HomeMy WebLinkAbout0698 of inembership shall c~onstitute a quon,an for any action governeci by the Articles
of Inoorporatian ar by the Bylaws of this Co~oration.
11RTICLE N
PF~JPEE~I'Y RIGEfI'S IN R4~ OO~N P%ai'ERTI~
Section 1. Members' Ea.sements of D~joyment. S~.ibject t~o the provi-
sions of Section 3, evezy Me~rber subject to assessments as provided in Article V,
Sectirn 4 hereof, shall hav~e a right and easeloent of enjoyment in and to the
~ Prvperties and such ease.ment shall be appurtenant to and shall pass with
the title to ev~exy Lot or Living Unit. ~
Sectian 2. Title to Qamnn Properties. ~e Develaper may retain -
the legal title t~o the Camm~ Properties until such time as ii: has conpleted
inprov~nents th~xeon and tmtil such time as, in the opinion of the Dev~eloper,
the Association is able to maintain the same, but, notwithstanding any pravi-
sions herein, the Developer hereby vo~venants, for itself, its si~oessors and
assigns that it shall oonvey the Oc~cron Properties to the Association not later }
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than the date on which owltrol of the Associatio~n is turned over to the Class ~~A~~ ~
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M~rs as pmvided in Article III, Sectian 2 hereof, free and clear of all liens ~
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and enc~unbranoes, exo~pt real PropertY taxes for the y~ear in which the oonvey- =
anoe takes plaoe and any ease~nents grant~ed by the Developer pursuant to Sectio~n 6
of this Article. '
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Section 3. Use of C.arnr.xi Properties for Drainage. The Cammn PropPx- '
! ties may be LLSed far drainage and the t-~~oraxy ret~entian of st~m water run-off
~ fran the Praperties and other oontiguou.s PropertY, as well as for c~peti space,
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' recxeation, and other relat~ed activities. No structure, planting or other
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~ ~ material shall be plaoed or pernii.tt~ed t~o reinain i.n the Cam~n .Properties which
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~ mic~t i~air or interfere with the drainage or t~~orary retentian of storm :
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~ter run-off of The Properties or other oantiguous PropertY• '
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~ Section 4. bct~ent of Members' Easesrents. The rights and easerents ;
~ of enjoymerit created here.by shall be subject to the follvwing: ~
~ (a) the right of the Dev~eloper and of the Assflciation, in f
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¢ aooordanoe with its Articles and Bylaws, tA borraw moc~ey for the purpose of
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i~raving the Gaam~n Pro~perties and in aid thereof to mortgage said p~roperties.
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~ In the event of a default upon any such mortgage, the lenders' right hereimder
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~ shall be limited to a right, after taking possession of such praperties, to - }
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~ charge admission and other fees as a oondition to oontinued enjoyirel'it 1~y tl~ }
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~ members and, if nevessary, to oPeT~ the enjoyment of suc~ proPerties to a wider ~
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