10-08-1980 Council Agenda - Laserfiche WebLink

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more other persons, or through one or more subsidiaries, owns, controls, holds with power to vote, or holds proxies representing more than 20 percent of the voting interests of the person, or (iii) controls in any manner the election of a majority of the directors of the person, or (iv) has contributed more than 20 percent of the capital of the person. 5. "Person" - A natural person, corporation, partnership, trust, or other entity, or any combination thereof. 6. "Purchaser" - Any person, other than a declarant, who by means of a voluntary transfer acquires a legal or equitable interest in a unit, other than (i) a leasehold interest (including renewal options) of less than three years, or (ii) as security for an obligation. 7. "Security for an obligation" - The vendor's interest in a contract for deed, mortgagee's interest in a mortgage, purchaser's interest under a sheriff's certificate of sale, or the holder's interest in a lien. 8. "Unit" - A portion of the condominium whether or not contained solely or partially within a building designated for separate ownership. 2701.020. APPLICATION OF ORDINANCE FOR CONVERSION OF CONDOMINIUMS. This Ordinance shall apply only to conversion condominiums for which the declaration creating a condominium under lnnesota Statutes has been recorded on or after the effective date of this Ordinance. 2701.030. NOTICE TO CITY CLERK AND PLANNING COMMISSION. On the date of giving of the first notice of a conversion as provided in Section 2701.040 hereof, the declarant shall send by U.S. Mail to the City Clerk and Planning Commission written notice of conversion, which states the fact of conversion or the intent to convert. 2701.040. NOTICE TO OCCUPANTS. A declarant of a conversion condominium which has been created or is intended to be created shall give the occupants of the building notice of conversion which states the fact of conversion or the intent to convert at least 120 days, or in the case of a unit with an occupant on the date of delivery of this notice who is 65 years of age or older, under the age of 18, or who is legally handicapped as defined under Minnesota Statutes 180 days, before the declarant will require such parties to vacate. The notice shall be delivered once with respect to each unit and shall have attached thereto a copy of this Chapter 2701 and a form of purchase agreement setting forth the terms of sale contemplated by Section 2701.050 hereof. No occupant may be required by the declarant to vacate during said 120 or 180 day period, except by reason of non- payment of rent, waste, or unlawful conduct, or violation of any other term or condition of his lease other than'the expiration, and the terms-of the tenancy may not be altered during that period. Failure of a declarant to give notice as required by this Section constitutes a.defense to an action for possession. After notice of conversion has been given to any unit, the declarant shall thereafter notify any new tenant who leases any unit in the building from the declarant that the building is or is to become part of a condominium. 1) J i ..