CVG Bylaws

BY-LAWS OF CARMEL AT VINEYARD GREEN HOMEOWNERS ASSOCIATION

ARTICLE I
NAME AND LOCATION

The name of the Nonprofit Corporation is CARMEL AT VINEYARD GREEN HOME OWNERS ASSOCIATION, herein referred to as the “Association”. The office of the Association shall be located at the home occupied by the President of the Association and shall change from time to time as a new President is elected.

ARTICLE II
DEFINITIONS

Section 1. The word “Member” shall mean and refer to those persons who own a lot in CARMEL AT VINEYARD GREEN SUBDIVISION and while there shall only be one membership if one person owns several lots that member is entitled to cast one vote for each lot that he or she owns.

Section 2. “Declaration” shall mean and refer to the Declaration of Restrictions covering CARMEL AT VINEYARD GREEN SUBDIVISION.

ARTICLE Ill
BUSINESS OF ASSOCIATION

The business of the Association is the maintenance of the storm water controls in  said Subdivision, maintenance of some islands, sign or signs identifying the subdivision and like, areas or interests.

ARTICLE IV MEETING OF MEMBERS

Section 1. There will be no annual meetings but only special meetings or called meetings, which will be called at any time by the President, Board of Directors or upon written request of one fourth (1/4) of the members.

Section 2. Written notice of each called meeting of the members shall be given by or at the direction of the Secretary or person authorized to call the meeting, by mailing a copy of such notice, postage pre-paid, or delivering in person a copy of such notice at least fifteen (15) days before such meeting to each member entitled to vote.

Section 3. Quorum. One half (Yi) of the votes of the membership shall constitute a quorum for purposes of determining membership. All Sections of CARMEL AT VINEYARD GREEN SUBDIVISION developed by Lobos Development are to be included. If a quorum is not present at any meeting the members entitled to vote thereat shall have the power to adjourn the meeting from time to time without notice other than announcement at the meeting until a quorum asaforesaid shall be present or be represented.

Section 4. Proxies. At all meetings of members, each member may vote in person or by proxy. All proxies shall be in writing and filed with the Secretary. Every proxy shall be revocable and shall automatically cease upon conveyance by the member of his lot.

ARTICLE V
BOARD OF DIRECTORS: SELECTION:TERM OF OFFICE

Section 1. Number. The affairs of the Association shall be managed by a Board of three (3) Directors, each of whom shall be a member of the Association.

Section 2. Term of Office. The term of office shall be three (3) years. Any vacancy on the Board will be filled by the remaining directors electing someone.

Section 3. Compensation. No director shall receive compensation for any service he may render to the Association. However, any director may be reimbursed for his actual expenses incurred in the performance of his duties provided such expenses have been previously approved by the Board.

ARTICLE VI
NOMINATION AND ELECTION OF DIRECTORS

Section 1. Initial Board. The initial Board of Directors shall be named by Lobos Development, Inc., or its designee; However, the developer itself shall act as the Board of Directors until all sections have been developed and recorded and 75% of the lots have been sold or until the year 2005, whichever shall come first. Thereafter, a nominating committee, appointed by the Board of Directors, consisting of one (1) member of the Board of Directors and two (2) or more members of the Association, not members of the Board of Directors, shall nominate directors and these directors shall be elected by the Board of Directors, unless one-fourth (1/4) of the Association shall request a special election, whereby, the members shall vote on directors.

ARTICLE VII
MEETINGS OF DIRECTORS

Section 1. Regular Meetings. All meetings of the Board of Directors shall be special meetings and shall be held when called by the President of the Association, or by any two Directors after not less than three (3) days notice to Each Director.

Section 2. Quorum. A majority of the number of Directors shall constitute a quorum for the transaction of business. Every act or decision done or made by a majority of the directors present at a duly held meeting at which a quorum is present shall be regarded as the act of the Board.

ARTICLE VIIl
POWERS AND DUTIES OF THE BOARD OF DIRECTORS

Section 1.Powers. The Board of Directors shall have all the powers, duties and authorities vested in, or delegated to, this Association and not reserved to the membership by other provisions of these By-Laws or the Declaration.

Section 2. Duties. It shall be the duty of the Board of Directors to:

  • Cause to be kept a complete record of all its acts and corporate affairs and to present a statement thereof to the members at the meeting of the members, or at any special meeting when such statement is requested in writing by one-fourth {1/4) of the members;
  • Supervise any officers, agents and employees of this Association, and to see that their duties are properly performed;
  • To recommend to the Association any and all assessments which must be voted on by the Association and which must be passed as provided in the Declaration by a two-thirds (2/3) vote and to:
    • Send a written notice of each assessment after the Owners Association meeting fixing same to every owner subject thereto at least thirty (30) days in advance of the due date, which due date shall also be established by the Owners Association.
    • Foreclose the lien against any property for which assessments are not made within sixty days after due date or to bring an action at law against the owner personally obligated to pay the same.
  • Issue, or to cause an appropriate officer to issue, upon demand by any person, a certificate setting forth whether or not any assessment has been paid. A reasonable charge may be made by the Board for the issuance of these certificates. If a certificate states an assessment has been paid, such certificate shall be conclusive evidence of such payment;
  • Procure and maintain adequate liability and hazard insurance on property owned, maintained or cared for by the Association.
  • To repair and maintain all common areas, including, but not limited to, the storm water drainage system using the assessments collected as herein above set out.

