HomeMy WebLinkAbout1678
cash or upon the terms of the contract submitted to the
Association.
{c) The sale shall be closed within thirty
(30) days after the delivery or mailing of the agreement to
purchase, or within twenty (20) days after the determination of
the sale price if such is by arbitration, whichever is the later.
(d) A Certificate of the Association
executed by its President and Secretary and,approving the
purchaser can be recorded in the Public Records of St. Lucie
County, Florida , at the expense of the purchaser.
(e) If the Association shall fail to
provide a purchaser upon the demand of the apartment owner in the
manner provided, or if a purchaser furnished by the Association
shall default in his agreement to purchase, then notwithstanding
the disapproval, the proposed transaction shall be deemed to hav
tieen approved the Association shall furnish a Certificate of
Approval as elsewhere provided, which can be recorded in the
Public Records of-
2. Lease: If the.proposed transaction is a
lease, the apartment owner shall be advised of the disapproval in
writing, and the lease shall not be made.
3. Gifts; devise or inheritance; other
transfers: If the apartment owner giving notice has acquired
title by gift, devise or inheritance, or in any other manner, then
within thirty (30) days after receipt from the apartment owner of
the notice and information required to be furnished, the
Association shall deliver or mail by registered mail to the
apartment owner an agreement to purchase the apartment concerned
by a purchaser approved by the Association who will purchase and
to whom the apartment owner must sell the apartment upon the
following terms:
(a) The sale price shall be the fair market
value determined by agreement between the seller and purchaser
within thirty (30) days from the delivery or mailing of such
agreement. In the absence of agreement as to price, the price
shall be determined by arbitration in accordance with the then
existing rules of the Ameri~an Arbitration Association, except
theat the arbitrators shall be two appraisers appointed by the
American Arbitration Association who shall base their
determination upon an avera~e of their appraisals of the ~
apartment; and 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 the arbitration shall
be paid by the purchaser.
(b) The_ purchase price shall be paid in
cash or upon such terms and conditions aggreed by the seller and
purchaser.
(c) The sale shall be closed within thirty
(30) days following the determination of the sale price.
(d) A Certificate of the Association
executed by its President and Secretary and approving the
purchaser can be recorded in the Public Records of St. Lucie Co,
Florida.
(e) If the Association shall fail to
provide a purchaser as required by this instrument, or if a
purchaser furnished by the Association shall default in his
agreement to purchase, then notwithstanding the disapproval such
ownership shall be deemed to have been approved, and the
Association shall furnish a Certificate of Approval as elsewhere
provided, which can be recorded in the Public Records of St.
Lucie County, Florida.
4. Mortgage: No apartment owner may mortgaae
his apartment nor any interest in it without the approval of the
-19- B~DK~~ PbGE~V / V