MOUNTAINBROOK HOMEOWNERS ASSOCIATION BYLAWS ARTICLE I. NAME

Transcription

1 MOUNTAINBROOK HOMEOWNERS ASSOCIATION BYLAWS ARTICLE I. NAME The name of the corporation (hereinafter called Association) shall be the Mountainbrook Homeowners Association. ARTICLE II. PURPOSES -L PURPOSE The purpose of the Association is to efficiently preserve the values and amenities of Mountainbrook, a subdivision located in the vicinity of Red Lodge, Carbon County, Montana, and to provide for the maintenance, administration and enforcement of the Declaration of Covenants, Conditions and Restrictions of Mountainbrook Subdivision. TL_ STANDARDS The restrictive covenants and conditions are desired so that each individual owner of a lot in Mountainbrook subdivision shall have the full benefit of his property with no greater restrictions upon the fiill and undisturbed use of the property than is necessary to insure the lasting beauty and investment value of the property. ARTICLE EU. DEFINITIONS JU "Association" shall mean and refer to Mountainbrook Homeowners Association, its successors and assigns. 2L "Subdivision" shall mean and refer to all of the real property included in the plat of Mountainbrook subdivision and any additions thereto. i "Lot" shall mean and refer to any plot of land shown on the recorded Subdivision plat and designated as a Lot by a specific number. ARTICLE IV. MEMBERS L. OWNER The term property owner, whenever herein appearing shall be a contract purchaser of a Lot within Mountainbrook or shall be the grantee of a deed conveying a Lot within Mountainbrook, whether one or more persons or entities, their heirs, successors and assigns. Excluded as owner are all parties having an interest in any Lot merely as security for the performance of an obligation. "L. MEMBER Every owner of a Lot in Mountainbrook shall become a member of the Mountainbrook Homeowners Association upon acquisition of the Lot. When more than one person holds an ownership interest in any Lot, all such persons shall share one membership associated with the Lot. Membership shall be appurtenant to and may not be separated from ownership of any Lot. ARTICLE V. OFFICES L PRINCIPAL OFFICE The principal office of the Association in the State of Montana shall be located in the City of Red Lodge, County of Carbon. Z REGISTERED OFFICE The registered office of the Association required by The Montana Non- Profit Corporation Act to be maintained in the State of Montana may be, but need not be, identical with the principal office in the State of Montana and the address of the registered office may be changed from time to time by the Board of Directors.

2 ARTICLE VI. ORGANIZATIONAL PROVISIONS L. ANNUAL MEETING. The annual meeting of the Association shall be held as close to the 4th of July as practical each year at a time and place determined by the Board of Directors for the purpose of electing Directors and for the transaction of such other business as may come before the meeting. If the election of Directors shall not be held on the day designated herein for any annual meeting of the members, or at any adjournment thereof, the Board of Directors shall cause the election to be held at a special meeting or by written ballot of the members as soon thereafter as conveniently may be 2^ SPECIAL MEETINGS. Special meetings of the members for any purpose or purposes, unless otherwise prescribed by statute may be called by the President or by the Board of Directors, or shall be called by the President at the request of the owners holding not less than one-tenth of the votes entitled to be cast as defined in Article VTI. i PLACE OF MEETING. The Board of Directors may designate any place within the Red Lodge area as the place of meeting for any annual meeting or for any special meeting called consistent with section 2 above.. NOTJCE OF MEETINQ. Notice of meetings shall be sent to all members by personal notification or by mailing a copy of such notice to each owner at least ten (10) days prior to the meeting. Such notice shall contain the time, place and purpose of the meeting. 1 CLOSING OF PROPERTY OWNERS BOOK OR FIXING OF RECORD DATE For the purpose of determining property owners entitled to notice of or to vote at any meeting of members of the Association or any adjournment thereof, or in order to make a determination of members of the Association for any other proper purpose, the Board of Directors of the corporation may provide that the property owners record book shall be closed for a stated period but not to exceed, in any case, fifty days. If the property owners record book shall be closed for the purpose of determining persons entitled to notice of or to vote at a meeting of the Association, such books shall be closed for at least ten days immediately preceding such meeting. 6. YPjrrN<^LISTS_. The officer or agent having charge of the property owners record book shall make, at least ten days before each meeting of the Association, a complete list of the members entitled to vote at such meeting or any adjournment thereof. Such list shall be available during the whole time of the meeting. "L. QyOIUJM The presence of members holding a majority of the votes entitled to be cast, as defined in Article VII, represented in person or proxy, shall constitute a quorum at a meeting of the property owners. The members present at a duly organized meeting may continue to transact business until adjournment, notwithstanding the withdrawal of enough members to leave less than a quorum. 5L PROXIES. At all meetings of the Association, a member may vote by proxy executed in writing or by his duly authorized attorney in fact. Such proxy shall be filed with the secretary of the Association before the meeting is called to order. No proxy shall be valid after eleven months form the date of its execution, unless otherwise provided in the proxy.

