This is the actual wording from Rules and Regulations.....
Leasing of Lots
In order to maintain the character of Medlock Corners as a primarily residential development with the Lots being primarily utilized by owner/occupants thereof, and to enhance the financing of Lots in the future, leasing of the Lots in the development are subject to the following terms and conditions:
(i) Definition. “Leasing” for purposes of this Declaration, is defined as regular occupancy of a Lot by any person other than the owner, with or
without a written lease agreement, for which the owner, any relative of the owner or any other agent of the owner receives any consideration or benefit, including, but not limited to, a fee, service, gratuity or emolument. For purposes hereof, occupancy by a roommate of an owner shall not constitute leasing.
(ii) Leasing Approval. Any Lot owner that desires to lease his or her Lot shall notify the Board of Directors of the Association thereof in writing and request its written approval (“Leasing Approval”) to lease such Lot. If the Lot owner shall receive Leasing Approval, the Lot owner may thereafter lease his or her Lot subject to the other terms and conditions of this Paragraph and this Declaration. No Lot owner shall lease his or her Lot unless and until Leasing Approval has been obtained. The Board of Directors of the Association shall issue its Leasing Approval for such Lot provided that there are not Leasing Approvals issued and outstanding for more than twenty percent (20%) of the total number of Lots in the development. Upon the granting thereof, a Leasing Approval shall remain in effect until the first to occur of any of the following: (i) the sale or other conveyance of the Lot in a bona fide, arm’s length transaction; (ii) the Lot owner has failed or been unable to lease the Lot in a bona fide, arm’s length transaction for a period of ninety (90) days from the date Leasing Approval was initially granted for such Lot, or (iii) after the initial lease thereof, the Lot at any time thereafter is not leased in a bona fide, arm’s length transaction for a period of ninety (90) consecutive days. If at the time the Lot owner seeks Leasing Approval for his or her Lot, Leasing Approvals are outstanding for more than Twenty percent (20%) of the Lots in the development, then Leasing Approval shall not be granted for such Lot at that time, except for Emergency Leasing Approvals granted pursuant to Subparagraph (iii) of this Section 16(b). Any Lot owner who is denied Leasing Approval for the foregoing reason, shall be entitled to request that such Lot owner’s name be placed on a waiting list maintained by the Board of Directors of the Association or its management agent, and such Lot owner shall thereafter become eligible for Leasing Approval, if the Lot owner continues to desire such Leasing Approval, at that point in time when the number of Leasing Approvals issued and outstanding falls below said figure of twenty percent (20%) of the total number of Lots in the development. No such Leasing Approval granted with respect to a particular Lot shall be transferable to any other Lot owner or Lot. The Board of Directors of the Association shall have the authority to impose such other and further requirements governing the issuance of Leasing Approvals as may be reasonably necessary to effectuate the provisions of this Paragraph.
(iii) Emergency Leasing Approval In addition to the foregoing leasing rights, the Board of Directors of the Association shall also have the authority to issue, in its sole discretion, emergency approvals for the lease of a Lot (an “Emergency Leasing Approval”) due to situations arising from death or catastrophic illness, job transfers or other extraordinary or emergency situations that would reasoning Approval. Each Emergency Leasing Approval shall be valid only for the period of time specified by the Board at the time such Emergency Leasing Approval is granted and the Lot owner shall immediately discontinue leasing of the Lot at the end of such time period unless a Leasing Approval or an additional Emergency Leasing Approval is first obtained. Emergency Leasing Approvals shall be automatically revoked if during the term of the approval, the owner is approved for and receives a Leasing Approval.
