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7.1.F. - Page 82 <br /> 3.3. Transferred Membership: Membership in the Association shall not be transferred, <br /> encumbered, pledged, or alienated in any way, except upon the sale or encumbrance of the <br /> Condominium to which it is appurtenant, and then only to the purchaser, in the case of a sale, or <br /> Mortgagee, in the case of an encumbrance of such Condominium. On any transfer of title to an <br /> Owner's Condominium, including a transfer on the death of an Owner, membership passes <br /> automatically with title to the transferee. A Mortgagee does not have membership rights until it <br /> obtains title to the Condominium by Foreclosure or deed in lieu of Foreclosure. Any attempt to <br /> make a prohibited transfer is void. No Member may resign his or her membership. On notice of a <br /> transfer, the Association shall record the transfer on its books. <br /> 3.4. Membership and Voting Rights: Membership and voting rights for each Owner shall <br /> be as set forth in the Bylaws. Declarant shall have the right to serve on the Board in an advisory <br /> capacity, as further described in Section 4.2 of the Bylaws. The Commercial Unit Owner[s] shall <br /> have the right to separately elect one of the Directors on the Board, as further described in Section <br /> 4.2 of the Bylaws. <br /> 3.5. Suspension of Association Operations: Declarant and the Commercial Owner of <br /> Commercial Unit A shall have the right to suspend the operations of the Association until such time <br /> as when Declarant sells and conveys a Residential Unit to an Owner under a Public Report. If <br /> Declarant and the Commercial Owner of Commercial Unit A elect to so suspend the Association <br /> operations, such agreement shall be stated in writing executed by the Declarant and the <br /> Commercial Owner of Commercial Unit A. In the event of such suspension of Association <br /> operations, the Declarant shall operate the Project, paying all costs and expenses for the Common <br /> Expenses as defined in this Declaration, and shall contribute to the Association Reserve Fund for <br /> the time that such suspension is in effect, and the Commercial Owner of Commercial Unit A shall <br /> reimburse the Declarant for its share of such Common Expenses, based upon the "General <br /> Common Use Expenses" and "Garage Expenses" that are allocable to the Commercial Unit A in <br /> accordance to this Declaration. <br /> ARTICLE IV.ASSESSMENTS; LIENS AND FORECLOSURE <br /> 4.1. Creation of the Lien and Personal Obligation of Assessments: The Declarant, for <br /> each Condominium within the Project, hereby covenants, and each Owner of any Condominium by <br /> acceptance of a deed for that Condominium, whether or not it shall be so expressed in such deed, <br /> covenants and agrees: <br /> (1) to pay Regular Assessments, Special Assessments and <br /> Reimbursement Charges to the Association as established in this Declaration, and <br /> (2)to allow the Association to enforce any Assessment Lien established <br /> under this Declaration by non-judicial proceedings under a power of sale or by any other means <br /> authorized by law. <br /> The Regular and Special Assessments, and including Reimbursement Charges, as <br /> permitted under Section 4.10, together with interest, late charges, collection costs and reasonable <br /> attorneys' fees, shall be a charge on the Condominium and shall be a continuing Assessment Lien <br /> upon the Condominium against which each such Assessment is made, the Assessment Lien to <br /> become effective upon recordation of a Notice of Delinquent Assessment. Each Assessment, <br /> together with interest, late charges, collection costs, and reasonable attorneys' fees, shall also be <br /> the personal obligation of the person who was the Owner of such Condominium at the time when <br /> the Assessment fell due. The personal obligation for delinquent Assessments shall not pass to his <br /> successors in title unless expressly assumed by them. No Owner shall be exempt from liability for <br /> payment of Assessments by waiver of the use or enjoyment of any of the Common Areas or by <br /> the abandonment of the Owner's Condominium. <br /> The interest of any Owner in the amounts paid pursuant to any Assessment upon the <br /> transfer of ownership shall pass to the new Owner. Upon the termination of these covenants for <br /> any reason, any amounts remaining from the collection of such Assessments after paying all <br /> amounts properly charged against such Assessments shall be distributed to the then Owners on <br /> the same pro rata basis on which the Assessments were collected. <br /> 19 <br /> [DRAFT][05.03.14] C:\Program Files\Neevia.Com\Document Converter\temp\4056.doc <br />