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However, any person who acquires an interest in an
apartment (except through foreclosure on an institutional first
mortgage of record, or deed in lieu thereof) as specifically
provided in the paragraph immediately preceding, including without
limitation, persons acquiring title by operation of law, including
purchasers at judicial sales, will not be entitled to occupancy of
the apartment or enjoyment of tl~e common elements, until such time
as all unpaid assessments due and owing by the former owner have
been paid.
9.6. Assic~nment of Claim and Lien Rights. The
Association, acting through the eoard of Directors, will have the
right to assign its claim and lien rights for the recovery of any
unpaid assessments to the Developer, or to any apartment owner or
group of apartment owners, or to any third party.
10. ASSOCIATION
~'he operation of the Condominium will be by SAND DOLGAR
VILLAS CONDOMINIUM ASSOCIATION, INC., a Florida not for profit
corporation, membership in which is mandatory by each apartment
owner, one vote per unit. The Association will f ulfill its
functions pursuant to the following provisions.
10.1. Articles of Incorporation. A copy of the Articles
of Incorporation of the Association is attached hereto as Exhibit
„BM
10.2. The By-Laws of the Association will be the By-Laws
of the condominium, a copy of wnich is attached hereto as Exhibit
"C"
10.3. Limitation upon Liability of Association. Not-
withstanding the duty of the Association to maintain and repair
parts of the condominium property, the Association will not be
liable to apartment owners, lessees, invitees or licensees 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.
10.4. Restraint upon assignment of shares in assets.
The share of a member in the funds and assets of the•Association
cannot be assigned, hypathecated or.transferred in any manner
except as an appurtenance to his apartment.
10.5. Multiple Condominiums. The Association shall be
administering and operating other condomini~ums in SAND DOLLAR
VILGAS. It shall be the Association's sole responsibility and
discretion to determine which items of cost, expense and income are
attributable in their entirety to the Condominium, and which are to
be apportioned amongst more than one condominium, as well as the
basis of such apportionment, and in all events the Associations'
determination as to such attribution shall be conclusive and
binding, and all costs and expenses attributed to the Condominium,
whether in their entirety or as an apportionment of an expense
shared by more than one condominium, shall constitute common
expenses of the Condominium.
11. INSURANCE
The insurance, other than title insurance, that will be
carried upon the condominium property and the property of the
apartment owners will be governed by the following provisions:
11.1. Authority to purchase; named insured. All insur-
ance policies upon the condominium property will be purchased by
the Association. The named insured will be the Association indivi-
dually and as agent for the apartment owners, without naming them.
Provision will be made for the issuance of mortgagee endorsements
and memoranda of insurance to the mortgagees of apartment owners.
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BOOK348 PAGE1596 ;
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