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HomeMy WebLinkAboutRe-Plat Appl Sea Era SegundoAPPLICATION FOR PLAT REVIEW PD FEE: SO` O I DATE: J PRELIMINARY `�' -1G �-MELT FINAL PLAT PLAN NO. PROJECT NAME d;_ Alf PROJECT ADDRESS 0. LEGAL DESCRIPTION .,_li '4 /t % OWNER'S NAME ei PHONE NO. APPLICANT'S SIGNATURE PHONE NO. �10 7141-' PROJECT NAME: 'Seo- Zr0. S0.ncL5 (P_&_Z_REVIEW OF REPLAT/RESUD. OF LAND_ __ ORD. 1=84, SEC._ 547_.11)_ FIRST J LOTS . . . . . . . . . . . . . . . . . $ 25.00 PLUS $5 EACH ADDITIONAL LOTS AT S5 . . . . LOT, NOT TO . . . . . EXCEED $500; . . . . . . t TOTAL . . . . . . . . . . . . . . . . . . . PAID RECEIPT NO. _. _. _. DATED __x_L1 Lq 1A kSA,A9 i wIISI.W p. E>NN 6 DEEw �. IiCNELL `n. WATT O m weYa.>o xeeHr Y e>..iliz ioax o. ru+ovs¢s ioaoEvucLtlex, m DsvlD LNDNeNu uaA. uNeoei LAW OFFICES HEINMAN, HARRELL, GRAHAM, MITCHELL a WATTWOOD s PEUFes9OXA "SOC Trow .M .L R3HV Hx3 VOVAOp.W M HSOx JOXx J pnOOEO� JH. atlHp M. O'pR3HN iQHL �. .. ✓n. vlx a Hwe as etteHY ne ueH R C l n. }o..ieH uontl R cxvu OrtHOOHT A R VOHwx Ypowp n e'u¢ci V30QHL H. DVJOVHS July 9, 1992 James Morgan, Building Official City of Cape Canaveral 105 Polk Avenue, P.O. Box 326 Cape Canaveral, Florida 32920 DISTRIBUTION Mayor City Council City Mgr. City Atty. Pub. Works Dir. Buildin Otl. Finance Dl.' >tl¢a¢lrr 3sLexn,lnDHIDe a¢Hser f+o>) ma-wai rex (m>) ma->vse N¢LBBVHNH.errIAHIM 889pr fb>) xv-weo He% (pp>( 6>SOne PLIteSH HHPLY i0 NeHH3Tf ISLeN➢ RE: Sea Era Articles of Incorporation and Declaration of Restrictions and Protective Covenants Dear Jim: Following my review of the above referenced documents, which were submitted to me at the Planning and Zoning Meeting on the night Wednesday, July 8, 1992, I find that the documents are generally in order. However, note that Ordinance 503.03(b) Provides that the bylaws of the Association shall also be submitted to this office for review. No bylaws were submitted and, therefore, I suggest that the applicant be advised that approval of their plat is contingent upon submission- and approval of all homeowner association documents, including the bylaws. very truly yours, l` -n'— Kevin P. Markey KPM/cle 4-SEQ Erta =-Sandi 28SS Bf-ff -St", "Ya. 175 • B,ro(d , eolo" $0301 • - fPfw" S 5r. (SOO) 733-8554 May 27, 1992 Mr. James E. Morgan Building Official City of Cape Canaveral 105 Polk Avenue Cape Canaveral, FL 32920 ATTN: James E. Morgan yaad7P-oe'�i DISTRIBUTION M r City Council Cily M v. C111 All. Pub: Works it. fundi" - Oft. iinenm Dir. I, the undersigned, as authorized officer for and. -on behalf of Sea Era Sands Development Corporation, do hereby acknowledge that Richard I. Poenisch has authorization to execute correspondence and documents for and on behalf of Sea Era Sands Development Corporation as it pertains and relates to acknow- ledgments, applications, correspondence, curb cut permits and construction activities by and between the City of Cape Canaveral and Sea Era Sands for property located in Block 40, Avon -by -the -Sea Subdivision, City of Cape Canaveral, Brevard County, Florida. SEA ERA SANDS DEVELOPMENT RPOLRATION- _ 7 Y � N. A. 5,sietfisch. Jr. J City of Cape Canaveral 105 POLK AVENUE • P.O. BOX 326 CAPE CANAVERAL, FLORIDA 02920 TEL EPH ONE 407/783.1100 FAX 407/799-3170 May 7, 1992 R9r. Scott Spooner Briley, Wild & Associates, Inc. P. O. Box 607 Ormond Beach, FL 32074 RE: Re -plat for Sea Era Segundo Dear Scott: Enclosed, please find one (1) copy of the preliminary re -plat for the above referenced project for your review and approval. We request that you review the enclosed plan for compliance with City engineering standards. Please return one (1) copy red -lined depicting all comments to further expedite coordination through this office. This request is scheduled to be heard by the Planning & Zoning Board on May 13, 1992. Please address all relating correspondences to this office only. No copies shall be provided to architect/engineer/owner. Please provide an estimate of charges incurred for your review. Should you have any questions or desire additional information, please contact the Cape