BYLAWS OF
ROB ROY ON THE LAKE OWNERS ASSOCIATION, INC.
The name of
the organization shall be ROB ROY ON THE LAKE OWNERS ASSOCIATION, INC. (the “Association”).
ARTICLE
OBJECT
1. The purpose for which this non-profit
corporation has been formed is to administer and govern the affairs of the
residential community described as and composing the “Property” as that term is defined in the
Declaration (which said residential community
is also referred to herein as the “Property”).
2. All present or future owners, occupants
and tenants, and any other person or persons using the facilities of the
Property in any manner, shall be subject to the regulations set forth in these
Bylaws. The mere acquisition, occupancy
or rental of any of the lots which are a part of the Property (“Lot” or “Lots”)
will signify that these Bylaws are accepted and ratified and that the owner,
tenant or occupant thereof shall strictly comply with the terms and provisions
hereof.
3. Unless otherwise expressly provided
herein, all terms used in these Bylaws shall have the same meanings as set
forth in the Declaration of Covenants, Conditions and Restrictions for ROB ROY
ON THE LAKE SUBDIVISION (the “Declaration”) as recorded in Volume 8121, Page
440 of the Dead Records of Travis County, Texas, as the same is amended from
time to time.
ARTICLE II
MEMBERSHIP, VOTING, MAJORITY OF OWNERS, QUORUM, PROXIES
1. Membership. Each record owner, whether one or more
persons or entities, of fee simple title to any portion of the Property (“Owner”)
shall automatically become a member of the Association and be subject to these
Bylaws; provided, that the holder of a security interest in and to any portion
of the Property shall not be considered an Owner hereunder. Membership in the Association shall terminate
without any formal Association action whenever such person or entity ceases to
own such portion of the Property but such termination shall not relieve or
release any such former Owner from any liability or obligation incurred under
or in any way connected with the Association during the period of such
ownership and membership, or impair any rights or remedies which the Board of
Directors of the Association or others may have against such former Owner and
member arising out of or in any way connected with such ownership and
membership and the covenants and obligations incident thereto. No certificates of stock shall be issued by
the Association, but the Board of Directors may, if it so elects, issue one (1)
membership card to the Owner(s) of a portion of the Property. Such membership card shall be surrendered to
the Secretary of the Association upon the termination of ownership of such
portion of the Property designated thereon.
2. Voting. The Owner of each
3. Majority of Owners. As used in these Bylaws, the term “Majority of
Owners” shall mean those Owners with fifty-one percent (51%) of the votes
entitled to be cast.
4. Quorum. Except as otherwise provided in these Bylaws,
the presence, in person or by proxy, of fifty percent (50%) in value of
the Majority of Owners, as defined in paragraph 3 of this Article, shall
constitute a quorum.
5. Proxies. Votes maybe cast either in person or by
proxy. All proxies shall be in
writing and filed with the Secretary of the Association at or before the
appointed time of each meeting.
ARTICLE III
ADMINISTRATION
1. Association
Responsibilities.
The Owners shall have the responsibility of administering the Property
through the Board of Directors of the Association.
2. Place
of Meeting. All annual and special
meetings of the Association shall be held at such suitable and convenient place
as may be permitted by law and determined by the Board of Directors from time
to time, and as may be designated in the notices of such meetings.
3. Annual
Meeting. The first annual meeting
of the Association shall be called by the initial Board of Directors named in
the Articles of Incorporation of the Association on not less than ten (10) and not
more than fifty (50) days notice to the Owners at any time. Thereafter, annual meetings of the
Association shall be held on the first Tuesday of March of each succeeding
year. At each annual meeting there
shall be elected, by ballot of the Owners, a Board of Directors in
accordance with the requirements of paragraph 4 of Article IV of these
Bylaws. The Owners may also transact
such other business of the Association as may properly come before them at such
meeting.
4. Special
Meetings. Special
meetings of the Association may be called by the President, the Secretary,
the Board of Directors, or by the Owners having not less than one-tenth
(1/10) of the votes entitled to be cast at such meeting. The notice of any special meeting shall state
the time and place of such meeting and the purpose thereof. No business shall be transacted at a
special meeting except as stated in the notice, unless by consent of the
Owners representing at least two-thirds (2/3) of the total value of all of the
ownership interests present at such meeting, either in person or by proxy.
