Fairway Ridge Property Owner's Association
A Mountain Aire Community
West Jefferson, NC
 

FAIRWAY  RIDGE WATER ASSOCIATION BY-LAWS

 

FILED   Aug 20, 2018

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02:35:51 pm

 

ASHE COUNTY NC DEAETT R. ROTEN REGISTER OF DEEDS

 

 

FAIRWAY RIDGE WATER ASSOCIATION BY-LAWS

ARTICLE I

 

Section 1.

 

The provisions of these By-Laws are applicable to the property served by Fairway Ridge Water Association, which is known as Fairway Ridge, Heathstone Townhomes and future additions.  The properties are located at Mountain Aire Golf Course in Old Fields Township in Ashe County, North Carolina.

 

Section 2.

 

The term "property" as hereinafter used shall include the land, wells, buildings, water storage tank, other water system components, and all other improvements thereon owned in fee simple absolute, and all other easements, rights and appurtenances belonging thereto, as may be designated by Fairway Ridge Water Association.

 

Section 3.

 

All present and future owners, lessees and occupants of dwellings and their employees, and any other persons who may use the facilities of the property in any manner are subject to these By-Laws and Rules and Regulations made pursuant hereto and any amendment to these By-Laws upon the same being passed and duly set forth in an amended declaration, duly recorded.

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The acceptance of a deed of conveyance or the entering into of a lease or the act of occupancy of a dwelling shall constitute an agreement that these By-Laws and any Rules and Regulations made pursuant hereto, including any Restrictive Covenants and Restrictions Agreement affecting the subject property are accepted, ratified, and will be complied with.

 

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ARTICLE II

 

Section 1.

All meetings of Fairway Ridge Water Association (hereinafter referred to as "Association") shall be held at such place within the State of North Carolina, as shall be designated in a notice of the meeting.

 

Section 2.

 

An annual meeting of the Association members shall be held at 9:00 o'clock a.m., on the first Saturday of August of each year, for the purpose of electing members of the Board of Directors and for the transaction of such other business as may be properly brought before the meeting.

 

Section 3.

 

If the annual meeting shall not be held on the day designated by the by-laws, a substitute annual meeting may be called in accordance with the provisions of Section 4 of this Article. A meeting so called shall be designated and treated for all purposes as the annual meeting.

 

Section 4.

 

Special meetings of the Association members may be called at any time by the Board of Directors or by a petition signed by a majority of the members of the Association.

 

Section 5.

 

Written or printed notice stating the place, day and hour of the meeting shall be delivered personally, electronically or mailed not less than ten (10) days nor more than fifty (50) days before the date thereof, either personally, electronically or by mail at the direction of the Board of Directors or Association members, calling the meeting, to each person entitled to vote at such meeting.

 

In the case of an annual meeting, the notice of meeting need not specifically state the business to be transacted.  In the case of a special meeting the notice of meeting shall specifically state the purposes for which the meeting is called.

 

Section 6.

 

The presence in person or by proxy at any meeting of the voting members (as defined in Section 7 of this Article) constituting at least 25 percent of the Association members shall constitute a quorum.  Unless otherwise specifically provided herein, any action may be taken at any meeting of the Association at which a quorum is present upon the affirmative vote of the voting members constituting a quorum at such meeting.

 

The voting members at a meeting at which a quorum is present may continue to do business until adjournment; notwithstanding the withdrawal of enough voting members to leave less than a quorum.

 

Section 7.

 

All property owners shall be eligible for membership in the Association.  All persons purchasing property within the subdivision subsequent to the ratification of these By-Laws shall be members of the Association.  There shall be one person with respect to each lot ownership who shall be entitled to vote at any meeting of the Association members.  Such person shall be known and hereafter referred to as a "voting member". Such voting member may be the owner or one of the groups composed of all of the owners of a lot within the subdivision.

 

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ARTICLE III

 

Section 1.

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There shall be five (5) voting Directors of the Association to be elected by the Association members at their annual meeting.  The Board of Directors shall be composed of property owners who are voting members of this Association, one of whom shall serve as Chairman of the Board of Directors. Each Director shall hold office for a period of one (1) year or until his or her death, resignation, retirement, removal, disqualification, or until his or her successor is elected and qualified. In the event that an Association member is a corporation, partnership, trust or other legal entity other than a natural person or persons, then any officer or director of such corporation, partnership or manager of

such other legal entity, shall be eligible to serve as a member of the Board.

 

Section 2.

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A vacancy occurring in the Board of Directors, including Directorships not filled by the Association members, may be filled by the remaining Directors, or by the sole remaining Directors. Voting members may elect a Director at any time to fill any vacancy not filled by the Directors.

 

Section 3.

 

The Board of Directors shall receive no compensation for their services.

 

Section 4.

 

The Board of Directors shall have the powers and duties necessary for the administration of the affairs of the Association.  Such powers and duties shall include, but shall not be limited to, the following:

   (a)       Care, upkeep and maintenance of the  water system and its rights of way.

   (b)       Determination of the common expenses required for the affairs of the Association.

   (c)       Collection of the common charges from the Association members.

   (d)       Employment and dismissal of the personnel necessary for the maintenance and upkeep of the water system.

