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'r � . .� <br /> i Stall assigned by the Association shall be deemed to be licensed and assigned by the . <br /> iAssociation to the Unit to which it is assigned. After all Units owned by Declarant have i <br /> , been conveyed, any unassigned Stalls shall be deemed to be assigned to the Association, <br /> and may be reserved for guests of Owners and Occupants, for handicapped parking, s�r <br /> � for renta!or assignment by the Association to Owners or Occupants, as determined by the <br /> ' � Board. T?le Association may, after Declaranrno longer owns any L►nit, rent or otherurise <br /> , � assign any unassigned Stalls to Owners or Occupants. . <br /> ' 7.3.2 The use rights with respect to each Statl shall be deemed to be licensed <br /> � exclusiuely to the Owner of the Unit to �hich the Stall is assigned. The Association shall <br /> maintain records identifying the Stalls, the Units to which they are assigned, the names af <br /> the Owners of the Units, and the dates of assignment and any reassignments. A written <br /> certificate of garage stall assignment(the"Garage Certificate") sha11 be signed and dated � <br /> , � on behalf of the Association and made available for delivery on the date the Owner <br /> ' acquires title to the Unit to which ihe Stall is assigned. The Association shall noi <br /> i unilateral3y reassign any Stall assigned to a. Unit, except for handicapped Stal1 <br /> assignments which may be unilaterally transferred by the Association to accommodate <br /> legally handicapped persons. <br /> . <br /> 7.8.3 A Sta11 shall remain with the Unit to which is it assigned until the license <br /> is transferred in accordance with this Section 7_8.3. Subject to Section 7.8.2, a Stall <br /> license may be transferred to another Unit, but only by first delivering to the Association <br /> (i) a written transfer certificate, in a form approved by the Association, signed by the <br /> transferor and the transferee, and {ii) all prior Garage Certificates and copies thereof <br /> issued with respect to the Statl. The Association shall review the proposed transfer <br /> • certificate for compliance with this Section 7 and, if the transfer complies, the <br /> Association shall transfer the liaense on its records to the Unit owned by the transfered <br /> and issue a new Garage Certificate to the transferee. The ticense to use the Stall shall <br /> remain with the Owner and the Unit to which it is assigned until the license is transferee <br /> in accordance with this Section �.8. !n the absence of a properly executed assignment to <br /> the contrary, the ]icense to use a Stall assigned to a Unit at the time of the Unit's � <br /> eonveyance shal� be automatically assigned wifh the conveyance of title to the Unit. <br /> 7.8_4 An Owner may rent or allow the use of the Stall assigned to his or her Unit ' <br /> only to or by other Owners and Occupants. The lease or other use right shall be in <br /> written form, and shall terminate when the lessor, lessee, or other user is no longer an . <br /> Owner or Occupant, regard(ess of the terms of any agreement to the contrary. The <br /> Owner shall give the Association advance written notice of any lease or use agreement <br /> with respect to the Stall assigned to that Owner's Unit,and shall promptly provide a copy <br /> of the lease or use a�reement to the Association_ The Association may hold,reassign the <br /> license for, or rent, a Stall assigned to it in the same manner as an Owner, except for the <br /> Stalls reserved for use by Owners. <br /> 7_8.5 The interest of a secured party holding a first lien or other security interest <br /> on a Unit shall include the ticense to any Stall which is assigned to the Unit, and said <br /> rights shall be included within the secured party's interest acquired in the event of a <br /> foreclosure of the lien or other security interest. <br /> MPLS-Word 95281.1 l f 4 • <br /> — -- �- — - - - -- - • � <br />