the Condominium
Association of such notice and a copy o: such offer in the
case of a p roposed lease, said ti:~e to be of tY~.e essence.
In the event that the Condominium Asscciation (or its assignee)
shall elect not to purchase a Unit or an interest t:~erein
pursuant to this Article XI A (1) or shall elect not to
lease a Unit pursuant to this. Article X3 A (1), the Condominium
Association shall deliver to the Unit Owner, within the
respective thirty (30) day and ten (10) day periods hez~tofore
provided, a certificate executed by the President or Vice-
President of the Condominium Association reflecting such
election, which certificate shall, in the_case of a sale,
and may, in the case of a lease, be recorded- in tre'Public
Records of St. Lucie County, Florida.
2. In the event that the Condominium Association
(or its assignee) shall elect to purchase ary Unit or any
interest therein pursuant to Article XI A (1) hereof, title
shall close on the date specified in the bona fide offer to '
purchase, or, if no date is specified in said offer, on a
date forty-five (45) days after the giving of notice by the
Condominium Association (or its assignee) of its election to
purchase said Unit.
'3.~ In the event that the Condominium Association
(or its assignee) elects to lease any Unit pursuant to
Article XI A ~(1) hereof, the Unit Owner shall execute and
deliver to the Condominium Association (or its assignee),
upon demand, a lease between the Unit Owner as landlor3 and
the Condominium Association (or its assignee) as tenant,
containing terns and conditions as set forth in the bona
fide offer to lease.
4. The provisions of Article XI a (1) hereof
shall not apply to:
(a) Any sale or lease of a Unit of •.~hich De-
veloper is the Unit Owner;
(b) Any transfer of any Unit by gift, devise
j or inheritance; or
~ (c) The sale or lease of any Unit by a Unit
~ Owner to his spouse, his c::ild, his carent, t~.e parent o=
his spouse, his brother or sister, the brother or siste~ of
his spouse, or the spouses of any o: the foregoing.
5. I:. the eve..^.t o_` any ce°ault oa tae-pd.t of
any Unit Cw e= (:acludirg, ~rit::out li:~itatidn, DehelODer)
~ u.-:der ary :~ortcase w`n:ch :s a Lien upcn r.:s ..:.:t, a.^.y sale
of t.1e i:nit L•^CieZ-Forec_osure, iac:.udizg deliver of a deed
to :ae .:ar=;acee lieu of .orec:os::.e, s:~a+! be :Wade .=ee
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