MOU, eae AMENDED AND w(Gs : me < TOWNEOAKS TERRAC INIUM ASSOCIATION RS fit Corporation) ESS County, Texas we TABLE OF CONTENTS FOR THE AMENDED AND RESTATED BY-LAWS OF TOWNEOAKS TERRACE CONDOMINIUM ASSOCIATION (A Texas Non-Profit Corporation) ARTICLE | - NAME Paragraph 1.1 -NAME Page ARTICLE II - PURPOSE AND OWNER OBLIGATION Paragraph 2.1 - PURPOSE Paragraph 2.2 - OWNER OBLIGATION ARTICLE III - DEFINITIONS AND TERMS Paragraph 3.1 - MEMBERSHIP I Paragraph 3.2 - VOTING 2 Paragraph 3.3 - MAJORITY OF UNIT OWNERS 2 Paragraph 3.4 - QUORUM 2 Paragraph 3.5 - PROXIES ro, 2 ARTICLE IV - ADMINISTRATION © Paragraph 4.1 2 Paragraph 4.2 3 Paragraph 4.3 3 Paragraph 4.4 3 Paragraph 4.5 3 3 RDER OF BUSINESS 3 OF DIRECTORS - NUMBER AND QUALIFICATION 4 - POWERS AND DUTIES 4 Paragraph 5.3. - OTHER POWERS AND DUTIES 5 Paragraph 5.4 - ELECTION AND TERM OF OFFICE 6 Paragraph 5.5 - VACANCIES 6 Paragraph 5.6 - REMOVAL OF DIRECTORS 6 Paragraph 5.7 - ORGANIZATION MEETING 6 Paragraph 5.8 - REGULAR MEETINGS 6 ARTICLE V (Con’d.)
Paragraph 5.9 - SPECIAL MEETINGS Paragraph 5.10 - WAIVER OF NOTICE Paragraph 5.11 - BOARD OF DIRECTOR’S QUORUM Paragraph 5.12 - FIDELITY BONDS ARTICLE VI - OFFICERS Paragraph 6.1 - DESIGNATION Paragraph 6.2 - ELECTION OF OFFICERS Paragraph 6.3 - REMOVAL OF OFFICERS Paragraph 6.4 - PRESIDENT Paragraph 6.5 - VICE PRESIDENT Paragraph6.6 - SECRETARY Paragraph 6.7 - TREASURER ARTICLE VII - MANAGEMENT CONTRACT Paragraph 7.1 - MANAGEMENT COMPANY ARTICLE III - INDEMNIFICATION OF OFFICERSAN Paragraph 8.1 - INDEMNIFICATION \S Paragraph 9.1 Paragraph 9.2 Paragraph 9.3 Paragraph 9.4 NTS TO PLAN OF CONDOMINIUM OWNERSHIP 0.1 Y-LAWS Paragraph 11.2 - NOTICE OF UNPAID ASSESSMENTS ARTICLE XII - COMPLIANCE Paragraph 12.1 - LEGAL REQUIREMENTS ARTICLE XIII - NON-PROFIT ASSOCIATION
aph 9.4 NTS TO PLAN OF CONDOMINIUM OWNERSHIP 0.1 Y-LAWS Paragraph 11.2 - NOTICE OF UNPAID ASSESSMENTS ARTICLE XII - COMPLIANCE Paragraph 12.1 - LEGAL REQUIREMENTS ARTICLE XIII - NON-PROFIT ASSOCIATION Paragraph 13.1 - NON-PROFIT PURPOSE 12 12 12 12 ARTICLE XIV - PRINCIPAL OFFICE Paragraph 14.1 - ADDRESS ARTICLE XV - EXECUTION OF INSTRUMENTS Paragraph 15.1 - AUTHORIZED AGENTS ARTICLE XVI - CORPORATE SEAL Paragraph 16.1 - CORPORATE SEAL ARTICLE XVII - DEFINITION OF TERMS Paragraph 17.1 - DEFINITION OF TERMS CERTIFICATE \ onlfos SS ne 13 14 AMENDED AND RESTATED BY-LAWS OF TOWNEOAKS TERRACE CONDOMINIUM ASSOCIATION ARTICLE I NAME 1.1 NAME. The name of the organization shall be TowneO errace domifiium Association ARTICLE II PURPOSE AND OWNER QBINGATION 2.1 PURPOSE. The purpose for which thj ssociation is formed is to govern the Condominium Property situated in the County of ate tad the Condominium Declaration for Fleetwood O intum filed for record on January 9, 1980, at Volume 80006, Page 2330 et seq. of the Deed B ORs 0 las ty, Texas (the “Condominium Declaration”) which by this di PhgpeNy has been submitted to a Regime according to the provisions of the Which Property is described in Exhibit “A” to ARTICLE III DEFINITIONS AND TERMS 3.1 MEMBERSHIP. Any person on becoming an Owner of a Condominium Unit shall automatically become a Member of this Association and be subject to these By-Laws. Such Membership shall terminate without any AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 1 formal Association action whenever such person ceases to own a Condominium Unit. Such termination shall not relieve or release any such former Owner from any liability or obligation incurred under or in any way connected with the
