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<br /> , ' i�. ti Bxerafse aIl o+t2�ai po�ter� $u�hoPi��9 by tbtt ' ��.�_��_=--_
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<br /> o. Ex�rc�ss any o�her po9rers �atecessary and p$op�r Eos � �` ;��.._:u-.s;= _--
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<br /> �_q�ve��sa �a�:_@�a�tiaa ot tb.�.As��cfat4�n. . _.`Y�}��r�`a c� ��--
<br /> 3 e Z'he As�aci�ti�an ���I.1 Dg managed !�y it� 8aard o! ���Q�,'�t��a ;� �
<br /> ::: '�tf�e�tora wbicla shaa:l�hsve:�au�tortty to act for end an bahalf a€ x�, ,�''``�*'�`� =
<br /> . �;-��ocf�tian af.thrntt `a r�r�•.of tBa mesbera. �ccept �o ame.�tsi ��.�,: "�"".� �
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<br /> �T.� � �y3a�i��� �oLf l�iesrg$r..�g�,.��aaenid t�he__Rsestate$ �icles oi � f*'� r' `—' "' •
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<br /> � �. Th� Associat�e� � �.�s 8oar3 of Direators a=td Officers �` _ ,��r� �
<br /> muat e�cise �gead faitdi asd��c��3�tary and re�sonal�le ca�e ia� the , : �� -�-���; -
<br /> ' � p���ee of thefr.duti.e.s_�i�:may not adopt or enPorce ivles or � <��- -.
<br /> re.c�u���:�us wlaich c1f.s�rf��st�i��.3n fav�r af or against any auite �-��;
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<br /> `5. The Board af Di.a��s� sliall have the �aty and _"".° -.,.---�"_°�-
<br /> � re��;�ibilit�y'to perfo� fga �e name of the Association the � `� ' �.��.����.s�.
<br /> dut�� and reaponsi.bilities �$ �he Aasoafation as� set fos�th in :.••.:�°.� —�
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<br /> t�Yti.s��►eclaratio» o�,Merqer. :�;.�..�
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<br /> �. �.. Not later than Marc�t 1, 1995, and each March ist .
<br /> thdr���'ter, �he $oard of Dixe�rs s�all adopt a propoaerl budget �� :�". .
<br /> ' for the t�relve (12j month:pe�cs�s� 1��3r�iras�.on the follawi�g May 1 t:7�:=�;� '"•,
<br /> . and ending on Apr31 30 of t� �n�ut yea�. . '�`�ie budget shFtil `, ., .��;., ,`
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<br /> include pravision for (f� e���c� �esat#.r�g expen�es for the ' ���;.s�:����.w'
<br /> year: (11) reasonabie r��ros fa�.coaatitnc�encies; (ifi) .:�,;¢ �;��;
<br /> reasaaable cash reserves kor ap�rat�:g e�e�RSest (iv) �easonable ,. „�y� .
<br /> � ca�ah reservea for depre�iatioa�. af ats�o8�: (vA reaso�nable cash �' �,� . .� , '` � ,
<br /> reserves fcr deprecfatias�..a�E +c8ri.ve��� aza� sidewalks; and (vi) ,� , �` ,�"
<br /> .reae��l+��seserves for �erior ma�tntenance s and (vii� euch � � ,�#;� �
<br /> � olher ite� of anticipatea�. �xpense ana reserves as the Beard of
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<br /> Direc.tors �aay d�em reasonr��y ne�es�ary. Ths budget ahall state � ��.
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<br /> �h� amaunt of the annual assessa�at for each sufte Por the � � , - �
<br /> � e�nsuing year, which may or may not be the sa�e am�nt for each �.:��: '�, �'�
<br /> s�i�o ��:wa thc e.,.�g_r.sss res�uf.se� to be assess�d to eae� auite r. � '.;.:ft:__�
<br /> maiy not b� vniPorm. � • �.��'=
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<br /> 9. I�Tot earlier thaa� March i5 nor 9.ater than April 15� af �' �'• °,�::•` .i.�
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<br /> eacl� year tbe� 8aard o! Dir�E:oYS s2�11 hs�Yc� a meeting og the � � ° "� '`� .
<br /> meabere of the��asociati�n � consfder sat�ication oS the � � ��. '��'
<br /> propoaad budget. Not les� �han f�ua�een �3+3) aor more than . � -• -��:�..
<br /> tliisty (30y days prfor to �he mee�fm� oP t.�e members the Baard of . ,. ,.
<br /> Dire�lord shail a�ive writCen notice of tlge �eetinq to each. ' . � � , �� �
<br /> memb�r, t�bieh no2�I�� a2iall S�cclude a aop� �sE the propose� budget, • � . . .
<br /> a aopy oi the A��s��atf on�� a�ateme�t mf rev,enu�s an� ex�sn�ea ' � � . . .
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