HomeMy WebLinkAbout2238 ` To nor or h~s~ait~r scquir~ and •nt~r iAto i~as~s
and • r~~~ents oi ~~~tr n~tut~. ~b~t~br tb~ Cor-
por~s~on acquires leas~bold~, ~~~b~tships aod
ot1Ni poss~isos~? ot us• 1At~r~sts in laads os .
~~eilitie~~ intludlnQ recrsational and coawnal
iacilities. whether or not conti~uon~ to l~nds
of !h• CONDO~INIU~, to provide en~oy~ent. Yecr~-
- ation~ or oth~s use or benefft to the o~mers of
PRIVAT~ ~~FLLIVGS, a!1 ss oay be de~med by th•
doard of ulr~ctors to be !n the best ~nt~rssts :
af the Corporation. ~
(g) Ta exercise, undertake and accooplish all ot ths
rights, dutfe~ snd oblirations yhich ~ay D•
~rantea ar i~posed upon the Cor~oration pur~ua~nt
~ to the ~eclaration of Condo~iniu~ afor~~~ntion~d.
IV.
"~'Re quali~icati~n o! the me~bars~ t~e ~anner of their ads~is-
sioa to ~eeb~rs~ip snd ter~ination ot such ~e~bership. •nd votinA ;
t
by ~embeYS shnll be as fol2ors: ~ ~
2. The o~+ners of all PP.IYATE DNELLIv~S i*~ the CONDO~INIU!~i =
f
shall b~ nesbets of the ~or~oration, ana no other persons or
~
entiti~s sAall be entitled to me~+bers~ir, e~ccpt us provided in ?
Iten~ (S) of ARTICLE IV.
t
Z. '~~erabers2iip shall 5e e~tahllshoJ by t~e acquisition of
fee title to a~RIV,"fr t?WCLLIN~ in the C~3:tn0~+IVIUf~ er by a~quiai-
tion of a fse oKnarshi;~ interest ther~in, ahether by conveyanre,
devise, juditial decree or otherhrige, and t1~c r~p^~~ershi~ of any
.
~ party shall be autor~atically ter:ninutect uport i~I s beiug divested
~ 4f ail titlo or to his ontirs Foa o~~ers}tin i~~^rest in any P~I~'A'"^
~ ~
~ D~LLI~iG, except that nothi~g Arrein eontzinc~t shall he e~nsLrued =
t
, ~
~ as tetminatinfi the me;~bership of anr party who mar own tM~ or
~
~ nas• PRIVATE DMF,LLINGS, or aho ~+ay oxn 3 fcP o~+ntrship interest '
~ in t~?o or sore PRIVATr '~~1?LI.INGS, so lonQ 3s s~ich p~rty shall _
~ ;
~ retain title to or a feu awnsrship inteYest in any PRt~'ATP niltiLLI'~G. ~
~ t
~ 3. The interast of a~eaber in the.fun~!~ and assets of the
~ Corporation cannot be assi~ned, bypotheceted or trnnsfcrrec~ in
~ ~ -
any manner, except as an appurtenancc to his PRIYATB U1~ELLIyG. s
The fund~ and •sseta of the Corparation shsll belong solely to the ~
~ ~
~ Corpor~tioa subject to the li~eitation that the sar~e be expended, ;
a
c~°+F'v
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~ ~ s 9. z Z. z ~a~ ~~0 2234
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~ Sp1ELVOGBL. GOLDMAN AND CARUSO, P. A. • ATTOANEYS AT LAW - MERRITT 1SLAND. FLORIDA
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