Loading...
HomeMy WebLinkAboutRC 20070320002418 - , d Return Address: City Clerk's Office11111 1111 City of Renton 1055 S. Grady Way Renton WA 98055 20070320002418 CITY OF RENTON COV 46.00 1 PAGE001 OF 015 03/20/2007 14:59 KING COUNTY, WA Please print or type information WASHINGTON STATE RECORDER'S Cover Sheet (RCW 65.04) Document Title(s)(or transactions contained therein :(all areas applicable to your document must be filled in) /� f /c,,4 &-P (19 re �sr fids s�-fCT�'I S . 3. ✓ 4. Reference Number(s) of Documents assigned or released: Ado o 7 2 oo 24 '1 ditional reference#s on page of document Grantpr(s) (Last nam first name,initials) • 1. V a Pe, �e z_z_C 2. Additional names on page- of document. Grantee(s) (Last name first,then first name and initials) 1. 2. Additional names on page of document. Legal description(abbreviated: i.e. lot,block,plat or section,township,range) e.D ,14)1a..aft'I C ak.&. CalS1%. G�.r�er. 0 6-de.__ pi)). )1 o. 2 ' V. I I . t( r _. �� ��N1111Ms ■MlZSarar' vi , i • Additional legal is on page of document. Assessor's Property Tax ParcelJAccount Number- 0 Assessor Tax#not yet assigned 33 cIz76,3lo? 33 Z7oo 70.3 7( , 334/z-7 0 0.0 7 The Auditor/Recorder will rely on the information providedon the form. The staff will not read the document to. verify the accuracy or completeness of the indexing information provided herein. I am requesting an emergency nonstandard recording for an additional fee as provided in RCW 36.18.010. I understand that the recording processing requirements may cover up or otherwise obscure some part of the text of the original document. Signature of Requesting Party • BYLAWS OF THE VICTORIA POINTE HOMEOWNERS' ASSOCIATION ARTICLE I Plan of Project Ownership 1.1 Name and Location. These are the Bylaws of Victoria Pointe Homeowners' Association, a Washington non-profit corporation(herein"Association"). The Properties are located in Renton, King County, Washington, and are subject to that certain Declaration of Covenants, Conditions and Restrictions recorded 5e,_1t/-e- , County Recording No. in the records of King County, Washington,("Declaration"). 2 00:7 0 3 2 Ooo 24'1" 1.2 Purposes. The Association is formed to serve as the means through which the lot Owners may take action with regard to administration,management,and operation of the Properties. 1.3 Applicability of Bylaws. The Association, all lot Owners, and all persons using the Properties shall be subject to these Bylaws and to all rules and regulations which may be promulgated hereunder. 1.4 Composition of the Association. The Association shall be composed of all the lot Owners of the Properties. 1.5 Definitions. The defmitions contained in or adopted by the Declaration shall be applicable to these Bylaws. These shall include the following: (a) "Association" shall mean and refer to Victoria Pointe Homeowners' Association,a Washington non-profit corporation. (b) "Board of Directors"shall mean the board of directors of the Victoria Pointe Homeowners'Association. (c) "Properties" shall mean and refer to such Properties as are subject to the Declaration and such additions thereto as may later be brought within the jurisdiction of the Association. (d) "Common Area" shall mean all real property described in the Declaration and which may later be added, and which is owned by the Association for the common use and enjoyment of the Owners. (e) "Lot" shall mean and refer to any plot of land shown on any recorded subdivision map of the Properties with the exception of Common Area. (f) "Owner" shall mean and refer to the record Owner, whether one or more persons or entities, of a fee simple title to any Lot which is part of the Properties, including contract sellers, but excluding those having such interest merely as security for the performance of an obligation. I (g) "Member" shall mean and refer to every person or entity, which holds membership in the Association. (h) "Architectural Design Review Committee" shall mean the committee appointed by the Board of Directors of Victoria Pointe Homeowners'Association. ARTICLE II Voting 2.1 Voting. Each lot shall be allocated one vote in the affairs of the Association according to the provisions of the Declaration. 2.2 Determination of Membership in the Association. Upon recordation of a conveyance or contract to convey a lot, the grantee or purchaser named in such conveyance or contract shall automatically be a Member of the Association and shall remain a Member of said Association until such time as such person's ownership ceases for any reason. Lot ownership shall be determined, for the purpose of these Bylaws and the administration of the Properties,from the record of lot ownership maintained by King County. The record may be established by the lot Owner filing with the Association a copy of the deed or land sale contract for his or her lot, to which shall be affixed the certificate of the auditors office of King County,Washington, showing the date and place of recording of such deed or contract. 