Embarc at Sandestin

Key facts from Embarc at Sandestin's documents

Reflects the 2016 governing documents — figures and rules are as originally recorded and may have changed since.

Community type

Timeshare Club – Embarc Members Association (formerly Club Intrawest), a nonstock, nonprofit Delaware corporation (Recitals and Section 1.16 (Club definiti)

Units / lots

63 Resort Accommodations (specifically 63 condominium unit numbers listed in Exhibit A) (Recital F and Exhibit A (list of 63 unit)

Governing law

Delaware General Corporation Law (referred to as Delaware Corporate Law in definitions) (Section 1.23 definition of 'Delaware Cor)

Assessments & dues

Board levies annual Resort Fees based on total Membership Costs divided by Total Resort Points (Assessment Per Resort Point). Each Member pays Assessment Per Resort Point times their Resort Points/Advantage Interest (Section 10.5). (Section 7.2(b)(ii) and Section 10.5)

Special assessments

Board may levy Special Assessments for capital improvements (e.g., Upgrades) or emergencies; requires Board approval; may also be used for operating deficits. (Section 1.60 (definition), Section 4.9(a)

Collections & liens

Not explicitly mentioned in this excerpt; but assessments are likely a lien (typical for timeshare). Not stated.

Reserves & fees

Club maintains Reserves (Section 10.12). Used for capital repairs and replacements. (Section 1.42 definition of 'Reserves' an)

Leasing & rentals

Declarant may rent its Resort Points and Advantage Interests to general public (Section 5.9). Members may not rent? Unreserved time may be rented by Manager with proceeds to Club or Declarant (Section 5.11). No express prohibition on Member (Sections 5.9, 5.11)

Signs & flags

Declarant may display signs for marketing (Section 5.8(a)). No restriction on Member signs mentioned. (Section 5.8(a))

Use restrictions

Implicit – use is for temporary occupancy by Members and guests; not permanent residence (timeshare). No express 'residential only' clause but occupancy limited to Use Periods. (Article 5 generally)

Voting & meetings

Each Member (except Gateway Resort Point owners) entitled to vote as provided in By-Laws; Resort Point Member: one vote per 15 Resort Points; Gateway Resort Point: one vote per 30 Gateway Resort Points (with tiered example); Advantage Membe (Section 6.2 and Section 7.2(b)(iv))

Amendments

Master Declaration may be amended via amended and restated declarations as evidenced; supplemental declarations require execution by parties and recording. Specific amendment procedure not detailed in excerpt. (Sections 4.2, 4.3; also references to 'a)

Amenities

Not listed; references to 'Project Property' and recreational facilities (Section 1.38). Specific amenities not described.

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.