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<br /> . - ta a baok eatitled•ltortgages oi IInita•. ::,,. = '
<br /> �� Sectioa Y. 8otiae o!Dotaalt. ' . 'F�.
<br /> ' The Boa:d o!Adninfetzatore, vhea qiviag notico to a unit wnor o!a doinult ia paying aaoeeamnnte os atEer default, ahnll . � ••
<br />_ ' � eaad s cogy o!anc6 nakice to eacti holder o!n aortqaqe cavaring encb anit vAoee aame aad addceea Ma iAaratotore been tnsuiahod . ,tt ;'• ;
<br /> F • to Lhe Sonsd oY A�iaiatrntoze. .c._, ,.ia:
<br /> �, r ..
<br /> � ' Seatioa 9. �eminstion aY 800ka. ' ' `•`'
<br /> � , � . BacD w►ft aomer aad eaeD mcrtqagee oi a nait ehall bo parmltted Lo e�ramiae tLo boaTce oi acconat oi Lhe Aeseoci,ntioa st a ' ' •-
<br /> reaaa�le eime, ou IIaalaees dayra, bas aot aore thnn oaee overy threa (�) moatLa vitLont inst caune. •
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<br /> . � AATICLS Y. DSSTRQCMOH� DAWtGB OR OSSOL8f.C8tiT ASSOCSATS09 J49 ATPOABSY-I9-YACT
<br /> .�.. � � 8'----- SC6C�.011 1. fl800C1.6Ya0A DILtGLlIBV��ll�YBCt. . . � _ _ .
<br /> .ry. . :u .-:.
<br /> � ` These Sy-Leva, aa a port o! tha Amanded Daalasetion• hezebp mado mandatn=y ead irravaeable tho aypoiatmeut o! iho -
<br /> � Aasoc3ation ne sttoraay-ia-faae to deal oritL the propertg and deatzaetioa, obeolesceace, repair. consfsnceioa. tapswemoat aa6 f;�_'
<br /> �� maiatenaaee, ali axozdfag to!ha pzovieions oL t0io Article I. Title io anp eo��+�ium anit is deolared aad aspreaoly made . -
<br /> L aab�aat to ehs tesms aad coaditions hexeof, and aceegt0aee bp aay graateo ot a deod or athes iaatsuaoat oP coaaeysaee lzam the
<br /> �:,�:4 Develoyer oz fr�aay o�mez as gzaator shall wnstitate and appoiat tLe Aosaciniiaa hia tsae aad lavfnl attosaay ia hia asae. -
<br /> place ead eiead Ear iLepnrp aao of dealtag vith tho proparty npoa ita damage or desttnetion or obeoleaceaco ae is hereiaaftes , •< • ,-
<br /> �l.r' � , yrovfded. Ee attosaeg-ia-fact, tIIe 8aeoalatiot+. by ite Pseaideat and Secrctnsp or Assistant Seeretnry oz ita ather Goly ,-
<br /> ` anthvzised officers or Lhe aqeata. ehali Lave fnll and eampleta anthozisatfoa, sight aad porar to make, e�ascnte md deliver aay • —
<br /> � coatraet� der.l, or sap othez iaats�aat with soepaat Lo the lutezeet q! a oait araes mhicL ie neeaeeary and appropsinta to __
<br /> c=±, scercieu Lbapo�a is�anted in this Asttcle. Repair and�aoaatraetiaa o!the improvemerrta,as ased ia tks ancceeding 6eetieae -
<br /> 04 thie ar►+^�e meam restoriag the imgrwcmeate to aab8tantially tha o�e condiLiaa ia vhieII they mciated gzior to the d�age. . ---
<br /> . '�:,�' roitL eaah nait aad the qeneral aad limited eammnn elemeata Eaoiag snDatanLially the eame vestical sad horisnatal banadasies aa
