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•,, ' . .� Stall assigned by the Association shall be deemed to be licensed and assigned y the , Association to the Unit to which it is assigned. After all Units owned by Declaran have i been conveyed, any unassigned StaIls shall be deemed to be assigned to the Associ tion, and may be reserved for guests of Owners and Occupants, for handicapped parki g, or for rental or assignment by the Association to Owners or Occupants,as determined y the Board. The Association may, after DecIarant no longer owns any Unit, rent or o�h rwise assign any unassigned Stalls to Owners or Occupants. . 7.8.2 The use rights with respect to each Stall shall be deemed to be lic�nsed exclusively to the Owner of the Unit to which the Stall is assigned. The Associatio shall maintain records identifying the Stalls, the Units to which they are assigned,the na es of the Owners of the Units, and the dates of assignment and any reassignments. A ritten certificate of garage stall assignment(the"Garage Certificate")shall be signed and dated � on behalf of the Association and made available for delivery on� the date the wner acquires title to the Unit to which the Stall is assigned. The Association sha l not. unilaterally reassign any Stall assigned to a Unit, except for handicapped Stal1 assignments which may be unilaterally transferred by the Association to accom odate legally handicapped persons. , 7.8.3 A Sta31 shall remain with the Unit to which is it assigned until the 1 cense is transferred in accordance with this Section 7.8.3. Subject to Section 7.8.2, Stall license may be transferred to another Unit,but only by first delivering to the Ass iation (i) a written transfer certificate, in a form approved by the Association, signed y the transferor and the transferee, and (ii) all prior Garage Certificates and copies ereof issued with respect to the Statl. The Association shall review the proposed t nsfer . certificate for compliance with this Section 7 and, if the transfer complie , the Association shall transfer the license on its records to the Unit owned by tt�e tran fered and issue a new Garage Certificate to the transferee. The Iicense to use the Stal sha(I remain with the Owner and the Unit to which it is assigned until the license is tra feree in accordance with this Section 7.8. In the absence of a properly executed assign ent to the convary, the ]icense to use a Stall assigned to a Unit at the time of the nit's � conveyance shait 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 h r Unit j only to or by other Owners and Occupants_ The lease or other use right shali be in � written form, and shall terminate when the (essor, lessee, or other user is no lon er an . Owner or Occupant, regardless of the terms of any agreement to the contrary. The Owner shall give the Association advance written notice of any lease or use agre ment with respect to the Stall assigned to that Owner's Unit,and shall promptly provide copy of the lease or use agreement to the Association The Association may hold,reassi n the license for, or rent, a Stall assigned to it in the same manner as an Owner, except or the � Stalls reserved for use by Owners. I 7_8.5 The interest of a secured party holding a first lien or ottter secnrity i terest on a Unit shall include the license to any Stal1 which is assigned to the Unit, a said rights shall be included within the secured party's interest acquired in the eve t of a foreclosure of the lien or other security interest. M PLS-��'ord 95281.1 l �� � — -- ._ — . _ ..— -- - - �