2.3 Proxies. A vote may be cast in person or by proxy. A proxy given by a lot Owner to any person who represents such Owner at meetings of the Association shall be in writing and signed by such Owner and shall be filed with the secretary. No proxy shall be valid after the meeting for which it was solicited, unless otherwise expressly stated in the proxy, and every proxy shall automatically cease upon sale of the lot by its Owner. An Owner may pledge or assign his or her voting rights to a mortgagee. In such a case, the mortgagee or its designated representative shall be entitled to receive all notices to which the Owner is entitled hereunder and to exercise the lot Owner's voting rights from and after the time that the mortgagee shall give written notice of such pledge or assignment to the Board of Directors. Any first mortgagee may designate a representative to attend all or any meetings of the Association. 2.4 Fiduciaries. Any executor, administrator, guardian, or trustee may vote in person or by proxy, at any meeting of the Association with respect to any lot owned or held by him or her in such capacity, whether or not the same shall have been transferred to the fiduciary's name; provided, that such person shall satisfy the secretary that he or she is the executor,administrator,guardian,or trustee holding such lot in such capacity. 2.5 Joint Owners. Whenever any lot is owned by two or more persons jointly, according to the records of the Association,the vote of such lot may be exercised by any one of the Owners then present, in the absence of protest by a Co-Owner. In the event of such protest no one Co-Owner shall be entitled to vote without the approval of all Co- Owners. In the event of disagreement among the Co-Owners the vote of such lot shall be disregarded completely in determining the proportion of votes given with respect to such matter. Notice of the meetings may be waived by any Owner before or after meetings. 2 2.6 Landlords and Contract Vendors. Unless otherwise expressly stated in the rental agreement or lease all voting rights allocated to a lot shall be exercised by the landlord if the rental agreement or lease has an original term of ten (10)years or less, or by the tenant if the rental agreement or lease has an original term of more than ten (10) years. Unless otherwise stated in the contract, all voting rights allocated to a lot shall be exercised by the vendee or any land sale contract on the lot. 2.7 Quorum of Lot Owners. At any meeting of the Association Members holding fifty percent (50%) of the voting rights present in person or by proxy, shall constitute a quorum. The subsequent joinder of an Owner, in the action taken at a meeting by signing and concurring in the minutes thereof, shall constitute the presence of such person for the purpose of determining a quorum. When a quorum is once present to organize a meeting it cannot be broken by the subsequent withdrawal of an Owner or Owners. If any meeting of Members cannot be organized because of a lack of quorum, the Members who are present, either in person or by proxy, may adjourn the meeting from time to time until a quorum is present. 2.8 Majority Vote. The vote of the holders of more than fifty percent(50%) of the voting rights present, in person, or by proxy, at a meeting at which a quorum is constituted shall be binding upon all Owners for all purposes except where a higher percentage vote is required by law,by the Declaration,or by these Bylaws. 2.9 Mail Ballots. The board may provide for mail ballots as from time to time are necessary for the administration of the project. No mail ballot shall replace the required annual meeting of the Association as set forth herein. ARTICLE III Meetings of the Association 3.1 Place of Meeting. The Association shall hold meetings at such suitable place convenient to the Owners as may be designated by the Board of Directors from time to time. 3.2 Annual Meetings. The annual meetings of the Association shall be held in the month of November at such hour and on such date as the president may designate, or if the president should fail to designate such date, then on the third Saturday in November. The annual meetings shall be for the purpose of electing directors and for the transaction of such other business as may properly come before the meeting. 3.3 Special Meetings. Special meetings of the Association may be called by the president or secretary or by a majority of the Board of Directors and must be called by such officers upon receipt of a written request from at least thirty percent (30%) of the Owners stating the purpose of the meeting. Business transacted at a special meeting shall be confined to the purposes stated in the notice. 