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" . . —__ <br /> —� �a � <br /> a�t :L^. • � � ' � . l -- �271`.`�:. <br /> V <br /> ri.c� �. �-t . � ���'-_ <br /> �� �z' +`, • � � , '�L7\ i��[��7Ca ;� , . <br /> :�x r , � •d• 3 3..�_�— <br />. - 4s•`' . . :E'7Rxs=-? <br /> ;-�?-.��. r .-- . . . , " -� - i. <br /> _}�``�` atherwise ch�aged or interpreted eo as to be fncons�ste�t with t�is ' F �'�-" <br /> _ 1��:. . � • ���,�_��� <br /> ���,,�-�+�`�,: , � �Y�� _ <br /> r,�-�y r--� Declasatiaa. It ehall be the r�sponsibility of tl�e corpbratioa to �;��� _. <br />�,,�.t�,�:��._;� . � �=� � <br /> ��.,�,�;�rt:-.• enforce all of the covenants, restrf.ctions and eanditions aontained � _ -_ <br /> - � �:� . -- �..� <br /> �:�:±� <br /> � ���,:,. in thfs Aqseemeat. �"�.� _-_ <br /> -.,�. __ �.�. --- <br /> �_ _.�•f. � ���_ -- <br /> ���<,:L� 2. C�A�s of votiny,q Meinbe�s__hio._ Pondera� Lake 8states � ���_-,,:,,,w,,,_ <br /> ._::;,:�s 'y.`:'�"- ` '. ' �—��- <br />:r$,�'__�".�`�:. Hoineowners essociation sLal.l hav� two (2) classes of• not�ng ------- <br /> �'��.s:.�-� � � r`�---- <br /> _ . memberohips: . -_=- <br /> -- �:_---- <br /> '.� ' Y �-------- --- ... ._ .. .. . .----�--- � ---.. . ---� ` � � - <br /> , . _. __. . a. Class A._ � Oae (1j s-hare_..of- -L'lass_..A- .vbti�g- -.. . ._.. -�-- - --�--��-----�---- � �.�-- y <br /> __:{...�:"�•�. � membership ahall be issued for eaah of Lots -�=° <br /> , �� ,f � one (1) through Si$teen (16}, aad �ne shaze ����- _ <br /> -•�'''�� '�--- <br /> s_.__=;__'_-,_',,_ for each ene-half (1/2� of Lots Seventeen a �;� <br /> -� ' _ (17a) -through Twenty-two b, (22b),- and _one � _ , - <br /> � _ - share for each eatate block, Ponderosa Lake %t f'-- . <br /> � . . � Estates 3utodivision, and Lots One (1� �hrough ��� °�= <br /> .�� <br /> Eiqhteea (18), Hlock One (1), and I,o� One (1) :,�4". <br /> . � • through Ten (10), �loak Tw+o (2), �vaderosa � <br /> � - Lake Estates Third Subdivisioa. Each ho].der <br /> . ���� of Class e voting membership is entitled to <br /> - . one (1) vote for each share so issued. No <br /> ';;.�.<<;_;� �•. ., shar�s shal� be issued for the outlots. <br /> ::.,`,'w�.�i4�;�,:. ' b. C1ASS B. Class B noting membership shares :. � . <br /> -;�� ��� � � shall be issued to Peggy Rae, her successors - <br />=-'r�„�:.. «`-.... .; ����}�= <br /> -.,:��,•�•�;... .�.,; and assigns, one �1) share for each of I�ots � <br /> ,a-�:� � one 41) through sixteen �(16), ancl one (i) _ � <br /> ,. f.�� ...� sha�e for each one-half �1/2) of Lots +�.=- <br /> :���,�__: , Sevent8ea a (17a) through Tsveaty-two� b (22b), �' <br /> =-v���r.-.�. and one ahare for each estate block, Ponderosa . �'���= <br /> -=�:;.: .�= — <br /> -,:'_ ..J>� � Lake Est8t8s Subd3.visioa, aad Lots Oa� (1) <br /> -��f( . 1 � �t ' . <br /> - � � through Eighteen (18), Hlock One (1), and Lota `�:,♦�..�'� <br /> �- . . oae (i) through Tea (10), Block �vo (2), ;,._.`� <br /> � . Ponderosa Lake Estates Third Subdivisioa. � ���`"��:��_ <br />=�i<�� . � �. peqgy Rae or her successoss and assiqne shall � '� <br /> • ''�' ��� � � be entitled to two (2) not�s for each share ������r �=� <br />--_- � . ,�� own�d. Remaininq Ciass H voting membership �'��- - <br />:_�;�,:, ;,, .;.., , sha�es ahall connert to Clasa 8 shares when . <br /> �:� the total votes of the outstandfnq Class 8 � . . : � <br />::..,;. .,,.�..:�. .': :. memberehip equals or is greater tbaa the total <br /> - ;�:�.�g��.,� : votes of outstanding Class B memb�rahip, or <br />'��:�;;�.�L,.. .;..:. . . _ <br />-,�:� ,�_�.;:.� thirty (30) yeare f rom January 1, 1992, wbich . <br /> - ��';x •Y is �he year 2�22. ' <br /> ����� � <br /> � ; . <br /> '� ` 3. �,cans£er of ClarsJA�o�ing�mbersbfo. IIpon the pu=chase � <br /> "i ]I�Y" <br /> =_'i�_.1C7�'. �' ' � . <br /> �---•'=.�"r.A.�t•.�• . <br /> _==�`._���.,..:��.:a of any lot or estate block within Ponderosa Lake Esicat�s - ��- <br /> - .�f�.``Y��� � . _ <br />-:�._.�;;��;�>: . ' �5 :,.�- <br />":��ad��� ` �� � <br /> � j. <br /> _ar.a..�.y `��_t� . � - <br /> ;:Y*x'?��yT'� ' , . . . . . . . . . <br />._-.',-.�[:•�-.. � . � , - - <br />� f:�a� � y;� .J � . ' �'' <br />' ,•l' + . � . � � . . . . . . �..�- li.. <br /> - • ._ •. 1 . .i'.. .. . . . . ` .- . - . . - � . ,1 . . .I�i:.�t� -• ' � . . � . � � . .. <br /> � ' _ � � � � - . • . . • . •, , . .. . . . tC,. ' �_ .. <br /> . . . ., . .. .. , " <br /> �_...,.. .__ �..'"_...._ _ ._.__'" ____."..'._"__ _ ' ' ." _"_._ . ' . _" ... """" ` .. — __ _.. <br /> � .. .� . <br /> ... <br /> . . � . _.__ _ . <br /> __.. ' <br /> . . ... . -_— ._._-.____ . _... _ __ _ <br /> ' , .. _ . , .-. . . ' ' , . • � " .. ' • . . . . . . •. _. �, <br /> " ' ' . .. . 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