Common use of MEMBERSHIP IN THE ASSOCIATION Clause in Contracts

MEMBERSHIP IN THE ASSOCIATION. Buyer understands and agrees that upon recordation of the Grant Deed conveying the Property to Buyer, Buyer shall automatically become a “Member” of the Association referenced above. Buyer shall be deemed to have agreed to and shall be entitled to exercise all of the rights (including, but not limited to, voting rights in such Association), and shall be obligated to perform all of the obligations (including, but not limited to, the payment of Assessments) of a Member, all as more particularly set forth in the applicable Project Documents referenced above.

MEMBERSHIP IN THE ASSOCIATION. Buyer Xxxxx understands and agrees that upon recordation of the Grant Deed conveying the Property to Buyer, Buyer shall automatically become a “Member” of the Association referenced above. Buyer shall be deemed to have agreed to and shall be entitled to exercise all of the rights (including, but not limited to, voting rights in such Association), and shall be obligated to perform all of the obligations (including, but not limited to, the payment of Assessments) of a Member, all as more particularly set forth in the applicable Project Documents referenced above.