The name of the
corporation is VICTORIA PARK HOMEOWNERS' ASSOCIATION, INC., hereinafter
referred to as the "Association." The
principal office of the Association shall be located at 14th Floor Norton
Building, Seattle, Washington, but
mMeetings of
members and Trustees may be held at such places within the State of
Washington, County of
King, as may be designated by the Board of
Trustees.
Section 1. "Association" shall mean Victoria Park Homeowners' Association, Inc., its successors and assigns.
Section
2. "Developer"
shall mean Transamerica Development Company, a corporation, and Georgia
Pacific Investment Company, a corporation, as joint
venturers.
Section
23.
"Trustee" shall mean a member of the Board
of Trustees,
which manages the affairs of the
Associationthe National Bank of Commerce or any
successor Trustee holding title to the common
properties.
Section
34.
"Properties" shall mean that certain real property
described in Article III of the Articles of Incorporation, and such
additions thereto as may hereafter be brought within the jurisdiction
of the Association.
Section
45.
"Common Properties" shall mean all real property owned
by the Trustee or the Association for the
common use and enjoyment of the members of the Association and shall
not include any streets or other areas dedicated to public
use.
Section
56.
"
Section
67.
"Member" shall mean every person or entity who holds a
membership in the Association.
Section
78.
"Owner" shall mean the record owner, whether one or
more persons or entities and specifically including the
Developer, of the fee simple title to any lot or lots
which are part of the properties, including contract sellers, but
excluding those having such interest merely as security for the
performance of an obligation.
Section
89.
"Declaration" shall mean and refer to the Declaration
of Covenants, Conditions and Restrictions applicable to the properties
recorded or to be recorded in the Office of the King County
Auditor.
Section
10. The term "The
Development Period" shall mean that period of time from the date
of recording of the Declaration until the date on which seventy percent
(70%) of the properties now or hereafter platted on the property
described in Exhibit "A" attached to said Declaration have
been sold by Developer, or until such earlier date as may be agreed
upon by the Federal Housing Authority and Developer. In
any event the "development period" shall terminate on
September 15, 1971.
Section 1.
Membership. Membership in the Association is
as defined within the Declaration. Every person
or entity who is the record owner of a fee interest in any lot or lots
which are subject by covenants of record to assessment by the Developer
named in the Declaration or by the Association, shall be a member of
the Association: Provided, however, that if any lot is
hold jointly by two (2) or more persons, the several owners of such
interest shall designate one of their number as the
"member." The foregoing is not intended to
include persons or entities who hold an interest merely as security of
the performance of an obligation. No owner shall have
more than one membership. Membership shall be appurtenant
to and may not be separated from Ownership of any lot which is subject
to assessment by the Developer or the Association except that the
incorporators shall be eligible for membership without regard to
ownership of an interest in the properties. Incorporators
who are not owners or contract purchasers of any lot subject to
assessment shall cease to be members of the Association at the
expiration of two (2) weeks from the date of incorporation of the
Association. Upon transfer of the fee interest to any
lot, the membership and any certificate of membership in the
Association shall ipso facto be deemed to be transferred to the
grantee. Ownership of any such lot shall be the sole
qualification for membership.
Section
2.
Suspension of Membership. During any period
in which a member shall be in default in the payment of any monthly or
special assessment, the voting rights and right to use of the
recreational facilities by such member may be suspended by the Board of
Trustees until such assessment has been paid.
During the developmental period the Board of Trustees
shall be required to exercise such right upon the request of the
developer. Such rights of a member may also
be suspended, after notice and hearing, for a period not to exceed
thirty (30) days, for violation of any rules and regulations
established by the Board of Trustees governing the use of the common
properties and facilities.
Section 3.
Voting Rights. Voting rights
of members
are as defined within the declaration.
No person shall have more than one (1)
membership regardless of the number of lots owned, and the interest of
each member shall be equal to that of any other member, and no member
may acquire any interest which shall entitle him to any greater voice,
vote or authority in the Association than any other member.
In the case of lots owner jointly by two (2) or more persons,
only the joint owner designed as the "member" pursuant to
Section 1 of this Article III shall be entitled to
vote.
In the event that the
Non-Profit Corporation Law of the State of Washington as set forth in
Title 24, Revised Code of Washington is changed to permit one member of
a non-profit corporation to exercise greater voting rights than another
member, voting shall thereafter be according to the number of lots
owned, that is, members shall be entitled to one vote for each lot in
which they hold the interest required for membership by Article
IV. When more than one person holds such interest in any
lot, the vote for such lot shall be exercised as they among themselves
determine, but in no event shall more than one vote be cast with
respect to any lot.
