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If your CID is made up of only 2 units, this clause does not make a lot of sense (unfortunately a lot of legal documents are "cribbed" - copied from other legal documents drafted for other purposes - in order to save time and money, and are not carefully edited, leaving the documents confusing and with contradictory or unhelpful clauses).
The document does not give a "right of first refusal" (the right of one property owner to buy the other in the event the owner of one unit decides to sell).
What the clause does is give the trustees the right to purchase or lease one of the units, but it can only do this if 75% of the other units approve such a lease or acquisition. This is the part that does not work for your 2 unit HOA
. Your 2 unit HOA would only have 1 unit available for acquisition by the Association
, the Trustees could acquire that 1 unit, but only with the approval of the other unit, and could do so by levying a fee on that remaining unit.
So the HOA can levy one unit to get funds to lease or purchase the other unit.
There is no reason to do this - the owner(s) of the remaining unit can purchase this second unit outright themselves, avoid having the HOA purchase it (and avoid having a lien placed on it by the HOA), the HOA trustees would not be placed in a position of violating their fiduciary duty (trying to purchase the property using HOA funds from the 50% owner), and it would reduce the complications of managing the HOA (HOAs are not designed to be landlords - doing so under the Mass. Common Interest Development Act would be unnecessarily complicated and expensive).
It is more likely than not that this clause was included in your governing documents in error - if you only have 2 units in your CID/HOA, I would speculate that the law firm that drafted your documents (or whoever came up with the governing documents) did so by copying them from another association's documents, and they copied this clause over without review or revision.