3 ARTICLE VII VOTING OF MEMBERS VOTJNQ. Every Lot upon which there has not been constructed a residence house shall entitle its owner(s) to one vote at meetings and on written ballots of the Association. Every Lot upon which there has been constructed a residence house shall entitle its ownerfs) to two votes. When more than one person holds an ownership interest in any Lot, the vote or votes to which those owners are entitled shall be exercised by the owners as they among themselves determine, but in no event shall more than one vote (no residence constructed) or two votes (residence constructed), as the case may be, be cast with respect to any Lot. ARTICLE VIII. BOARD OF DIRECTORS 1, G_ENERAL POWER. The business and affairs of the Association shall be managed by its Board of Directors. The Board of Directors shall have all powers, duties, and authority now specifically entrusted to the Architectural Committee, under the Declaration of Covenants of Mountainbrook Properties, Inc. 2. NUMBER. TENURE AND QUALIFICATIONS. The number of directors of the Association shall be nine, each with three-year staggering terms. Directors must be members of the Association. At least six of the directors shall have houses constructed upon their Lot, No two directors may represent the same Lot. il SPECIAL MEETINGS. Special meeting of the Board of Directors may be called by or at the request of the President or any four directors. The person or persons authorized to call special meetings of the Board of Directors may fix any place, within the Red Lodge area as the place for holding any special meeting of Board of Directors called by them. 1, NOTICE. Notice of any special meeting shall be given at feast ten days prior by personal notification or mailed notice to each director. The purpose of any meeting of the Board of Directors snail be specified in the notice of such meeting. 5± QUORUM. A majority of the number of directors fixed by section 2 of this Article shall constitute a quorum for the transaction of business at any meeting of the Board of Directors. 6. MANNER OF ACTING The act of the majority of the directors present at a meeting at which a quorum is present shall be the act of the Board of Directors. T VOTING. Each Director shall have one vote regarding any business before the Board of Directors, irrespective of whether or not a house has been constructed upon their Lot. ARTCLE IX. OFFICERS L NUMBER. The officers of the Association shall be a President, a Vice-Presidem, a Secretary and a Treasurer, each of whom shall be elected by the Board of Directors. Such other officers as may be deemed necessary may be elected or appointed by the Board of Directors. Officers may also be Directors. 2, ELECTION AND TERM OF OFFICE. The officers of the Association to be elected by the Board of Directors shall be elected for a three-year term at the first meeting of the Board of Directors held after the annual meeting of the members. Officers must be members of the Association. 3, REMOVAL AND/OR VACANCY. Any officer elected or appointed by the Board of Directors may be removed by a majority vote of the Board of Directors whenever in its judgment the best interests of the Association would be served thereby, but such removal shall be without prejudice to the contract rights, if any, of the person so removed. In the event that a duly elected officer

4 should become ineligible during his/her term in office, the board of directors will elect a replacement to serve out the balance of the vacating officers term. J-L 5^ PRESIDENT. The President shall be the Principal executive officer of the Association and, subject to the control of the Board of Directors, shall in general supervise and control all of the business and affairs of the Association. He shall, when present, preside at all meeting of the members and of the Board of Directors. VICE-PRESIDENT.. In the absence of the President or in the event of his death, inability or refusal to act, the Vice-President shall have all the powers of and be subject to all the restrictions upon the President. <L SECRETARY. The Secretary shall: (a) keep the minutes of the annual meetings, special meetings, and of the Board of Directors' meetings; (b) see that all notices are duly given in accordance with the provisions of these Bylaws or as required by law, (c) be the custodian of the Association's records; (d) keep a register of the post office address of each member which shall be furnished to the Secretary by such member. Z. TREAgyRgR. The Treasurer shall: (a) have charge and custody of and be responsible for all funds and securities of the Association, (b) receive all moneys due and payable to the Association; and (c) in general perform all of the duties incident to the office of Treasurer. ARTICLE X. ASSESSMETS L BY BOARD OF DIRECTORS. The Board of Directors shall have the power and authority to levy assessments. Assessment rates shall not exceed $40 per year per vacant Lot and $200 per year per Lot with a house constructed upon it, unless modified by a vote of the Board of Directors. Assessment rates determined by the Board will be mailed to each tract owner thirty (30) days before the annual assessment period. Due dates will be included in the billing. 2.. BY THE ASSOCIATION^ The Association shall have the power and authority to levy a special assessment for the purpose of defraying in whole or in part the cost of any construction, reconstruction, repair or replacement upon the common areas, provided however, that any such assessment must also be authorized by at least two-thirds of the votes which members present at a meeting duly called for that purpose are entitled to cast. 3, ASSESSMENT COLLECTION PROCEDURE. When an assessment has not been paid within thirty (30) days after the due date, the Homeowners may bring action at law against the owner obligated to pay the same, which may include foreclosure of the lien against the property in the same manner as a mortgage foreclosure on real property. Property owners in default will have thirty (30) days to show cause why the assessment was not paid.

