Good info here, but wanted to add if your building is on higher ground, research the process for a LOMA, letter of map amendment, that may change your status.  

Declaration of Covenants, Conditions and Restrictions (CC&R’s) aka Declarations, or Master Deed.Signed Bylaws for HOAArticles of Incorporation for HOAManagement Agreement (unless self managed)HOA BudgetCurrent Financial Statements (Income Statement & Balance Sheet)Minutes of last 2 HOA MeetingsRecorded Amendments for annexationPlat Map and/or Air Lot Survey Condominium PlansThe process is about 90 days but I think they have a rush fee for about $1000.  

Owner can amend the plan as they go. 

Jim - if you're ever in a pinch, another solution is to form an entity using a simple form LLC agreement for closing and at a later date amend it as the owners require.

Never too late operating agreements are amended all the time but are created at inception of the LLC

Therefore, an amendment to the plat would need to be recorded.

Company B says they wont help us get an amendment because they also want to sell this entire dead complex and dont want to lift a finger when they dont have to.

hey BP community, so I am working on getting my first deal under contract. I have a buyer interested and I have the seller interested in selling but she wants 60 to 90 days to close. and she wants to find a new place ...

You and your partner would both sign any contracts to sell, amendments, and closing documents upon the sale, unless otherwise agreed to. 

For instance, the bank I posted about says this in their 10-K:Loan Portfolio We have a loan policy in place that is amended and approved from time to time as needed to reflect current economic conditions and product offerings in our markets.