3.4 Notice of Meetings. Notice of all special or annual meetings of the Association stating the time and place and the objects for which the meeting is being called, shall be given by the president or secretary. All notices shall be in writing and mailed to each Owner at his or her address as it appears on the books of the Association 3 and to any first mortgagee requesting such notice not less than ten (10) days nor more than fifty(50)days prior to the date of the meeting. Upon request,proof of such mailing shall be given by the affidavit of the person giving the notice. When a meeting is adjourned for less than thirty(30)days,no notice of the adjourned meeting need be given other than by announcement at the meeting at which such adjournment takes place. 3.4(a) Waiver of Notice. Waiver of notice of meeting of the Members shall be deemed equivalent of proper notice. Any Member may, in writing, waive notice of any meeting of the Members,either before or after such meeting. Attendance at a meeting by a Member, whether in person or by proxy, shall be deemed waiver by such Member of notice of the time,date and place thereof,unless such Member specifically objects to lack of proper notice at the time the meeting is called to order. 3.5 Order of Business. The order of business at annual meetings of the Association shall be: (a) Calling of the roll and certifying of proxies; (b) Proof of notice of meeting or waiver of notice; (c) Reading of minutes of preceding meeting; (d) Reports of officers; (e) Reports of committees,if any; (0 Election of directors; (g) Unfinished business; (h) New business;and (i) Adjournment. ARTICLE 1V Board of Directors 4.1 Number and Qualification. The affairs of the Association shall be governed by a Board of Directors composed of three (3) persons. The Directors must be lot Owners. 4.2 Powers and Duties. The Board of Directors shall have the powers and duties necessary for the administration of the affairs of the Association and may do all such acts and things as are not by law or by these Bylaws directed to be exercised and done by the Owners. 4.3 Other Duties. In addition to duties imposed by these Bylaws or by resolutions of the Association, the Board of Directors shall have authority to carry out and be responsible for the following matters: 4 • (a) Care, upkeep, and supervision of the Project and the common property; and assigning, supervising assignments or approving any assignment of the use of any common elements,as may be required by the Declaration. (b) Designation and collection of annual and other assessments from the Owners in accordance with these Bylaws and the Declaration, and to select a depository for such funds. (c) Payment of all common expenses of the Association, and institution and maintenance of a voucher system for payment,which shall require a sufficient number of signatories thereon as may be reasonably necessary to prevent any misuse of the Association's funds. (d) To designate, hire, and dismiss the personnel necessary for the maintenance, operation,repair,and replacement within the Project. (e) Promulgation and enforcement of rules of conduct for lot Owners, employees, and invitees which shall be consistent with the restrictions set out in the Declaration. (f) Appointment of an Architectural Design Review Committee of not less than two (2) members, all of whom shall be Members of The Association. The duties of this committee shall be as directed by the Board of Directors and as set forth in Article VII of the Declaration. 4.4 Election and Term of Office. At the initial turnover meeting of the Association, three (3) Directors shall be elected; two to serve until the next annual meeting and one to serve until the second annual meeting after their election. Thereafter, at the expiration of the initial term of office of each respective director, his or her successor shall be elected to serve for a term of two years so that the term of at least one director shall expire annually. Directors shall hold office until their respective successors have been elected by the lot Owners. Election shall be by plurality. 4.5 Vacancies. Vacancies on the Board of Directors, caused by any reason other than the removal of director by a vote of the Association, shall be filled for the balance of the term of each directorship by vote of a majority of the remaining directors even though they may constitute less than a quorum; and each person so elected shall be a director until a successor is elected upon expiration of the term for which such person was elected by the other directors to serve. 4.6 Removal of Directors. At any legal annual or special meeting of the Association,any one or more of the directors may be removed,with or without cause,by a majority of the Owners and a successor may be then and there elected to fill the vacancy thus created. Any director whose removal has been proposed by the Owners may be given an opportunity to be heard at the meeting. 4.7 Resignation. A director may resign at any time by giving written notice to the Board of Directors, the president or the secretary of the Association. Unless otherwise specified in the notice, the resignation shall take effect on the day and at the 5 time the notice is received by the board or such officer. The acceptance of the resignation shall not be necessary to make it effective. 