Section 1. Each member shall be entitled to the use and enjoyment of the common properties and facilities as provided in the Declaration. Any member may delegate his rights of enjoyment of the common properties and facilities to the members of his family, his tenants or contract purchasers who reside on the property, and, subject to regulation by the Board of Trustees, to his temporary guests. Such member shall notify the secretary in writing of the name of any such delegee. The rights and privileges of such delegee are subject to suspension to the same extent as those of the member.
Section 2.
Irrespective of the fact that Section 1 (b) of Article VI of the
Declaration gives the Association the right to charge reasonable
admission and other fees for the use of any recreational facilities
situated upon the common properties, this right shall not
be exercised as to members for a period of five
years from the date of the recordation of the Declaration, and after
this period, only upon written approval of two-thirds
(2/3) of the entire membership.
Section 1. Number. The affairs of this Association shall be managed by a Board of not less than five (5) nor more than nine (9) Trustees, who need not be members of the Association.
Section 2.
Election. At the first annual
meeting, which shall be held not later than six months from the date of
incorporation of this Association, the members shall elect three
Trustees for a term of one year, three Trustees for a term of two
years, and three Trustees for a term of three years; and at
each annual meeting thereafter the
members of the Association shall elect
three Trustees for a term of three
years to fill expired or unfilled
positions on the Board. If the
members do not elect a
sufficient
number of Trustees at
the annual meeting to achieve the minimum
requirement, the Board of Trustees at their
regular meetings may appoint persons to the
Board to achieve the
minimum.
..
The term of office for persons elected by
members at the annual meeting shall be for
three years, and shall
begin on the first day of
February 1 following
the annual meeting at which they were
elected. The term of membership for a Board member that
is appointed by the Board shall be from the date of appointment until
the next February
1st..
Section 3.
Removal. Any Trustee may be removed from
the Board, with or without cause, by a majority vote of the members of
the Association. In the event of death, resignation or
removal of a Trustee, his a
successor shall may
be selected by the remaining members of the Board and
shall serve for the unexpired term of his predecessor.
Section 4.
Compensation. No Trustee shall receive
compensation for any services he may render to the
Association; however, a trustee may be awarded a gift or
gifts by the Board of Trustees
in
recognition of
meritorious service, and
the cumulative value of
all gifts that are awarded to any one trustee
may not exceed $100 in any
given calendar
year.
HoweverAlso, any
Trustee may be reimbursed for his actual expenses incurred in the
performance of his duties.
Section 5. Action Taken Without a Meeting. The Trustees shall have the right to take any action in the absence of a meeting at which they could take at a meeting by obtaining the written approval of all the Trustees. Any action so approved shall have the same effect as though taken at the meeting of the Trustees.
Section 1.
Regular Meetings. Regular meetings of the
Board of Trustees shall be held monthly without
notice, at such place and hour as may be fixed from time to
time established by resolution of
the board; however, the Board shall hold a meeting at least
once each calendar quarter.
Should said meeting fall upon a legal holiday, then
that meeting shall be held at the same time on the next day which is
not a legal holiday.
Section 2. Special Meetings. Special meetings of the Board of Trustees shall be held when called by the president of the Association or by any two Trustees, after not less than three (3) days notice to each Trustee.
Section 3.
Quorum. A majority of the number of
Trustees shall constitute a quorum for the transaction of
business. Every act or decision done or made by a
majority of the Trustees present at a duly held
meetings at which a quorum is present shall be
regarded as the act of the Board.
Section 1.
Nomination. Nomination for election to the
Board of Trustees shall may
be made by a Nominating Committee that is
appointed by the Board
of Trustees, . Nominations may
also be made or from the floor at
the annual meeting. The Nominating Committee
shall consist of a Chairman, who shall be a member of the Board of
Trustees, and two or more members of the Association. The
Nominating Committee shall be appointed by the Board of Trustees prior
to each annual meeting of the members, to serve from the close of such
annual meeting until the close of the next annual meeting and such
appointment shall be announced at each annual meeting.
The Nominating Committee shall make as many nominations for
election to the Board of Trustees as it shall in its discretion
determine, but not less than the number of vacancies that are to be
filled. Such nominations may be made from among members
or non-members.
Section 2.
Election. Election to the Board of Trustees
shall be by secret written ballot or by voice vote.
