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Shelter Holdings 9/23/2024 (3)
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Shelter Holdings 9/23/2024 (3)
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Last modified
9/23/2024 3:42:12 PM
Creation date
9/23/2024 3:36:53 PM
Metadata
Fields
Template:
Contracts
Contractor's Name
Shelter Holdings
Approval Date
9/23/2024
Department
Legal
Department Project Manager
Tim Benedict
Subject / Project Title
Master Declaration
Tracking Number
0004524
Total Compensation
$0.00
Contract Type
Real Property
Contract Subtype
Other Real Property
Retention Period
10 Years Then Transfer to State Archivist
Imported from EPIC
No
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3.4. Exercise of Voting Rights. The vote for each Lot owned by a Member that is subject to a <br />Sub -Association shall be exercised by its Voting Member as described in Section 3.5. All other Members <br />shall each be entitled to personally exercise the vote of its Lot. If there is more than one Owner of a Lot, <br />the vote for that Lot shall be exercised as is determined by a majority of its co -Owners, but in no event shall <br />a Lot be allocated more than the voting power determined m accordance with Section 3.3. If a majority of <br />the co -Owners of a Lot (other than the co -Owners of a Lot developed as a condominium project, who shall <br />be represented by their Sub -Association's Voting Member) cannot agree upon the vote, any co -Owner may <br />deliver written notice of the disagreement to the Master Association and the vote of the Lot shall be <br />disregarded indetermining the proportion of votes with respect to the particular matter at issue. <br />3.5. Voting Members. If a Lot is subject to a Sub -Association, the Owners of that Lot shall <br />elect a Voting Member to represent it in accordance with the procedures specified in this Section 3.5. On <br />all Master Association matters requiring a membership vote, the Voting Member for the Sub -Association <br />shall be entitled to cast one vote for each vvhole Lot in such Voting Member's Sub -Association. If a Sub - <br />Association owns a partial Lot, it shall be treated as a co -Owner with any other Owner(s) of the Lot and its <br />voting rights shall be exercised as described in Section 3.4. teach Sub -Association shall notify the Master <br />Association in writing of the name of the elected Voting Member representing it and such notification shall <br />be effective until the Master Association receives written notice that the Voting Member has been removed <br />or replaced. The Voting Member for a Sub -Association must be an owner of a Unit within the Sub - <br />Association the Voting Member represents. <br />3.6. Board of Directors. The Master Association's Board of Directors shall be elected as <br />provided in the Bylaws. The City shall have the right to appoint one City representat ve, and such City <br />representative shall have the rights of a non -voting ex officro director on the Board of Directors. <br />3.7. Turnover Meeting. The Declarant shall call the Turnover Meeting within ninety (90) days <br />following the Conversion Date for the purposes of turning over control of the Master Association to the <br />Owners. The Turnover Meeting shall be conducted in accordance with the Bylaws. <br />3.8. Powers and Obligations. The Master Association shall have, exercise, and perfoiin (a) the <br />powers, duties, and obligations granted to the Master Association by this Master Declaration, the Bylaws, <br />and the Articles of Incorporation of the Master Association; (b) the powers and obligations of a non-profit <br />corporation pursuant to the Washington Nonprofit Corporation Act; and (c) any additional or different <br />powers, duties, and obligations necessary or desirable for the purpose of carrying out the functions of the <br />Master Association pursuant to this Master Declaration or otherwise promoting the general benefit of the <br />Members within the Property. The powers and obligations of the Master Association may, from time to <br />time, be amended, repealed, enlarged or restricted by changes in this Master Declaration, the Articles of <br />Incorporation or the Bylaws that are made in accordance with their provisions, and changes in the nonprofit <br />corporation laws of the state of Washington. However, unless expressly set forth herein or in the Articles <br />of Incorporation or the B) laws, the Master Association shall not act in the capacity of settling disputes <br />between Members or resole ng problems that Members may experience. Disputes or problems experienced <br />by Members in which the Master Association has no express authority or role as set forth in this Master <br />Declaration shall be resolved by private, lawful means chosenby the affected Members and there shall be <br />no recourse to the Master Association. <br />3.9. Liability. To the fullest extent permitted by law, none of the Master Association, the <br />Declarant, the Board, any committee established under or pursuant to the Bylaws, nor any of their officers, <br />members, employees or agents (individually, a "Master Association Party," and collectively, the "Master <br />Association Parties") shall be liable to any Member for any damage, loss, or prejudice suffered or claimed <br />8 <br />4864-8276-8240, v. 14 <br />
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