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HomeMy WebLinkAboutA009 - Bylaws of Copper Cove Homeowners Association dated April 25, 2000 INST.NO. V y - _e STORY COUNTY, IOWA a 5 FILED FOR RECORD Akf JUL 05 2000 PM SUSAN L.VANDE KAMP,Recorder ski FEE RETU R N �,O: pi00RQIINCi FEES Instrument Prepared by: Frank B.Johnston,Box 847,Ames,IA 50010-0847;515-232-1761 BY-LAWS OF COPPER COVE HOMEOWNERS ASSOCIATION April 25,2000 ARTICLE I. DEFINITIONS Section 1."ASSOCIATION"shall mean Copper Cove Homeowners Association,a non-profit corporation organized pursuant to Chapter 504A, The Code of Iowa, as amended. Section 2. "THE PROPERTIES" shall mean First Addition, Copper Cove Subdivision,Story County,Iowa;Second Addition,Copper Cove Subdivision,Story County,Iowa; and Lots Seven(7)Eight(8)and Nine(9)of the Plat of Survey of the Auditor's Plat of the Southeast Quarter(SE 1/4)of the Southwest Quarter(SW 1/4)of Section Twenty-three(23),Township Eighty- four (84) North, Range Twenty-four (24) West of the 5`h P.M., Story County, Iowa, said plat of Survey having been filed in the office of the Recorder of Story County, Iowa, on March 22, 2000, as Instrument No. 00-02936, Slide 61 at Page 5. Section 3. "COMMON PROPERTIES"shall mean both those properties owned by the Association and those maintained by the Association all for the common benefit and enjoyment of the members of the Association. ARTICLE II. PURPOSE The purpose of the Association is to promote the health, safety and welfare of members within the properties. ARTICLE III. OFFICES Section 1. The principal office of the Association shall be located in Story County, Iowa, at the home of the Secretary of the Association. ARTICLE IV MEMBERS Section 1. Each person or entity who is a record owner of the fee simple title to any Lot within the properties, including contract vendees in possession, shall be members of the Association. Those persons or entities having interest merely as security for the performance of an obligation or indebtedness shall not be a member. Section 2. When more than one person or entity holds an interest in any Lot,all such persons or entities shall be members and the vote for such Lot shall be exercised as they among themselves determine,but in no event, shall there be more than one such vote cast with respect to any single Lot. Membership shall be appurtenant to and may not be separated from ownership of any Lot. Section 3. The rights of membership are subj ect to the payment of assessments levied by the Association. ARTICLE V VOTING RIGHTS Section 1. The corporation shall have two classes of voting membership: Class A: Class A members shall all be owners within the subdivision, excepting, however, Rich Lepper Construction, Inc. ("Declarant"), and shall be entitled to one vote for each Lot owned. When more than one person or entity holds an interest in any Lot,all such persons or entities shall be members and the vote for such Lot shall be exercised as they shall among themselves determine,but in no event shall more than one vote be cast with respect to any such Lot. Class B: Class B members shall be the Declarant and shall be entitled to three votes for each such Lot owned by the Declarant. The Class B membership shall cease and be converted to Class A membership upon the happening of either of the following events,whichever first occurs: 1. When the total votes outstanding in the Class A membership equals or exceeds the total votes outstanding in the Class B membership, or 2. On January 1, 2004. From and after the happening of either of these events, whichever first occurs, the Class B member shall be deemed to be a Class A member entitled to one vote for each Lot of which it is the owner. 2 00 - 07434 ( Z) Section 2. At membership meetings, all votes shall be cast in person, or by proxy registered with the Secretary of the Association. The Board of Directors is authorized to establish regulations providing for voting by mail. ARTICLE VI. MEETINGS OF MEMBERS Section 1. The regular annual meeting of the members shall be held on the second Tuesday in the month of January in each year at 7:00 p.m. If the day fixed for the annual meeting shall be a legal holiday, such meeting shall be held on the next succeeding business day. Section 2. Special meetings of the members for any purpose shall be called at any time by the President,Vice-President,Secretary or Treasurer,or by any two or more members of the Board of Directors, or upon the written request of four members. Section 3. The Board of Directors shall designate the place of meeting for the annual meeting or for any special meeting that may be called. Section 4. Notice of the annual meeting and of any special meeting shall be given to the members by the Secretary. Notice may be made either personally,or