Laserfiche WebLink
<br />~ <br /> <br />20Q709536 <br /> <br />19.0.2 Any delinquency in the payment of assessments or charges owned by an owner of a unit subject <br />to a first mortgage held or insured or guaranteed by such eligible mortgage holder or eligible insurer or <br />guarantor or any other default in the performance by the owner of any obligation under this Declaration, or the <br />Association's By-Laws or Rules and Regulations, which delinquency or default remains uncured for the period <br />of 60 days. <br /> <br />19.0.3 Any lapse, cancellation or material modification of any insurance policy or fidelity bond <br />maintained by the Association. <br /> <br />19.0.4 Any proposed action which requires the consent of a specified percentage of eligible mortgage <br />holders as set forth in Section 19.1 of this Declaration. <br /> <br />19.1 Actions Requiring Approval of Eligible Mortgage Holders. To the extent permitted by applicable <br />law, eligible mortgage holders shall have the following rights: <br /> <br />19.1.1 Any restoration or repair of the condominium, after a partial condemnation or damage due to an <br />insurable hazard shall be performed substantially in accordance with the Declaration and the original plans and <br />specifications, unless other action is approved by eligible mortgage holders holding first mortgages on units the <br />owners which have at least 51 % of the votes in the Association allocated to owners of all units subject to first <br />mortgages held by eligible mortgage holders. <br /> <br />19.1.2 Any election to terminate the legal status of the condominium after substantial destruction or a <br />substantial taking in condemnation of the condominium shall not be effective unless approved by eligible <br />mortgage holders including first mortgages on units and owners of which have at least 51 % of the votes in the <br />Association allocated to owners of all units subject to first mortgages held by eligible mortgage holders. <br /> <br />19.1.3 When professional management of the Association has been previously required by an eligible <br />mortgage holder or eligible insurer or guarantor, whether said entity became an eligible mortgage holder or <br />eligible insurer or guarantor at that time or later, any decision to establish self management by the Association <br />shall require the prior consent of owners having at least 67% of the votes in the Association and the approval of <br />eligible mortgage holders holding first mortgages on units the owners of which have at least 51 % of the votes in <br />the Association allocated to owners of all units subject to first mortgages held by eligible mortgage holders. <br /> <br />ARTICLE XX. <br /> <br />ENFORCEMENT <br /> <br />The Association, or any owner, shall have the right to enforce, by the proceedings of law or in equity all <br />restrictions, conditions, covenants, reservations, liens and charges now or hereafter imposed by the provisions <br />ofthis Declaration. Failure by the Association or by any owner to enforce any covenant or restriction contained <br />in the condominium Declaration shall in no event be deemed a waiver of the right to do so thereafter. <br /> <br />ARTICLE XXI. <br /> <br />GENERAL PROVISIONS <br /> <br />21.0 Gender. The singular, wherever used in this Declaration, shall be construed to mean the plural <br />when applicable, and the necessary grammatical changes required to make the provisions of this Declaration <br />apply either to corporations or individuals, male or female, shall in all cases be assumed as though in each case <br />fully expressed. <br /> <br />- 18 - <br />