81002087 - Laserfiche WebLink

Browse

X• DESTRUCTION OR 0--~`-~ T ARTICLE ASSOCIATION AS ATTORNEY-IN-FACT Association Attorne -In-Fact~ Section 1. hereby made mandatory and irrevoc- as a part of the Master Deed. ~~egy-Laws, in-fact to deal with the Pr on the damage of the proeprty, its destruction, able the appointment of the Association as attorney- all accoXdinq to rovement and maintenace, arage is petty and any insurance proceeds uP obsolescent, repair, construction, imp condominium suite or 9 Title to any and the provisions of this Article X• to the terms and conditions hereof, ressly made subject ance from the declared and exp int the Association acceptance by anY grantee of a dr~ntor shall constitute andcapPo ur se of Developer or from any owner of 9 lace and stead for the P Po his true and lawful attorney in his name, P with the property upon its damage or destruction o= °bSOitscpCe~identsand dealing in-Lac t, the Association, Y ents, hereinafter provided. As attorney- authorized office=execut and or its other duly wet to make, Secretary or Assistant Secretary ect to the interest lete authorization, right aw~tn°resp shall 'nave full and coa ed or any other instrument contzact, and app=oPriate to exercise t e as deliver any i rovements, of a suite or garage owner which are necessary the improvements powers g d reconstruction of the mP ranted in this Article. Repair an Article means resto=~no to the damage, Sections of this tbey existed p used in the succeeding condition in which to substantially the same with each suite or garage and the general and limited common elements having substantially the same vertical and horizontal boundaries as before. Dames a or Destruction - Re ai= and Reconstruction Flandator Section 2. arage building or any damage or destruction of the 9 which damag= °L disaster, In the event of (i) iii) any damage or destruction due to fire or other rot including the Board of Administra°-lacemenbec°sts than sixty- destruction is determined by X38 of the total rep ime, such damage six and two-thirds percent (66 2, ) laird, of the building containing the condominum suites in this Reg hall be promptly LePaired and reconstructedrbY tto dea~wath n as or destruction ~ =hall ?;av°- full autho- t-Y attorney-in-fact, and the Association insurance proceeds in succ, rePai= and reconstruction. ro repair and reconstruct roceeds are insufficient Provide an In the event that insurance P a speical assessment ~°th insurance air and reconstruction along the improvements, the Association shall le~'y to Section amount sufficient to conduct said rep levied and collectthearighdsn9oted in Section proceeds. Such assessment shales*ben shall alsc have 5 of Article V, goes the AS=~- 11 of Article X. tional._ Destruction - Rep_,"_y it--and Reconst__uction 0~--- Damaae or~•______- - which Section 3~---=--- to fire or other disaster, ' In the event of damage or destruction due Administrators to be sixty- the Board °f otal replacement cost of all damage °= destruction is determined by more of the t land the Board ercent (66 2/3a)o= ime, not including six and two-thirds p arages in this Re4 the condominium suites °+hirt7Y (30) days of the occurrence of saidedent ng to the within for r_he purmse of P ursuant shall forthwith, ecial member's meeting destruction, call a sp air and reconstruction °Tesent,estimates arage awners the altecnaasvs~ch meeting, th-`-' Board shall'P the suite or g roceeds available, to Sections 4 or 5 of Article X• the amount of insurance P to cover and amount if any, of special assessments necezoaerty as of repair and reconsfro=coon costs, rice of the P P projected necessity roceeds, the projected sale p =oc~eds, should any deficiency in insurance p including insurance p air and reconstruction. In arriving a ime, and projected distribution of all funds, such experts as the owners, the Board may employ the owners choose sale rather than re financial information such figures to be presented ts1 shall be required to adopt either a plan deemed advisable. Aftert~eeQwners1o^ of all relevan not obtained, If such percentage affirmative vote is uoon all available to the Boa=d' t a plan of sale binding of repair and reconstrucoco~y in value may ~UPbe approved in writing by more than the owners balding a ~~ fed must subsequenL-ly the date owners. AnY Plan so adop ~ ees of record as of fifty pe=Cent (5U 8) in number' of the first mortg~g of a3aPtion of the plan. 1. ~..