The mission of Pine Terrace Homeowner's Association, a Colorado Nonprofit Corporation, is to enable all residents and owners to realize a congenial, safe, healthy, and active life style through an Association that provides for the welfare of its members by offering an environment designed to accomplish various purposes including:
1. Preservation of property values and improvements through preservation and enhancement of the attractiveness and desirability of the community.
2. Providing an exclusive residential living environment that also preserves the natural wildlife and habitat of the area.
3. Assuring that improvements, changes or additions in the neighborhood are compatible with other improvements; that common architectural themes and styles are maintained; and that no visual, noise, odorous pollution, or conditions shall persist.
In fulfillment of this Mission Statement, the Board of Directors, representing the various homeowners in Pine Terrace, have been empowered to formulate and adopt, as well as amend and change, various "Rules" designed to assure that residents and owners fully understand the necessity to maintain an living environment that respects the needs and rights of others living within the community. These Rules are designed to be dynamic and Owners are asked to submit
their ideas for changes, in writing, to the Property Manager or Board of Directors at any time.
The Board of Directors have been charged with the responsibility of reviewing the Rules and proposed changes not less than once per year.
1. Character of Occupancy. The Pine Terrace Homeowner's Association has determined to permit only single-family residential occupancy of each residence within the community. All lots shall be exclusively used for private residential homes and shall not be used for business, professional, or other activities. No lots or homes may be subdivided or partitioned. No tents, tree houses, barns, camping quarters, trailers or other temporary structures shall be placed or erected upon any lot. Each lot, improvements thereon, and the adjacent parking area shall be maintained in a neat and attractive manner.
2. Restrictions on Occupancy. No individual, corporation, partnership, estate, foundation, limited liability company, or other type of entity may occupy any property within Pine Terrace for the purpose of conducting business.
3. No Business Use. No resident may operate any business from within their property that would entail regular and repeating visitation by customers, clients, suppliers, other business invitees, or delivery/pickup services.
4. Door-to-door Solicitation. Door-to-door solicitation of residents shall be strictly prohibited and violations of this rule should be reported, immediately, to the Property Manager.
5. Home Based Business Use. It is not the intention of Rules 1, 2, or 3 to restrict owners and tenants from operating home based businesses but to make it clear that the character of the community is residential and not business and to reinforce the notion that any home based business use must not interfere with the residential character of the community.
6. Sales. Pursuant to Rule 1, it is the intent of the members of the Homeowner's Association to permit only single-family occupancy of residential improvements. As such, no individual, corporation, partnership, estate, foundation, limited liability company, or other type of entity may acquire any property within the community unless the property shall be used exclusively for single family residential purposes nor should any owner sell any property within the community to any individual, corporation, partnership, estate, foundation, limited liability company, or other type of entity where the seller has reasonable knowledge that the anticipated usage would be anything other than residential. Moving van trailers are not allowed in the premises.
7. Tenants. Owners shall have the right to rent their property to tenants without the prior approval of the Board of Directors. However, owners shall be limited to renting their property to tenants who have agreed to occupy the subject property exclusively as a single-family residential dwelling. Owners shall not rent their property to anyone where the normal sleeping capacity of the property would be exceeded. Normal sleeping capacity is defined as a maximum of two people per bedroom, with a bedroom defined as a room originally designed exclusively for sleeping and containing one or more clothes closets. No transient occupancy shall be permitted except for visiting guests. Further, transient occupancy by invited guests shall be limited to not more than three (3) consecutive weeks nor more than an aggregate of six (6) weeks in any calendar year. Owners shall not be permitted to rent their property on a nightly, weekly, or monthly basis. All leases and rental agreements shall be in writing. All leases or rental agreements shall provide that
the terms of the lease or rental agreement and the tenant's occupancy of the unit shall be subject in all respects to the rules, bylaws, and declarations, as the same may be amended from time to time, and that any failure by such tenant to comply with the provision of such instruments, in any respect, shall be a default under the lease or rental agreement, and said default will be enforceable by the Board of Directors, the Owner/Landlord or both. No lease or rental agreement shall be for a term of less than 90-days. Any Owner's right to lease or rent is expressly conditioned upon applicable Rules. Sub-renting or subleasing is not permitted. Any Owner who leases or rents a unit shall forward a copy of the lease to the Association within ten (10) days after the execution by the Owner and the tenant/renter/lessee.
8. Parking. The Board of Directors recognizes that parking is a significant issue to all owners and tenants. As a result, this Rule has been adopted to assure that parking issues are clearly understood. The term "vehicle" as used herein may be an automobile, motorcycle, SUV, pickup (maximum of ¾ ton - no dual wheels) or van if used solely for personal transportation. Other trucks, boats, boat trailers, luggage trailers, motor homes and travel trailers are not permitted within the community. Every vehicle owned, registered to, leased by, or controlled by any owner or tenant or guest or relative of any owner or tenant, must be garaged. No overnight parking, regardless of ownership, will be permitted in the driveways or on the private streets of the property except for a houseguest's car, not to exceed three (3) consecutive nights, or (4) nights in any one calendar month. The Board of Directors will consider it a violation of this parking rule if multiple cars with identical ownership, or related ownership, are consistently parked on the streets or driveways. Homeowners or tenants requiring more than seventy-two (72) hours parking for houseguests may apply to the Property Manager for permission for extension of parking time and the Board of Directors hereby authorize the Property Manager to make decisions on behalf of the Board of Directors. Decisions of the Property Manager shall be final. Owners and tenants may, from time to time, host social functions that necessitate the parking of vehicles on the street near the host's residence. Owners and tenants are asked to make every effort to ask visitors to carpool or otherwise limit the number of vehicles that would be required to park on the street and/or to limit the time-frame of the social gathering to not more than six (6) hours so that street parking is limited in time duration. Domestic workers (e.g. maids or handymen) may park in the driveway for up to eight (8) hours so long as such parking shall not commence before 8 am and shall end not later than 6 PM. Exceptions are made to this rule for domestic help during social functions.
