HomeMy WebLinkAbout1107 Section 3. Coats and Attorne 's Fees. In any proceeding
arising ecause o an a eqe efau t y a Unit Owner, the prevail-
ing party shall be entitled to recover the costa of the proceeding
and such reasonable attorney's fees as may be determined by the
court.
Section 4. No Waiver of Ri hts. The failure of the Corpora-
tion or o a Unit Owner to en orce any right, provision, covenant
or condition which may be granted by the Condominium Documents
shall not constitute a waiver of the right of the Corporation or
Unit Owner to enforce such right, provision, covenant or condition
in the future.
Section 5. Election of Remedies. All rights, remedies and
privi eges grante to t e Corporation or Unit Owner pursuant to
any terms, provisions, covenants or conditions of the Condominium
Documents-shall be deemed to be cumulative and the exercise of
any one or more shall not be deemed to constitute an election of
remedies, nor shall it preclude the party `thus exercising the
same from exercising such other and additional rights, remedies _
_ or privileges as may be granted to such other party by the Condomi-
nium Documents or at law or in equity.
At any foreclosure sale of a Unit,-the Board of Directors _
may, with the authorization and approval by the affirmative vote
of voting members casting not less than sixty (60$) percent of
the total votes of the members present at any regular or special
meeting of the members wherein said matter is considered, acquire
in the name of the Corporation, or its designee, a Condominium
Unit being foreclosed. The term "foreclosure", ae used in this
Section, shall mean and include any foreclosure of any lien, _
including the Corporation's lien for assessments. The power of
the Board of Directors to acquire a Condominium Unit at any
foreclosure sale shall never be interpreted as any requirement or
obligation on the part of the said Board of Directors or of the
Corporation-to do so at any foreclosure sale, the provisions
hereof being permissive in nature and for the purpose of setting
forth the power in the Board of Directors to do so should the
requisite approval of the voting members be obtained. The Board
of Directors shall not be required to obtain the approval of Unit
Owners to purchase a Unit at the foreclosure sale of a Unit due
to the foreclosure of the Corporation's lien for assessments
under the provisions of Article XI-of the Declaration of Condominium
to which these By-Laws are attached and may bid more than the
amount necessary to satisfy said lien at such foreclosure sale.
ARTICLE XI
{ NOTICES
Whatever notices are required to be sent hereunder shall be
effective only if delivered or sent in accordance with the applica-
ble provisions for notices set forth in the Declaration of Condomi-
nium to which these By-Laws are attached.
` ARTICLE XII
LIABILITY AND INDEI~IIJIFICATION
No Director and agent of the. Board of Directors shall be
liable for his, her or its actions as such except where guilty of
gross negligence or willful misconduct. The Corporation shall
indemnify every Director and every officer, their heirs, executors
and administrators, against all loss, coat and expense reasonably
incurred by him in connection with any action, suit or proceeding
to which he may be made a party by reason of his being or having
a been a Director or Officer of the Corporation,. including reasonable
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