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Floating Use Agreement and the Floating Use Rules. All
reservations will be processed on a first-come, firat-serve
basis, except that the reservation system may provide for
priorities in receiving and processing reservation requests
among Floating IInit Weeks or IInit Night Segments. However, a
IInit Week Owner who is de2inquent in the payment of all ad
valorem property tax assessments or special assessments, and
any and all maintenance f ees, charges, or assessments imposed
on such IInit Week Owner, including but not limited to
Vacation Owner Association Dues, may not be entitled to
request or keep a Floating IIse Period reservation or enjoy
any priority for reservation of a Floating IIse Period.
3. The IInit Week Owner, however, will not be
entitled to request or be assigned Floating Use Period(s) in
any Season other than the same Season assigned ~o the
original IInit Week purchased, unless otherwise provided by
the Floating IIse Rules. For example, unless otherwise
provided by the Floating IIse Rules, a Unit Week Owner may
only be assigned Floating Use Period(s) within the Prime Time
Season if the Owner purchased a IInit Weelc in the Prime Time
Season. All IInit Weeks in Phase I of the Condominium are
assigned to one of two seasons, the Prime Time Season or High
Time Season. IInit Weeks Numbered 1 through 17, 24 through
35 , 46 , 47 , and 50 through 52 are assigned to the Prime Time
Season. AI1 other IInit Weeks are assigned to the High Time
Season.
4. An Owner of a Unit Week committed to the
Floating IIse Plan shall not be entitled to carry over the
unused portion of the annual Floating IIse Period(s) from one
year to the next year, and non-use of any portion of the
annual Floating IIse Period(s) will not relieve the Unit Week
Owner from the obligation to pay all applicable taxes,
maintenance fees, charges or assessments due.
5. The Developer anticipates that if and when
Phase II is added.to the Condominium, some or all of the Unit
Weeks in Phase II may be committed to the Floating Use Plan.
Accordingly, the Floating IIse Plan may include some or all of
the IInit Weeks from Phase I and Phase TI. However, the
Developer reserves the right (1) not to commit some or all of
the Unit Weeks of Phase II to the Floating Use Plan, or (2)
to provide that the Owners of Unit Weeks in IInits added by
Phase II shall be entitled to be assigned Eloating Use
Periods only in IInits of Phase TI. Under either election by
the Developer, the Owners of Unit Weeks in the Units of Phase
I would be entitled, as a result, only to be assigned
Floating IIse Periods in Units of Phase I.
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