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2 <br />6557.03/12309 <br />F. Declarant intends by this Declaration to impose upon portions of the Property these <br />mutually beneficial restrictions, easements, assessments and liens under a general plan of improvement <br />and development for the benefit of all of the Owners, the Units and the Common Area within the <br />Development. <br />G. The Property may be developed in two or more Phases. The first Phase will be subject to <br />this Declaration upon its recordation and upon meeting the legal requirements for creation of an <br />condominium project pursuant to state law. Each subsequent Phase will be subject to this Declaration <br />upon the recording of a Declaration of Annexation applicable to each such Phase as provided in Section <br />2.8 of this Declaration. Declarant may, but has no obligation to, annex all or any portion of the <br />Annexation Property or other portion of the Property to the Development by recording a Declaration of <br />Annexation in compliance with the provisions of this Declaration. The first Phase will include those <br />portions of the Property described in Section 2.1 of this Declaration and as indicated as part of such Phase <br />on the Condominium Plan (defined in Section 1.1 below). Future Phases intended to be annexed into and <br />become part of the Development are portions of the Property referred to herein as the Annexation <br />Property, as further described in Section 1.1 of this Declaration and shown on the Condominium Plan. <br /> <br />H. The Owner of a Condominium will receive a separate interest in an individual Unit and <br />an undivided interest in common in the Building Common Area for the building in which the Unit is <br />located. Each Condominium shall have appurtenant to it a membership in the Blu Harbor Owners <br />Association, a nonprofit mutual benefit corporation, which shall own the Association Common Area. <br /> <br />I. Declarant hereby establishes by this Declaration a plan for the individual ownership of <br />the real property estates, consisting of the airspace contained in each unit, and co-ownership interest as a <br />tenant in common with the other individual owners in the building in which an owner’s unit is located, as <br />hereinafter defined. <br /> <br />OW, THEREFORE, Declarant hereby declares that Parcel 1, Parcel 2, Parcel 3 and any other <br />portion of the Property so designated herein (and any Phase or future Phases once annexed into the <br />Development), shall be held, conveyed, hypothecated, encumbered, leased, rented, used, occupied, sold <br />and improved subject to the following declarations, limitations, covenants, conditions, restrictions, <br />easements, servitudes and liens all of which are declared and agreed to be in furtherance of a plan for <br />condominium ownership as described in the Davis-Stirling Act for the subdivision, improvement, <br />protection, maintenance and sale of condominiums within or upon the Development and all of which are <br />declared and agreed to be for the purpose of enhancing and protecting the value and attractiveness of the <br />Development and every part thereof. All of such limitations, covenants, conditions, restrictions, <br />easements, servitudes and liens shall run with the land and shall be binding upon and inure to the benefit <br />of Declarant, its successors and assigns and all parties having or acquiring any right, title or interest in or <br />to any part of Parcel 1, Parcel 2, Parcel 3 and any other portion of the Property so designated herein (and <br />any Phase or future Phases once annexed into the Development) or the Development. Declarant further <br />declares that it is the Declarant’s express intent that this Declaration satisfy the requirements of the Davis- <br />Stirling Act. <br /> <br />7.1.K. - Page 6