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as Common Expenses from time to time by the Board of Directors
of the Association, or under the provisions of the Declaration
of Condominium to which these Bylaws are attached, The Board
of Directors is specifically empowered on behalf of the
Association, to make and collect assessments and to lease,
maintain~ repair and replace the Commun Elements and Limited
Comanon Elements of the Condominium, Funds for the payment
of Common Expenses shall be assessed against the Unit Owners
in the proportions or percentages of sharing Cotmnon Expenses,
as provided in the Declaration. Said assessments shall be
payable monthly in advance and shall be due on the first day
of each month unless otherwise ordered by the Board of
Directors. Special assessments, should such be required by
the Board of Directors, shall be levied in the same manner
as determined by the Board of Directors. All funds due
under these Bylaws, the Declaration of Condominium to which
these Bylaws are attached and all Exhibits attached to said
Declaration are Common Expenses of this Condominium.
B. When the Board of Directors has determined
the amount of any assessment~ the Treasurer o~ the Association
shall mail or present to each Unit Owner a statement of said
Unit Owner's assessment. All assessments shall be payable
to the Treasurer of the Association and, upon request said
Treas~srer shall give a receipt for each payment made to him.
C. The Board of Directors shall adont an operating
budget for each fiscal year, pursuant to these Bylaws~ the
Declaration of Condominium t.o which these Bylaws are attached
and all Exhibits attached thereto.
ARTICLE VIII
AMENDMENTS
Section 1. These Bylaws may be amended by the Corporation
at a duly constituted meeting for such purpose, provided,
however~ no amendment shall take effect unless approved
by members representing at least 75% of the total votes
in the Condominium as set forth in the Declaration of
Condominium. .
Section 2. No amendment to the Bylaws may be made
which in any way changes the configuration or size o~ any
Condominium iJnit in any material fashion, materially alters,
modifies the appurCenances to a Unit, changes the proportions
or percentage by which the Unit Owner of_ the Unit shares
the Common Expenses and owns the Common Surplus, or changes
or modifies the.vote which may be cast by any member,
without all record Owners of the Unit and all record
Owners of liens on the Unit joining in the execution
of the Amendment except an amendment made in conformance
with Article I of the Declaration of Condominium.
Section 3. Notice of the subject matter of any
proposed.amendment shall be included in the notice of any
meeting at which a proposed amendment is considered. No
Bylaw shall be revised or amended by reference to its title
only. Proposals to amend existing Bylaws shall contain the
full text of the Bylaws to be amended; new words shall be
inserted in the text underlined and words to be deleted
shall be lined through with hyphens. However, if the proposed
change is so extensive that this procedure would hinder~
rather than assist, the understanding of the proposed amendment,
it is not necessary to use underlining and hvphens as indicaLors
of words added or deleted, but instead, a notation must be
inserted immediately preceding the proposed amendment
in substantially the following language: "Substantial rewording
of Bylaw. See Bylaw.... for present text." Nonmaterial
erro~s or omissions in the Bylaw process shall not invalidate
an otherwise properly promulgated amendment.
BDOK 349 PA~E 504