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3.11 "CONDO!lINIUM UOCUMBNTS" means this DECLARATION, the
SURVEY SXHIBIT, ARTICLES OF INCORPORATION OF THB ASSOCIATION, and
BY-LAWS OF THS ASSOCIATION.
3.12 "CONDOMINIUM PARCSL" means a UNIT together with the
undivided share in the COMMON SLSMBNTS which is appurtenant to the
UNIT.
3.13 "CONDOMINIUM PROPBRTY" meana and includea the lands and
personal property hereby subjected to condominium ownership,
whether or not contiguous, and all improvements thereon and all
ease~nents and rights appurtenant thereto intended for use in
connection with the CONDOMINIUM.
3.14 "DECLARATION", or 'DECLARATION OF CONDOMINIUM" means
this instrument and all EXeIBiT5 attached as they may be amended
from time to time.
3.15 "INSTITUTIONAL MORTGAGEE" means a State or Federal
Bank, Savings and Loan Association, Insurance Company, Real Estate
Investment Trust, Union Pension Fund, Mortgage Brokerage Company,
the Federal National Mortgage Association, the Federal Home Loan
Mortgage Corporation, any other private or governmental
institution which is engaged in the business of mortgage
financing, an Agency of the United States Government, or like
entity being a mortgagee of a UNIT.
3.16 "LIMITED COMMON SLEMBNTS" means and includes those
COMMON ELEMBNTS which are reserved for the use of a certain UNIT
or UNITS to the exclusion of other UNITS.
3.17 "LIMITED COMMON EXPENSES" means the expenses for which
some but not all of the UNIT OWNERS are liable to the .
ASSOCIATION.
3.18 "OCCUPANT" means the person or persons other than the
UNIT OWNER in actual possession of a UNIT.
3.19 "SPECIAL ASSESS!lSNT" means a share of the funds
required for the payment of COMMON EXPENSES, which are unbudgeted
or for which insufficient provision is made in the budget,
occasioned by unforeseeable and fortuitous events, which from time
to time is assessed against the UNIT OWNERS.
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' 3.20 "SPONSOR" means CROSSED ANCHORS OBVELOPMENT CORP., a
j Florida corporation, its successors and assigns, who have created
~ this CONDOMINIUM.
3.21 "UNIT" or "CONDOhINIUM UNIT" means a part of the
CONDOMINIUM PROPBRTY which is to be subject to exclusive ownership
as specified in this DECLARATION.
3.22 "UNIT OWNER" means the owner of a CONDOMINIUM PARCEL.
The definitions herein contained shall prevail as the context
~ requires whether or not the same are capitalized in their usage
~ herein. '
4. INTEREST IN COirlMON ELEMENTS, OWNERSHIP AND BOUNDARIES OF -
UNITS, PARRING.
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~ 4.1 INTEREST IN COMM~N ELEMENTS. Each UNIT OWNER shall own, ;
~ as an appurtenance to his UNIT, an undivided interest in the ~
~ COMMON ELEMENTS as assigned thereto in EXHIBIT A. The percentage
£ of undivided interest of each UNIT shall not be changed without
€ the unanimous consent of all owners of all of the UNITS (except as
; provided.for in Paragraphs 2 and 16 hereof). No owner of any UNIT
~ shall bring an action for partition or division of his undivided ~
interest in the COMi~ON ELEMENTS.
~ 4.2 BOUNDARIBS. Each UNIT is identified and located on ~
EXHIBIT A hereto and lies within the following boundaries.
3 aooK391 P'GE 997 -
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