DECLARATIONS
OF
COAKLEY BAY TOWNHOUSE APARTMENTS CONDOMINIUMS
STAGE I
Buildings A-G
SECTION SUBJECT PAGE
1. NAME 1
2. SUBMISSION
OF PROPERTY 1
(EASEMENTS
GRANTED)
a. SWIMMING
POOL 2
b. ROADWAY
EASEMENTS 2
c. SEWAGE
TREATMENT PLANT 3
d. PARKING
EASEMENTS 3
e. RESTAURANT,
BAR AND COMMISARY
3
f. PIPES,
WIRES, DUCTS, CABLES,
CONDUITS
AND PUBLIC UTILITY LINES 3
(EASEMENTS RESERVED)
a. ROADWAY
EASEMENT 4
b. SWIMMING
POOL AND OTHER
RECREATIONAL
FACILITIES 4
c. SEWAGE
DISPOSAL 4
d. UTILITIES
4
e. RIGHT
TO BUILD 5
3. LAND
AREA
5
4. BUILDINGS
5
5. IDENTIFICATION
OF UNITS
6
6. USE
OF UNITS
6
7. DIMENSIONS
OF UNITS
6
8. COMMON
AREAS AND FACILITIES
6
9. STATEMENT
OF THE NUMBER OF
LIMITED
COMMON AREAS AND
FACILITIES
7
10.
DETERMINATION OF
UNDIVIDED
SHARES
IN COMMON AREAS AND
FACILITIES
8
11. ENCROACHMENTS
8
12. PIPES,
DUCTS, CABLES, WIRES,
CONDUITS,
PUBLIC UTILITY LINES
AND
OTHER COMMON FACILITIES
LOCATED
INSIDE OF UNITS
8
13. POWER
OF ATTORNEY TO BOARD
OF
DIRECTORS
9
14. ACQUISITION
OF UNITS BY
BOARD
OF DIRECTORS
9
15. PERSON
TO RECEIVE SERVICE
10
16. UNITS
SUBJECT TO DECLARATION,
BY-LAWS,
RULES AND REGULATIONS
10
17. AMENDMENT
OF DECLARATION
10
18. RECONSTRUCTION
OR REPAIR OF
CASUALTY
DAMAGE
11
19. ASSESSMENTS
11
20. INSURANCE
15
21. APPORTIONMENT
OF TAX OR
SPECIAL
ASSESSMENT AGAINST
THE
CONDOMINIUM AS A WHOLE
16
22. RESTRICTION
AGAINST SUBDIVIDING
OF
CONDOMINIUM UNITS AND
SEPARATE
CONVEYANCE OF
APPURTENANT
COMMON AREAS AND
FACILITIES
17
23. USE
OF COMMON AREAS AND
FACILITIES
SUBJECT TO RULES OF
THE
CONDOMINIUMS
18
24. RESTRICTIONS
OF INTERFERENCE
WITH
DEVELOPER
18
25. RIGHT
OF ENTRY INTO CONDOMINIUM
UNITS
IN EMERGENCIES
19
26. RIGHT
OF ENTRY FOR MAINTENANCE
OF
COMMON AREAS AND FACILITIES
19
27. CONDOMINIUM
TO MAINTAIN REGISTRY
OF
OWNERS AND MORTGAGES
19
28. NOTICE
OF LIEN OR SUIT
20
29. REMEDIES
IN EVENT OF DEFAULT
20
30. USE
OR ACQUISITION OF INTEREST
IN
THE CONDOMINIUM
22
31. BY-LAWS
22
32. INVALIDITY
22
33. WAIVER
22
34. CAPTIONS
22
35. NOTICE
22
36. GENDER
23
37. EXHIBIT
B
25
38. EXHIBIT
C
30
39. EXHIBIT
E
34
40. EXHIBIT
F
36
In buying a condominium you are embarking on an exciting new concept of
real estate ownership.
A condominium purchaser receives a fee title interest to his own
townhouse apartment and an undivided interest in all the common areas. As a condominium owner, you may
mortgage, sell, lease, or otherwise convey your interest in this unit in the same
manner that you would for a home or a parcel of ground. You own a parcel of real estate without
having to worry about all of the small details of upkeep and management. This form of ownership presents less individual
burdens to the individual and allows for a more carefree living with all the built-in
advantages you would have in owning a luxury home.
Contained herein is the Declaration and By-Laws wherein these units are
submitted or declared to be a “condominium” under certain terms and
conditions binding on all parties as required by the Condominium Act of the
U.S. Virgin Islands.
Wherever the term “condominium” is used, it refers to Stage
I of Coakley Bay.
Wherever the term “developer” is used, it refers to Coakley
Bay Development Corporation.
Wherever the term “Estate Coakley Bay” is used, it refers to
all stages of development at Coakley Bay.
DECLARATION
ESTABLISHING A PLAN FOR
CONDOMINIUM
OWNERSHIP OF COAKLEY
BAY,
ST. CROIX, VIRGIN ISLANDS
PURSUANT
TO CHAPTER 33, TITLE 28
_______VIRGIN
ISLANDS CODE_______
COAKLEY BAY DEVELOPMENT
CORPORATION, a corporation organized and existing under the laws of the
Virgin Islands of the United States, whose principal office is situated at 7
King Street, Christiansted, St. Croix, Virgin Islands, hereinafter referred to
as “the Developer”, does hereby declare:
1. NAME. The name by which
this condominium is to be identified is “Coakley Bay, Townhouse
Apartments, Stage I, a condominium”, hereinafter called
“condominium”.
2. SUBMISSION
OF PROPERTY.
The developer hereby submits the land together with the buildings and
improvements thereon erected and to be erected, owned by the developer in fee
simple absolute, (hereinafter called the “property”), to the
provisions of Chapter 33, Title 28, Virgin Islands Code, known also as the
“Condominium Act of the Virgin Islands”:
Parcel No. 2BB of
Estate Coakley Bay, East
End “B”
Quarter, consisting of 3.6604 U.S.
Acres, more or less,
as shown on Public Works
Drawing No. 2509 dated
December 16, 1968
And recorded with the
Public Surveyor, Christiansted,
St. Croix, Virgin
Islands.
TOGETHER with the tenements, hereditaments, and appurtenances thereunto
belonging and all of the estate, right, title, and interest of the Developer in
and to said premises, including the easements granted or assigned as set forth
below, and subject only to the easements reserved by the Developer as further
set forth below.
EASEMENTS
GRANTED TO OWNERS:
(a) Swimming
Pool, and the use of all recreational facilities to be erected thereon,
and
which area is more particularly described as follows:
Parcel 2 BA of Estate
Coakley Bay, East End
“B”
Quarter, consisting of 1.6200 U.S. acres,
more or less, as shown
on Public Works
Drawing No. 2509 dated
December 16, 1968
And recorded with the
Public Surveyor,
Christiansted, St.