If a motion is unanimously passed by members in
attendance at the
annual meeting to utilize a voice vote
to elect members to the Board of
Trustees, the voice vote method shall be used;
otherwise, a secret
written
ballot is required..
At such election the members or their proxies may each cast one
vote. The names
persons receiving the largest
number of votes shall be elected.
Section 1. Powers. The Board of Trustees shall have power:
(a) To adopt and publish rules and regulations governing the use of the common properties and facilities, and the personal conduct of the members and their guests thereon, and to establish penalties for the infraction thereof;
(b) To exercise for the Association all powers, duties and authority vested in or delegated to this Association not reserved to the membership by other provisions of these By-Laws, the Articles of Incorporation, or the Declaration.
(c) To declare the office of a member of the Board of Trustees to be vacant in the event such member shall be absent from three (3) consecutive regular meetings of the Board of Trustees; and
(d) To employ a manager, an independent contractor, or such other employees as they deem necessary, and to prescribe their duties.
Section 2. Duties. It shall be the duty of the Board of Trustees:
(a) To cause to be kept a complete
record of all its acts and corporate affairs and to present a statement
thereof to the members at the annual meeting of the members or at any
special meeting, when
such statement is requested in writing by one-fourth (1/4) of the members who are entitled to vote;
(b) To supervise all officers, agents and employees of this Association, and to see that their duties are properly performed;
(c) As more fully provided herein and
in the
Declaration:;
(1) To establish, levy and assess, and collect the assessments or charges referred to in Article VII, of the Declaration, as applicable to the Association; and
(2) To send written notice of each assessment to every owner or contract purchaser subject thereto at least thirty (30) days in advance of each annual assessment period.
(d) To issue, or to cause an appropriate officer to issue, upon demand by any person, a certificate setting forth whether any assessment has been paid. A reasonable charge may be made by the Board for the issuance of these certificates. Such certificate shall be conclusive evidence of any assessment therein stated to have been paid;
(e) To procure and maintain adequate liability insurance, and to procure adequate hazard insurance on property owned by the Association; and
(f) To cause
all officers or employees having fiscal responsibilities to be bonded,
as it may deem appropriate, and
(g)
To cause any common properties owned by the
Association to be maintained.
Section 1. The
Association shall appoint a Nominating Committee as provided
in these By-Laws, and upon termination of the developmental period,
shall appoint an Architectural Control Committee to
perform the duties and functions described in Article IX, Section 2, of
the Declaration. In addition, the Board of Trustees
shall may appoint other
committees as deemed appropriate in carrying out its purposes, such
as:
1. A Recreation
Committee which shall may
advise the Board of Trustees on all matters pertaining to
the recreational program and activities of the Association and shall
perform such other functions as the Board, in its discretion,
determines;
2. A Maintenance
Committee which shall may
advise the board of Trustees on all matters pertaining to
the maintenance, repair or improvement of the common properties, and
shall may perform such
other functions as the Board, in its discretion, determines;
3. A Publicity
Committee which
shallmay inform the
members of all activities and functions of the Association and shall,
after consulting with the Board of Trustees, make such public releases
and announcements as are in the best interests of the Association;
and
4. An Audit
Committee which
shallmay supervise the
annual audit of the Association's books and approve the annual budget
and statement of income and expenditures to be presented to the
membership at its regular annual meeting as provided in Article XI,
Section 8(d). The Treasurer shall be an ex officio
member of the Committee.
Section 2. It shall be the duty of each committee to receive complaints from members on any matter involving Association functions, duties, and activities within its field of responsibility. It shall dispose of such complaints as it deems appropriate or refer them to such other committee, Trustee or officer of the Association as is further concerned with the matter presented.
Section 1.
Annual Meeting. The first
annual meeting of the members shall be held
within six months from the date of incorporation of the
Association, and each subsequent regular annual meeting of the members
shall be held on the same day of the same month of each year
thereafter, at the hour of .
.on a Monday, Tuesday, Wednesday, or
Thursday during the month of January.
If the
day for the The annual meeting
of the members is shall not be held
on a legal holiday, the meeting will be held at
the same hour on the first day following which is not a legal
holiday.
The actual date and location of the
meeting shall be
established by the Board of
Trustees
Section 2. Special Meetings. Special meetings of the members may be called at any time by the president or by the Board of Trustees, or upon written request of the members who are entitled to vote one-fourth (1/4) of all of the votes of the entire membership.