   (e)     The adoption and amendment of such reasonable rules and regulations as it may deem advisable for the maintenance, conservation, and upkeep of the water system. Written notice of such rules and regulations shall be given to all owners and occupants and the entire water system shall, at all times, be operated and maintained subject to such rules and regulations.

 

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ARTICLE IV

 

Section 1.

 

A regular meeting of the Board of Directors shall be held at a time and place as determined by the Chairman of the Board or by any two Directors.

 

Section 2.

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The Chairman shall, when present, preside at all meetings of the Board of Directors. The Secretary shall keep accurate records of the acts and proceedings of all meetings of Association members and Directors. The minutes and records of both Association members and Board shall be by the assigned Officer of the Association and shall be available for examination by all the Association members, their duly authorized agents or attorneys at convenient days and hours.

 

Section 3.

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Special meetings of the Board of Directors may be called by or with the request of the Chairman or by any two Directors.

 

Section 4.

 

A majority of the numbers of Directors fixed by these By-Laws shall be required for and shall constitute a quorum for the transaction of business at any meeting of the Board of Directors.

 

Section 5.

 

Except as otherwise provided in this section, the act of the majority of the Directors present at a meeting at which a quorum is present shall be the act of the Board of Directors. The vote of a majority of the Directors then holding office shall be required to adopt, amend or repeal a By-law, provided that no modification of or amendment to the By-Laws shall be effective unless approved by Fairway Ridge Water Association.

 

Section 6.

 

Each meeting of the Board of Directors shall be presided over by the Chairman, and in the absence of the Chairman, by any person selected to preside by vote of the majority of the Directors present.  The Secretary, or in his or her absence, any person designated by the Chairman of the meeting, shall act as Secretary of the meeting.

 

Section 7.

 

Action taken by a majority of the Directors without a meeting is nevertheless Board action if written consent to the action in question is signed by all of the Directors and filed with the minutes of the proceedings of the Board, whether done before or after the action so taken.

 

Section 8.

 

The Board shall keep minutes of its proceedings.

 

Section 9

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The members of the Board of Directors shall not be liable for the Association members for any mistake of judgment, negligence, or otherwise except for their own individual willful misconduct or bad faith. Every agreement made by the Board on behalf of the Association shall provide that the members of the Board of Directors are acting only as agents for the Association members and shall have no personal liability thereunder, except as property owners within the subdivision.

 

Section 10.

 

All meetings of the Board of Directors shall be open to Association members.

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ARTICLE V

 

Section 1.

 

The Board of Directors shall, from time to time, and at least annually, prepare a budget for the Association, determine the amount of common charges payable by the Association members to meet the common expenses of the Association, and allocate and assess such common charges among the Association members.  The common expenses shall include, among other things, the cost of maintenance, conservation and upkeep of the water system. The Board of Directors shall advise all Association members promptly, in writing, of the  amount of common charges payable by each of them respectively, and shall furnish copies of each budget, on which such common charges are based, to all Association members.

 

Section 2.

 

All Association members shall be obliged to pay the common charges assessed by the Board of Directors, pursuant to the provisions of Section 1 of this Article V, the same being due and payable on or before the 15st day of September of each year.

 

No Association member shall be liable for the payment of any part of the common charges assessed against his property subsequent to a sale, transfer or other conveyance by him of his property. A purchaser of such property shall be jointly liable with the seller for the payment of common charges assessed against such property prior to the acquisition by purchaser of such property without prejudice to the purchaser's right to recover from the seller the amounts paid by the purchaser therefore.

 

Section 3.

 

In the event of default in the payment of the common charges as determined by the Board of Directors, such defaulting member of the Association shall be obligated to pay a late fee charge of$25.00.  If past due by 90 days, the member will be assessed an additional charge of $50,00 and repeated each additional 90 days past due with a cap not to exceed the amount of the annual dues. The Board in its discretion may use legal means to collect dues and fees if warranted. All expenses, including attorneys' fees and court cost incurred by the Association in any proceeding brought to collect such unpaid common charges will also be assessed. Waiver of these charges will require the approval of a majority of the Board of Directors.

 

Section 4.

 

The violation of any rule or regulation adopted by the Board of Directors shall give the Board of Directors the right, in addition to any other rights set forth in these By-Laws, to enjoin, abate or remedy by appropriate legal proceedings, either at law or in equity, the continuance of any such breach.

 

Section 5.

 

The Board of Directors shall keep rules and regulations concerning the use of the common areas and facilities may be promulgated and amended by Fairway Ridge Water Association with the approval of two-thirds of the Association members.  A copy of such rules and regulations shall be furnished to each Association member prior to the time when the same shall become effective, and to all persons becoming property owners subsequent to the ratification of these By-Laws.

 

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ARTICLE VI

 

The Board of Directors shall keep the financial records and books of account of the Association.  The financial records and books of account shall be available for examination by the Association members, their duly authorized agents or attorneys at convenient hours on working days that shall be set and announced for general knowledge.

 

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ARTICLE VII

 

These By-Laws may be amended by a simple majority vote of the Members at a regular meeting or at a special meeting having been noticed to all members by First Class U. S. Mail at least 60 days prior to the special meeting. Proxies may be voted at such meetings.

 

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EFFECTIVE JULY 1, 2018

 

William B. Williams, President

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ATTEST:

Linda Greene, Secretary

 

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