Croix, Virgin Islands.
(i)The
easement premises may be used only by Owners or other authorized occupants of
the respective apartments in the Condominium established herein, the members of
their families and their guests, for swimming and sun bathing and any other
recreational activities provided during the hours and time, as may be
established by the Board of Directors.
(ii) Upon leaving the
easement premises, the persons availing themselves of the easement shall take with
them all property brought there by them and shall leave that portion of said
area used by them in a clean and orderly condition, and shall deposit all
litter in receptacles.
(b) Roadway
Easements: A perpetual,
non-exclusive easement of access and use of that portion of the thirty (30)
foot wide roadway on Parcel 2BA as shown on Exhibit “A” annexed to
this Declaration, which is located outside the boundaries of the property,
which roadway is designated “Road A” on a drawing prepared by Jack
Pearson dated June 24, 1970, the area of which roadway is more particularly
described as follows: thirty (30)
foot wide road coming off of East End Road and crossing Parcel No. 2BA of
Estate Coakley Bay.
(i) Perpetual, non-exclusive easement of access and use of
those 30 foot wide roadways on Estate Coakley Bay, St. Croix, Virgin Islands,
which roadways are designated “Road 5” on a drawing prepared by
Jack Pearson dated June 24, 1970, the Area of which easements are more
particularly described as follows:
Coming off of East End
Road and crossing
Parcel No. 2BA and Parcel No. 2 BB of Estate
Coakley Bay and any
subdivision of Parcel
No. 2B in any future
development in and to the
roadways and common
areas of said future
development.
(c) Sewage
Treatment Plant Easement: A
perpetual easement to connect or “tap in”, from time to time, to
the sewage treatment plant owned and constructed by the Developer and located
on the premises known as parcel 2BA and 2B as shown on Exhibit “A”
to this Declaration, Parcel No. 2BA (corporate-ownership) the sewage system to
be located on the Property including perpetual easement to lay the necessary
pipe lines for the transportation of sewage from Stage I as described above to
the sewage treatment plant mentioned in the foregoing. All additional costs of such connection
or “tap in” shall be borne by any future stage of development, and
the cost of maintaining such connection or “tap in” shall
thereafter be allocated equitably as may be mutually agreed to by the
respective boards of directors of the condominium as provided for in the
By-Laws, Exhibit D of Stage I, and future stages sharing the said sewage
treatment plant.
(d) Parking
Easement: A perpetual, non-exclusive
easement to use for the purposes
of parking any and all parking spaces built or to be built in the future
while using the facilities located in the area designated as Parcel No. 2BA in
Exhibit “A” annexed to this Declaration.
(e) Restaurant, Bar and Commissary Easement: A perpetual, non-exclusive easement
to use the Restaurant, Bar and Commissary as may be built for the needs of
Estate Coakley Bay, located in Parcel 2BA, as shown on Exhibit “A”
annexed to this Declaration.
(f) Pipes,
Wires, Ducts, Cables, conduits, and Public Utility Lines: A perpetual, non-exclusive easement to
run pipes, wires, ducts, cables, conduits, and public utility lines through
Parcel 2BA as shown on Exhibit “A” annexed to this Declaration and
through an area to be agreed upon by Developer and the Condominium and the
right to enter at any time to maintain these utilities.
EASEMENTS RESERVED BY
DEVELOPER.
The Developer, its successors and assigns, and future
owners, hereby reserve the following easements, it being understood that the
same may be further assigned by the Developer without any restriction
whatsoever, in whole or in part, at any time, and from time to time:
(a) Roadway
Easement: A perpetual,
non-exclusive easement of access and use of that portion of the thirty (30)
foot wide roadway on Parcel 2BB as shown on Exhibit “A” annexed to
this Declaration, which is located within the boundaries of the Property, which
roadway is designated by “Road B” on a drawing prepared by Jack Pearson
dated June 24, 1970, the area of which roadway is more particularly described
above.
(b) Swimming
Pool Easement and Other Recreational Facilities: A perpetual, non-exclusive easement for
swimming and sun bathing and other recreational facilities, that portion of the
Property designated as Parcel 2BA as shown on Exhibit “A” annexed
to this Declaration, which Parcel is more particularly described above.
(c) Sewage
Disposal Easement: A
perpetual, non-exclusive easement to connect or “tap in” from time
to time, to the pipelines for sewage to be laid on the Property, for future
stages of Estate Coakley Bay which future stages are presently planned by the
Developer. All additional costs of such connection or “tap in”
shall be borne by the Developer, its successors and assigns, and the cost of
maintaining the said pipelines following such connection shall thereafter be
allocated equitably as may be mutually agreed to by the respective Boards of
Directors of the condominiums sharing the same.
(d) Utilities
Easement: Perpetual,
non-exclusive easements and rights of way over the Property Parcel 2BA and 2BB
as shown on Exhibit “A” annexed to this Declaration, for the
creation, construction, and maintenance of public, quasi-public, and private
underground utilities, such as gas, water, telephone, telegraph, electricity,
storm drains and land drains.
(e) Right
to Build: A perpetual right
to build other structures and improvements for the benefit of Estate Coakley
Bay and Developer in Parcel 2BA and 2BB as shown on Exhibit “A”
annexed to this Declaration.
3. LAND
AREA. The condominium land has an area of approximately 3.6604
acres and Parcel 2BA as shown on Exhibit “A” annexed to this
Declaration corporate area has an area of approximately 1.6200 acres.
(a) The
Developers hereby agree that at the conclusion of construction and conveyance
to purchasers of all apartment units in Stage I, and Stage II which will
consist of a maximum of One Hundred Thirty (130) units, located generally to
the West and South of Stage I and the corporate area, an undivided interest in
the swimming pools, as hereinafter described, will be granted and conveyed to
each apartment unit owner in accordance with each unit’s respective
percentage interest in the condominium areas and facilities of Stage I and II.
The pool as aforesaid shall mean the physical pool situate in Parcel 2
BA and an area extending five (5) feet from the pool along its perimeter and in
addition such area upon which is physically located the pump house and
filtration system, together with a reasonable convenient easement of access
thereto.
The Developers further agree to furnish each owner, as soon as practicable,
a recorded survey plan showing the dimensions of the aforesaid grant.
Further, in the event construction on Stage II has not started within
five (5) years from the date of this Declaration, the conveyance as aforesaid
shall be made to those unit owners in Stage I only.
4. BUILDINGS.
The condominium will consist of 61 condominium units, townhouse
apartments, in a group of five buildings 2 ½ stories high, known as
Buildings B, C, D, F, and G, and two buildings 3 ½ stories high, known
as Buildings A and E, all to be constructed of reinforced concrete masonry,
concrete block with wood joist and concrete poured floors or wood floors and
wood frame roofs. Buildings A, C,
D, and E contain one basement area each.