4.8 Organizational Meeting. The first meeting of a newly-elected Board of Directors shall be held within ten(10)days of election at such place as shall be fixed by the directors at the meeting at which such directors were elected and no notice shall be necessary to the newly elected directors in order to legally hold such meeting providing a majority of the newly elected directors are present. 4.9 Regular and Special Meetings. Regular meetings of the Board of Directors may be held at such time and place shall be determined, from time to time, by a majority of the directors. Special meetings of the Board of Directors may be called by the president or must be called by the secretary at the written request of at least two (2) directors. Notice of any special meeting shall be given to each director, personally or by mail, telephone, or telegraph, at least five (5) days prior to the day named for such meeting and shall state the time,place,and purpose of such meeting. All meetings of the Board of Directors shall be open to Owners. Such meetings may be conducted by telephonic communication. Any business conducted by telephonic meeting shall be reported in the minutes of the next regular meeting of the Board of Directors. 4.10 Board of Directors Quorum. At all meetings of the Board of Directors a majority of the existing directors shall constitute a quorum for the transaction of business and the acts of the majority of the directors shall be the acts of the Board of Directors. If, at any meeting of the Board of Directors, there be less than a quorum present, the majority of those present may adjourn the meeting from time to time. At any such adjourned meeting any business which might have been transacted at the meeting as originally called may be transacted without further notice. 4.11 Compensation of, Directors. No director shall be compensated in any manner, except for out-of-pocket expenses, unless such compensation is approved by a vote of the lot Owners. 4.12 Liability and Indemnification of Directors, Officers, Manager, or Managing Agent. The directors and officers shall not be liable to the Association for any mistake of judgment, negligence, or otherwise except for their own willful misconduct or bad faith. The Association shall indemnify and hold harmless each director and officer against all contractual liability to others arising out of contracts made by the Board of Directors and officers on behalf of the Association unless any such contract shall have been made in bad faith or contrary to the provisions of the Declaration or of these Bylaws. Each director and officer shall be indemnified by the Association against all expenses and liabilities, including attorneys' fees reasonably incurred or imposed upon them in connection with any proceeding to which they may be a party or which they may become involved,by reason of being or having been a director or officer and shall be indemnified upon any reasonable settlement thereof;provided,however,there shall be no indemnity if the director or officer is adjudged guilty of willful nonfeasance, misfeasance, or malfeasance in the performance of his or her duties. 4.13 Fidelity Bond. The Board of Directors shall require any person or entity who handles or is responsible for Association funds,to furnish such fidelity bond as the Board 6 of Directors deems adequate. The premiums on such bonds shall be paid by the Association. 4.14 Insurance. The Board of Directors shall obtain the insurance required in Article VIII of these Bylaws. In addition the Board of Directors, in its discretion, may obtain such other insurance as it deems necessary to protect the interests of the Association. The Board of Directors shall conduct an annual insurance review which, if appropriate,shall include an appraisal of all improvements contained in the Project. 4.15 Committees. Committees to perform such tasks and to serve for such periods as may be designated by resolution adopted by a majority of the Directors present at a meeting at which a quorum is present are hereby authorized. Such committees shall perform such duties and have such powers as may be provided in the resolution. Each committee shall operate in accordance with the terms of the resolution of the Board of Directors designating the committee or with rules adopted by the Board of Directors. ARTICLE V Officers 5.1 Designation. The principal officers of the Association shall be a president, a secretary, and a treasurer, all of whom shall be elected by the directors. The directors may appoint a vice president, assistant treasurer, assistant secretary, and any such other officers as in their judgment may be necessary. 5.2 Election of Officers. The officers of the Association may be elected by the Board of Directors at the organizational meeting of each new board or any Board of Directors' meeting thereafter and shall hold office at the pleasure of the Board of Directors. 