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•: • . .' i Stall assigned by the Association shall be deemed to be licensed and assigned b the . ssociation to the Unit to which it is assigned. After a!1 Units owned by Declarant ave i b en conveyed, any unassigned Stalls shall be deemed to be assigned to the Associa ion, � a d may be reserved for guests of Owners and Occupants, for handicapped parkin , or f r rental or assignment by the Association to Owners or Occupants,as determined b the B�ard. The Association may, after Deciarant no longer owns any Unit, rent or othe ise a�sign any unassigned Stalls to Owners or Occupants. . 7.82 The use rights with respect to each Stall shall be deemed to be lice sed exclusi�+ely to the Owner of the Unit to which the Sta1( is assigned. The Association s all rr�aintain records identifying the Stalls, the Units to which they are assigned,the.name of thle Owners of the Units, and the dates of assignment and any reassignments. A wri en certificate of garage stall assignment(the"Garage Certificate"}sha]1 be signed and d ted � on behalf of the Association and made available for delivery on the date the O ner a qu�res title to the Unit to which the Stall is assigned. The Association shall not. u�ilaterally reassign any Stall assi�ned to a Unit, except for handicapped tall a�s�gnments which may be unilaterally transferred by the Association to accommo ate le ally handicapped persons. . , 7.8.3 A Stall shall remain with the Unit to which is it assigned unti] the lice se is transferred in accordance with this Section 7_8.3. Subject to Section 7.8.2, a S a1l li ense may be transferred to another Unit,but only by first delivering to the Associa 'on (i�a written transfer certificate, in a form.approved_by the Association, signed by !the transferor and the ttansferee, and (ii) all prior Garage Certificates and copies ther of � issued with respect to the Statl. The Association shall review the proposed�tran fer • ce�tificate for compliance with this Section 7 and, if the transfer complies, e A�sociation shal] transfer the license on its records to the Unit owned by the transfe ed an'd issue a new Garage Certificate to the transferee. The license to use the Sfall s all remain with the Owner and the Unit to which it is assigned until the license is transfe ee in accordance with this Section 7.8. In the absence of a properly executed assignmen to th� contrary, the license to use a Stall assigned to a Unit at the time of the Un t's conveyance shalt be automatically assigned with the conveyance of title to the Unit. I. 7.8_4 An Owner may rent or allow the use of the Stall assigned to his or her U it on�y to or by other Owners and Occupants. The lease or other use right shall be'in � w tten form, and shall terminate when the lessor, lessee, or other user is no ]onger n Owner or Occupant, regardless af the terms of any agreement to the contrary. e Owner shall give the Association advance written notice of any lease or use agreem nt wi�h respect to the Stal3 assigned to that Owner's Unit,and shal] promptly provide a co y of the lease or use agreement to the Association. The Association may hold,reassign t e . license for, or rent, a Stall assigned to it in the same manner as an Owner, except for t e I Stalls reserved for use by Owners. I , 7.8.5 The interest of a secured party holding a first lien or other security int�r st on a Unit shall include the license to any Stall which is assigned to the Unit, and s id rights shall be included within ihe secured party's interest acquired in the event o a for�closure of the lien or other security interest. M PLS-�Vord 95�81,11 t 4 —.—. ._ _ _ ._ .._ .- - - �