For the purpose of this Article, the foregoing terms, phrases, and words shall have the meanings assigned to them by this section unless their use in the context of this ordinance clearly demonstrates a different meaning. When not inconsistent with the context, words used in the present tense include the future tense, words used in the plural number include the singular number, words used in the singular number include the plural number, words in the masculine gender include the feminine gender. The word "shall" is always mandatory and not merely directory.
a. Common elements - All portions of the property except the units.
b. Condominium - Real estate formally submitted or subject to the Indiana Horizontal Property Law, as that Act may be amended, and to this ordinance.
c. Condominium instruments - All documents and authorized amendments, including but not limited to, the declaration, by-laws, plats, floor plans, condominium disclosure statement, exhibits or schedules thereto, which the Indiana Horizontal Property Law requires to be filed in the Office of the Lake County Recorder, and which are required to be filed pursuant to the provisions of this ordinance with the Town Building Commissioner.
d. Condominium Unit - An enclosed space consisting of one or more rooms, occupying all or part of a floor or floors in a structure of one (1) or more floors or stories designed for residential use with either a direct exit to a public street or highway or an exit to a public way, together with the undivided interest in the common areas as that phrase is defined by the Indiana Horizontal Property Law.
e. Declarant - Any person who plans to execute or has executed the declaration or on whose behalf the declaration is executed.
f. Declaration - The instrument by which property is submitted for filing in the Office of the Lake County Recorder by the Indiana Horizontal Property Law and this ordinance as hereafter provides.
g. Developer - Any person who has property legally or equitably owned by him subject to the provisions of the Indiana Horizontal Property Law, including any successor to such developer's entire interest in the property.
h. Filing - The complete submission of all documents required by Section 7-102(c) with a stamped date of filing contained thereon.
i. Offering - Any advertisement, publication, or inducement, either written or verbal, by a declarant to promote the purchase of a condominium unit or prospective condominium unit.
j. Multiple-family dwelling - A building containing three (3) or more dwelling units.
k. Person - An individual, firm, corporation, partnership, trust or other legal entity capable of holding title to real estate.
l. Property - All the land, property and space comprising the parcel, all improvements and structures erected, constructed or contained therein or thereon, including the building and all easements, rights and appurtenances belong thereto, and all fixtures and equipment intended for the mutual use, benefit, or enjoyment of the unit owners, submitted to the provisions of this Article.
(Ord. No. 887, § 4, 5-12-82)