5.3 Removal of Officers. Upon an affirmative vote of a majority of the members of the Board of Directors any officer may be removed, either with or without cause, and his or her successor elected at any regular or special meeting of the Board of Directors. 5.4 President. The President shall be the chief executive officer of the Association. He or she shall preside at all meetings of the Association and of the Board of Directors. He or she shall have all of the general powers and duties which are usually vested in the office of president of an association, including but not limited to,the power to appoint committees from among the Owners from time to time,as he or she may in his or her discretion decide is appropriate, to assist in the conduct of the affairs of the Association. The President shall be entitled to vote at Board of Directors meetings only in case of a tie vote at any such meeting and his or her vote shall be final. 5.5 Vice President. In the absence of the President or in the event of his or her death, inability or refusal to act,the Vice President, if any, shall perform the duties of the President, and when so acting, shall have all the powers of and be subject to all of the restrictions upon the President. Any Vice President shall perform such other duties as from time to time may be assigned to him or her by the President or by the Board of Directors. 7 5.6 Secretary. The Secretary shall keep the minutes of all meetings of the Board of Directors and the minutes of all meetings of the Association; he or she shall have charge of such books and papers as the Board of Directors may direct; and he or she shall,in general,perform all the duties incident to the office of Secretary. 5.7 Treasurer. The Treasurer shall have responsibility for the Association's funds and securities not otherwise held by the managing agent, and shall be responsible for keeping full and accurate accounts of all receipts and disbursements in books belonging to the Association. He or she shall be responsible for the deposit of all monies and other valuable effects in the name and to the credit of the Association in such depositories as may,from time to time,be designated by the Board of Directors. 5.8 Directors as Officers. Any director may be an officer of the Association. ARTICLE VI Budget,Expenses and Assessments 6.1 Budget. The Board of Directors shall, from time to time and at least annually, prepare a budget for the Association; estimate the common expenses expected to be incurred, less any previous over assessment; and assess the common expenses to each lot Owner in the proportion set forth in the Declaration. 6.2 Determination of Common Expenses.Common expenses shall include: (a) Expenses of administration; (b) Expenses of maintenance,repair,or replacement of common property; (c) Cost of insurance or bonds obtained in accordance with these Bylaws; (d) A general operating reserve; (e) Reserve for replacements and deferred maintenance as set forth in Section 6.4; (f) Any deficit in common expenses for any prior period; (g) Utilities for the common property and other utilities with a common meter or commonly billed,such as trash collection,water,and sewer; (h) Expenses of maintenance, repair, or replacement of the stormwater clarification and retention pond facilities located on Lot 7, consistent with requirements of the City of Renton;and (i) Any other items properly chargeable as an expense of the Association. 6.3 Assessment of Lot Owners. All lot Owners shall be obliged to pay common expenses assessed to them by the Board of Directors on behalf of the Association pursuant to these Bylaws and the Declaration. Assessments may not be waived due to limited or nonuse of common property. The Board of Directors, on behalf of the 8 Association, shall assess the common expenses against the Owners, from time to time and at least annually,and shall take prompt action to collect from an Owner any common expense due which remains unpaid by the Owner for more than thirty(30)days from the due date for its payment. 6.4 Reserves. A portion of the common expense collected from each lot Owner shall be placed in an account separate from the general operating account of the Association. This separate account is to be used as a reserve account for major maintenance or replacement of the Common Areas. The reserve account shall be used only for the purposes outlined in this section; provided, however, that the Board of Directors may borrow funds from the reserve account to meet high seasonal demands on the regular operating funds or to meet other temporary expenses which will later be paid from special assessments. The reserve account may be invested by the Board of Directors subject to normal prudent investment standards. Assessments paid into the reserve account shall be the property of the Association and are not refundable to sellers of lots. Sellers of lots may treat their outstanding share of the reserve account as a separate item in any agreement for the sale of their lots. 6.5 Special Assessments - Capital Improvements. In the case of any duly authorized capital improvement to the common property,the Board of Directors may,by resolution, establish separate assessments for the same which may be treated as capital contributions by the Owners and the proceeds of which shall be used only for the specific capital improvements described in the resolution. 