HomeMy WebLinkAbout2454 ARTICLB IY
PROPERTY RIGHTS IN THB OOI~Q~iON PROPERTIES •
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Section 1. Members' Easements of'Enjoyment. Subject to the provisions of
Section 3, every Member st~all have a right and easement of enjoyment in and to the
Common Properties and such easement shall be appurtenant to and shall pass vith
the Citle to every Lot or Living Unit.
Section 2. Title to Comnnon Properties. The Developer maq retain the legal ;
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title to the Co~?on Properties until such time as it has completed improvements '
thereon and until such time as, in the opinioa of the Developer, the Association
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is able to maintain the same, but, notwithstanding any provision herein, the Devel-
oper hereby covenants, for itself, its heirs and assigns that it shall convey the
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Comanon Properties to the Association not later than January 1, 1988, free and clear ~
of all liens and encumbrances, except real propeZty taxes for the year in Which
e ance takes lace and an easement ranted by the Developer pursuant to ~
the conv y p Y 8
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Section 6 of this Article. ~ . "
Section 3. Use of Co~non Properties for Drainage. The Common Properties
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may be used for drainage and the temporary retention of storm water run-off from
1he Properties and other contiguous property, as well as for open space, recreation,
and other related activities. No structure, planting or other material shall be
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~ placed or permitted to remain in the Common Properties which might impair or inter-
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~ ' fere with the drainage or temporary retention of storm Water run-off of Ttie Pro-
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~ perties or other contiguous property. '
Section 4. Extent of Members' Easements. The rights and easements of
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~ - en~oyment created hereby shall be subject to the following: ~
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(a) the right of the Developer and of the Association, in accordance
R with its Articles and Bylaws, to borrow money for Lhe purpose of improving the
~ Common Propertics and in aid thereof to mortgage said properties. In the event ~
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~ of a default upon any such mortgage, the lenders' rights hereunder shall be limited
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~ to a right, after takfng possession of such properCies, to charge admission and
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:t other fees as a condition to continued en~oyment by the members and, if necessary, ~
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~ to open the en~oyment of such properties to a wider public until the mortgage debt
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~ S,'i±~S~;~~ Si::C.~:;~v:. ~~:2 Yv~Bc~SiOi~ Gi SuCti pI'U~1~LL1@S S[181i D@ returned t0
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~ the Association and all rights of the Members hexeunder shall be fully restored;
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(b) the right of the A.~;sociation to take such steps as are reasonably
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~ necessary to prot-~ct the abave-described properties against fore~losure; and
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