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I.and2orde ar~d T~nanta liability, public liability ~nd property damege
inauraACe, xikh limits of $100,Q00/$300,000 for public ltability and
$5,000 property damage, as well as such other insurance as Plana, Inc.
ahall deem advisable and the premiums for all such insurance shall be
paid by Plana, Inc. out vf funde to tt~e credit of Plan Holder in the
Custadian Account. Yn case of loss uader the fire insurance policy
the proceeds of such iasur~ace shall be paid to the Custodi,ea Account
for use bq Plana, Inc. in the reetoration of the house asd furnishings.
14. Ttie PZana ahall terminate on June 30, 1971 unless two~thirde in
numbex of the ownera of the Plaas then in effect shall requeat con-
tinuance for a further period of ten yeare, in Which event they shall
be conCinued for such further period o£ te~ years wfeh the same pro-
viafon for continuance at the t~rmination of such further period for
two edditiona2 five yeare ~eriode upan Like x°equeat fzom two-thixde in
number of the then Plan Holders, provided, ho~+ever, tl~et ga na event
shall any snch extensian be for a periad beyvad June 30, 1991.
15. Each Plan Holder ahall t~ave the option of advising Plan s, Inc.
at leaat eixty {60) dsys before the begirt~ing of the rental year that
{a) it ie his intentioA to ter~?inate the Plaa aud remove his home from
the rental market for all succeediag rental yeara and upon receipt by
Plans, 3~xc. of euch advice~ the provisions of Paragraphe 1,2,3,4,5,6,7,
8,9,12,13,17,18,2Q,21,22~23,24,25,26,27,28,29 and 3I of these T~zms and
Conditions shall aot apply to guch home$, provfded, however, that (i)
thereafter the hoa~e of such Plan Holder may not be rented and (ii) auch
home thereefter ghall be occupied only by the ~lan Holder and membere af
his iamediate family; any Plan Holder Who has given such advice may
reinst~te the Plan at any ~ime up to 60 days before the beginning of
any ~ucceeding rental year an+d for such eucceeding sental year end
thereafter all of the £oregoi~g provieions of ~aragraphe 1,2,3,4,5,6,
! 7,8,9,12~13~17~18~20~21i22~23~24y25~26~27~28~29 St?d 31 shsll agaiu
~ apply unleaa ansi until again the Plan Holder then cr~raing such home
again terminates the Plan and removea suci~ home from the rental
~ merket~ or it ia his ic~tentioa to finally terminate the Plan and
~ upon rec~ipt by Plaas, Inc. of suah advice ~ommeneiag on the first day ~
` of aucFe succeeding rental year the Plan shall tern~inate as to his t?ome
except that Paragxaphs 11, 19, 27 end 30 shall coatinue to apply vntil
all Plana are termiuated.
16. ~After 3aauary 2, I963 in the event that the Plans have been
terminated pureuant to Pa~cagraph 15 vith respect to fifty (S0~) p~rce~xt
or m~re af the nucaber of hamee then er~rted in the Port St. Lucie
Couatry Club, Plau~s, Inc, s'~ali have the dptioa of ternaiaatiing ell
Plana by giving aatice to al~. Plan Holdera and upon g~ving o€ such
notice a11 af the terms au?d cg~ditians hereof shall be deea?ad terminateci.
17. Plec~s, Inc. shall have the right to caamingle the funds of any
Plan Holder on deposit in the CuatAdian Accaunt ~sith thase of other Plea
Haldera. It ehall alao have the right to es~loy agent8 gnd indep~nde~st
coatractora.
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