6.6 Default in Payment of Common Expenses. If any assessment is not paid when due, then such assessment shall become delinquent and shall, together with such interest thereon and costs of collection thereof as hereinafter provided, become a continuing lien on the Lot which shall bind such Lot in the hands of the then Owner, his or her heirs,devisees,personal representatives and assigns. If the assessment is not paid within thirty (30) days after the delinquent date, the assessment shall bear interest from the date of delinquency at the rate of eighteen percent (18%) per annum. The Association may bring an action at law against the Owner personally obligated to pay the same, or foreclose the lien against the Lot and there shall be added to the amount of such assessment the costs of preparing and filing the complaint in such action,and in the event judgment is obtained,such judgment shall include interest on the assessment as provided above and reasonable attorney fees,together with the costs of the action. No Owner may waive or otherwise escape liability for the assessments provided for herein by non-use of the Common Area or abandonment of his or her Lot. 6.7 Foreclosure of Liens for Unpaid Common Expenses. In any suit brought by the Association to foreclose a lien on a lot because of unpaid assessments, the Owner shall be required to pay a reasonable rental for the use of the lot during the pendency of the suit; and the plaintiff in such foreclosure suit shall be entitled to the appointment of a receiver to collect such rental. The Board of Directors, acting on behalf of the Association, shall have the power to purchase such lot at the foreclosure sale and to acquire, hold, lease, mortgage, vote the votes appurtenant to, convey, or otherwise deal 9 • with the lot. A suit or action to recover a money judgment for unpaid common expenses shall be maintainable without foreclosing the liens securing the same. 6.8 Statement of Common Expenses. The Board of Directors shall advise each lot Owner in writing of the amount of common expenses payable by the Owner and furnish copies of each budget, on which such common expenses are based to all lot Owners and, if requested, to their mortgagees. The Board of Directors shall promptly provide any lot Owner who makes a request in writing with a written statement of his or her unpaid common expenses. ARTICLE VII Maintenance and Use of the Project Property 7.1 Maintenance and Repair. Except as otherwise provided herein for damage or destruction caused by casualty: (a) Lots. All maintenance of and repairs to any lot shall be made by the Owner of such lot;who shall keep the same in good order,condition,and repair. All maintenance, repairs, and (b) Common Property. p replacements to the common property shall be made by the Association and shall be charged to all the lot Owners as common expense. Any damage caused by a lot Owner to the common elements shall be charged to such lot Owner as an additional assessment against such lot. 7.2 Association Rules and Regulations. In addition to the provisions of the Declaration and these Bylaws, the Board of Directors, from time to time, may recommend the amendment, adoption, modification, or revocation of rules and regulations governing the conduct of persons and the operation and use of the lots and common property as it may deem necessary or appropriate in order to assure the peaceful and orderly use and enjoyment of the Project. Such recommendation shall become effective upon vote of not less than seventy-five percent(75%)of the lot Owners,present in person or by proxy, at any meeting; the notice of which shall have stated that such adoption,modification,or revocation of rules and regulations will be under consideration. A copy of the rules and regulations, upon adoption and a copy of each amendment, modification, or revocation thereof shall be delivered by the secretary promptly to each Owner and shall be binding upon all Owners and occupants of all lots from the date of delivery. 