TEL3 Master Deed (7 of 16)
- ...and acknowledged by OWNER and registered in accordance with Section 4 of the Condominium Act, shall constitute an amendment of this Master Deed.
- (b) Prior to completion of the Project, notwithstanding any terms and conditions of any contract to sell over any unit to the contrary, the DECLARANTS reserves the right to amend, revise or revoke this Master Deed's registration with the Registry of Deeds for Quezon City through an instrument duly executed by the DECLARANTS.
PART II
DECLARATION OF RESTRICTIONS
Section 1. Scope and Coverage. This Declaration of Restrictions, as may from time to time be amended, shall embody such restrictions, limitations, covenants, undertakings and conditions as may be required or permitted by the Condominium Act or the Master Deed to be provided herein. Subject to exceptions which may be expressly set forth in the Condominium Act, in the Master Deed or herein. said restrictions, limitations, covenants, undertakings and conditions shall be deemed to run with the land, the condominium building and other improvements making up the Project, shall constitute a lien upon the Project and each unit, and shall inure to the benefit of, and be binding upon all parties owning or holding any Unit or any right or interest therein or in the Project, pursuant to the provisions of the Condominium Act.
Section 2. The Management Body. The Condominium Corporation shall constitute the management body of the Project once the same is formally turned over to the Condominium Corporation by the DECLARANTS. Its power shall be such as may be provided by the Condominium Act, the Master Deed, its Articles of Incorporation and By-Laws, and such applicable provisions of the Corporation Code which are not inconsistent with the Condominium Act. Any such powers may be exercised by or delegated to, such officers or other persons, and in such manner, as the By-Laws may provide. The Condominium Corporation may hire managerial, legal, auditing, accounting, and other professional and technical services in the manner provided in its By-Laws. The Condominium Corporation shall not have the power to conduct an active business for the profit of its members or any of them. For a period of ten (10) years from and after the formal turn-over of the entire residential and commercial units of the Project by DECLARANTS to the Condominium Corporation, the administration and management of the Project shall be assigned or delegated by the Condominium Corporation to a property management corporation to be nominated by DECLARANTS.
Section 3. Maintenance Repairs and Alterations.
- (a) All maintenance of and repairs of any unit (other than maintenance of and repairs to any of the Common Areas contained therein not necessitated by the act or negligence of the owner, tenant or occupant of such unit) shall be made, and at the expense of the owner of such unit. Each unit owner shall be responsible for all damages to any other unit and to the Common Areas resulting from his failure to effect such maintenance and/or repairs. Such unit owner shall also be responsible for promptly reporting to the Condominium Corporation any defect or need for repairs in any of the Common Areas in his unit.
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