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~ (1) The sale price shall be the fair
market valu~e determined by agreement between the
seller and purchaser vithin thirty (30) days from the
delivery or mailing of auch agreement, and in the
absence of such agreement by arbitration in
accordance ~,rith the then exiating rules of the
American Arbitration Association vho ehall base their
determination upon an average of their appraisals of
the unit; and a~udgment of specific performance of
the sale upon the award rendered by. the arbitratora
may be entered in any court of competent
,jurisdiction. The expense of the arbitration shall
be paid-by the purchaser.
(2) The purchase price shall be paid in
cash.
(3) The sale shall be closed Within ten
(10) days fo~lowing the determination of the sale
price, sub3ect to s reasonable time extension to
permit title examination by the purchaser.
(4) A Certificate of the Association
executed by its President, or any Vice President, and
Secretary, or any Assistant Secretary, and approving
the purchaser shall be recorded in the Public Records
of St. Lucie County, Florida, at the expense of the
purchaser. .
(5) If the Association shall fail to
provide a purcha8er as herein required, 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 shall be recorded in the Public Records of
St. Lucie County, Florida, at the expen8e of the unit
owner.
j 11.3 Unauthorized Transactions. Any sale, mortgage
{ or lease which is not aut or ze pureuant to the terms of this
Declaration shall be void unless subsequently approved by the
Association.
12. COMPLIANCE AND DEFAULT. Each unit owner shall be
governed by and shal ~comply th the terms of the Declaration
of Condominium, Articles of Incorporation, By-Laws and
Regulations adopted pursuant thereto and said documents and
regulations as they may be amended from time to time. Failure
of a unit owner to comply there~rith shall entitle the
Association or other unit o~ners to the folloWing relief in
addition to the remedies provided by the Condominium Act. '
12.1 Costs and Attorne s' Fees. In any proceeding
arising because o an allege ai ure o a unit o~ner to comply
~ith the term8 of the Declaration, By-Laws or the Regulations
adopted pursuant thereto, and said documents 8s they may be
amended from time to time, the prevailing party shall be -
entitled to recover the costs of the proceedings and such
reasonable attorneys' fees as may be awarded by the court.
12.2 No Waiver of Ri hts. The failure of the
Association or any un t owner to enforce any covenant,
restriction or other provision of the Condominium Act, this
Declaration, the Artic2es of Incorporation, the By-Laws or the
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. BOOK ~80 PAGE 96 4 ~
JORDEN. MELROSE 6 SCHUETTE. P A.. NINTH F~OOR, 1~01 BRICKELL AVENUE, MIAM~. FLOR~OA 33i31 • TELEPHONE i3051 373-7571