Condominium Resale Certificate - Williams & Williams

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percentage of such cost to be paid by each being the Allocated
Interest attributed to each Unit.
The percentage so
assigned may be changed as a result of an increase or
decrease in the number of units contained in the Condominium.
1.8 Condominium: Real estate, portions of which are designated
for separate ownership and the remainder of which is
designated for common ownership solely by the owners of those
portions.
1.9 Declarant: Taylor-Morley-Simon. Inc. or its successors
or assigns.
1.10 Declaration: This instrument by which the Property
is submitted to the provisions of Chapter 448, Missouri Statutes,
as hereinafter provided1 and by such Declaration as from time to
time amended.
l.]4_Declarant Control Period: Subject to provisions set
forth in Section 11.1, the period commencing on the date hereof
and continuing until the earlier of (i) the date two (2) years
after the date of the first conveyance of a unit to a Unit
Owner other than a Declarant, or (ii) the date upon which Declarant
surrenders control of the Condominium, or Ciii) the date sixty
(60) days after the Declarant has conveyed seventy-five percent
(75%) of the units to Unit Owners other than a Declarant. Within
sixty (60) days after the conveyance of twenty five percent (25%)
of the units, not less than one member of
the Executive Board
shall be elected by the Unit Owners other than the Declarant.
Upon conveyance of fifty percent
-3-
(50%) of the Units, not less