Book: 5327 Page: 3974
Easement .Areas4
ARTICLE IX
CO!'ITROL AND TURNOVER OF ASSOCIATIONS
Sectionu 9.1. Appointm~!!!. of Directors by Developer.. The Develo1,er shall have the right to at any time appoint members to the Board of Directors of the Owners Association and to the Board of Directors of any Neighborhood Association to assure that r,eveloper's appointed Directors constitute up to seventy- five percent (75%) of each of said Association's Directors until the earlier of the following events occurs: (i) Three months after 90 percent o·f the Lots in all phases of the Venetian Bay Community that will ultimately be operated by the Owners Association have been conveyed to Members or (ii) such other date as the Developer may designate.. Section 9.2. Veto by Developer. Until the Developer turns over control of the Owners Association to the Members, the Developer shall have the right to veto any action taken by the Board of Directors of that particular Association at a time when more th£m twenty--five percent (25%) of the Directors of that Association were not appointed by the Developer. Control of the Owners Association, all Neighborhood Associations and their records shall be turned over to the members at such time as the Developer has turned the Owners Association and Neighborhood Association over to the n1embers.
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ARTICLEX COVENANTS TO RUN WITH LAND
The restrictions and burdens imposed by the provisions and covenants of this Declaration shall constitute covenants running with Property, and each provision and covenant shall constitute an equitable servitude upon the heirs, personal representatives, successors and assigns of each 0\vner of a Lot or Dwelling Unit, and the same shall Iike,vise be binding upo:n the Developer and its successors and assigns. ~This Declaration shall be binding and in full force and effect for a period of thirty (30) years from tJ1e date this Declaration is first recorded in the Public Records of Volusia County, Flori~ after which time this Declaration shall be automatically extended for successive ten (10) year periods, unless (a) an instrument, signed by seventy~five percent (7So/o) of the then 24
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