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<br />
<br />
<br />
<br />
<br /> r_o:,l 3. .xaarr:nati.orr of hooks.
<br />
<br /> •.:::ch 4u i tc or aarace owner and each mor tgage(~ r l ra :,v i t. - or
<br /> r.ermi tf:e J to exa,tine the gooks of account o :he
<br /> at reas:onabi) _ time, on business days, hL L not more than oncf:,
<br /> _•.rn.°u~ %h~ T_,3ntyi.w ".ti 1t; Y'ldG1 lU st cause.
<br /> `
<br /> te: rc'i,:: X. DESTRUCTION, DAMAGE OR "BSOLFSCF T
<br /> 'ASSOCIATION AS ATTORNEY--TN--F'J',.CT.
<br />
<br /> "irar. ,>>ociac.ion Attornev-ln,--Pact.
<br />
<br /> l'1;F'; F. r; -Y [3"w '_i, as a r:' art. r th, IMaster Dee`,d, `hereby made m. nc a'
<br /> uC;,°F C~JCr :'e"V t? %.`~lF;' the apnointment of the Association as attorney-in-
<br /> f act. to C'%-'al with `-},Q pr opera wry. i sari :ir Urc~nCt pr UCE.. 1r 7
<br /> a ✓ y s
<br /> ~ Updn the c. at%I
<br /> ,je
<br /> of t:hE )rc:a,:~r tv , ' is de':.:t: ,;C. 1- ~ ~ , e en r -pair, scan;',trust ion,
<br /> i)rC ','0i7i r,t ^d 'm iinif all i 4' rdznc~ to thc- provisions of this
<br /> Art.i lh X. Title tCr uit(,, or cjaraqe is declared and
<br /> eX:3res sl.y ma:ie subject to the tcrms and conditions hereof, and accontance
<br /> by any ar~intee of a deed or other instrument of conveyance from the
<br /> UeE elope or fro„a any o'wLner, of grantor shall constitute and appoint the
<br /> Assoc ia`.i_on his true, and lawful attorney in his name, place and 5t-ead
<br /> for t.hc of dealing with the property upon its 613mn;cle or des4.ruc-
<br /> tion or or)solesronce as is hcr.einafter provided. As zitlorney-in-`act,
<br /> the Association, by its President and Secretary or Assistant Secret ar'T
<br /> or its othf r: duly authorized officers o; agents, shall have, full and
<br /> comple=te authorization, right and power to make, execute and deliver any
<br /> c -Dratra:sct , dee.l or. any other :instrument with respect to the interest of
<br /> s.°ite or, garage owner which are necessary and appropriate to exercise the
<br /> pcwers granted in this Article. Repair and reconstruction of tlAe irr;prove-
<br /> mentE-, as :-,sed in the succr_eding Sections of this Article means restoring
<br /> the irr:k.roveme_,nts to st!bstaantially the same condition in which they existed
<br /> prirr to the damage, with each suite or garage and the general and limited
<br /> c:r7rrimon e'.l,7=rrrent.-, havinc} st.tr,it:ant 'tally the sair,e vertical and horizontal
<br /> houndar ies as l)(Aor e
<br /> Section ?:Daamage or Destruction - Repair and Reconstruction MandatoLy.
<br /> In the, e gent of (.i) any damage o. destruction of the garage
<br /> building or (ii) any damage or destruction due to f-lre or other disaster,
<br /> which .dai-i)zige or des.t.r.uctlon is determined t-y the Bead of Administrator,
<br /> to be le than sixty--six and tiro-thirds p~,-tc::e'nt. (w;r;: 2/3%) of the total
<br /> replacement cost, not including land, of the buildl.rri3 containing the
<br /> condominium, suites in this Regime, such <3a3mage or destruction
<br /> sha.11 be promptly repaired and rec; onst~ruc,i-.er, by the Association as
<br /> attorney-in-fact, and the Association shill have auth:irity to deal
<br /> with ansuranc,~' C?;C7CC't~CiS in such rer)air and roconsLructaon.
<br /> In the event that insurance proc?ed:~ are insufricient to repair
<br /> and rGconst.ruc:t the in:i)re)vemcfnts, the Association shall levy a special
<br /> asscsssment to prr;vide an amount sufficient to conduct said repair and
<br /> reconstrt.ct ic,n alone;, with insurance proceeds. S:)rh a sessmen,t shall, be
<br /> levied and crollec `-d according t ' o Section a of V, ar:d the
<br /> Association shall also have the rights noted in Sect,,.on 11 of Articl•t X.
<br /> Section - ~I-Iarra~je ()i Dec ;truction_-~ Rf-,,vairwand Recrristruct.ion Optional
<br /> In the event of daiiic,.rie or dF.strlrction due to fire or other
<br /> di'ssf:er, ww7lch damaje or (jestruct.ion is determir:ed by t'tic, Board of
<br /> Arl;a,.inis;:tr..ato.rs to t)e: sixty--six and two-thirds percent (66 2/3?) or more
<br /> of the total rc-placement cost of all the eondominitaa-ti suite or garages in
<br /> this Regime-, not including land, the hoard sh-.~)li f,~rthw`th, within thirty
<br /> (IC} days of the occurrence of said damage ear destr:,icti~n, call. a spcciril
<br /> .,!r:-,mber's mer•tincj for the purpose of preserating co the suite- or garage
<br /> owners t'h alternative of repair and recon t...uction or sale, pursuant to
<br /> Sections 4 or 5 of Article X. At such meeting, the Board shall prezont
<br /> estimates of repair and reconstruction costs, the amount of insurance
<br /> proceeds ,jvai.iaahl.e, the projected necessity forT and amount if any, rof
<br /> Meci al a F s_ ments necessary to cover any deficiency in insurance
<br /> pz-ocer,d , the p r.ojx-cted :,ale Price of t* e property as ic, and projected
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