5. Notice
of Meetings. It shall be the duty of the
Secretary of the Association to mail notices of each annual or special meeting,
stating the time and place of such meeting and, in the case of a special
meeting, the purpose thereof, to each Owner of record, directed to the last
known mailing address of such Owner as shown on the records of the Association. Such notice shall be mailed at least ten (10)
but not more than fifty (50) days prior to the date of such meeting. In lieu of mailing such notice as herein
provided, notice may be delivered in person or left at the residence of an
Owner in such Owner’s absence. The
mailing or delivery of a notice in the manner provided in this paragraph shall
be considered notice served. Upon
request, any mortgages of record or its designee may receive a copy of such
notice.
6. Adjourned
Meeting. If any meeting of the
Owners cannot be organized because a quorum has not attended, the Owners
who are present, either in person or by proxy, may adjourn the meeting and call
another meeting with notice to the Association that another meeting must be
called because of the lack of a quorum. The
required quorum at the second meeting shall be twenty-five percent (25%) of the
Majority of Owners. At the third
meeting and at successive meetings the requirement shall be ten percent (10%)
of the Majority of Owners.
7. Order
of Business. The order
of business at all meetings of the Owners shall be as follows:
(a)
Roll call and certifying proxies
(b)
Proof of notice of meeting or waiver of notice
(c)
Reading of minutes of preceding meeting
(d)
Reports of officers
(e)
Reports of committees
(f)
Election of Directors
(g)
Unfinished business, and
(h)
New
business.
ARTICLE IV
BOARD OF DIRECTORS
1.
Number and Qualification. The affairs of the Association shall be
governed by a Board of Directors composed of three (3) persons. The following persons shall act in such
capacity and shall manage the affairs of the Association until the first annual
meeting of the Association, or until they resign and their successors are
elected, whichever occurs first, to wit: John S. Lloyd, Silvestra Garza, and
Robert Fiebig.
2.
Duties. The Board of Directors shall have the
following duties:
(a)
To keep in good order, condition and repair all lands,
improvements and personal property owned by or leased to the Association.
(b)
To insure and keep insured all of the property owned by the
Association. Further, to obtain and
maintain comprehensive liability insurance in accordance with the terms
of the Declaration, and to insure and keep insured all of the fixtures,
equipment and personal property acquired by the Association for the benefit of
the Association and the Owners of a portion of the Property and their
Mortgagees. The limits and coverage
shall be reviewed at intervals of not less than three (3) years and adjusted,
if necessary, to provide such coverage and protection as the Association may
deem prudent.
(c)
To keep and maintain full and accurate books and records showing
all of the receipts, expenses or disbursements of the Association and to permit
examination thereof at any reasonable time by any Owner or any mortgages of a
Lot.
(d)
To annually prepare and upon request to deliver to each
Owner a statement summarizing all receipts, expenses or disbursements
since the last such statement. Such
statements shall be made available, upon request, to any mortgagee of a
(e)
To accept, own, operate and maintain all areas of the Property
which may be conveyed or leased to it by Declarant, together with all
improvements of whatever kind and for whatever purpose which may be located in
said areas; and to accept, own, operate and maintain all other property, real
and personal, conveyed or leased to the Association by Declarant as defined in
the Declaration and to maintain in good repair and condition all lands,
improvements, and other property owned by or leased to the Association.
(f)
To
pay all real and personal property taxes, and other taxes and assessments
levied upon or with respect to any property owned by or leased to the
Association, to the extent that such taxes and assessments are not levied
directly upon the members of the Association.
The Association shall have all rights granted by law to contest the
legality and the amount of such taxes and assessments.
(g)
To execute mortgages, both construction and permanent, for the
construction of facilities, including improvements on property owned by or
leased to the Association, and to accept lands within the Property, whether or
not improved, from Declarant, as defined in the Declaration, subject to such
mortgages or by assuming such mortgages.
