Crestwood POA

Crestwood POA

CRESTWOOD PROPERTY OWNERS

CRESTWOOD PROPERTY OWNERS ASSOCIATION 4/28/2008

CPOA BYLAWS

BY-LAWS OF CRESTWOOD PROPERTY OWNERS ASSOCIATION
ARTICLE I
NAME AND LOCATION: The name of the Association is CRESTWOOD PROPERTY OWNERS ASSOCIATION, hereinafter referred to as the “Association.” The initial office of the Association shall be located at 200 Crestview Drive, Hendersonville, North Carolina, 28739, but meetings of members and directors may be held at such places within the State of North Carolina, County of Henderson, as may be designated by the Board of Directors.
ARTICLE II
DEFINITIONS
Section 1. “Association” shall mean and refer to CRESTWOOD PROPERTY OWNERS ASSOCIATION, its successors and assigns.
Section 2. “Properties” shall mean and refer to that subdivision known as CRESTWOOD SUBDIVISION, in Henderson County, North Carolina.
Section 3. “Common Area” shall mean all real property owned by the Association for the common use and enjoyment of the members.
Section 4. “Lot” shall mean’ and refer to any plot of land shown upon any recorded or unrecorded subdivision map of the Properties with the exception of the Common Areas.
Section 5. “Owner” shall mean and refer to the record owner, whether one or more persons or entities, of the fee simple title to any Lot which is a part of CRESTWOOD SUBDIVISION.
Section 6. “Declarant” shall mean and refer to CRESTWOOD PROPERTY OWNERS ASSOCIATION, its successors and assigns.
Section 7. “Declaration” shall mean and refer to the Declaration of Restrictive Covenants, Limitations and Uses applicable to CRESTWOOD SUBDIVISION, recorded in the Office of the Register of Deeds, Henderson County, North Carolina.
Section 8. “Member” shall mean and refer to those persons entitled to membership as provided hereinafter.
ARTICLE III
MEMBERSHIP AND VOTING RIGHTS
Section 1. Every owner of a lot which is subject to assessment shall be a member of the Association. - Membership shall be appurtenant to and may not be separated from ownership of any Lot which is subject to assessment. Each lot owner shall be entitled to a vote except when more than one person holds an interest in any Lot, all such persons shall be members. The vote for such Lot shall be exercised as they determine, but in no event shall more than one vote be cast with respect to any lot.
ARTICLE IV
MEETINGS OF MEMBERS
Section 1. Annual Meetings. The first annual meeting of the members shall be held within one year from the date of formation of the Association, and each subsequent regular annual meeting of the members shall be held no later than the first week of March, the place and time to be selected . (NEW)
Section 2. Special Meetings Special meetings of the members may be called at any time by the President or by the Board of Directors or upon written request of two-thirds (2/3) of the members who are entitled to vote.
Section 3. Notice of Meetings Written notice of each 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 prepaid, at least fifteen (15) days before such meeting to each member entitled to vote thereat, addressed to the member’s address last appearing on the books of the Association, or supplied by such member to the Association for the purpose of notice. Such notice shall specify the place, day and hour of the meeting, and, in the case of a special meeting, the purpose of the meeting.
Section 4. Quorum The presence at the meeting of two-thirds (2/3) of members entitled to cast, or of proxies entitled to cast votes shall constitute a quorum for any action except as otherwise provided in the Declaration, or these By-Laws, If, however, such quorum shall not be present or represented at any meeting, the members entitled to vote thereat shall have power to adjourn the meeting from time to time, without notice other than announcement of the meeting, until a quorum as aforesaid shall be present.
Section 5. 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 prior to the meeting-at which the proxy is to be exercised. 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 this Association shall be managed by a Board of five (5) Directors, Who will be members of the Association.
Section 2. Term of Office At the first annual meeting the directors shall be elected for a term of one (1) year, and at each annual meeting thereafter, the members shall elect new directors for the coming year. No director shall be allowed to serve more than two (2) consecutive terms in office.
Section 3. Removal Any director may be removed from the Board, with or without cause, by a majority vote of the members of the Association. In the event of death, resignation or removal of a director, his successor shall be selected by the remaining members of the Board and shall serve for the unexpired term of his predecessor.
Section 4. 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.
Section 5. Action Taken Without a Meeting The directors shall have the right to take emergency action in the absence of a meeting which they could take at a meeting by obtaining the approval of all the directors available. Any action so approved shall have the same effect as though taken at a meeting of the directors. Members should be notified of the cause of the emergency.
ARTICLE VI
MEETINGS OF DIRECTORS
Section 1. Regular Meetings Regular meetings of the Board of Directors may be called as necessary by the Chairman or any two(2) directors.
Section 2. Special Meetings Special meetings of the Board of Directors shall be held when called by the President of the Association, or by any two (2) directors.
Section 3. 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 VII
POWERS AND DUTIES OF THE BOARD OF DIRECTORS..
Section 1. Powers The Board of Directors shall have the power to:
(a) Suspend the voting rights of a member during any period in which such member shall be in default with the payment of any assessment levied by the Association. Such rights may also be suspended after notice and hearing, for a period not to exceed 60 days for infraction of published rules and regulations.
(b) Exercise for the Association all powers, duties and authority vested in or delegated to this Association and not reserved to the membership by other provisions of these By-Laws;
(c) Declare the office of a member of the Board of Directors to be vacant in the event such member shall be absent without reason from three (3) consecutive regular meetings of the Board of Directors.
(d) Employ an independent contractor, or such other employees as they deem necessary, and to prescribe their duties.
Section 2 Duties It shall be the duty of the Board of Directors to:
(a) 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 annual meeting of the members, or at any special meeting when such statement is requested in writing by one-fourth (1/4) of the members who are entitled to vote.
(b) Supervise all officers, agents and employees of this Association, and to see that their duties are properly performed.
(c) As more fully provided in the Declaration, to:
(l)Recommend to the annual meeting for approval the amount of the annual assessment.