Buildings F and G contain two basement areas each. Building B contains no basement area.
5. IDENTIFICATION
OF UNITS. Annexed hereto and
made a part hereof as Exhibit “B” is a list of all units in the
buildings, their unit designations, locations, approximate areas, number of
rooms (all as shown on the floor plans of the buildings, certified by Carlos
Saillant-Smith, Architect, intended to be filed in the Office of the Recorder
of Deeds for St. Croix in St. Croix, Virgin Islands, simultaneously with the
recording of this Declaration). All
apartment units have immediate access to steps, ramps, pads and other common
areas immediately adjacent to each building.
6. USE
OF UNITS. Each of the buildings
and units shall be used as a residence.
Each condominium unit is hereby restricted to residential use by the
owner or owners thereof, their immediate families, guests and invitees,
including guests under a lease or hotel plan which has been approved by the
condominium with Coakley Bay Hotel Corporation, a Virgin Islands Corporation.
7. DIMENSIONS
OF UNITS. Each unit consists of the
area measured horizon-tally from the unit side of the exterior concrete walls
of the building to the unit side of the walls and/or partitions separating such
unit from steps, stairways, entrance bridges, landing platforms, or from other
common or limited common areas, and where walls and/or partitions separate such
unit from other units, to the side of such walls and/or partitions facing such
unit; vertically each unit consists of the space between the top surface of the
floor and the under surface of the ceiling, and shall include the balcony and
the rear landing appurtenant to each unit.
8. COMMON
AREAS AND FACILITIES. The common areas and
facilities consist of the entire Property including all parts of the Buildings
other than the units, and including, without limitation, the following:
(a) The land on which the Buildings are erected.
(b) All roofs, foundations, columns, beams, and supports.
(c) All exterior walls of the Buildings; all walls and
partitions separating units
from steps, stairways, entrance bridges, landing platforms,
or from other common or limited common areas; all walls and partitions
separating units; all floors and ceilings.
(d) All laundry
service rooms, storage rooms, pump rooms, and other similar facilities, all
landscaping, all roads and walkways, all exterior lighting and all driveways
and parking areas.
(e) All central
and appurtenant installations for services such as power, light and telephone,
gas, hot and cold water, potable and salt water, (including all pipes, ducts,
wires, cables and conduits used in connection therewith, whether located in
common areas or in units) and all other mechanical equipment spaces, including:
(i) The underground electrical distribution center.
(ii) The rainwater collection system, including cisterns and
piping.
(iii) The potable water system, including pressure tanks,
pumps, and
piping to individual units.
(iv) All sewer lines and conduits.
(f) All other parts of the Property and all apparatus and
installations existing in the Buildings or on the Property for the common use
or necessary or convenient to the existence, maintenance, or safety of the
property.
9. STATEMENT
OF THE NUMBER OF LIMITED COMMON AREAS AND FACILITIES.
It is hereby declared that the condominium shall not have any limited
common areas or facilities, as that term is defined in the Condominium Act of
the Virgin Islands, Chapter 33, Title 28, Virgin Islands Code.
10. DETERMINATION
OF UNDIVIDED SHARES IN COMMON AREAS AND FACILITIES. The percentages of interest of the respective units in the
common areas and facilities (hereinafter sometimes called the “common
interests”) have been determined upon the basis of the proportion which
the value of each unit bears to the value of the Condominium Stage I, and such
values and percentages are set forth in Exhibit “C” attached hereto
and made part hereof.
11. ENCROACHMENTS.
If any portion of the common areas and facilities encroaches upon any
unit, or if any unit now encroaches upon any other unit, or upon any portion of
the common areas and facilities, as a result of the construction of the
Building(s) or if any such encroachment shall occur hereafter as a result of
settling or shifting of the Building(s), a valid easement for the encroachment
and for the maintenance of the same so long as the Building(s) stands, shall
exist. In the event that the Building(s),
the unit, any adjoining unit, or any adjoining common area or facility shall be
partially or totally destroyed as a result of fire or other casualty or as a
result of condemnation or eminent domain proceedings, and then rebuilt,
encroachments of parts of the common areas and facilities upon any unit or of
any unit upon any other unit or upon any portion of the common area and
facilities due to such rebuilding, shall be permitted, and valid easements for
such encroachments and the maintenance there of shall exist so long as the
Building(s) shall stand.
12. PIPES, DUCTS, CABLES, WIRES, CONDUITS,
PUBLIC UTILITY LINES AND OTHER COMMON FACILITIES LOCATED INSIDE OF UNITS. Each Unit owner shall have an
easement in common with owners of all other units to use all pipes, wires,
cables, conduits, public utility lines, and other common facilities located in
any of the other units and serving the unit. Each unit shall be subject to an
easement in favor of the owners of all other units to use the pipes, ducts,
cables, conduits, public utility lines and other common facilities serving such
other units and located in such unit.
13. POWER
OF ATTORNEY TO THE BOARD OF DIRECTORS. Whenever any unit owner desires
to sell, lease, or surrender his unit to the Board of Directors, or, in the
event any unit becomes the subject of a foreclosure or other judicial sale,
such unit owner shall grant to the persons who shall from time to time
constitute the Board of Directors, an irrevocable power of attorney, coupled
with an interest to acquire title to or lease such unit in the name of the
Board of Directors or its designee, corporate or other wise, on behalf of all
unit owners, and to convey, sell, lease, mortgage, vote the votes appurtenant
thereto or otherwise deal with any such unit so acquired or to sublease any
unit so leased to the board of Directors, provided, however, if an owner
desires to sell his unit to a third party, the Board of Directors shall have
right of first refusal to purchase said unit at such price as the owner
specifies and desires to sell and that such right shall be for a limited period
not exceeding forty-five (45) days following the time that the owner gives
notice in writing to a representative of the Board of Directors of his desire
to sell and the price at which he desires to sell said unit. This paragraph is not intended to
violate any provision of the Virgin Islands Civil Rights Act.
14. ACQUISITION OF UNITS BY BOARD OF
DIRECTORS. In the event any unit
owner shall, in compliance with the terms and conditions of the By-Laws,
surrender his unit together with:
(i.)
The undivided interest
in the common areas and facilities appurtenant
thereto;
(ii) The interest of
such unit owner in any other units acquired by the Board of Directors or its
designee on behalf of all unit owners or the proceeds of the sale or lease
thereof, if any; and
(ii) The
interest of such unit owner in any other assets of the condominium (hereinafter
collectively called “Appurtenant Interests”), or in the event the Board of Directors
shall purchase from any unit owner who has elected to sell the same, a unit,
together with Appurtenant Interests, or in the event the Board of Directors
shall purchase at a foreclosure or other judicial sale, a unit, together with
the Appurtenant Interests, title to any such unit, together with the
Appurtenant Interests, shall be held by the Board of Directors or its designee,
corporate or otherwise, on behalf of all unit owners, in proportion to their
respective common interests. The lease covering any unit leased to the Board of
Directors or its designee, corporate or otherwise, shall be held by the Board
of Directors, or its designee, on behalf of all unit owner, in proportion to
their respective common interests.
