HomeMy WebLinkAbout1042 shall have no more and no lees than one equal vote in the Associa-
tion. If one individual owns more than one Condominium Unit, he
shall have one vote for each Unit owned by him. The vote of a
Condominium Unit is not divisible. '
ARTICLE VII
COMMON EXPENSES AND COMMON SURPLUS
The Common Expenses of the Condominium shall be shared by
the Unit Owners as specified and set forth in Exhibit "A" as it
may be amended from time to time. ,The ratio of sharing Common
Expenses and assessments as set forth herein, shall remain regard-
less of the purchase price of the Condominium Units, their location
or the building square footage included in each Condominium Unit.
Any Common Surplus of the Association shall be owned by each
of the Unit Owners in the same proportion_•as their percentage
ownership interest in the Common Elements.
ARTICLE VIII
METHOD OF AMENDMENT OF DECLARATION
A. This Declaration may be amended at any regular or special
meetinq_of the Unit Owners of this Condominium called and convened
in accordance with the By-Laws, by the affinaative vote of voting
members casting not leas than three-fourths (3/4) of the total
vote of the members of the Association.
B. This Declaration may likewise be amended by the Developer
with reference to the matters set forth in Articles I and V
hereof and in conformance to said Article I B (4).
C. All amendments shall be recorded and certified as required
by the Condominium Act. Except as provided in Articles I and V
hereof, (i) no Amendment shall change the configuration or size
of any Condominium Unit in any material fashion, materially alter
or modify the appurtenances to any .Unit, a Condominium Unit's
proportionate share of the Common Expenses or Common Surplus, nor
the voting rights appurtenant to any Unit, unless the record
~I owner(s) thereof, and all record owners of mortgages, or other _
liens thereon shall join in the execution of the Amendment; (ii)
no Amendment shall impair or prejudice the rights and priorities
~ of any mortgages or the holders thereof; and (iii) no Amendment i
' shall change the provisions of this Declaration or the Articles
of Incorporation, By-Laws and Rules and Regulations of the Associa-
~ tion, or the Articles of Incorporation and By-Laws of the Property
{ Owners' Association provided for in Article XVIII hereof, with
respect to Institutional Mortgagees of record without the.written ~
approva•1 of all Institutional Mortgagees of record.
D. No Amendment shall change the rights and privileges of
the Developer without the Developer's written approval; however,
the requirement for the Developer's written approval as herein
provided shall terminate as of the third Wednesday in February,
s 1986, or until Unit Owners other than the Developer have elected
a majority of the Board of Directors of the Association, or
sooner at the option of the Developer.
E. Notwithstanding the foregoing three paragraphs, the
Developer reserves. the rights to change the interior design and
arrangement of all Units and to alter the boundaries between
r Units, as long as the Developer owns the Units so altered; except
as provided in Articles I and V, however, no such change shall
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