HomeMy WebLinkAbout2035 such parcel shall be exercised as the}• may determine among
themselves. In no event shall more than one vote be cast
with respect to any parcel owned by Class A members.
Class B - The Class B members shall be Declarant who
shall be entitled to exercise five (5) votes for each parcel
owned. The Class B membership shall cease and be converted
to Class A membership when the total votes then outstanding
in Class A membership equals or first exceeds the total votes
remaining outstanding in the Class B membership.
Section 3. Purpose. The purpose of the Association is
to provide for maintenance, preservation, upkeep and architectural
control of the parcels, dwelling units, and the easements
which have been dedicated, declared and granted herein; to
promote the health, safety and welfare of the residents within
the real property which is the subject matter of this
Declaration; to accomplish the duties and undertakings placed
upon the Association in this Declaration; and accomplish all
other rights, duties and authorizations which might be contained
in the Articles of Incorporation and By-Laws of the Association.
Section 4. Duties and Powers. The Association shall have
and exercise all of the rights, privileges and duties and
powers which may be granted and reserved unto it in the
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Articles of Incorporation and By-Laws of the Association as the
same may be constituted from time to time and shall have and
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! exercise all of the rights, privileges, duties and powers
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granted and reserved unto the Association in this Declaration.
Section 5. Transfer of Equity. A member's ownership or
t
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equity in the Association cannot be conveyed, transferred,
sold, assigned or hypothecated in any manner, except as an
appurtenance to his parcel. Funds, assets and property of
the Association shall belong solely to the Association sub-
ject to the limitation that the same be expended, held or
used solely for the members of the Association in accordance
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LAK OFFICES OP RICHARD D~ 5\EEU. •)R., P. A.. 700 YIKGI\IA A~EKCE. S1;ITE 163.51"\ BA\K BLDG;., P<'. PIERCE, FLORIDA :),11'.O (:H15) •i65-390