15. PERSON
TO RECEIVE SERVICE. Mr. Ronald H. Tonkin,
Attorney, 7 King Street, Christiansted, St. Croix, Virgin Islands, is hereby
designated to receive notice of process in any action which may be brought
against the Condominium.
16. UNITS
SUBJECT TO DECLARATION, BY-LAWS, RULES AND REGULATIONS.
All present and future owners, tenants, and occupants of units shall be
subject to and shall comply with the provisions of this Declaration, the By-Laws,
and the Rules and Regulations, as they may be amended from time to time. The acceptance of a deed or conveyance
or the entering into of a lease or the entering into occupancy of any unit
shall constitute an agreement that the provisions of the Declaration, the
By-Laws and the Rules and Regulations as they may be amended from time to time,
are accepted and ratified by such owner, tenant or occupant and all of such
provisions shall be deemed and taken to be covenants and running with the land
and shall bind any person having at any time any interest or estate in such
unit, as though such provisions were recited and stipulated at length in each
and every deed or conveyance or lease thereof. No person, irrespective of the nature of
his interest, shall bring any action or proceeding for partition or division of
the Property or any part thereof except as may be specifically permitted by the
Condominium Act of the Virgin Islands, by the provisions hereof or by the
By-Laws.
17. AMENDMENT
OF DECLARATION. This Declaration may be
amended by the vote of at least seventy-five percent (75%) in number and in
common interest of all unit owners, cast in person or by proxy at a meeting
duly held in accordance with the provisions of the By-Laws, provided, however,
that any such amendment shall have been approved in writing by all mortgagees
who are the holders of mortgages comprising first liens. No such amendments shall be effective
until recorded in the Office of the Recorder of Deeds for St. Croix, Christiansted,
U.S. Virgin Islands. Notice to
purchasers of amendment by certified mail and any nonreply within fourteen (14)
days is an acceptance.
18. RECONSTRUCTION
OR REPAIR OF CASUALTY DAMAGE. In the event that two-thirds (2/3) or more of the total
number of apartment units are substantially damaged or destroyed, a decision
not to reconstruct or repair such damage or destruction may be made within
sixty (60) days of the date of such damage or destruction by the vote of at
least seventy-five percent (75%) in number and in common interest of all unit
owners, cast in person or by proxy at a meeting duly held in accordance with
the provisions of the By-Laws. If
less than two-thirds (2/3) of the total number of apartment units are damaged
or destroyed, it shall be mandatory that such damage be repaired and
restored. All reconstruction and
repairs must be made according to substantially the same plans, specifications,
design and total cubic area, pursuant to which the Buildings were initially
constructed.
19. ASSESSMENTS. Monies or funds for the payment of common expenses shall be
assessed against unit owners in the percentage of their common interest
provided herein, and shall be determined levied, collected, held and disbursed
as provided in the Condominium Act of the Virgin Islands. Common expenses shall include the
proportion of expenses of maintaining all common areas and all areas in Parcel
2BA as shown on Exhibit “A” annexed to this Declaration, including
the maintenance and operation of the sewage treatment facilities, which
includes, treatment plant, pumping stations, all appurtenant piping thereto and
therefrom, holding tanks and other appurtenant facilities and accessories,
excluding the Restaurant and the Commissary facilities in common with other
condominiums to be built by the Developer.
In addition, the expenses of maintenance of the Administration Building
situate in Parcel 2BA shall be likewise excluded, provided that the Condominium
shall pay rental based on comparable rates established in St. Croix for the
areas used for the benefit of the Condominium as determined by the Board of
Directors. The Condominium shall
have a lien on each condominium unit for any unpaid assessments, as provided by
the Condominium Act of the Virgin Islands, which lien shall also secure
reasonable attorneys’ fees incurred by the Condominium incident to the
collection of any such assessment of enforcement of such lien.
In connection with the foreclosure of a lien against a unit owner, such
unit owner shall be required to pay a reasonable rental (as determined by the
Directors) for the condominium parcel, and the Condominium shall be entitled to
the appointment of a Receiver to collect the same.
(a) All monies collected by the Condominium shall be treated
as a separate fund of the said Condominium, and such monies may be applied by
the Condominium to the payment of any expenses of operating and managing the
Condominium, or to the proper undertaking of all acts and duties imposed upon
it by virtue of this Declaration of Condominium and its By-Laws, and as the
monies for any assessment are paid to the Condominium by any owner of a
condominium unit the same may be commingled with the monies paid to the
Condominium by the other owners of Condominium units. Although all funds and other assets of
the Condominium and any increments thereto or profits derived therefrom or from
the leasing or use of common areas and facilities, shall be held for the
benefit of the members of the Condominium, no member of said Condominium shall
have the right to assign, hypothecate, pledge or transfer his membership
interest therein, except as an appurtenance with his condominium unit. When the owner of a condominium unit shall
cease to be a member of the Condominium by reason of the divestment of his
ownership, by whatever means, the Condominium shall not be required to account
to such owner for any share of the funds or assets of Condominium, or which may
have been paid to Condominium by such owner, as all monies which any owner has paid to Condominium shall
be and constitute the assets of the Condominium which may be used in the
operation and management of the Condominium.
(b) No owner of
a condominium unit may exempt himself from liability for any assessment levied
against such owner and his condominium unit by waiver of the use or enjoyment
of any of the common areas and facilities, or by abandonment of the condominium
unit or by any other means.
(c) The lien herein granted to the Condominium shall be
effective from and after the time of recording in the records of the Recorder
of Deeds, Office of the Government
Secretary, Christiansted, St. Croix, a claim of lien stating the
description of the Condominium unit encumbered thereby, the name of the record
owner, the amount due and the date when due, and the lien shall continue in
effect until all sums secured by said lien, as herein provided, shall have been
fully paid. Such claims of lien
shall include only assessments which are then due and payable when the claim of
lien is recorded, plus interest, costs, attorney’s fees, advances to pay
taxes and prior encumbrances and interest thereon, all as above provided. Such claims of lien shall be signed and
verified by the secretary or agent of the Condominium. Upon full payment of all sums secured by
such claim of lien, the same shall be satisfied of record. The claim of lien filed by the
Condominium shall be subordinate to the lien of any mortgage or any other lien
recorded prior to the time of recording of the Condominium’s claim of
Lien, except that the Lien of the Condominium for tax or special assessment
advances made by Condominium where any taxing authority having jurisdiction
levies any tax or special assessment against the Condominium as an entirety
instead of levying the same against each Condominium unit and its appurtenant
undivided interest in common areas and facilities, shall be prior in lien,
right and dignity to the lien of all mortgages, liens and encumbrances, whether
or not recorded prior to the Condominium’s claim of lien therefore, and
the special assessment shall specifically designate that the same secures an
assessment.