(2) Send written notice of each assessment and the due date to every member subject thereto at least thirty (30) days-in advance of each assessment period.
(3) Take timely action to collect overdue assessments. (NEW)
(d) Furnish information concerning unpaid assessments when such information is pertinent to the financial welfare of the Association. (NEW)
(e) Procure and maintain adequate liability and hazard insurance on property owned by the Association.
(f) Cause all officers or employees having fiscal responsibilities to be bonded, as it may deem appropriate.
(g) Cause the Common Area to be maintained.
ARTICLE VIII
OFFICERS AND THEIR DUTIES
Section 1. Enumeration of Officers The Officers of this Association shall be a president and a vice-president, who shall at all times be members of the Board of Directors; a secretary; and a treasurer; and such other officers as the Board may from time-to time by resolution create.
Section 2. Election of Officers The election of officers shall take place at the annual meeting concurrent with the election of the board of directors. (NEW)
Section 3. Term The officers of this Association shall be elected annually by the Board, and each shall hold office for one (1) year unless he shall sooner resign, or shall be removed, or otherwise disqualified to serve.
Section 4. Special Appointments The Board may select such other officers as the affairs of the Association may require, each of whom shall hold office for such period, have such authority, and perform such duties as the Board may 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.
Section 7. Multiple Offices The offices of the secretary and treasurer may be held by the same person. No person shall simultaneously hold more than one of any of the other offices except in the case of special offices created pursuant to Section 4 of this Article.
Section 8. Duties The duties of the officers are as follows:
PRESIDENT -
The President shall preside at all meetings of the Board of Directors; shall see that orders and resolutions of the Board are carried out; and shall co-sign all checks and promissory notes in amounts over $500.
VICE-PRESIDENT
The Vice-President shall act in the place and stead of the President in the event of his/her absence, inability or refusal to act, and shall exercise and discharge such other duties as may be required of him by the Board.
SECRETARY
The Secretary shall record the votes and keep the minutes of all, meetings and proceedings of the Board and of the members; keep the corporate seal of the Association and affix it on all papers requiring said seal; serve notice of meetings of the Board and of the members; keep appropriate current records showing the members of the Association together with their addresses; and shall perform such other duties as required by the Board.
TREASURER
The Treasurer shall receive and deposit in the appropriate bank accounts all monies of the Association and shall disburse such funds as directed by resolution of the Board of Directors; keep proper books of account; and shall prepare an annual budget and a statement of income and expenditures to be presented to the membership at its regular annual meetings, and deliver a copy of each to the members for a vote of approval.
ARTICLE IX
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 By-Laws of the Association shall be available for inspection by any member at the principal office of the Association, where copies may be obtained.
ARTICLE X
COVENANT FOR MAINTENANCE ASSESSMENTS
Section 1. All members of the Association covenant and agree, in full accord with provisions of their deeds, to share equally in the cost of maintenance and repair of the roads.. They also are obligated to pay annual assessments for maintenance of common property adjacent to the road, such as ditches., The personal obligation for delinquent assessments shall not pass to his successors in title unless expressly assumed by them in writing.
Section 2. Purpose of Assessments The assessments levied by the Association shall be used exclusively to promote the health, safety and welfare of the residents in the Properties and for the improvement and maintenance of any property of the Association.
Section 3. Annual Assessment The Board Of Directors will recommend annual assessments as required to cover budgeted operating expenses and general expenses for road and property- maintenance for presentation and assent at the annual meeting.(NEW)
Section 4. Special Assessments for Capital Improvement In addition to the annual assessments authorized above, the Association may levy, in any assessment year, a special assessment applicable to that year only, for the purpose of defraying, in whole or in part, the costs of major road repairs and of any construction, reconstruction, repair or replacement of a capital improvement upon the property of the Association, including fixtures and personal property related thereto, provided that any such assessment shall have the assent of two—thirds (2/3) of the vote of members who are voting in person or by proxy at a meeting duly called for this purpose.(NEW)
Section 5. Notice and Quorum for any Action Authorized Under Sections 3 and 4 Written notice of any meeting called for the purpose of taking any action authorized under Section 3 or 4 shall be sent to all members not less than ten (10) days nor more than thirty (30) days in advance of the meeting. At the first such meeting called, the presence of members or of proxies entitled to cast sixty percent (60%) of all the votes of membership shall constitute a quorum. If the required forum is not present, another meeting may be called subject to the same notice requirement and the required quorum at the subsequent meeting shall be one-half (1/2) of the required quorum at the preceding meeting. No such subsequent meeting shall be held more than thirty (30) days following the preceding meeting.
Section 6. uniform Rate of Assessment Both annual and special assessments must be fixed at a uniform rate for all lots.
Section 7. If any assessment for road repair or maintenance has not been paid within twelve (12) months, legal action may be taken for collection with the approval of majority of property owner members.
Section 7a Assessment due date. (a) Annual Assessments as defined in Section 4 above, will be due and payable in full on the first day of February and become delinquent if not paid by the last day of March each year. (NEW)
(b) Special Assessments as defined in Section 4 above, will become due and payable as recommended by the Board Of Directors and approved by a majority vote of the membership. If special assessments are not paid as provided herein, legal action may be taken for collection with the approval of a majority of the property owner members.(NEW)
ARTICLE XI
ASSOCIATION SEAL
The Association shall have a seal in circular form having within its circumference the words: CRESTWOOD PROPERTY OWNERS ASSOCIATION.
ARTICLE XII
AMENDMENTS
Section 1. These By-Laws may be amended, at a regular or special meeting of he members, by a vote of seventy—five percent (75%) of the members entitled to vote.

