HomeMy WebLinkAbout0092 I. Common Surplus means the excess of all receipts of the Association, including but not
limited to assessments, rents. profits, and revenues on account of the common elements. over
the amount of connmon expenses .
J. Share means the percentage interest each apartment o~~ner has in the common elements.
common expense and common surplus.
K, Voring Rights shall mean those rights of a member of the Associatian to vote upon the
matters presented at properly called and consrituted meetings of the Association, the voting ~
rights for each apartment owner being set forth in Exhibit C.
L. Assessment means a share of the funds required for the payment of comman expenses
v~~hich, from rime to time, is assessed against the apartment and apartment owner .
M. Special Assessment means a share of the funds required for the payment of Eommon
; P:cpenses, which are unbudgeted or for which insufficient provision is made in the budget,
~ occasioned by unforeseeable and fortuitous events~ which, from rime to rime is assessed
~ a gainst the apartment and apartment owner .
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~ N. Atlantis means the three condominiums to be created and the land surroundin g them ,
2 including the recreational facilities, roadv~~ays, parking areas and open space.
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; ARTICLE III
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~ DEDICATION OF RECREATIONAL
; AND COMMON USE PROPERTIES
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; A. The Developer shall construct certain improvements upon the recreational and common
~ use properties which shall, among other things, consist of gardens, landscaping, automobile
parking areas, swimming pools, tennis courts, and other facilities located substanrially as
~ shown on the drawing attached hereto as Exhibit A.
B. The common use property, which shall include streets, walkways and parking areas
:or guests, which are available for the purpose of pedestrian and vehicular ingress and egress
~ across and upon the common use property is described in Exhibit A attached hereto and made
a part hereof. The Develaper further declares and covenants that said recrearional and com-
~ mon use properties shall at all rimes be open, remain open, not built on and useable by the fee
~ owners and their guests and employees of condominium dwelling units in the several condo-
- miniums known as ATLANTIS CONDOMINIiJM APARTMENTS . The Developer further declares
that this covenant shall run with the land and_ shall be enforceable by the County of St. Lucie,
~ Florida.
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C. Each dwelling unit owner of dwelling units in each of the condominiums to be known
as P.TLANTIS CONDOMItiNM APARTMENTS shall have equal rights to possession and use of
the recreational and common use properties. The assessment for said facilities shall include,
~ without limitation , maintenance , taxes and insurance, and shall be char~ed to the dwelling
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