HomeMy WebLinkAbout0971 Bach purchaser or owner of a Dwelling Unit in TARPON
BAY VILLAS shall be entitled to one (1) vote for each Dwelling
Unit at all elections and on all other matters that may come
before a meeting of the members. If any member of such
Association shall be the purchaser or owner of more than one
Dwelling Unit in TARPON BAY VILLAS, he shall be entitled to as
many votes as the number of Dwelling Units purchased or owned by
him. Developer shall be entitled to, and obligated to accept
membership in such Association, and shall have the benefit and
bear the burdens of such membership with respect to the unsold "
Dwelling .Units in TARPON BAY VILLAS.
C . TITLE TO CO!lMON AREA
Developer- may retain the legal title to the Common
Area until completion of the last unit in TARPON BAY VILLAS or for
a period of two (2) years from the date of recording this Amended
Declaration of Covenants, Restrictions and Easements whichever
event first occurs. At such time as Developer conveys legal title
to the Common Area, Developer shall convey the Common Area to the
Association clear of any mortgages and subject to taxes for the
year of conveyance, and to restrictions, covenants, conditions,
limitations, reservations, and easements of record. Until the
transfer of title to the Association, Developer shall perform all
the obligations, covenants and agreements, .and abide by the
~ restrictions contained herein with res
pect to the common
properties, except for such construction and marketing activities
as are consistent-with development.
The share to be paid by the Developer for
~ assessments while it is a member of the Association shall be
computed on the basis of the number of Dwelling Units owned by it
~ in the same manner as the share is computed of each other Owner of
a Dwelling Unit(s). ~At the time of transfer of title to the
Common Area, to the Association, the Association shall accept the
~ conveyance of title to it, shall continue to perform all of its
functions and its members shall continue to be bound by this
. -5- ~~331 P~ 971