9. Parking Outside entry Gates. The entrances into the community, known to owners and tenants as the "lower" or "main" gate and the "upper" gate are for exclusive entrance and exit to the community. No parking shall be permitted outside or immediately inside any gate so as to impede, even slightly, the access of residents into the community or around the gate areas. The Property Manager shall be responsible for (a) advising maintenance workers and others regarding this rule and (b) for enforcement of this rule.
10. Speed Limits Within the Community. The community has adopted a speed limit of not more than fifteen (15) MPH, unless differently posted. This speed limit must be observed by all conveyances.
11. Construction traffic. Construction traffic shall only use the upper gate during daylight hours unless otherwise instructed by the Property Manager. No construction vehicles shall be overweight, dangerously loaded, or operated/parked in any manner to endanger or annoy any of the residents. Any damage caused by construction traffic, including excessive road wear, shall be the joint and several responsibility of the driver, the vehicle owner, and the employing contractor. Performing construction activities at Pine Terrace and driving on its private road system shall be deemed as consent to this Rule.
12. Junk Vehicles and Vehicle Repair. A) Junk Vehicles…no stripped down, partially wrecked or
junk motor vehicle, or sizable part thereof, shall be parked on any street within the community. Such vehicles may be parked on a lot but cannot be visible at ground level from any neighboring property or street. B) Repairs…no maintenance, greasing, service, repair, dismantling, or painting of any vehicle shall occur in the streets or private driveways of the community.
13. Garage Doors. Garage doors shall be kept closed at all times, except when they are being used for entry or exit from the garage or when the owner or tenant is in the process of cleaning or organizing the garage. It is the intention of this Rule that garage doors shall be closed rather than open, except when it is necessary for the tenant or owner to perform entrance or exit and cleaning functions.
14. Noxious Activities. No noxious, loud or offensive activities shall be carried on from within or outside any residence. Nothing shall be done from within or outside any residence that would cause embarrassment, discomfort, annoyance, or nuisance to the neighborhood. No annoying lights or odors shall emanate from any residence. Flammable materials may not be stored in any significant quantity in any building or improvements, including gasoline, kerosene, propane, etc. Minimal quantities of such materials, limited to not more than one (1) two (2) gallon container designed specifically for such flammable materials and one (1) spare propane tank, shall be permitted to be stored but only within the garage area of the property.
15. Animals. Each dwelling, regardless of the form of ownership or occupancy, shall be limited to an aggregate of two (2) domesticated dogs or two (2) domesticated cats. Such domesticated dogs or cats shall be limited in weight to not more than 40-pounds each. In addition to an aggregate of two (2) domesticated dogs or two (2) domesticated cats each dwelling shall be permitted to keep up to four (4) domesticated birds and fish-tank fish. Fish tanks shall be limited to not more than two (2) tanks or not to exceed more than a total of two hundred fifty (250) gallons capacity of salt or fresh water. Domesticated birds shall be maintained inside the residence. No other animals except as noted (dogs, cats, birds, and fish-tank fish) shall be permitted without first obtaining written approval from the Property Manager. The Board of Directors herewith delegates full authority to the Property Manager to approve or deny such requests. Any decision of the Property Manager shall be final. No animals shall be kept, bread, or maintained within any residence for any commercial purposes. All animals must be kept on a leash or under direct owner control when outside of the residence. No animals owned or controlled by any owner or tenant shall be permitted to run loose. If there are repeated violations of this Rule by any owner or tenant, then the Property manager is hereby authorized, on behalf of the Board of Directors, to capture and restrain such animal and enjoin the owner or tenant from keeping said animal within the community. All owners or tenants walking pets on a leash outside of the residence are responsible for the immediate removal of any pet excrement that is deposited on the streets, driveways, common areas, or property of another owner and shall carry appropriate supplies with them that will allow them to immediate remove such excrement. Guests of owners and tenants can bring domesticated pets, limited to two (2) domesticated dogs or two (2) domesticated cats only, into the community for temporary visits (not more than 12 hours) and owners and tenants are responsible for instructing guests regarding the animal rules and assuring that the guests comply with such rules. Owner cannot install above ground fences nor below ground "invisible" fences, for pets.
16. Excessive Pet Noise. Owners and tenants residing in the community understand that pets, particularly domesticated dogs, will, from time to time, bark and make other noises that could be an irritant to other residents. It shall be the responsibility of all owners or tenants with such pets, or visiting guests with such pets, to make every effort to control pet noise. More particularly, barking after the hour of 11 PM or before the hour of 6 am will be considered inappropriate. The Property Manager shall contact any resident with pets where a written complaint has been filed and remind the resident of this Rule. If there are repeated violations of this Rule by pets under the control of any owner or tenant, then the Property manager is hereby authorized, on behalf of the Board of Directors, to capture and restrain such animal and enjoin the owner or tenant from keeping said
animal within the community.
