Instrument #2022025031 #20 Book:8196 Page:4791
Member. Class 'A' Members shall include Builder, except in the context of calculating the Turnover Date.
(ii) Class "B". The sole "Class 13' Member" or "Class B Member" shall be Declarant, or its specifically designated (in writing) successor(s) or assign(s). The Class"B" Member shall be allocated the number of votes equal to the total number ofClass"A"Member votes, plus one(1). Class"B"Membership shall cease and become converted to Class"A"membership upon Turnover. (b) Termination of Class "B" Membership. The Class "B" membership, in its entirety, shall terminate and become converted to Class "A" membership upon the earlier of the following events: When Declarant, in its sole and absolute discretion, elects to convert the last ofits Class"B"membership interests,to Class"A"membership interests; or
(ii) At the Turnover Meeting.
(c) Turnover of Association. Any other provision of this Article III to the contrary notwithstanding, Members Other Than Declarant(as that term is defined below),shall be entitled to elect at least a majority ofthe members ofthe Board of Directors not later than Turnover, which shall be:(i)three(3)months after ninety percent(90%)ofthe Lots in all phases ofthe Development that will or may ultimately be operated by the Association have been conveyed to Class "A" Members, which Turnover shall occur at the Turnover Meeting; (ii) upon Declarant abandoning or deserting its responsibility to maintain and complete the amenities or infrastructure as disclosed in the Governing Documents, with there being a rebuttable presumption that Declarant has abandoned and deserted the Property if Declarant has unpaid Assessments or guaranteed amounts under FL. STAT. §720.308 for a period of more than 2 years; (iii) upon Declarant filing a petition seeking protection under Chapter 7 of the U.S. Federal Bankruptcy Code;(iv) upon Declarant losing title to the Property through a foreclosure action or the transfer of a deed in lieu of foreclosure, unless the successor owner has accepted an assignment of Declarant's rights and responsibilities hereunder first arising after the date of such assignment; or (v) upon a receiver for the Declarant being appointed by a circuit court and not being discharged within 30 day after such appointment, unless the court determines within 30 days after such appointment that transfer of control would be detrimental to the Association or the Members. For purposes of this Declaration, the term "Member(s) Other Than Declarant" shall not include Builders, contractors or other parties who purchases or holds the title to a Lot for the purpose of constructing a Dwelling thereon for resale. (d) Turnover ofDocuments. No later than the Turnover Meeting,Declarant, at Declarant's expense, shall deliver to the Board the documents that Declarant is required to deliver pursuant Subsection 720.307(4)ofthe Association Act. Section 3.04. Multiple Owners. When any Lot entitling an Owner to membership in the Association is owned of record in the name of more than one person, party, or entity, whether such persons or entities own said Lot as fiduciaries,joint tenants, tenants in common,tenants in partnership, partners, or in any other manner ofjoint or common ownership, or if two or more persons or entities aforesaid or otherwise shall have the same fiduciary relationship or rights respecting the same Lot, then unless the instrument, document, or order appointing them or creating the subject tenancy or relationship otherwise directs and it or a copy thereof is filed with the Secretary of the Association or has been recorded in the Public Records, such Owner shall:(i) select one official representative to represent such
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