Unit Owner Clause Samples

Unit Owner. Unit Owner" means each person or entity holding a record ownership interest in a Condominium, including Declarant. "Unit Owner" shall also mean a lessee of an entire Condominium under a long-term lease from the issuer of a Certificate of Participation; provided that such lease assigns all rights as a "Unit Owner" to the lessee; and provided further that in no event shall both the Unit Owner and its lessee under this Section 2.0l(y) have simultaneous membership in the Corporation. Subject to the preceding, "Ownership" shall include membership in the Corporation. "Owner" shall not include persons or entities who hold an interest in a Condominium merely as security for the performance of an obligation.

Unit Owner. The Owner and every title owner thereafter, including (i) any transferee receiving title to or a fee interest in the Unit (a) after having been determined to be, or having represented his or her self as, a Qualified Buyer or (b) based on any representation or intent to own and occupy the Unit as an Owner-Occupied Unit or as such owner’s Primary Residence; and (ii) all subsequent person(s) vested with record title of the Unit according to the records of the County Recorder of Summit County, Utah; however, Unit Owner shall not include a person who holds an interest in the Unit merely as security for the performance of an obligation, and, solely in regards to the restrictions contained in this Covenant, the City shall not be considered a Unit Owner.

Unit Owner. Unit Owner means the residential owner or purchaser of a Unit.

Unit Owner. The portion of insurance proceeds representing damage for which the responsibility of reconstruction and repair lies with the unit owner shall be paid by the Association to the unit owner or if there is a mortgage endorsement, then to the unit owner and the mortgagee jointly, who may use such proceeds as they may be advised.

Unit Owner and Tenant acknowledge that the Condominium reserves the right to withhold from Tenant access to common element amenities and to withhold from the Tenant use of the parking spaces assigned to the unit in the event that Tenant fails to comply with any of the provisions of the Declaration, the Bylaws or the Rules and Regulations.

Unit Owner. The portion of insurance proceeds representing damage, the reconstruction and repair of which is the responsibility of the Unit Owner, shall be paid by the Insurance Trustee to the Unit Owner or, if there is a Mortgagee endorsement, to the Unit Owner and the Mortgagee jointly, who may use such proceeds as they may be advised; provided that, unless the Condominium is terminated as set forth in this Master Deed, the Unit Owner or Mortgagee shall be obligated to use the insurance proceeds to reconstruct or repair the Limited Common Elements appurtenant to such Owner’s Unit to their condition prior to the casualty or loss.

Unit Owner