- {.(,f;

.\,)1~.

i\~ ;; ~40UNTRYESTATES~:~>fr _ __ .

"..;' ,-. ~,.,

OWNERS MANUAL

KLI'Jo'.A'i'H RIVDl c<Ilm~ <Jo1irn:> ' !\$SOCIA:1' IOli , nc o

BY-UiloIS

It Is t.he intent or these By-Lavs t o enabU sh rights , pr ocedures , aoo respond ­bllities f or the operation ot t he !U.a::atb Ri ve r Country Estates oveees 'flasoeia t i = , In"., her elnaf'te r ca lled the" "Al'; s oc i a t l on'· , \Ih1ch b c ,,"pris e<!of """=5 of l"esl dent1o.l. l ots i n the COUDty or Siskiyou, s eeee of Cali:fornia ," 1thin the real e"ute <l.c ve l op:nent l<na.m a.s Klamth Rivt,r Country Est a t e sGulxli v i s l oD.

fill of t he ?T0'l'isionn l>e:n::l n shall be subject t o t he Arti c l e s at !nc orpar:l.t i ooof t he K1a=th River Couzrtry &;t:>.tcs oecec-e ' Msoc iatiOll , 100 . , t he Decl=atiocor Cavcnant c , CQDdi1;IOll.ll lI.IId Restnctioos of K.lt>:3th Ri ver COWl1:;ry EstatesOwner:; ' Assoei ll:t1OZl, Inc: . , =d t o t he lAvs ot the Gt<l.t e of C&ll!'omi3 .

' ''''''''' ,PRIOCIPAL OF'Flt'E

'l'hc pr1nelpaJ. office of the Ansoc13'tIOD ebmll be l ocated in t he Count,. of51s k.1 J<IU , 5ta~ of C&lii'ornb .

ARTICIB II

PHOPmTY RIGH'l:S AND RICU'1'S OF ENJOYW':l'fI'

Rnch :oember of the lumoclatlon 50011 be enti t l..ed t o t he use o.nd e njoyme nt otthe c a:::rnon pr~rtlcs and r ecti.reaee or t he Associ at i on , BUbject t o t he ;>ro­~illo= of the Articles of Incorporation and By- [a",s of the hs&oc:latlon, tot he Dec lAt"a t i on at Covenants , Conditions and Heztr i c tion::: relating t o theKltlmath Hi""'r COWltry Estate~ Subd1>'iGioo , Ilule s of the IIz11 oc i at i oo , ornd tothe l.av:; of t he State of' Cn.lifo= i li. .

Bae h ",.""ber =a.:r del"Vlte his r i.gbt>; or cn,joy-...e nt in :>aid propcrtieB 3.Od 1'aci 1.1_ties t o the i ndiv1d.un l Cle"!hers or his tlll:lu,. or t o te~ who reside upon 'thelot. or ~l aotbed by s w:h :e::ber under Ii. rent.a1 agx ee:>en-t . A::le':ber ,,"ho rentshis lot or p:u-c e l t o ... t elKlJlto s~ thereb y tI"ll.nSfer t o tbe teD8llt, for t hed u.rntian o t" Il....,h "te06D<: y , t.he :=.ber' s prirl!.eges to use tile facili t i es in thede~lO>*OCllt , based upca aomership or the rented lot or po.rce l . A~r " bodelei;::lt.<:s his~ to " t,er.a.nt shSJ.1. i dent itY the: tenant 'to 'the A:; s oc b t.ioob y e written noti.t1ea t i oo de l1TeIed t o the 5ecre'taTY or the Assoc :lat i oo . '!beAt;::; oc i nt l O1l sha.ll nat be req\dred 'to recogniu the de1.e&1t1a) pt'lor t o receipto r t.he vritten noU.c e . Such r ight s or w:e aDd enjoy:>eu't sl::Ioll. 0.150 be s ubjectt o the provillion" or these By_Laws , inc: l udi ng the suspensi oo prov1z1ow:. .

,

'rbe pr 1=arY purpooe at t he Assoc i atim is to awn, pra:ote, 1I:pr<M!!, and = il:I"",1.Dt.he property or the As s ocio.t im :to: lObe l.l:le , plea.sure , re<:reatia:l, and =,J or...eJltor all or the :>ecbers at 'the Ass oci at101l .

Il1 carrying out s uch pu;ropQ<;e , the Association "ball be ""'P""ered t o COll.(;truct,repair , 1l::prove , and =1ntain streets , rQlS.d.\Illy:; , I1I1d ea;;e=ent.s; t o c OWJtruct,icprove , =intain and repair t he property at the As s oc iation &'Ill. all IIlllIl1Ier otst ru<::'tures , 8ll1.loAl ecc rcecc-e e , f"enc e s , gardcns on:l Ca::::lon ta.ellit1e s ; t o enterreee a.D:i perf"o= contracts ot any kind. i n t urther:l.nc e of" t he pl.lr,)QGes of" theAssociation ; to prCl:lote 'the heulth , sare t y, am well'ro-e of" 'the mClDbers of" t l'.cAs soc iation ; t o entorcc any and all coveaent.e , rect.r-tctnccs, Wld o,ereement sapplicable t o t he KJ..ame.t h Ri ve r Coun'try Estat"'" Gubd::i.v:i s i m and :l.'lY addi t i on sther<:!t o ; and t o exerci s e a ll ot t he ~rs c ontened upon noo protit Corporati""'"by the G<lneral Ilonprat1t Corporatioo La ll ot t he Gtnt e at C&.lH'ornil1 .

Every per::;m or =tit)' "'ho i " lObe re<:ard 0IIDer or a tee :inteTes't i" any l~ orpored wtt.hin the X1a::lll'th Ri ver Cowrtry Estat.e" S~iv1sion . \/hich i s nill>Je<::t.t o t.'>e Declaratim or CO'o-eoants , Cooi1t ions and Res t ::oi c t i OO3 a.tteet i <:g such 10""",and parce ls, a.D:i to eeeeeeeeee by 'this Al; , oc iatiCll and the Deve loper ec set rerthbelOll , sba1.l be II member or the Assoc1<:Lti a:l ; provi<l.ed. that an,y per:lon or ent1l..)''II1l0 hoWs or "Mel! holds s uc h tee interest meN ly as a. s ecur i t y tor t he per _r oreccce of" an obligation sball not be a member of" t he A!:sociation .

Until the sale or t h e last lot i n the develop:lent k.r:OWIl <\ s K.l.aI:nath !live r Count r yEota.Le s Sulluirlsioo which t he Deve l oper thereof, Bois e ceoceae Rec rent ionCCAIlun1ti e s Corparat i oo of Delallare , i t:l eucceeecc-s and n s s l &tW , elects tooubdivide and s ell, Developer shall be d.ee!:lcd t he OIIner or till UllfIOW. lotsin ~id ent ire d.evelOJEe nt whieh hIlvc been s ubdi vided or which Developer irrten<bt o "ubdi vide •

SCctton 2 . Votir,g Rig!rta , C't--u.lAt h .. Vot1nf;. .

