Agenda - 05-02-1988 - Laserfiche WebLink

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095 Association, every member shall have a right and easement of enjoyment in and to the Common Properties and such easement shall oe appurtenant to and shall pass with the title of every lot. Section 2. Delegation of Use. Any member may delegate in accordance with the By-Laws, his right of enjoyment to the Common Properties and facilities to the members of his family, his tenants, or contract purchasers who reside on the property. Section 3. Title to Common Properties. The Company hereby covenants, for itself, its successors and assigns that it shall convey, bargain and sell the Common Properties to the Association on or before the date the Company has acquired effective contracts for the sale of all of the lots as shown on the recorded map at the subdivision subject to all restrictive covenants of record. Section 4. Extent of Member's Easements. The rights and easements of enjoyment created hereby shall be subject to the following: (a) The right of the Company and of the Association, in accordance with its By-Laws, to borrow money for the purpose of improving the Common Properties and in aid thereof to mortgage said properties. (b) The right of the Association to take such steps as are reasonably necessary to protect the above-described properties against foreclosures; and (c) The right of the Association, as provided in its By-Laws, to suspend the enjoyment of rights of any member or any tenant of any member for any period during which any assessment remains unpaid, and for any period not to exceed thirty (30) days for any infraction of its published rules and regulations, it being understood that any suspension for either non-payment or any assessment or a breach of the rules and regulations of the Association shall not constitute a waiver or discharge of the Member's obligations to pay the assessment; and (d) The right of the Association to charge reasonable admission and other fees for the use of the Common Properties and/or facilities therein; and (e) The right of the Association to give or sell all or any part of the Common Properties including leasehold interest to any public agency, authority, or utility or private concern for such purposes and subject to such conditions as may be agreed to by the members, provided that no such gift or sale or determination as to the purposes or as to the conditions thereof shall be effective unless such dedications, transfer and determination as to purpose and conditions shall be authorized by the vote of two-thirds (2/3) of the vote at a duly called meeting and unless written notice of the proposed agreement and action thereunder is sent to every member at least twenty (20) days in advance of any action taken. A true copy of such resolution togetner with a certificate of the result of the vote taken thereon shall be made and acknowledged by the President or Vice-President and Secretary or Assistant Secretary of the Association and such certificate shall be annexed to any instrument of dedication or transfer affecting the Common Properties, prior to the recording thereof. Such certificate shall be conclusive evidence of authorization by the membership.