HomeMy WebLinkAbout0741 6.4. RENTAL PENDING FORECLOSURE. In any foreclosure of a
lien for assessments, the owner of the unit subject to the lien
shall be required to pay a reasonable rental for the unit, and
the Association shall be entitled to the appointment of a
receiver tc~ collect the rent.
7. ASSOCIATION. The operation of the Condominium shall
be by tlUTCHINSON ISLAND Bl;ACH CLUES, Inc.., a corporation not
for profit under the laws of Florida, which shall fulfill its
functions pursuant to the following provisions.
7.1. ARTICLES Or' INCORPORA'T'ION. A copy of the Articles
of Incorporation o the Association is attached as Exhibit G
7.2. TtEE EiY-LAWS of the Association shall be the By-laws
of the Condominium, a copy of which is attached as Exhibit li
7.3. LIMITATION UPON LIABILITY OF ASSOCIATION. NOt-
withstandin~; the duty o the Association to maintain and repair
parts of the Condominium property, the Association shall not be
liable to apartment owners for injury or damage, other than the
cost of maintenance and repair, caused by any latent condition
of the property to be maintained and repaired by the
Association, or caused by the elements or other owners or
persons.
7.4. RESTRAINT UPON ASSIGNMENT OF SNARES IN ASSETS.
The share o a unit owner in t e un s an assets of the
Association cannot be assigned, hypothecated or transferred in
any manner except as an appurtenance to his unit.
7.5. APPROVAL OR DISAPPROVAL OF MATTERS. Whenever the
decision of a unit owner is required upon any matter, wtether
or not the subject of an Association meeting, that decision
s• '1 be expressed by the same person who would cast the vote
of that owner if in an Association meeting, unless the joinder
-of record owners is specifically required by this Declaration.
8. INSURANCE. The insurance other than title insur-
ance that shall be carried upon the Condominium property and
the property of the unit owners shall be governed by the
followiny provisions:
t3.I. PURCEiASE; NAMED INSURED; CUSTODY AND PAYMENT OF
POLICIES.
a. Purchase. All insurance policies upon the
Condominium property shall be purchased by the Association and
shall be issued by an insurance company authorized to do
business in Florida.
b. A royal. Each insurance policy and the agency
and company issuing-the policy shal l De s..bject to approval by
the bank, savings and loan association or insurance company
that, according to the roster of mortgagees at the time for ~
approval, is the owner and holder of the oldest unsatisfied
murty age held by such an institution upon a unit covered by the
policy. The approval may be obtained by directing to the
mortgagee having the right of approval a request in writing for
approval or disapproval within ten days after the receipt of
the request; and if a response from the mortgagee is not
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9 80DK J~~ PAGF
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