Financing may be affected through conventional mortgages or deeds of
trust, the issuance and sale of development or other bonds, or in any other
form or manner as may be deemed appropriate by the borrower, whether Declarant,
as defined in the Declaration, or the Association. The mortgage or other security interest given
to secure repayment of any debt may consist of a first, second or other junior
lien as shall be deemed appropriate by borrower, whether Declarant, as defined
in the Declaration, or the Association, on the improvement or other facility to
be constructed, together with such underlying and surrounding lands as the
borrower deems appropriate. The debt
secured by such mortgage or other security instrument may be retired from and
secured by the revenues generated by dues, use fees, assessment of the members
of the Association, or otherwise, or any combination thereof, as may be deemed
appropriate by Declarant or the Association, as the case may be, but subject to
the limitations imposed by this Declaration.
(h)
To meet at least once each year.
3.
Powers. The Board of
Directors shall have the powers necessary for the administration of the affairs
of the Association and for the operation and maintenance of the Property. The Board of Directors may do all such acts
and things as are not, by these Bylaws, the Articles of Incorporation of the
Association, or the Declaration directed to be exercised and done by the
Owners. In addition to the express
powers of the Board of Directors granted in these Bylaws, the Articles of
Incorporation and the Declaration, the Board of Directors shall, unless expressly
prohibited by these Bylaws, Articles of Incorporation, or the Declaration, have
all authority granted to the boards of directors of non-profit corporations
organized as owners’ associations under the laws of the State of Texas. The powers of the Board of Directors shall
include the following:
(a)
To administer and enforce the covenants, conditions, restrictions,
uses, limitations, obligations, and all other provisions as set forth in the
Declaration, by suit or otherwise.
(b)
To establish, make and enforce compliance with such rules s may be
necessary for the operation, use and occupancy of the Property, together with
the right to amend same from time to time.
A copy of such rules and regulations shall be delivered or mailed to
each member of the Association promptly upon the adoption thereof.
(c)
To prepare a budget for the Association and to fix, determine,
levy and collect the monthly Assessments to be paid by each of the Owners and
by majority vote of the Board to adjust, decrease or increase the amount of the
monthly Assessments, subject to the provisions of the Declaration.
(d)
To
fix, determine, levy and collect in accordance with the Declaration the special
Assessments to be paid by each of the Owners in order to meet increased operating
or maintenance expenses and/or costs, and additional capital expenses.
(e)
To collect delinquent Assessments by suit or otherwise and to
enjoin or seek damages from an Owner, as provided in the Declaration and these
Bylaws.
(f)
To protect and defend the entire Property from loss and damage by
suit or otherwise.
(g)
To
borrow funds in order to pay for any expenditure or outlay required pursuant to
the authority granted by the provisions of the recorded Declaration, the
Articles of Incorporation and these Bylaws; to pledge or otherwise grant a
security interest in the Association’s Assessments or funds to secure such
indebtedness; and to execute all such instruments evidencing such indebtedness
as the Board of Directors may deem necessary or appropriate. Such indebtedness shall be the several
obligations of the Owners in the same proportion as their voting interests.
(h)
To purchase or lease one or more of the Lots for use by the
Association and to execute on behalf of the Association any contracts,
leases, mortgages or other appropriate instruments for the same.
(i)
To
enter into contracts within the scope of their duties and power, including, but
not limited to, management agreements as set forth in Article VI of these
Bylaws.
(j)
To establish one or more bank accounts, savings accounts or other
investment accounts for the common treasury and for all separate funds as may
be required or may be deemed advisable by the Board of Directors.
(k)
To designate and employ the personnel necessary for the
maintenance and operation of the Association Property and of the business of
the Association.
(l)
In
general, to carry on the administration of the Association and to do all of
those things, necessary and reasonable in connection therewith.
4.
Election and Term of Office. At the first annual meeting of the
Association, the Owners shall elect two (2) members of the Board of
Directors each of whom shall serve for a term of two (2) years and
one (1) member of the Board of Directors who shall serve for a term
of one (1) year. At each annual
meeting thereafter, the Owners shall elect members of the Board of Directors
for two (2) year terms, as vacancies occur by expiration of any Director’s term
of office. The three (3) persons acting
as the original Directors shall hold office until their successors have been
elected and hold their first meeting pursuant to the terms and provisions of
these Bylaws and the Declaration.
