|
. ���—._.` ._,._.. ._ — —_ �.h�-1����� ��;'.. ' •..�� .
<br /> ��. V- e .._..�� ".
<br /> L•:.. _ _ _ _ .- �__ _
<br />_.w s..ia{�
<br /> — '' 91_ looi82
<br /> each ono-haif (i/2) lots aavoateea a (17a) thrcugh tw�nty-tiwo
<br /> b (22b) and oae ahere for oach eatat� bloak. Poqgy Raa or bar
<br /> — sucaoeeors and assigns ehall be entitled to two (2) voto4 !or
<br /> �acb ehaxe ownQd. Romaini.ag Claos B votinq mamborahip oharae
<br /> =—_� sha�ll convert to Class l► �hAres whea tha total votos of the
<br /> � � otttatanding Clase l► memberehip equals or ia qraater than the -�
<br /> _�,�� total votes of outstandinq Claes B membershi.p, or thirty (30)
<br /> `-= years from Ja�auary 1, 1992, which is the year 2022.
<br /> �`�� 3. Tra�±sfer of Class �v9�in_qyA�nl�T921;D. Upoa the pusahase
<br /> ��...�t:-.. � -
<br /> =_'w,.-r...
<br /> -�'Y:;�;'�� �af any lot or estate block within Ponderoea Lake Estates
<br /> __;`,� " . . � _
<br /> ___..,,:�,.�� 9�1bdj.V�.S�pA� Peggy itae, her sucaeasors and aseiqne sht�ll tranefer
<br /> --- -=�;.,:�
<br /> --=�`=A�� ' ��ne �hare of Class E votiaq memberahip in the Aesoaiation to s�id
<br /> .,�,�,_T_
<br /> -`�� purahaswr and shall surronda� ono stiarQ of Claas B voting
<br /> ,�,..;..
<br /> .�.y_
<br /> ���as. memberabip iu the 7►ssociation, which shara shall aeaee tio exiat.
<br /> �:.��;.. _
<br /> �......�::��: .
<br /> �,�.�;,�.;_ � � Tho oharo of Claes 1► mwaberohip ahall run witih tho land aad
<br /> -_:z•W..w,,._.
<br /> �.�_:��r sutomatiaally bo tranof�rr�d to any n�w own�r upon tl�� aal• or _
<br /> v,w�;
<br /> - f`g'�'�Y' � othar tranefer of any lot or ostato block ia tho Pondorooa Lako
<br /> =.,a,.:�� ^
<br /> --�''�` � Estatee eubdiviaian.
<br /> �.�;�
<br /> =:�:��,'�'�'�� ' 4. Board of Directors/Annual Aesessment� 11 8oard of
<br /> ,z.:
<br /> -- '_ � Direatora aoneietiaq of three (3) nwmbers shall be Qstabliahed.
<br /> _._ .:,,�:,r- .
<br /> —=t__.,.
<br />-:�:;ry-"�' � The Board of Directore shall control, by mn jority vote, the
<br /> �' ��-
<br /> ��- '° :- ' management and operation of the Aaeaciation. The Board, in ita
<br /> :��:
<br /> �,=.`..�� ���� sole and absolute discretion, mey f ix the amount of the annual
<br /> :�-y;:.:,
<br /> ;,
<br />_s�,�`'' �,��.,,,.,..„ aesesement as follows:
<br /> _�±�L. .�'M1��,i: .
<br /> .�..�,�`.�;�;��.����'/t�1h
<br /> �°�'"F?�+�=�;��''.�`� . e. As lonq as Clase B membership ahares exist, the Hoard of
<br /> ,,.,, - �
<br /> `:�'ty�;:'�3',t�t�.��'.�1' Directore may levy an auaual sesessment.
<br /> eLR,. �1 �� .h.,.
<br />.' �rr' .:...N��l...,
<br /> -=-='::J`;�f g, From and after January 1 of the year immediately
<br /> V••::� •,�,����;��� - following the point at which all Class B membership shares
<br /> - �.�y;,�,�� shall cease to esist, the mau3mwa annual assessment may be
<br /> �-�•r..::� . increased each year in an amount not to es�ceed ten percent
<br /> �'� , (10�) above the masimum asaesantent for the previous year.
<br /> :�_ ,.,.,.�.::� .
<br /> � � C. From and after January 1 of the year immediately
<br /> .� followinq the point at which all Class H membership sharea '
<br /> 12
<br /> • �U .. .�_., -- ---. ... .... ,y..._, .. . .. .__ ._..__..�...... .__�„n�---_.
<br /> .a'ti..�_�_��r.�:_i�
<br /> ' .. �• .' "_. .`1 �1'
<br /> . .. . , . ' • .. ..�- -
<br /> — . . ;'�..- . •.:�.
<br /> � - . . - � . � . . .�� .
<br /> � . .� ' _I:, �.• � .
<br /> • . , ..�� .. .. � . .. .
<br /> t
<br /> 1 .
<br /> ? � � _ .. - - -.._ __ - - �
<br />
|