HomeMy WebLinkAbout0680 and liens applicable to said real property for the common benefit
and will do all ~nd everything else authorized by law to promote the
general interest of the members of the corporation as are authorized ;
by the State of Florida pertaining to non-profit corporations.
2. Deeds, plats, leases, DecZarations af Covenants and
Restrictions, declarations of condominiums, and/or other conveyances
as to the property described in the Exhibit A attached hereto filed
;
or deeded by Hutchinson Island Limited Partnership, or one or more
of its partners, may provide that purchasers, lessees, or holders of
other interests in real property within t~he property described in
said F~chibit A shall be members of this corporation.
3. The corporation shall accept any deed, lease or other
conveyance of real property to it by Hutchinson Island Limited
Partnership and/or by one or more of its partners when approved by
Hutchinson Island Limited Partnership. ~
ARTICLE III
Powers
A. To operate and manaqe those properties conveyed to it ?
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or not conveyed but accepted for operation and maintenance for the
common good of inembers of the corporation.
~ B. To carry out all the powers and duties vested in the
corporation pursuant to these Articles and the By-Laws of the cor-
poration and in the Declaration of Covenants and Restrictions filed
~ as to the lands referred to above.
~ C. To do all thinqs necessary to carry out the operation
of the corporation as a natural person might or could do and to
exercise and enjoy all the powers, rights and privileges granted to
or conferred upon corporations of similar character by the provisions
of Chapter 617, Florida Statutes.
D. The corporation is not authorized for profit, nor shall
it have the power to issue certificates of stock or pay dividends, and
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~ no part of the net earnings of the corporation shall be distributed,
~ upon dissolution, or otherwise, to any individual. The corporation
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