Laserfiche WebLink
- 24 - <br /> <br />insurance carrier, the proceeds of the policies covering the <br />damage. <br /> <br /> Section 7.5 Election not to Reconstruct. Notwithstanding <br />anything to the contrary in Article VII, in the event that a <br />contract for reconstruction is not entered into within sixty.(60) <br />days of the receipt and deposit of the insurance proceeds with <br />the title insurance company, the Owners may, pursuant to the <br />procedures and voting requirements necessary to amend this <br />Declaration, elect not to reconstruct the Common Property <br />improvements, or to reconstruct only certain portions of the <br />Common Property, and to disburse the proceeds, of any insurance, <br />or the excess portion thereof, to the Association. <br /> <br /> Section 7.6 Condemnation and Eminent Domain. In the event of <br />a taking of any part of the Common Property by condemnation or <br />eminent domain, the following provisions shall govern: <br /> <br /> a. In the event that the initial award or settlement made <br /> by the authority prosecuting the condemnation or eminent <br /> domain proceeding is in excess of $10,000, the <br /> obligation to reconstruct and restore shall be <br /> determined pursuant to the provisions of Section 7.3 <br /> through 7.5. <br /> <br /> b. In any case where a decision to reconstruct is made, the <br /> procedures for the receipt, escrow and disbursments of <br /> funds, and other matters relating to such reconstruction <br /> shall be determined under this Article VII and shall be <br /> substantially similar to a case involving damage or <br /> destruction. <br /> <br /> ARTICLE IX <br /> <br /> ARCHITECTURAL CONTROL <br />Section 9.1 Restrictions on Alterations. <br /> <br /> From and after the <br />sale of the first Lot, no structure or building of any kind shall <br />be commenced, erected or maintained upon such Lot, unless and <br /> <br /> <br />