ARTICLE V - DIRECTORS The business affairs of the Corporation shall be managed by a Board of Directors. It shall be the Board's duty to carry out the

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1 BY-LAWS OF PANORAMA ESTATES HOMEOWNERS ASSOCIATION, INC A NON-PROFIT CORPORATION Revised October 22, 1988 Amended October 22, 1988, March 4, 1992, February 13, 1995, October 28,2003, May 3, 2004, September 19, 2005 ARTICLE I - MEMBERS Section 1 - Membership in this Association shall be restricted to resident owners of real property and their spouses, when the spouse is not a registered owner, located within the boundaries of the Association defined as follows: All the properties within the subdivision known as "Panorama Estates" now served by the Weller Water Line as constructed by Mr. and Mrs. William Weller. This boundary may be extended to include contiguous property by a majority vote at any regularly scheduled membership meeting. Section 2 - One member in good standing for each real property shall be entitled to vote at any regular or special membership meeting. Section 3 - The corporate year shall commence with the election of a new Board of Directors and terminate upon election of their succeeding Board of Directors. Section 4 - Annual dues for administration shall be determined by the Board of Directors and are payable by December 31 of each year. Failure to make payment by this date will automatically suspend member's voting rights until such payment is made, and will authorize the Board of Directors to take all necessary legal actions to collect payment. A voluntary social fee shall be suggested by the board for all members of the association. Section 5 - The required annual assessment for water line maintenance and repair for all active tap users (meaning owners of properties with physical connections to the Weller Water Line) shall be determined by the Board of Directors. Owners of properties with unexercised rights to tap into the Weller Water Line shall be required to pay the annual assessment to continue to reserve their right to access the Weller Water Line, and to help offset costs of maintaining the line for their future use. Any unpaid balances for a property must be settled prior to PEHA permitting exercise of new_physical connection (tap) to the Weller Water Line. Any other special assessments shall require a vote of the membership. Unless expressly determined and voted by the membership to be applicable to them, owners of properties with unexercised rights to tap into the not be required to pay special assessments Weller Water Line shall. Notice of such assessmentshall be given by the Treasurer to each owner of the Weller Water Line promptly upon the assessment.

2 Section 6 - New members as defined in Section 1 of Article 1 will be accepted upon payment of the annual dues. There will be no pro-ration of dues. Section 7 - Nothing in these rules for membership shall be interpreted to preclude the invitation as guests, families who rent or lease property within Association boundaries or those who reside on contiguous property, to participate in events and receive the Association Directory. This privilege will be conveyed on payment of an annual fee equivalent to the annual membership dues in Section 4 of Article 1. Section 8 - Failure to join the Association or pay dues shall not restrict the power of the Association to act on behalf of the membership to collect annual and special assessments as described in Section 5 of Article 1 from property owners who are served by the Weller Water Line. ARTICLE II - MEETINGS Section 1 - The annual meeting of members shall be held during the month of October of each year. Written notice shall be delivered to each household at least five days and not more than 15 days prior to the meeting, which notice shall contain the date and place of the meeting plus an agenda and the slate of candidates for the Board of Directors to be elected. Section 2 - All residents owners of the Association shall receive notice of all membership meetings. Section 3 - Membership meetings may be called by the Board of Directors upon at least five days written notice stating the purpose, or by any five members of the Association upon five days written notice stating the purpose. Section 4 - A quorum shall be a minimum of 20 percent of the resident members eligible to vote. ARTICLE III - STOCK Inasmuch as Panorama Estates Homeowners Association, Inc., is a nonprofit corporation, no shares of stock will be issued to its members, but membership itself shall constitute a contractual relationship between each of the members and shall bind each to meet any dues or special assessments. ARTICLE IV - MINUTES Minutes of all meetings shall be kept in a record book containing a duplicate of the Certificate of Incorporation on file with the Secretary of State of Colorado, and ofthe By-Laws ofthe Association and any revisions or amendments of these documents that have been officially accepted. The official seal and minute book shall be kept in the custody of the duly elected Secretary, whose duty it will be to record the minutes of each meeting.

