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Home My WebLink About0338 4. It is understood and agreed by and between the parties that upon the completion of the construction of the sewer and potable water treatment facility by OCEAN TOWERS, that OCEAN TOWERS shall convey title to the land described in Exhibit "B" attached hereto, together with all improvements constructed thereon to Ocean Towers Utility Corporation, a Florida not-for-profit corporation, which will be the owner aid operator of the sewer and potable water treatment facility at such time as the first users thereof in ISLAND VILLAGE and/or OCEAN TOWERS are connected thereto. Any assignment, bill of sale and/or transfer of title of the lands described in Exhibit "B", including the improvements thereon, to Ocean Towers Utility Corporation shall be subject to the terms of this Agreement. Any owner of a residential condominium unit within OCEAN TOWERS and any owner of a townhouse unit within ISLAND VILLAGE shall, coincidentally with his property ownership, become a member of Ocean Towers Utilities Corporation. S. At the request of OCEAN TOWERS and/or Ocean Towers Utility Corporation, ISLAND VILLAGE shall convey any and all ~ right, title and interest it may have in the collection and i k distribution lines lying within the lands described in Exhibit "C" to Ocean Towers Utilities Corporation and shall further ~ grant such easements for such collection and distribution lines, including the maintenance, repair and service thereof as may be requested by OCEAN TOWERS and/or Ocean Towers Utilities Corporation. 6. Service of sewage collection and potable water distribution by Ocean Towers Utilities Corporation to ISLAND VILLAGE shall be by means of a single meter for sewage service ~ and a single meter for potable water service to the property r of ISLAND VILLAGE described in Exhibit "C" attached hereto and ISLAND VILLAGE shall be responsible for apportioning any and all charges for such service among the members of Ocean Towers Utilities Corporation who are owners of townhouses within ISLAND VILLAGE. 811~~~ PAGE ~p