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notion by the Original ,Seller; l~ffective upon the filing of ~e notice of Mall assignment ~ .
<br />with the Association, the identified Mall shall, by operation of this Section 3,3, be
<br />deemed to be licensed by the Association, as of the date set forth in the notice, to tha
<br />Owner of the Unit designated in the ~atice, A certificate evidencing the Stall license
<br />shall ,be executed 'by the President or Secretary of ~e As~sociati~on on behalf of the
<br />Association and made available far~tim.ely delivery to the Owner ofthe Unit to which the
<br />license Is ~551gT1~d, .Any Stalls remaining unlicensed aver all Units have been initially,
<br />voluntarily conveyed may be reserved for handicapped parl~ing or assigned to the
<br />Association, The Association may hold, convey and transfer the license to, rent, ar .
<br />permit invitee or handicapped parl~ng within. a Stall assigned to it,.
<br />3,3,2, Upon snd fgllewing the initial licensing of a ~Sta11, ,the use rights with
<br />respect to the Stall shall be deemed to be perpetually licensed by the AssQCiatian
<br />exclusively to the Owner of the~Unit to which the Stall is assigned, subject to the
<br />.. proviaians of Section 3.3.3, The Association shall maintain records identifying the Stalls, . '
<br />the names of the Owners of the Units to which they are licensed and the dates of
<br />assignment and any transfer of the license in accordance with the terms of this Section.. ~ .
<br />The Association shall not unilaterally transfer any Stahl license, except that the Iic~nse .to
<br />a Stall designed and .tended to accotnmodate use by handicapped Owners '
<br />~"landicapped Stab"} may be transferred by the Association to a Unit occupied by a
<br />handicapped Owner ifthe Owner of the Unit to which sltch Handicapped Stall xs licensed
<br />is not handicapped and the Association transfers a Stall license to such Owner to replace
<br />the Handicapped Stall being transferred .All other transfers of Mall licenses shall be
<br />made only in accordance with Section 3.3,3, .
<br />3,3,3. A Stall license shall remain with the Owner and the Unit to which it is '
<br />assigned until ~e license is transfe~~ed in accaxdan.ce with this S~ctian, Subject to
<br />,Section 3~3,Z, a Stall license may be transferred., but only by fn.~st delivering to the ~ .
<br />..~....~.~ ~ . .A.ssociation~~i}~a~~vritten~transfer'certificate, in farm approved by'the Association, signed ' ~.. ~ ~.~~....-.
<br />' by the transferor and transferee, and ~ii~ all prior license ce~ificates, and copies thereof, ~ ~'~,
<br />issued with respect to the Stall, 'fhe Association shall review the propasec~ transfer ~ ~,
<br />certificate for ca~npliance with this Section 3,3, and if the t~~ansfar complies, the ~
<br />Association shall transfer the license on its records to the 'knit awned by the transferee,
<br />~n the absence of ~a properly- executed. transfer certi~catc to the contrary, a Stall 1ic~nse
<br />assigned to the Owner of a Unit at ,the time of the Unit's conveyance shall he ~ ~
<br />autan~atically transferred to the new O~umer with the conveyance oftitle to the UnYt, ~ ~
<br />~~ j
<br />3.3,x, Owners may rent or allow the ~~se of their licensed Stall to ar by other
<br />Owners and Occupants, except as limited by the Board. in writing, The Tease or other use
<br />~.ght s~rall be in written form, anal shall terminate when the lesson, lessee or other user is
<br />no longer an Owner ar Occupant, regardless of the terms of any agreement to the
<br />.
<br />contrary, The Owner shall give the Association advance written notice of any lease or ~
<br />. use agreement with respect to such Own.er's Stall, and shall provide a copy of ~e lease ar
<br />use agreement to the .Assaoiation,upan its request The Association nay hold, convey ~ ~
<br />and transfer the license to, rent, ar permit guest or handicap pa~rlCing within a Stall .
<br />assigned to it, ~ ~ !
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<br />' MILS-W~rd 202180,3 ~
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