17. Antennas. No aerials, antennas, satellite dishes or other devices for reception or transmission of radio, television, or other electronic signals shall be allow on the roof of any building. Owners and tenants may install, or have professionally installed, such electronic signal capture equipment if the Property Manager approves both the actual equipment and proposed location in advance of installation. Satellite dishes must be less than one meter in diameter and must be located where a clear signal can be obtained without further movement and where the visibility from neighboring property or adjacent streets is minimal. Approval of the location of such electronic signal capture equipment is in the sole discretion of the Property Manager. Further, the Property Manager shall see that any such equipment is painted an appropriate color so as to make the equipment as inconspicuous as possible and any expense associated with such painting shall be the responsibility of the Owner or Tenant. The corporation accepts no responsibility with regard to privately owned satellite or other electronic signal receiving devises.
18. Architectural Control. The Board of Directors must approve all major proposed exterior changes in a building or major proposed changes to any undeveloped lot after such proposed changes are first reviewed and recommended by the Property Manager. The request for approval of such matters shall be of sufficient detail, in the exclusive opinion of the Board of Directors, as to provide the detail necessary to make a considered determination. The objective is to control the exterior appearance of any proposed change and such approval shall not be unreasonably denied.
19. Signs. The only signs permitted on any lot or structure shall be a) one sign of customary size for offering of the signed property for sale or for rent; b) one sign of customary size for identification of the address of any residence; c) such signs as may be necessary to advise of information, in the sole opinion of the Board of Directors, of importance to owners and tenants, rules and regulations, or to caution or warn of danger; and d) such signs as may be required by law. No signs other than those mentioned above shall be permitted. No banners, streamers, flags, lights, sound emitting devices, or other devices calculated to attract attention or aid in the sale or rental of any property or lot within the community shall be permitted. The Property Manager must approve signs, in advance of installation, and the decision of the Property Manager shall be final. Real estate signs must be gold lettering on black background not to exceed 26 inches wide, 32 inches high.
20. Trash. No trash, rubbish, garbage, or materials for disposal, including, but not limited to, grass clippings, scrap material, shrub clippings, or receptacles therefore, shall be displayed, stored or deposited in such a manner as to be visible, except on days during which the refuse is being collected.
21. Unsightly Conditions. Each owner and tenant shall be responsible for preventing the development of any unclean or unsightly conditions on or near their respective grounds and improvements.
22. Weeds and Diseased Trees. All yards and open spaces and the entire area of every lot on which no building has been constructed, shall be kept free from plants or weeds which, in the opinion of the Property Manager, would likely cause the spread of infection or weeds to neighboring property. Further, all property shall be free from brush or other growth or trash which, in the opinion of the Property Manager, could cause undue danger of fire. No exterior planting of trees or plants to common areas shall be permitted without the approval of the Property Manager. No trees shall be removed from with the community without the approval of the Property Manager. Trees infected with diseases shall be removed at the direction of the Property Manager. Owners may be charged for such removal where, in the sole opinion of the Board of Directors, such charge shall be appropriate.
23. Watering. Local government authorities may regulate watering of lawns and shrubs and other water usage by owners and tenants and any special restrictions so imposed must be complied with.
24. Patios. No washers, dryers, refrigerators, freezers, kitchen stoves, or hot tubs may be place on either any upper or lower patio without the express approval of a variance granted by the Board of Directors. All requests for variances should first be reviewed and recommended by the Property Manager. Should such a variance on any item or items be approved and then the owner or tenant must comply with any requirements imposed by either the Property Manager or Board of Directors that relates to any approved variance. Patios are not for storage: The Property Manager or the Board of Directors may direct any owner or tenant to remove any item located on an exterior patio if, in the sole opinion of the Property Manager, such item is unsightly.
25. Noise. No boisterous parties, loud talking, singing or noise, especially after 11 PM and before 8 am shall be permitted. Radios, TV, stereo, home theater, and any playing of musical instruments must be kept subdued and played only within residences. Improvements, repairs, cleaning, general maintenance, or construction work is allowed only between the hours of 8 AM and 6 PM inside or outside. No exterior speakers, horns, or other sound or light emanating devices (except security devices) shall be permitted on the exterior of any structure. Owners and tenants shall be permitted to personally use, or hire workers to use, power tools designed to clean or prepare surfaces. However, such power tools cannot be used before 8 am or after 6 PM on any day of the week.
26. Complaints. The proper procedure for reporting any complaints or Rule violations is to contact the Property Manager and file a written complaint. The Property Manager shall then follow up regarding the complaint and if the Property Manager feels the complaint is justified, the Property Manager is empowered by the Board of Directors to issue a 'cease and desist' order to the Rule violator. If the Property Manager is unable to convince the rule violator that the offending practice should be ceased, then the Property Manager shall make a formal report to the Board of Directors.
27. Penalties. Penalties for rule violations shall be pursuant to the Policy and procedure known as "Schedule of Fines" as adopted and amended by the Board of Directors from time to time. Any owner or tenant who continues to violate any rule after notification by the Property Manager of such violation may be fined up to twenty-five dollars ($25) per day by the Homeowner's Association. Further, the Board of Directors may also assess a special assessment in an amount equal to any cost incurred by the Association in correcting or remedying any violation of these rules. Such fines and assessments shall constitute a lien upon the unit occupied by either the owner or a tenant and may be enforced as any other unpaid assessment is enforced. This power shall be in addition to, and not exclusive of, any remedies that are afforded the Homeowner's Association and its individual members at law or by the governing documents of Pine Terrace Homeowner's Association. In addition to the fines and penalties noted in this paragraph, the Board of Directors shall have the right to suspend the rights of an owner to use the common areas for up to 30-days.
