SECTION 1. Definitions

As used in this chapter, the following words shall, unless the context otherwise requires, have the following meanings:—

''Building'', any building containing one or more units comprising a part of the condominium.

''By-laws'', the by-laws of the organization of unit owners.

''Common areas and facilities'' shall, except as otherwise provided or stipulated in the master deed, mean and include:—

(1) The foundations, columns, girders, beams, supports, party walls, common walls, main walls, roofs, halls, corridors, lobbies, public stairs and stairways, fire escapes and entrances and exits of the building;

(2) Installations of central services such as power, light, gas, hot and cold water, heating, refrigeration, air conditioning and incinerating;

(3) The elevators, tanks, pumps, motors, fans, compressors, ducts, and in general all apparatus and installations existing for common use;

(4) The land on which the building is located, or the lessee's interest in any lease of such land which is submitted to the provisions of this chapter;

(5) The basements, yards, lawns, gardens, recreational facilities, parking areas and storage spaces;

(6) The premises for the lodging of custodian or persons in charge of the condominium;

(7) Such community and commercial facilities as may be provided for in the master deed as being owned in common.

(8) All other parts of the condominium necessary or convenient to its existence, maintenance and safety, or normally in common use.

''Common expenses'', the expenses of administration, maintenance, repair or replacement of the common areas and facilities, and expenses declared common expenses by this chapter.

''Common funds'', all funds held by the organization of unit owners.

''Common profits'', the balance of all income, rents, profits and revenues from the common areas and facilities remaining after the deduction of the common expenses.

''Condominium'', the land or the lessee's interest in any lease of such land which is submitted to the provisions of this chapter, the building or buildings, all other improvements and structures thereon, and all easements, rights and appurtenances belonging thereto, which have been submitted to the provisions of this chapter.

''Declarant'', the person or any other entity and its successors or assigns who submits land or the lessee's interest in any lease in land to this chapter pursuant to section two hereof.

''Leasehold condominium'', a condominium created by the submission of a lessee's interest in a lease pursuant to this chapter.

''Limited common areas and facilities'', a portion of the common areas and facilities either (i) described in the master deed or (ii) granted or assigned in accordance with the provisions of this chapter by the governing body of the organization of unit owners, for the exclusive use of one or more but fewer than all of the units.

''Manager'', the managing agent, the trustees in a self-managed condominium, or any other person or entity who performs or renders management or administrative services to the organization of unit owners, including but not limited to preparation of budgets and other financial documents; the collecting, controlling, disbursing, accounting or custody of common funds; obtaining insurance; conducting meetings of the organization of unit owners; arranging for and coordinating maintenance and repair; or otherwise overseeing the day to day operations of the condominium for the organization of unit owners.

''Master deed'', the instrument by which the condominium is submitted to the provisions of this chapter, as hereinafter provided, and any amendment to said instrument.

''Organization of unit owners'', the corporation, trust or association owned by the unit owners and used by them to manage and regulate the condominium.

''Replacement reserve fund'', a separate and segregated portion of the common funds of the organization of unit owners which shall be used to replace, restore, or rebuild common areas and facilities.

Any given ''percentage of unit owners'' means the owners of that percentage in the aggregate in interest of the undivided ownership of the common areas and facilities.

''Unit'', a part of the condominium including one or more rooms, with appurtenant areas such as balconies, terraces and storage lockers if any are stipulated in the master deed as being owned by the unit owner, occupying one or more floors or a part or parts thereof, including the enclosed space therein, intended for any type of use, and with a direct exit to a street or way or to a common area leading to a street or way.

''Unit designation'', the number, letter or combination thereof designating the unit in the master deed.

''Unit owner'', the person or other entity owning a unit, including the declarant.