82001413 - Laserfiche WebLink

Browse

~2~° ~~~,:z43~ functions, or services, or suspend, partly or wholly of all or any rights or privileges o£ (' membership or any other disciplinary action directed by the Board of Administrators. ARTICLE IX. MORTGAGES. Section 1. Notice to Board of Administrators. A tawnhome owner who mortgages his townhonae shall notify the Board of Administrators of the name and address of his mortgagee and shall file a conformed copy of the note and mortgage with the Board of Administrators. The Board shall maintain such information in a hook entitled "Mortgages of Townhomes`°. Section 2. Notice of Default. The Beard of Administrators, when giving notice to a townhome owner cf a default in paying assessments or other default, shall ;wend a copy of such notice to each holder of a mortgage covering suc"ra townhome whose name and address has theretofore been furnished to t'tae Board of Administrators. Section 3. Examination of Books. Each to*wn:zome owner and each mortgagee of a townheme shall be permitted to examine the books of account of the Association at reasonable time, an business days, but not more than once every three {3? manttas without just cause. ARTICLE X. DESTRL'CTT_QAi, DAMAGE OR OBSOLESCENT ASSOCZATI(7N AS ATTORNEY-IN-FACT, Section 1. Association Attorney-in-Fact. These By-Laws, as a part of the Master Deed, hereby make mandatary and irrevocable the appointment of the As- sociation as attorney-in-fact to deal with the property and an}' insurance proceeds upon. the damage of the property, its destruction, obsolescence, repair, construction, improvement and maintenance, all according to the provisions of this Article X, Title to any condominium tawzahome is declared and expressly made subject to the terms and conditions hereof, and acceptance by any grantee. of a deed or other instrument of conveyance frarn the Developer ar from any owner as grantor steal?.. constitute and agpoi.nt the Associ- ation his true and lawful attorney in his name, place and stead for the purpose of dealing with the property upon its damage or destruction or obsolescence as is kzereinafter provided. As attorney-in-fact, the Association, by its President a,-ad Secretary or Assistant Secretary or its other duly authorized officers or agezxts, shzil have full and comps,ete authorization, right and power to make, execute and deliver any contract, deed or any ether instrument with respect to the interest of a tawnhozne owner which is neces- sary anti a~~propriate to exercise t:ze gawers granted in this Artiole.siepair and reeanstrasctian of the improvements, 'as used in the succeeding Sections of this Article means re- storing the improvements to substantially the same condition in which they existed prior to the damage, with each town- Yzonae and the general and limited common. elements having substantially the same vertical and ?aarizantal houndaries as before . --15-