In the event that any person, firm or corporation shall acquire title to
any condominium unit and its appurtenant undivided interest in common areas and
facilities by virtue of any foreclosure or judicial sale or by any other means
such person, firm or corporation so acquiring title shall be only liable and
obligated for assessments as shall accrue and become due and payable for said
condominium unit and its appurtenant undivided interest in common areas and
facilities subsequent to the date of acquisition of such title, and shall not
be liable for the payment of any assessments which were in default and
delinquent to the time it acquires such title, except that such person, firm or
corporation shall acquire such title subject to the lien of any future
assessment by the Board of Directors.
(d)
Whenever any condominium unit may be leased, sold, or mortgaged by the
owner thereof, which lease or sale shall be concluded only upon compliance with
other provisions of this Declaration, the Condominium, upon written request of
the owner of such condominium unit, shall furnish to the proposed lessee,
purchaser or mortgagee, a statement verifying the status of payment of any
assessment which shall be due and payable to the Condominium by the owner of
such condominium unit. Such statement
shall be executed by any officer of the Condominium and any lessee, purchaser
or mortgagee may rely upon such statement in concluding the proposed lease,
purchase or mortgage transaction., and Condominium shall be bound by such
statement.
In the event that a condominium unit is to be leased, sold, or mortgaged
at the same time when payment of any assessment against the owner of said
condominium unit and such condominium unit due to the Condominium shall be in
default (whether or not a claim of lien has been recorded by the Condominium),
then the rent, proceeds of such purchase or mortgage proceeds, shall be applied
by the lessee, purchaser, or mortgagee first to payment of any then delinquent
assessments thereof due to the Condominium before the payment of any rent,
proceeds of the purchase or mortgage proceeds to the owner of any condominium
unit who is responsible for payment of such delinquent assessment.
In any voluntary conveyance of a condominium unit, the grantee shall be
jointly and severally liable with the grantor for all unpaid assessments
against grantor made prior to the time of such voluntary conveyance, without
prejudice to the rights of the Grantee to recover from the grantor the amounts
paid by the grantee therefore.
Institution of a suit of law to attempt to effect collection of the
payment of any delinquent assessment shall not be deemed to be an election by
the Condominium which shall prevent its thereafter seeking enforcement of the
collection of any sums remaining owing to it by foreclosure, nor shall
proceeding by foreclosure to attempt to effect such collection be deemed to be
an election precluding the institution of suit representing an apportionment of
taxes or special assessment levied by taxing authorities against the
Condominium in its entirety.
In the event a condition exists which may endanger the property of other
condominium owners or the common areas and it becomes necessary to make
emergency repairs to said condominium units or replacement of equipment in said
unit, the owner of such condominium unit shall be liable and pay for the said
repairs or replacements of said condominium or equipment.
20. INSURANCE.
The lien reserved to the Condominium securing its assessment payment as
provided in Paragraph 19 above shall be deemed a mortgage for the purpose of
this paragraph.
The Condominium, through its Board of Directors, shall purchase an
insurance policy insuring the building and improvements erected upon the
property, all fixtures and personal property owned in common by the unit
owners, including Parcel No. 2BA shown on Exhibit “A” annexed to
this Declaration except the Restaurant and Commissary area, against loss or
damage by fire and hazards covered by windstorm and extended coverage
endorsements; such policy shall be in an amount which shall be equal to the
maximum insurable replacement value as determined annually by the insurance
carrier. The policy shall be
purchased in the name of the Condominium for the benefit of the Condominium,
the unit owners, and their mortgages as their interests may appear, and
provisions shall be made for the issuance of mortgage endorsements to the
mortgagees of the respective units.
In the event of loss, the Condominium shall use the net insurance proceeds
to repair and replace damage to real or personal property covered by the
policy, with any excess to be payable to the unit owners and their mortgagees
as their interests may appear. Any
reconstruction, repair or replacement shall be in accordance with the plans and
specifications for the original building prepared by Carlos Saillant-Smith,
said plans being on file with the Department of Public Works in St. Croix,
Virgin Islands.
If the insurance proceeds are insufficient to cover the loss, the
Condominium shall levy an assessment against the unit owners in accordance with
this Declaration to cover any deficiency.
In the event the common areas are totally destroyed or damaged, or in
the event that said common areas are damaged or destroyed in excess of fifty
percent (50%) of their value, the common elements shall nevertheless be rebuilt
as heretofore provided, unless seventy-five percent (75%) of all unit owners
shall elect within thirty (30) days not to rebuild, in which event the Condominium
shall be terminated, and the insurance proceeds shall be disbursed to the unit
owners and their mortgagees as their interests may appear.
In addition to the above and foregoing insurance, the Condominium,
through its Board of Directors, shall purchase and keep in effect a
comprehensive public liability policy, insuring the Condominium, its Board of
Directors, Officers and unit owners against possible liabilities arising out of
the use of the common elements and units.
Said policy shall be in an amount of not less than
$100,000.00/$300,000.00 personal injury and $25,000.00 property damage.
The Condominium further shall, if required by law, carry Workmen’s
Compensation Insurance Policy, which policy will comply with the requirements
of the laws of the Virgin Islands.
All insurance premiums shall be included and treated as a common
expense.
Condominium parcel owners may obtain insurance coverage at their own
expense upon their own personal property and for their personal liability and
living expenses.
21. APPORTIONMENT
OF TAX OR SPECIAL ASSESSMENT AGAINST THE CONDOMINIUM AS A WHOLE.
In the event that any taxing authority having jurisdiction over the
Condominium shall levy or assess any tax or special assessment against the
Condominium as a whole as opposed to levying and assessing such tax or special
assessment in common areas and facilities as now provided by law, then such tax
or special assessment so levied shall be paid as a common expense by the
Condominium and any taxes or special assessments which are to be so levied
shall be included, wherever possible, in the estimated annual budget of the
Condominium, or shall be separately levied and collected as an assessment by the
Condominium against all of the owners of all condominium units and said
condominium units if not included in said annual budget. The amount of any tax or special
assessment paid or to be paid by the Condominium in the event that such tax or
special assessment is levied against the Condominium as a whole instead of
against each separate condominium unit and its appurtenant undivided interest
in the common areas and facilities shall be apportioned among the owners of all
condominium units so that the amount of such tax or special assessment so paid
or to be paid by the Condominium and attributable to and to be paid by the
owner or owners of each condominium unit shall be that portion of such total
tax or special assessment which bears the same ratio to said total tax or
special assessment as the undivided interest in the common areas and facilities
appurtenant to each condominium unit bears to the total undivided interest in
common areas and facilities appurtenant to all condominium units. In the event that any tax or special
assessment shall be levied against the Condominium entirely, without
apportionment by the taxing authority to the condominium units and appurtenant
undivided interest in common areas and facilities, then the assessment by the
Condominium, which shall include the proportionate share of such tax or special
assessment attributable to each condominium unit and it appurtenant undivided
interest in the common areas and facilities, shall separately specify and
identify the amount of such assessment attributable to such tax or special
assessment, and the amount of such tax or special assessment so designated
shall be and constitute a lien prior to all mortgages or encumbrances upon any
condominium unit and its appurtenant undivided interest in common areas and
facilities, regardless of the date of the attachment or recording of such
mortgage or encumbrance, to the same extent as though such tax or special
assessment had been separately levied by the taxing authority upon each
condominium unit and its appurtenant undivided interest in common areas and
facilities.