3 ARTICLE V - DIRECTORS The business affairs of the Corporation shall be managed by a Board of Directors. It shall be the Board's duty to carry out the purposes of the Articles of Incorporation and the By-Laws. Section 1 - The Board of Directors shall consist of five members who shall be elected at the annual meeting of members. Each voting member shall be entitled to one vote for each Director to be elected and the candidate receiving the majority of the votes shall be declared elected. Cumulative voting shall not be allowed. The chairman of the board of directors shall be the President except if the President is absent, the chairman is to be the Vice-president, or elected from the remaining officers. Section 2 - Directors term. Directors elected in 1988 shall hold office for a period of one or two years, and until their successors are elected and qualified, except in the event of death, resignation or removal. In 1988 there shall be three Directors elected for a term of one year and two Directors elected for a term of two years. As their terms expire Directors shall be elected for two year terms. Section 3 - A quorum shall consist of three members. Section 4 - The Board of Directors shall meet as necessary upon notice given by the President at least 3 days prior to the meeting, setting forth the agenda. Alternatively, a meeting may be called by any 2 members of the Board at least 3 days prior to the meeting, setting forth the purpose of the meeting. Section 5 - The President may appoint various committees with special instructions to act on behalf of and make reports to the Board of Directors. Among these committees there shall be a Water Line Maintenance Committee authorized to supervise the maintenance of the Weller Water Line. Because all land and home owners must share in the cost of maintenance, repair, and upgrading of the Weller Water Line, this committee shall be a standing committee of at least 3 members appointed so as to have staggered 3-year terms. This provision is intended to assure continuity to this vital function of the Corporation. Section 6 - The Board shall be subject to the orders ofthe Association, and none of its acts shall conflict with action taken by the membership. Section 7 - Vacancies. Whenever a vacancy occurs by death, resignation, or otherwise, the remaining members of the Board of Directors or a majority shall have power to fill such vacancy and the party chosen shall serve until the next election. Section 8 - The Board of Directors meetings shall be open to the membership and the minutes of the meetings shall be made available to any member of the Association upon request.

4 ARTICLE VI - NOMINATING COMMITTEE The Nominating Committee shall consist of three members appointed by the Board of Directors. It shall be the duty of the committee to nominate candidates for the Directors to be elected under Article VI Section 2 at the annual meeting of members. Additional nominations may be made from the floor. ARTICLE VII - OFFICERS The Board of Directors shall elect a President, a Vice-president, a Secretary and a Treasurer. An Organizational Meeting shall be held within a reasonable time following the annual meeting of the members. Officers shall hold office for a oneyear period and until their successors are elected and qualified, except in the event of death, resignation or removal. Officers may be elected to a successive one-year term. President - The President shall be the chief executive officer of the Corporation and preside at all meetings of the Board of Directors and the membership. The President shall have general supervision of all officers. The President shall sign all contracts or documents required to be executed by the Corporation and shall perform other acts usual to the office of President and any special duties assigned to him or her by the Board of Directors. As soon as convenient after his or her election but not later than July 1st of each year the President shall appoint a committee of two to audit the books of the Treasurer. The audit shall be complete for report at the annual meeting and before the newly elected Treasurer assumes his or her duties. Vice-president - The Vice-President shall have power to perform all the duties of President in the latter's absence or inability to perform his or her duties. The signature of the Vice-president shall be prima facie evidence of authority to act on behalf of the Corporation. Secretary - The Secretary shall issue notices of all meetings of the membership and directors when instructed so to do; shall attend such meetings and keep full and true copies of the minutes of such meetings in the minute book of the corporation; shall have charge of the corporate seal and shall attest the same by signature when attached to any conveyance, certificate or other instrument or document; and shall perform such other acts or duties as the Board of Directors designate. In the absence of the Secretary or the inability to perform, such duties may be performed by a Secretary pro tempore appointed at any meeting. Treasurer - The treasurer shall have custody of the Corporate funds and securities. He may be bonded, if so instructed by the Board of Directors. He shall keep full and accurate accounts of all receipts and disbursements and all fmancial

5 business transactions in books belonging to the Corporation. The fiscal year for tax purposes shall be October 1 through September 30 of the following year. The Treasurer shall deposit all moneys and securities and other valuable effects of the Corporation in such banks and depositories as the Board may direct. The Treasurer shall, either alone or in conjunction with other officers named by resolution of the Board, have power to withdraw by check or draft or other order, the funds of the Corporation on deposit in any bank or safety deposit box. When requested he or she shall make written reports to the President and to the Board of Directors showing the financial condition of the Corporation, shall perform such other duties as the Board may designate and shall make a full report at every membership meeting with a copy to the Secretary for the Secretary's minute book. The Treasurer shall send statements of dues and/or assessments at appropriate times. In the absence of the Treasurer or his or her inability to perform the duties of his or her office such duties may be performed by an Assistant Treasurer or other person designated by the Board of Directors. Vacancies - If the office of any officer of the Corporation becomes vacant by reason of death, resignation or otherwise, the Directors then in office, by a majority vote, may choose a successor, who shall hold office for the unexpired term of the officer vacating such office. Compensation - No officer or director shall receive any salary or compensation for his or her services unless and until the same shall have been authorized by the membership. ARTICLE VIII - AMENDMENT These revised By-Laws may be amended at any meeting of the Board of Directors by a majority vote, provided the amendment has been submitted in writing to each member of the Board at least 5 days prior to the vote. ARTICLE IX - PARLIAMENTARY AUTHORITY The rules contained in the current edition of Robert's Rules of Order Newly Revised shall guide the Association in all cases to which they are applicable, and in which they are not inconsistent with these Revised By-Laws and any special rules of order the Association may adopt.

