|Under the condominium documents, the Board of Directors of the Lakewood Park Condominium Association, Inc. has the responsibility and authority for the operation of the Association, management of the Condominium Property and for the establishment and enforcement of the Rules and Regulations. These documents include:
DECLARATION OF COVENANTS AND RESTRICTIONS
The DECLARATION OF COVENANTS AND RESTRICTIONS is the document or set of documents that establishes the formal regulations for all the property in the residential community. They restrict its use and govern the conduct and activity of its residents. The Declaration establishes the basic rights and responsibilities for each owner, resident and guest. The restriction and covenants grant easements and use rights to owners and guests, they provide services and privileges to residents of the community and they set the standards for maintenance and upkeep of the property.
ARTICLES OF INCORPORATION
The ARTICLES OF INCORPORATION formally establishes the entity responsible for the maintenance, management and operation of the community property and the common elements. The entity is the homeowners association. The articles of incorporation provide the framework for the association's organization, they define its membership and the voting rights of its members, and they create the officers and directors who will act on behalf of the organization.
The Articles of Incorporation of the association define its basic structure and its areas of responsibility. The BYLAWS establish the procedures for carrying out these responsibilities. They define the powers and the manner for exercising those powers for the board of directors and by each of the association's officers. The bylaws create committees and describe how rules and regulations can be made and amended. basically, the actual operation of the homeowners association is governed by the bylaws of the association.
Among the specifics found in the bylaws are the policies governing the use of proxies, the budget and finance procedures and the qualifications and eligibility requirements for the officers and directors. Agenda and notice requirements for both membership and directors meetings can be found in the bylaws as well as the dates for the annual and regular meetings. The bylaws may also set out the requirements for designating a voting representative when the property has multiple owners.
RULES AND REGULATIONS
The RULES AND REGULATIONS have been carefully prepared to provide all owners and residents with the procedures, policies and regulations designed to promote a comfortable and cordial living environment for all. If followed by each of us, they will enable the community to function smoothly and cooperatively.
A COPY OF THESE DOCUMENTS IS AVAILABLE IN CD FORM
TO ALL OWNERS FOR $10.00. PLEASE CONTACT THE
ASSOCIATION OFFICE TO REQUEST A COPY