By-laws

SWISS VILLAGE EAST PROPERTY OWNERS ASSOCIATION, INC.

ARTICLE 1

Name. The name of this non-profit corporation is SWISS VILLAGE EAST PROPERTY OWNERS ASSOCIATION, INC

ARTICLE II

The purposes for which the Association is formed are as follows:

To promote the health safety and welfare of the residents within Swiss Village East Subdivision, and such additions thereto as may hereafter be brought within the jurisdiction of this corporation by annexation, and for this purpose to:

(a) Own, acquire, build, operate and maintain recreation parks, playgrounds, commons, streets, footways, including buildings, structures, personal properties incident thereto, herein after referred to as the “the common properties and facilities”;

(b) Provide exterior maintenance for the lots and homes with the Subdivision;

(d) Maintain unkempt lands or trees;

(e) Provide fire and police protection;

(f) Supplement municipal services;

(g) Fix assessments (or charges) to be levied against the Subdivision;

(h) Enforce any and all covenants, restrictions and agreements applicable to the Subdivision;

(i) Pay taxes, if any on the common properties and facilities; and

(j) Insofar as permitted by law, to do any other thing that, in the opinion of the Board of directors, will promote the common benefit

and enjoyment of the residents of the Subdivision.

ARTICLE III MEMBERSHIP

Section 1. Definition of Membership. Any owner or joint owners of property in SWISS VILLAGE EAST shall be a member of the

Association. A membership unit is a person or persons or organizations who individually or jointly owns a lot in the Subdivision, and shall be

entitled to one (1) vote per lot.

Section 2. Land Contract Vendees. Where any of the said lots have been sold on an executory Land Contract, the land contract

vendees thereof shall be considered to be the owners and members of the Association

Section 3. Voting Rights of Membership. Each membership unit shall be entitled to one (1) vote in the various matters of the

Association provided that the unit is current on the payment of membership dues.

ARTICLE IV FINANCES

Section 1. Dues. Each membership unit shall pay to the Association the annual dues that become due and payable on the

first day of January in each year beginning with January 1, 1975.

(a) Annual dues shall be assessed as follows:

1. $100 on each SVE lot on which stands a home, chalet, or other such structure; and

2. $67 on vacant SVE lots.

(b) If a property owner pays the annual dues on a lot by April 30 of the year in which assessed he or she may pay a reduced

amount as follows:

1. $90 for each lot described in (a) -1; and

2. $60 for each lot described in (a) -2.

(c) If an annual dues assessment in not paid by April 30 the year in which assessed, a dues penalty of 1% per month on the unpaid

balance of annual any amount of an annual dues shall accrue so long as any amount of annual dues remains unpaid.

(d) If any amount of an annual dues assessment on a lot remains unpaid as of December 31 of the year in which assessed,

an $25 collection fee shall be assessed and, further, the SVEPOA Board of Directors shall institute whatever legal proceedings they

deem appropriate to collect the unpaid balance of annual dues, dues penalty, and collection fee.

Section 2. Failure to Pay Dues or Assessments. Any membership unit who shall be sixty (60) days or more in default in the payment

of the annual dues shall not be in good standing and shall not be entitled to vote in any matters of the Association nor to hold office in the

Association until such delinquencies have been paid.

Section 3. Enforcement. The Association shall have the power and the right in its own name to take and prosecute all suits, legal equitable

otherwise which may, in the opinion of the Board of Directors, be necessary or advisable for the collection of such dues and to take such

other steps as it may deem expedient to impose a lien upon the membership unit property.

ARTICLE V MEETING AND ELECTIONS

Section 1. Annual Meeting. The annual meeting of the Association shall be held during the month of May in each year beginning with

the year 1977 on such date and at such time and at such place as shall be determined by the Board of Directors and specified in a

written notice thereof. The purpose of the Annual Meeting is for the election of Directors and for the transacting of such other business

as may properly come before the meeting.

Section 2. Quorum. At any meeting of the members of the Association twenty (20) members present shall constitute a quorum for the

election of Directors or for the transaction of any business as may properly come before the meeting. A simple majority of those voting,

either for themselves or by written proxies, shall decide the issue.

Section 3. Rule for Conduct of Meeting. Roberts’ Rules of order, most recently revised edition, shall be the authority for the conduct of

all meetings of the Association.

Section 4. Special Meetings. A special meeting of the membership may be called at any time by the President or by a majority of the Board

of Directors, or upon written request of twenty-five (25) members, provided however, that notice by given as specified in these By-Laws

and must state the purpose of the special meeting.

Section 5. Notice. At least ten (10) days written notice of all meetings of the membership shall be delivered to each membership unit

at his address shown on the records of the Association.

Section 6. Election of Directors.

(a) The President of the Association shall appoint three (3) members in good standing to be a nominating committee for the

election of Directors at least thirty (30) days prior to the annual meeting. Additional nominations of Directors may be made

orally at the annual meeting provided the nominee is in attendance and agreeable to the nomination or has given his written

consent to the nomination.