7.3 Abatement and Enjoining of Violations. The violation of any rule or regulation adopted pursuant to these Bylaws or the breach of any Bylaw contained herein or of any provision of the Declaration shall give the Board of Directors, acting on behalf of the Association,the right in addition to any other rights set forth in these Bylaws: (a) To enter upon the lot in which or as to which such violation exists and to summarily abate and remove, at the expense of the defaulting Owner, any structure, thing, or condition that may exist therein contrary to the intent and meaning of the provisions hereof, and the Board of Directors shall not thereby be deemed guilty of any manner of trespass; or 10 (b) To enjoin, abate, or remedy such thing or condition by apro riate legal proceedings;or (c) To levy reasonable fines after giving notice and an opportunity to be heard. Such fines shall be treated in the same manner as common assessments. Any expense including but not limited to attorney's fees incurred by the Association in remedying the default, damage incurred by the Association or lot Owners, or fines so levied shall be assessed against the offending lot as a common expense and enforced as provided in Article VI. In addition, any aggrieved lot Owner may bring an action to recover damages or to enjoin, abate, or remedy such thing or condition by appropriate legal proceedings. ARTICLE VIII Insurance 8.1 Insurance. For the benefit of the Association and the Owners, the Board of Directors shall obtain and maintain at all times and shall pay for out of common expense funds the following insurance: (a) On any improvements constructed on the Common Area by the Association, property insurance covering loss or damage from occurrences including, but not limited to, fire, vandalism, and malicious mischief with extended coverage endorsement; and such other coverages such as flooding, which the Association may deem desirable, for not less than the full insurable replacement value of the common property. Such policy or policies shall name the Association, and the lot Owners as insureds as their interest may appear and shall provide for a separate loss payable endorsement in favor of the mortgagee or mortgagees of each lot,if any. (b) A policy or policies insuring the Association and the Board of Directors against liability to the public or to the Owners of lots and of common property and their invitees or tenants incident to the ownership or use of the property. There may be excluded from such policy or policies coverage of a lot Owner(other than as a member of the Association or the Board of Directors) for liability arising out of acts or omission of such lot Owner and liability incident to the ownership and/or use of the part of the property as to which such lot Owner has the exclusive use or occupancy. Limits of liability under such insurance shall not be less than One Million Dollars($1,000,000)on a combined single limit basis. Such policy or policies shall be issued on a comprehensive liability basis and shall provide cross liability endorsement wherein the rights of named insured under the policy or policies shall not be prejudiced as respects his, her, or their action against another named insured;and (c) Worker's compensation insurance to the extent necessary to comply with any applicable laws. 8.2 Policies. Insurance obtained by the Association shall be governed by the following provisions: 11 (a) All policies shall be written with companies licensed to do business in the State of Washington and holding a rating of"A"and a size rating of"AAA" or better by the Best's Insurance Reports,current at the time the insurance is written. (b) All losses under policies hereafter in force regarding the property shall be settled exclusively with the Board of Directors or its authorized representative. Proceeds of the policies shall be paid to the Association as trustee for the lot Owners, or upon demand of any mortgage, to an insurance trustee acceptable to the Association and mortgagees of lots. ARTICLE IX Condemnation The Board of Directors shall have the sole authority to negotiate with any public or private body or person having the power of eminent domain; and to sue or defend in any litigation involving such bodies or persons with respect to the Common Area. Nothing in this or any document or agreement shall be construed to give a lot Owner or any party priority over the rights of the first mortgagees of any lots in the case of a distribution to the lot Owner of any such condemnation awards for losses to or a taking of a lot and/or the common property. ARTICLE X Amendments to the Bylaws 10.1 How Proposed. Amendments to the Bylaws shall be proposed by either a majority of the Board of Directors or by lot Owners holding thirty percent (30%) of the voting rights. The proposed amendment must be reduced to writing and shall be included in the notice of any meeting at which action is to be taken thereon. 10.2 Adoption. Amendments may be approved by the Association at a duly constituted meeting or ballot meeting conducted for such purpose. A vote of a majority of the voting rights shall be required for any amendment. Amendment to Section 6.2(h) of these Bylaws must be also approved by the City of Renton. ARTICLE XI Records and Audits 11.1 General Records. The Board of Directors shall keep detailed records of the actions of the Board of Directors,minutes of the meetings of the Board of Directors, and minutes of the meeting of the Association. The Board of Directors shall maintain a minute book containing the rules, regulations, and policies adopted by the Association and by the Board of Directors. 