Section 2.03. Membership. Every Unit Owner, upon becoming the Owner of a Condominium, shall automatically become a Member of the Association, and shall remain a Member thereof until such time as his ownership ceases for any reason, at which time his Membership in the Association shall automatically cease. Ownership of a condominium shall be the sole qualification for Membership in the Association. All memberships shall be appurtenant to the Condominium conveyed, and with the exception of Grantor, a Person shall be deemed a Unit Owner of a Condominium only upon recordation of a Sublease of Condominium and Grant Deed of Improvements, or assignment thereof, to such Person. Except as may otherwise be provided herein, the rights, duties, privileges and obligations of all Members of the Association shall be as provided in this Declaration and in the Rules and Regulations.

Section 2.04. Transfer. Th Membership held by any Unit owner shall not be transferred, pledged alienated in any way, except upon the sale or encumbrance of such Unit Owner's Condominium, and then only to the purchase or Beneficiary of such Condominium. Any attempt to make a prohibited transfer is void, and will not be reflected upon the books and records of the Association. A Class A Member who has sold his Condominium to a contract purchaser under an agreement to purchase shall be entitled to delegate to such contract purchaser his Membership right in the Association. Such delegation shall be in writing and shall be delivered to the Board before such. contract purchaser may vote. However, the contract seller shall remain liable for all charges and assessments attributable to his Condominium until title to the Condominium sold is transferred, as further provided in Article V Section 5.07 of this Declaration. In the event the Owner of an Condominium should fail or refuse to transfer the Membership registered in his name to the purchaser of such Condominium upon transfer of title thereto, the Board of Directors shall have the right to record the transfer upon the books of the Association. Until satisfactory evidence of auch transfer has bean presented to the Board, the purchaser shall not be entitled to vote at meetings of the Association.