5 ARTICLE XI. AMENDMENTS The Bylaws set forth herein may be amended at a regular or special meeting of the Association and shall require a two-thirds majority of the entire Association membership by proxy or in person. In case of conflict between the Bylaws set forth herein and the Declaration of Covenants of Mountainbrook Properties, Inc. Subdivision, the Declaration of Covenants will control. IN WITNESS WHEREOF, we the members of the Board of Directors of Mountainbrook Homeowners' Association have hereunto set our hand the day and year indicated befqre caphjsignature. Date; Y-5-&J 7~i 1 mf03, 03 /?/( 7- T^Lz>? 7- /3- >3 Signature; 't Signatures /

6 600,1 100 MC MOUNTAINBRQOK PROPERTIES, INC. PROPERTY OWNERS' ASSOCIATION AND BY-LAWS ARTICLE I Definition The name of the Association is Mountainbrook Homeowners', situated at P.O. Box 1010, Red Lodge, MT 59068, hereinafter referred to as "Homeowners". The property is composed of the tracts within Mountainbrook. ARTICLE II Heffltrers_hijg^ygt_i_ng Rights jndjteclaratlon Each tract owner shall be a member of Homeowners. The Homeowners shall have two (2) classes of voting membership. tract owners shall have one (!) vote. upon it shall have two (2) votes. Vacant Owners cf a tract with a home constructed "Declaration" shall trean and refer to Declaration of Covenants of Mountainbrook Properties, Inc.. ARTICLE 111 Annual and Special Meetings The first annual meeting of the Homeowners shall be held within one (U year from the date of the sale of the first tract, at a time and place designated by the president. Special meetings may be called at any time by the president. Notice of meetings shall be sent to all Homeowners by personal notification or by mailing a copy of such notice to each Homeowner at least ten (10) days prior to the meeting, meeting. such notice will contain time, place and purpose of the Homeowners represented by proxy or in person at such meetings shall constitute a quorum. ARTICLE IV Powers of the Homeowners' Board of Directors The Homeowners' Board of Directors shall have all powers, duties and authority not specifically entrusted to the Architectural Committee, under the

7 50DX 100 FME69G Declaration of Covenants of Mountalnbrook Properties, inc. Members of the Homeowners' Board of Directors will be elected at the first annual meeting. ARTICLE V Asjessmejits Each owner of any tract, by acceptance of a deed therefor, whether or not ft shall be so expressed in such deed, is deemed to covenant and agree to pay the Howmeowners* Association assessments. Each assessment, together with interest, costs and reasonable attorney's fees shall be the personal obligation of theownersof the property at the time the assessment fell due. The personal obligation for delinquent assessments shall not pass to their successors in title unless assumed by them. - Assessments shall be used to promote the safety and welfare of the residents of the properties, for snow plowing, spraying of weeds in rights-of-way and maintenance of roads and rights-of-way. Rate of assessments will be set by the Homeowners, at full rate for tracts with homes upon them, occupied most of the calendar year, one-third (1/3) rate for tracts with homes used for vacation or weekend purposes and one-sixth (1/6) rate for unimproved tracts. Homeowners wishing private drives plowed of snow will make their own arrangements. Assessment rates wil] be determined by the Homeowners and mailed to each tract owner thirty (30) days before the annual assessment period. Due dates will be included in the billing. ARTICLE VI As_sessn!gnt_Cp^h!ction_ Procedure When an assessment has not been paid within thirty (30) days after the due date, the Homeowners may bring action at law against the owner obligated to pay the same, which may include foreclosure of the lien against the property in the same manner as a mortgage foreclosure on real property. Property owners in default will have thirty (30) days to show cause why the assessment was not paid. ARTICLE VII Amendmentof By- I_awg The By-laws set forth herein way be amended at a regular or special meeting of the Homeowners and shall require a two-thirds (2/3) majority of the entire Homeowner membership by proxy or in person. -2-

8 100 in case of conflict between the By-laws set forth herein and the Mountainbrook Properties, Inc. Subdivision Declaration of Covenants, the Declaration of Covenants will control. ARTICLE VIII FJscal_ Year The fiscal year of the Homeowners shall begin on the first (1st) day of January and end the thirty-first [31st) day of December of each calendar year. IN WITNESS WHEREOF, we the members of the Board of Directors of Mountainbrook Homeowners' Association have hereunto set our hand the day and year Indicated before each signature. _^ _^ ' Date; \: rfuitr u. NtWhUAN. County Ctert