Third Amendment

About

The Third Amendmnet to the Master Deed establishes:

That owners acquiring a unit after the amendment’s recording are prohibited from leasing it, with exceptions for medical or good cause, approved by the Board of Directors. Exemptions apply to heirs, close relatives, or mortgage holders acquiring units through foreclosure.
That the required affirmative votes to amend the Master Deed or By-Laws are reduced from three-fourths (75%) to two-thirds (66 2/3%).
That the Board of Directors’ authorized expenditure limit without Co-Owner approval increases from $2,000 to $5,000 for common facility construction or other projects.