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i -, ' . .� $tall assigned by the Association shall be deemed to be licensed and assigned b the • A�ssociation to the Unit to which it is assigned. After all Units owned by Declarant ave � l�een conveyed, any unassigned Stalls shall be deemed to be assigned to the Associa ion, nd may be reserved for guests of Owners and Occupants, for handicapped parkin , or r rentai or assignment by the Association to Owners or Occupants, as determined h the oard. The Association may,after DecIarant no langer owns any Unit, rent or.athe ise �ssign any unassigned Stalls to Owners or Occupants. - . 7.8.2 The use rights with respect to each Stall shall be deemed to be lice sed �xclusively to the Owner of the Unit to which the Stall is assigned. The Association hall maintain records identifying the Stalls, the Units to which they are assigned,the nam s o#' " the Owners of the Units, and the dates af assignment and any reassignrnents. A w tten �ertificate of garage stall assignment{the"Garage Cenificate")sha]! be signed and ted � qn behalf of the Association and made available for delivery on the date the O ner �cquires title to the Unit to which the Stall is assigned. The Association shall not. nilateral3y reassign any Stall assigned to a Unit, except for handicapped tall �ssignments which may be unilaterally transferred by the Association to accomm date T�egally handicapped persons. , 7.8.3 A Stall shall remain with the Unit to which is it assigned until the lic nse i� transferred in accordance with this Section 7.8.3. Subject to Section 7.8.2, a ta]l Ihcense may be transferred to another Unit, but only by first delivering to the Associ tion �i} a written transfer certificate, i-n a form approved by the Association, signed b the ansferor and the transferee, and (ii) all prior Garage Certificates and copies th reof � , ' sued with respect to the Statl. The Association shall review the proposed tra sfer . ertificate for compliance with this Section 7 and, if the transfer complies, the �Association shall transfer the license on its records to the Unit owned by the trans red and issue a new Garage Certificate to the transferee. The license to use the Stall hall �emain with the Owner and the Unit to which it is assigned until the license is trans eree in accordance with this Section 7.8. In the absence of a properly executed assignme t to tihe contrary, the ]icense to use a Stall assigned to a Unit at the time of the U it's � ¢onveyance shaiI be automatically assigned with the conveyance of title to the Unit. 7.8.4 An Owner may rent or allow the use of the Stall assigned to his or her nit � �nly to or by other Owners and Occupants. The lease or other use right shall e in � �6vritten form, and shall terminate when the lessor, lessee, or other user is no long r an . �wner or Occupant, regardless of the terms of any agreement to the contrary. The Qwner shall give the Association advance written notice of any lease or use agree ent �vith respect to the Stall assigned to that Owner's Unit,and shall promptly provide a opy �f the lease or use agreement to the Association. T11e Association may hold,reassig the �icense for, or rent, a Stall assigned to it in the same manner as an Owner, except fo the � $ta!!s reserved for use by Owners. I 7_8.5 The interest of a secured party holding a first lien or other security int rest �n a Unit shall include the license to any Stall which is assigned to the Unit, and said ��ghts shall be included within ihe secured party's interest acquired in the event f a oreciosure of the lien or other security interest. MPLS-Wor�i 95281.1 l t� + — — — -- �- — _ ._ ..— -- - - �