Amendments to this Master Deed Clause Samples

Amendments to this Master Deed. The Grantor expressly reserves for itself, its successors and assigns, for a period of seven (7) years from the date hereof, or until the closing of title of not less one hundred eighty (180) condominium units within the confines of the lands owned by the grantor depicted in Schedule “B” attached hereto, whichever event occurs first, the right to execute on behalf of all contract purchasers, unit owners, mortgagees, other lien holders, and parties claiming any legal or equitable interest in the condominium or in any unit, and amendments to this master deed which it may deem appropriate, including but not limited to: a. Decreasing the number of units in the condominium, increasing the proportionate share of common elements and the percentage share of costs and increasing voting rights proportionately, and decreasing the area of the lands dedicated to the Condominium accordingly. b. Adding units and lands to the area included within the condominium and adjusting the proportionate share of common elements, share of costs and voting rights proportionately. However, the voting right and proportionate share of common elements of the owners of the unit shall always equal a fraction which is equal to one divided by the total number of units contained within the condominium, as is set forth in the master deed or its amendments thereto. The share of costs of the owners of a unit shall be equal to the same fraction as the voting rights aforesaid. Prior to the closing of title of any unit within any building affected, the Grantor may amend the master deed to alter and/or fix the location, configuration, shape and size of any building or buildings, and to alter and/or fix the size, shape, number and configuration of any units within any building. c. Adding to or altering the location, size and/or purpose of easements and lands for utilities, roads, access, egress, drainage, and/or financing purposes. d. To permit the users or occupants of lands owned by or controlled by the Grantor to utilize easements, roads, drainage facilities, utility lines and the like within or servicing the condominium, on fair and equitable terms and conditions to be negotiated with the Overlook Village Condominium Owners’ Association. e. To surrender or modify rights of the Grantor in favor of the unit owners and/or the Overlook Village condominium Owners’ Association, and/or their respective mortgagees. f. Correcting, supplementing and providing technical changes to the Master Deed and any of...