HomeMy WebLinkAbout0145 of inembership shall oonstitut~e a quorum for any action gov~erned by the Articles
of Inoorporation or by the B3ylaws of this Corporatian.
AErTICLE It7.
PI~JPER'i'Y RIC~~I'S IN ZIiE OC~M~J PI~'ERTIES
Section 1. Me~~bers' Easements of^E~njoyn~nt. Subject to the provi.- S
sion~ of Section 3, ev~ery Me~~er subject t~o assessrents as provided in Article V
Sectirn 4 hereof, shall hav~e a riqht and easement of enjoyment in and to the
Ccnm;:~ Pr+operties and such easemer?t shall be appurt,enant to and shall pass with }
the title t~o ev~ery Iot or Living [fiit.
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Section 2. Title to CaRmon Praperties. The Developer may retain the
legal title to the UaYmon Properties wztil such time as it has oa~leted inprove-
me~ts thereoai and imtil such time as, in the opiniom of ~the Develc~r, the
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Associatian is able t~o maintain the s~me, but, notwithstanding any provisions ;
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herein, the Uevplc~er her~y v4venants, for itself, its suc.~oessors and assic~s
~hat it shall oanvey the Ccmro~n Firoperties to the ASSOCiatiQn not later t.han ~
the dat~e an which oont,rol of the As.sociatirn is turned over tA the Class "A" ~
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Members as px~ovided in Article III, Section 2 hereof, free and clear of all ~
liens and encunbranves, exoept real property ta~aes for the year in which the
vo~riveyanve takes plaoe and any ea.~rts granted by the Developer pursuant to
Section 6 of this ArticTe. ;
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Section 3. Use of Camion Praperties for Drainage. ~fie Connr.xi Pro~er-
ties may be used for drainage and the t~~aorary retention of storsn water run-off
fran the Praperties and ather vantiguous property, as w~ell as for apen sa~oe, re- ~
creatian, rights of ingress and egress, and ath~er related activities. No struc-
ture, planting or other material shall be plaoed or pexmitted tA r~nain in the ;
Camnn Pro~perties which mic~t impair ar interfere wi.th the drainage or tei~orary
retential of storm water nm-off of The Prc~erties or other oontiguous property.
Sectial 4. Ext,ent of Members' Eas~ents. ~e rights and easements
of enjvyment created tyereby s~all be subject to the follaving: ~
(a) the right of the Devie].vper and of the Association, in
aca~rdanoe with its Articles and Bylaws, to borrow mrney for the purpose of
i~raving the Qamnn Pro~erties and in aid thereof t~o m~rtgage said properties .
In the event of a default ~on any such m~rtgage, the lenders' right herew~der
shall be limited to a right, after taking passessirn of such praperties, to
c~arg~e admissior~ and other fees as a oondition to oonti.nued enjqm~r?t by the
mg~ers and, if neoessary, t~o c~i the enjaym~nt of such prnperties to a wider
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