'!'he ~aoc:1atiOll shall haY<:! b:n; an<! e~s of I:OCI!lbersh1p . KeI>bers 5htLll be e."Itit.1.ed'to cee vu'"..e f"= each lot 0lI'De<!. in the KL!II:lD.'th River C<JU:Itry Estnte:: S ubdi v1si<l<l ashc.""C i ntibOVO: s tated . \lhen =o:re t.'uLn ODe perS(IO holAs an i :rt.ere::t or 1.n'te:rezts ina l.ot , all such poersor..lJ shlI.U be =bers at 'the Assocuti m , and the vate T Q<" sucbJointly- owned l ot sball be exerc i:>ed 1n such =nner an t;a1d eo-ooroers =y deter_.IIi~, M.lt in no e vent "htl.ll t here be :IlCIre than me vif.... ,..1t.h re&pect to any oneice • In t he e vent that e c-cceeee or a l ot cannot deter':l1De ll.:long t hE=sel ve:s t.he::llU\ner in >fhich II. vote s hall be exerei~, the a pplicable vote pcr<-...:l.i.nl..!:l<': t o theeo-awn~ lot sl-..a.ll not be exere i sallle . Eacb :r.ecber =ay vote or execute c o=e nt!:: inpe rson or b y wr i t ren pr oxy, aoo there shall be a r i ght t o c1.lllulnt i ve vot i ng fure lee tiun or r-e::tloval at d i re<: t or s , as detined by Sect i on 223) of t.he CulH urniaCorp<lru.t i ons Code .

•

•

r.ectl<m 3 . E'7idexe of Mer:ibersh1p and~rsh1p Cert1t'1ca t.es .

Ce:'1.itlcatell of ::e::bership in the A!;sociat ioo shall be lllllued t o all :llellibcr s .The y sho.ll be in s uch tore as tile Bou'd sh:l.l l. des igno,te !l.Ild shall be issuedover the ll i8n.~tur<) S or the Pre s i de nt or Vi ce Pre s ident a nd Secr etary orAs s i llt:urt Cecr e t ary . Ei ther or both of said s i gnat ure s t:lllY be a t aesi.rn U esi~turf,: . A eertiti C:'lot e b ook sMll be maintained i n 'lthich sl'.ail b e sh""",the I1tll:lC of the ",ember , the certifica.te =OOr, date of 18sue , and a s1J.f':i c i cntdc sc::-lption or the l at upoo whic h such ::e:::bership i s ~ed. Only CIOe certi.!'i ­cate..-1 be i ssued to a ::!C!'lber. rega...~ss of the nu::obe:l' of l ats <JoI't>ed .""""bershi p or tho:: Devel.oper need. nat be e vidanced by eerearaeeeee of =be=h1p .

1l.e=!>crsh1po:; in the A$socia.tion are tra.=rc=ble only upon the cO!l~yance of t helot g1v1JJg rille t o such IllCl::bers hip and any other atteI:lp'ted t = fer or !WsibD­,"e Dt or such """'lber llhip shall be null and void . Trnns f'e r ll of record \lh i ch occur'by r cs " oo of the c onveytUlee or any l ot s ub s equent to t he init i a l c oovcyo.nc e frQllt he Deve1aper ( or , IUlY other devo1ope r i n thc cns e of an ape.rtr:cnt or 1i ving uniti n a OIu.1t1 p l e < =i.l.y o:hI'elling) sb:'loll be subJect t o a tee or $5 . 00 and t o pay::rentof all lndebtedne" s t o tl:.e Associat ion or the ..r:cbe:r 'IIho6e ::leI::he.-::.h1p is trans_ter:t'ed .

Ne<::bers lIM il be entitled t o exercise all of the r igh1;s am. privUege" of """"her_s hip herein de = r1bed =d they lIhall be s ub j ect t o ul.l. of the cb11gntiom, ec'ldUa"!Jllities t hereof, Ili t h o,,:!; the tLCt uaJ. lllS\l&.nCe and p«;"essi llll of eertif1e:-t.e:>of "''''''bert>hip; provided, h""e~r, t hnt the A"lloc i a t i llll shnJ.l incur no l iab i lit yf or failure t o gi ve :-dequate notice to ",,,,,,ber,, not 01' r ecord.

Ge ct i on 6 . Me=ber,;.h ip Cardll .

The 1W6ocia:;100 =y tUlle cards t o eeeeeee trar:l t1::c to t 1.::le a s the Boar1! = ydee::! :)ocCSMry t o nasu.--e proper cont.rol. am ide nt t t1ca t 1on .

section ·t. Lot De~.cript1= .

~Lotw ::lOOJlS any ml:ibered 10t as designat ed 00 the t 1n9.J. llubd1vi.sio:ll recorded ::lII.p$

6.00 l nc1.wll l!8 ~oy subdirlsian thereof once dul.y :recorded •

r..e As&ocla :t i oo shall have the powe r to lJ:Yy rm1!'o= ar::nual aD:!. special a.sses:> ­:!lents &ll herein se't t orth . AU. &,!;z,es=e!Its ahal..l be~d a:> an ann=1 bosiaor pn.ld t o t.hc M &oc1.lrtlon in 1nstl>.U:::elIt:::: , &:I ""'::; deten:llned by 'the Boa.-d .

15

Jo:uc h year t he Boord s hall e ons i de r t he current und fut ure needs oi: t heAncociat ion and , in l ight of such neede , pace by r ecol ution a buil,<;et undt he =ount of u.nnu.n.l Mses "",ent t or ?U1'1'O'J e C other t hun ca p i tal iJ:::prove _,"cnte or a.cquiliition to be levied. against each l ot in t he de ve1.oP'!ent .Each liuch unnual. nzseSS':lent shall b eceme a d eb t 01' t he "'erri!>er , wh<>ce l.otor l.ots are c o ll.Scessed . Any i ner e=e in t he a.'1ll.ual o.ccesme nt s hall r-e ­quir-e a pp r oval. oi' t he ",,,,,,b e r n h i p b y a In3.jori ty Yot o: of" those votinC . Th ebudget = y i nc l ude an =ourrt not t o exceed 20 percent 01' t he t otal b ud<;c.>tt " r !'uture capi tal. :!::np rovements or acquisit ians . Such p orti on, if" notexpended , lihal.l b e ccm e cap i tal. r-ecervec of t he Accocist i on und chal.1. lIotbe expended for non-c:l.pital purpoce s 'Ilit hout t he app r oval. of" t he = ber _chip by a =jority of t h ose vot ing .

Section 3 . SPecial. AscesSI:lentc .