by sending a copy of the notice through the mail, postage prepaid,to the members address appearing on the records of the Association. Each member shall register his or her address with the Secretary and notices of such meeting shall be mailed to such addresses. Notice of any meeting shall mailed or completed not less than six days in advance of the meeting and shall set forth in general the nature of the business to be transacted. Section 5. A majority of the outstanding votes of the Association entitled to be voted, represented in person or by proxy, shall constitute a quorum at a meeting of members. Section 6. Any action required to be taken at a meeting of the members,or any action which may be taken at a meeting of the members, may be taken without a meeting if a consent in writing,setting forth the action so taken,shall be signed by all members entitled to vote with respect to the subject matter thereof. ARTICLE VU. BOARD OF DIRECTORS Section 1. The business and affairs of the Association shall be managed by its Board of Directors. The Board of Directors may authorize any officer or officers,agent or agents,to enter into any contract or to execute and deliver any instrument in the name of and on behalf of the. Association, and such authority may be general or confined to specific instances. Section 2. The initial number of Directors of the Association shall be two. Each Director shall hold office until his or her successor has been elected and qualified. 3 000U7434 (3) Section 3. A regular meeting of the Board of Directors shall be held without other notice than this Bylaw, immediately after, and at the same place, as the annual meeting of the members. The Board of Directors may provide,by resolution,the time and place for the holding of additional regular meetings without other notice than such resolution. Section 4. Special meetings of the Board of Directors may be called by or at the request of the President or any Director. Section 5. Notice of any special meeting of the Board of Directors shall be given at least two days previously thereto,by written notice,delivered personally or mailed to each Director at his or her business address. If mailed,such notice shall be deemed to be delivered when deposited in the United States mail so addressed,with postage thereon prepaid. If notice is given by facsimile, such notice shall be deemed to be delivered when the facsimile message is sent. Any Director may waive notice of any meeting. The attendance of a Director at a meeting shall constitute a waiver of notice of such meeting, except where a Director attends a meeting for the express purpose of objecting to the transaction of any business because the meeting is not lawfully called or convened. Section 6. A majority of the number of Directors constitute a quorum for the transaction of business at any meeting of the Board of Directors. The act of the majority of the Directors present at a meeting at which a quorum is present shall be the act of the Board of Directors. Section 7. Any vacancy occurring in the Board of Directors may be filled by the affirmative vote of a majority of the remaining Directors though less than a quorum. A Director elected to fill a vacancy shall be elected for the unexpired term of his or her predecessor in office. Any directorship to be filled by reason of an increase in the number of Directors shall be filled by election at An annual meeting or at a special meeting of members called for that purpose. Section 8. A Director who is present at a meeting of the Board of Directors at which action on any Association matter is taken shall be presumed to have assented to the action taken unless his or her dissent shall be entered in the minutes of the meeting or unless he or she shall file his or her written dissent to such action with the person acting as the Secretary of the meeting before the adjournment thereof. Section 9. Any action required to be taken at a meeting of the Directors,or any other action which may be taken at a meeting of the Directors,may be taken without a formal meeting if a consent in writing,setting forth the action so taken,shall be signed by all of the Directors entitled to vote with respect to the subject matter thereof. ARTICLE VIII. OFFICERS Section 1. The officers of the Association shall be a President, one or more Vice- Presidents (the number thereof to be determined by the Board of Directors), a Secretary and a Treasurer, each of whom shall be elected by the Board of Directors. Such other officers, assistant 4 00 - 07434 ��� officers and acting officers,as may be deemed necessary,may be elected or appointed by the Board of Directors. Any two or more offices may be held by the same person. Section 2. The officers of the Association shall be elected annually by the