HomeMy WebLinkAbout0926 - A. Membership. Every person or entity shall automatically
become a member of the Association upon acquisition of fee simple
title to any unit or parcel in TARPON BAY YACHT CLUB, by filing of
record therefor a deed in the office of the Clerk of the Circuit
Court in and for St. Lucie County, Florida, evidencing such
ownership. Membership shall continue until such time as the
member transfers or conveys of record his interest, or his
interest is transferred and conveyed by operation of law, at which
time his membership with respect to the unit or parcel conveyed
shall automatically be conferred upon the transferee. Membership
shall be appurtenant to and may not be separated from ownership of
a unit or parcel which is subject to this Declaration. No person
or entity who holds an interest of any type or nature whatsoever
in a unit or parcel in TARPON BAY YACHT CLUB only as the security
for performance of an obligation shall be a member of the
Association.
8. Association Property.
1. Common Property. Developer has constructed or
shall construct certain improvements on the land particularly
described in Exhibit "B" attached hereto and incorporated herein
by reference, which land and the improvements thereon are herein-
i
after called the "Common Property". The Common Property is
intended for the exclusive use of the members of the Association
and their guests and invitees. The Association is responsible for
the management, maintenance and operation of the Common Property.
Developer will convey title to the Common Property to the Associa-
tion no later than the date of closing on the sale of the last
dwelling unit to be constructed at TARPON BAY YACHT CLUB.
2. Acquisition and Sale of Property. The Association
shall have the power and authority to acquire such interests in
real and personal property as it may deem beneficial to its
members. Such interests may include fee simple or other absolute
ownership interests, leaseholds, or such other possessory use
interests as the Association may determine to be beneficial to its
2 B40K ~G / PaGE 925