Examples of Unit Owners in a sentence
If Unit Owner fails to procure insurance as required, recoverable damages shall not be limited to the cost of premiums for such additional insurance, but shall include all sums expended, and damages incurred by Cooperative and/or Managing Agent and their respective insurers, which would have otherwise been paid by the Unit Owners required insurance.
Within ninety (90) days after each anniversary date of the execution of this Financial Agreement, the Entity shall submit to the Mayor, Township Committee, the Tax Collector and the Township Clerk, who shall advise those municipal officials required to the advised, a disclosure statement listing the persons having an ownership interest in the Project (exclusive of any Unit Owners), and the extent of the ownership interest of each (each a "Disclosure Statement").
Common Elements – All common areas (including land), common elements, improvements and amenities to be owned by way of undivided percentage interest in common with the other Unit Owners as part of the Project.
All common expenses of the Condominium shall be paid for by all Unit Owners in accordance with the percentage of interest each unit has in the common elements as set forth in the Declaration.
Notwithstanding any provision in this Agreement that may be construed to the contrary, upon the sale of all Units to Unit Owners (other than the Entity or a related party thereto), the restrictions and limitations upon the Entity set forth in Article VIII and Article XV shall terminate upon the Entity’s rendering and the Township’s acceptance of its final accounting, pursuant to N.J.S.A. 40A:20-12.