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I ~ Section 12. APPlication of Proceeds. 83- 002537 Proceeds received as set forth in the preceding Sections and as applicable toeacfl suite or garage shall be used and disbursed by the. ASllOCiation as in-fact, in the following order: (a) For payment of taxes and special assessments liens in favor of any assessing entity and the customary expense of sale, (b) For payment of the balance of the lien of any first mortgage, Cc) For payment of unpaid assessments and all costs, expenses and fees incurred by the Association, Cd) For payment of junior liens and encumbrances in the order of and to the extent of their priority, and Ce) The balance remaining, if any. shall be paid to the condominum suite or garage owner. Section 13. No Abatement of Assessments. Assessments for common expneses shall not be abated during the period of insurance adjus~nt and repair and reconstruction, remodeling or reconstruction. nor prior to sale of any suite or garage for delinquent unpaid assessments. Section 14. Approvals. As used in this Article. the percentage voting requirements of suite and garage owners shall be based upon the percentage values set forth in Paragraph VI of the Master Deed. TOOtH' pf'rcentages shall refer to tObll percentaqes and not merely to percentages of owners in attendance. in person or by proxy, at meetings where votes are conducted. AR'l"rC~~t~RMlNA!.LCl,N_2.~_A!!E_~~ . s.c don 1. TelJll J.r:!a.E2!! . Except as otherwise provided, owners holding eighty percent (80') or more of the basic value of the Condominium Property Regime. using the percentages set forth in Paragraph 6 of the Master Deed, shall have the right to terminate this Condominium Property Regime. subject to the conditions of Section 76-812 of the Condominium Act. Section 2. ~ndllent.EY.~t!. 'l'h4tre sbaU be no _ndllent to these By-Laws unless owners ho1dinq .eventy- five percent (75.) or more of the basic value of the C~iniu. Property Reqi... uainq pereentaqes set forth in Paragraph VI of the Muter Deed, sball have voted therefor in the affirMatives at a special or annual meeting, provided, however. that percentllge votinq requirelllents contained in these By-Laws sball not be amended by a les..r percentage \lOte than that sought to be 8Illended, and provided further that sueh allendlllent shall have the approval of more than fifty percent (50'), in number, of the first mortgagees of record upon the date of adoption of said a_n4IIlent. SectiCll) 3, ~~t by Devdoper. Anything contained in theBe By-Lavs or in the Master Deed or Articl.e ot I_potation to the contrary I1;)twithstandinq. until May 1st, 1964, or unHl the ne"~r rel....a control of the Association, IIhichever firal: _ure. Developer r...~v" the right to supplement or _nd these By-Lavs for clllrification, correct.~, CK oUlarwi.. in the _at intueate of all suite and qutlge owner., including --1opu, PrQYJ.4e4 thet .ny a\ICh suppl_nt or _ndlIent sbell be apprOft4 by -. ~ fUty percent (50'), in nullber of all elCieUng Uul: *'r'9..,e holden _ r-.;4. in Vf J.tJ.Il9. -17-