28. Appeal. Any owner must request, in writing to the Property Manager, within ten (10) days of notice of a fine and/or suspension of privileges, a hearing at the next regularly scheduled meeting of the Board of Directors in order to appeal sanctions, fines, and suspensions imposed for violations. Unit owners may appear in person or by representative, including legal counsel. The written request shall specify the grounds for the appeal. Such a request shall not stay the enforcement procedures unless otherwise directed by the Board of Directors. At the hearing, the Board of Directors may confirm its decision, modify it, or vacate it.
29. Private Ownership. The Broadmoor golf course, tennis facilities, clubhouse, parking areas and Ski Broadmoor are the private property of the Broadmoor Hotel, Inc. its heirs, successors and assigns. Ownership in Pine Terrace does not imply permission to use any of these facilities and their use in any manner without the express permission of the Broadmoor Hotel, Inc. would constitute a trespass and is not permitted under any Rule of the Pine Terrace Homeowners
Association.
30. Committees. The Board of Directors shall have the right to appoint and establish any committee or committees who, in the sole opinion of the Board of Directors, are necessary or advisable to assist the Board of Directors, Owners, and Tenants in the operation of Pine Terrace Homeowners' Association. Membership on and service on such committee or multiple committees shall be at the pleasure of the Board of Directors and the Board of Directors can remove members of said committee(s) without notice. Activities of each such committee shall be pursuant to a written set of Rules and Responsibilities, which must be approved by the Board of Directors.
CERTIFICATION OF ADOPTION
The foregoing Regulations were duly adopted by the Board of Directors of Pine Terrace Homeowner's Association at a meeting where proper notice was given or waived, at which a quorum was present, and at which a majority of the Board voted in favor of adoption.
So certified this 17th day of January, 2006
PINE TERRACE HOMEOWNER'S ASSOCIATION, INC. A Colorado Nonprofit Corporation
By: /s/ Jerry Bills, Its Secretary
Certain Policy and Procedures, as required by SB100 were evaluated by the Board of Directors and approved and adopted by the Board of Directors of Pine Terrace Homeowner's Association at a meeting where proper notice was given or waived, at which a quorum was present, and at which a majority of the Board voted in favor of adoption.
Adoption and Amendment of Policies, Procedures and Rules
Adopted January 17, 2006 with an effective date of January 1, 2006
The Board of Directors of Pine Terrace Homeowners Association ("Association") pursuant to Colorado statutes for conduct of business has adopted the following policy and procedure:
1. Adoption or amendment of any policy, procedure or rule shall be performed only at a meeting of the Board of Directors.
2. The Board shall consider the following criteria when adopting or amending a policy, procedure or rule:
a. Reasonableness and necessity;
b. Impact does not create separate groups of Members/Owners;
c. Clear and unambiguous;
d. Reasonably relates to the preservation, protection and enhancement of property values, and
e. Consistent with (i) the Association's governing documents; (ii) applicable federal and state statues and case law; and (iii) local laws and ordinances.
3. Adoption or amendment of any policy, procedure, or rule and regulation requires an affirmative vote of the majority of members of the Board of Directors.
4. Any policy, procedure, or rule and regulations and any amendment shall be effective fifteen days after delivery of written notice to each Member/Owner (including posting to the Association's web cite or publication in the Association's newsletter, if any) of it adoption.
SECRETARY'S CERTIFICATION: The undersigned, being the Secretary of Pine Terrace Homeowners Association, a Colorado nonprofit corporation, certifies that the foregoing policy and procedure was adopted by the Board of Directors of the Association, at a duly called and held meeting of the Board on January 17, 2006 and in witness thereof, the undersigned has subscribed his name.
PINE TERRACE HOMEOWNERS ASSOCIATION, a Colorado nonprofit corporation
/s/ Jerry Bills, Secretary
Collection Policy and Procedure
Adopted January 17, 2006 with an effective date of January 1, 2006
The Board of Directors of Pine Terrace Homeowners Association ("Association") pursuant to Colorado statutes for collection policy and procedures has adopted the following policy and procedure:
1. Due Date. The Association's Annual Common Expense Assessment shall be due and payable, in full, on January 1 of each year. Provided, however, the Board shall permit payment to be made in twelve equal monthly installments due on the first day of each month, commencing January 1. Assessments or other charges not paid to the Association by the 15th day of each month shall be considered past due and delinquent.
2. Late Charge and Interest Imposed. Once a payment is past due and delinquent, a Late Charge equal to five percent (5.0%) of the unpaid assessment for that month to compensate the Association for the additional administrative costs in processing a delinquent payment. Further, interest shall accrue at eight percent (8.0%) per annum on all outstanding or past due balances.
3. Return Check Charges. In addition to any and all charges imposed under the Declaration, the Bylaws, the Rules and Regulations or the Articles of Incorporation (collectively, the "Governing Documents") or pursuant to Colorado statutes, or this Policy, a fifty dollar ($50.00) fee or other amount deemed appropriate by the Board shall be assessed against an owner in the event any check or other instrument attributable to or payable for the benefit of such owner is not honored by the bank or is returned by the bank for any reason whatsoever, including but not limited to insufficient funds. Such return check charge shall be due and payable immediately, upon demand. Notwithstanding this provision, the Association shall be entitled to all additional remedies as may be provided by applicable law. Returned check charges shall be the obligation of the owner(s) of the Unit for which payment was tendered to the Association. Returned check charges shall become effective on any instrument tendered to the Association for payment of sums due under the Governing Documents or this Policy.
