Condominium Resale Certificate - Williams & Williams

MIG/jlf 2/4/84
Interest of all Units. If the Unit Owners vote not to rebuild
any Unit, that Unit's Allocated Interest are automatically
reallocated upon the vote as if the Unit had been condemned under
Article X hereof and the Association shall promptly prepare,
execute and record an amendment to the Declaration reflecting
the reallocations.
Notwithstanding the provisions of this
Section, Section 9.2 hereof governs the distribution of insurance
proceeds if the Condominium is terminated.
9.2 Termination:
The Condominium may be terminated only by agreement
of Unit Owners of Units to which at least eighty percent
(80%) of the votes in the Association are allocated.
An agreement to terminate shall be evidenced by the
execution of a termination agreement or ratifications
thereof, in the same manner as a deed, by the requisite
number of Unit Owners.
The termination agreement shall
specify a date after which the agreement will be void unless
it is recorded before that date.
A termination agreement
and ratifications thereof shall be recorded in the office of
the Recorder of Deeds of St. Louis County ,
Missouri, and is effective only upon recordation.
Cc) The termination agreement may provide that all of
the Common Elements and Units of the Condominium shall be
sold following termination.
If, pursuant to the agreement,
any real estate in the Condominium is to be sold
following
termination, the termination agreement shall set forth the
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