Agenda - 06-17-2014 - 7e - Laserfiche WebLink

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14 Section 2.1. Owners' Easements of Enioyment. Every Owner will have a right and easement of enjoyment in and to the Recreation Space as shown on the recorded plats which will be appurtenant to and will pass with the title to every Lot subject to the following provisions : (a) the right of the Association to suspend voting rights,to suspend the right to use the Recreation Space and to impose fines; (b) the right of the Association to dedicate, sell, lease, or transfer all or any part of the Recreation Space, or any interest therein, to any public agency, authority, or utility, or to any other person for such purposes and subject to such conditions as may be agreed upon by the Members. No such dedication, sale, lease, or transfer will be effective unless it has been approved by at least eighty percent (80%)voting interests of each class of Members and an instrument of dedication, sale, lease, or transfer properly executed by the Association has been recorded. On such instrument the Secretary of the Association will certify, that at least eighty percent (80%) voting interests of each class of Members have approved the dedication, sale, lease, or transfer and that certificate may be relied upon by any third party without inquiry and will be conclusive as to any grantee, its successors, or assigns; provided, however, conveyances for general utility purposes, as specified herein, may be made by the Board of Directors of the Association without consent, of the Members; (c) the right of the Association, in accordance with its Articles and Bylaws, to borrow money for the purpose of improving the any of the Recreation Space; (d) the right of the Association in accordance with its Articles of Incorporation or Bylaws to impose rules and regulations for the use and enjoyment of the Recreation Space and improvements thereon,which rules and regulations may further restrict the use of the Recreation Space. Page 4 of 50