HomeMy WebLinkAbout1666ARTICLE VI
FRACTIONAL INTEREST OF UNDIVIDED INTEREST IN COMMON ELEMENTS
AND COMMON SURPLUS APPURTENANT TO EACH APARTMENT UNIT
.The undivided interest in the common elements and common
surplus appurtenant to each apartment unit shall be as follows:
APARTMENT NUMBER
101
102
103
104
105
201
202
203
204
205
FRACTIONAL INTEI2EST IN COMMON
ELEMENTS AND COMMON SURPLUS
1 lOth
1/lOth
1/lOth
1/lOth
1/lOth
1/lOth
1/lOth
1/lOth
1/lOth
I/lOth
In addition, each apartment unit shall have appurtenant
thereto the same undivied interest in and to the limited common
elements, if any, subject, however, to the exclusive right of use
of the limited common elements, which may be assigned as an
appurtenance to a particular apartment unit.
ARTICLE VII
ADMINISTRATION OF CONDOMINIUM BY ASSOCIATION
~ In order to provide for the efficient and effective
administration of the Condominium by the unit owners of apartment
units, a non-profit Florida Corporation known and designated as
INDIVUE CONDOMINIUM, INC., (hereinafter referred as ASSOCIATION)
has been organized and said Association shall administer the operation
and management of the Condominium, and undertake and perform all
acts and duties incident thereto, in accordance with the terms,
provisions and conditions of this Declaration of Condominium, and in
accordance with the terms of the Articles of Incorporation of the
Association, its By-Laws and Rules and Regulations promulgated by
the Association from time to time. A true coP~ of the Articles of
Incorporation and By-Laws are annexed hereto and exp-ressly made a
part hereof as Exhibits B and C respectively. The owner or owners
of each apartment unit shall automatically become members of the
Association upon his, their, or its acquisition of any ownership_
interest entitled to any apartment unit and its appurtenant undivided
interest in the common elements and limited common elements, if
any, and the membership of each owner or owners shall terminate
automatically upon such owner or owners being divested of such
ownership interest in the title to such apartment unit, regardless
of the means by which ownership may be divested. No person, firm,
corporation or any other entity holding any lien, mortgage or other
encumbrance upon any apartment unit shall be entitled, by virtue of
such lien, mortgage or other encumbrance, to membership in the
Association, or to ang of the rights or privileges of such membership.
In the administration of the operation and management of the
Condominium, the Association shall have and is hereby granted the
authority and power to enforce the provisions of this Declaration
of Condominium, levy and collect assessments in the manner herein-
after proveded, and to adopt, promulgate and enforce such rules and
regulations governing the use of the apartment units, common elements
and limited common elements, as the Board of Directors of the
Association may deem to be in the best interests of the condominium.
Notwithstandinng the duty of the Association to~maintain
and rep~ri parts of the condominium property, the Association
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~~~ 350 ~,~ 16s4