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VILLA BELMONT CONDOMINIUMS COUNCIL DUTIES

Administer affairs of the Condominium Association, including, but not limited too:

(1)   Amend Rules and Regulations respecting the use of the Property and for the enjoyment of the Condominium Association without conflicting with the Unit Property Act or Declaration.  Enforce, by legal means, the provisions of the Code of Regulations, for the use of the property adopted by it.

(2)  Defend, bring litigation and settle litigation on behalf of itself, the property and the unit owners and to pay any adverse judgment entered.

(3)  Prepare an annual budget, establish the yearly assessment of each unit owner, and the yearly expenditures for the Condominium Association.  If necessary, issue a “Special Assessment” against unit owners to defray the cost of unexpected expenses for the Condominium Association.  Establish method of assessment and collection thereof.

(4)  Provide for the operation, care, upkeep, and maintenance of all common elements and services of the Condominium Association including hiring and firing of personnel.  Provide for the compensation of personnel and purchase of equipment, supplies, and material to be used by personnel in the performance of their duties.  Enter into or ratify management contracts for the operation, maintenance or management of “Villa Belmont”.

(5)  Maintain bank accounts for deposit and expenditures of monies.  Designate required signatures. Keep detailed accounts of receipts and expenditures and keep all records in accordance with good and accepted Accounting practices and have an audit at least once a year by an outside auditor employed by Council and it shall not be a resident or owner of a unit at “Villa Belmont”.  The cost shall be a common expense.

(6)  Obtain and pay the premium for Property Insurance.

(7)  Contract for repairs after any damage by fire or other casualty and pay the cost of all services rendered.

(8)  Hold the power to purchase, hold, sell, convey, mortgage or lease any one or more units in the name of the Council.

(9)  Notify a first mortgagee of any unit of any default by the owner of such unit whenever requested in writing by such mortgagee.

(10)   Do such other things and acts not inconsistent with the Unit Property Act or with the declarations which it may be authorized to do by a resolution of the Association of owners.

(11)  One Council Member may be given the authority to act on behalf of the Council on all matters relating to the duties of Council or the Managing Agent which may arise between meetings of Council if so delegated by Council.

MANAGING AGENT

Council may employ a Managing Agent at a compensation established by the Council to perform all or certain duties and services as the Council may authorize and may delegate to the Managing Agent all the powers granted to the Council by the Code of Regulations, provided that any actions by the Managing Agent with respect to the powers set forth shall require written consent of the Council in order to be binding upon unit owners.

TERM OF OFFICE

Council members serve a term of two (2) years and shall hold office until their respective successors shall have been elected by the Association of owners.

ORGANIZATION MEETING

The first meeting of the members of the Council following the annual meeting of the Condominium Association of owners shall be held within ten (10) days thereafter at such time and place as shall be fixed by the Condominium Association of owners at the meeting at which such Council shall have been elected, and no notice shall be necessary to the newly elected members of the Council in order to legally constitute such meeting, providing a majority of the whole Council shall be present.

REGULAR MEETINGS

Regular meeting of the Council may be held at such time and place as shall be determined from time to time by a majority of the members, (but at least four such meetings shall be held during each fiscal year).

All meetings of unit owners or meetings of any Council shall be open to all other unit owners governed by the same Council; provided, however, that where a portion of any meeting of unit owners or any Council is reserved for consultations with legal council, or for personnel matters relating to employees of the Council, such portion of the meeting shall be excluded.

The Council shall maintain written minutes of all meetings of unit owners or the Council.  The minutes shall be made available to all unit owners.

No meeting of unit owners or meetings of any Council may be held unless notice of the meeting, with the agenda for the meeting, has been either:  Posted conspicuously in each building in an area open to all unit owners at least seven (7) days prior to the meeting; or Sent to the mailing address provided to the Council by the owner and mailed at least fourteen (14) days prior to date of the meeting.

SPECIAL MEETINGS

Special meetings of the Council may be called by the President on three (3) business days notice to each member, given by mail, which shall state the time, place and purpose of the meeting. Special meetings of the Council shall be called by the President or Secretary in like manner and on like notice on the written request of at least two (2) members.

QUORUM OF COUNCIL 

At all meetings of the Council, a majority of the members shall constitute a quorum for the transaction of business,  – 3 – and the votes of a majority of members present at a meeting at which a quorum is present shall constitute the decision of the Council.

COMPENSATION

No member of Council shall receive any compensation from the Condominium Association for acting as such.

 

OFFICERS OF THE CONDOMINIUM – ALL ELECTED BY COUNCIL

PRESIDENT

VICE PRESIDENT

SECRETARY

TREASURER

MEMBER AT LARGE

President is member of Council, others may be but not required to be.

COUNCIL COMMITTEES

The Council may, from time to time, establish such one or more  AD HOC  Committees as it may deem necessary or appropriate for the administration of the affairs of the Council or of the Condominium Association. Each such committee shall have the discretionary, decision making or advisory powers with which the Council may vest it, provided, however, that the Council shall retain full responsibility for all acts undertaken by any committee within the authority granted to it. The members of any such committee shall be appointed from the members of Council or from those persons entitled to vote at any meeting of unit owners, or any combination thereof.

ELECTION OF OFFICERS

The officers of the Condominium Association shall be elected annually by the Council at the organization meeting of each new Council and shall hold office at the pleasure of the Council. Any vacancy in an office shall be filled by the Council at a regular meeting or special meeting called for such purpose.

REMOVAL OF OFFICERS

Upon the affirmative vote of a majority of the members of the Council, any officer may be removed, either with or without cause, and his successor may be elected at any regular meeting of the Council, or at any special meeting of the Council called for such purpose.

VACANCIES

Any vacancy in any office by reason of death, resignation, removal or otherwise, shall be promptly filled by a majority vote of the Council, and the successor officer shall serve the balance of the term so filled.

PRESIDENT

The President shall be the Chief Executive of the Condominium Association. He shall preside at all meetings of the Association of owners and of the Council. He shall have all of the general powers and duties which are incident to the office of President of a stock corporation organized under the General Corporation Law of the State of Delaware, including, but not limited to, the power to appoint committees from among the owners from time to time as he may in his discretion decide is appropriate to assist in the conduct of the affairs of the Condominium Association.

VICE PRESIDENT

The Vice President shall take the place of the President and perform his duties whenever the President shall be absent or unable to act. If neither the President nor the Vice President is able to act, the Council shall appoint some other member of the Council to act in the place of the President, on an interim basis. The Vice President shall also perform such other duties as shall from time to time be imposed upon him by the Council or by the President.

SECRETARY

 The Secretary shall keep the minutes of all meetings of the Association of owners and of the Council, he shall have charge of such books and papers as the Council may direct; and he shall, in general, perform all the duties incident to the office of Secretary of a stock corporation under the General Corporation Law of the State of Delaware.

TREASURER

The Treasurer shall have the responsibility for Condominium Associations funds and securities and shall be responsible for keeping full and accurate financial records and books of account showing all receipts and disbursements, and for the preparation of all required financial data; he shall be responsible for the deposit of all monies and other valuable effects in the name of the Council, or the Managing Agent, in such depositories as may from time to time be designated by the Council, and he shall, in general, perform all the duties incident to the office of Treasurer of stock corporation organized under the General Corporation Law of the State of Delaware.