Special a cs e ssrnent s ms.y b e made by the Bo&'d upon u deterr::dnat i on 1.>y thema jori t y of' t he "'emb e r s whose l ots are eo a eeesoe c. , tha t cueh o.ccecsroeuti s no ee scary t or cap i tal. :!::nprov=ent s of the Aos ccaet ace property or t orpurpoces rel.a.ted to the healt h , carety und " ellure of such mceber s , Noepeei a l a s s e s sment sha l l be l e vied -.lit hout benefit 01' u h "..aring t or whichut leus t 20 day::; ' writ ten n otice shall b e given to allcember s ""ose l ot sare erreceea 't.hez-eby ,

Se c t ion 4. Notic e .

The Secreta...-y chail F..a.i1. t o ea ch ,"ember whos e lot i s ass e s ce cl, "t cuch::::""bcr 's record acld.re s s , writ t en not ice 01' each ann ual Or cpec i e.l a ssc ss_"'e,rt and t he t:!::nc and l:lanner 1'= payme nt t .nerecr a.t l eo.st tvo 'Ileek:; priorto the t iroe such a line DSl::e n t "hAll b e c = c due and payab le .

S..c t i on 5. Su.~neneion .

The As ,;ocia t i OCl cliil.l n ot be r e qui.red t o t ranstcr c Cl:lb erships on it" booksor to allO',; t hi _e:o;<:er<: i :;c 01' a.."lY r ights or privi.1.e ges oJ: Itlet:lbcr shi p on "",,countt l'.ere o±" t o any ,"emb er or t o any per-e ceo c l.a.il:ling u'ldc r t hem un1.e,; ,; apJ. unt il.all =se s=ent,,- and chargc:; t o which- such mellib<lr s h i p c are sub jec t helve beenpaid-;-

Sccti on G. Li e n .

The ",,,0u."'It 01' any lli: s e s SItlcnt , plus any other c harges thereon, LYJcl udip.g i n ­ter est a t 12 per c ent per == fran date o~ delinquency and coot c 01' c ollec_tion, i ncluding a ttorneys ' t oes , if' a.."J::I , ehall c o=titut c and b cc=e a U"non t he l ot :;0 u.cs ess ed whe n t hc Bourd eause e to be recorded i n the off i c e01' t :he CO'U.tCty Ilecorde r at S i s k iyou, Ca.J.if"ornb, a n otice o±" =se~"",ellt which,;ha.J. l ,;tate t he = onnt 01' such m,s e s = ent , and s ue}, other charge" nnd udeccription 01' t he l ot " hieh reo been a s ce li:.;ed. Such n otic e s hall be " i gn edb y the Sec rct n.ry 01' t he M ",oc iation . Upon payment o±" lia id s.sses=cnt U!lUchargec in c ccrec t acc with whic h cuch noticc hus b ee n s o r Clc ordecl , Or other~atistaction t he reof , tho Beard s hall caWle to be rec orcled a fUrther noti ceetating the s a t i s tact i on a..'Vi the eeaceoe o±" t:he l i en t he r e ot .

II

II•

1I

~t.l<m 1 . Pri ority o~ Ll~ .

::uch li= ::hall be pri or to all otbe:" liens reeO'l"de<i lrubsequen't t o s.:lld noUe.'!of """""s:>:X!!lt. except t hat. 1.1eoo of f"1r!;;'t ",ortgases or deedJ> at tr\lst incurredror t he pu::-pooc of constructing a res idence or oth= 1.:lpr~nt and which arereeanled i n ece eeeeoee with a ppUca.ble :Lav s hall be superior t o a.oy and a llr.ueh lie " provided !:or herein .

Sne'Li,m 8 . Enfor cement .

The lien provided he= in ':J3CI be foreclosed. b y (mi t. by tho Jul"oei at i on in J.1kct!I&Ulc r as (I. a1Ol"tgage &ld in s uch e vent , tho Msoci at i Oll =s b e a bidder at a.fo.-cclosUl:'e ceae , The As3OC1o.t icn t:a.y ease pursue any other remedy 3.gilinstany t:eI:Ibcr ov1ng lllocey t o i t vhlch i s a vaiUlblc t o :it by lay fcrr t he c olle<:tionof debt. .

~ Boe:;rd of D1=tm's i s ease aul;hort:ed to suspend""tbe ~..s and ;.r1~

of ~ tlC:Ibcr of the Assoc1.at1cm. u;>= f'aU~ to J'4Y s...::h due:; and eeeeeeeeeeeV1.t.hi.::l. thirty ( 30) d3,y:;; a.t'tcr~ i s due .

A.'tT ICIE VI

_moo(1l.) Til;:!! M a PJ.ae" of MaCt. l ngll

Meet!"&" of mOllibcrs "hall b e held a t a 't :!l:le 0.00. pl3ce de" i gno.t.cd b y tile vrittcnnotice f or s uc h :cctin,g .

(b ) Annual~ings

An =ual "lCCt1r.g shall be held each yeas . The purp<>se of :;uch =.nl ceet;ill&"s !la.U be t o e Q:ml der report" of the af'!'a1r:; at the Ass ocia"tion, t o e 1ce't aBoe:;rd of Director.: a.v.d to t ran:::AC't sueh otber bm:1ness = =.;I pro:l)erl,y bebrou,ght bd'cre the =et.ing .

(e) 5nec18J. Meetings

3po:>c ial ::>eet~ 01' t he =ec'bert:; may be called and held a 't any = oo::tbl e 'timeal)1 p b "" by vri't'ten not-tee the rea!" b y the Presi de nt , 0:: b y My tva dire<:torGof t he k;Gociatioo a.n:i :IlW: 't be e~llcd by 'the Pre:; i de nt upon z-eeeipt of' 0. vri 't'tenr e <;.uc s 't fr<Jll 10 per ce nt or ::lore oC tJi e YOtilltl pOYer or t he As s ociat i on . ~ueh

:;pcc i a l mcct i nef> sho.ll be ho l d. a t the time: arxl p lace designo.ted by 'la i d noti ce ,which eh::u1 not- b e sooner 'than :f' if'tc cn ( l ~) d.4y':; n.ftcr 'the g i ving of' not i ce of'th" cs.l.llng 3nd p bce or such Gpcc i all::eet:1llg , 3ub j cct t o chan<>e in t 1z:le, placeand I"r oeedtlrC tar the call1.ng o:f' special c:ect1ngs b"-.f duJ.y odopted = c nd:::ent tot hese By - I""...:; .