5.
Vacancies. Vacancies on the Board of Directors caused by
any reason other than the removal of a Director by a vote of the Association
shall be filled by vote of the majority of the remaining Directors, even though
the number of remaining Directors may constitute less than a quorum; and each
person so elected shall serve as a Director until the next annual meeting of
the Association, at which meeting the Association may ratify his or her
appointment or may elect a successor to serve the remaining term of his or her
predecessor.
6.
Removal of Directors.
At any regular or special meeting of the Association duly called, any
one (1) or more of the Directors may be removed with or without cause by a
majority of the quorum of the Owners present, and a successor Director may than
and there be elected to fill the vacancy thus created or may be filled at any
regular or special meeting called for the purpose, but in any event, such
vacancy shall be filled at the next annual meeting of the Association. Provided, however, that in no event may any
member of the initial Board of Directors be removed by vote of the Association
prior to the first annual meeting of the Association, nor may the number of
Directors be changed prior to the first annual meeting of the Association. Any Director whose removal has been proposed
by the Owners shall be given an opportunity to be heard at the meeting.
7.
Organizational Meeting. The first meeting of a newly elected Board
of Directors shall be held within ten(10) days of its
election at such place as shall be fixed by the Directors at the meeting at
which such Directors were elected, and no notice shall be necessary to the
newly elected Board of Directors in order legally to constitute such meeting;
provided, however, that a majority of the Board shall be present.
8.
Nomination. Nomination for election to the Board of
Directors shall be made by a nominating committee which shall consist of
a chairman who shall be a member of the Board, and “two “ or more “Owners” who shall have been appointed by the
Board of Directors prior to each annual meeting to serve from the close of that
annual meeting until the close of the next annual meeting, and such appointment shall be announced at
each annual meeting. Should a
vacancy on the nominating committee occur during any year, the Board may fill
such vacancy without further notice to the members of the Association. The nominating committee shall make as many
nominations for election to the Board as it shall in its discretion determine,
but not less than the number of vacancies to be filled. Nominations may also be made from the
floor at the annual meeting.
9.
Regular Meetings.
Regular meetings of the Board of Directors may be held at such time and
place as shall be determined, from time to time, by a majority of the
Directors, but at least one (1) meeting shall be held during each fiscal
year. The annual organizational meeting
of the Board shall be considered a regular meeting. Notice of regular meetings of the Board of
Directors (other than the organizational meeting) shall be given to each
Director, either personally or by mail, telephone or telegraph, at least three
(3) days prior to the day named for such meeting.
10. Special Meetings. Special meetings of the Board of Directors
may be called by the President or Secretary of the Board on three (3) days
notice to each Director, given personally, or by mail, telephone or telegraph,
which notice shall state the time, place and purpose of the meeting. Special meetings of the Board of Directors
shall be called by the President or Secretary in like manner and on like notice
upon the written request of at least two (2) Directors.
11. Waiver of Notice. Before or at any meeting of the Board of
Directors, any Director may, in writing, waive notice of such meeting, and such
waiver shall be deemed equivalent to the giving of such notice. Attendance by a Director at any meeting of
the Board shall constitute a waiver of notice by such Director of the time and
place thereof. If all of the Directors
are present at any meeting of the Board, no notice shall be required and any
business may be transacted at such meeting.
12. Board of Directors’ Quorum. At all meetings of the Board of Directors, a
majority of the Directors shall constitute a quorum for the transaction of
business, and acts of the majority of the Directors present at a meeting at
which a quorum is present shall constitute acts of the Board of Directors. If, at any meeting of the Board of Directors,
less than a quorum of Directors is present, the majority of those present may
adjourn the meeting from time to time, without notice other than announcement
at the meeting until a quorum is obtained.
At any such adjourned meeting, any business which might have been
transacted at the meeting as originally called may be transacted without
further notice.
