Purchased Common Properties definition

Purchased Common Properties means and refer to those tracts of land with any improvements thereon acquired by the Association and maintained and administered not through general assessments provided for in Article V, Section 3 hereof, but through special assessments and user fees only.
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Purchased Common Properties means and refer to those tracts of land with any improvements thereon containing a regulation length 18-hole golf course and/or an executive length 18-hole golf course and associated clubhouse, pool and tennis facilities, acquired by the Association to be operated as a membership recreational facility with membership criteria to be selected and determined by mutual agreement between the Association's Board and the Company or other owner of such facilities and user costs and operating rules for such facilities to be determined by the Board of Directors of the Association.
Sample 1
Purchased Common Properties means and refer to those tracts of land with any improvements thereon acquired by the Association, and designated in the deed therefor as "Purchased Common Properties”. Purchased Common Properties are to be devoted to and intended for the common use and enjoyment of Type A Members of the Association.
Sample 1

Examples of Purchased Common Properties in a sentence

  • The Property Owner shall at its expense develop and provide roads and other related infrastructure, and, as to Real Property on Kiawah Island, pursuant to and at such times required by the KICA Covenants, transfer same to the KICA if they are intended to be KICA Common Properties or Purchased Common Properties or Restricted Common Properties.

  • Once conveyed to the Association these properties shall become Common Properties, Restricted Common Properties or Purchased Common Properties as the case may be.

  • Once conveyed to the Association, these properties shall become Common Properties, Restricted Common Properties, or Purchased Common Properties, as the case may be.

  • The Annual Assessments levied by the Association shall be used exclusively for the improvement, maintenance, enhancement, enlargement, and operation of the Common Properties and Restricted Common Properties, and Purchased Common Properties, and to provide services which the Association is authorized to provide.

  • In carrying out these duties, the Association may expend funds derived from assessments to make payments of principal and interest as consideration for the conveyance by the Company to the Association of Purchased Common Properties.

  • Care plans reflect the level of staff assistance and types of continence aids required.

  • The Association shall be authorized to maintain Purchased Common Properties from receipts of Annual Assessments or Special Assessments.

  • Any debt incurred in acquiring Purchased Common Properties by the Association may be paid over a period not to exceed twenty years from receipts of Annual Assessment, Special Assessments, and/or Amenity Assessments.

  • Section 10-6: OWNERSHIP OF PURCHASED COMMON PROPERTIES The Association shall be authorized to purchase and own Purchased Common Properties and Neighborhood Common Properties.

  • All which are Common Properties (including Purchased Common Properties and Neighborhood Common Properties) are governed by the Association.


More Definitions of Purchased Common Properties

Purchased Common Properties means and refer to those Common Properties which the Members of the Association choose to purchase by Mail Referendum.
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Related to Purchased Common Properties

  • Common Properties means and refer to those areas of land shown on any recorded subdivision plat of The Properties and intended to be devoted to the common use and enjoyment of the owners of The Properties.

  • Common Property means any and all real and personal property and easements and other interests therein, together with the facilities and improvements located thereon, now or hereafter owned by the Association for the common use and enjoyment of the Owners.

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Subject Assets is defined in Section 2.2(c).

  • Transferred Real Property means (a) the Transferred Owned Real Property and (b) the premises that is subject to the Transferred Real Property Leases.

  • Contributed Assets shall have the meaning as set forth in Section 2.2.

  • Real Properties means the real property owned by the Borrower or any of its Subsidiaries.

  • Excluded Properties the collective reference to the fee or leasehold interest in real properties owned by the Parent Borrower or any of its Subsidiaries not described in Schedule 5.8.

  • Assets and Properties of any Person means all assets and properties of every kind, nature, character and description (whether real, personal or mixed, whether tangible or intangible, whether absolute, accrued, contingent, fixed or otherwise and wherever situated), including the goodwill related thereto, operated, owned, licensed or leased by such Person, including cash, cash equivalents, Investment Assets, accounts and notes receivable, chattel paper, documents, instruments, general intangibles, real estate, equipment, inventory, goods and Intellectual Property.

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Real Property Interests means all interests in real property of whatever nature, including easements, whether as owner or holder of a Security Interest, lessor, sublessor, lessee, sublessee or otherwise.

  • Acquired Assets has the meaning set forth in Section 2.1.

  • Transferred Assets means the assets, rights and properties of the Sellers that the Purchasers shall acquire as of the Closing.

  • Subject Properties has the meaning specified in Section 5.13(a).

  • Timberlands means all the timberlands from time to time owned by the Loan Parties.

  • Owned Real Properties has the meaning set forth in Section 3.16(b).

  • Transition Property means the property right created by a financing order, including without

  • Owned Properties has the meaning set forth in Section 3.16.

  • The Properties means and refer to all such existing properties, and additions thereto, as are subject to this Declaration or any Supplemental Declaration under the provisions of Article II hereof.

  • Additional Purchased Assets shall have the meaning set forth in Subsection 3(a).

  • Additional Properties means any oil and natural gas assets or related interests that are acquired by any member of the Partnership Group pursuant to an Acquisition.

  • Project Assets means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements, road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometre-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centres, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site;

  • Initial Properties means collectively the Properties listed on Schedule 1.1 and “Initial Property” means any of such Properties.

  • Real Estate Business means homebuilding, housing construction, real estate development or construction and the sale of homes and related real estate activities, including the provision of mortgage financing or title insurance.

  • Purchased Contracts has the meaning set forth in Section 2.1.1(a).

  • Sale Assets is defined in Section 5.2(a)(ii).