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BY-l-At't,5
OF
. t.AKEVIEUVILI-ACE
A$$OCIATION,lNC.
HOIilEOI|NER'S
:
ARTICLE I
NAME AND LOCATION. Tho niln of thr corporutlon lr lrkrvlrr Vlllrgr
Scctlon 5.. rOwnsrrr chall m€an rnJ, rcfer to thr rccord ownir, whrther
on€ or rnore p.ruons or entltler, of the fer slmpls tiilo to any Lot whlch ic a
part of the Properties, Including contract sellers, but excluding ttnse havlng
lvlEETlNGOF MEMBERS
shall be held wlthln on6 year from the dato of Incorpontlon of tho
Association, and each subsequent regular annual meetlng of the rnembersshall
be held on the same day of the samc month of each year thereaftor, at the
hour of scven orclock, P.M. lf thc day for the annual moetlng of thc
members is a lcaal holiday, the meetlng will be hcld at thc same hour on thr
Purpose of notlce. Such notice shall rpcclfy tho placb, day and hour of the
mc€ting, and, In the case of a special mc€tlng, the purpese of the rneetlng.
Sectign 4. 9uorum. Tho prosericr at thc rneeting of membars ontiilsd to
c a 5 t , o r o f p ro xl cs e n i l tl e d to cast, onG- tGnth( t/10) of the vot€s of c r c h
class of mcmborship shall constltutc . quorum for , iny oction oxcept &f
othorwisc provided fn the Articles of lncorporation, the Declaration, or these
By-Laws. lf, however, such quorum rhall nOt be pres€nt or repre$entgd at
any meeting, the mrmbere cntitled to votc thsreat shall have potv€r to adjourn
the mecting from tlme to tlrne, wlthout nbfuce othsr than announccmGnt.t th€
mGeting, until a guorum at aforesald rhatt br prcccnt or bc rcprescnted.
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I
A RT I CL EI V
BOARDOF DIRECTORS:SELECTION:TERMOF OFFICE
Scctlon t. Igglgl. The affalrs of thls Arsoclatlonshall bc managodby
a Board of two (2) dlroctorE, who nerd not bo nrnmbsrsof thr Artoclotlst.
Soctlon2. Tcrm of O[fJcs. At thc flrut snnuol msstlng lnd nnnurlly
thcrcaftcr thc mrnbom chsll rloct two dlrcctoru for r torm of ono yfitr.
Section3. Removal. Any dlrector mry b. rcmovodfrom ths Board, wlth or
without caus€, by r nrajorlty votc of thc mcmbers of the Asroclatlon. In thr
event of death, rcllgnatlon or removgl of a dlrector, hls succcroor shrll b.
selected by thc remaining msmbers of the Board and rhall sorvo for ths
uncxpircd tcrm of hlr predrcrt$or.
Scctlqlr t. $gpggg$!gg. No dlrcctor rhall rocslvl componrtlon for
any s€rvlce hs mey rrndor to tho Aroclatlon. However, any dlrector mey bc
rcimburssd for hlr actual oxpcnses incurred in thc perforrnanceof hls dutier.
Ssction 5. Action Taken Wlthout a Meetlng. The dlrectors thall havo
thc rlght to takr any actlon ln thc abronce of a rn€ctlng which thoy could
tak€ at a mrctlng by obtalnlng the wrlttrn rpproval of all thr dlroctors. Any
action ro Epprovod rhall havs tht lemt effcct u though trken at . mretlng of
thc dircctors, : '
ARTICLE' V
N OMIN A T IONAND ELECTIONOF DIRECTORS
Sj.ctlon l. Nomlnatlon. Nomlnatlon for clectlon to tho Board of
Dlroctorg shall br made by a Nominatlng Commlttrc. Nomlnatlonr msy rlco b.
made from the ftoor at the annual mcctlng. Thc NomlOatlng Commltteo rhall
consist of a Chalrman, who rhall bc a mcmber of the Board of Dircctsrg, lnd
thc next annual meeting and such rppointment shall be announced at each
annual meeting. The Npmlnating Cormltts€ shall mako as many nominatlons
for elcction to tht Board of Dlrectorr .r lt rhall In its dlrcrouon dctermlnr,
but not lcrr than thc numbcr of vlcanclrr ttrEt are to bc flllcd. Such
nominations m.y be made from among mcrnbcrs or non-mcmbcra.
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Sectton 2. E!gS!!g!. Elsctlon to th. Boerd of Dlrectorl rhell bl by
secret wrltten ballot. At such etectlon the mernbers or thelr proxlcs may
exercise under the provislons of thc Dlclaration. Tho personc recclving thc
Directors shalt be hefd nronthty wlthout tptlce, at ruch phcc and lrour rt'stty
b€ fixed from tlmr to tlmc by resolutlon of thr Boerd. Shottld Hld rnotlng
fatl upon a legal holiday, thon that rn.tlng rholl be hcld at ths 6rolo tlm on
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(f) caus€ all offlcers or employeos havlng fiscal
responsibllities
to be bonded, as f t may deem approprlate;
(g) caus€the CommonArea to be malntainted.
