Sale of Units. There shall be no restriction on the sale, conveyance or other transfer of title to any Unit, but any sale, conveyance or other transfer shall be subject to the Act, this Declaration, the Bylaws, and the Rules and Regulations of the Association. Without limiting the generality of the foregoing, the sale of a Unit shall not be subject to any right of first refusal in favor of the Association or any other Unit Owner. In order to maintain proper Association records, at least thirty days prior to any transfer, a transferring Unit Owner shall notify the Executive Board in writing of the name and address of the proposed transferee and the projected date of settlement.
Leasing of Units. Except as expressly provided in this Section, there shall be no restrictions on the leasing of Units. No transient tenants may be accommodated in any Unit, and no Lease shall be for less than a whole Unit, nor for an initial term of less than one (1) year. Each Lease shall be in writing, shall provide the terms of the Lease, and shall be subject in all respects to the provision of the Act, this Declaration, the Bylaws and the Rules and Regulations of the Association, and any failure by the Lessee to comply with the terms of such documents shall be an event of default under the Lease.
The Association shall be a third party beneficiary of such covenants in any Lease and the Executive Board shall have the right to review any Lease upon request and to enforce any Lease. Every Lease of a Unit must be submitted to the Executive Board for review for compliance with the provisions of this Declaration and any Association Rules and Regulations at least fifteen (15) days prior to occupancy of a Unit by a prospective tenant. Within ten (10) days of the execution of a Lease for a Unit, the Unit Owner shall forward a fully executed copy of such Lease to the Executive Board.
A Unit Owner shall not engage in the leasing of a Unit except after having the lessee execute a lease which contains the following provisions: “Lessee hereby agrees to be bound by all terms and conditions contained in the Declaration of Springfield Manor Planned Community, Bylaws and Rules and Regulations of the Association as the same shall apply to the Unit leased hereunder, and agrees to assume all duties and responsibilities and be jointly and severally liable with the Unit Owner for all of the liabilities and for the performance of all of the obligations applicable to the Unit Owners under the Act, the Community documents or otherwise during the term of the Lease.
Lessee further agrees that Lessee shall not sublet or assign this Lease except with the approval and consent of the Lessor. Lessee acknowledges that Lessee has received a copy of the Community Declaration, Bylaws and any Rules and Regulations.” No provision of this section shall applicable to any Unit leased by the Declarant or Builder.