3.01. Membership. Every person or entity who is the Owner of a fee or of the equitable title, by contract for deed or otherwise, in a Lot of the Creekwood Ranches Subdivision, Units 1, 2, 3 or 4, Comal County, Texas, shall be a member of CRPOA, subject to the conditions herein. Whenever a member shall cease to own a Lot in Creekwood Ranches Subdivision, such member shall automatically be dropped from the membership roll of CRPOA.
3.02. Voting Rights. Members shall be entitled to one vote. In caseswhere one Owner owns more than one Lot, said Owner will be entitled to one vote, provided however, in the event said Owner should sell one or more of said Lots to a party who did not theretofore own property then the new owner shall thereafter be entitled to one vote. When more than one person holds such interest in any Lot, all such persons shall be members and the vote for si^ch Lot shall be exercised as they may among themselves determine, but in no event shall more than one vote be cast with respect to any such Lot.
3.03. Suspension of Membership Rights. The membership rights (includingvotingrights)o7anyMember may be suspended by action of the Board of Directors if such Member shall have failed to pay when due any assessment or charge lawfully imposed upon him or any property owned by him, or if the Member, his family, his tenants, or guests of any thereof, shall have violated any rule or regulation of the Board regarding the use of any property or conduct with respect thereto, provided such violation is deemed by the Board to be a serious violation requiring disciplinary action.
3.04. Transfer of Membership, A membership may not be sold or transferred; except however, when a member sells his Lot, the purchaser will become a member without payment of any initial fees.
3.05. Assessments • Each member is obligated to pay to CRPOA an Annual Assessment and any Special Assessments which are secured by a continuing lien upon the property against which the assessment is made. In cases where one Owner owns more than one Lot there will be only one assessment in the amount stipulated herein, provided however, that in the event said Owner should sell one or more of his tracts to a party who theretofore did not own a Lot within Creekwood Ranches, then said lot shall thereafter be subject to the assessment and lien herein provided , for. Any assessments which are not paid when due shall be delinquent; if the assessment is not paid within 30 days after due date CRPOA may file a lien against the member personally obligated to pay the assessment, and costs of preparing and filing said lien shall be added to the amount of such assessment. No member may waive or otherwise relieve himself from liability for the assessments for which he or she is obligated by non-use of the Common Area or by renunciation of Membership in CRPOA.
(a) The Annual Assessment is $48.00 and is payable within 30 days of receipt thereof.
(b) Special Assessments will be established and collected as herein provided.
The amount of the Annual Assessments are subject to change by the action of the Board of Directors up to 10% in excess of the stipulated amount per annum, provided however, any increase of the Annual Assessment in excess of 10% per annum shall require approval by twenty-five percent (25%) of the members of CRPOA.
3.06. Purpose of Annual Assessments, The purpose of the Annual Assessment/ is to (i) maintain the books and records of CRPOA; (ii) pay for the preparation of its tax returns; (iii) to operate, maintain, repair, and improve, on a nonprofit basis, the Common Area owned by CRPOA, exclusively for the benefit of its members; (iv) to pay for public liability insurance; and (v) to pay for property taxes attributable said Common Area.
In the event the need for maintenance or repair is caused through the willful act of a member, his tenant or guests, or invitees, and not covered nor paid for fully by insurance, the cosfc of such maintenance or repairs shall be added to and become a part of the assessment to which such member is subject.
3.07. Special Assessments for Capital Improvements. In addition to the Annual Assessments authorized above, CRPOA 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 cost of any construction, reconstruction, repair or replacement of the capital improvement upon the Common Area, including fixtures and personal property related thereto, provided that any such assessment shall have the assent of twenty-five percent (25%) of the votes of the members present, in person or by proxy, at a meeting duly called for this purpose.
3.08. Insurance. CRPOA shall obtain broad form public liability insurance covering the Common Area, and a single limit amount of not less than $1,000,000 covering claims for bodily injury or death, and $250,000 covering all claims for property damage arising out of any one occurrence. Premium for public liability insurance shall be part of the common expense payable out of assessments.
CRPOA may secure such other forms of insurance coverage as its Board of Directors may from time to time direct, to be paid as a common expense.
CRPOA shall not be liable or responsible for the destruction or the loss of or damage to the property of any member or the guest of any member, or visitor or other person.
3.09. Member’s Rights. Every member shall have the right of easement and enjoyment in and to the Common Area. All such rights and easements are subject, nevertheless, to the following rights of the Board of Directors of CRPOA; (a) to adopt and publish reasonable rules and regulations governing the use of the Common Area and facilities and the personal conduct of the members and their guests and to establish penalties for the infraction thereof; (b) to suspend the voting rights and right to use and enjoy any facilities by a member for any period during which any dues or assessments remain unpaid or during which a violation of these Bylaws exist, and for a period not to exceed 60 days for any infraction of rules or regulations adopted and promulgated by CRPOA; and (c) to grant easements or rights of way to a public utility corporation or public agency.
3.10. Unsold Lots. All lots held by the developer Village Craftsmen, Inc. shall be subject to only one assessment.