5.01 - Estate Acquired.
The Owner of each Unit shall have such an estate therein as may be acquired by grant, by purchase or by operation of law, including an estate in fee simple, and shall acquire as an appurtenance thereto an undivided proportionate interest in the Common Elements of the Condominium, which shall not be divisible from the Unit to which it appertains, as set forth in Exhibit F attached hereto and made a part hereof. Said proportionate interest is based upon the relative square footage of each Unit and is expressed as a percentage of the whole. This percentage has been adjusted to permit it to be expressed as a finite number to avoid an interminable series of digits.
5.02 - Use of Percentage Interest.
The aforesaid percentage interest shall be used to
5.03 - Voting Rights in Association.
Each Unit Owner in good standing shall be entitled to cast one (1) vote for each Unit to which he holds title in all elections of Directors. In all other questions, each Unit Owner in good standing shall be entitled to cast such votes as are equal in weight to the percentage of interest in the Common Elements appurtenant to the Unit for which it is cast. If a Unit is owned by more than one person, the one (1) vote to which said Unit is entitled shall be divided by the number of Co-Owners of said Unit. The Developer shall be entitled to cast all votes appurtenant to Units owned by it, whether said Units are completed or prospective, but shall not be permitted to cast such votes in order to amend this Master Deed or the By-Laws or any other document for the purpose of changing the permitted use of a Unit or reducing the Common Elements.
5.04 - Membership in the Association.
Upon acceptance of a deed to a Unit each Unit Owner shall automatically become a member of the Association, and shall be a member for so long as he shall hold legal title to his Unit subject to all provisions of this Master Deed, the New Jersey Condominium Act, Certificate of Incorporation, and the By-Laws and Rules Regulations which may now or hereafter be established by the Association. The Sponsor shall be a member of the Association with respect to the Units owned by it.
5.05 - No Partition.
Subject to the provisions of this Master Deed, the Certificate of Incorporation, the By-Laws and the New Jersey Condominium Act, the Common Elements shall remain undivided and no Unit Owner(s) shall bring any action for partition or division thereof. In addition, the undivided proportionate interest in the Common Elements shall not be separated from the Unit to which it appertains and shall be deemed conveyed or encumbered with the Unit even though such interest is not expressly mentioned or described in the conveyance or other instrument.
5.06 - Compliance By Owners.
Each owner or occupant of a Unit shall comply with, and shall assume ownership or occupancy subject to laws, rules and regulations of governmental authorities having jurisdiction over the Condominium, the provisions of this Master Deed, the Certificate of Incorporation, By-Laws, Rules and Regulations or any other agreement, document, amendment or supplement to the foregoing as described in Article X hereof. Failure to comply with any of the foregoing shall be grounds for commencement of an action for the recovery of damages, or for injunctive relief, or both, by the Developer, the Association, or any Unit Owner, in any court or administrative tribunal having jurisdiction, against any person or persons, firm or corporation violating or attempting to violate or circumvent any of the aforesaid, and against any Unit Owner to enforce any lien created by this Master Deed or any covenant contained herein. Failure by the Developer, the Association, or any Unit Owner to enforce any covenant herein contained for any period of time shall in no event be deemed a waiver or estoppel of the right to thereafter enforce same.
