World Yacht Club Ltd  -  COVENANTS, CONDITIONS and RESTRICTIONS

ARTICLE IV
COMMON AREA AND ASSOCIATION PROPERTY RIGHTS AND LIMITATIONS


Section 4.01. Conveyance of Association Property. At any time prior to the conveyance of the first Unit in Project No. l, the Declarant shall convey to the Association fee title to any Association Property within the Initial Property, free and clear of all liens and encumbrances, and reservations, easements, rights, rights of way, covenants, conditions and restrictions then of record, including those set forth in this Declaration.

Section 4.02. Members' Easements of Enjoyment. Every Member shall have a right and easement of access, use, support, if necessary, and enjoyment in and to all Common Areas and any Association Property, regardless of the Project in which such Member is an Owner, and such easement shall be appurtenant to and shall pass with the title to every Unit subject to assessment, subject to the following: 

(a) The right of the Association, in accordance with its Articles and Bylaws, to borrow money for the purpose of improving any Association Property and in connection with any such borrowing, to deed in trust any such Association Property; provided, however, that the rights of any beneficiary under such deed of trust shall be subordinate to the rights of the Members.

(b) The right of the Association to take such steps as are reasonably necessary to protect any Association Property against foreclosure.

(c) The right of the Association, as provided in its Bylaws, to suspend the right of a Member to use recreational or social facilities within the Common Area of any Project or any Association Property for any period during which any Assessment against his Unit remains unpaid and delinquent, and for a period not to exceed thirty days for any infraction of the Association Rules.

(d) The right of the Association to dedicate or transfer all or any part of any Association Property to any public agency, authority or utility or any other entity or person for such purposes and subject to such conditions as may be agreed to by the Members, provided, that no such dedication or transfer shall be effective unless approved by the vote or written assent of not less than two-thirds of the voting power of the Association and an instrument in writing is recorded and signed by the Secretary of the Association certifying that such dedication or transfer has been approved by the required vote or written assent; provided further, that the granting of easements or other transfers for public utilities or for other public purposes consistent with the intended use of any Association Property shall not require such prior approval.

(e) The right of the Association to grant easements over and under the Common Area of any Project to any public agency, authority or utility or any other entity or person; provided that any such easement shall not unreasonably interfere with the right of any Owner to the use and enjoyment of his Unit and Exclusive Use Common Area and such Common Area. No such easement shall be effective unless approved by the vote or written assent of not less than two-thirds of the voting power of the Members residing in the Project in which the easement will be granted and an instrument in writing if recorded and signed by the Secretary of the Association certifying that the granting of such easement has been approved by the required vote or written assent; provided that the granting of easements for public utilities or for other public purposes consistent with the intended use of such Common Area shall not require such prior approval.

(f) The right of the Association to establish and enforce reasonable rules and regulations pertaining to the use and enjoyment of any of the Common Area and any Association Property.

(g) The right of the Association to limit the number of guests of Members and to limit the use of any of the Common Area and any Association Property by persons not in possession of a Unit, but owning a portion of the interest in a Unit required for membership.

(h) The right of the Association to charge reasonable admission and other fees for the use of any recreational facility or equipment situated upon any of the Common Area or any Association Property or owned by the Association.

(i) The right of the Association to perform its duties and exercise its powers under the Article entitled "Duties and Powers of the Association".

(j) The right of Owners to the exclusive use of their Exclusive Use Common Areas (such as a balcony) as provided in the subsection entitled "Exclusive Use Common Areas" of the Section entitled "Reservation of Easements by Declarant" of the Article entitled "Easements."

(k) The right of the Owner of a Unit to reasonable access to the Common Area and Association Property for the purpose of maintaining services; provided, however, such access shall be subject to the consent of the Association acting through the Board, whose approval shall not be unreasonably withheld, and which may include the Association's (acting through the Board) approval of modifications upon the exterior of the Common Area or Association Property, and other conditions as the Association (acting through the Board) determines reasonable.

(1) The right of the Declarant or any governmental authority to impost limitations, restrictions or conditions affecting the use, enjoyment or maintenance of any of the Common Area or any Association Property whether by agreement with the Association, the Declarant, or otherwise. (m) Such other rights of the Association, the Architectural Committee, the Board, the Owners and the Declarant with respect to any of the Common Area and any Association Property as may be provided for in this Declaration.

Section 4.03. Delegation of Use. Any Member may delegate, in accordance with the Bylaws, his right of use and enjoyment to any of the Common Area and any Association Property to the members of his Family, his tenants and contract purchasers who reside in his Unit. Neither the Member nor his Family may exercise the right during any period in which the right is delegated to tenants or contract purchasers.

Section 4.04. Damage to Common Area, Association Property, or Maintenance Area. Each Member shall reimburse the Association for the costs of correcting any damage to any Common Area, any Association Property any Maintenance Area, any furniture, furnishings, fixtures, equipment or improvements on such property and areas which may be sustained by negligence or willful misconduct of said Member or of anyone he has permitted to reside in or use his Unit), both minor and adult.  Said Member shall reimburse the Association within thirty days of receipt of a statement from the Association identifying all related costs.