Loading...
HomeMy WebLinkAbout1602.~ 4. SurQlus. It will be presumed that the first monies disbursed in payment of costs of reconstruction and repair will be from insurance proceeds. If there is a bala~ce in a con- struction fund after payment of all costs of the reconstruction and repair for which the fund is established, such balance will be distributed to the beneficial owners of the fund in the manner else- where stated. Except, however, that the part of a distribution to a beneficial owner that is not in excess of assessments paid by such owner into the construction fund will not be made payable to any mortgagee. 5. Certificate. Notwithstanding the provisions of this instrument, the Insurance Trustee will not be required to determine whether or not sums paid will be deposited with the Insur- ance Trustee, nor to determine whether the disbursements from the construction fund are to be~upon the order of the Association or upon approval of an arc~itect or otherwise, nor whether a disbursement is to be made from the construction fund, nor to determine the payee nor the amount to be paid. Instead, the Insurance Trustee may rely upon a certificate of the Association made by its president and secretary as to any or all of such matters and stating that the sums to be paid are due and properly payable and stating the name of the payee and the amount to be paid; provided that when a mortgagee is required in this instrument to be named as payee, the Insurance Trustee will also name the mortgagee as a payee of any distribution of insurance pro- ceeds to an apartment owner; and further.provided that when the Association, or a mortgagee that is the beneficiary of an insurance policy whose proceeds are included in the construction fund so ` requires, the approval of an architect named by the Asso~iation will be first obtained by the Association upon disbursements in payment of costs of reconstruction and repair. 13. USE RESTRICTIONS The use of the condominium property will be in accordance with the following provisions. 13.1. Apartments. Each of the apartments will be occupied as a single family private dwelling by the owner, the members of his family, and his social guests, and for no other purpose. No apart- ment may be divided or subdivided into a smaller unit or otherwise transferred without first amending this Declaration to show the changes in the apartments to be affected. No animals or pets of any kind other than household pets will be kept in any apartment, or on any property of the condo- minium, provided that the keeping of any pets shall be s~bject to the rules and regulations adopted by the Board of Directors of the Asso- ciation, provided that they will not be kept, bred or maintained for any commercial purpose and further provided that any such pet causing or creating a nuisance or unreasonable disturbance may be permanently barred from the property, upon three (3) days written notice from said Board oF Directors. ~ The apartment owners will not cause anything to be hung, displayed or placed on the exterior walls, doors.or windows of the apartment building and will not otherwise change the appearance of any~portion of the exterior of the apartment building or the sur- faces of interior building walls facincj common elements without the prior written consent of the Boa"rd of Directors of the Association. No clothes lines or similar devices, and no signs, will'be allowed on porches or balconies or upon any other part of the condominium prop- erty, without the written consent of said.Board of Directors. Automobiles will be parked in the parking areas of the condorninium property adjacent to or near the apartment building, but only in accordance with the rules and regulation of the Associa- tion. There shall be two parking spaces per apartment which shall -14- ` 8~7K348 PA~E1601 - ~ ; ~ ~ - -° - ~, , ~ ~~ ~~ -~ , .~._ . _ :,,~ , . ~ - - - _ _ ~., x__ ~-~.