Laserfiche WebLink
<br /> <br />4810-5342-0509, v. 2 <br /> 28 <br /> <br />as may be required by Governmental Entities, including engaging legal, management and accounting <br />services. <br />4.3.12 Borrow Funds. The Association shall have the power to borrow money to <br />improve, repair or maintain the Association Property and to hypothecate any or all real or personal property <br />owned by the Association, including pledging as collateral the assessment liens levied thereon provided <br />that: (a) the borrowing of any money or hypothecation of any real or personal property in excess of five <br />percent (5%) of the budgeted gross expenses of the Association shall require the approval by written ballot <br />of at least sixty-seven percent (67%) of each class of Members; and (b) the lender’s rights of default for <br />any loan obtained pursuant to this Section are limited to, after taking possession of any Association <br />Property, charging reasonable admission and fees, and, upon satisfaction of the debt, such Association <br />Property shall be returned to the Association. Notwithstanding the foregoing, in no event may the <br />Association borrow money to fund any litigation by the Association relating to the Community or the <br />Improvements unless the consent of a majority of each class of Members is obtained. <br />4.3.13 Rights Regarding Title Policies. If any title claims regarding the Association <br />Property are made by any third party, the Association shall have the power to pursue such claims on any <br />title insurance policy held by the Owners or the Association, and each Owner hereby delegates, on a non- <br />exclusive basis, and assigns to the Association any rights he or she may have under his or her title <br />insurance policies to the extent that the title claim relates to the Association Property. <br />4.3.14 Rules. The Board, by majority vote, shall have the power to adopt the Rules. <br />The Board shall further have the power to amend the Rules as it deems appropriate relating to the use and <br />operation of the Community. Notwithstanding any provision of this Declaration to the contrary and to the <br />extent California Civil Code Section 4340, et seq. is applicable to the Rules, any rule which is considered <br />to be an operating rule under California Civil Code Section 4340, et seq. may not be adopted, changed or <br />amended except by and pursuant to the procedures set forth in California Civil Code Section 4340, et seq. <br />4.3.15 Control Parking. Subject to the provisions of this Declaration, the Association <br />shall have the right to control parking within the Community and to promulgate rules and regulations to <br />control parking in a manner consistent with this Declaration. The Board shall determine, in its sole <br />discretion, whether there is a violation of the parking and vehicular restrictions set forth in this Declaration <br />or established by the Board, and, if such noncompliance is determined by the Board to exist, the Board <br />shall have the power to enforce all parking and vehicle use regulations applicable to the Community, <br />including the power to remove violating vehicles from the Community pursuant to California Vehicle Code <br />Section 22658.2 or other Applicable Laws. <br />4.3.16 Assignment of Maintenance Responsibilities. The Association shall have <br />the power to relinquish or assign its maintenance responsibilities to Governmental Entities, including, <br />without limitation, maintenance or assessment districts, utility companies and/or water, sewer or school <br />districts, provided that such Governmental Entities shall have accepted such maintenance responsibility of <br />the Association. <br />4.4 Duties of the Association. In addition to the powers described above, and without limiting <br />their generality, the Association has the power and the obligation to perform duties set forth in this <br />Declaration and the other Governing Documents, subject to and in accordance with the Governing <br />Documents, the Community Entitlements and Applicable Laws. <br />4.4.1 Applicable Laws, Community Entitlements and Governing Documents. <br />The Association shall comply with all Applicable Laws and the Community Entitlements and the Storm <br />Water Agreement. The Association shall perform all duties that may be imposed on the Association in the <br />Governing Documents. <br />4.4.2 Acceptance of Property. The nature, design, quality and quantity of all <br />Improvements to the Association Property shall be determined by Declarant, in its sole discretion. The <br />Association shall accept any Association Property and Improvements situated thereon and any <br />281