Reso 2016-2552 - Laserfiche WebLink

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16. CONDEMNATION: Intentionally left blank 17. TERMINATION OF CONDOMINIUM: The Condominium shall continue until (i) terminated by casualty loss, condemnation or eminent domain, as more particularly provided elsewhere in this Declaration, or (ii) such time as termination of the condominium form of ownership is authorized by a vote of the holders holding a majority of Voting Interests. Upon such termination, the former Condominium Property shall be subject to an action for partition by any Owner, and the net proceeds of sale shall be divided among all Owners in proportion to their respective interests in the Common Elements; provided, however, that no payment shall be made to an Owner until all mortgages and liens on his Unit, in the order of their priority, have been satisfied out of his share of such net proceeds. Upon such termination, all funds of the Association, including, but not limited to, reserves, but specifically excluding insurance proceeds (which proceeds and awards shall be apportioned to the Unit Owners based upon the provisions of Sections 15), shall be divided among all Owners in proportion to their respective interests in the Common Elements; provided, however, that no payment shall be made to an Owner until all mortgages and liens on his Unit, in the order of their priority, have been satisfied out of his share of such net proceeds. The termination of the Condominium shall be effective upon a certificate of the Association, executed, by its President and Secretary, certifying the basis of the termination being recorded among the Public Records of the County. 18. COMPLIANCE AND DEFAULT: Each Owner shall be governed by and shall comply with the terms of the Declaration of Condominium, Articles of Incorporation of the Condominium Association and the By-Laws and any rules and regulations adopted pursuant to those documents, and all of such documents and regulations as they may be amended from time to time. Failure of an Owner to comply with such shall entitle the Condominium Association or other Owners to the following relief in addition to the remedies provided by law: A. Negligence. An Owner shall be liable for the expense of any maintenance, repair or replacement rendered necessary by his negligence or by that of any invitees, employees, agents or lessees, but only to the extent that such expense is not met by the proceeds of insurance carried by the Condominium Association. B. Costs and Attorney's Fees. In any proceeding arising because of an alleged failure of an Owner or the Condominium Association to comply with the terms of the Declaration, Articles of Incorporation of the Condominium Association, the By-Laws or any rules and regulations adopted pursuant to them, and such documents and regulations as they may be amended from time to time, the prevailing party shall be entitled to recover the costs of the proceeding and such reasonable attorney's fees (including for appeal) as may be awarded by the court. C. No Waiver of Rights. The failure of the Condominium Association or any Unit Owner to enforce any covenant, restriction or other provisions of this Declaration, the Articles of Incorporation of the Condominium Association, the By-laws or any rule or regulation shall not constitute a waiver of the right to do so thereafter. 21