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19 <br />6557.03/12309 <br /> <br />Section 2.21 San Francisco Bay Conservation and Development Commission <br />Jurisdiction. The following notice is required by California Civil Code 4255(c). If a common interest <br />development is within the San Francisco Bay Conservation and Development Commission jurisdiction, as <br />described in Section 66610 of the Government Code, a declaration recorded on or after January 1, 2006, <br />shall contain the following notice: <br /> <br />OTICE OF SA FRACISCO BAY COSERVATIO AD <br />DEVELOPMETCOMMISSIO JURISDICTIO <br /> <br />This property is located within the jurisdiction of the San Francisco Bay Conservation <br />and Development Commission. Use and development of property within the <br />commission's jurisdiction may be subject to special regulations, restrictions, and permit <br />requirements. You may wish to investigate and determine whether they are acceptable to <br />you and your intended use of the property before you complete your transaction. <br /> <br /> <br />ARTICLE 3 <br /> <br />THE ASSOCIATIO <br /> <br />Section 3.1 Incorporation. The Association is a nonprofit mutual benefit corporation <br />formed under the laws of the State of California, and shall be established upon filing and approval of <br />Articles of Incorporation with the Secretary of State. At the recording of the deed first sale of a <br />Condominium to a third party purchaser, the Association shall be charged with the duties and invested <br />with the powers set forth in the Condominium Documents. Until such time as a grant deed is recorded for <br />the sale of an individual Condominium Unit in the Development to a third party (i) the Association shall <br />remain dormant and have no authority or control over the Development, (ii) the Development shall be <br />controlled, managed and operated by the Declarant (or its successor or assign), and (iii) Declarant (or its <br />successor or assign) may own, operate and manage the Development as a rental project in its sole <br />discretion. <br /> <br />Section 3.2 Action Through Designated Officers. Except as to matters requiring the <br />approval of Owners as set forth in the Condominium Documents, the affairs of the Association, including <br />the exercise of its powers and duties, shall be conducted by the Board, such officers as the Board may <br />elect or appoint or such Persons with delegated authority as set forth in the Condominium Documents. <br /> <br />Section 3.3 Association to Manage the Common Area. The management of the Common <br />Area, including both the Building Common Area and Association Common Area, shall be vested in the <br />Association in accordance with the Condominium Documents. The Owners of all of the Condominiums <br />hereby covenant and agree that the administration of the Development shall be in accordance with the <br />provisions of the Condominium Documents. <br /> <br />Section 3.4 Membership. The Owner of a Condominium shall automatically, upon <br />becoming the Owner of same, be a Member of the Association, and shall remain a Member thereof until <br />such time as that Owner’s ownership ceases for reasons set forth herein, at which time that Owner’s <br />membership in the Association shall automatically terminate. Each Owner shall have the rights, duties <br />and obligations of membership as set forth in the Condominium Documents. Any party that holds an <br />interest in a Condominium merely as security for performance of an obligation shall not be a Member of <br />the Association. Upon the commencement of Annual Assessments in a subsequent Phase, the Owners of <br />7.1.K. - Page 23