Laserfiche WebLink
<br />~~.... i~CI'758 <br />ntiniuri suite rcnr~senti_c by such separate.: accour.L. TYzere-- <br />alter, each such ar_count sha21 be supplemented bV th; ap- <br />portioned amount of tho Fioceedsobtained 'from the of <br />the entire property and any available ttands os the Association. <br />S;lch apportionment shall 'oa basedu~pan teach condomiilit:m <br />suite owner' interAst in the'gereral mammon ~1~'ments. "'he <br />total funds of each account sha11 be used a::d di::burs+-~c, <br />withcnt co:ltrit~utionfromane ac~countto-another, by the <br />Association, as attorney-in-fact', asset forth in Section 3 <br />of Artic'e Y. <br />Section a. Condemnation. <br />~n the event of a taking by condemr.ation'or er.~incnt <br />dontain'of all: or part of the common area, .the a:.ard made <br />sha~.l be paid'to the Hoard of At3ininist~~tors. If owners oY.' <br />tl~e suites in the Condominium ~xoperty Reyi:re :o nat, :oithi.r <br />si:cty ;S~J days frori t?~e datt of the ~wa:rd, a.^.a;~imously <br />approve the use of ti.e p.roceet3s from the away-: for ;:se in <br />repairi:~g, exYaaat .G ~,r :-estoring fire cc~mtnon area, L-%~e F~oard <br />of Aci:-ninistrators stag:.: _*.~,rthwith disburses tl:e rct pr.c~ceecs <br />of the a•aard For the same ~~urpase and in the same order: a_ <br />is i.ra•.ided in Section 8 0 Article ;t. <br />Section ;- .'over of Sale. <br />Tn to event of sale of the entire R~game pursuant to <br />Secti:>n 5 of ~,rticie X, t>r upon ,,cc>~aticn ~t ,uctz ., plan upoa~ <br />terminat-:or, of the i`:~nc3ornniwiz i'ropertj• 1>,,e,.;me :;u.rsu~»tit to <br />Section I of Article :•:i,' oz trthotwise, ac ?•~ ccl~,tiot~s sh~li <br />have all the powers set. forth: ir. Article X i.~ c?ecrlrngwi-c.h ~~ <br />purchaser or purchasers as attorney-an-fact. <br />Section c. ~, licat i ~r. c~i r roceE~ds. <br />Proceeds recci~-Nd asazr_ :.crti~ 5.n the- preceuing BEd*ions <br />an;: as applicable to Each .u~te shai.l be used azid disbursed <br />by the ?sscciat:an as ret:tor:tey-in-Fac:*. , in-:'the f~;l].owi.^.u <br />order: <br />(a; For ~aayment of tuxes xn~, 5~cciai assessments, <br />hens in favor o ar.y assessing e~'~tity anr3 <br />the c.usta:nary exper.3ec~* saT~e; <br />ib}rc~r payme:;t of the k~alance -of t;~<~ lien <br />of a.ny first riortr~wge; <br />;ci ~'or pgyr:pnt of nnpaid~asses~~rents sand <br />all casts, expenses arse' fees iricur.rec by t?.r: <br />t,ssaci:~tien; <br />id) Fc.vr payment c* j unirr ] ie.-~s an<] er,~.urnbr ar~;~r <br />ir= the order of and to tY~~e ex.ter:t of '_he~-r <br />n~~iority; and <br />(e) ':'he baIarce re~ma).nin~, if ar~y, sl:u]-i.;r, <br />Dc..d t. CJ the COFI!j G,^.i17:1:Ii;t ~-,'U.1 tit (JWT7t'~ . <br />Sec*_ien 9. << ',bat~mer,t o~ sessr.:ent.s. <br />Assess:~n*.s for .ommc;n expc•rses :;iiali ct ?,F~ ;~bate~ <br />duri.:c t::e period of ins::rance a,justta~nt %I r.r~ . ~.p;~- arri <br />reoonstr~aetion, remoaelira or re~onstructiasi, axi;~r.-r{;: <br />sale =sf <~r.F suitE For c3~ii: see r. t- :;n~•a;.~:. -assn r~~~%,~vs. <br />-,1 :;- <br />