Common use of Owners Clause in Contracts

Owners. Any qualified Owner who, after the date on which he became an Owner, becomes disqualified and/or any unqualified Owner, shall promptly notify the Association and Declarant in writing of such disqualification and shall within four months (defined herein as 120 days) of the event of disqualification either (1) sell and transfer, pursuant to and subject to the requirements of Section 1(a) of Article XIV, such Owner's entire ownership interest in his Condominium, or (2) make an Offer to Declarant and Association, pursuant to Section 1(b) of Article XIV, to sell Owner's Condominium.

Owners. Any qualified Owner who, after the date on which he became an Owner, becomes disqualified and/or any unqualified Owner, shall promptly notify the Association and Declarant in writing of such disqualification and shall within four months (defined herein as 120 days) of the event of disqualification either (1) sell and transfer, pursuant to and subject to the requirements of Section 1(a) of Article XIV, such Owner's ’s entire ownership interest in his Condominium, or (2) make an Offer to Declarant and Association, pursuant to Section 1(b) of Article XIV, to sell Owner's ’s Condominium.