HomeMy WebLinkAbout2237(1) Assessment of the Developer as a Unit
Owner for capital improvements.
(2) Any action by the Association that would be
detrimental to the sales of Units by the Developer; however,
an increase in assessments for common expenses without dis-
crimination against the Developer shall not be deemed to be
detrimental to the sales of Units.
27.04 Prior to~ or not more than sixty (60) days
after, the time that Unit Owners other than the Developer, elect
a majority of the members of the Board of Directors of the
Association, the Developer shall relinquish control of the
Association, and the Unit Owners shall accept control. Si-
multaneously, the Developer shall deliver to the Association
all property of the Unit Owners and the Associaton held or
controlled by the Developer, including, but not limited to,
the following items, if applicable, as to each Condominium
operated by the Association:
(1) The original, a certified copy, or a
photocopy of the recorded Declaration of Condominium,and all
amendments thereto. If a photocopy if-provided, the same shall
reflect the recording information and shall be certified by
affidavit by the Developer or officer or agent of the
Developer as being a true and complete copy of the actual
recorded Declaration; Rylaws; minute books and other books and
records of the Association, if any; any house rules and rep,ula-
tions which may have been promulgated; and a certified copy
of the Association's Articles of Incorporation.
(2) Resignations of officers and ~embers of the
Board of Directors who may be required to resign for reason
of the requirement that the Developer relinquish control of the
Association.
~(3) An accounting or accountings for Associations
funds, including capital accounts and contributions.and an audit
which audit and accounting need not be certified.
(4) Association funds or control thereof.
(5) All tangible personal property that is re-
presented by the Developer to be part of the coumon elements, that
is ostensibly part of the common elements, or that is property
of the Association, and inventories of these properties.
(6) A copy of the plans and specifications utilized
in the construction of improvements and supplying of equipment
to the Condominium and in the construction and installation
of all mechanical components serving the inprovements and the site,
with a certificate in affidavit form of the Developer,his agent
or of an architect or engineer authorized to practice in the
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