My WebLink
|
Help
|
About
|
Sign Out
Browse
84005507
LFImages
>
Deeds
>
Deeds By Year
>
1984
>
84005507
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/4/2012 1:59:28 PM
Creation date
11/20/2008 10:04:45 PM
Metadata
Fields
Template:
DEEDS
Inst Number
84005507
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
84
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
84-- 005507 <br />which each Owner is entitled. Such shares shall be paid intc separate <br />accounts and disbursed as soon as practicable. <br />(C) Partial Taking. In the event that less than the entire Condominium <br />Project is taken or condemned, sold, or otherwise disposed of in lieu of or in <br />avoidance thereof, the Condominium hereunder shall not terminate. Each <br />(Owner sisal.) be n entitled to a share of the C. mie— nation 'aware Yn ne inYPr- <br />mined in the following manner: As soon as practicable the Association shall <br />reasonably and in good faith allocate the Condemnation Award between com- <br />pensation, damages, or other proceeds and shall apportion the amounts so <br />allocated among the Owners as follows: (i) the total amount allocated to <br />taking of or injury to the Common Elements shall be apportioned among the - <br />Owners, as their interests appear, on the basis of each Condominium Unit's - <br />Allocated Interest of the Common Expense assessments; (ii) the total amount <br />allocated to severance damages shall be equitably apportioned to those Condo- <br />minium Units which were not taken or condemned; (iii) the respective amount <br />allocated to the taking of or injury to a particular Unit and to the improve- <br />ments an Owner has made within his own Unit shall be apportioned to the <br />particular Unit involved; and (iv) the total amount allocated to consequential <br />damages and any other takings or injuries shall be apportioned as the Associ <br />ation determines to be equitable under the circumstances. If the allocation of <br />the Condemnation Award is already established in negotiations, judicial <br />decree, or otherwise, then in allocating the Condemnation Award the .Associ- <br />ation shall employ such allocation to the ;ent it is relevant and applicable.. <br />Distribution of apportioned proceeds I oe disbu —sed as soon as practie- <br />able. In the event a partial taking _..:cults in the taking of a complete Unit <br />or a part of a Unit leaving the Owner with a remnant which may not practic- <br />ally or lawfully be used for any purpose permitted by this Declaration, the <br />Owner thereof automatically shall cease to be a Member of the Association, <br />shall cease to hold any right, title, or interest in the remaining Common <br />Elements, and shall execute any and all documents necessary to accomplish <br />the same. Thereafter, the Association shall reallocate the ownership, voting <br />rights, and assessment ratio in accordance with this Declaration according to <br />the same principles employed in this Declaration at its inception and shall <br />submit such reallocation to the Owners of remaining Units for amendment of <br />this Declaration. Any remnant of a Unit remaining after such a partial taking <br />is thereafter a Common Element. In the event a partial taking of a Unit does <br />not deprive the Owner of the practical and lawful use thereof, the Owner <br />�ha.ti s... - - _ - _ fdr as... _..due'' v lue of s.Ls VIM 1— :a.. .�.i.. - <br />-- _ �_ ".,�Y�a -s = =cd ii: z :sum - -. _ -- vsui -- -- ssa MEW— <br />the Common Elements. The Unit's Allocated Interest shall] be reduced in <br />proportion to the reduction in size of the Unit and the portion of the Allo- <br />cated Interest so divested shall be reallocated to that Unit and the other <br />remaining Units on the same basis as the original Allocated Interests were <br />computed. <br />If a part of the Common Elements is acquired by eminent domain, the <br />portion of the award attributable to the Common Elements taken must be Daid <br />to the Association. Any portion of the award attributable to the acquisition <br />of a Limited Common Element shall be equally divided among the Owners of <br />the Units to which that Limited Common Element was allocated at the time of <br />acquisition. <br />-zs- <br />a <br />11I <br />0 <br />
The URL can be used to link to this page
Your browser does not support the video tag.