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OUR WATERLINE HISTORY Homes on Lookout Mountain have water supplied by the Lookout Mountain Water District or are dependent on individual wells. Presently our water is some of the best in the state.

7 OUR WATERLINE HISTORY Homes on Lookout Mountain have water supplied by the Lookout Mountain Water District or are dependent on individual wells. Presently our water is some of the best in the state. This was not always so... Our water history begins in the early 1900s when the City of Golden was looking for water of better quality than was available from Clear Creek. The city acquired water rights to the headwaters of Beaverbrook on the north slope of Squaw Mountain to satisfy that need. Because the run-off from this tributary of Clear Creek peaks in late spring, it was necessary to build two reservoirs in the upper part of the drainage to provide water storage sufficient for year round use. A third reservoir for additional storage was built on Lookout Mountain, but the treatment plant was at the foot ofthe mountain. In order to obtain the right of way for a water line from the lower reservoir on Beaver Brook to the reservoir on Lookout Mountain the city offered to sell raw water to the several ranchers and farmers who lived along the proposed route. These ranchers were free to use the water for irrigation or even for domestic use if they saw fit. In the late 1940's and 1950's the use ofthe land on Lookout Mountain gradually began to change from rural to suburban. Subdividers, like our developer, William Weller, bought up the ranches that had water rights and obtained permission to install lateral water lines into the areas they wanted to subdivide for homes. Although this water was untreated, and frequently dirty, the City of Golden required individuals who built homes using this water to pay a tap fee and install water meters so that the City could impose a use fee of$l.oo per thousand gallons. Although the original owners understood that the water was untreated and frequently dirty, new residents moved into the area and were surprised to discover that they were drinking the equivalent of raw "ditch" water. Appeals to the City of Golden, the County Health Department, and the State Health Department were of little help until 1969 when the County Health Officer, Dr. William Russell, called a meeting of residents to study the situation and to seek a resolution to the problem. By then there were more than 200 homes served by the raw water. A committee was formed to plan a water district. In spite of the fact that a feasible plan was drawn up, the voters defeated the formation of a new district in an election held in Apparently, many voters feared a water district would raise taxes and attract new homes and subdivisions, or else they failed to appreciate the danger to their health. Taxes increased and new homes and subdivisions continued to grow anyway -- so the problem grew worse. By 1980, the City of Golden had developed alternate sources of water for the city and was willing to relinquish its rights to the Beaverbrook source. A second committee was formed and prepared a new plan that involved construction of a

8 water treatment facility near the base of the lower dam on Beaverbrook and a water storage facility near El Rancho. In order to insure a favorable vote they defined the district boundaries so as to include only those properties that were already being served by the existing distribution system. Moreover, all the candidates for the new board of directors for the proposed district stated it was their policy not to encourage new development or to offer water taps to developers. This assured a strong vote in favor of the district and for the candidates, most of whom had been involved in the work of the water committee. An election was held in 1984 and the new Lookout Mountain Water District was approved by the voters. The district immediately began the job of constructing the treatment plant, the storage facility, and the replacement of thousands of feet of leaky main line. By 1989, the homes within the district were receiving safe and potable water treated in the new facility. Properties that chose not to be served by the district continue to rely on wells. To date, the district has maintained a tight control on the sale of additional taps. The neighborhood lateral lines continue to be managed and maintained by each neighborhood. In the Panorama Estates area, that means that the nearly two miles of lateral water lines within the boundary of the several Weller subdivisions remain the collective responsibility of the homeowners. Thus, one of the principal duties of the Panorama Estates Homeowners Association is the maintenance of the water lines from the district main line at the intersection of Crestview Drive and Lookout Mountain Road to the tap for your individual house. To date, the Panorama Estates Homeowners Association has declined several requests to extend our line, for we do not have any obligation beyond the boundaries of the Weller subdivisions. Over the years there have been a number of breaks in these lateral lines. In addition, the size of the lines limits the flowages that can be made available to the fire hydrants in our area. A Waterline Study was presented in March, 1995, at which time the homeowners voted not to upgrade the waterline. An update of that study was provided in 2005 which listed subsequent improvements to the line and updated cost estimates for annual waterline repairs and/or system replacement. No recommendation was made to upgrade at that time. --Jim Vine

AMENDED BY-LAWS OF RIVERVIEW TERRACE HOMEOWNER S ASSOCIATION INC. 16 NOVEMBER 2011 ARTICLE I OFFICES AND DEFINITIONS

AMENDED BY-LAWS OF RIVERVIEW TERRACE HOMEOWNER S ASSOCIATION INC. 16 NOVEMBER 2011 The following By-laws shall govern the operation of Riverview Terrace Homeowner s Association Inc., a Florida corporation