(d) ilo't1.,., of )lc<:ting:;

lfot1.,.,s of' tho calling am. plac:e o:f' : cct 1l:>g::) , s.nn=1 <Ulli t:pCC1aJ., shall be givenb y the Ze<:re-ta.-y er Ass i S'talrt &c=eta-.-y to .sll =be= or 'the Al;sociat.1oo . Inthe ca=;e or a C:ul.ure by s UtCh o:f:fic= to give not1.ee or a properl,y enl.led :leet1.."lg,:>:lS o:f':f'iccr , ~tor, 0:: """"bcr =y gi_ noti ee o:f' ::l du11' c Alled ::>ec1;i1!e. lla U ces,.lnll be given in wr i t ing nat J.c&S than :f'i:ttccn (1:;) I2YS nor :::ore 'than G1."ct.y (60)d:!,y's ber= the nal.d1n,g or any ar.nrml or special ::lCCt:l.ng , and =Y be g i ven b y pre­p8.i d = n , pcrsCltlo..l delivery, or ather eeano to t he M<lrcSll o r: each = ber in t her ec ord:; or t ho Ar.s oe i nt ion.

•

(e) Q\;OrU:::

'l'hc preceacc in per.lo:l. or by prCJQ' or tbe b oldc..-s IIi' iIO per<::ent or t he~_

ship e::t.itlod t o vote at any meeting sbs.l..l. eonstitu"-..., a qW)n.l:l to'" the trans.<><ott"" or budness . 'l'be =bers present at a d uly ea.lled or held l:lCeti llB :l.t'IoIhieh a quoru::t is pre s ent 'IM!.¥ eont inue t o do busi ness unt il Mj~::t. , :lOt·Withstnndi.n<!: the vithdrn.wal or eoough = ber" to l eave less th:ln a qu= .

(r) Aiij ourond Mccting~ and Notice Thereor

Iwy ",~s' ::lee'tiPeS , =u::u or speeiaJ., ....here i n a quoru:::! ~ prescot, J:I&y beadjourned fl'cc t1J:le to t1I:lc by 'the vote or (l, z:;aJm-ity or the votin<l VOIleI' presentin person or r<..opres.eoted by prory.

When any lXQbers' J:>eetina , e i ther =ual or cpeciaJ. , i s a.dJourned t or l'..1nety ( 90)<l.a,ys = more, notice of' tke a.dJaurned ::ee't1l:lg shall be giwn as b the eaec or "'"or4;1.n.a.l 1:lOet 1ng; othe..~sc i t shall not be necessa...""Y t o give <mJ" notice 0: t.hcU.~ =d pl&ee or t he adJourned :oect1l:g ar or t he business to be~t.ed

thcre6t , ather th::I.'1 b y srolOUl:lCa:ent at tile ::oet 1.ng a t which such adjou...-menti s tak.,., .

11" nny ",eeting, speci al or annual , cannot be l:cld far l.e.cir. or a. ......=, tho sa:c=y be ndjcPl.U"tled, as hereinabove p..··ovtded (but no other busines s =Y be tra:x:.: ­&ctcd a t &."'lY s uch ",,,,,,tins ) t or a period ot not les s t han 48 hours oor marc t han90 dll.ys !rem the t 1J:la t he original meet i ng vas calle:l, at \/hieh adjourne d c<.-'etirll>the quorum re<luire"",nt shall be reduc~ t o t he precence in per-c on or by pl' Q;o(y ofnot les ::; t hwl 25 percent 01 the voting peeer ,

(g) Vottn<;;

:except ec ot.l1crv1<>e prov1ded b y 1.::....., only ::>l!lCbcrs in " hoo", = ~rs.b.1ps

ent i t led to vote stand a:l the rec:CJ!"ds at the As s oc: i a.tiOll OIl the =eord date torvoting po.:rpcc:e::; , ri;md lL6 prov1dcd 1n Article IX, seetaee 1 or these By-Ia.... c ,sha.l.l be entitled to vate at l;w:h ::::oet 1ng. Sucl1 vote =toy be via. voice or byballot . Exr::cpt = o:;hc.~se provided heroin, cae." ::e:>ber is cnt1.t l.c!d t o eeevote ~ar each 1 0:; awned by lili:I . ::::very cecber e ntitled to v<;rte a t any el.ectiOl!.~= d1.rectorll sMll have t he rl.,ght t o e\ZIu1&te his vote~ and gi..... 0IlC caDdidate0. m.::::ber or votes equal 'to t.he Du::;b.... at d:l.rect<r!: to be e l ected =ul.t1p.lied byt he m.l::lbe:" ~ vif..., ::; t o which be i::; entitled, or t o d! lo"tr!bute hi:; vat,,:; on theS=e princi ple Stlocg ec mo.ny Cs..ndidat<:!6 0.:; he th:1nks t it . The ca.'1d1d:otcsreceiving t he hig.""st n~ber o~ votea, up t o t he m""b",r or 'U rector a t o bec l l'etcd, ap.a.l l b e e l ect ed .

(h) Proxie s

'eve ry cembor enti t led t o vote or execute ecececec ::ha.ll have the t"ight to <10 Soeither in pcrsOll or b y 811 agent or a,gents ::t.uth<r1.zed by :l llt"itt.en proxy e:mcuu.><!by such =bel' or his duly llutbo!"1.zed lIgen't and r u..d vith the 8ect"e'ta.ry or theAsSoc:1.atiOll; pr<;JV1.dad th9.t no s ucl! prCJQ' sba.1l. be valld &tter the <:;l;JIL""lltiw orelewn ( il) mOllths fra::l 'the date or i tos exccutiOll unless the pen:al exe<:utiQS i to::;pecil"ies therein the length or t i::e t or ..'hieh such pr'(Xy is 1;0 e mltinue i~ toree,...Meh in no event s hall exceed. seven ( 7 ) years fl'a: the date: or 1.~ c::xe<::ut1.oo.

•

•

(1.) Pa.:I' 11~ Proee<l.u:re

The AsSoc:1&t :l.CID Pres ident. or Vic e -President s lnl.l presi de at a.ll ""'e't1ll&& a!::~be=. and 'the Assoc:\.at;:l.OlJ Scerctary or Ass15t.azrt 5ec~ sball s-eecee, theerecece or aU ::>eetings . In ease of the eeeeeee or such o!1'1een;, t he vat:tne;eceeers cay elect 11 ehlUrc&n ar the !:lCCt1..l:l8 and a recording secretary. to.lJ.l'Icetino; sh!l.ll 'be eood=ted in a.ce or<lAncc ' rt:t h the l'\UeS at ptLrJ..ia:,>ent3ryprocedure set f orth in Robert 's Rule s of Order tI.S Revis!!,!.

ARTIClE VII

n"""""'"

:;ecti on .l. Dirc<::t=s .

The ~&1rG or t he kosoda.t l 00 s ball be~ b y a :lloard ot DL.~ eon­flirting ot at lc:1st :f:h "" (5) b\rt nat e.xe~ s """,n (1)~.

::e<:tlQ!l 2 . Power:; .