All personal property taxes which may be levied or assessed against
personal property owned by the Condominium shall be paid by the Condominium and
shall be included as a common expense in the annual budget of the Condominium.
22. RESTRICTION
AGAINST SUBDIVIDING OF CONDOMINIUM UNITS AND SPARATE CONVEYANCE OF APPURTENANT
COMMON AREAS AND FACILITIES. No condominium unit
may be divided or subdivided into smaller dwelling units than as shown on
Exhibit “B” annexed to this Declaration. The undivided interest in the common
areas and facilities declared to be an appurtenance to each condominium unit
shall not be conveyed, devised, encumbered, or otherwise dealt with separately
from the condominium unit, and the undivided interest in common areas and
facilities appurtenant to each condominium unit shall be deemed conveyed,
devised, encumbered or otherwise included with the condominium unit even though
such undivided interest is not expressly mentioned or described in the
instrument conveying, devising, encumbering or otherwise dealing with such
condominium unit. Any conveyance,
mortgage or other instrument which purports to affect the conveyance, devise or
encumbrance, or which purports to grant any right, interest or lien in, to or
upon, a condominium unit, shall be null, void, and of no effect insofar as the
same purports to affect any interest in a condominium unit and its appurtenant
undivided interest in common areas or facilities, unless the same purports to
convey, devise, encumber or otherwise trade or deal with the entire condominium
unit. Any instrument conveying,
devising, encumbering, or otherwise dealing with any condominium unit which
describes the condominium unit by the Unit Number assigned thereto in Exhibit
“B” annexed to this Declaration without limitation or expectation,
shall be deemed and construed to affect the entire condominium unit and its
appurtenant undivided interest in the common areas and facilities. Nothing herein contained shall be
construed as limiting or preventing ownership of any condominium unit and its
appurtenant undivided interest in the common areas and facilities by more than
one person or entity as tenants in common, joint tenants, or tenants by the
entirety.
23. USE OF
COMMON AREAS AND FACILITES SUBJECT TO RULES OF THE CONDOMINIUM.
The use of common areas and facilities by the owner or owners of all
condominium units, and all other parties authorized to use the same, shall be
at all time subject to such reasonable rules and regulations as may be
prescribed and established governing such use, or which may be hereafter
prescribed and established by the Condominium through its Board of Directors,
including use for commercial or other purposes.
24. RESTRICTIONS
ON INTERFERENCE WITH DEVELOPER. Until the Developer
has completed and sold all of the condominium units, including those which may
be subsequently constructed, neither the condominium unit owners nor the
Condominium nor the users of the Condominium property shall interfere with the
completion of the contemplated improvements and the sale of the condominium
units.
25. RIGHT
OF ENTRY INTO CONDOMINIUM UNITS IN EMERGENCIES.
In case of any emergency originating in or threatening any condominium
unit, regardless of whether the owner is present at the time of such emergency,
the Board of Directors, or any other person authorized by it, or the building
superintendent or managing agent, shall have the right to enter such
condominium unit for the purpose of remedying or abating the cause of such
emergency, and such right of entry shall be immediate, and to facilitate entry
in the event of any such emergency, the owner of each condominium, if required
by the Condominium, shall deposit under the control of the Condominium a key to
such condominium unit.
26. RIGHT
OF ENTRY FOR MAINTENACE OF COMMON AREAS AND FACILITIES.
Whenever it is necessary to enter any condominium unit for the purpose
of performing any maintenance, alterations or repair to any portion of the
common areas and facilities, the owner of each condominium unit shall permit
other owners or their representatives, when authorized by Condominium or the
duly constituted and authorized agent of the Condominium, to enter such
condominium unit, for such purpose, provided that such entry shall be made only
at reasonable times and with reasonable advance notice.
27. CONDOMINIUM
TO MAINTAIN REGISTRY OF OWNERS AND MORTGAGEES. The Condominium shall
at all times maintain a listing stating the names of the owners of all of the
condominium units; and in the event of the sale or transfer of any condominium
unit to a third party, the purchaser or transferee shall notify the Condominium
in writing of his interest in such condominium unit together with such
recording information as shall be pertinent to identify the instrument by which
such purchaser or transferee has acquired his interest in any condominium
unit. Further, the owner of each
condominium unit shall at all times notify the Condominium of the names of the
parties holding any mortgage or mortgages on any condominium unit, the amount
of such mortgage or mortgages and the recording information which shall be
pertinent to identify the mortgage or mortgages. The holder of any mortgage or mortgages
upon any condominium unit may, if he so desires, notify the Condominium of the
existence of any mortgage or mortgages held by such party on any condominium
unit, and upon receipt of such notice, the Condominium shall register in its
records all pertinent information pertaining to the same.
28. NOTICE
OF LIEN OR SUIT.
(a)
A condominium unit
owner shall give notice to the Condominium of every lien upon his condominium
unit, other than for permitted mortgages, taxes, and special assessments,
within five (5) days after the attaching of a lien. Failure to comply with this paragraph
will not affect the validity of any judicial sale.
(b)
Notice shall be given
to the Condominium of every suit or other proceeding which may affect the title
to his condominium unit within five (5) days after the condominium unit owner
receives knowledge thereof.
(c)
Any lien holder
entering suit against an owner of a unit shall notify the Board of Directors.
29. REMEDIES
IN EVENT OF DEFAULT. The owner or owners of
each condominium unit shall be governed by and shall comply with the provisions
of this Declaration of Condominium, and its By-Laws, as any of the same are now
constituted or as they may be amended from time to time. A default by the owner or owners of any
condominium unit shall entitle the Condominium or the owner or owners of other
condominium unit or units to the following relief.
(a)
Failure to comply with
any of the terms of this Declaration of Condominium or other restrictions and
regulations contained in the By-Laws, or which may be adopted pursuant thereto,
shall be grounds for relief which may include, without intending to limit the
same, an action to recover sums due for damages, injunctive relief, foreclosure
of lien or any combination thereof, and which relief may be sought by the
Condominium or, if appropriate, by an aggrieved owner of a condominium unit.
