HomeMy WebLinkAbout0509 it shall be determined by arbitration in accordance with the
then existing rules of the AMERICAN ARBITRATION ASSOCIATION,
except that the arbitrators shall be two appraisers appointed
by the AMERICAN ARBITRATION ASSOCIATION, who shall base their
determination upon the average of their appraisals of the
units. A judgment of specific performance of the sale upon
the award rendered by the arbitrators may be entered in any
court of competent jurisdiction. The expense of arbitration
shall be paid by the purchasers.
{c) Payment. The purchase price shall be paid in
cash.
(d) Closing. The sale shall be closed with ten (10)
days following the determination of the sale price.
23.3 Certificate. ~ The termination of the
condominium in either of the foregoing manners shall be evidence
by a certificate of the Association executed by its President and
Secretary certifying as to facts effecting the termination, which
certificate shall become effective upon being recorded in the
Public Records of St. Lucie County, Florida.
23.4 Shares of Owners After Termination. After
termination of the condominium, the unit owners sha own the
condominium property and all assets of the Association as tenants
in common in undivided shares that shall be the same as the
undivided shares in the common elements appurtenant to the owner's
respective units prior to the termination.
23.5 Amendment. This Article concerning termination
cannot be amended without consent of all unit owners and all
record owners of mortgages upon the units.
24. AMENDMENT TO DECLARATION. This Declaration may be
amended from time to time by resolution adopted at any regular or
special meeting of the unit owners called in accordance with the
By-Laws at which a quorum is present, such adoption to be by the
affirmative vote of seventy-five percent (75$) of the total number
of votes to which the unit owners present and voting shall be
f entitled. Such amendment shall be duly recorded in compliance
with requirements of the Condominium Act.
I °
~ 24.1 Alteration of Units. No amendment may change
the configuration or size of any unit in any material fashion,
~ materially alter or modify the appurtenances to the unit, or
ci-iange the proportion or percentage by which the owner of the
parcel shares the common expenses and owns the common surplus
unless the record title owner of the unit and a~.l record title
~ owners of liens on the unit join in the execution of the
amendment.
24.2 Required Approval. No provision of this
Declaration or of the exhibits hereto which requires in order to
be effective, operational or enacted, a vote of the unit owners
greater than that required in Paragraph 24 above,~shall be changed
by any amendment to this Declarationor to the exhibits hereto
insofar as they pertain to said provision(s) unless in addition to
all other requirements of Paragraph 24 above being met, said
change shall be approved by a vote of the membership not less
than that required by this Declaration of exhibits hereto,
whichever shall be applicable, to effect such provision.
DC-28
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