<br /> , - . . bofozo. _--
<br /> ��� _ ' Beciion 1. na�ae aaA aeatraatioa-aemir ead Reeonetsnetiaa Naadestosv. �-
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<br /> s . ' In LLe evaat o£aay damaqe or destsaetiaa due to tire or othez disaates. whiah d�age or deatsaeiion is date�inad bp ths '
<br />-�-,'.-. • 8oasd oi Adml.nietsatore to lena tLaa �itty-ei�aad taro-ihisda pereent (66 113t) oi tLe totsl seplacemeat cost� aot iacic�ng
<br /> lend, o!the w..tia�,.y eont•�••+�q the eocd�iaiam aaite ia ths Ragisa� ancb d�age ar deetraetiaa eball be ps�ptly repatsed aad
<br /> - . . recoaatraated � Ute Assaeiatian a� attoraey-in-£aat, and the Heeaaiation ahatt 6ave fnll aotDosity to deal vith iaanssaee .�T-
<br /> .�,� praceeds ia eue repair aad recoaatznetion. -
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<br /> • --;-.� ia the eveirt tLat inenreaee Pzoeeede are iaeolYicient to repair aad secrnsaeract!he impzov�te.the neeaciatioa sIIall lavy -
<br /> a speaiel aeeeaement to pzooide an�wat snfficieat to eonduat said zepair attd zeeoaatsaation aloag or1tL inauranca proeeeda.
<br /> �,. � _ � SnaL aseneameats shall be levied aae eolleeted aacozdiaq to Saciloa S o!Astiale o.
<br /> ��` . ,: Z Bection 3. D8ID8Q9 0I DBLtSII6L�0A�RBpBft dllA R@COABtl71CGSOA ORE�OA�. --
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<br />- '-- '`a Ia tho eveat of damaqa or deutruation dno to fira os othaz dieaatas�vhiab damags or destraatian in dotormiaed by ttte 8oasd
<br /> �.' �. oP A�^+^+�uaiora to ba sistq-ais md tvo—thirde percmt (66 2/3i) or more of tho tatal reylacmeat coat ei the bni2Ging - _-
<br /> ' - coateiaing the cond�ini�aaits ia tde Regime, not inalndiag land, L6e 8oasd ehall forthrlth, vithia thirty �30) daye of the _
<br /> ' ' • accur�eaee oi eaid demage or doat:netion, ca21 n egeoiei memt�ere mealinq for thepnsg oaa o!gzesenting to tha anit aomere tha :,♦-
<br /> _ ` " siternativa at s�egais and recoastsnaCioa or sale, porcnaaL to Beetf.eaa 4 ar 5 oR 1►rtialo Y. At eualf ineetiag, the Soesd ehel.l ��-.�-_
<br /> �� preseat enti�tea o! rupair aad reeeaetrnctioa eostu, the amoant of inanrance proceats avaiisble� the groyected aneosaitp lor,
<br /> '�., �:�� • , aad amaaat i!aay or epeaial asaeesmeats measaasy to eover any deiioieaey!a iasnranae prxeeCe, the proieated eales pr3ca o! ---
<br /> t�.;s. .. the 8roperCy ae ie aad projeaied distsibntton a! ell fande. i.aoludiag iaanrance procaede. nhould tEe avaera ehooae oalo rathez �- -
<br /> �• , � sLan repair ead zecaaatroetion. in arriviag at sach Yiqosea to bc+pseaeatod to the aaraern, tIIe Boasd may etgloy eucA mcpezte �.;;:.,,-.
