8F Consent 2011 0502 - Laserfiche WebLink

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(a) Each Owner. including Declarant, shall be a Member of the Association. Membership shall be appurtenant to each Condominium in the Project. and the holding of an ownership interest in a Condominium in the Project shall be the sole qualification for membership, provided that no Owner other than Declarant shall hold more than one membership even though such Owner owns an interest in more than one Condominium. Membership shall terminate automatically when the Owner no longer holds any ownership interest in any Condominium in the Project.'Membership may not be assigned, transferred, pledged, hypothecated, conveyed, or alienated in any way except on a transfer of title to a Condominium and then only to the transferee. Any attempt to make a prohibited transfer shall be void. Any transfer of title to a Condominium shall transfer automatically the appurtenant membership to the transferee. Any party that holds an interest in a Condominium merely as security for perforrrnance of an obligation shall not be a Member of the Association. /N\ Each Member of the Association shall have the .ights, d \s, and obligations set forth in this Declaration. the Articles. the Bylaws, and the AssociatibnRules and Regulations. (c) Notwithstanding any other provision of'this the Articles, or the Bylaws, throughout the Declarant Control Period, 1eclarant shall be deemed`tobe the Class B Owner in the Association, as defined'in Section�8.3(a) below regardless of the number of Condominiums that it owns at any..poiavduring that Period 8.2 Approval by a Specified,Percentage_of Owners. Except as required by law or as otherwise provided in this Declaration. the Articles, or the Bylaws. and subject to the provisions of Section 8 03 Pthis Declaration. all matters.regwrng the approval of a majority or a specified percenttage of Owners & o(of , the vgZhg rights or voting power of Owners shall bedertd apprro, ed if approCed any duly called regular or special meeting at which a quoru is present, eitherumperson or by proxy, by Owners holding the spe�ified.perc ntage; m f the tot 1'voti\g power�of Owners present, either in person or by p�oxy/ r_i�pproved by wri ten hallo in`he absence of a meeting, in accordance with provisions, if any of�he Bylaws.duly permittihg the use of a written ballot. 8 S, Voting. (a) The Association shall havetwo classes of voting membership as follows: (i) Class A: Class A are all Owners, with the exception of Declarant. Each Class A Owner shall be•entitled to one vote for each Condominium in which he or she owns an interest. If more than oniOwner owns an interest in the Condominium, only one vote may be cast with respect to that Condominium. (ii) Class B: The Class B Owner shall be Declarant, who shall be entitled to three votes for each Condominium it owns or has the right to create in any phase of the Project pursuant to Section 17.2 of this Declaration. Class B membership shall cease and be converted to Class A membership on the expiration of the Declarant Control Period. (b) As long as two classes of voting memberships exist, except as expressly provided otherwise in this Declaration, any action by the Association that requires approval by the Owners or by the voting rights or voting power of a specified percentage of Owners shall require the approval by the designated percentage of voting power in each class. Except as required by law, or as otherwise provided in this Declaration, the Articles or the