HomeMy WebLinkAbout0982 ~ G. OOt~~'JN SURPUIS means fi~ exaess of aIl receipts of the
Agsociation, in~luding but.not limit~ed to asseasments, rents, profits
ar~d r~evenues on aco~ount of ~.he a~ron elements, over and above the
amount of eatumn expenses. ~ ~
~ ~ _ H. OO~II~MI~IItRrI ;neans that folan of ow~c~ership of rFal prop- ~ ~
erty which is crmprised of u~its that may be owned by one or mrare own-~
ers, a~nd there is appurte;~ant tio each tnit as a part thereof an un-
~ divided share in the ~cmm~n elements. As used herein, the wc3rds Rthe
Corx~aminiu~m" refer bo TREAS~JRE OOVE D(~IES, a Oorr3ominit~n.
- ~ I. ~JONDOMINI[~1 PA~SL means a unit as herein defin~. ~ .
- Each eondcminium , paroel is cleet~ed a separate parcel of real prvperty,
the ownership of which . is in fee si~le. ~ere shall pass with each ~
unit as app~tenances thereto: .
(1) An undivided share in the cart~mn elements. - _ ~
2) Zfie exclusive t ight ~ t~ use - s~ch p~rt ion of the .
' c~am~ron elements as may be pravide~d by this Declara- ~
tion.
( 3) An exclusive ea_~ement fnr the use of the air spece .
- occvp~ied by a unit as it exists at any ~erticular time ~ ~
~ arxi -as a~nit may be lawful~y aitered or .reeonstructed
fran time tQ time, which easement shall be~ terminated
autvmatically in any air space which is vacated fran -
i time t~o time .
j
~ (4) An u~dividea share in the ccmrron surplus.
~ - ~ (5) Such othet apFxnrt,enanc~es as may i~e ~rovided herein
, ~ ~ .
( or by l~w.
Zhe vwne~^ of a~nit is entitled to the exclusive possesssion -
of such unit. 7he awner shall t~ entitled to use the oamRan elements
in acc~ordance with the p~poses for ~fiich they are ir:tended, but rx>
- such use shall hinder or encroach upon the lawful . righ~s ~f vwners of -
other tn its.
~ J. QO[~IDOi~IINIUM PADPER'rY means and includes tl~ lands that
~ are subjected to oondaniniun awnership, sefiether or not a~ntigu~ug, and =
- , r
-3- 600K JQ;1 PACf _
. ~EWIS, VEGOSEN ANU ROSENBACH~ t~A.,ATTORNETS AT LAW
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