HomeMy WebLinkAbout1441 4.4 Association means SAND DOLLAR VILLAS CONDOMINIUM
ASSOCIATION, INC., a Florida not for profit corporation, its
successors and assigns.
4.5 By-Laws means the By-Laws of the Association
existing from time to time.
4.6 Common Elements means the portions of the condomin-
ium property not inc uded in the apartments.
4.7 Common Expenses include:
(a) Expenses of administration;
(b) Expenses of insurance, maintenance, operation,
repair, replacement, or betterment of the common elements and of
the portions of the apartments to be maintained by the
Association;
(c) Expenses of insurance, maintenance, operation,
repair, replacements or betterment of the Recreational Facilities
owned, operated, leased, or maintained by the Association;
(d) Expenses of insurance, maintenance, operation,
repair, replacement or betterment of the sewage treatment facil-
ities owned, operated, leased or-maintained by the Association.
(e) Expenses declared common expenses by provisions
of this Declaration or by the By-Laws of the Association;
(f) Any valid charge against the condominium prop-
erty as a whole.
4.8 Common Surplus means the excess of all receipts of
the Association over the common expenses.
4.9 Condominium means that form of ownership of prop-
erty under which units of improvements are subject to ownership by
different owners, and there is appurtenant to each unit, as a part
thereof, an undivided share .in the common elements.
i
4.10 Condominium Property means the lands, leaseholds
~ and personal property that are subjected to condominium ownership,
f whether or not contiguous, and all improvements thereon and all
_ easements and rights appurtenant thereto intended for use in
connection with the condominium.
i
F 4.11 Institutional Mortgage means a mortgage held by a
bank, savings and loan association, insurance company, mortgage
~ bank, mortgage banker, union pension fund, or other such institu-
tions or agencies, private or public, in the business of provid-
~ ing mortgage financing, an agency of the United States Government,
or any lender, institutional or otherwise, which has loaned funds
for the construction of the condominium or for the purchase of any
unit.
~ 4.12 Singular, Plural, Gender. Whenever the context so
permits, the use of plural will include the singular, the use of
the singular will include the plural, and the use of any gender
will be deemed to include all genders.
5. DEVELOPMENT PLAN
~ The Condominium is described and established as follows:
i
5.1 Dedication of Recreational and Common Use Properties. ~
i
(a) The Developer shall construct certain improve-
ments upon the common elements which improvements shall, among other
-2- a~332 PA~E1439 t
t
F .~i--'.
=tea;