never such person ceases to own a Condominium Unit. Such termination shall not relieve or release any such former Owner from any liability or obligation incurred under or in any way connected with the TOWNEOAKS TERRACE CONDOMINIUMS during the period of such Ownership and Membership in this Association, or impair any rights or remedies which the Board of Directors of the Association or others may have against such former Owner and Member arising out of or in any way connected with such Ownership and Membership apd the covenants and obligations incident thereto. No certificate of stock shall be issued by the Association, but je Directors, if it so elects, may issue one (1) Membership Card per Unit to the Owner(s) of a Condonfini Membership Card shall be surrendered to the Secretary whenever Ownership of the Condominik thereon is terminated.
‘ese By-Laws the term “Majority of Unit Owners” votes entitled to be cast as further set forth in Article IX, ARTICLE IV ADMINISTRATION ASSOCIATION RESPONSIBILITIES. The Owners of the Units will constitute the Association of Unit Owners, hereinafter referred to as the “Association”, who will have the responsibility of administering the Condominium Project through a Board of Directors.
AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 2 4.2 PLACE OF MEETINGS. All annual and special meetings of the Association shall be held at the principal office of the Association or at such other suitable and convenient place as may permitted by law and from time to time fixed by the Board of Directors and designated in the notices of such meetings.
4.3 ANNUAL MEETINGS. Annual meetings shall be set by the Board of Directors so as to occur during
and from time to time fixed by the Board of Directors and designated in the notices of such meetings.
4.3 ANNUAL MEETINGS. Annual meetings shall be set by the Board of Directors so as to occur during the month of January each year on a date and at a time set by the Board of Directors.
4.4 SPECIAL MEETINGS. It shall be the duty of the President to call a special meeting s meetings to each Member of the Association. Notice can be seni i) first class*traif, postage pre-paid, addressed to the Owner’s last known post office address as shown on the rp ssociation, (ii) electronic message at the electronic message address provided by the Owner nef consents and as being shown as the Owner’s last known electronic message address on the recgseds eetition, (iii) personal delivery to the Owner by hand s absence, (iv) facsimile transmission to a facsimile number Owner’s last known facsimile number on the records of the 4.7 ORDER OF BUSINESS. The order of business at all meetings of the Owners of Units shall be as follows: AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 3 a. Roll call.
b. Proof of notice of meeting or waiver of notice.
c: Approval of minutes of preceding meeting.
d. Reports of officers.
é. Reports of committees.
f. Election of directors.
g. Unfinished business.
h. New business.
1 Adjournment. ©) ARTICLE V BOARD OF DIRECTORS 5.1 NUMBER AND QUALIFICATION. The a of this Ass n shall be governed by a Board of Directors, composed of no less than three (3) and no more t sons, all of whom must be Owners and all of whom must be current in all assessment obligatiefXo th No person, and his or her spouse, domestic partner, or co-Owner if said Unit is owned by mor ‘may serve on the Board of Directors at the same
of whom must be current in all assessment obligatiefXo th No person, and his or her spouse, domestic partner, or co-Owner if said Unit is owned by mor ‘may serve on the Board of Directors at the same time. In the case of an Owner which igyt a al p , the person designated in writing to the Secretary of the Association as the representative,of eligible to serve as a Director; provided, said Owner may not Declaration directed to be exercised and done by the Owners.
AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 4 5.3 OTHER POWERS AND DUTIES. The Board of Directors shall have the following duties: a. To administer and enforce the covenants, conditions, restrictions, uses, limitations, obligations and all other provisions set forth in the Condominium Declaration.
b. To establish, make and enforce compliance with rules necessary for the orderly operation, use and occupancy of this Condominium Project. (A copy of such rules and regulations shall be delivered or mailed via first class U.S. mail, electronic mail, facsimile, or by any other means allowed by law, to each Member promptly upon the adoption thereof.)
Cc. To keep in good order, condition and repair all of the General and Limited Comp and all items of personal property used in the enjoyment of the entire Premises.
d. To insure and keep insured all of the insurable General Common Ele E oF ye Prop in an amount equal to their maximum replacement value, as provided in the Condominium Reclaratio to obtain and maintain comprehensive liability insurance covering the entire Prem/#Sesg in a One Hundred Thousand Dollars ($100,000.00) per person, Three Hundred Théug mafugnd ars $300,000.00) per accident and Fifty Thousand Dollars ($50,000.00) propert 1 Oge Million Dollar
re Prem/#Sesg in a One Hundred Thousand Dollars ($100,000.00) per person, Three Hundred Théug mafugnd ars $300,000.00) per accident and Fifty Thousand Dollars ($50,000.00) propert 1 Oge Million Dollar ($1,000,000.00) umbrella policy. To insure and keep insured all th First Mortgagees.
e. To fix, determine, levy and collect tle m¥athly prorated-a8sessments to be paid by each of the Owners; and by majority vote of the Board of Directo adjust, decrease or increase the amount of the monthly assessments subject to the provisions of the All monthly or other assessments shall be expenses for which the assessments are being f. To collect delinquen an Owner as provided in the Qodom To keep and maintain full and accurate books and records showing all of the receipts, 5 OF 1 disbursements and to permit examination thereof at any reasonable time by each of the Owners and pst Mortgagee of a Unit, and to cause a complete audit of the books and accounts by a competent accotintant once each year. The Association shall cause to be prepared and delivered annually to each Owner who makes a written request for such, an audited statement showing all receipts, expenses or disbursements since the last such statement period. Such audited financial statements shall be available to any First Mortgagee of a Unit on written request. The Association may deliver a copy of the audit to any Owner or any First Mortgagee that may make a written request for such, by any means determined by the Board of Directors, including by first class U.S. mail, electronic delivery, facsimile, hand delivery or otherwise.
AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 5 1 To meet, in any way allowed by law, at least once each quarter.
onic delivery, facsimile, hand delivery or otherwise.
AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 5 1 To meet, in any way allowed by law, at least once each quarter.
m. To designate the personnel necessary for the maintenance and operation of the General and Limited Common Elements.
n. In general, to carry on the administration of this Association and to do all of those things, necessary and reasonable, in order to carry out the communal aspect of Condominium Ownership.
5.4 ELECTION AND TERM OF OFFICE. At the annual meeting of the Association directoys\ghall 5.9 SPECIAL MEETINGS. Special meeting of the Board of Directors may be called by the President or Secretary, or upon the written request of at least two (2) Directors. The President or Secretary will give three (3) days AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 6 personal notice to each Director by mail, telephone, electronic message, facsimile, or in any way allowed by law, which notice shall state the time, place (as hereinabove provided) and purpose of the meeting.
5.10 WAIVER OF NOTICE. Before or at any meeting of the Board of Directors, any Director may in writing, waive notice of such meeting and such waiver shall be deemed equivalent to the giving of such notice.
Attendance by a Director at any meeting of the Board of Directors shall be a waiver of notice by said Director oft At any such adjourned meeting, at which a quorum is present, 4 meeting, as originally called, may be transacted without additig 5.12 FIDELITY BONDS. The Boa Dire oA Association handling or responsible for Associatio IY bonds shall be paid by the Association © ICLE VI Squire that all officers and employees of the nish adequate fidelity bonds. The premium on such
A Association handling or responsible for Associatio IY bonds shall be paid by the Association © ICLE VI Squire that all officers and employees of the nish adequate fidelity bonds. The premium on such OFFICERS fficers of the Association may be a President, Vice President, Secretary and 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 successor may be elected at any regular meeting of the Board of Directors or at any special meeting of the Board of Directors called for such purpose.
AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 7 6.4 PRESIDENT. The President shall be the chief executive officer of the Association. He shall preside at all meetings of both the Association and the Board of Directors. He shall have all 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 to assist in the administration of the affairs of the Association. The President, or his designated alternate, shall represent the Association at all meetings of the TowneOaks Terrace Condomfyi Association.
a. The Secretary, as may be assisted by a managing ¢ge name, the number of Members and the par shall be open to inspection by Members and 6 times during regular business hours.
known addresses as shown on the records a 6.7 TREASURER. Thetpegsu sma assisted by a managing agent, shall receive and deposit in appropriate bank accounts all mggey Re iatfOn and shall disburse such as directed by resolution of the Board AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 8 ARTICLE VH MANAGEMENT CONTRACT
ounts all mggey Re iatfOn and shall disburse such as directed by resolution of the Board AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 8 ARTICLE VH MANAGEMENT CONTRACT 7A MANAGEMENT COMPANY. The Board of Directors may enter into a Management Agreement with a management company at a rate of compensation agreed upon by the Board of Directors. In accordance with the Condominium Declaration and these By-Laws, the management company shall have, but shall not be limited ta, the following functions, duties and responsibilities: a. Fiscal Management.
(1) Prepare annual operating budget detailed to reflect expec (2) expenditures on items recurring only periodically , i.e., painting} Elements.
(3) Prepare monthly operating a h position statements and statements concerning sinking fund reserve acgo (4) Analyze and op heyé e against the Board-approved budge ff pdnt variation is shown (10% pr6éducing accounts on behalf of the Board of ehensive records thereof. Establish individual € accounts, as directed by the Board of Directors.
Otherwise deliver notices of delinquency to any Owner onable efforts to collect delinquent accounts.
xamine all expense invoices for accuracy and pay all bills in the terms of the property management agreement.
8) Prepare year-end statement of operations for Owners.
b. Physical Management.
(1) Assume full responsibility for maintenance and control of Common Area improvements and equipment. Maintain the Property in constant repair to reflect Owner pride and to insure high property values in accordance with the provisions of the operating budget, as approved by the Board of Directors.
AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 9
high property values in accordance with the provisions of the operating budget, as approved by the Board of Directors.
AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 9 (2) Enter into contracts and supervise services for lawn care, refuse hauling, pump maintenance, etc., as approved by operating budgets.
(3) Select, train and supervise competent personnel, as directed by the Board of Directors.
(4) Compile, assemble and analyze data; and prepare specifications and call for bids for major improvement projects. Analyze and compare bids, issue contracts and coordinate the work; maintain close and constant inspection to insure that work is performed according to specifications.
(5) Perform any other projects with diligence and economy in the Board of Directors’s best interests.
c. Administrative Management.
(1) Inspect contractural services for satisfactory pq Prepare any necessary compliance letters to Vendors.
up on payment; act as the Board of Direct settlement.
(3) Exercise close liajson andl 9 proper operational maintenance a relationships.
Tall personnel to insure agement-Resident-Owner (4) Actas liaisg with local, federal o in resolving individual Owner’s problems as they pertain mon Elements and governing rules and regulations.
Represent an absentee Owner when requested.
) Administer the Condominium Project in such a way as to promote asant and harmonious relationship within the complex for all Owners, Réefdents and Tenants alike.
AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 10 ARTICLE VII INDEMNIFICATION OF OFFICERS AND DIRECTORS 8.1 INDEMNIFICATION. The Association shall indemnify every Director or officer, his/her heirs,
TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 10 ARTICLE VII INDEMNIFICATION OF OFFICERS AND DIRECTORS 8.1 INDEMNIFICATION. The Association shall indemnify every Director or officer, his/her heirs, executors and administrators, against all loss, cost and expense, including counsel fees, reasonably incurred by him/her in connection with any action, suit or proceeding to which he/she may be made a party by reason of his/her bejag or him/her under and by virtue of the Condominium ra asa Member or Owner of a Condominium Unit covered thereby.