4. Attorney Fees on Delinquent Accounts. As an additional expense permitted (collectible as a Common Expense Assessment) under the Declaration and Colorado statutes, the Association shall be entitled to recover its reasonable attorney fees and collection costs incurred in the collection of assessments or other charges due the Association from a delinquent owner. The reasonable attorney fees incurred by the Association shall be due and payable immediately when incurred, upon demand.
5. Application for Payments made to the Association. Regardless of inscriptions or notations on the front of the check, all payments received on the account of any owner shall be applied in the following order:
6. Acceleration of Installments. In the Board's sole discretion, and upon at least thirty (30) days written notice to the Owner, in the event at least two monthly installments are past due, the entire Annual Assessment may be accelerated so that all monthly installments for the remainder of the Assessment year are immediately due and payable.
7. Collection Procedures.
8. Referral of Delinquent Accounts to Attorneys. The Board may, but shall not be required to refer delinquent accounts to its attorneys for collection. Upon referral to the attorneys, the attorneys shall take all appropriate action to collect the accounts referred, including recording of a Notice of Assessment Lien against the Owner's Unit. After an account has been referred to an attorney, the account shall remain with the attorney until the account is settled, has a zero balance or is written off. All payment plans involving accounts referred to an attorney for collection shall be set up and monitored through the attorney.
9. Appointment of a Receiver. The Board may seek the appointment of a receiver if an owner becomes delinquent in the payment of any installment of Annual Assessments. A receiver is a disinterested person, appointed by the court who manages the rental of the property, collects the rent and disburses the rents according to the court's order. The purpose of a receivership for the Association is to obtain payment of current assessments, reduce past due assessments, and prevent the waste and deterioration of the Unit.
10. Judicial Foreclosure. The Board may choose to foreclose on the Association's lien in lieu of or in addition to suing an owner in county court for a money judgment. The purpose of foreclosing is to obtain payment of all assessments owing in situations where either a money judgment lawsuit has been or is likely to be unsuccessful in obtaining payment, or other circumstances favor such action.
11. Waivers. The Board may grant a waiver of any provision herein upon petition in writing by an owner showing a personal hardship. Such relief granted an owner should be appropriately documented in the files with the name of the person or persons representing the Board granting the relief and the conditions of the relief.
12. Ongoing Evaluation. Nothing in this policy shall require the Board to take specific actions at a specific time but the Board shall not take any action in less than the time stated herein for a particular action. The Board has the option and right to continue to evaluate each delinquency on a case-by-case basis.
SECRETARY'S CERTIFICATION: The undersigned, being the Secretary of Pine Terrace Homeowners Association, a Colorado nonprofit corporation, certifies that the foregoing policy and procedure was adopted by the Board of Directors of the Association, at a duly called and held meeting of the Board on January 17, 2006 and in witness thereof, the undersigned has subscribed his name.
PINE TERRACE HOMEOWNERS ASSOCIATION, a Colorado nonprofit corporation
/s/ Jerry Bills, Secretary
Conduct of Meetings
Adopted January 17, 2006 with an effective date of January 1, 2006
The Board of Directors of Pine Terrace Homeowners Association ("Association") pursuant to Colorado statutes for conduct of meetings has adopted the following policy and procedure:
MEMBERS/OWNERS MEETINGS
1. Meetings of the Members/Owners ("Members") shall be held at such times and locations as may be provided in the Association's Declaration, Bylaws, Articles of Incorporation or Rules and Regulations ("Governing Documents") or by applicable Colorado statutes, but at least once annually.
2. Only Members in good standing are eligible to vote. For purposes of this policy, "good standing," shall mean all of the following:
(i) ownership of a Unit;
(ii) no outstanding amounts due to the Association;
(iii) no outstanding violation of any provision of any Governing Document.
3. Notice of Members meetings shall be distributed as may be provided in the Association's Governing Documents or by applicable Colorado statutes.
4. The Association's Board shall determine the agendas for the meetings, subject to any requirements in the Association's Governing Documents, and distribute such agendas with notices of the meetings.
5. The President or such other person as may be designated by the Board, shall preside over all meetings.
6. Items of business and/or discussion must be presented by Motion and such Motion must be seconded prior to discussion.
7. Any person not in compliance with these rules of conduct, may be ejected from the meeting:
a. No one may speak until called upon by the chairperson to do so; and
b. Only one person may speak at a time; and
c. Personal attacks or abusive language will not be tolerated; and
d. Only the individual presiding over the meeting may interrupt a speaker and then only for purposes of limiting the time of the discussion or due to personal attacks or abusive language.
8. Voting by Members to fill positions on the Board shall be by secret ballot. Any other matter put before the assembly for a vote may be by any means acceptable to the assembly or by secret ballot if requested.
9. Unless otherwise provided by the Governing Documents or by applicable Colorado statutes, the affirmative vote required for the election of Members of the Board shall be the candidates receiving the largest number of votes. Unless otherwise provided by the Governing Documents or by applicable Colorado statutes, the affirmative vote required for the passage of any other matter put before the assembly for a vote shall be a majority of those present (as defined by the Rules and/or Bylaws) and voting at this meeting.
10. Written ballots may be used in lieu of any Member meeting.
BOARD MEETINGS
1. Meetings of the Board shall be held at such times and locations as may be provided in the Governing Documents or by applicable Colorado statutes.
2. Notice of Board Meetings shall be distributed as may be provided in the Governing Documents or by applicable Colorado statutes.
3. The President, Secretary, or any Director may create agendas for Board meetings, but are not required to do so. To the extent that an agenda is created for a Board meeting, it shall be provided to owners requesting a copy of it.