<br /> �' as Qaemad advieable. AYter preaeatatioa ot ell relevant tirtaaaiel iaiosmatioa avsilnble to the Beard, the a�mesa oY tJte na3ts =___
<br /> ia the Ragima aLall be requirad Lo¢dapt a�•^+*�+slp eitLos n glan o! repais and reeonat=aclion or e glaa o1 enlo. I1 aueh �.'F,,,_,"�_
<br /> � � • ananimons atfismative vote oi eaid aaners ie AOL OZJCB�ABd� ihe Board o!Admialatsatore of the Aseaeiatian may adogt a plan o! ---_
<br /> . . eala bindiag npoa all ovaorn. Aap pinn oo ndopted mast aabaeqneatly bo npproved ta aritiag bp the lirst mortgaqaoa of recarrd :��;.,�,, �---"
<br /> ' : m o!tho date o!adopiion o!!he glaa. . �_. , - _�
<br /> � � Seatioa a. Diea of Renair aa6_Reeoaetruetion-- Damaete.oi Deatruetioa. �-��,�•t:': -
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<br /> �,'"; ia the eveat LLat a plaa oE zepeir aad reeonat=natioa Ss adopted Dy tha oomara aad aubaecineaLly appswad by Lhe lisst :•^�-�y�:., '-
<br /> • mortgaqeee� as abwe set LortA, ihe Hoard oi Admiaietrators ahsll iertAvi�h prxeed to sepair aad zeeonstsnat the impravameata . ;�:i=-
<br /> • : ea aeL �ortL ia SecLioa 2 oP Artiale 8. -..-. . , ----:�='..
<br />- �� r. �� • Beation 5. Dlaa o! Bele-- Damaao er poatniatfon. � �(�}';_,.-.-�`�.i�-,'��.
<br /> ,� ' , �� � 2a the evaat that s plaa ef aale in adopteA by tAa oruaru sad snbcegaea4lq appsaved by the liret mortqagee0, ae abave aot
<br /> `" fortb� os ia thm eaeat that a plea ot repair ead roconat:uctioa SB aEOptad Dy tha oaanera bat is not aypsoved by the rec,�3rad �""' `�_
<br /> �'. � • �� aumbes o!firat mortqaqeea oP record vitLia siatq (60)dnys frm tho adoptios►o!the plan, tban tha Haazd o£Bdoiaiotratoro ehtall .,i:.�::-
<br />��,_ � ;.� losLLxiLD record a aaCica oetting lortb aaob lact or laata�sad upon Lhe secosdiag o!enoA aotiee vith tAe ofHce oi Ehe Reqiates
<br /> e°: o! IIeede ot Sall Ceaaty. RaDraeka, hy.tIIa Asaociatioa•0 nrosident asid Searetasy or Asaiateat Saczetasy, the entire remainiaq -- ;_,r.,=___
<br /> ''' r preminee eLall Le otlared ioz eale cad eold by tho Aeeooiatioa pusauanL to the psavieione o!this Artiole, as atLOrnoy-in-taat • ------
<br /> � � '� ' ,� tor all o!tIIe aomere, lree and alear of the provieiona cantained in tho Amended Decloration, tda 1lstialea ot Ineosgosatiop and �_ s- •6
<br /> �,`'`q'� ' �. thene Sy-z.asra. TIIe Sneusancro oottloment pzncaedo eLnll be colleaeed by Lho Aseooistloa� aaE suah yraaeeda ehall ba divfded by ---_-':� �
<br /> ~s tAe Aeaaaiatlon aacording to ench oaner•e iaterest in the geaezal co�mon olemente, aad anoh divided yraceede ehall bo pafd into � -2:�j'�
<br /> ��`:� ' eepesale seeoyaee, eaaA nucb accouat repreaenting oae o! the conQomiaium unite. Eae� enah aec�nt shall bo ia the name ot tAo • ` •
<br /> }•.;. • � Aeaaaietioa, attd nhall be lurtAer ldentSYied Dy the eoaQamialam nnit Qeeiqastioa nnd tAe name cS the oomar. Ysom eaoA aepsrsto _-
<br /> �7 � • , ecconat, tAe Aesoeiation� as attorney-in-laat, olwll lorthmitA uae aaA diaDorae tAe teLei emenat o! eaeh o1 snch accaunte,
<br /> vithoat coatributioa lsom one accoant to enother, tovezd tho pnrtial os full payment o! the lien o! any tiset mcrtgaqe agaiast •
<br /> the eondomini� unit repseaeated by ench eegarate aecount. Tdereaiter, eaeh eac� aecaoat shall be soyplecieAteC by the • '
<br /> �, eppostloaed amouot o! tho psoeoede obtained Lraa tAe ealo oY the ontizo proportq errd any available funda o!the Asoociaiioa. • •
<br /> . Suah npportienmem nhall ba baaed upon eaob cendamiaium uait amer•n iatereat in tAe qeneral enamua elemente. The total innde . � •
<br /> , • oY oaah aacaont ehall be uoed and dieburaed, ooitbout contzibution lrom ono aacouat ta aaother, hy tho Aaeoolatioa, ae sttornoy .