(b)
The owner or owners of
each condominium unit shall be liable for the expense of any maintenance,
repair or replacement rendered necessary by his act, neglect or carelessness,
or by that of any member of his family, or his or their guests, employees,
agents or lessees, but only to the extent that such expense is not met by the
proceeds of insurance carried by the Condominium. Such liability shall include any
increase in fire insurance rates occasioned by use, misuse, occupancy, or
abandonment of a condominium unit or its appurtenances. Nothing herein contained however, shall
be constructed so as to modify any waiver by insurance companies of rights of
subrogation.
(c)
In any proceeding
arising because of an alleged default by the owner of any condominium unit, the
Condominium, if successful, shall be entitled to recover the costs of the
proceeding, and such reasonable attorney’s fees as may be determined by
the Court.
(d)
The failure of the
Condominium or of the owner of a condominium unit to enforce any right,
provision, covenant or condition which may be granted by this Declaration of
Condominium or other above-mentioned document, shall be deemed to be
cumulative, and the exercise of any one or more shall preclude the party thus
exercising the same from exercising such other and additional rights, remedies,
or privileges as may be available to such party at law or in equity.
(e)
The failure of the
Developer to enforce any right, privilege, covenant or condition which may be
granted to it by this Declaration of Condominium or other above-mentioned
document shall not constitute waiver of its rights to thereafter enforce such
right, provision, covenant, or condition in the future.
30. USE OR
ACQUISITION OF INTEREST IN THE CONSOMINIUM.
All present or future owners, tenants, or any other person who might use
the facilities of the Condominium in any manner, are subject to the provisions
of this Declaration of Condominium and the mere act of occupancy of any
condominium unit shall signify that the provisions of this Declaration of
Condominium are accepted and ratified in all respects.
31. BY-LAWS.
Annexed hereto as Exhibit “D” is a true copy of the By-Laws
governing the administration on the Property.
32. INVALIDITY.
The invalidity of any provisions of this Declaration shall not be deemed
to impair or affect in any manner the validity, enforceability or effect of the
remainder of this Declaration and, in such event, all of the other provisions
of this Declaration shall continue in full force and effect as if such an
invalid provision had never been included herein.
33. WAIVER.
No provision contained in this Declaration shall be deemed to have been
abrogated or waived by reason of any failure to enforce the same, irrespective
of the number of violations or breaches which may occur.
34. CAPTIONS.
The captions herein are inserted only as a matter of convenience and for
reference, and in no way define, limit or describe the scope of this
Declaration nor the intent of any provision hereof.
35. NOTICE. Where unit owners have
been notified by certified mail and no response from the unit owners has been
received within twenty (20) days of receipt of said certified mail, the Board
of Directors shall have the power of attorney to vote said share or shares as
they see fit in their own judgment.
36. GENDER. The use of the
masculine gender in this Declaration shall be deemed to refer to the feminine
gender and the use of the singular shall be deemed to refer to the plural, and
vice versa, whenever the text so requires.
IN WITNESS WHEREOF, the Developer
has caused this Declaration to
be executed by its duly authorized
officers and its corporate seal to be hereunder affixed on this 15th
day of July, 1970.
EXHIBIT B
UNIT DESIGNATION AS PER ARTICLE OF DECLARATION
F - Foyer BR
- Bedroom DA
– Dining Area
LR - Living Room K
- Kitchen B
– Bath
BL – Balcony
STAGE I
|
|
Apt.
No. |
Type |
Location |
App.
Enclosed Area in Sq. Ft. |
No.
of Rooms |
|
1. |
1 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
A Ground
floor |
1422 |
9 |
|
2. |
2 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
A Ground
floor |
1422 |
9 |
|
3. |
3 |
2
bedroom apt. (F, LR,
2 BR, K, DA, 3B, 2BL) |
Building
A Ground
floor |
1422 |
9 |
|
4. |
4 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3 B, 2BL) |
Building
A Ground
floor |
1422 |
9 |
|
5. |
5 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
A Upper
floor |
1422 |
9 |
|
6. |
6 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
A Upper
floor |
1422 |
9 |
|
7. |
7 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
A Ground
floor |
1422 |
9 |
|
8. |
8 |
2
bedroom apt. (F, LR,
2BR, K, DA, 2B, RP, 2BL) |
Building
A Upper
floor |
1422 |
9 |
|
9. |
1 |
3
bedroom apt. (F, LR,
3 BR, K, DA, 2B, BL) |
Building
B Ground
Floor |
1422 |
9 |
|
10. |
2 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B, BL) |
Building
B Middle
Floor |
1422 |
9 |
|
11. |
3 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B, BL) |
Building
B Upper
floor |
1422 |
9 |
|
|
Apt
No. |
Type |
Location |
App.
Enclosed Area
in Sq. Ft. |
No.
of Rooms |
|
12 |
1 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
C Ground
floor |
1422 |
9 |
|
13 |
2 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
C Ground floor |
1422 |
9 |
|
14 |
3 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
C Ground
floor |
1422 |
9 |
|
15 |
4 |
2
bedroom apt. (F, LR,
2BR, F, DA, 3B, 2BL) |
Building
C Ground
floor |
1422 |
9 |
|
16 |
5 |
3
bedroom apt. 9F, LR, 3BR,
K, DA, 2B, BL) |
Building
C Upper
floor |
1422 |
9 |
|
17 |
6 |
3
bedroom apt. (F, LR,
3BR, K DA, 2B, BL) |
Building
C Upper
floor |
1422 |
9 |
|
18 |
1 |
2
bedroom apt. (F, LR,
2 BR, K, DA, 3B, 2BL) |
Building
D Ground
Floor |
1422 |
9 |
|
19 |
2 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
D Ground
floor |
1422 |
9 |
|
20 |
3 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
D Ground
floor |
1422 |
9 |
|
21 |
4 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
D Ground floor |
1422 |
9 |
|
22 |
5 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B, BL) |
Building
D Upper
floor |
1422 |
9 |
|
23 |
6 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B, BL) |
Building
D Upper
floor |
1422 |
9 |
|
24 |
1 |
1
bedroom apt. (F, LR, 2BR,
K, DA, 3B, 2BL) |
Building
E Ground
floor |
1422 |
9 |
|
25 |
2 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
E Ground
floor |
1422 |
9 |
|
|
Apt
No. |
Type |
Location |
App.
