HomeMy WebLinkAbout2014 and to conduct and transact all other business anti affairs
which may be necessary to implement the maintenance and }
continue structural and architectural quality of the units
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now situated on the above described property, including the
power to levy and collect assessments against parcel owners,
acquisition. of such supplies and equipment as may be necessary,
borrow money upon consent of two thirds (2/3) of each class of
members, participate in mergers and consolidations with other
non-profit corporations organized for the same purposes and
annex additional property for the benefit of the above described
real property, have and exercise any and all powers, rights and
privileges that a non-profit corporation organized under
Chapter 617 of the Florida Statutes by law may now or hereafter
have or exercise and such other purposes as may be assigned
to the Association hereafter by the aforesaid Declaration,
these Articles of Incorporation or the By-Laws of the
Association.
The activities of the Association will be financed by
assessments against members as provided in the said Declaration
and no part of any net earnings of the Association will inure
to the benefit of any member.
l ARTICLE III
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~ Every person or entity who is an owner of a fee or
undivided fee interest in any parcel which is subject by the
said Declaration of record to assessment by the Association,
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including contract sellers, but excluding persons or entities
~ holding title merely as security for performance of an
i obligation, shall be a member of the Association. Membership
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shall be appurtenant to and may not be separated from ownership
of a parcel which is subject to assessment by the Association,
as more fully provided in the said Declaration and shall
automatically terminate when such person or entity is no longer _
the owner of a parcel which is subject to assessment by the
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