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responsibilities, the power tc. p~rchase, sell ot lease Units
in the Condominium, the poker to borrow noney anc'. to create
mortgages on Units in the Condominiur~ owned by the Condor.:ini~.un
tissociation ar.d the power to perfar:.i its obliRations and exercise
its r?ghts ur.::er the Declaration c.f Condo~inic^~.
I ~!
~'~MBERSliIP
The qualification of c~e^~ber~ ot the Condo:^inium Associati^n
(the ":iembers"), the manner af their adrt:ission to membership,
the manner of the termination of s:~ch r.:ecnbership and t-otin~ by
:•~embers shall be as follows:
1. All record owners of Cond~r^initun l;ni rs in rhe
Condominiu^~ ("Ltnits") shall be Mer=ibers and no other persor.s or
entities shall be enti[led to mer~bership in the Condor.:initu~
Association.
2. Membership in the Condominiw~n Associatior shall be
esrablished auto~ratically and without further action upon the
acquisition of o•.~mership of fee [itle or to~fee interest in a
L`nit, whether b~ cor.veyance, devise, or judicial decree, whereupon
the r.:embership in the-Condominium Association of the priar owr.er
of such ~~it sha!1 terminate autor,-atically and without further
action.
3. The share of a ~:er~~ber is [he funds and assets of the
Cor.dominiu:~~ A.ssociation and membership in the Condominium
Associat•ion cannot be assi~ned. hypothecated cr tr~nsferred in
any c:anner exce~t as an appurtenance to a Unit.
4. Votin~ by the Members in the affairs of the Condominium
Association shall be in accordance with the provisions of Article
5.03 of the Deciaration of Condomir.ium and ~f the Bylaws of the
C~n~ominium Asseciation (the "Bylaws").
t'
TE R2•S
The term oi w;i~c?: the Condominiur,; Association is to exist
shall be perpetual.
VI
SUBSCRIBERS
The na*~es and residences of the subscribers to these Articles
of Incorporation are as follows:
BOOKJ~ PAGE~~.V~ _2_ EXHIBIT B- Page 3 of 10 pages