Board of Directors at the first meeting of the Board of Directors held after each annual meeting of the members. If the election of officers shall not be held at such meeting,such election shall be held as soon thereafter as conveniently may be. Each officer shall hold office until his or her successor shall have been duly elected and shall have qualified or until his or her death or until he or she shall resign or shall have been removed in the manner hereinafter provided. Section 3. Any officer or agent elected or appointed by the Board of Directors may be removed by the Board of Directors whenever in its judgment the best interests of the Association would be served thereby. Section 4. Any vacancy in any office because of a death, resignation, removal, disqualification or otherwise, may be filled by the Board of Directors for the unexpired portion of the term. Section 5. The President shall be the principal executive officer of the Association and,subject to the control of the Board of Directors,shall in general supervise and control all of the business and affairs of the Association. He shall, when present, preside at all meetings of the members and of the Board of Directors. He shall in general perform all duties incident to the office of President. Section 6. In the absence of the President,or in the event of his or her death,inability or refusal to act,the Vice-President shall have all the powers of and be subject to all the restrictions upon the President; and, in addition thereto, shall perform such other duties as may be assigned to him or her by the President or by the Board of Directors. Section 7. The Secretary shall: (a) keep the minutes of the members' and of the Board of Directors'meetings in one or more books provided for that purpose;(b)see that all notices are duly given in accordance with the provisions of these By-Laws or as required by law; (c) be custodian of the corporate records;(d)keep a register of the post office address of each member;(e) in general perform all duties incident to the office of Secretary and such other duties as may from time to time be assigned to him or her by the President or by the Board of Directors. Section 8. If required by the Board of Directors,the Treasurer shall give a bond for the faithful discharge of his or her duties,in such sum and with such surety or sureties as the Board of Directors shall determine. The Treasurer shall: (a)have charge and custody of and be responsible for all funds of the Association; receive and give receipts for monies due and payable to the Association from any source whatsoever,and deposit all such monies in the name of the Association in such banks or other depositories as may be selected by the Association;and(b)in general perform, all of the duties incident to the office of Treasurer and such other duties as may from time to time be assigned to him or her by the President or by the Board of Directors. 5 00 - U7434 �5� Section 9. The Board of Directors shall have the power to appoint any person to act as assistant to any officer, or to perform the duties of such officer whenever for any reason it is impracticable for such officer to act personally. Such assistant or acting officer so appointed by the Board of Directors shall have the power to perform all the duties of the office to which he or she is so appointed to act, except as such power may be otherwise defined or restricted by the Board of Directors. ARTICLE IX. RECORDS Section 1. The books, records and documents of the Association shall at all times, during reasonable business hours, be available to the inspection of any members. ARTICLE X. FEES, DUES AND ASSESSMENTS Section 1. Record ownership of a Lot within the properties shall establish the owner as a member of the Association. Section 2. The annual dues shall be the same for each Lot and shall be$1,080.00 per year,subject to such modification as a majority of the Directors may require,provided,however,that no increase exceeding $100.00 per year may be determined without three-fourths (3/4) of the members approving such increase. Section 3. Annual dues shall be payable in 12 equal monthly installments, the first of such installments to be paid on the first day of the month immediately following which a member becomes a member of the Association and all subsequent installments to be paid on the first day of each month thereafter during the period of such assessment, annual dues,however, shall not begin to accrue or be due prior to January 1, 2001. Section 4. Special assessments maybe levied on all members of the Association only by vote of three-fourths (3/4) of the majority of all members of the Association. Section 5. When any member shall be in default of any payment dues or assessments for the period of 45 days from the