AgdaPkt 2011-09-12 - Laserfiche WebLink

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6. 1. F. - Page 12 located. Each Condominium shall have appurtenant to it a membership in the One Marina Owners Association, a nonprofit mutual benefit corporation, which shall own the Association Common Area. G. Declarant hereby establishes by this Declaration a plan for the individual ownership of the real property estates, consisting of the airspace contained in each unit, and co- ownership interest as a tenant in common with the other individual owners in the building in which an owner's unit is located, as hereinafter defined. NOW, THEREFORE, Declarant hereby declares that Phase 1 (and any future Phases once annexed into the Development), shall be held, conveyed, hypothecated, encumbered, leased, rented, used, occupied, sold and improved subject to the following declarations, limitations, covenants, conditions, restrictions, easements, servitudes and liens all of which are declared and agreed to be in furtherance of a plan for condominium ownership as described in the Davis - Stirling Common Interest Development Act (Civil Code Section 1350 et seq.) (the "Davis- Stirling Act ") for the subdivision, improvement, protection, maintenance and sale of condominiums within or upon the Development and all of which are declared and agreed to be for the purpose of enhancing and protecting the value and attractiveness of the Development and every part thereof. All of such limitations, covenants, conditions, restrictions, easements, servitudes and liens shall run with the land and shall be binding upon and inure to the benefit of Declarant, its successors and assigns and all parties having or acquiring any right, title or interest in or to any part of the Property or the Development. Declarant further declares that it is the Declarant's express intent that this Declaration satisfy the requirements of the Davis - Stirling Common Interest Development Act. ARTICLE 1 DEFINITIONS Section 1.1 Definitions "Annexation" shall mean the process whereby Annexation Property is added to the Development as additional Phases pursuant to the provisions of Section 2.8. "Annexation Property" shall mean and refer to the real property which may be annexed to and become a part of the Development as a future Phase pursuant to Section 2.8 of this Declaration. The Annexation Property is comprised of those areas designated as Annexation Property on the Condominium Plan, and may also include portions of Parcel 2, Parcel 3 and Parcel 4 shown on the Parcel Map. "Annual Assessment" shall mean and refer to an Assessment against all Condominiums in the Development which is levied pursuant to Section 4.3. "Architectural Control Committee" shall mean and refer to the committee by that name established pursuant to this Declaration and Article XI of the Bylaws, as further described in Section 7.28 of this Declaration. "Articles" shall mean and refer to the Articles of Incorporation of One Marina Owners Association, as amended from time to time. "Assessment" shall mean and refer to that portion of the cost of maintaining, improving, repairing, operating and managing the Development which is to be paid by each Owner as determined by the Association in accordance with this Declaration. 2 CCRS -One Marina. docx