13. Fidelity Bonds. The Board of Directors shall require that all
officers and employees of the Association handling or responsible for funds of
the Association furnish fidelity bonds in such amounts as may be determined
by the Board. The premiums on such bonds
shall be paid by the Association.
14. Compensation. No member of the Board of Directors shall
receive any compensation for acting as such.
15. Actions Without
a Meeting. Notwithstanding any other
provision of these Bylaws, any action required or permitted to be taken at a
meeting of the Board of Directors may be taken without a meeting if a consent in writing, setting forth the action so taken, is
signed by all of the members of the Board of Directors. Such consent shall have the same force and
effect as a unanimous vote at a meeting.
ARTICLE V
OFFICERS
1.
Designation. The officers of the Association shall
be a President, a Vice President, a Secretary, and a Treasurer, all of
whom shall be elected by the Board of Directors. Any Director may hold a position as
officer of the Association, and any person may hold two (2) or more
offices, except that the President and any Vice President shall not also hold
the office of Secretary or Assistant Secretary.
2.
Election of Officers.
The officers of the Association shall be elected annually by the
Board of Directors at the organizational meeting of each new Board and shall
hold office at the pleasure of the Board.
3.
Removal of Officers.
Upon the affirmative vote of a majority of the members of the Board of
Directors, any officer may be removed, either with or without cause, and his
successor may be elected at any regular meeting of the Board of Directors or at
any special meeting of the Board called for such purpose.
4.
President. The
President shall be the chief executive officer of the Association and shall
preside at all meetings of the Association.
The President shall have all of the general powers and duties which are
usually vested in the office of president of an association including, but not
limited to, the power to appoint committees from among the Owners to assist in
the conduct of the affairs of the Association.
The President shall sign, with the Secretary or an Assistant Secretary,
certificates of membership, any deeds, mortgages, bonds, contracts, leases or
other instruments which the Board of Directors has authorized, except in cases
where the signing and execution thereof has been expressly delegated by the
Board of Directors to some other officer or agent of the Association, or is
required by law to be otherwise signed or executed. The President shall not have the power to
bind the Association to any employment agreement on behalf of the Association
unless such employment agreement has been expressly approved and authorized in
advance by resolution of the Board of Directors. In the event any such employment agreement
(whether or not these Bylaws be amended incident thereto) limits or qualifies
the authority of any such officer in a manner inconsistent with these Bylaws or
imposes on such officer duties not provided for under these Bylaws, then the
provisions of such employment agreement limiting or qualifying such authority
and imposing such duties shall be valid and effective notwithstanding any
inconsistency between the provisions of the employment agreement and the
provisions of these Bylaws.
5.
Vice President. The Vice President shall have all of the
powers and the authority to perform all the functions and duties of the
President in the absence of the President or his inability, for any reason, to
exercise such powers and functions or to perform such duties, and shall also
perform any duties as may be required, from time to time, by the President or
the Board of Directors.
6.
Secretary. The
Secretary shall: (i) keep the minutes of all meetings of the Board of Directors
and the minutes of all meetings of the Association in books which shall be
provided for that purpose; (ii) see that all notices are duly given in
accordance with the provisions of these Bylaws and as required by law; (iii) be
custodian of the records and books of the Board and the Association and of the
seal of the Association; (iv) see to it that the seal of the Association is
affixed to all certificates of membership prior to the issuance thereof and to
all documents which are duly authorized to be executed on behalf of the
Association under its seal in accordance with these Bylaws; (v) keep a register
of the last known post office address of each Owner; (vi) keep records of an send notices to
Mortgagees, as required by these Bylaws and the Declaration; (vii) together
with the President, sign all certificates of membership, the issuance of which
shall be approved by the Board of Directors; and (viii) in general, perform all
the duties incident to the office of Secretary and as may be assigned, from
time to time, by the President or by the Board of Directors.
The Secretary shall compile, keep up to date and maintain at the
principal office of the Association a complete list of members of the
Association and of their last known addresses, as shown on the records of the
Association. Such list shall also show,
opposite each member’s name, the address of the portion of the Property owned
by such member. Such list shall be open
to inspection by members and other persons lawfully entitled to inspect the
same at reasonable times during regular business hours. The address of each member shown in such list
shall be the address to which all notices shall be sent.
