Individual as Condo-Hotel Owner Sample Clauses

Individual as Condo-Hotel Owner. If an individual is a record owner of legal title to a Condo-Hotel Unit, as defined below (an “Individual Condo-Hotel Owner”), his or her ownership shall also include such Individual Condo-Hotel Owner’s spouse. If a Condo-Hotel Unit is owned by multiple Individual Condo-Hotel Owners, all such individuals must designate in writing to the Hotel Owner and the Condo-Hotel Association which one (1) of the multiple individuals is the primary point of contact for receiving correspondence and making decisions for such Condo-Hotel Unit (“Responsible Individual”). The maximum number of persons permitted to be on the deed as the Condo- Hotel Owner of such Condo-Hotel Unit for purposes of determining the Resort Subsidy Charge (as defined in Section 1.39 herein) applicable to such Condo-Hotel Unit shall not exceed a total of six (6) persons at any time. If the number of persons on the deed including any spouses not named on the deed, exceed six (6) individuals, the Responsible Individual must designate in writing to the Hotel Owner the six (6) individuals to be treated as a Condo-Hotel Owner for purposes of determining the Resort Subsidy Charge applicable to such Condo-Hotel Unit. The designation by an Individual Condo-Hotel Owner under this subsection may not be changed more frequently than once in any twelve (12) month period, regardless of a change in ownership of the Individual Condo-Hotel Owner of such Condo- Hotel Unit.
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