11.2 Records of Receipts and Expenditures. The Board of Directors or its designee shall keep detailed, accurate records in chronological order of the receipts and expenditures affecting the common property, itemizing the maintenance and repair expenses of the common property and any other expenses incurred. Such records and the 12 • • vouchers authorizing the payments shall be available for examination by the Owners and mortgagees during normal business hours. 11.3 Assessment Roll. The assessment roll shall be maintained in a set of accounting books in which there shall be an account for each lot. Such account shall designate the name and address of the Owner or Owners,the amount of each assessment against the Owners, the dates and amounts in which the assessment comes due, the amounts paid upon the account,and the balance due on the assessments. 11.4 Payment of Vouchers. The President shall pay all vouchers. In the President's absence,any one member of the Board of Directors may also pay vouchers. 11.5 Reports and Audits. An annual report of the receipts and expenditures of the Association and a balance sheet showing assets and liabilities shall be rendered by the Board of Directors to all Owners and to all mortgagees within ninety(90) days after the end of each fiscal year. From time to time the Board of Directors, at the expense of the Association, may obtain an audit of the books and records pertaining to the Association and furnish copies thereof to the Owners and such mortgagees. At any time any Owner or mortgagee may, at his or her own expense, cause an audit or inspection to be made of the books and records of the Association. 11.6 Notice of Sale or Mortgage. Immediately upon the sale or mortgage of any lot,lot Owner shall promptly inform the Secretary or manager of the name and address of said mortgagee. 11.7 Inspection of Records by Lot Owners. All records of the Association shall be reasonably available for examination by an Owner and any mortgagee. At or her own expense, any Member of the Association may request in writing a copy of any such records from the Association. ARTICLE XII Miscellaneous 12.1 Notices. All notices to the Association or the Board of Directors shall be sent to the principal office of the Association or to such other address as the Board of Directors may hereafter designate from time to time. All notices to any Owner shall be sent to such address as may have been designated by him or her, from time to time, in writing to the Board of Directors, or if no address has been designated, then to the Owner's lot. 12.2 Non-waiver. No restriction, condition, obligation, or provision contained in these Bylaws or rules and regulations adopted pursuant hereto shall be deemed to have been abrogated or waived by reason of any failure to enforce the same,irrespective of the number of violations or breaches thereof which may occur. 12.3 Action by Directors Without a Meeting. Any action required to be taken at a meeting of the Board of Directors of this Association or any other action which may be taken at a meeting of the Board of Directors,may be taken without a meeting if a consent in writing setting forth the actions so taken shall be signed by all the Directors entitled to 13 vote with respect to the subject matter thereof. Such consent shall have the same effect and force as a unanimous vote of said Directors. IDENTIFICATION I hereby certify that I am the Secretary of the Victoria Pointe Homeowners' Association and that the foregoing Bylaws in 14 typewritten pages numbered consecutively from 1 to 14 were and are the Bylaws adopted by the Directors of the Association. e"--N ` kteA)..14. /10.rc �r Secretary 1 KO►int-4 G. 1-v(UZE' Q 3513539-2 14 Y ` EXHIBIT A Legal Description of Property PORTION OF SW 1/4 OF NW 1/4, SECTION 32, T 24 N, R 5 E, W.M. LEGAL DESCRIPTION OF RECORDS PARCEL A THE EAST 125 FEET OF TRACT 80 OF C.D. HILLMAN'S LAKE WASHINGTON GARDEN OF EDEN DMSION NO. 2, ACCORDING TO THE PLAT THEREOF , RECORDED IN VOLUME 11 OF PLATS, PAGE 64, IN KING COUNTY, WASHINGTON. PARCEL B TOGETHER WITH: THE WEST 100 FEET OF THE EAST 225 FEET OF TRACT 80 OF C.D. HILLMANS LAKE WASHINGTON GARDEN OF EDEN NO. 2, ACCORDING TO THE PLAT THEREOF, RECORDED IN VOLUME 11 OF PLATS, PAGE 64, IN KING COUNTY, WASHINGTON; PARCEL D TOGETHER WITH EAST 300 I-LU OF TRACT 79, HILLMAN'S LAKE WASHINGTON GARDEN OF EDEN ADDITION TO SEATTLE NO. 2, ACCORDING TO THE PLAT THEREOF,•RECORDED IN VOLUME 11 OF PLATS, PAGE 64, IN KING COUNTY, WASHINGTON; EXCEPT THE SOUTH 90 FEET OF THE EAST 140 FEET THEREOF. PARCEL C TOGETHER WITH TRACT 80, C.Q. HILLMANS LAKE WASHINGTON GARDEN OF EDEN NO. 2, ACCORDING TO THE PLAT THEREOF; RECORDED IN VOLUME 11 OF PLATS, PAGE 64, IN KING COUNTY, WASHINGTON EXCEPT THE EAST 255'. • - 1