ARTICLE VII I
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Prcsldent
Dlrectors; shall s€s that orders and retolutlona of the Board Are crrrled out;
shall sign all lsasat, rnrtgages, dcodE rnd other wrltton Inrtrurnentr rnd
In the evcnt of hls abgance, inablllty or refusal to act, and ehall exorclle and
discharge such other duties as may bc rcqulred of him by the Board,
. Secrelary
(c) Thc s.€r.tary rhall record th. votsc end kcop thc mlnutcr of all
mectlngr and prccredlngr of tho Borrd and of tho mcmboru; koop th.
corportt rorl of th. ArocLtlon rnd rfflx lt on rll p.p.ru ruqulrlng nld
rarl; rlrv. mtlcr of rnotlngr of tha Borrd rnd of thf nrmbrrt; krrp
approprlet. curr.nt rccordr rhowlng m..nberu of tho Arrcchtlon togrthr rlth
thclr addrcgres, and chrll pcrform ruch othrr dutlm rr rcgufrld by th.
Board.
Tror,lrcr
(d) The trlasursr sh.lt rilo depoelt In approprlrte b.nk
eccounts all r$onlcs of tha Agsoclatlon end rhall dl*burrt r*lch fundr tg
dircctcd by rcsolutlon of thc Board of Dlrcctoru;
*l!-:!9.f,."":J!"..glt:ctr rnd
promissory notcs of thc Arsoclatlon; krop propcr books of sccount; causo rn
ARTICLS IX
COMIdITTEES
Thc AssocLrtlon rhall appolnt an Archltcctural Control Cornrdttr, oS
providad in th. Doclaratlon, end . Nonrlnatlng Commlttco, tt providod In
thrrc By-L-awr. In eddltlon, tho Board of Dlrrctoru rhrll rppolnt ethrr
commltts€sar d.Gmod spproprlate In crrrylng out ltr purpoec.
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of any confllct botween ths Drclaratton ond th$c By-L*in ;tf Doclaratlon
shall control.
ART!C|- E XfV
lrISCELLANEOUS
Tht flrcal yorr of thr Arcoclatlon rlull bogln on thl flmt dry of Jrnwry
and end on thc 3lot day of Docembcr of rvcr1y ysf, cxcept thst thc flrut
fiscal yerr shsll bcaln on thc data of Incorpontlon.
CERTIFIiATIO} I
l, th. undmlgncd, do hcrtby crrtlfyl
THAT I em thr duly clcctcd rnd rct|ng rccrttrry of thr lekrvlew Vlllrgc
H o m e o w n tr|l A g so c|a t|o n ,|t1 c.,aF|or |dlc9r por at|on/r ot- fot.*pfof|t.lnd,
THAT the foregolng By-laws conrtltutr tho orlgfnal By-l.awr of rald
Associatbn, a! duly adopted by wrlttrn cons€nt of the Bocrd of Dlrsctors
th€reof, cffectlvr rs of n" bh day of A.S1g3,
lg8lt.
fN WITNESSWHEREOF,I have hrounto cubscrlbed my name snd affixcd
tho rcal of rald Arcochtlon thls l&_dry of
t/d3007r
\
ARTICLE X
B OOKSAND RECORDS
Thr bookr, recordc and paport of tho Arcociatlon chall at all tlmog,
during rcasonablc burlncss hourg, bo rubJcct to Inspoctlon by any mcmbsr.
Thc Dcclaretlon, tho Artlclor of Incdrpontion and thc By-Lawr of th.
ASSESSTTENTS
As rnoru fully provldcd In thr Doclrratlon, roch metnlrtr lr obllgrtrd to
pay to the ArrocLrtlon lnnurl and rpocbf ulrrrrncntr rhkh Inr tacurcd by r
continulng llon upon thc property agnlpct whlch thl rrrecrnrnt ll sn&. Any
rrios$m.nts whlclr .r. not p.ld whrn rhall br dolkrquont.
dur lf th.
- assessment lc not pald wlthln thlrty (301 'days after the due datl, thG
assessment shall bear Interest from thr date of dcllnquency at thr rato of 5
Porcent por tnnum, and thc Assoclatlon mry brlng an actlon at lrw rgrlnrt
thr Owncr pcrsonally obllgatod to pry thc srmo or forecloro the lhn .grinct
thc propcrty, and Interert, costs, and rcrsonablr attorneyrs fses of any tuch
ection shall b. addcd to th€ amount of such aisc$Ement, No Ownrr may
weivcr or othrrwlro cscap. llrblllty for thc r*csments provldrd fsr h6rln
by nonur of tho Cornrmn Arra or abrndonrn€nt of hls Lot.
ARTICLE XII
CORPORATESEAL ,
The Ac$ctrtlon chrll havc r rorl In clrcular brm havlng wlthln ltt
circumfercncc tho words: Lakevlew Vlllagc Horpownerrs Associailon, Inc.
. AMENOIi€NTS
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