Municipal Services Benefit Unit Sample Clauses

Municipal Services Benefit Unit. If, as of the date of this Declaration, a Municipal Services Benefit Unit (“MSBU”) has not been approved and established by the County for the maintenance, operation and repair of street lights and/or other subdivision infrastructure improvements for the Property, the Association shall be responsible for such functions. However, one or more MSBUs may subsequently be created for such purposes, and in such event, the County shall be responsible for the maintenance, operation and repair of such improvements subject to the MSBU, but each Owner, by acceptance of a deed with respect to such Owner’s Lot, consents to the formation and operation of any such MSBUs. The Association shall exist in perpetuity; however, if the obligation for the maintenance, operation and repair of such improvements is vested in the Association and the Association is subsequently dissolved, and an MSBU has not been established, the Association’s property rights with respect to the Common Areas will be conveyed to an appropriate agency of local government. If this is not accepted, then such Common Areas will be dedicated to a similar non-profit corporation; provided, however if no other not-for-profit corporation or agency will accept such property, then any affected governmental instrumentality or agency, may petition the Circuit Court of the County to appoint a receiver or trustee to conduct the affairs and fulfill the obligations of the Association with respect to such portions of the Common Area as the Circuit Court may deem appropriate. If a receiver or trustee is appointed, the Association shall be responsible for court costs, attorney’s fees, and all other expenses of the receivership or trust, which shall constitute Common Expenses of the Association and shall be assessed against its Members. If the Association has been dissolved, or if the Association shall not have a sufficient number of directors, the receiver or trustee shall have all powers and duties of a duly constituted board of directors. The receiver or trustee shall serve until such time as the Circuit Court may deem appropriate.
Sample 1
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