date upon which such dues or assessments become payable, he or she shall,for the purposes of voting,not be considered a member in good standing. Such member shall not be reinstated until he or she has paid dues and assessments in full and shall have no rights of any kind arising out of membership in the Association so long as there is a delinquency in the payment of such dues and assessments. Section 6. In addition to the foregoing, if any member fails to pay his or her assessments as they become due, on the failure of the payment of such assessments after 30 days 6 00 - 07434 � ,�� written notice of such delinquency given by the Association to such member, the amount of such assessment shall become a lien upon such members Lot in favor of the Association and the Association shall have the right to record a Notice of Claim of Lien and proceed on such claim for the foreclosure and enforcement of the lien or in the event that the Association shall not record a lien, it shall have the right to commence an in personam action against such member for the collection of the assessments in any court of competent jurisdiction. Section 7. Both annual and special assessments must be fixed at a uniform rate for all Lots. Section 8. If any Lot subject to a lien created by any provision in this instrument shall be subject to the lien of first mortgage: (a) a foreclosure of any lien created by anything set forth in this instrument shall not operate to effect or impair the lien of such mortgage, and (b) a foreclosure of the lien of such mortgage or the acceptance of a deed in lieu of foreclosure by the mortgagee shall not operate to effect or impair the lien,except that the assessments liens,if any,shall have become due up to the expiration of the applicable redemption period and the issuance of a sheriff's deed resulting from a decree of foreclosure or the appointment of a receiver in foreclosure proceedings or the acceptance of a deed in'lieu of foreclosure shall be subordinate to the lien of the mortgage,with the foreclosure-purchaser and purchasers therefrom taking title free of assessments, if any,that have arisen up to the expiration of the applicable redemption period and the issuance of a sheriff s deed resulting from a decree of foreclosure or the appointment of a receiver in foreclosure proceedings or a deed given in lieu of foreclosure,but subject to assessment liens that have become due subsequent to the expiration of the applicable redemption period and the issuance of a sheriff s deed or the appointment of a receiver or upon the acceptance of a deed in lieu of foreclosure. All assessment liens that have arisen up to the expiration of the applicable redemption period an issuance of a sheriff;s deed or the appointment of a receiver or the acceptance of a deed in lieu of foreclosure and have not been paid shall be deemed to be an expense of the Association,but this shall not impair or affect.the Association's right to collect said sums from the defaulting owner personally. ARTICLE XI. FISCAL YEAR The fiscal year of the Association shall begin on the 1 st day of January and end on the 31 st day of December in each year. ARTICLE XII. AMENDMENTS Section 1. These By-Laws may be amended, at a regular or special meeting of the members by a majority of a quorum of each Class of members present in person or by proxy, provided that those provisions of these By-Laws which are governed by the Articles of Incorporation of this Association may not be amended except as provided in the Articles of Incorporation or 7 © 0 - 07434 l�) applicable law and,provided further,that any matter stated herein to be or which is in fact governed by the Covenants and Restrictions applicable to the properties may not be amended except as provided in such Covenants and Restrictions. Section 2. In the event of any conflict between the Articles of Incorporation and these By-Laws, the Articles shall control, and, in the event of any conflict between the Covenants and Restrictions applicable to the properties and these By-Laws,the Covenants and Restrictions shall control. We,the undersigned,constituting all of the Directors of Copper Cove Homeowners Association have adopted these By-Laws on this `v��� '. day of rn , , 2000. By 'chard A. Lepper By ar akay . Le per STATE OF IOWA ) )ss STORY COUNTY ) On this day of May,2000,before me,the undersigned,a Notary Public in and for the State of Iowa,personally appeared Richard A.Lepper and Marlakay J.Lepper,husband and wife, to me known to be the persons named in and who executed the foregoing instrument, and acknowledged that they executed the same as their voluntary act and deed. _ Notary Public in and for th State of Iowa r F,I C. \�V•VOIV�I�rl1�J}NIY•l..\If'�(1L7 (Printed Signature of Notary Public) 8 00 - 07434 cg)