Subj ect to &.'"1Y llJ:dtations or ~ Articles or Inearpat"(l.ti O:ll , r:Jt t:.hc:::e By -lo._ ,:>.nd or tbe General IIOIIi>rot1t Corpora't1a:l. La.v at Cauroroill., ::L:Jd subject to t hedut i e s or diroc'tors as prellc r ibcd by t hese By- lo.vs , all c orporate :P<"'I"rs at t heAss ociat i on ahoJ..l. be exe re reee b y or under t he authority ot , and the b uzincSBand afi"a.irs or the As s oc1.atl Cl'l shall b e c ontrolled b y t he Iloorcl of Directors .Wit hout preJudice t o such general. p ccero , 'but 6\lb j cct t o t he = c l iI:litat l ons ,it i s hereby expr es s ly de.el.!U"ed t h:l.t the d 1rect or:; s b.::l.ll bcve the f ollOlo"inElpower-s :IS stated bel."", _

The J>OI«:r:l at the Board of DL""eCtO!:"'C s M.ll include a P""'"eI:' t o e s tabll.!ili dues ,k7Y eceecceceeo , 3-">Ii enforce the pa.y-...errt thereof' b aceCll'danee with these By­ra >lS ; to <l.d.op't SDd pl'blls h rule" am.~tions~ t1K: use or the:;:r:-cperti~ ~ ~ti.1ties or the A:<sOC i a:t ion 4Dd t bc~0Ila.1 c: ocduct or:=her:'> =d guests th=t:a:I.; "tO a.~ MilT~at p lM <i=e-.:til -~e="

:>gents , sna~I:O'Y""''' or the Associ.at. i a:: ll:Id- to presc:nbe 'their dutie t; 3Jldc:a::;>en:>.et.ion ; t o "U;X:I"V1.t;O 'the perf=nee ar 'the dutie :: SDd rcsp<mZi bi1.1tie sor a ll ot1'ic:e:r::; , ~cnts , and e:::ployccs or t he A::;:;ociat ion j to eerceee t heC:<:mmants , condi tie:tm :wd restriction:;. pcrta.1ning t o a.1.l lDts anC pa...--eels 1."lthe lG=:at h River Count ry Estates SubdiVision ; a:ld t o take tUl """'-sure:: ..,hichtlle 1l<nrd or D1r<::etors in i t :: d i s c r e t i on s h.3.11 <1eeo. t o be f or t he be"t i :rt.erestsor the Assoc i a.tion a.nd i t s membe r 5 _

~;ccti<Il 3. Election and Tenuro: of 0f1'1ee .

The d1r<::ctors s hall b e cl.octed by b<:IJ.lot .:>.t tbe a.",ma.l. =>eating or 'the ",e::,be rt<,t o =r= rOT anc (~) year or unt.U t heir l:ucce::sors are ol.ected 8l:Id ho.ve qu:>.li ­fied . ~ <:It the Boa..-d. or Direc t or:: ::.':Iall be cl.cc:ted by a. pl.urnl.1ty ort.ho:> VO""..cs =t at the """,,,. t =eeUng or the :x:::bE:rs or the e 01pma t1on. The1rtoe,..", or at'fic:e s hls.ll begin ~tcly~ eaeeeree •

secl.iOll IJ . Vac::mc1es .

V"""'-""1es 11:1 'the 1loard or~~ be filled by a :::&,1ority or t h<> raoa.inin,&<U.rcct=, or by:l. s ole recs:1zU.nl:; d1rcc:t or , and each d1rcctat' so ele<::tc<1 :>h.:>.llho l d o.'Xicc unt1~ hU ,;aCCCGs at' 1::;e~tcd :l.t nn tmIIL:."1.l J:lOO't1n,g of ::IC::lbcT:: or::>t " spe<:1w. :lOOting called rar t ho.t purpose .

•

IThe =>=boer:; :ay ",t ~ t:L:ie c led " <Urect.ar t o tm ":J;f =y not f"i.lled bythe ~<:r.;, a:Id =y c1.ec:'t the adllitianaJ. d1Te<:tars at 'the :oe't1.ng :l.t \lh1ehan """,nd::xmt or t he By-La'4'& i t voted :wtll.or1z1:llg lU:I in<:rGQ£Q in tho~~

d1r=tors.

A v-:u:.arv:.y or- VlLC60c1.e s shall be~ t o ex111t in case or the death , rcl:l tol'l ­t10n or I'e!l0\lS.1 or tu!y d1re<::'tQr , OI ii' t he lOe=:1>er:; shal l merecsc t he author1=<!.numbe r oj' dira<:torll but sh:l.ll f aU at t he mooting at which cuc h inc:ro= e i llauthorizcl , or o.t an adj ou:r=en t thcreo1: , t o c1.ec t t he s.ddit i <.n'1.l d irector60 provided. tor , or in cace t he eeecec-c tall o.t any time t o elect the :fulln\.Cber or authorized d.1re<,:tOl'C .

U the l30Rrd of DL....,,,t ors &l:C:epts t he res1Dl8tian of" a d1reetQr" t endered t o1;.O.ke errect at a t"Uture t1::le , 'the Board, err the eeaeera, shD.ll have pcr.mx- t.oelect a eccces ece t o t".lLke of't100 vhen the res1l!;l!o11t1ov. shall eeeeee effective .

Bo reduct101l of the = 'ber ot d1.rec1;<=; 6hall have the e!'t~t of r=<>V1nC; :::.n:td 1.r="tar prior to the exp1..··u;Uon or M.!l 'ten:! at at!"1ce .

~-Hon 5 . Rc=ovnl ~ raeeeeeee,The entire Boa..-d of Directors or ~ 1D:lJ.v1.dul:lJ.~ ::lIlY be r=ovcl rra:office b y 11 vcee or :::l~S hol.d1ng a =jority or tlx:: tataJ. vote:: of t he l:Xl::ber ­llh i p entitk'<l t o vote at an e1.e¢t i = or directors . 1I0'w'eVC%' , unlcst t he e ntireBoa.r(l. i s re::loved , nn i ndi vi (l.\llLl di r ect or ::hall nat be r ccoved if the nUOlb cr ofvote" eant :l8Qlll!:t the resoluti on f or h i " rcmovnl exee eds the quoti ent :J.rt"ivcuat "'hen t he totoJ. n=bex- of outstnndi.ne veeee ent i t led t o vote is divided byone p l us t he authori "cd number or di :reetar:; . If' any = oJ..l d.1r'eet ors es-c 00re:::oved , nell d1rcct=s = y be ele cted. a1: the eeee ",eati ng.

Secti"" 6 . Pl.9.ee of M=t1..y:: .

)lee't1.:lgs of t he B<:oud or D1reet<re ::;h::lJ.1 boo beld 0::; Wl;;f p1=c ....1t..'l.1n the SUiteof Call:torn1a deeigmtcd by resol.utioo at the Bo9.rd of D1rcctor'S or writtenconsent of all or the mecbcrs at tile Boa:rd. Any !:eating llball be =Ud,\/herever bel4, it 'Jri.ttcn canzent thereto is given by all ::.a:ben: or the B<nrdat DL-octars e ithex- bd'aro or s.."'tex- the -.::ect1ns and i:; :rUed llith the 3ecl"Ctaryat till! Association.

