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Articles). The record also contains the First Amended
Bylaws of the club, dated July 30, 1985 (hereinafter
referred to as First Amended Bylaws).
The First Amended Bylaws describes the purposes of the
club in the following terms:
Purposes. The primary purposes for which
Moonlight Beach Club, Inc. (the "Corporation")
has been formed are to acquire and own certain
real property (the "Land") consisting of
approximately 17,000 square feet of land at 130
Fifth Street in the City of Encinitas, County
of San Diego, State of California, and to own,
operate, and maintain a beach club thereon (the
"Club") exclusively for the benefit, pleasure and
recreation of its Members (defined below). The
Club consists of six (6) residential units (the
"Units" or, if only one, the "Unit") with each
Unit containing approximately 2,000 square feet
of living space, with a television, music system,
fireplace, and certain furniture, furnishings,
and other items included within each of the Units
(the "Interior Amenities"). The Club also con-
sists of, in addition to the Units and Interior
Amenities, certain other amenities (the "Exterior
Amenities"), including, but not limited to, a
swimming pool, security gate, and an automobile
for each Unit (the Land, Units, Interior
Amenities, and Exterior Amenities may sometimes
be collectively referred to herein as the "Club
Facilities").
According to the Restated Articles and the First
Amended Bylaws, there were to be three classes of member-
ship in the beach club: Classes A, B, and C. Each class A
membership entitled its holder to the exclusive use of one
of the villas for 60 days per year in consideration of the
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