(b) All elections shall be by ballot, which ballot shall have been prepared by the nominating committee prior to the annual meeting.

The nominating committee shall count, tabulate and report the votes cast. In case of a tie for the last Directorship, run-off

election will be held.

ARTICLE VI BOARD OF DIRECTORS

Section 1. Number and term of Directors. A Board of Directors composed of ten (10) members shall manage the business, property

and affairs of the Association. At the annual meeting held in January 1975, five (5) Directors ere elected for a two (2) year term and five

(5) Directors were elected for a one (1) year term. At each subsequent annual meeting five (5) Directors shall be elected to fill the

expiring places on the Board for a full two-year term. At any meeting of the Board of Directors, a majority of the entire membership of

the Board, as then constituted by the By-Laws, shall constitute a quorum for the transaction of business and a majority of the Directors

present provided there is a quorum, shall decided any question that may come before the meeting. The Directors whose terms expire

in January , 1977, and January 1978, respectively shall serve for an extended period until the annual meeting held in May,1977, and

May, 1978 as the case may be.

Section 2. Vacancies. If the office of any Director shall become vacant for any reason, the remaining Directors, being a quorum may elect a

successor who shall hold office for the remainder of the term of the Director he replaced.

Section 3. Powers. The Board of Directors shall elect a President, Vice-President, Secretary, and Treasure of the Association who shall

be members of the Board of Directors. These officers shall hold office for the term of one (1) year or until their successors are elected and

qualified. The Board of Directors shall also have the power to appoint such other officers and agents and agents of the Association as may be

deemed necessary for the transaction of business of the Association. The Board of Directors may exercise such other powers and to do

all such things as may be necessary for the purpose of the Association, subject nevertheless to the provision of law, Articles of Incorporation

and these By-Laws.

Section 4. Meetings. Regular meetings of the Board of Directors shall be held at such time and places as the majority of the Board of

Directors shall, from time to time, determine. Special Meeting of the Board of Directors may be called at any time by the President or

Secretary or a majority of the Board of Directors.

Section 5. Compensation. No Director or officer shall receive any salary or compensation for his services to the Association unless otherwise

specifically ordered by the Board of Directors.

ARTICLE VII OFFICERS

Section 1. Title, Election, and Term. The officers of this Association shall be a President, Vice-President, Treasurer, and Secretary and shall be

elected by the Board of Directors and shall hold office for one (1) year or until their successors are elected and qualified.

Section 2. Duties. The duties of the officers of the Association shall be as follows:

(a) President. It shall be the duty of the President to preside at all meeting of the Association and Board of Directors and at the annual

meeting shall present his report. The President shall appoint and be and ex officio member of all committees, and all appointments

to be subject to the approval of the Board of Directors and shall sign all written contracts and obligations and shall perform such

other duties as are incident to this office.

(b) Vice-President. The Vice President in the absence or disability of the President shall have the power to perform the duties of the

President. The Vice-President shall act as Parliamentarian at all meetings.

(c) Treasurer. The Treasurer shall have custody of all funds and shall keep in appropriate books belonging of the Association, and full and

accurate accounting of all receipts and disbursements. He shall deposit all moneys in the name of the Association in such

depositories as may be designed for that purpose by the Board of Directors. He shall disperse the funds of the Association as

may be ordered by the Board, taking proper vouchers for such disbursements, and shall render to the President and the Directors

at the regular meeting of the Board, or whenever requested by them, an accounting of all his transactions as Treasurer and of the

financial condition of the Association. He shall report of the Board any members who is more than sixty (60) days in arrears in

dues or any other indebtedness to the Association. All check, drafts or orders for payment of money shall be signed by the

Treasurer in the name of the Association and shall be countersigned by the President.

(d) Secretary. The Secretary shall issue all notices of meeting of the Board of Directors and all the general membership. The

Secretary shall also keep a register of all members of the Association and shall keep the minutes of the meeting of the

Association and the Board of Directors and perform such other duties as are incident to the office or as prescribed by the

Board of Directors.

ARTICLE VIII COMMITTEES

Section 1. Membership. All committees shall be appointed by the President by and with the advice and consent of the Board of

Directors. Vacancies shall be filled in a like manner.

Section 2. Initial Committees to be formed. The initial committees to be formed are as follows:

Architectural Control Committee
Nominating Committee
Financial Committee
Maintenance Committee (Beautification and Common Grounds)
Social Committee

Additional committees may be appointed from time to time for the purpose of handling such additional projects as my develop in the

future years.

ARTICLE IX AMENDMENTS

Section 1. The By-Laws of this Association may be amended at any time by a majority of the vote of the membership at any general or special

meeting. The proposed amendment shall be contained in the notice of the meeting sent to the general membership. Amendments of

the By-Laws adapted by the membership of the Association shall be given immediate effect.