:Jec t i on "r . Orga.nj za.t ion Mcct1!l!)s .

The organ1 Ul.t i on ilK ]t i ng e cd: the Board or D1X'C<: t or:; s hall b e hel.<1 = cdiat c lyfollO"o"ing the 3.d,joornme nt of t he annual. mooting:; of" t he member.; .

f>ection 8 . other R~ Meetinp:; .

ReguJ.ar oeet1ng:; at t he Board af' Di=ctors shall be hel.d at the A:: :;oc1.atiCI:I<.Jf"tiees, QI'" such atbe!' pLace &3 ~ be dO;'!e1gnlted ;,y t he 1kllud of Direct ort:a t such t lJ:cs as ebAll be cksignated ;,y resohtUon. or the Boo..-d at m eeeeeee ,If' said i'.B.y sball f a.l.l l,IpCCl a hoUday, such oeetin<:; "h.:L.ll be heM ce C>e ne;rt.

llUCceed.ing b w; 1ness day tbere&1"te.. . Bo notice need be givcc at t be Ol"gll:ll.i~

t 1 00 = n>,.."U1ar l:Iee'tings at t he 1loe.rd. or Director'S _

Scction 9 . Cne c iill M<>et:!pg r; - Not i c e s .

Special meetinge or the B=d of Dirc ctors for any pur'pcc e ck>.ll be called a tany t i= b y the Prcs idcmt or i f ~ ie ab ecnt or unable or eeruccc to n.ct, b ya:ny Vice l'r€s i dent Or by c.ny two ae-eceee e,

Written not i ce or t he tiIoo a nd p l&c" or special mee t ings s ha1.J. be del i ver edl'e rr;onully to t he d i rector G or s ent to each director by l ette r or b y telegt"8.'Ol ,ero;;-r,ec prepaid , addre::;ted to hiJ::l at his addre ee ",", it in ::;hCt'Nn upon t he recordsof the kl::; oc iatian , or if it rc nat co s hown on s uch r ecords or is not r eadilyasee;;-t a inablc , at the p1=e i n which the meetings or t he directors are rcguJ.,arlyheld . I n ea " " tnch notice ie miled or t e l egral >/l",l , it ::;hall be depos ited i n t heUni ted St " tcc = i l or del i"""'ed t o the t c l e g;;-8.? h e ct:lpan,j'" 1."l. the p.l.c.ce i n which theprincipli o1'1'i ce or t he Association is l ocated a t l e " s t 48 hourc p r ior t o t he til'-.eof the holdi ng or t he lClecting . In CMe such not i c e i s delivered ao above -provi.ded,it shall be co de1.iverOO at l eact 24 hourc prior to t he tiroe of t he " o l d i ng of t he"'eeting . Cueh rnaD.i~, t elegraphing or delivery as above provi.,led cht<ll be due ,le/::" l anU personal noti ce t o GUCh d irec.t or .

' .cction 10 . Waiver of Not i ce .

Whe" all or t he directors are present; 8.t any directors ' I:leet i ng, h ".'ever calle dor noticed, ."\.Ild sign a writt en concerrt thereto on the records o f such ",eetil"-<': ,0 ,," , if a "'8.j ori t y or the direct ors are p r e se nt , and i 1' thO&e not preGe nt signin writ ing a = i "",r or not i ce of ::;uch ",ceting , whether prior t o or a.f'te;;- thehol d i ng or s uch ",e<'t i ne, wh i c h caid =ivcr s hall be filed <nth ~he Se cretaryor t he A3SOCiaticn, the trans actions the reo1' arc as valid 8.C i1' had at a.mcctine I"Cgula,r ly ca lled a nd noticed .

f'.cction n . Di rec t or s Ac t i ng Without 8. I~ine .

Any act ian required o r permitted t o be t a l""n b y t he 1l<;a....-d of Directar-s "'I'l.y betaken 'Ji t hout a meeting and "ith t he =c f orce n:ld e1'1'ect as if texcn b y aUIumim= yote of directors , U a uthori zerl. by (; "T iting Gigne d by all ,""""bel'Sof the Boord. Such cooeent shall b e filf'd with the reguJ..sr ", i nutes 01' the""N.

Sec t:! <m )." . Notice or Adjourmelrt .

I,ot i ce at the ti'''e 3J'ld pla.ce of h olding an adjourned ",ef'tine need not be g i vent o a"bsent di= c"tor::; i f the t iJ:Ie ::md pla.cf' be fixed at the :neeting"o.djaurnod .

3ecti·)[l l 3 . QUOrul:l .

A =jority of the n=-ber o:f direc tor::; 8.S f ixed by the Articles of Ineorpo::.-s.t i onOr By-L.."wc ch3.11 1><> nCCCG::;o.ry t o constitute a quor= :for "the uranoactacc ofb U3ineo,; , ::md t he =tion of '" = j o r i t y or the directoro prcccnt at n.ny ",cctingat which there is 8. quorum , "hen duly n:;s"",::'lcd, is =li d a ::; a corporat e act ;pr ovided t hat a minority of the director s in the absence of a quorum mr.y:J.djourn frm ti.r:oe to 'l.ime but may not tI"<l.r'.cuct busincGs .

II

I

5eetion l Eo . ~C\lt1vc C<E::l1'ttee .

lIZJ. ceeeoerve eeeeteeee =:&)1 be api'Qi!lted 'by resolution p11Ssed by .c =JOrityat t blo vhol.e BoB...""d. '!'be exec;.-tive eeecreeee shall bee~~ :: hersor tbe :ik.>a='d, and sbeJ.l have sue!> p<:JIICrlI as =y be expressly dcl.eg;:l.tcd toit by re:::ol.ution at the Boa..-d or OU'eetors . I t sl:nl.l act cm.l¥ in the ilrt.er­vol:: bet\lceI:. ::Iet;'t;1.ng:l or 'the BOIll'd ~ .::Iha.U be sti!;lJect at all t1:le:: to theeCKltrol or t..'le Boe.rd at Director::; .

Se cti on 15 . Directors' Ca::pcuS1l.t1on:; .

D1.."'Cctot"<; ' Ccr:tpellSll;t 1 0ll, ti' 8.DY, " hal.l. he approved by t h e mecber::: .

ARTIClE VII I

O~"'FICIDG

Se<:t1an 1 . Ge~.