7.
Treasurer. The Treasurer shall receive and deposit in
appropriate bank accounts, as designated by the Board of Directors, all funds
of the Association and shall disburse such funds as directed by resolution of
the Board of Directors; provided, however, that a resolution of the Board of
Directors shall not be necessary for disbursements made in the ordinary course
of business conducted within the limits of a budget adopted by the Board of
Directors and in an amount not to exceed the sum of two hundred dollars
($200.00), in addition, the Treasurer shall have authority to: sign all checks and promissory notes of the
Association; keep full and accurate accounts of all receipts and disbursements
in proper books of account; cause the preparation of an annual statement of the
Association’s books at the completion of each fiscal year; prepare an annual
budget and a statement of income and expenditures to be presented to the
membership of the Association at its regular annual meeting, and deliver copies
thereof to the members; and perform all other duties incident to the office of
Treasurer or assigned by the Board of Directors.
Amendment
approved at January 2008 HOA annual meeting.
The position of Secretary has changed from Secretary to a combined position of Secretary/Treasurer. The voting members of the Board are now President, Vice-President and Secretary/Treasurer.
8.
Additional Officers.
Officers in addition to the President, Vice President, Secretary and
Treasurer may be appointed by the Board of Directors, to hold office for such
terms and to have such authority, exercise such powers, perform such duties as
may be determined from time to time by the Board by resolution not inconsistent
with these Bylaws. Such Assistant
Secretaries as may be appointed by the Board of Directors shall be authorized
to sign, with the President, certificates of membership authorized to be issued
by a resolution of the Board of Directors.
Such Assistant Treasurers shall, if required by the President or Board
of Directors, give bonds for the faithful discharge of their duties in such
sums and with such sureties as the President or Board of Directors may
determine. Assistant Treasurers and
Assistant Secretaries shall, in general, perform such duties as may be assigned
to them by the Treasurer or the Secretary, respectively, or by the President or
by the Board of Directors.
9.
Vacancies. A vacancy in any office because of the death,
resignation, removal, disqualification or otherwise of the officer previously
filling such office, may be filled by the Board of Directors for the unexpired
portion of the term.
ARTICLE VI
MANAGEMENT AGREEMENT
Anything
contained in these Bylaws to the contrary notwithstanding, the Board of
Directors shall have the power and authority to enter into a management
agreement with a management
of its choice, at a rate of compensation based upon the and functions performed by said
management company, and such terms and conditions acceptable to the Board of
Directors. The Board may delegate any of
its powers, duties and functions to the managing agent named therein provided,
however, that the terms of the management agreement shall be in compliance with
the provisions of the Declaration. The
members of the Board shall not be liable for any act of omission of the managing agent
or any improper exercise of any duty, power or function delegated by the Board
by written instrument executed by a majority of the Board of Directors.
ARTICLE VII
AMENDMENTS TO BYLAWS
These Bylaws
may be altered, amended, or repealed and new Bylaws
may be adopted by a majority of the Owners present at any regular meeting of the
Association or at any special meeting of the Association called for such purpose. Owners may delegate the power to alter,
amend, and/or repeal the Bylaws to the Board of Directors. In no event shall the Bylaws be amended to
conflict with the Declaration. In the
event of any conflict between the Declaration and these Bylaws, the Declaration
shall control.
ARTICLE VIII
MORTGAGES
1.
Notice to Association.
An Owner who mortgages his portion of the Property shall notify the
Association through the Managing Agent, if any, or the President, giving the
name and address of the Mortgages. The
Secretary of the Association shall maintain such information in a book entitled
“Mortgages of the Property”.
2.
Notice of Unpaid Assessment. The Association shall, at the request of a
Mortgagee of a portion of the Property, report any unpaid Assessments due from
the Owner of such portion of the Property.
ARTICLE IX
NON-PROFIT ASSOCIATION
The
Association is not organized for profit.
