Condominium Declaration - Laserfiche WebLink

Home Browse Search

r , , , i � Stall assigned by the Association shall be deemed to be licensed and assigned by the • Association to the Unit to which it is assigned. After all Units owned by Declarant have � been conveyed, any unassigned Stalls shall be deemed to be assigned to the Association, and may be reserved for guests of Owners and Occupants, for handicapped parking, or for rental or assignment hy the Association to Owners or Occupants, as determined by the Bcard. The Associatio�may, after Declar�7t�o lan�er awns any Unit, rent or otherwise assign any unassigned Stalis to Owners or Occupants. _ 7.8.2 The use righis with respect to each Stall sha11 be deemed to be licensed exclusively to the Owner of the Unit to which the Stall is assigned. The Associatian shall maintain records identifying the Stalls, the Units to which they are assigned,the names o#' the Owners of the Units, and the dates of assignment and any reassignments. A written certificate of garage stap assignment(the"Garage Certificate") shall be signed and dated � on behalf of the Association and made avaiIable for delivery on the date the Owner ° acquires title to the Unit to which the Stall is assigned. The Association shall not unilateral3y reassign any Stall assigned to a Unit, except for handicapped Staq assignments which may be unilaterally transferred by the Association to accommodate legally handicapped persons. . ' 7.8.3 A Stall shall remain with the Unit to which is it assigned until the license is transfened in accordance with this Section 7.8.3. Subject to Section 7.8.2, a Stall license may be transferred to another Unit,but only by first delivering to the Association (i) a written transfer certificate, ia�t a form approved by the Association, signed by the transferor and the transferee, and (ii) all prior Garage Certificates and copies thereof issued with respect to the Stai1. The Association shall review the proposed transfer � certificate for compliance with this Section 7 and, if the transfer complies, the Association shal] transfer the license on its records to the Unit owned by the transfered and issue a new Garage Certificate to the transferee. The [icense to use the Stall shall remain with the Owner and the Unit to which it is assigned until the license is transferee in accordance with this Section 7.8. In the absence of a properly executed assignment to the contrary, the ]icense to use a Stall assigned to a Unit at the time of the Unit's � conveyance shail be automatically assigned with the conveyance of title to the Unit. 7.8.4 An Owner may rent or allow the use of the Stal!assigned to his or her Unit � only to or by other Owners and Occupants_ The lease or other use right sha11 be in written form, and shall terminate when the lessor, lessee, or other user is no longer 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 agreernent with respect to the Stal1 assigned to that Owner's Unit, and shall promptly provsde a copy of the lease or use agreemen[ to the Association. The Association may hold,reassign the license for, or rent, a Stalt assigned to it in the same manner as an Owner, except for the Statls reserved for use by Owners. 7.8.5 The interest of a secured party holding a first lien or other secnrity interest on a Unit shall include the license to any Stall which is assigned to the Unit, and said rights shall be included within the secured party's interest acquired sn the event of a foreclosure of the lien or other security interest. MPLS-Word 95281 J l j 4 — -- - — - – -- �• - - �