ARTICLE IX OFFICERS AND THEIR DUTIES

Section 1. Enumeration of Officers. The officers of this Association shall be a President, Secretary and Treasurer.

Section 2. Election of Officers. The election of officers shall take place at the first meeting of the Board of Directors.

Section 3. Term. The officers of this Association shall be elected annually by the Board and each shall hold office for a three (3) year term unless he or she shall sooner resign. or shall be removed, or otherwise be disqualified to serve.

Section 4. Special Appointments. The Board may elect such other officers as the affairs of the Association may require, each of whom shall hold office for such period, having such authority, and perform such duties as the Board may, from time to time, determine.

Section 5. Resignation and Removal. Any officer may be removed from office with or without cause by the Board. Any officer may resign at any time giving written notice to the Board, the President or the Secretary. Such resignation shall take effect on the date of receipt of such notice or at any later time specified therein, and unless otherwise specified therein, the acceptance of such resignation shall not be necessary to make it effective.

Section 6. Vacancies. A vacancy in any office may be filled by appointment by the Board. The officer appointed to such vacancy shall serve for the remainder of the term of the officer he replaces.

Section7. Duties. The duties of the officers are those usually associated with each office.

SECTION X
BOOKS AND RECORDS

The books, records and papers of the Association shall at all times, during reasonable business hours, be subject to inspection by any member. The Declaration, the Articles of Incorporation and the By-laws of the Association shall be available for inspection by any member at the principal office of the Association, where copies may be purchased at reasonable cost or at the office of the Associations accountant or attorney.

ARTICLE XI
ASSESSMENTS

Section 1. Duty of Payment. As more fully provided in the Declaration, each member is obligated to pay to the Association any annual or special assessments which are secured by a continuing lien upon the property against which the assessment is made. Any assessments which are not paid when due shall be delinquent. If the assessment is not paid within (60) days after the due date, the assessment shall bear interest from the date of delinquency at the rate of eight (8) percent per annum, and the Association may bring an action at law against the owner personally obligated to pay the same or foreclose the lien against the property, and interest, costs, and reasonable attorney’s fees of any such action shall be added to the amount of such assessment. No owner may waive or otherwise escape liability for the assessments provided for herein by no use of any of the areas maintained by the Association.

Section 2. The initial assessment shall be $3SO.00, which will be paid to the Home Owners’ Association by the purchaser of a lot from the builder or developer. No initial assessment will be required from the builder or developer until a residence has been erected on said lot, at which time the assessment shall be due within one year of the beginning of the construction of the residence, if not sooner . The purpose of this initial assessment shall be to provide for improvement of islands referred to, the establishment of signs and payment of taxes on common areas and storm water areas as required by the covenants. There will be no annual assessments until such time as they may be established by the Home Owners’ Association, as herein provided in these By-Laws.

ARTICLE XII
AMENDMENTS

Section 1. These By-laws may be amended, at a regular or special meeting of the members, by a vote of a majority of a quorum of members present in person or by proxy, except that the Federal Housing Administration or the Veterans Administration shall have the right to veto amendments so long as there are any loans on any of the lots which are insured by these two agencies.

Section 2. In the case of any conflict between the Declaration and these By-laws, the Declaration shall control.

ARTICLE XIII
RESTRICTIONS ON EARNINGS

No part of the net earnings of the Association shall inure to the benefit of its members, directors, officers, or other persons except that the Association shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the exempt purposes of the Association.

ARTICLE XIV
DISSOLUTION

Upon the dissolution of the corporation the Board of Directors shall, after paying or making provisions for the payment of all of the liabilities of all of the corporation, dispose of all of the assets of corporation exclusively for the purpose of the corporation in such manner, or to such organization or organizations organized and operated exclusively for the same purpose as this corporation or to a municipal corporation who would carry out the purposes of this corporation. Any such assets not so disposed of shall be disposed of by the Clerk of Superior Court of New Hanover County, exclusively for such purposes or to such organization or organizations, as said Court shall determine which are organized and operated exclusively for such purposes.

ARTICLE XV
MISCELLANEOUS

The fiscal year of the Association shall begin on the first day of January and end on the 31st day of December of every year, except that the first fiscal year shall begin on the day of commencement.

Swales are built to approved plans submitted with application and currently meet requirements of design and permit for New Hanover County and the State of North Carolina.