ARTICLE XIII
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.








MEMORANDUM FOR THE RECORD
SUBJECT: CRESTWOOD PROPERTY OWNERS ASSOCIATION COMMON
PROPERTY

I. Association common property consists of the Crestwood Roads and a small section of property bounded by the Munson and Kelly properties on which the Crestwood hydrant is located. The roads are privately owned, having been deeded to the Association by the Developer. The roadway consists of a 30 foot right-of-way of which 18 feet is paved and 6 feet on each side is unpaved. As provided in all property deeds, the cost of maintenance of the roads is to be shared equally by all property owners. The fire hydrant and the water supply line connected at North Rugby Road is on Crestwood common property.
II. It has been a long-standing, agreed-upon policy that all property owners will maintain the 6 foot right-of-way extending the entire length of their property frontage in an attractive manner by cutting grass and weeds and also controlling growth of shrubs or plants. Additionally, it is understood that there can be no structure of any type on the right-of-way.
III. In addition to keeping Crestwood attractive for the benefit of present and future owners, it is also essential that the roadways be kept safe by preventing any “ sighting hazards”. The established policy concerning this element is that Owners will keep a check on their property frontage to make certain that (1) Tree branches projecting over the roadway are trimmed to a minimum height of 12 feet above the road surface and (2) That shrubs be kept well back from the paved road to prevent any blind spots for drivers of vehicles.
The hydrant property frontage is maintained by the Association.

THE ASSOCIATION THANKS YOU FOR YOUR SUPPORT

CPOA CALENDAR OF CALENDAR

March 27, 2008



CRESTWOOD CALENDAR OF EVENTS


1. ANNUAL MEETING : Between January 1 and March 31
2. BOARD MEETING(S) : Following annual meeting as called for by president AND/or 2 or more board members.
3. DUES : Due by March 15th and delinquent May 1.
4. SPECIAL ASSESSMENTS : Same schedule as dues.
5. QUORUM : 2/3 of members; majority of Board
• Proxies may be used to solicit majority acceptance
6. TERM OF OFFICE : 1 year; no board member may serve more than 2 consecutive terms in the same office
7. STANDING COMMITTEES : current committees are road , welcoming and nominating

JAN-FEB Gather all information and prepare annual financial
statement. Develop budget. Notify homeowners of
dues/assessment by Feb 15

MAR Send out notices 10 days in advance of
Annual meeting. Distribute minutes of annual
meeting. Distribute proxies. Dues/assessments due
Mar 15. Prepare and file taxes before Mar 15th.
MAY Dues and assessments are due by May 15th