Article 3


Membership

3.1 Eligibility

        All persons owning any real property excluding mortgage holders within the boundaries depicted in Exhibit A (known as Shorewood on the Sound area), situated in the County of King, State of Washington, are eligible to become members of the Club.

        In addition, all persons renting property as a residence in the Shorewood on the Sound Area are eligible to be members of the Club with all benefits of membership except all persons renting property may not vote in Membersip Meetings, serve on the Board or serve as an officer of the Club.


3.2 Dues
        The Board will from time to time designate the amount and deadline for payment of the annual membership dues to be levied equally upon each residential parcel of real property within the area designated in 3.1.  Upon payment of the annual dues, all persons for which the dues have been paid are members of the Club.

3.3 Voting Privileges
        In connection with all matters coming before the membership for a vote, there is one vote assigned to each residential parcel of real property within the Shorewoodthe Sound area for which the annual membership dues have been paid. It is the responsibility of the owners to determine the manner in which their one vote is to be exercised.  In the event the owners of property are not able to determine the manner in which the vote will be exercised, the Club is not required to recognize any vote from the parcel.

3.4 Automatic Termination of Membership
        Membership in the Club may be terminated by resignation at any time and will terminate automatically upon death of the last surviving owner of the property or by sale of the real property owned by the member in the Shorewood on the Sound area.

3.5 Effect of Termination of Membership
        In the event of termination of membership of any member, no portion of the property or assets of the Club will pass to the member or to the estate of any deceased member, nor will any former member have any claim or right, title or interest in or to any of the property or assets of the Club.

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