09-26-2005 Council Packet - Laserfiche WebLink

Home Browse Search

i relative rentable floor ar<M of each building. An Owner of a Unit may also submit the Unit as a condominium under the Act. dividing the Unit into units and conunon elements. 16.07 No Time Shares. Time shares, as defined in the Act, are not permitted in this CIC. 16.08 Rules and Regulations . The Board shall have the exclusive authority to adopt from time to time such other rules and regulations governing the administration of the affairs of the Association, the use, maintenance and enjoyment of the Real Estate, and the conduct of persons using the Real Estate, as the Board in its reasonable discretion deems desirable (v necessary to implement the intent of this Declaration. New or amended rules and regulations shall be effective only after reasonable notice thereof has been given to the owners. 17.00 FIRST MORTGAGEES 17.01 Ai^reements with Mortgage Holders . The Board may enter into binding agreements with holders and guarantors of mortgages secured by interests in a Unit, obligating the Association to give specified notice or other rights to such holders and guarantors. 18.00 SPECIAL DECLARANT RIGHTS 18.01 Special Declarant Rights. Declarant hereby reserves the following rights (referred to in MClOA as Special Declarant Rights) for its benefit: i m A. B. C. the right to create Units by this Declaration; the right to construct and complete improvements; the right to maintain sales office, management office, signs advertising tlie CIC, and models, provided that no more than one combined sales and management office will be maintained at any one time; D.the right to use easements through the Common Elements for the purpose of making improvements within the CIC; and E.the right to appoint or remove any officer or director of the Association during the period of declarant control, which shall expire on the earliest of the following events: 1. surrender of the right of control by the Declarant; 2.60 days after the conveyance of 75% of the Units to Owners other than Derlsrant; and f*-*' , . ritiirtriTi