Thanks to global warming, hurricanes, floods, fires, and other natural disasters are on the rise. 3. Such different policies as may be required by the condominium instruments, including, without limitation, staff’ compensation insurance coverage, legal responsibility insurance on motor vehicles owned by the unit house owners’ affiliation, and specialised insurance policies overlaying lands or enhancements by which the unit homeowners’ association has or shares ownership or other rights.
B. Except expressly prohibited by the condominium devices, a restricted frequent element could also be reassigned or converted to a typical factor upon written software of the unit homeowners involved to the principal officer of the unit house owners’ association, or to such different officer or officers because the condominium instruments may specify.
“Capital elements” means those items, whether or not or not part of the frequent components, for which the unit homeowners’ affiliation has the duty for restore, substitute or restoration and for which the executive organ determines funding is necessary.
three. If a transferor retains any special declarant rights, however transfers other special declarant rights to a successor who just isn’t an affiliate of the declarant, the transferor shall even be chargeable for all obligations and liabilities relating to the retained particular declarant rights and imposed on a declarant by this chapter or by the condominium devices.
Such modification shall be recorded by the declarant or his agent, without charge to any unit owner, or by an officer of the unit homeowners’ affiliation or his agent following fee by the unit owner or unit house owners of the unit or units concerned of all reasonable prices for the preparation, acknowledgment and recordation thereof.