Condominium Resale Certificate - Williams & Williams

''.84 MIG/jlf 2/4/84
ARTICLE XV.
GENERAL PROVISIONS
15.1 Captions: The captions of the various Articles
and Sections are for purposes of reference
deemed to have any substantive effect.
only and are not
15.2 Mortgagee's Riqhts: Unless provided to the contrary
in a Unit Owner's mortgage, the holder of first mortgage of
the Units (including a holder, insurer or guarantor of a first
mortgage on a Unit in the Condominium which has requested
notice in accordance with the provisions of Section 15.3 of
this Declaration) shall be entitled to the following
rights:
Any restoration or repair of the Condominium
after a partial condemnation or damage due to an
insurable
hazard shall be substantially in accordance with the
provisions hereof and the original plans and specifications
unless the approval of the eligible holders of first
mortgages on Units to which at least fifty-one percent
(51%) of the votes of Units subject to mortgages held by
such eligible holders are allocated, is obtained.
Any election to terminate the Condominium after
substantial destruction or a substantial taking in
condemnation of the Condominium property must also
require the approval of the eligible holders of first
mortgages on Units to which at least fifty-one percent
(51%) of the votes of Units subject to mortgages held by
such eligible holders are allocated.
No reallocation of interests in the Common Elements
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