COVENANTS

Article V - The Cordova Club

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Cordova Club Owner's Association

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ARTICLE V

 

Property Common Areas

5.1.      Common Area Ownership. The Common Area shall be maintained by the Association. Declarant retains ownership of the Common Areas but may, at any time, convey all or any part of the Common Areas to the Association or to the Lot Owners in common ownership relative to ownership. Such ownership of the Common Areas shall be in trust for the Lot Owners and in the best interests of the Project. Upon the purchase of a Lot, a Lot Owner automatically agrees to accept such pro-rata share of the Common Areas.

Upon the transfer of the Common Areas, Declarant shall use its best efforts to effect the easements and subordinations which may be necessary in the best interests of the overall Project. To that end, all Lot Owners do, upon their taking title to a Lot or Lots, irrevocably appoint Declarant as their attorney-in-fact to grant all such easements and to do those things and execute those instruments required to give effect to the intent of this Declaration.

5.2       Use of Common Areas. Each Owner may use the Common Areas in accordance with the purpose for which they are intended without hindering or encroaching upon the lawful rights of the other Owners.  Each Owner, by the acceptance of his deed or other instrument of conveyance or assignment, agrees to accept and be bound by rules and regulations, adopted by the Association irrespective of when the same are promulgated, either before or after such party shall become an Owner.

 

 

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