Section 3. Notice of Meetings. Written notice of each meeting of the members shall be given by, or at the direction of, the secretary or person authorized to call the meeting, by mailing a copy of such notice, postage prepaid, at least 15 days before such meeting to each member entitled to vote thereat, addressed to the member's address last appearing on the books of the Association, or supplied by such member to the Association for the purpose of notice. Such notice shall specify the place, day and hour of the meeting and, in the case of a special meeting, the purpose of the meeting.
Section 4.
Quorum. The presence at the
annual meeting or at a special
meeting of members entitled to cast, or of proxies
entitled to cast,
one-tenthtwentieth
(1/210) of the votes of
the entire membership shall constitute a quorum for any action except
as otherwise provided in the Articles of Incorporation, the
Declaration, or these By-Laws. If, however, such quorum
shall not be present or represented at any meeting, the members
entitled to vote thereat shall have power to adjourn the meeting from
time to time, without notice other than announcement at the meeting,
until a quorum as aforesaid shall be present or be
represented.
Section 5. Proxies. At all meetings of members, each member may vote in person or by proxy. All proxies shall be in writing and filed with the secretary. Every proxy shall be revocable and shall automatically cease upon conveyance by the member of his lot.
Section 1. Enumeration of Officers. The officers of this Association shall be a president and vice-president, who shall at all times be members of the Board of Trustees, a secretary, and a treasurer, and such other officers as the Board may from time to time by resolution create.
Section 2. Election of Officers. The election of officers shall take place at the first meeting of the Board of Trustees following each annual meeting of the members.
Section 3. Term. The officers of this Association shall be elected annually by the Board and each shall hold office for one (1) year unless he shall sooner resign, or shall be removed, or otherwise disqualified to serve.
Section 4. Special Appointments. The Board may elect such other officers as the affairs of the Association may require, each of whom shall hold office for such period, have such authority, and perform such duties as the Board may, from time to time, determine.
Section 5. Resignation and Removal. Any officer may be removed from office with or without cause by the Board. Any officer may resign at any time by giving written notice to the Board, the president or the secretary. Such resignation shall take effect on the date of receipt of such notice or at any later time specified therein, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.
Section 6. Vacancies. A vacancy in any office may be filled in the manner prescribed for regular election. The officer elected to such vacancy shall serve for the remainder of the term of the officer he replaces.
Section 7. Multiple Offices. The offices of secretary and treasurer may be held by the same person. No person shall simultaneously hold more than one or any of the other offices except in the case of special offices created pursuant to Section 4 of this Article.
Section 8. Duties. The duties of the officers are as follows:
(a) The president shall
preside at all meetings of the Board of
Trustees;, shall see
that orders and resolutions of the Board are carried out; shall sign
all leases, mortgages, deeds and other written instruments and shall
co-sign all checks and promissory
notes; and shall cause an annual
audit of the Association books to be made by a public accountant at the
completion of each fiscal year.
(b) The vice-president shall act in the place and stead of the president in the event of his absence, inability or refusal to act, and shall exercise and discharge such other duties as may be required of him by the Board.
(c) The secretary shall
record the votes and keep the minutes of all meetings and proceedings
of the Board and of the members; keep the corporate seal of the
Association and affix it on all papers requiring said seal; serve
notice of meetings of the Board and of the members; keep
appropriate current records showing the members of the Association
together with their addresses, and shall perform such
other duties as required by the Board.
(d) The treasurer shall
receive and deposit in appropriate bank accounts all monies of the
Association and shall disburse such funds as directed by resolution of
the Board of Trustees; shall sign all checks and promissory notes of
the Association; keep proper books of account; shall keep
appropriate current records showing the members of the Association
together with their addresses; cause an annual
audit of the Association books to be made by a public accountant at the
completion of each fiscal year; and shall prepare an
annual budget and a statement of income and expenditures to be
presented to the membership at its regular annual meetings, and deliver
a copy of each to the members.
Section
1. Creation
of the Lien and Personal Obligation of Assessments.
Annual assessments and special
assessments shall be levied by the Board of Trustees in the manner as
defined by the Declaration.By the Declaration,
each members is deemed to covenant and agree to pay to the Developer
during the developmental period, and thereafter to the
Association: (1) annual assessments or charges, and (2)
special assessments for capital improvements. The annual
and special assessments, together with such interest thereon and costs
of collection thereof, as hereinafter provided, shall be a charge on
the land and shall be a continuing lien upon the property against which
each such assessment is made. Each such assessment,
together with such interest and costs of collection thereof (including
reasonable attorney's fees) shall also be the personal obligation of
the person who was the owner of such property at the time when the
assessment
fell due. The personal obligation
shall not pass to his successors in title unless expressly assumed by
them: Provided, however, that in the case of a sale of
any lot which is charged with the payment of an assessment or
assessments payable in installments, the person or entity who is the
owner immediately prior to the date of any such sale, shall be
personally liable only for the amount of the installments due prior to
said date. The new owner shall be personally liable for
installments which become due on and after said
date.
