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•,, ' . ., , Stall assigned by the Association shall be deemed to be licensed and assigned by the . A�ssociation to the Unit to which it is assigned. After all Units owned by Declarant h ve i bQen conveyed, any unassigned Stalis shall be deemed to be assigned to the Associat on, and may be reserved for guests of Owners and Occupants, for handicapped parking or fqr rental or assignment by the Association to Owners or Occupants, as determined by e 8pard. The Assaciation m2y, after DecIarant no longer owns any ZJnit, rent or athe ise � assign any unassigned Stalls to Owners or Occupants. _ ' 7.8.2 The use righs with respect to each Stall shall be deemed to be licen ed ex�clusively to the Owner of the Unit to which the Sta11 is assigned. The Association s al3 m�intain records identifying the Stalls, the Units to which they are assigned, the.names of ' th� Owners of the Units, and the dates of assignment and any reassignments. A wri en certificate of garage stall assignment(the"Garage Certificate"} shall be signed and da d � on behalf of the Association and made available for delivery on the date the Ow er acquires title to the Unit to which the Stall is assigned. The Association shall ot unilaterally reassign any Stali assi�ned to a Unit, except for handicapped St 11 as�ignments which may be unilaterally transferred by the Association to accommod te le9ally handicapped persons. , 7.83 A Stall shall remain with the Unit to which is it assigned until the licen e , is transfened in accordance with this Section 7.8.3. Subject to Section 7.8.2, a St 11 license may be transferred to another Unit, but only by first delivering to the Associati n (i} a written transfer certificate, rn a form approved by the Association, signed by t e trarnsferor and the transferee, and {ii) all prior Garage Certificates and copies there f , issued with respect to the Statl. The Association shall review the proposed trans r � cer�ificate for compliance with this Section 7 and, if the transfer complies, e Association shall transfer the license on its records to the Unit owned by the transfer d and issue a new Garage Certificate to the transferee. The license to use the Stall sha 1 � rerriain with the Owner and the Unit to which it is assigned until the license is transfer e in a�ccordance with this Section �.8. In the absence of a properly executed assignment the�contrary, the license to use a Stall assigned to a Unit at the time of the Unit s � conNeyance shatE 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 Un t j only to or by other Owners and Occupants. The lease or other use right sha11 be i � written form, and shall terminate when the lessor, lessee, or other user is no longer a Owner or Occupant, regardless of [he terms of any agreement to the contrary. Th Owrner shall give the Association advance written notice of any lease or use agreemen with,respect to the Stalt assigned to that Owner's Unit, and shall prompily provide a cop of tl�e lease or use agreement to the Association. The Association may hold,reassign th license for, or rent, a Stall assigned to it in the same manner as an Owner, except for th I Stall'S reserved for use by Owners. � ; 7.8.5 The interest of a secured party holding a first lien or other secnrity interes I on a�Unit shall include the license to any Sta(1 which is assigned to the Unit, and sai right$ shall be included within the secured party's interest acquired in the event of foreclosure of the lien or other security interest. MPLS-Word 9528�.1 l f� — -- �- — - — -- -- - - �