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, . . * . 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 Declarani have i 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 rentai or assignment by the Association to Owners or Occupants, as determined by the R�a:d. '�"!1e Association may, after Deciarant no longer awns an; �r,='t, rent or o�herxise assign any unassigned Stalls to Owners or Occupants. _ 7.3.2 The use rights with respect to each Stall shall be deemed to be licensed exclusively to the Owner of the Unit to which the Stall is assigned. The Association sha13 maintain records identifying the Stalls, the Units to which they are assigned, the names of the Owners of the Units, and the dates of assignment and any reassignments. A written certificate of garage stall assignment(the"Garage Certificate"} sha]I be signed and dated � on behalf of the Association and made available for delivery on the date the Owner ' acquires title to the Unit to which the Stall is assigned. The Association shall not. unilateralfy reassigr► any Sta]I assi�ed to a Unit, except for handicapped Stall assignments which may be unilaterally transferred by the Association to accommodate legally handicapped persons. , 7.8.3 A Sta11 shall remain with the Unit to which is it assigned unti] the license is transferred 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, rn 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 Stal1. The Association shall review the proposed transfer • certificate for comp(iance with this Section 7 and, if the transfer complies, the Association shalI transfer the license on its records to the Unit owned by the transfered and issue a new Garage Certificate to the transferee. The ticense 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 shalt 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 Unit j only to or by other Owners and Occupants_ The lease or other use right shall 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 agreement with respect to the StaI! assigned to that Owner's Unit, and shal) promptly provide a copy of the lease or use agreement to the Association. The Association may hold,reassign the license for, or rent, a Stall assigned to it in the same manner as an Owner, except for the Stalls reserved for use by Owners. 7.8.5 The interest of a secured party holding a first]ien or other security interest on a Unit shall include the license to any StaEl which is assigned to the Unit, and said rights shall be included within the secured party's interest acquired in the event of a foreclosure of the lien or other security interest. MPLS-�Vord 9528t.11 �� - -- �- — - — � — -- - - �