Master Deed and Bylaws definition
Examples of Master Deed and Bylaws in a sentence
Owner may not lease the Unit, directly or indirectly, except in accordance with the provisions of this Agreement, and except in accordance with the provisions of the Master Deed and Bylaws of the Condominium.
The developer shall submit to the Township a proposed Master Deed and Bylaws, including the Exhibit B condominium plan (“Master Deed”), for the Project.
The failure of the Board of Directors or of an Owner to enforce any right, provision, covenant or condition which may be granted by the Master Deed and Bylaws shall not constitute a waiver of the right of the Board of Directors or Owner to enforce such right, provisions, covenant or condition in the future.
Pursuant to Section 18.3 of the Bylaws, the Association, acting through its Board of Directors, may (but has no obligation to) undertake any maintenance, repair or replacement obligation of the Co- owner of a Unit under this Master Deed and Bylaws, to the extent that the Co-owner has not performed such obligation, and the cost thereof shall be assessed against such Co- owner.
After expiration of the Development Period or when Developer assigns to the Association or to another person the Developer's rights under this Paragraph A(3), the Association shall have the responsibility for maintenance, repair, replacement, decoration and landscaping of the Entranceways to the extent those areas are General Common Elements for which the Association would otherwise have those responsibilities under the Master Deed and Bylaws for the Project.
The Association shall bill and collect the proportionate share of the premium costs from the owners of the Units and other portions of the Grantee Property in accordance with the terms of the Easement and the Master Deed and Bylaws for the Condominium.
The cost of insurance, maintenance, repair and replacement of all General Common Elements shall be borne by the Association subject to any provisions of the Master Deed and Bylaws expressly to the contrary, and assessed to the Co-Owners as set forth in the Bylaws.
The Developer and the City agreed upon the terms of the Master Deed and Bylaws of the Condominium and wish to coordinate the development of the general common elements of the Condominium (the “Common Elements”), shown on Exhibit B of the Master Deed as designed to be built, and the development by each of them of the units in the Condominium.
Unless otherwise provided herein, the approval and review shall be in accordance with the provisions in the Master Deed and Bylaws of each condominium association or in accordance with the business practice and procedures of any other entity that is a party to this Agreement.
The Seller and the PropCo Buyer shall use commercially reasonable efforts to agree upon and finalize (i) the Master Deed and By-laws by no later than thirty (30) days after the Delivery Date and (ii) the Subdivision Plan by no later than thirty (30) days after delivery thereof from the Seller to the PropCo Buyer.