4. Notwithstanding paragraph 3 above, Board Meetings shall include a "Homeowners Forum" conducted as follows:
a. There will be a list at a sign in table for persons to enter their names if they wish to speak at this meeting;
b. Only those persons who have entered their names on the list of speakers shall speak;
c. Speakers will be called upon to speak in the same order in which they entered their names;
d. No one may speak until called upon by the chairperson to do so;
e. Only one person may speak at a time;
f. Each person shall have three (3) minutes to speak;
g. Personal attacks or abusive language will not be tolerated; and
h. Only the chairperson may interrupt a speaker and then only for purposes of limiting the time of the discussion or due to personal attacks or abusive language.
5. The President or such other person as may be designated by the Board, shall preside over all meetings.
6. For each matter upon which the Board anticipates taking action, a motion must be made stating the proposed action and such motion must be seconded prior to discussion. Owners who are not Board members may not participate in such discussion unless requested by a majority vote of the Board to do so.
7. At the conclusion of discussion, but prior to vote on any motion by the Board members, any owner may request to be heard on the matter discussed. Notwithstanding the previous statement, no more than one person in favor of the Motion and one person opposed to the Motion shall be heard.
8. Board meetings shall be open to attendance by all members of the association or their representatives. 9. The members of the Board may hold an executive session and restrict attendance to only Board members and such other persons requested by the Board during a regular or special meeting for discussion of the following:
a. Matters pertaining to employees of the Association or the Managing Agent's contract or involving the employment, promotion, discipline, or dismissal of an officer, agent, or employee of the Association;
b. Consultation with legal counsel concerning disputes that are the subject of pending or imminent court proceedings or matters that are privileged or confidential between attorney and client;
c. Investigative proceedings concerning possible or actual criminal misconduct;
d. Any matter the disclosure of which would constitute an unwarranted invasion of individual privacy; and
e. Review of or discussion relating to any written or oral communication from legal counsel.
10. Prior to holding an executive session, the President or other person designated to preside over the meeting, shall announce the general matter of discussion as stated above.
11. No Rule or Regulation shall be adopted during an executive session. A Rule or Regulation may be validly adopted only during a regular or special meeting or after the Board returns from its executive session.
12. The minutes of all meetings at which an executive session was held shall indicate that an executive session was held and the general subject matter of the executive session:
SECRETARY'S CERTIFICATION: The undersigned, being the Secretary of Pine Terrace Homeowners Association, a Colorado nonprofit corporation, certifies that the foregoing policy and procedure was adopted by the Board of Directors of the Association, at a duly called and held meeting of the Board on January 17, 2006 and in witness thereof, the undersigned has subscribed his name.
PINE TERRACE HOMEOWNERS ASSOCIATION, a Colorado nonprofit corporation
/s/ Jerry Bills, Secretary
Conflicts of Interest
Adopted January 17, 2006 with an effective date of January 1, 2006
The Board of Directors of Pine Terrace Homeowners Association ("Association") pursuant to Colorado statutes regarding conflicts of interest has adopted the following policy and procedure:
RECITALS
1. The Board wishes to avoid self-dealing, actual or apparent, in its administration of the Association.
2. The Board wishes to adopt requirements for members of the Board of Directors ("Board Members") in order to assure sound management of the Association.
Requirements Upon All Members of the Board of Directors
A. All Board Members shall exercise their power and duties in good faith and in the interest of, and with utmost loyalty to the Association and owners. All Board Members shall comply with all lawful provisions of the Association's Governing Documents.
B. Any duality of interest or possible conflict of interest on the part of any Board Member shall be disclosed to the other Board Members at the first meeting of the Board at which the interested Board Member is present after the conflict of interest is or should be discovered. Such disclosure shall be made a matter of record in the minutes of the Board meeting at which the disclosure of the conflict or possible conflict of interest is made.
C. The interested Board Member shall leave the meeting during any time when discussion of any topic related to the conflict or possible conflict of interest is conducted. The minutes of the meeting shall reflect that the interested Board Member did not participate in the discussion and left the meeting during the discussion.
D. Any Board Member having a duality of interest or possible conflict of interest on any matter shall not vote or use his or her personal influence on the matter. The minutes of the meeting shall reflect the abstention from voting and the reason for the abstention.
E. The foregoing requirements shall not be construed as preventing the interested Board Member from briefly stating his or her position in the matter nor from answering pertinent questions of other Board members since his or her knowledge may be of great assistance.
F. Any breach or suspected breach of this resolution by a Board Member shall be brought to the attention of the remaining Board members for appropriate action.
SECRETARY'S CERTIFICATION: The undersigned, being the Secretary of Pine Terrace Homeowners Association, a Colorado nonprofit corporation, certifies that the foregoing policy and procedure was adopted by the Board of Directors of the Association, at a duly called and held meeting of the Board on January 17, 2006 and in witness thereof, the undersigned has subscribed his name.
PINE TERRACE HOMEOWNERS ASSOCIATION, a Colorado nonprofit corporation
/s/ Jerry Bills, Secretary
Investment of Reserve Funds
Adopted January 17, 2006 with an effective date of January 1, 2006
The Board of Directors of Pine Terrace Homeowners Association ("Association") pursuant to Colorado statutes for investment of reserve funds has adopted the following policy and procedure:
PURPOSE
The purpose of this policy is to institute proper guidelines for the ongoing management of the Association's investment of its reserve funds.