Section 2.
Purpose of Assessments. The assessments
levied by the Developer or the Association as hereinafter provided
shall be used exclusively for the purpose of promoting the recreation,
health, safety, and welfare of the residents in the properties,
including without limitation, the construction, establishment,
improvement, repair and maintenance of the common properties and
services and facilities related to the use and enjoyment of the common
properties, the payment of taxes and insurance on the common
properties, and the payment of Trustee's fees to the Trustee appointed
hereunder.
Section 3.
Amount of the Annual Assessments. The
amount of the annual assessments shall be as
follows:
(a) During
such time as title to the common properties is held by the trustee, and
subject to the provisions of Section 6 of this Article XII each owner
shall pay the developer the amount of TEN AND NO/100 DOLLARS ($10.00)
per annum per lot (subject to increase pursuant to the provisions of
this Section 3 and of Section 4 of this Article XII) which shall be
used for the purpose provided in Section 2 of this Article XII and for
no others. The extent of the expenditures for the
purposes specified shall be determined by the Developer, subject to the
provisions of Article VI, Section 4 of the Declaration.
Said annual assessment amount may be increased during the
developmental period by a vote of two-thirds (2/3) of the members
voting in person or by proxy, at a meeting duly called for such
purpose, written notice of which shall be sent to all members not less
than thirty (30) days nor more than sixty (60) days in advance of the
meeting.
(b) Upon
termination of the trust and conveyance of the common properties to the
Association, each owner shall pay to the Association a maximum annual
assessment of TEN DOLLARS ($10.00) per annum per lot (or in the event
that said amount has been increased as provided in the preceding
subparagraph (a) or in Section 4 of this Article XII, the amount as so
increased) subject to the provisions of Section 6 of this Article
XII: Provided, that said maximum annual assessment may be
increased or decreased by the Association with the consent of
two-thirds (2/3) of the members voting in person or by proxy, at a
meeting duly called for such purpose, written notice of which shall be
sent to all members
not less than thirty (30) days nor more than sixty
(60) days in advance of the meeting. After consideration
of current maintenance costs and future needs of the Association, the
Board of Trustees may fix the annual assessment at an amount less than
the maximum herein set forth. The maximum annual
assessment may be increased by the Association without the assent of
two-thirds (2/3) of the members as provided in Section 4 of this
Article XII.
Section 4.
Increase in Annual Assessments in Conformance with Rise in
Consumer Price Index. From and after January 1, 1970,
the amount of the annual assessment may be increased effective January
1 or each year without a vote of the membership, by not more than that
amount which reflects the increase, if any, of the U.S. Bureau of Labor
Statistics Consumer Price Index (calculated on the base period:
1957-1959 equal 100) for Seattle, Washington, for "Urban
Wage Earners and Clerical Workers -- All Items", for the preceding
month of August. Said index establishes the numerical
rating for Seattle for the month of August, 1966, as 114.5.
This shall be the base rating. To determine the
percentage by which the annual assessment for each subsequent year may
be increased without a vote of the membership, said rating shall be
divided into the said Consumer Price Index for the month of August
preceding the effective date of the proposed increase.
Said adjustment percentage, if in excess of 100 percentum, shall
be multiplied by the initial annual assessment amount provided for
herein to determine the maximum amount to which the annual assessment
may be increased for the subsequent year without a vote of the
membership.
Section 5.
Special Assessments for Capital Improvements.
In addition to the annual assessments authorized above,
the Association may levy special assessments for capital improvements
upon the common properties. Any such levy by the
Association shall be for the purpose of defraying in whole or in part,
the cost of any construction or reconstruction, unexpected repair or
replacement of a described capital improvement upon the common
properties, including the necessary fixtures and personal property
related thereto: Provided that any such assessment
shall have the assent of two-thirds (2/3) of the votes of members
voting in person or by proxy at a meeting duly called for this purpose,
written notice of which shall be sent to all members not less than 30
days nor more than 60 days in advance of the meeting setting forth the
purpose of the meeting.
Section 6.
Uniform Rate. Both annual and special
assessments shall be fixed at a uniform rate for all
lots.