Tbc aN'1C&..'"'S at 'the Alll::oeiation clI::l.ll. be a ~s1dentJ one or ::ore VicePres1d=ts , a 3eeret.ary and a Tre&;urer . each or whee shall be el.ected bythe Boo..-d. 'Zbe Msoc:1.a;t1<;C1. = y al..s o MVC sw:h ather ott'1oors, 1ne],yj1l1l'iOIlC or core Assllito.llt $e<::nrt;arics, as ::tl.y be app<>iIl'-..ed by the BotIrd.ot't1.ec= , ather 'tJn."1 tbe Pres1~. Deed not be dL'"'eCt= . One persall:=:ly hold two or :l0lr0 aN'1cc:>. except. 'tho6e at Pre:>iderl and seereta.....,..FnclI ott1cer ctIa1.l h ol.d b.1s arTiee UJrt;u bel ::.h:I.ll. res ign or s b.DJ.l. be ,.."".,wodor <Jt.her-.-ll>e d icqua.ll.t1od t o "e.-ve . ar h:1s sucC=scr :;..':.aJ.J. be el.oeted andquallriec; prov1.dcd thIlt ott'ice...-.: =.:T be appointed 0.1; any tieo by 't.'le BoB...""<l.for the pIII'pO:;e or initially ~1.lli.:J,g an atticc ot: f :ill1n8 a ncvly Cre:1t.cd

ee VCCMt orr1ce .

!>e<::t1on 2 . R=ovnl and Ren1gr:..at ion .

Ally arfiee r T:JaY he reecvea, e i ther " i t h or wi'thou't ca usc , b y e, ca.jori 'ty or'the direct or s i n office a t the t imc , a.t any l"i"gul= or ~peciAl ::lC(' 't i ne of:the Board .

tiny otT i cer =y rcG1gn a t I1IJy t ime by g 1V1ng 'OTitten not i e e 'to the lloard ort o the President , or to the sec reta."-y of the Azsco:: iat ion. ArJ:t ~uch re&:igw.­tion ~h3J.~ take effect at the <!.at e of the ~eipt of such notice or a t an:ylater t1:!e s Jl'CCU'ied thereb, and, WIl.eSI: otherwise specU'ied 'thcre1.n , theacccpUl.:l.ce or such rell1,g::lll.tion £hall nat be noecessary t o ::;ake it crre<:t1V" _

section 3 _ veeeecaee •

A vaeanc:y 1.::: a.~.y ot'fiee because or d=th , rc::1gx>ation ,eat. ioD or any other e~ sha.l..l be f'Ul.ed. 1.n the ~

By_ray,; f'or resw.v.r ll.~S ee such artice .

~:ect.i= IJ- . Pre::idrmt .

r=0'0'1l1, <lisqu3.lii"i _.,rl!:;crfl)cd in~

IThe Pres idc:lt , vho " hIIJ.~ be ChOSCD f'r<;c the Boord, sh.::LU 'be the Cldef' E:tccut i vcoff i cer of the A:::::: oe i a t l on nnd shall, &ub,1 oc t t o the co~ at: the Bou..""Il. , hallClle ne:ro.1 supervi"' lCl11 , direction, and coll"trol at the busines & aDd officers of thelIss .x: i :.t!cc. llc::h:lll prczidc at llllcccting:: or the "'Cl:lbcr:: :l.l¥l or the Bo<l.rd .

""...

He shall be a.., ('.x offici o J:;er:;ber of all the st:l.nding e=it t ecs, if a.V,:lIrl nll3l1 h:w c t he g enc= l pa.;ers 3.lld dut i e s of l1lall8.genent unual.ly vestedi n t he office of pI"<'sident of a c orporat i o n and. such other p ower s and d ut i e s~ m"'.v b e prescribed b y t he Ilmrd or these By- favs .

Section 5. Vice Presidents .

L'1 t he abse nce or disabil i t y of' the President , t~e Vi ce Pre::; ident s in orderof t heir ran!< a..',; f' ixea b y t he Boord, or if" not r::l.nked, the Vi ce Preside ntd.es igna.t e<l by t he Bmrd, shal l perr orm a1.l t h e d1Xt i en of the Presi dent , = d·...he.'1 s o act i ng , shall have nll th<o pO'; ers of "lld be sub j ect t o a1.l the re­strict i ons '-'Ti0n t he President . The Vi ce Presidents shall have suc h otherpover -s and perf= such other dut i e s ns =y be pr e s cribe d f or thGl!l b y t heBoard, the PreSi dent or thes e By - Lawn .

Sectien 6 . Sec r etary .

The S<'c retary shall keep or ca u se t o be kept , a t the :princ ipal oi':f i e e or 5ue hot her pl.e.ce as t he Board may order , a b ook of minutes of t\ll meetings ofd i rectors a..,d member s , or a duplica t e t he r eat, 'With the t iJ:le and pJ.a.ce orhold i ng , Yh<>ther r egular or special, and tl spec i a l , hOY a u t h orize d, thenot i ce t hereof' g i ven , t he =es of those pres ent a t d ire<: torn ' l:leCt ing::; ,t he numbe r of =c=b e r s hips pres ent or represented at m~bers ' ~etin;;s , andt he ;)r oc eedines t hereof .

The Se c r e t = y shall kBe p or cause t o be kept , i n a.ny fort:l :;>em i t ted by laY,"t t he p r i nc ipal off ice Or such ot he r pJ.a.ce = the Board r:m;y order, a m"",ber ­sh i p reg i :;te r , or a dupl i cate t he reo f , chowing t he r=es of' t he m= b crs :l.ndtheir addres s e s , t he d e ccri ption = d number 01' l ots , i1' more t haI] one , upon·...hich such ,"eriber ship i s b ased, the n umber and t he date of n mbershi:p ce rtii'i ­ca t es i CiJued, (k"ld t he number and date of cance llat i on or mCJ:1berchip ccrtif"i ­ca t es surrendered f or cance llati on .

The :::ec ....c tary uhaJ.l give , or cause t o b e g i ven , noti ce of al.l the !':!eet i nesof t he rn= bcrs a..-..i or t he Bcer-d require,," by t he n" "By-illY" Or by In·... to be&i""n, ana sh:l.ll keep t he SecU of: the A::; s oc i a t i on in ca.1:e cust ody , =c. shallrove such other pmo'ers and pcr1'= such ot her dut ies a s may be prescribed bythe Boo...""<l, the PreGi ,l cnt , or t hese By-illvs .

Section T. Trensurc r .

Th e 'l'res.su..-er " ha1.l kee p nnd In--,.inta in, or c"usc t o b e kept = d =int'Joined,"" "'1"'....1.e ,, 00 c orrect accounts of the properties 3..'1(1 bus i ne s :: t ransactions 01:the A.~ sociation o' i..,c 1udiDll account" of i ts ::os::;ets , lia b i l i tie s , r ec eipts , d i ::; ­llu;mmentn , gain~ or loo~"s . The b ook;; of acc ount sh....:L1 o,t t\ll t :i=s b e opent o i =pecti on b y any direc t or .

