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201807839
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Last modified
12/5/2018 3:21:40 PM
Creation date
12/5/2018 3:19:04 PM
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DEEDS
Inst Number
201807839
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201807839 <br />minium is terminated, (2) repair or replacement would be illegal under any state or local health or <br />safety statute or ordinance or (3) Eighty Percent (80%) of the unit owners, including the unit <br />owner of every unit that will not be rebuilt and every unit to which a limited common element <br />that will not be rebuilt is assigned, vote not to rebuild. The cost of repair or replacement in <br />excess of insurance proceeds and reserves is a common expense. If the entire condominium is <br />not repaired or replaced, (1) any insurance proceeds attributable to the damaged common <br />elements must be used to restore the damaged area to a condition compatible with the remainder <br />of the condominium, (2) any insurance proceeds attributable to units and limited common <br />elements that are not rebuilt must be distributed to the owners of those units and the owners of <br />the units to which those limited common elements were assigned, or the lienholders, as their <br />interests may appear, in proportion to the allocated interests of all the units. If the unit owners <br />vote not to rebuild any unit, that unit's allocated interest is automatically reallocated, and the <br />association shall record an amendment to this Declaration reflecting the reallocation. <br />24. Liability. Any tort liability arising from the use of common elements shall be a <br />common expense. Any deficiency in insurance coverage of such liability shall be borne by all <br />unit owners in proportion to the allocated interests shown in Section 7 hereinabove. <br />25. Condemnation. If any part of the common elements is condemned for public use, the <br />award shall be payable to the association. Actual damage to physical improvements shall be <br />repaired and the fund created by the award shall be administered as insurance proceeds in the <br />manner set forth in the By-laws of the association. <br />26. Use of Common Elements. The association and each unit owner shall have the right <br />to use the common elements, other than limited common elements, and shall have an easement <br />over the common elements for that use. <br />Page 10 of 15 <br />
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