INVESTMENT OBJECTIVES
The principal represents the reserve funds for maintenance, repair, and replacement of those items for which the Association is responsible and that must be periodically maintained, repaired, or replaced. Reserve funds are to be invested in a manner that assures maximum safety and appropriate liquidity and, secondarily, maximizes yield within such constraints. The investment objectives are, in order of priority, as follows:
1. Preservation and safety of principal; and
2. Liquidity to meet expected and unexpected expenditures; and
3. Maximization of yield.
INVESTMENT RESPONSIBILITIES
The Board has sole authority to approve and amend, alter or otherwise make changes to this Policy. Any modifications to this policy shall be in writing and approved by the Board. The Board shall have direct control with regard to opening appropriate bank accounts and establishing safekeeping accounts or other arrangements for the custody of securities and execute such documents as may be necessary. The Board may employ the service of a qualified investment advisor to direct a portion or all of the investment activities of the Association consistent with guidelines set forth in this investment policy. The Board will monitor ongoing investment activities to ensure proper liquidity is being provided and that the investment strategy is consistent with the Association's objectives. The Board of Directors shall review investment performance no less than quarterly.
INVESTMENT GUIDELINES
A. Eligible Investments: The portfolio will be limited to the following investments:
1. Certificates of deposit (CDs); and
2. Money market deposit accounts; and
3. Money market funds; and
4. U.S. treasuries and US treasury zero coupons.
B. Credit Quality Restrictions: All investments shall be AAA-rated or US Treasury securities
C. Maturity Limits:
1. No individual investment may exceed 2 years in maturity; and
2. The weighted average maturity of the portfolio will not exceed 1 year. The company must structure its investment portfolio in order to meet anticipated cash requirements.
D. Strategy: Investments shall be structured so they mature in successive years allowing the Association to minimize the interest rate risk.
E. Custodian: Investments will be held in custodial accounts with approved banks or financial institutions federally insured either through FDIC or the US Government, with no more than $100,000.00 held in anyone bank.
PROCEDURES
1. Transfers of budgeted additions to reserves shall be made on a monthly basis; and
2. A quarterly report of earnings shall be prepared by management, financial advisor, or the treasurer and presented at a Board meeting; and
3. Two Board member signatures must be required to withdraw funds from investment accounts. An exception may be made for transfers between accounts of the Association so long as both accounts require two Board member signatures for withdrawals of funds; and
4. In addition to any requirements provided by the Association's governing documents, the Association shall obtain coverage by fidelity insurance to protect the Association from loss due to theft for any person with access to its investments.
SECRETARY'S CERTIFICATION: The undersigned, being the Secretary of Pine Terrace Homeowners Association, a Colorado nonprofit corporation, certifies that the foregoing policy and procedure was adopted by the Board of Directors of the Association, at a duly called and held meeting of the Board on January 17, 2006 and in witness thereof, the undersigned has subscribed his name.
PINE TERRACE HOMEOWNERS ASSOCIATION, a Colorado nonprofit corporation
/s/ Jerry Bills, Secretary
Inspection and Copying of Association Records
Adopted January 17, 2006 with an effective date of January 1, 2006
The Board of Directors of Pine Terrace Homeowners Association ("Association") pursuant to Colorado statutes for inspection and copying of association records has adopted the following policy and procedure:
1. Inspection of Association Books and Records by Members/Owners ("Members"). A Member or his/her authorized agent is entitled to inspect and copy, at the Member's expense and during regular business hours at a reasonable location specified by the Association, any of the records or papers of the Association (except as specifically limited or excluded by Section 3 below) if the Member gives the Association written demand at least five (5) business days before the date on which the Member wishes to inspect and copy such records and:
1.1 The demand is made in good faith and for a proper purpose; and
1.2 The Member describes with reasonable particularity the purpose and the records or papers the Member desires to inspect; and
1.3 The records or papers actually inspected are directly connected with the described purpose. "Proper purpose" means a purpose reasonably related to the demanding Member's interest as a Member of the Association. It is within the reasonable discretion of the Board to determine whether a Member's demand to inspect and copy is made in good faith and for a proper purpose.
2. Proper Purpose/Limitation. Without the consent of the Board, a membership list or any part thereof may not be obtained or used by any person for:
2.1 Any purpose unrelated to a Member's interest as a Member; or
2.2 To solicit money or property unless such money or property will be used solely to solicit the votes of the Members in an election to be held by the Association; or
2.3 Any commercial purpose; or
2.4 To be sold to or purchased by any person.
3. Exclusions. The Association may keep the following records and documents confidential:
3.1 Attorney-Client Confidential Documents. In order to protect the attorney/client privilege existent between the Association and its attorneys, all attorney created documents, including, but without limitation, memos, opinion letters, and draft documents prepared at the behest of the Board, are not available for the inspection or copying by any Member or his/her authorized agent, without the consent and authority of the Board and upon advice of the legal counsel involved.
3.2 Personnel Confidential Documents. Documents pertaining to employees of the Association or involving employment, promotion, discipline, or dismissal of an officer, agent or employee.
3.3 Applicable Law. Any documents that are confidential under constitutional, statutory or judicially imposed requirements.
3.4 Individual Privacy. Any documents the disclosure of which would constitute an unwarranted invasion of individual privacy are confidential.
4. Copy and other Document Fees. The Association will impose a reasonable charge, covering the costs for copies of any documents the Association provides to a Member.
SECRETARY'S CERTIFICATION: The undersigned, being the Secretary of Pine Terrace Homeowners Association, a Colorado nonprofit corporation, certifies that the foregoing policy and procedure was adopted by the Board of Directors of the Association, at a duly called and held meeting of the Board on January 17, 2006 and in witness thereof, the undersigned has subscribed his name.
