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7.1.L. - Page 57 <br /> 1.23 Mortgagee. A mortgagee under a Mortgage or a beneficiary under a deed of trust recorded <br /> against a Condominium in the Development. <br /> 1.24 Occupant(s). Any Person entitled to use and reside in a Condominium pursuant to an <br /> ownership right or any lease, license or other similar agreement with the Owner of the Condominium. <br /> 1.25 Owner. The owner or owners of the fee (perpetual) estate of a Condominium in the <br /> Development. <br /> 1.26 Permittee(s). All Owners and Occupants and their agents and invitees. <br /> 1.27 Person. Any natural person, partnership,trust,corporation, limited liability company,or other <br /> legal entity. <br /> 1.28 Rules. Rules or regulations adopted by the Board from time to time pursuant to the authority <br /> of Section 5.6.2. <br /> 1.29 Stormwater Agreement. The Stormwater Treatment Measures Maintenance Agreement <br /> dated , 2014 between the City and Declarant recorded on , 2014 as <br /> Document No. in the records of San Mateo County, California, and any amendments <br /> thereto. <br /> 1.30 Unit. [NOTE: CONFIRM] The element of a Condominium that is owned separately, <br /> consisting of a separate interest in space, the boundaries of which are described as the areas designated <br /> "unit" in the Condominium Plan. The dimensions of the Unit are measured from the interior of the Unit <br /> envelope, and include the Improvements, airspace and land situated within each three-dimensional Unit <br /> envelope shown on the Condominium Plan, including any Improvement permanently affixed to the Unit such <br /> as decks, even if situated outside the Unit envelope. Each Unit is located immediately atop the podium slab <br /> over the garage; the lowest elevation of each Unit is the elevation on the top of the podium slab beneath the <br /> Unit. The Unit includes the concrete slab situated atop the podium that is the base of the Unit. <br /> ARTICLE 2 <br /> Property Rights and Easements <br /> 2.1 Type of Development. This Development is a condominium project within the meaning of <br /> Civil Code section 4125 and consists of 18 Condominiums and Association Property. <br /> 2.2 Ownership Interests. Each Owner owns a fee (perpetual) estate in a Condominium <br /> consisting of a separate interest in a Unit as defined in Section 1.30 and an undivided equal interest in <br /> common in the Condominium Common Area described in Section 1.7. Each Owner is a Member of the <br /> Association. <br /> The Association owns the fee (perpetual) estate in the Association Property. <br /> The Unit and the Condominium Common Area appurtenant thereto may not be separated. Any <br /> transfer of a Unit automatically shall transfer the Condominium Common Area appurtenant thereto regardless <br /> of whether the instrument of transfer describes the Condominium Common Area. Any conveyance, <br /> encumbrance, judicial sale, or other transfer (voluntary or involuntary) of an interest in the Condominium <br /> Common Area shall be void unless the Unit appurtenant thereto is also transferred. <br /> 2.3 Easements. The Development, including each Condominium and the Association Property, <br /> are subject to the applicable easements described in this Section 2.3 and the general easement rights <br /> described in Section 2.4. <br /> CLSS\51643\927586.5 3 June 16,2014 <br />