Enclosed Area in Sq. Ft. |
No.
of Rooms |
|
26 |
3 |
2 bedroom
apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
E Ground
floor |
1422 |
9 |
|
27 |
4 |
2 bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
E Ground
floor |
1422 |
9 |
|
28 |
5 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
E Upper
floor |
1422 |
9 |
|
29 |
6 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
E Upper
floor |
1422 |
9 |
|
30 |
7 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
E Upper
floor |
1422 |
9 |
|
31 |
8 |
2
bedroom apt. (F, LR, 2BR,
K, DA, 3B, 2BL) |
Building
E Upper
floor |
1422 |
9 |
|
32 |
1 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
F Ground
floor |
1422 |
9 |
|
33 |
2 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
F Ground
floor |
1422 |
9 |
|
34 |
3 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
F Ground
floor |
1422 |
9 |
|
35 |
4 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
F Ground
floor |
1422 |
9 |
|
36 |
5 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
F Ground
floor |
1422 |
9 |
|
37 |
6 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
F Ground
floor |
1422 |
9 |
|
38 |
7 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
F Ground
floor |
1422 |
9 |
|
39 |
8 |
2
bedroom apt. (F, LR, 2BR,
K, DA, 3B, 2BL) |
Building
F Ground
floor |
1422 |
9 |
|
|
Apt.
No. |
Type |
Location |
App.
Enclosed Area
in Sq. Ft. |
No.
of Rooms |
|
40 |
9 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
F Ground
floor |
1422 |
9 |
|
41 |
10 |
2 bedroom
apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
F Ground
floor |
1422 |
9 |
|
42 |
11 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B, BL) |
Building
F Upper
floor |
1422 |
9 |
|
43 |
12 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B, BL) |
Building
F Upper
floor |
1422 |
9 |
|
44 |
13 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B, BL) |
Building
F Upper
floor |
1422 |
9 |
|
45 |
14 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B) |
Building
F Upper
floor |
1422 |
9 |
|
46 |
15 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B, BL) |
Building
F Upper
floor |
1422 |
9 |
|
47 |
1 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
G Ground
floor |
1422 |
9 |
|
48 |
2 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
G Ground
floor |
1422 |
9 |
|
49 |
3 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
G Ground
floor |
1422 |
9 |
|
50 |
4 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL, RP) |
Building
G Ground
floor |
1422 |
9 |
|
51 |
5 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
G Ground
floor |
1422 |
9 |
|
52 |
6 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL, RP) |
Building
G Ground
floor |
1422 |
9 |
|
53 |
7 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
G Ground
floor |
1422 |
9 |
|
|
Apt.
No. |
Type |
Location |
App.
Enclosed Area in Sq. Ft. |
No.
of Rooms |
|
54 |
8 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
G Ground
floor |
1422 |
9 |
|
55 |
9 |
2
bedroom apt. (F, LR,
2BR, K, DA, 3B, 2BL) |
Building
G Ground
floor |
1422 |
9 |
|
56 |
10 |
2
bedroom apt. (F, LR,
2BR, K, DA, 2B, 2BL) |
Building
G Upper
floor |
1422 |
9 |
|
57 |
11 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B) |
Building
G Upper
floor |
1422 |
9 |
|
58 |
12 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B) |
Building
G Upper
floor |
1422 |
9 |
|
59 |
13 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B) |
Building
G Upper
floor |
1422 |
9 |
|
60 |
14 |
3
bedroom apt. (F, LR,
3BR, K, DA, 2B) |
Building
G Upper
floor |
1422 |
9 |
|
61 |
15 |
3
bedroom apt (F, LR,
3BR, K, DA, 2B) |
Building
G Upper
floor |
1422 |
9 |
EXHIBIT C
VALUE OF APARTMENTS AND PROPERTY
AND PERCENTAGES IN THE COMMON AREAS AND FACILITIES
The value of
the property and of each apartment, and the percentages of undivided
interest in
the common areas and facilities appertaining to each apartment and its owner
for all
purposes including voting, are as set forth below:
TOTAL VALUE OF
PROPERTY: $3,176,750.00
TOTAL NUMBER
OF UNITS LISTED BELOW: 61
Units
|
|
Building No. |
Apt. No. |
Value |
Undivided Interest |
|
1. |
A |
1 |
$59,500.00 |
1.780 |
|
2. |
A |
2 |
$54,500.00 |
1.585 |
|
3. |
A |
3 |
$59,500.00 |
1.780 |
|
4. |
A |
4 |
$60,000.00 |
1.780 |
|
5. |
A |
5 |
$55,000.00 |
1.585 |
|
6. |
A |
6 |
$60,000.00 |
1.780 |
|
7. |
A |
7 |
$60,000.00 |
1.780 |
|
8. |
A |
8 |
$55,500.00 |
1.585 |
|
9. |
B |
9 |
$55,750.00 |
1.780 |
|
10. |
B |
2 |
$55,750.00 |
1.780 |
|
11. |
B |
2 |
$55,750.00 |
1.780 |
|
12. |
C |
1 |
$49,750.00 |
1.585 |
|
13. |
C |
2 |
$49,750.00 |
1.585 |
|
14. |
C |
3 |
$49,750.00 |
1.585 |
|
|
Building No. |
Apt. No |
Value |
Undivided Interest |
|
15. |
B |
4 |
$49,750.00 |
1.585 |
|
16. |
B |
5 |
$55,750.00 |
1.780 |
|
17. |
B |
6 |
$55,750.00 |
1.780 |
|
18. |
D |
1 |
$49,750.00 |
1.585 |
|
19. |
D |
2 |
$49,750.00 |
1.585 |
|
20. |
D |
3 |
$49,750.00 |
1.585 |
|
21. |
D |
4 |
$49,750.00 |
1.585 |
|
22. |
D |
5 |
$55,750.00 |
1.780 |
|
23. |
D |
6 |
$55,750.00 |
1.780 |
|
24. |
E |
1 |
$49,750.00 |
1.585 |
|
25. |
E |
2 |
$49,750.00 |
1.585 |
|
26. |
E |
3 |
$49,750.00 |
1.585 |
|
27. |
E |
4 |
$49,750.00 |
1.585 |
|
28. |
E |
5 |
$49,750.00 |
1.585 |
|
29. |
E |
6 |
$49,750.00 |
1.585 |
|
30. |
E |
7 |
$49,750.00 |
1.585 |
|
31. |
E |
8 |
$49,750.00 |
1.585 |
|
32. |
F |
1 |
$51,750.00 |
1.585 |
|
33. |
|
2 |
$51,750.00 |
1.585 |
|
34. |
F |
3 |
$51,750.00 |
1.585 |
|
35. |
F |
4 |
$51,750.00 |
1.585 |
|
36. |
F |
5 |
$51,750.00 |
1.585 |
|
|
Building No. |
Apt. No. |
Value |
Undivided
Interest |
|
37. |
F |
6 |
$51,750.00 |
1.585 |
|
38. |
F |
7 |
$51,750.00 |
1.585 |
|
39. |
F |
8 |
$51,750.00 |
1.585 |
|
40. |
F |
9 |