Cedars I Homeowners ’ Association

1. Cedars I Homeowners’ Association 1stAnnual Meeting March 4, 2012 Carol Opatrny TJ Klise

2. Cedars I HOA Annual Meeting Agenda • Recap Organizing Meeting • Overview of CCRs • Articles of Incorporation • Bylaws • Governance Structure • Next Steps

3. Cedars I HOA Objectives • Reactivate the Cedars I HOA • Governance structure • Management of the CC&R’s • Maintenance of common areas • Enhance & maintain property values • Minimal structure

4. Cedars I HOA Why have an HOA? • Preserve the key reasons we bought here • Develop streamlined CC&R’s & manage to those • Grandfather in current settings • Protect property owner investment • Enhance property owner value • Maintain our unique neighborhood • Bring the neighborhood together around common goals & values

5. Cedars I HOA What’s in it for Me? • Protect My neighborhood property standards • Provide for My common area maintenance • Protect My property values • Maintaining standards • Compliance • Neighbors helping neighbors • Just enough structure to manage to the CC&R’s and maintain our way of life we all enjoy

6. Cedars I HOA Covenants, Conditions and, Restrictions (CCRs) • Filed with Clark County, 1973. • Binds all Lots in Cedars I; Towne Homes are considered Lots. • Establishes rights to common areas. • Establishes the Association. • Establishes Annual Maintenance Assessment; $100/Lot. • Allows for “special assessments” by 2/3 vote. • Establishes “use restrictions” for land, dwelling, etc. and architectural committee. • Amendments requires vote of 75% of Lot owners.

7. Cedars I HOA Articles of Incorporation • Modeled after Cedars East HOA. • Filed with State of Washington, Dec. 30, 2011. • Purposes include: maintenance, preservation and architectural control of residence Lots and common area; and, to promote health, safety and welfare of the residents. • One vote/Lot. • Initial Board of Directors: Patrick Kennedy; TJ Klise; Larry Madson; Ed Menteer; and, Carol Opatrny. • First annual meeting: elect the Board of Directors pursuant to the Bylaws.

8. Cedars I HOA Bylaws • Meeting of Members (annual and special meetings; at least 15 day notice, quorum (1/3), proxies, etc.). • Board of Directors (power; term; removal; no compensation; actions may be taken w/o meeting). • Nomination and Election of Directors • Nominating committee (established: 12/27/2011). • Election of Board of Directors to occur at first Annual Meeting. • Meetings • Regular meetings every four months. • Special meetings with three days’ notice. • Majority quorum. • Powers of Board of Directors • Adopt and publish rules/regulations governing use of common areas. • Enforce payment of assessments. • Exercise for the Association provisions of Bylaws, Articles and CCRs. • Declare a vacancy, if three, consecutive absences. • Employ a manager or contractor, if necessary.

9. Cedars I HOA Bylaws (continued) • Board of Director Duties • Complete record of meetings, actions. • Supervise, if applicable. • Fix and notice annual assessment; take action if not paid within 30 days after due date. • Maintain liability and hazard insurance on common property. • Maintain insurance for officers. • Maintain common areas.

10. Cedars I HOA Governance Structure • Officer Duties • Election at the first Board of Directors’ meeting. • President, VP, Secretary, Treasurer and others, as needed. The offices of Secretary and Treasurer may be combined. • Term: 1 year • Committees appointed as needed. • Assessments are an obligation of each member. • Amendments by a majority of a quorum present or by proxy (quorum: 1/3 of members present).

11. Cedars I HOA Next Steps • Appointment Board of Directors • Nomination and Election of Officers • Annual Assessment collections • Maintenance of Common Areas • Establish Budget • Neighborhood Priorities