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- and requirements of the Condominium Act and lawful ac~endments
thereto. Membership is automatic upon acquisition of a unit and
approval by the Association, and may not be transferred apart and
separate from a transfer of the ownership of the unit. Membership
sh~ll automatically terminate upon sale or transfer of the unit,
whether voluntary or involuntary.
13.2 Voting Rights. There shall be one person with
respect to each unit who shall be entitled to vote at any meeting
of the unit owners. Such person is hereafter referred to as a
voting member. If a unit is owned by more than one individual,
the owners of said unit shall designate one of them as the voting
memher. If a unit is owned by a corporation, the Board of
Directors of the corporation by duly passed resolution shall
designate one of its off.icers or employees as the voting member.
If a unit is owned by a partnership all of the partners by an
appropriate resolution shall designate one of the partners as the
voting member. If a unit is owned by more than one trustee, all
of the trustees shall designate one of the trustees as the voting
member. The By-Laws of the Association shall govern the
proceedings to follow in designating an individual as the voting
member of the unit. I€ one individual owns more than one unit,
he shall have as many votes as the number of units that he owns.
The vote of a unit is not divisible.
14. THE ASSOCIATION. The operation of the condorninium
ptoperty shall be by TARPON BAY YACNT CLUB CONDOMINIUM G
ASSOCIATION, INC., a corporation not for profit under the laws of
tl:e State of Florida. The Association shall have all of the
powers and duties set forth in the Condominium Act, and all of the
powers and duties granted to or imposed upon it by this
Declaration, the Articles of Incorporation, and the By-Laws of the
Association. A copy of the Articies of Incorporation and By-Laws
of the Association are attached hereto as Exhibits "D" and "E",
respectively, and incorporated herein by reference.
14.1 Limitation UQon Liabilit~ of Association.
Notwithstanding the de~ty of the Association to maintain and repair
parts of the condominium property, the Associat~ion shall not be
Tiable~ to unit owners for injury or damage, other than the cost of
maintenance and repair, caused by any latent condition of the
property to be repaired and maintained by the ~Association or
caused by the elements or other unit owners or persons.
14.2 Notice of Contingent Liability. In any legal
acti~n in which the Association may-be exposed to liability in .
excess of insurance coveraye protecting it and the unit owners,
the Association shall- give notice of the exposure within a reason-
able time ~ to all uni t owners who _may be exposed to the 1 ia-bil ity,
and they shall have the right to intervene and defe:~d. A copy of
each insurance policy obtained by the Association shall be made
available for inspection by unit owners at reasonable times.
14.3 Control of the 7~ssociation. The first Board of
Directors of thE Association shall remain in office, and Developer
shall control the Association until all units in .the Condominium
have been sold and closed, or until Developer elects to turn over
control, whichever shall first occur; provided, however, such
term of of f ice of the orig inal Directors shall in no event ex tend
beyond three (3) years after fifty percent (50$) of the units have
been sold and closed, or three (3) months after ninety percent
( 90$ ) of the uni ts have been sold and closed . Upon sale and clos-
ing of at least fifteen percent (15$) of the units, the unit
owners other than Developer sha21 be entitleo to elect one third
(1/3 ) of the n~embers of the eoard of Di rec tors . Upon the
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