HomeMy WebLinkAbout1538 E. Perimeter Walls: Easements or encroachments by the peri-
meter walls, ceilings and floors surrounding each condominium unit
caused by the settlement or trovement of the building or caused by
minor inaccuracies in building or rebuilding which now exist or
hereafter exist, and such easements shall continue until such
encroachments no longer exist.
F. Troughs and Gutters: Easements or overhanging troughs or
gutters, downspouts and discharge therefrom of rainwater and. the snb-
sequent flow thereof over condominium units or any of them.
The foregoing (except for air space) are common elements for
the bdnef it of all unit owners.
VI. Percentage of Ownership of Common Elements; Common Surplus;
Sharing in Common Expenses
Each of the 150 units contained within the condominium shall
.share a percentage of the total common expenses; likewise, there shall
be attributable to the ownership of each of the condominium units the
same percentage of any common surplus. The ownership of each of the
condominium units will have an undivided ownership interest in the
same percentage in the common elements. See Exhibit "D" attached
hereto for a schedule. showing the percentage of ownership bf the com-
mon elements and share of the common expenses attributable to each
~ unit.
VII. Association
The name of the association for the operation of this con-
dominium is INDIAN PINES VILLAGE OONDOMINIUM ASSOCIATION, INC. This
corporation is a corporation not for profit organized under the laws
of the State of Florida. A copy of the Articles of Incorporation of
the association is attached hereto as Exhibit "E" and by reference
incorporated herein. The developer reserves the right to amend the
Articles of Incorporation to increase the number of Directors to not
more than eleven (11) to give a broader representation on the Board of
Directors.
VIII. By-Laws of Association
The By-Laws of the condominium association are set forth in
Exhibit "F" attached hereto and by reference incorporated herein.
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BOOK PaGE 1529
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