PINE TERRACE HOMEOWNERS ASSOCIATION, a Colorado nonprofit corporation
/s/ Jerry Bills, Secretary
Schedule of Fines
Adopted January 17, 2006 with an effective date of January 1, 2006
The Board of Directors ("Board of Pine Terrace Homeowners Association ("Association") pursuant to Colorado statutes for enforcement of the Declaration, Bylaws, Rules and Regulation and Schedule of Fines has adopted the following policy and procedure:
1. Notice of Alleged Violation. Notice of Alleged Violation of any provision of the Governing Documents shall be provided to the applicable Owner by as soon as is reasonably practicable after the Board's receipt of such violation. The Board may also, at its option, provide a copy of such Notice to any non-owner violator ("Related User"). The Notice shall describe the nature of the violation and shall further state that the Board may seek to protect its rights as they are specified in the Governing Documents.
2. Service of Notices. Service of all notices required or permitted to be given hereunder shall be made as follows:
a. If to a Owner and/or Related User: By personal delivery to the Owner and/or Related User; or by US Mail, postage prepaid, addressed to the last registered address of the Owner and/or Related User as contained in the Association's records.
b. If to the Association: By personal delivery or US Mail, postage prepaid, addressed to the Association in care of its registered agent and office, as maintained with the Colorado Secretary of State, or such other address as the parties may be advised of in writing. Any notice personally delivered shall be deemed received on the date of delivery, and any notice mailed shall be deemed received on the fifth day following the date of mailing.
3. Request for Hearing. If an Owner desires a hearing to challenge or contest any alleged violation and possible fine, the Owner must request such hearing, in writing, within thirty (30) days from receipt of the Notice of Alleged Violation. The request for hearing shall describe the grounds and basis for challenging the alleged violation. If a hearing is not requested within the 30-day period, the Board shall determine if there was a violation, and if so, may assess a reasonable fine within the guidelines contained in this Policy and Procedure within 60-days of the expiration of the 30-day period. The Association's managing agent shall give notice of said assessment to the applicable Owner as provided in the Association's governing documents or this Policy and Procedure. Unless otherwise provided in the Association's governing documents, the fine assessment is due and payable immediately upon receipt of notice of the fine assessment.
4. Board to Conduct Hearing. The Board shall hear and decide cases set for hearing pursuant to these Policy and Procedure. The Board may appoint an officer or other Owner to act as the Presiding Officer at any of the hearings.
5. Conflicts. Any Board member who is incapable of objective and disinterested consideration on any hearing before the Association shall disclose such to the President of the Board prior to the hearing on the case, if possible, or, if advance notice is not possible, then such disclosure shall be made at the hearing, and the Board member shall be disqualified from all proceedings with regard to the hearing. If disqualification of any Board member(s) results in an even number of remaining Board members eligible to hear a case, the Presiding Officer may appoint an Association member, in good standing, to serve as a voting member of the hearing board.
6. Hearing. The Board shall inform the Owner of the scheduled time, place and date of the hearing, provided that the Presiding Officer may grant continuances for good cause. At the beginning of each hearing, the Presiding Officer shall explain the rules, procedures and guidelines by which the hearing shall be conducted and shall introduce the case before the Board by reading the Notice of Alleged Violation. Each party may make opening statements, may present evidence and testimony, may present witnesses, and may make closing statements. Neither the complaining parties nor the Owner must be in attendance at the hearing. However, the decision of the Board at each hearing shall be based on the matters set forth in the Notice of Alleged Violation, Request for Hearing, and such evidence as may be presented at the hearing. Unless otherwise determined by the Board, all hearings shall be open to attendance by all members of the Association.
7. Decision. After all testimony and other evidence has been presented to the Board at a hearing, the Board shall render its written findings and decision, and impose a reasonable fine, if applicable, within ten (10) days after the hearing. A decision, either a finding for or against the Owner, shall be by a majority of the members of the hearing board present at the hearing. The Board may also issue and present for recording with the County Clerk and Recorder, a Notice of Finding of Violation. Upon satisfactory compliance with the Association's governing documents, the Association issuing and recording a Release of Notice of Finding of Violation may release the Notice of Finding of Violation.
8. Fine Schedule. Unless otherwise provided in the Rules and Regulations, any violation of the Governing Documents will subject the Owner to a reasonable fine assessment imposed by the Association as follows:
a. Notice of Violation: Written warning letter or posting of notice.
b. Fines shall be determined by the hearing board for each finding of a violation based on the type, severity, repetition and circumstances of each violation based on the following guidelines:
- First time or minor violations between $25 and $75
- Repeated minor violations between $50 and $100
- Repeated or flagrant violations between $100 and $500
c. Fines may not exceed $500.00 for any one finding of a violation.
d. In the event of a continuing violation, a daily fine may be levied if, and only if, the Association's agent performs a daily inspection to verify the violation is continuing. Notwithstanding any provision of this fine schedule or Policies and Procedures, the Association may use any legal means available at any time to enforce the terms of the Governing Documents.
SECRETARY'S CERTIFICATION: The undersigned, being the Secretary of Pine Terrace Homeowners Association, a Colorado nonprofit corporation, certifies that the foregoing policy and procedure was adopted by the Board of Directors of the Association, at a duly called and held meeting of the Board on January 17, 2006 and in witness thereof, the undersigned has subscribed his name.
PINE TERRACE HOMEOWNERS ASSOCIATION, a Colorado nonprofit corporation