We, the undersigned, being owners in fee of those lots constituting the subdivision known as Sumner Estates aka Sumner Oaks, an addition to the City of (Blank), (Blank) County, (Blank), out of the Josiah Ashlock Survey Abstract Number 24, which Section are described more fully in the plat recorded in Cabinet F, Page 265 of the Plat Records of (Blank) County , (Blank), hereby establish an Association upon the following terms and conditions: I As the sole representative of the majority of homeowners and residents in Sumner Oaks, the Association shall be the Exclusive body delegated with the powers hereinafter provided for. II The purpose of the Association shall be to generally promote the health, safety and welfare of the homeowners and residents of Sumner Oaks. III Membership in the Association shall be entirely voluntary. Payments of dues shall constitute membership in good standing. Association dues shall become annual and effective July 1, 1990 payable on or before July 31, 1990. Dues shall be used for Association activities such as newsletter stationary, mailing, membership name/address/phone list, neighborhood activities and subdivision entrance maintenance. Each member, upon giving formal notice in writing to the President of the Association, may voluntarily drop out of the Association at any time and thereby relinquish all future voting rights. Members moving their principal residence out of Sumner Oaks are automatically dropped from the Association membership. All future new residents of Sumner Oaks will be offered membership in the Association. If at a later date, the Association should decide to implement a change in dues, fees or other mandatory assessment structure, a two thirds (2/3) vote is required of all Association members meeting in regular or special session. IV The affairs and operation of the Association shall be conducted by the Membership, by and through a Management Committee consisting of a President, vice President, Secretary and Treasurer, duly elected and appointed by a simple majority of the Membership of the Association meeting in regular or special session. The Association may take any action authorized by these Articles, provided that such action has been approved by a simple majority of the membership meeting in regular or special session. V At no time shall the Association enter into a binding contract with
others for the purpose of procuring either realty, products or services
unless such acquisition has been approved by a simple majority of the members
of the Association voting in regular or special session.
These articles may be amended by a majority of the membership present
at any given meeting, regular or special, provided that notice of such
meeting and the purpose thereof has been given not less than ten (10) days
nor more than thirty (30) days prior to the appointed time of meeting.
Each such meeting shall be conducted at a place within the City of (Blank),
in accordance with the notice given thereof, or as otherwise provided in
the Bylaws, if any, adopted by the membership of the Association.
These Articles shall be binding upon and inure to the benefit of the
successors, heirs, assigns and legal representatives of the initial members
subscribing hereto
We, the undersigned, the Owners and residents of the lots located in Sumners Oaks, hereby accept and subscribe to the foregoing Articles. |