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<br /> in�faae� as set to=th in Section fl o!Artiole g. " • ; '
<br /> • . ' Beation 6. Condamnation. . •-
<br /> � , • In tho aoont ot takinq by condemnation or ominont daaain o! all oz part o! tAe emmen ezoa, tha avazd aaQo ahall be paid � •• �
<br /> , to the 8oard o! 71r�inietzatora. I! oomere o! the uaite Sn the Cond�ini�ro Pzoporty Regime do not, vitDia eisty (60)daye lram , '
<br /> ' tho date oY tho aovard, unantmwoly approve tha uao o! tho yroceode Pzom tha axnrd tor nse in rayairinq, m[panding or reatoring
<br /> � �: , the ea�on area, ehe Eoard o!Adminlntretozn ohall lorthaith diebozse the net yzoceede o! the avazd!or tAo eame puryoae aad in �
<br /> . the eame'osdaz ae in grovided in 4oction 8 0! Article S. " ,
<br /> , • • Soatio 7. Yaoaor ot Sa3o. � ' .
<br /> , 1n the enent ot ealo o! tho entire Regiae purauant to sectiea 9 ot Artiole R, or apon adoption•ot euch a ylan upon �
<br /> � LermineLlon o!LAo Condomtnium Dropesty Rogime purauant to Seckion I of 7lsticlo 8I� or othe=vioe� tho Aosooietion shall have all ' �
<br /> . - tho poaere eot lorth ia Azticlo X in dealinq vith a purchaeer or purehaeore ae attorney-in-faat.
<br /> • Sootion 8. Aoalieation o! Mocoeds. '
<br /> ' Dzooeade zeaeivad ne eot lorth in the preeed�ng eoetione end ae applieablo te a¢ah unit nhnli be nead nnd diebureod by tho � . ' .
<br /> � . ' ' Aeaoeintion aa attoraoy-in-iact, in the lollowing ordos� �
<br />'R: . ` .
<br /> -- .. , (a) Por paytant at taxou aad apoeial aaeonnconte, lionn in lavoz o!any anaesninq ontisy end tho cuatamary exyenae of nalo� '. ,
<br /> - � (b) Yor yayment o! tho balenco o! tho lien o! any firat erortgaqe� "
<br /> • � (o) Yor payment o! unpaid aneenemente end all coate, e�penaee and teee incurred by t�e Aeeoaietion; �.
<br /> �d) Yor paymont o! junlor lionn and oncumbrances in tho ordor o! and to ehe uatent o! their property� end •
<br /> �o) Tho balaaeo ra-iaining� it any, ehall be paid to tAO condominiva unit omnor.
<br /> Section 9. Ho Abatonont of Aaaonemeata. . '
<br /> �:.:; ' Ansonamontn fos ea�aon expeneea nhell not be abatad during Che poriod o!innurance adjuetment nnd reynir end zeconatructioa, ,
<br /> resmaodoling or zaeonatsuction, nor prlor to oale of any ualt !or dolinquent unpeid enoaeementn. . ,
<br /> �.'� � � ARTICLS%I. TERIII!lAT20N OA 31MEtIDHE!Pl �. � .
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<br /> ' . 1 Soction 3. Termination. ' ' '
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