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i <br />$D-Ooit~3 <br />reserves for deferred maintenance, reserves for replacements, and <br />reserves to provide a working fund ssr to meet anticipated losses, <br />and such sums as needed to make up any deficit in the common <br />expense assessments for prior years. <br />{b) Assessments against the office unit owners for their <br />shares of the comaton expenses of the Association, as determined <br />by the budget, shall be made monthly. Such assessments shall be <br />due on the tenth day of the month for which the assessrt~nts are <br />made. If a monthly assessment is not made as required, an assess- <br />ment shall be presumed to have been made in the amount of the <br />last prior assessment. In tht. event the monthly assessment <br />proses to be insufficient, the budget and assessment may be <br />amended at any time by a two-thirds vote of the Board of Directors. <br />(ci If an office unit owner shall fail or refuse to make <br />any payment of an assessment when due, the amount thereof shall. <br />constitute a lien on the interest of the office unit owner in his <br />unit and the Board of Directors may record such lien in the <br />proper public offices of xall County, Nebraska. If the office <br />unit owner shall still be unable to pay such assessment, the <br />Hoard of Directors may bring an action at law against the office <br />unit owner personally obligated to pay the same or foreclose any <br />lien which the Association may have against such office unit. <br />(d) The depository of the Association shall be such bank or <br />banks as shall be designated from time to time by the directors <br />and in which the moneys of the Association shall be deposited. <br />Withdrawal of rr~neys from such accounts shall be only by checks <br />signed by such persons as are authorized by the directors. <br />8. Indemnification of Developer. The Developer, as defined <br />in the Master Deed Crea[ing Grand Island Doctors Building Condo- <br />minium Property Regime, and its directors and officers, shall be <br />indcaunified by the Association against all expenses and liabilities, <br />including but not limited to counsel fees, legal proceedings and <br />settletttents of claims made upon the Developer, its directors and <br />officers, reasonably incurred by or imgose~ upon the Developer, <br />its directors and officers, in connection with and relating to <br />the construction of the condominium property and its conversion <br />to a Condominium Property Regime. Payment of such expenses and <br />iiabilitiss shall ~ curried out through the Budget and Assessments <br />provided in Paragraph ? hereinabove. The foregoing right of <br />indemnification shall be in addition to and not exclusive of all <br />zights to which the Developer, its directors and officers may be <br />entitled. <br />9. Atwens~ents. These By-laws may be amended in the fol- <br />lowing manner : ~~~ <br />(a) Notice of the subject matter of a proposed amendment <br />sha12 bs included in the notice of any meeting at which a pro- <br />posed amendment is considered. <br />Ib) A resolution adopting a proposed amendment may be <br />proposed by either the Board of Directors or by the members of <br />the Association. Directors and members not present in person or <br />by proxy at the tseetings considering the amendment may express <br />their approval in writing, providing such approval is delivered <br />to the Secretary at or prior to the tweeting. Such approvals must <br />...uc ... .__ ._.. ___ <br />.. -. b4 YSY- at least ~eYenty-L A.YG ~~.v~ia% { i ~°~) 'Gi ~tiic--4v%cr°.'vi_. __..h.......-_. . <br />entire rsetobership of the Association. <br />(c) No amendment shall discriminate against any office unit <br />owner or against any office unit or class or group of office <br />units unless th~a office unit owners so affected shall consent. No <br />amendment shall change any office unit nor the share in the <br />coffin elements appurtenant to it, nor increase the owner's share <br />of the nomanpn expenses, nor change the voting rights of members, <br />;znle~ss the record owner of the office unit concerned and all <br />reecard rswnerR of liens thereon shall ~~oin in the execution of the <br />ataennt <br />Yags 4 ::,f 5 Pagt~s <br />