Mortgage and Pledge. With the approval of at least two-thirds (2/3) of the Board and the consent of the Class B Members (if any), the Board shall have the power and authority to mortgage the property of the Association and to pledge the revenues of the Association as security for loans made to the Association which loans shall be used by the Association in performing its functions.
Appears in 4 contracts
Samples: Declaration of Covenants, Conditions and Restrictions, Declaration of Covenants, Conditions and Restrictions, Declaration of Covenants, Conditions and Restrictions
