Orange County NC Website
Browse       Search
15 <br /> Section 2.2. Delegation of Use. Any Owner may delegate, in accordance with the <br /> Bylaws, his right of enjoyment to the Trail and Pedestrian Ways to the members of his family, <br /> his tenants,or contract purchasers who reside on the Property. <br /> ARTICLE III <br /> MEMBERSHIP AND VOTING RIGHTS <br /> Section 3.1. Every record Owner of a Lot which is subject to assessment will be a <br /> Member of the Association. Membership will be appurtenant to, and may not be separated from, <br /> ownership of any Lot which is subject to assessment. <br /> Section 3.2. The Association will have two classes of voting membership: <br /> Class A. Class A Members will be all Owners with the exception of the <br /> Declarant, and will be entitled to one vote for each Lot owned. When more than one person holds <br /> an interest in any Lot, all such persons will be Members; however, the vote for such Lot will be <br /> exercised as they among themselves determine, or as set forth in the Bylaws, but in no event will <br /> more than one vote be cast with respect to any Lot.Fractional voting is prohibited. <br /> Class B. The Class B Member will be the Declarant and will be entitled to <br /> four(4)votes for each Lot owned.The Class B membership will cease and be converted to Class A <br /> membership with one vote for each Lot owned on the happening of either of the following events, <br /> whichever occurs earlier: <br /> (a) when the total votes outstanding in Class A membership equal or <br /> first exceeds the total votes outstanding in Class B membership, however, no earlier than two (2) <br /> years following the date of conveyance of the first Lot by Declarant,or <br /> (b) five (5) years from the date of conveyance of the first Lot by <br /> Declarant. <br /> Page 5 of 50 <br />