Condo Documents: Article 16 | Atlantic Palace Condominium Association

R. 2-16-87

MASTER DEED CREATING AND ESTABLISHING

THE ATLANTIC PALACE, A CONDOMINIUM

THIS MASTER DEED, made this 19^th day of February, 1987, by RESORT DEVELOPMENT CORPORATION, a Delaware Corporation(Developer), with offices at P.O. Box 11496, Columbia, South Carolina, 29211, and with local offices at 2727 Boardwalk at Iowa, Atlantic City, New Jersey, 08401.

W I T N E S S E T H:

WHEREAS, Developer is the owner in fee simple of all that certain lot, tract and parcel of land situated, lying and being in the City of Atlantic City, County of Atlantic and State of New Jersey,bounded and described in Exhibit A attached hereto and made a parthereof by this reference thereto (hereinafter, the Propertyä); and

WHEREAS, Developer intends to establish and create a condominium form of ownership of the Property, together with improvements to be constructed, in accord and with and subject to the Condominium Act, R.S. 46:8B-1, et seq. (hereinafter, the Condominium Act), under the name of The Atlantic Palace, a Condominium (hereinafter The Condominium);

NOW, THEREFORE, Developer does hereby submit the Property to the provisions of the Condominium Act, and hereby publishes its plan for the division of the Submitted Property and the imposition of conditions, restrictions, reservation, thereof, and Developer hereby specifies that his Declaration of Condominium and the declarations herein shall constitute convenants, conditions, reservations, and restrictions which shall run with the Submitted Property and shall bind and inure to the benefit of the Developer, its successors and assigns and all subsequent owners of any interests in the Submitted Property, their grantees, successors,
heirs, executors, administrators, legatees and/or assigns.

ARTICLE XVI

Miscellaneous Provisions

1. CAPTIONS: Captions used in the Master Deed are inserted solely as a matter of convenience and shall not be relied upon or used in construing the effect or meaning of any of the text of the Condominium Documents.

2. COVENANTS RUNNING WITH LAND: All provisions of the Master Deed, By-Laws and Articles of Incorporation shall be construed to be covenants running with the land and with every part thereof and interest therein including but not limited to every Unit and appurtenances and Common Elements thereto.Ê Every Unit Owner and claimant of Property or any part thereof or interest therein and his heirs, executors, administrators, successors and assigns shall be bound by all the provisions of the Master Deed, By-laws and Article of Incorporation.

3. UNIT TRANSFERS: Any transfer of a Unit shall include all appurtenances thereto whether or not specifically described.

4. SEVERABILITY: The invalidity of any provision of this Master Deed, the Articles of Incorporation or By-Laws of the Association shall not be deemed to impair or affect in any manner the validity, enforceability or effect of the remainder of this Master Deed, Article of Incorporation, or said By-Laws which shall continue in full force and as if such invalid provision had never been included therein.

5. WAIVER: No provision contained in this Master Deed shall be deemed to have been abrogated or waived by reason of any failure to enforce the same, irrespective of the number of violations or breaches that may occur.

6. CONFLICT: Anything to the contrary herein notwithstanding, if any provision of this instrument is in conflict with or in contradiction of the final plans of the Condominium Property, then the latter shall be deemed controlling.

7. GENDER: The use of the masculine gender in this Master Deed shall be deemed to refer to the feminine gender and the use of the singular shall be deemed to refer to the plural, and vice-versa, whenever the context so requires.

8. BINDING EFFECT: This Master Deed shall bind and inure to the benefit of the Developer, its successors or assigns.

9. EXHIBITS: Attached hereto and made a part hereof are the following Exhibits:

Exhibit A – Legal Description of the Property

Exhibit B – Survey

Exhibit C – Graphic Description of the Condominium

Exhibit D – Unit Percentage Interests

Exhibit E – By-Laws

Exhibit F – Articles of Incorporation

Exhibit G – Floor Area of Units

IN WITNESS WHEREOF, the Developer has caused this Master Deed to be executed the day and year first above written.

ATTEST
RESORT DEVELOPMENT CORPORATION
A Corporation of the State of Delaware

By: By:

Assistant Secretary Vice President

STATE OF South Carolina COUNTY OF RICHLAND

I CERTIFY THAT ON February 19, 1987 H. B. Munn Jr. personally came before me and this person acknowledged under oath, to my satisfaction, that:

(a) this person signed, sealed and delivered the attached document as Vice President of Resort Development Corporation, the corporation named in this document;

(b) the proper corporate seal was affixed; and

(c) this document was signed and made by the corporation as its voluntary act and deed by virtue of the authority from its Board of Directors.

Notary Public for South Carolina

My Commission

Expires: 9/11/94

TABLE OF CONTENTS

EXHIBITS

Miscellaneous Provisions