Section 7.
Quorum for Any Action Authorized Under Sections 3 and
5. At the first meeting called, as provided in
Section 3 and 5 hereof, the presence at the meeting of members or of
proxies entitled to cast sixty percent (60%) of all the votes shall
constitute a quorum. If the required quorum is not
forthcoming at any meeting, another meeting may be called, subject to
the notice requirement set forth in Section 3 and 5, and the required
quorum at any such subsequent meeting shall be one-half (1/2) of the
required quorum at the preceding meeting. No such
subsequent meeting shall be held more than sixty (60) days following
the preceding meeting.
Section 8.
Date of Commencement of Annual Assessments: Due
Dates. As to all lots involved, the liability for the
annual assessments provided for in Section 3(a) and (b) of this Article
XII shall begin on the first day of the calendar month following the
conveyance of the first lot to a homeowner. Said
assessment shall be due and payable on such date and on the first day
of January of each succeeding calendar year thereafter.
The first annual assessment shall be adjusted according to the
number of months remaining in the calendar year. The due
date of any special assessments under Section 5 hereof shall be fixed
by the resolution authorizing such assessment.
Section 9.
Effect of Non-Payment of Assessments:
Remedies. If any assessment is not paid within
thirty (30) days after it was first due and payable, the assessment
shall bear interest from the date on which it was due at the rate of
six percent (6%) per annum, and the Developer, the Trustee, or, upon
termination of the trust, the Association, may bring an action at law
against the one personally obligated to pay the same and/or foreclose
the lien against the property, and interest, costs, and reasonable
attorney's fees of any such action shall be included in any judgment or
decree entered in such suit. No owner shall be relieved
of liability for the assessments provided for herein by non-use of the
common properties or abandonment of his lot.
Section 10.
Subordination of the Lien to Mortgages. The
lien of the assessments provided for herein shall be subordinate to the
lien of any first mortgage (and to the lien of any second mortgage
given to secure payment of the purchase price) now or hereafter placed
on any lot. Sale or transfer of any lot shall not affect
the assessment lien. However, the sale or transfer of any
lot which is subject to such first mortgage, or purchase money second
mortgage pursuant to a decree of foreclosure under such mortgage or in
lieu of foreclosure thereof, shall extinguish the lien of such
assessments as to payments thereof, which became due prior to such sale
or transfer. No sale or transfer shall relieve such lot
from liability for any assessments thereafter becoming due or from the
lien thereof.
Section 11.
Exempt Property. The following property
subject to the Declaration shall be exempt from the assessments created
therein; (a) all properties dedicated to and accepted by a local public
authority; (b) the common properties; and (c) all properties owned by a
charitable or nonprofit organization exempt from taxation by the laws
of the State of Washington. However, no land or
improvements devoted to dwelling use shall be exempt from said
assessments.
The books,
records, and papers of the Association shall
at all times, during reasonable business hours,
be subject to inspection by any member. The
Declaration, the Articles of Incorporation and the By-Laws of the
Association shall also be available for
inspection by any member at the principal office of the
Association, where and
copies of these latter documents
may be purchased by a member at
reasonable cost.
The Association shall have a seal in circular form having within its circumference the words: "VICTORIA PARK HOMEOWNERS' ASSOCIATION, INC.", and the words "Corporate Seal Washington 1967" in the form and style as affixed in these By-Laws by the impression of such seal.
Section 1. These
By-Laws may be amended, at a regular or special meeting of the members,
by a vote of a majority of a quorum or members present in person or by
proxy, except that during the development period, the
Developer and the Federal Housing Administration shall have the right
to veto amendments.
Section 2. In case of any conflict between the Articles of Incorporation and these By-Laws, the Articles shall control; and in the case of any conflict between the Declaration and these By-Laws, the Declaration shall control.
The fiscal year of the Association
shall begin on the first day of January and end on the 31st day of
December of every year, except that the first fiscal year
shall begin on the Date of Incorporation.
These By-Laws were duly adopted by
the undersigned members of the Association and
the corporate seal thereof affixed as of the
5th
29th day of
January, 2004 June,
1968.
(Original signed by: Ben Stepper, VPHA
President Philip K.
Sweikert)
(Original signed by: Matthew D. Devine,
VPHA Vice President Dan P.
Hungate)
(Original signed by: Robert Hofford, VPHA
Secretary Richard
Morrisson)
(Original signed by: Alan Zullig, VPHA
Treasurer John C.
Longheron)