HomeMy WebLinkAbout1127it shall be determined by arbit_ration in accor~ance with the
rhen existing rules of the AMERICAN ARBITRATIOi: ASSOCIATION,
- except that the arbitrators shall be two appraisers appoinced
by the AMERICAN ARBITRATIOI~ ASSOCIATION, who shall base their
determination upon the average of their appraisals af the
units. A judgment of ~specific performance of the sale upon
the award rendered by the arbitrators may be entered in any
court of comper.ent jurisdiction. The expense of arhitration
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 Cerrificate. The termination of the
condominium in either of the foregoing manners shall be evidence
by a cert.ificate of the Association executed by its President and
Secretary certifying as to facts effecting the terminar_ion, 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
rernination of the condominium, the unit owners shall 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 uni~ts.
24. AMEtaDMEP7T TO DECLARATION. This Declaration may be
amended .from time to time by resolution adopted ar_ any regular or
special meer_ing 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
entir_led. Such amendment shall be duly recorded in compliance
with requirements of the Condominiiun Act.
24.1 Alteration of Units. rao ame~dment may change
r_he configuration or size of any unit in any material fashion,
mat.eriaZly alter or modify the appurtenances to the unit, or
change the proportion or percentage by which the owner of the
parcel shares the common expenses and owns the common surplus
unless the record tir_le owner of the unit and all record title
owners of liens on the unit join in the execution of the
a~^.endment.
24.2 P.equired 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 reguired in Paragraph 24 above, shall be changed
b_y any amendment to this Declarationor to the exhibits hereto
insofar as they pertain to said provision(s) unless in addit.ion to
all other requirements of Paragraph 24 above being met, said
change shall~be approved by a vote of the membership not less
:han r.hat required by this Declaration of exhibits hereto,
whichever shall be applicable, to effect s~ch provision.
DC-28 •
BO~IK 34~ P~GE 1125
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