Cable Vault definition
Examples of Cable Vault in a sentence
Nothing contained in this paragraph F is intended to limit the obligation of the Cable Vault Unit Owner: (i) to pay its Percentage Interest of real estate taxes and business improvement district charges while the same are being paid by the Board, (ii) to pay all Unit Expenses which are its Unit Expenses, or (iii) to pay Common Charges in its capacity as a Unit Owner of any Unit other than the Cable Vault Unit.
Except as otherwise provided in this Declaration, this Declaration may be amended only by an instrument in writing (i) signed by both the Cable Vault Unit Owner and the Unit Owners entitled to eighty percent (80%) or more of the undivided interests in the General Common Elements; (ii) acknowledged by the Board Members representing both the Cable Vault Unit Owner and Unit Owners holding a majority of the undivided interests in the General Common Elements; and (iii) duly recorded with the Registry.
The Cable Vault Unit is not intended for regular occupation by persons.
The cost of all insurance obtained and maintained by the Cable Vault Unit Owner pursuant to this Section 7.3E shall be a Common Charge allocated and assessed by the Board to the Unit Owners in accordance with this Declaration.
Accordingly, no costs or expenses with respect to the Common Elements shall be allocated to the Cable Vault Unit Owner, solely in its capacity as such, except for (i) insurance premiums for the coverage described in Section 7.1 of the Declaration and (ii) real estate taxes until the Units are separately assessed.
Notwithstanding anything to the contrary in this Article 7 or this Declaration, nothing in this Declaration shall require the Cable Vault Owner to install any sprinkler systems in the Verizon Units or the Cable Vault Unit (including any Verizon Units Limited Common Element) or to comply with any Insurance Requirements in the Verizon Units (including any Verizon Units Limited Common Element) which would have a Central Office Adverse Effect) .