Condominiium declaration - Laserfiche WebLink

Home Browse Search

• * . � • 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 � 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 assignrnent by the Association to Owners or Occupants, as determined by the �?�ard. The Association may, after DecIarant no longer owns any LJr.i�, rent or otherwise assign any unassigned Stalls to Owners or Occupants. . 7.82 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 shall 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")shall 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. unilaterally reassign any Sta]I assi�ned to a Unit, except for handicapped Stall assignments which may be unilateraily transferred by the Association to accommodate legally handicapped persons. � 7.83 A Stall shall remain with the Unit to which is it assigned until the license is transferred in accordance with this Section 7.8.3. Subject to Sectian 7.8.2, a Sta1l license may be transferred to another Unit,but only by first delivering to the Association (i} a written transfer certificate, rn a forrn 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 Stat1. The Association shall review the proposed transfer � certificate for compliance with this Section 7 and, if the transfer complies, the Association shall transfer the license on its records to the Unit owned by the transfered and issue a new Garage Certificate to the transferee. The license 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 tiiis Section 7.8. In the absence of a properly executed assignment to the contrary, the licerise to use a Stall assigned to a Unit at the time of the Unit's � conveyance shall be autornatically assigned with the conveyance of title to the Unit. 7.8.4 An Owner may rent or allow the use of t}te Stal!assigned to his or her Unit 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 Sta11 assigned to that Owner's Unit,and shall promptly provide a copy of the lease or use agreement to the Association. T1ze 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 lien or other security interest on a Unit shall include the ticense to any Stall 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-Word 95281.1 l f� �