No Owner, member of the Board of Directors or person from whom the
Association may receive any property or funds shall receive or shall be
lawfully entitled to receive any pecuniary profit from the operation thereof,
and in no event shall any part of the funds or assets of the Association be
paid as salary or compensation to, or be distributed to, or inure to the
benefit of any member of the Board of Directors; provided, however, always (1)
that reasonable compensation may be paid to any member acting as an agent or
employee of the Association for services rendered in effecting one or more of
the purposes of the Association, and (2) that any member of the Board of
Directors may, from time to time, be reimbursed for actual and reasonable
expenses incurred in connection with the administration of the affairs of the
Association.
ARTICLE X
REGISTERED OFFICE
The principal
office of the Association shall be located at 1250 Capital of Texas Hwy., Bldg.
1,
ARTICLE XI
TRANSACTIONS WITH MEMBERS, DIRECTORS AND OFFICERS
The
Association may enter into contracts or transact business with one or more of
its Directors, officers, or members, or with any firm of which one or more of
its Directors, officers or members are members, or with any corporation,
association, company, organization or entity in which one more of its
Directors, officers or members are directors, officers, trustees, shareholders,
beneficiaries or are otherwise interested, and, in the absence of fraud, such
contract or transaction shall not be invalidated or otherwise affected by the
fact that the votes of such Directors, officers or members having such adverse
interest may have been necessary to obligate the Association upon such contract
or transaction.
ARTICLE XII
EXECUTION OF DOCUMENTS
The persons
who shall be authorized to execute any and all contracts, documents,
instruments of conveyance or encumbrances, including promissory notes, shall be
the President or any Vice President and the Secretary or any Assistant
Secretary of the Association.
ARTICLE XIII
NOTICES
All notices to
members of the Association shall be given by delivering the same to each Owner
in person, or by depositing the notices in the U.S. mail, postage prepaid,
addressed to each Owner at the address last given by each Owner to the
Secretary of the Association. If an
Owner shall fail to give an address to the Secretary for mailing of such
notices, all such notices shall be sent to the Lot of such Owner and all Owners
shall be deemed to have been given notice of the meetings upon the proper
mailing of the notices to such addresses, irrespective of the actual receipt of
the notices by the Owners..
ARTICLE XIV
SEVERALTY
The invalidity of any provision or provisions of these Bylaws
shall not be deemed to impair or affect in any manner the validity,
enforceability or effect of the remainder of these Bylaws, and in such event,
all of the other provisions of these Bylaws shall continue in full force and
effect as if such invalid provision had never been included herein.
IN WITNESS WHEREOF, undersigned have hereunto set their
hands and seals as of the _____ day of _____________, ______.
BOARD OF
DIRECTORS:
__________________________________
John S. Lloyd,
Director
__________________________________
Silvestre
Garza, Director
__________________________________
Robert Fiebig,
Director
THE STATE OF
This
instrument was acknowledged before me on this _____ day of __________, ______,
by John S. Lloyd, Director.
___________________________________
Notary Public,
State of
___________________________________
(Name - Typed
or Printed)
My Commission
Expires: ________
THE STATE OF
This
instrument was acknowledged before me on this _____ day of ____________, _____,
by Silvestre Garza, Director.
_______________________
Notary Public,
State of
________________________
(Name - Typed
or Printed)
My Commission
Expires:______________
THE STATE OF
This
instrument was acknowledged before me on this _______ day of ___________,
_____, by Robert Fiebig, Director.
____________________________
Notary Public,
State of
_____________________________
(Name - Typed
or Printed)
My Commission
expires: _________
EXHIBIT “A”
PROPERTY DESCRIPTION
Lots 1-41, Block A, and Lots 72-115, Block B, Rob Roy on the Lake,
Section One, a subdivision of record in Travis County, Texas, according to the
map or plat thereof in Book 83, Pages 112D, 113A, 113B, 113C, 113D, 114A, and
114B, Flat Records of Travis County, Texas, and Lots 1-47, Block B, and Lots
54-68, Block B, and Lots 1-20, Block C, and Lots 1-8, Block D, Rob Roy on the
Lake, Section Two, a subdivision in Travis County, Texas, according to the map
or plat thereof of record in Book 83, Pages 170D, 171A, 171B, 171C, 171D, and
172A, Plat Records of Travis County, Texas.