HH. Leasing. No Residential Unit shall be leased for a duration of less than seven (7) Months, expect by the Master Association, a Neighborhood Association or Institutional Lender holding a first mortgagee who acquire title as result of its foreclosure action or a deed in lieu of foreclosure.
Any third party purchaser at an Institutional Lender’s. Master Association’s or Neighborhood Association’s foreclosure sale who obtains ownership of a Residential Unit as result of a Certificate of Title issued at mortgage foreclosure, Master Association foreclosure or Neighborhood Association foreclosure sale, or subsequent transferee(s), may not lease the Residential Unit for seven (7) months from the date of the foreclosures sale.
For the purposes of this subsection “lease” or “leasing” shall be defined as occupancy of a Residential Unit by a person who does not have a permanent residence elsewhere while the Owner resides elsewhere, or occupancy of the Residential Unit by a person who is residing in the Residential Unit in exchange for consideration.
This subsection of the Declaration regarding leasing shall not apply to Commercial Property, the Vinings and Units in the Highlands at Hunter’s Green Condominium.