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all of which real property shall hereinafter be referred to as "Existing Property".
ARTICLE III
MEMBBRSHIP AND VOTING RIGHTS IN THE ASSOCIATION ~
Section 1. Membership. gvery person or entity wt?o is a record owner of ~
a fee or undivided fee interest in any Lot or Living Unit which is sub~ect by
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covenants of record to assessment by the Association shall be a member of the
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as a security for the performance of an obligation shall not be a member.
Section 2. Voting Rights. Members shall be entitled to one vote for each
Lot or Living Unit in which they hold the interests required for membership by
Section 1 of this Article. When more than one person holds such interest or
intezests in any Lot or Living Unit, all such persons shall be members, and the vote
for such Lot or Living Unit shall be exercised as they among themselves determine,
but in no event shall more than one vote be cast with respect to any such Lot or
Living Unit.
ARTICLE IV
PROPIItTY RIGHTS IN THE COIrII~iON PROPERTIES
Section 1. Members' Easements of Enjoyment. Sub3ect to the provisions of
Section 2, everq Member shall have a right and easement of en~oyment in and to the
Common Properties and such easement shall be appurtenant to and~shall pass with ~
the title to every Lot or Living Unit.
~ Section 4. Extent of Members' Easements. The rights and easements of
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E enjoyment created hereby shall be subject to the following:
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~ (a) The right of the Association to take such steps as are reasonablq
~ necessary to protect the above-described properties against foreclosure; and
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(b) The right of the Association, as provided in its Articles and By-Laws,
to suspend the enjoyment rights of anq Member for any period during ~hich any
assessment remains unpaid, and for any period not to exceed thirty (30) days for
' any infraction of its published rules and regulations; and
(c) The right of the Association to charge reasonable admission and other
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~ fees for the use of the Co~on Properties; and
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~ (d) The right of the Association to dedicate or transfer all or any part of
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~ the Co~on Properties to any public agency, suthority, or utility for such purposes
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and subject to such conditions as may be agreed to by the Members, provided that
no such dedication or transfer or determination as to the purposes or as to the
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