ICLE IX OB ATIONS OF THE OWNERS Ss 9.1 ASSESSMENT Owners shall be obligated to pay the monthly assessments imposed by the AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 11 9.2 GENERAL.
a. Each Owner shall comply strictly with the provisions of the Condominium Declaration.
b. Each Owner shall always endeavor to observe and promote the cooperative purposes for which the Project was built.
9.3 USE OF GENERAL COMMON ELEMENTS AND LIMITED COMMON ELEMENTS. Each Owner may use the General Common Elements and the Limited Common Elements in accordance with the purpd which they were intended.
9.4 DESTRUCTION OR OBSOLESCENCE. Each Owner shall, if necessa Condominium Declaration.
ARTICLE UM OWNERSHIP AMENDMENTS TO PLAN OF COND 6ndominium Declaration. In the event of a conflict between on shall control.
ARTICLE XI MORTGAGES SOCIATION. An Owner who mortgages a Unit shall notify the Association through NOTICE OF UNPAID ASSESSMENTS. The Association shall, at the request of a Mortgagee of a Unit, report any unpaid assessments due from the Owner of such Unit.
AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 12 ARTICLE XII COMPLIANCE
equest of a Mortgagee of a Unit, report any unpaid assessments due from the Owner of such Unit.
AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 12 ARTICLE XII COMPLIANCE 12.1 LEGAL REQUIREMENTS. These By-Laws are set forth to comply with the requirements of the State of Texas Condominium Act, Chapter 81 of the Texas Property Code. If any of these By-Laws conflict with the orth provisions of said statute, or with any of the applicable provisions of the Texas Uniform Condominium Act, as s in Chapter 82 of the Texas Property Code, it is hereby agreed and accepted that the provisions of those apply.
ARTICLE XIII NON-PROFIT ASSOCIATION Member of the Board of Directors; provided, howe) al Member while acting as an agent or employee of the SSS ef services rendered in effecting one (1) or more of r of the Board of Directors may, from time to time, be be curred in connection with the administration of the affairs of the Association.
ARTICLE XIV PRINCIPAL OFFICE he principal office of the Association shall be located at such suitable and convenient be permitted by law and designated by the Directors.
ARTICLE XV EXECUTION OF INSTRUMENTS 15.1 AUTHORIZED AGENTS. The persons who shall be authorized to execute any and all instruments of conveyance or encumbrances, including promissory notes, shall be the President and the Secretary of the Association.
AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 13 ARTICLE XVI CORPORATE SEAL 16.1 CORPORATE SEAL. The directors shall provide a corporate seal which shall be circular in form and shall have inscribed thereon the name of the corporation, the state of incorporation, year of incorporation and the words, “Corporate Seal”.
ARTICLE XVII DEFINITION OF TERMS CERTIFIC
cular in form and shall have inscribed thereon the name of the corporation, the state of incorporation, year of incorporation and the words, “Corporate Seal”.
ARTICLE XVII DEFINITION OF TERMS CERTIFIC 1 HEREBY CERTIFY that the forgoing is a true, comp|ate ect copy of the Amended and Restated Byprofit corporation, as approved by Owners representing at least sixty-six and two-thirds percent QXREE aggregate interest of the undivided Ownership of the General Common Elements at a dul,constifutéd m g fer such purpose of the Owners held on the Th day of oS Laws of TowneOaks Terrace Condominium Assogtision, a Te my hand and affix the Seal of the Corporation, this the 2nd day L Secretary AMENDED AND RESTATED BYLAWS OF TOWNEOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 14 STATE OF TEXAS § § COUNTY OF DALLAS § This instrument was acknowledged before me on this the WUD day of Det(GmbGL, 2011 by —Danierw MG , Secretary of TowneOaks Terrace Condominium Association, Inc., a Texas non-profit corporation, on behaif of said corporation.
ate of Texas Nn frome My commission expires 02/21 State of Texas My Comm. Exp. 02-21-15 C5) Recorded icial Public Records yF. Warren, County Clerk Dallas County, TEXAS 12/06/2011 02:02:56 PM O $88 .00 201100317689 AMENDED AND RESTATED BYLAWS OF TOWNOAKS TERRACE HOMEOWNERS ASSOCIATION - Page 15