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Common interest community document - 2015
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2595 Lydiard Circle #2 - 20-117-23-11-0041
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Common interest community document - 2015
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Last modified
8/22/2023 3:48:44 PM
Creation date
6/22/2017 11:36:13 AM
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x Address Old
House Number
2595
Street Name
Lydiard
Street Type
Circle
Address
2595 Lydiard Circle
Document Type
Misc
PIN
2011723110041
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l. A decision by the Association to establish self-management when professional <br /> management had been required previously by an eligible mortgage holder; <br /> , <br /> m. Restoration or repair of the Condominium after a hazard damage or partial <br /> condemnation in a manner other than that specified in the CIC Documents; <br /> n. Any action to terminate the legal status of the Condominium after substantial <br /> destruction or condemnation occur; <br /> o. Any provisions that expressly benefit mortgage holders, insurers, or guarantors; <br /> p. Any amendment to this Article; <br /> q. Partition or subdivision of any unit except as provided by or allowed by statute; <br /> r. Any attempt by act or omission to abandon,partition, subdivide, encumber, <br /> transfer or sell the common elements; or <br /> s. Any use of hazard insurance proceeds for losses to any condominium property <br /> (whether units or common elements)for other than repair, replacement or <br /> reconstruction of the condominium property. <br /> If an addition or amendment is not considered as a material change, such as the correction <br /> of a technical error or clarification of a statement, then the approval of mortgage holders, <br /> insurers or guarantors shall be assumed if they have failed to submit a response to any <br /> written proposal for such amendment or addition within 30 days after the proposal is <br /> made. <br /> 9. Approval of Termination of Condominium by Unit Owners and Mortgagees. The <br /> Condominium may be terminated only by the written agreement of owners of units to <br /> which at least 80%of the votes in the Association are allocated, and agreement of at least <br /> 80%of the first mortgagees of the units(each mortgagee having one voter her unit <br /> financed), except for the termination of the Condominium in the event of a taking of all <br /> of the units by eminent domain(or conveyances under the threat of eminent domain. All <br /> procedures, appraisals and disposition of proceeds following any termination of the <br /> Condominium shall be governed by Section S15B.2-119 of the Act. <br /> 10. Association Responsible for Maintaining Common Elements.The Association shall <br /> be responsible for maintaining the common elements of the Condominium including all <br /> limited common elements thereof. <br /> 11. Representation by Association.The association shall represent the unit owners in any <br /> proceedings, negotiations, settlements or agreements having to do with any losses or <br /> proceeds from the condemnation,destruction or liquidation of all or part of the <br /> Condominium or from the termination thereof. Consequently,the award or proceeds of <br />
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