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Buyers: Middle School auditorium meets unique needs

April 5, 2014

Author’s note: This article is the third in a four-part series about the sale of the former school at 15 N. State St. written in a question-and-answer format....

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(3)

middleclassworker

Apr-15-14 1:21 AM

c o n d o m i n i u m s

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middleclassworker

Apr-15-14 1:20 AM

The difference between ******iniums and this building is that if one ******inium owner does not pay his utility bills, the other owners don't lose their utility connections. If one owner doesn't heat their unit, then their busted water pipes do not affect the other units.

I would strongly agree that this be looked into.

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Marktplatz

Apr-14-14 11:40 PM

This is not true at all. There is an agreement that was drawn up by your city attorney spelling out how the shared utilities and uses where to be divided. That is what a lot of the dispute with the mall is over. So to say they are different is ignorant. Co-ownership of two different entities is not common and a structure for disaster. Usually it will be under 1 ownership like a LLC. Within the LLC you have share holders (owners) with organizational agreement on who makes the decisions and buy sell agreements in case of a dispute.

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