DECLARATION OF CONDOMINIUM FOR THE GRAND BELLAGIO ...

omissions of the tenant (as determined in the sole discretion of the Association), ordinary wear
and tear excepted, and to pay any claim for injury or damage to property caused by the negligence
of the tenant. All leases are hereby made subordinate to any lien filed by the Association,
whether prior or subsequent to such lease.
B. Transfers NOT Subject to Approval.
1. Devise, Inheritance or Operation of Law. If any Unit Owner shall acquire his/her
title by devise, inheritance, or operation of law, the same shall not be subject to the approval of
the Association.
2. Family Transfers. A transfer of a Unit to the Unit Owner's spouse, children or
parents, trusts where the beneficiaries are the Unit Owner or the Unit Owner's spouse, children or
parents, or family partnerships where the partners are the Unit Owner or the Unit Owner's spouse,
children or parents shall not be subject to the approval of the Association.
3. Mortgagees. A Unit Owner may freely mortgage or encumber his/her Unit without
the approval of the Association.
4. Developer. Transfers by the Developer.
C. Approvals. The approvals when required for the transfer or leasing of ownership of a Unit
shall be obtained in the following manner:
1. Notice to Association.
(a) Sale. A Unit Owner intending to make a bona fide sale of his/her Unit or any
interest therein shall give the Association notice in writing of such intention, together
with a fee of fifty dollars ($50.00), the name and address of the intended purchaser, and
such other information concerning the intended purchaser as the Association may
reasonably require. Such notice may include a demand by the Unit Owner that the
Association furnish a purchaser if the proposed purchaser is not approved and, if such
demand is made, the notice shall be accompanied by an executed copy of the proposed
contract to sell which contract shall be executed by the purchaser and seller and is to
contain a provision reciting that the contract is subject to the approval of the Association
as provided for in the Declaration of Condominium.
(b) Lease. A Unit Owner intending to lease his/her Unit or any interest therein
shall give to the Association notice, in writing of such intention, together with a fee of
fifty dollars ($50.00), the name and address of the intended lessee, and such other
information concerning the intended lessee as the Association may reasonably require.
The notice shall be accompanied by an executed copy of the proposed lease which lease
shall be executed by the lessor and lessee and is to contain a provision reciting that the
lease is subject to the approval of the Association as provided for in the Declaration of
Condominium.
(c) Failure to Notify. If the notice to the Association herein required is not
given, then at any time after receiving knowledge of the transaction or event transferring
ownership or leasing of a Unit, the Association, at its election and without notice, may
approve or disapprove the transaction or event. If the Association disapproves the
transaction or event, the Association shall proceed as if is had received the required
notice on the date of such disapproval. Additionally, any transfer of title to a Unit not
approved or disapproved by Association within one year from the recordation of the deed
of conveyance shall be deemed approved by the Association, without further act or
without recordation of a Certificate of Approval.
2. Certificate of Approval. Within fifteen (15) days after receipt of notice, the
Association shall either approve or disapprove the proposed transaction. All approvals shall be
evidenced by certificates executed by the President or Secretary of the Association, which
certificates shall be in recordable form, delivered to the seller, and recorded by the seller or the
buyer in the public records of Pinellas County, Florida, except that certificates of approval
relating to a leasehold interest are to be in non-recordable form. If the prospective transferee of a
Unit or an interest therein is a corporation, trust, or other non-personal entity, the approval shall
be conditioned upon the requirement that all persons occupying the Unit be approved by the
Association.
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