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IV. MEMBERSHIP AND VOTING RIGHTS IN THE ASSOCIATTON
Section 1. Membership: Every person or entity who is a record
fee simple Owner of a Lot, inclt~aing the Developer at all times as
long as it owns all or any part o£ the Property subject to this
Declaratian, shall be a mer~ber of-the As~ociation, provided that any
such person or entxty who holds such interest only as security for the
perfo~mance of an obligation shall not be a member. Membership shall
be appurtenant to, and may not be separated From, ownership of any Lot
which fs subjec~ to assessment. Irrespective of the number of
occupants, owners, partners, etc., each lot shall be represented by
one membership.
~ Section 2. Voting Rights: Each member sha11 be entitled to one "
(1) vote as hereinafter provided. However, in no event shall any .
member be entitled to cast such a vote if any payments and/or
assessments shall be delinquent afc the time of such voting. The
Developer shall retain ~he right to appoint all o£ the members of the
Board of Directors as long as it owns at least one (1) Lot in.Bay St.
Lucie Subdivision. Members o~ the Board of Directors as to whom the
Developer may relinquish the right to appoint, and all members of th~
Board afte~c Developer no longer owns at least one (1) Lot in Bay St.
Lucie Subc3ivision shall be elected annually for a term of one (1) year
by the majority vote of the members o£ the Bay St. Lucie Property
Owners Association, Inc.
V. COVEiVANTS FOR MAINTENANCE ASSESSMENTS
Section 1. Cxeation of the Lien and Personal Obligations of ~
Assessments: The Developer, for each Lot owned by i
within Bay St.
Lucie Subdivision, hereby covenants, and each Owner of any lot (by
acceptance of a deed therefor, whether or not it shall be so expressed
in any suah deed ox other conveyance) including any purchaser at a
judicial sale, shall hereafter be deemea to covenant and agree to pay
to the Association any annua~ assessments or charges, and any special
assessments for capital improvements or major repair; such assessments
to be fixe~3, established and collected from time to time as
hereinafter provided. All such assessments, together with interest
thereon from the due date at the rate.of twelve (12$) percent per
~ annum and costs of colleetion thereof (including reasonable attorney's
fees), shall be cY?arged on the land and shall be a cantinuing li,en
upon the Lot(s) against which each such assessment is made, and shall.
also be tt~e personal obligation of the Owner. No Owner may waive or
otherwise escape liability for the assessments provided for herein by
non-use of the streets and roads or abandonment of the same.
Section 2. Pur ose of Assessments: The annual and special
assessmen~s levied by t e Association shall be used exclusively for
the purpose of promoting the recreation, health, safe~y and welfare of
the residents xn Bay St. Lucie~ Subdivision, and in particular for the
improvement and maintenance of Common Areas and any easement in favor -
of the Association, including, but not limited to the cost of
maintaining the roads and all road easements from the public highways
to Bay St. Lucie Subdivision, the cost af taxes, insurance, labor,
~quipment, mat~rials, management, maintenance and supervision thereof,
as well as for such other purposes as are germissable activities of,
and under~aken by, the Association.
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