DonaldM7 (Florida)
Posts: 20
Posts: 20
Posted:
ARTICLE 17
17. Amendments. The covenants, conditions, reservations and restrictions of this Declaration may be amended from time to time, but during the first fifty (5O) years may be amended only by an instrument signed by not less than ninety (90%) percent of the Dwelling Unit Owners, and thereafter, provided this Declaration shall continue to have legal and equitable effect, only by an instrument signed by not less than seventy-five percent (75%) of the Dwelling Unit Owners, provided, however, that until the Developer has completed all of the contemplated improvements and closed the sales of all Dwelling Units within the Development no amendment(s) to this Declaration shall be effective, unless joined by the Developer. It is further provided that in order to be effective any amendment to this Declaration must be recorded amongst the Public Records of Palm Beach County, Florida.
17.1 Notwithstanding anything herein to the contrary, the Declarant (Developer) reserves the right to alter and amend this Declaration, as it deems necessary and/or appropriate for the protection and enhancement of the Development, and the Developer shall not require or need the joinder of any Dwelling Unit Owners, prior to such time as the Developer conveys the last Dwelling Unit of the Development or elects to terminate its control over the Association, whichever shall first occur.
17.2 No amendment shall discriminate against any Dwelling Unit Owner or against any Dwelling Unit, ot class or group of Dwelling Units, unless the Dwelling Unit Owners so affected and their institutional mortgagees shall consent; and no amendment may change the percentage by which the Dwelling Unit owner shares the Common Expenses and owns the Common Surplus, unless the Dwelling Unit Owner and all record owners of liens on it join in the execution of the amendment. No amendment shall make any change in Sections 8.6 and 10.5 hereof or adversely effect an
Institutional Lender unless the record owner of all institutiont mortgages upon all Dwelling qnits shall join in the execution of such amendment.
17. Amendments. The covenants, conditions, reservations and restrictions of this Declaration may be amended from time to time, but during the first fifty (5O) years may be amended only by an instrument signed by not less than ninety (90%) percent of the Dwelling Unit Owners, and thereafter, provided this Declaration shall continue to have legal and equitable effect, only by an instrument signed by not less than seventy-five percent (75%) of the Dwelling Unit Owners, provided, however, that until the Developer has completed all of the contemplated improvements and closed the sales of all Dwelling Units within the Development no amendment(s) to this Declaration shall be effective, unless joined by the Developer. It is further provided that in order to be effective any amendment to this Declaration must be recorded amongst the Public Records of Palm Beach County, Florida.
17.1 Notwithstanding anything herein to the contrary, the Declarant (Developer) reserves the right to alter and amend this Declaration, as it deems necessary and/or appropriate for the protection and enhancement of the Development, and the Developer shall not require or need the joinder of any Dwelling Unit Owners, prior to such time as the Developer conveys the last Dwelling Unit of the Development or elects to terminate its control over the Association, whichever shall first occur.
17.2 No amendment shall discriminate against any Dwelling Unit Owner or against any Dwelling Unit, ot class or group of Dwelling Units, unless the Dwelling Unit Owners so affected and their institutional mortgagees shall consent; and no amendment may change the percentage by which the Dwelling Unit owner shares the Common Expenses and owns the Common Surplus, unless the Dwelling Unit Owner and all record owners of liens on it join in the execution of the amendment. No amendment shall make any change in Sections 8.6 and 10.5 hereof or adversely effect an
Institutional Lender unless the record owner of all institutiont mortgages upon all Dwelling qnits shall join in the execution of such amendment.