Common elements definition
Examples of Common elements in a sentence
The Cross Sharing Agreement shall also provide that each Lot owner shall pay its designated share of the maintenance and repair of the Common Elements (subject to the obligation of any party to pay in full for negligent use or damage to such Common Elements) and the right to place liens against any property for nonpayment when required.
Seller shall have the right to litigate ad valorem tax matters, impact charges, service fees and interim and/or special assessments concerning the Unit, the Common Elements, or any other portion of the Condominium for prior years and/or the year of closing, and to collect and retain any refunds or other adjustments attributable to the periods prior to the closing.
Buyer acknowledges at or prior to Closing, Seller at Seller’s expense shall record in the public records of Nassau County an agreement for cross easements, access and restrictive covenants (the “Cross Sharing Agreement”), which shall address the use of the Common Elements and payment of maintenance and repair related to the Common Elements.