HomeMy WebLinkAbout0702 of the wtes Qf each class of Members who are wting in persan or by proxy at
a meeting duly called for this purpose, written.notioe of which shall be sent
t~o all Members at least thirty (30) days in advanoe and shall set forth the
purpose of the meeting.,
~ ~ Section 6. Change in Basis and Maximnan of Annual I~sses:~nents. S1~bject
to the limitatirns of Section 4 hexeof, and for the periods thernin specifi.ed,
the Association may change the maximtun and basis of the assessments fix~ed by
Section 4 hereof prospectiv~ely far any suc~ period provided that any such change
shall hav~e the ass~a~t of two-thirds of the .wtes of e~ch class of Mt~ers, who
- are wting in person or praxy, at a meeting duly called for this purpose,
written notioe shall be sent to all Members at least thirty (30) days in a~lvanoe
and shall set forth the purpose of the meeting, provided furthex' that the limi.-
tations of Sectioa~ 4 hereof shall not apply to any change in the maxim~n and
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basis of the assessments imdert.~ken as an inciclent to a merger or oonsolidatiori ~ ~
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in which the Associatian is authorized t~o participate ~~er its Articles of
Inoorporation and Article II, Section 3 hereof.
Provic3ed, further, that no change in assessme.nts affecting the
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Developer shall be made wiY.hout the oansent of the Developer first had and i
cabtained.
Sectian 7. Qu~onan for Any A~tion Authorized Under ~
Section 5 and 6. ~e qu4run requiYed for any actian authorized by Secti~s 5 =
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and 6 hereof shall be as follaws:
~ At the first meetina called, as rovided in Sections 5 and 6 hereof, ~
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the presenve at the meeting of Mgnbers, or of praxies, entitled t~o cast sixty
(60) peroent of all the wtes of each class of m~nbe.rship shall oanstitute a
c~u~onan. If the req~ured qu4nan is not forthoaning at any meeting, another meet °
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ing may be called, sub~ect to the notioe requirement set forth in Sections 5 and ~
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6, and the required quorun at any such subsequent meeting shall be~ane-half of ~
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the required quonun at the preoeding meeting• j
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Section 8. Duties of tl~e Board of Directors. The Board of DirectArs f
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~ of the Association shall fix the Dat~e of Catmenoarent and the a¢nount of the
~ assessment'against each Living Unit for each assessnent period at least thirty
~ (30) days in advanoe of such date or period and shall, at that time, prepare a
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~ roster of the pY~operties and assessments applicable thereto whicfi shall be kept
in the offioe of the Association and shall be open to inspectian by any Owner. '
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~ Written notice of the assessnPnt shall thereup~ be sent to ewery Owner subject ~
there~o.
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BORM ~8~ FAG~ 7O1
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