200709536 - Laserfiche WebLink

Browse

200709536 7.1.2 Class B. The Class B members shall be the Declarant, who shall be entitled to three votes for each unit owned. The Class B membership shall cease and be converted to Class A membership upon the happening of any of the following events, whichever first occurs: a. Ninety (90) days after the date that 75% of the units have been conveyed to Unit Owners other than the Declarant; b. When the Declarant notifies the Association in writing that it relinquishes its Class B membership. 7.2 Joint Ownership. When more than one person is the owner of the unit, all such persons shall be members. The vote for such unit shall be exercised as they among themselves determine, but in no event shall more than one ballot be cast with respect to any unit. The vote for each unit must be cast as a unit and fractional votes shall not be allowed. In the event that joint owners are unable to agree among themselves as to how their vote or votes should be cast, they shall lose their right to vote on the matter in question. If any owner casts a ballot representing a certain unit, it will thereafter be conclusively presumed for all purposes that he was acting with the authority and consent of all other owners of the same unit. In the event that more than one ballot is cast for a particular unit, none of said votes shall be counted and said votes shall be deemed void. 7.3 Comorate or Partnership Ownership. In the event a unit is owned by a corporation, partnership or association, the corporation, partnership or association shall be a member and shall designate in writing to the Association at the time of its acquisition of the unit, the name and title of the person who shall have the power to vote the membership of corporation, partnership or association in the Association. The person so designated shall be the only person who shall be entitled to cast the vote for the units owned by such corporation, partnership or association. If the corporation, partnership or association fails to designate the person who shall have the right to vote the membership of the corporation, partnership or association, then such corporation, partnership or association shall lose its right to vote, and it shall not be considered as a member for the purpose of determining the requirement for quorum or any other purpose requiring the approval of a person entitled to cast the vote for the unit owned by such corporation, partnership or association until a person who shall have the right to vote the membership is appointed. 7.4 Suspension of Voting Rights. In the event any owner of a unit is in arrears in the payment of any assessment or other amounts due under the terms of this Declaration and the By-Laws for a period of fifteen (15) days, said owner's right to vote as a member of the Association shall be automatically suspended and shall remain suspended until all payments, including accrued interest and attorneys fees, are brought current. Automatic suspension also is imposed for a unit owner's infraction of this Declaration or the By-Laws, for a period not to exceed sixty (60) days. 7.5 Transfer of Membership. The Association membership of each owner of a unit shall be appurtenant to such unit. The rights and obligations of an owner and membership in the Association shall not be assigned, transferred, pledged, conveyed or alienated in any way except upon transfer or ownership of such unit, or by intestate succession, testamentary disposition, foreclosure of a mortgage of record, exercise of power of sale under a Deed of Trust, or such other legal process as in effect or as may hereafter be established under or pursuant to the laws of the State of Nebraska. Any attempt to make a prohibited transfer shall be void and shall not be reflected upon the books and records ofthe Association. Any transfer of ownership to said unit shall operate to transfer said membership to the new owner thereof. ARTICLE VIII. ALLOCATION OF COMMON ELEMENT INTEREST AND COMMON EXPENSE LIABILITIES - 9 -