The 'rrBuz-u:::-cr shc.ll uq os i t ,,11 ,"oni es and ath= valuable s i n the = ez of andt o the credit of' t he A::;soc:iation wit h suc h d epos i t or i e (l as =y be d e signatedb y the Beard . He ::;hall d i sburs e t he f'unls of t he A<: s oc i at:ion = may b e orde redby the Beard, shall render to the Preside nt ::ond direc t ors , yhcncy= the y J:e'1uc<:;tit , an acc ount of 0,11 of h i s t r:msact i ons :los Treasurer and of the 1:illiJ..'1cialc ondition of t he As s oc i at i on , a nd s ball have such other pv.rers a.'1d perf= s uchother duti e s a s !"..ay be p r escribed b y the Beard, t he ~sident, or thece By -lays .

Section 8 . cn'ficers and Urrp~o):"fZS Cc:r:roensa t i on .

Of"f"iccrs ' and Employees C=pens a t i on , if any, " hall be approved by the Boardof Direc t ors .

AmICLE XX

Sect i on 1. Record Da.te .

The lJoord m:/ :rix. a t:!l::le in the future as " r= ord date for t h e dcte=ination01: t he mmooer s entitled t o notic e of a nd t o vote a t any ,"eeting of m""'her s .Tl'.e record cete Co fixed shall n ot be ",ore thsn thirty (30) days p r i or t o thednte of the me eting . When a record eee e is ;00 :rixed, only mecbe r-s o:r recordcc that do.tc ",all be e nt i t led t o notice of and t o vote a t the rocct ing, not­\lit hsta.nding any t ra.'lCf er of or issUll..'"lc e ell: meI:ibernhip cert i U cat e s on theb ook" ell: the llilGocia t i cn ::ti'tcr t he r ecord date .

Section 2 . Iru:nect ion of Re c ords .

The :::t= bersb i ? regis ter or du p l i ca t e mm b ership regieter, the b ook.<:. o:f acc ountand :::tinutes of p r oceedi.Ilg" of the melllbers , the Beard und c=ittee s , i f :my,shall b e opton t o in:>pectiOD upon t he W!" i tte n d.eIJand of s-'1;{ mecber a t anyreasonable t im e a..'1d f or " purpose roasonnbly reLat ed t o hie intereste eo "POInber .

Section 3 . Cp..ccks a m. Draft" .

All checks , dra.:fts or other orders ~"" payment of money , notes of· other evi_d ence " of fndetrtedneue issued i..., the n=c of or payable t o the As::ociationshall be s i gned or end orsed by such person or persons nnd in such ",mm= "" ,f'r crn tiI::e t o time , s hall be detem i ned b y resolution of the Board .

Se ction 4 . Annua l. ACCOWlting .

An independ"nt a.udit of the accounts of t he Ans ociatioo shall be ",aU.e not lat "rthan nixty ( 60) days aft er the end of' thc 1"illCa.J. yes:r , a.nd" c opy of the r eportnhal l b e fu.-nished to each ",e",ber not less than f U'teen ( 1)) dayn p r i or t o thes-'lIlU1l.1 :::t" eti ng or the Association m=bc r s .

:;ection 5 . Execution or Contractn .

'.!'he Beard , except as m y be othcr1<i s e p r ovidc,l i n t ncoe By - Lawn, =y autncc-tae&..'1.Y officer or o:f:fi cers , agont or agents , to enter into &..'1.Y c ontract OJ: execute:.my inzt=ent or doc= ent i n the naee of and on bebuli' of toc lw"ociution = dnuch author i ty ::Jay be gener- a ), or c onfined t o spccif'ic imltance" . Unlcs " other _vise npeeU'ic r.lly dete:mine<'. b y t he 1loa.rd or othen ri s e r e quired by la\l , :fo::mleont r o.c t :; , prmissory notes and other evidences or i ndebtod.'lOs s , decd~ or t :t"'l.Wt ,",ongagcs and other COX'l'ora t e instr= cnts o r d OCUlIlents requiring t he c orporat esc"-.l, shall b e executed, s i gned Or endcr-aed by t he Pre sident ( or :my ViceI'I-<:n i dent ) and. by the Secretary ( or any Ansisto.nt Secretary) or Tre=u.rer .

•

Secti oo 6 . Seal.

n>e seer. or the J'"z::: oc:ia.ticn :::~ be in the 1"= or 't'Jo e mccntr ie careaeewith the W<Jrdl; n..::c~;th Ri~ Country E::<mte.. Owners ' Assoc:la;tion, Inc . ",ppcar­1ng betveen ::aid eircles in t he uppe:' periphery, the "-ord ~C:all!'orn1&ft ( incaps) tt.ppca.........ng 1.D ~ l.cn.-e:- periphery and the <!.ate or 1ncorpal"3t:iOD apyea.-1"8in the eeeeee t bereot" . w"be:1 tbe atfix1ll,g cr t he seal to =.:t 1n...-tru:em 1::appra;...-tate , the = c =y be dane by -.:; or 8. :::cta.:l <lie e:ws1n6 an 1.::lPreS:;ionat l:3.1d :;eal ...... by =. icp:rint at" 'the vords &xi 1'igl...."'"CS at the &ea.l in the eseet=::l 'the:rcQ:f .

~titlll J . L!;oit ,,;t:5C1l. or POII'ers .

No eatt r&ct t:ba.U be entered 1nt.o V1t h the Deve10per whieh binds the Ass oc l&t:i=tor a period in excess 01' one ye&J: wi:th QlZt ree<:0D5b1e eanec llati Cll ~lC1U'iind uded therei n .

The A.sO OCi lltiOO shall not incur debt in exec .. .. or $3, 000.00 per YCJJ:r :fw t he~M.sc or real. or ~<JD;),1 property, tbe i :;:;U8l:lCe or b O<:l<l.s or debcaturea , orthe "'ortg::'>gc of any or i ts property vithrot the pr i or vote or wr i t t en CQrlSentof II !:l!LJority or i t>; o= 'l>cr s entitl.ed. to vote .

t.ection 8 . Ins;pcetion of By . l£IWlI .

The Mcoci o.t i on shall ke ep in i t a principal oftiee r or t he tr=o.etion 01' budnesst he or i gioo.l or a eopy or too By_!lJ.'l/o :l.:j &IIended or oth=w1ao altered t o dat e ,eertified. by tbe 3eer etary, " hieh s hoJ.J. be open t o inspeet i on by t he ",embers "-ta ll re8..'l<:.it1Mlc ti:!!es .

Gectioo 2 . Pl1moluti on.

L"l the event at" t he d15501uti oo of the As:;oc1.aticn, eecn = be:r 1I00J.l reeervehi:; pro rota portion or the Maocl.,.t lOtl '1l p:ropcrty am. as~5 arter a.ll or it:;4ebtc (l.rJd l1.:lbU1t l es 1'.ave been p&1d or provided far .

Nev By-Lal/':) :lay be .:ldaptcd or these !X-La...... ?Ill be 8::'.epded or J"l":'"'CC ' r:<! W thelIoff1.I-..atlve vote or "Titt= emsent at a =aJan.ty or the voelpg t!!M:!' of theA&&od atilX>•

25