Unit Owners Clause Samples
The "Unit Owners" clause defines the rights, responsibilities, and obligations of individuals or entities who own units within a condominium or similar multi-unit property. Typically, this clause outlines what unit owners are permitted to do within their units, their duties regarding maintenance, and their participation in the homeowners' association or governing body. For example, it may specify owners' voting rights, payment of association fees, and compliance with community rules. The core function of this clause is to establish clear expectations for unit owners, ensuring orderly management of the property and harmonious community living.
Unit Owners. If there is a balance of insurance proceeds after payment of all costs of reconstruction and repair that are the responsibility of the Association, this balance may be used by the Association to effect repairs to the Optional Property (if not insured or if under-insured) , or may be distributed to Owners of the Optional Property who have the responsibility for reconstruction and repair thereof. The distribution shall be in the proportion that the estimated cost of reconstruction and repair of such damage to each affected Unit Owner bears to the total of such estimated costs to all affected Unit Owners, as determined by the Board; provided, however, that no Unit Owner shall be paid an amount in excess of the estimated costs of repair for his portion of the Optional Property. All proceeds must be used to effect repairs to the Optional Property, and if insufficient to complete such repairs, the Owners shall pay the deficit with respect to their portion of the Optional Property and promptly effect the repairs. Any balance remaining after such repairs have been effected shall be distributed to the affected Unit Owners and their mortgagees jointly as elsewhere herein contemplated,
Unit Owners. The Association shall maintain a roster of unit owners from the evidence of change of ownership furnished to the Association, which roster shall include the mailing address of unit owners which shall be furnished by them from time to time.
Unit Owners. Each Unit Owner shall perform such inspections and maintenance of its Unit as may be recommended by the Owner’s Maintenance Manual delivered to the owner by the Declarant. If the Unit Owner fails to follow such inspections and maintenance recommendations, neither the Unit Owner nor the Association shall have any claim against the Declarant or its design professionals, contractors, subcontractors or consultants or any of their respective officers, members, managers, directors, employees, agents, brokers or affiliates, for loss or damage to the extent the same results from such failure to follow the Owner’s Maintenance Manual, and shall indemnify such persons and entities from and against claims by the Association, Unit Owners or other persons or entities for loss or damage resulting from such failure.
Unit Owners. Each of the Unit Owners shall be entitled to make determinations with respect to all matters relating exclusively to its Unit and the operation, care, upkeep, Maintenance and administration of the affairs thereof, including, without limitation, hiring of managing agents therefor and the making of Repairs of, and performance of Alterations to, its Unit and the Exclusive Use Common Elements appurtenant thereto, at such Unit Owners sole cost and expense, subject, however to those provisions in the Declaration and these By-Laws that provide otherwise and/or that require approval by the Board of Managers or otherwise set forth restrictions on the right to make such determinations. Notwithstanding the foregoing, but subject to Section 6(h) of the Declaration, each Unit Owner shall at its sole expense Maintain its Unit and the Exclusive Use Common Elements appurtenant thereto in good order and repair, all in accordance with (i) the terms of the Declaration and these By-Laws and (ii) standards prevailing for first-class mixed use office/retail buildings in Manhattan of comparable quality to that of the Building.
Unit Owners