Canaveral Building Department, 105 Polk Avenue, P. O. Box 326, Cape Canaveral, Florida 32920 or telephone: (407)868-1222. JEM/sln enclosure Sincerely, Cll.. a . mes E. Morgan � Building Official PRINTED ON RECYCLED PAPER City of Cape Canaveral 105 POLK AVENUE' • P.O. SOK 326 CAPE CANAVERAL. FLONIOA 32920 TELEPHONE 007 )93-1100 April 8, 1992 Mr. Scott Spooner Briley, Wild & Associates, Inc. P. O. Box 607 Ormond Beach, FL 32074 RE: Preliminary Replat Review for Sea Era Segundo Dear Scott: Enclosed, please find two (2) copies of a preliminary replat for the above referenced project for your review and approval. We request that you review the enclosed plan for compliance with City engineering standards. Please return one (1) copy red -lined depicting all comments to further expedite coordination through this office. This request is scheduled to be heard by the Planning & Zoning Board on April 22, 1992. Please address all relating correspondences to this office only. No copies shall be provided to architect/engineer/owner. Please provide an estimate of charges incurred for your review. Should you have any questions or desire additional information, please contact the Cape Canaveral Building Department,. 105 Polk Avenue, P. O. Box 326, Cape Canaveral, Florida 32920 or telephone: (407)868-1222. JEM/sln enclosures Sincerely, ames E.'Morgan Building Officia THE CRY OF CAPE C VERA_ SUPPORTS HEMUNO PRINTED ON RECYCLED PMER 52,�o.363- ara0 DISTRIBUTION Ma or City Council BRILEY WILD Cily Mgr. AND ASSOCIATES Pub. Wa ks Dir. Building off. ✓ Finance on. May 26, 1992 CC 92022-9CE Mr. James E. Morgan Building Official City of Cape Canaveral 105 Polk Avenue Cape Canaveral, Florida 32920 Re: Preliminary Replat Review: "Sea Era Segundo' Dated May 7, 1992 Dear Jim: Based upon our recent review of the referenced project, the comment made in our letter of April 16, 1992 has been satisfactorily addressed. No further review of the replat is required. Sincerely, BRILEY, WILD & ASSOCIATES, INC. CONSULTING ENGINEERS & PLANNERS Scott R. Spoone , P Assistmt Direr Engvttxring SRS/dma ExelecHM BHIW. wild and Aecnuiasee, Inc. Comulting Engineers and Planners 1040 North U.S. Highway One PO Bax 607 Omood Beech. FL 32175 904/672-5660 • FA% 904/673-8264 sands in Brnec, oc. CyGne 9eaM, P 9 O Banca. R BY-LAWS ARTICLE I IDENTITY These are the By -Laws of SEA ERA HOMEOWNERS ASSOCIATION, INC. a Florida Not -For Profit Corporation, hereinafter referred to as the ("Association"). ARTICLE II PURPOSES This Association has been organized for the purpose of being a homeowners association for the purpose of operating, hoverning adnimistering and managing the property and affairs of SEA ERA HOMEOWNERS ASSOCIATION, INC. (the "Homeowners"), and to exercise all powers granted to it as a corporation under the laws of the State of Florida, these By -Laws, the Articles of Incorporation, and the Deed Restrictions. ARTICLE III DIRECTORS AND OFFICERS A. Directors 1. The affairs of the Association shall be managed by a Board of Directors composed of three (3) persons. The members of the first Board of Directors are designated in the Articles of Incorporation and need not be members of the Association. They shall serve until five (58) percent of the units in the Homeowners are sold, at which time one (1) of them shall be replaced by a Director elected by the unit owners other than the Developer. Unit owners other than the Developer shall be entitled to elect two (2) directors either three (3) months after thirty (308) percent of the units have been sold; three (3) years after twenty (208) percent of the units have been sold; or when all of the units have been completed, some of them have been conveyed to purchasers and none of the units are being offered for sale by the Developer in the ordinary course of business, whichever shall be the first to occur. The Developer shall be entitled to elect at least one (1) director as long as the Developer holds for sale in the ordinary course of business at least threes (38) percent of the units in the Homeowners. Until such time as the unit owners other than the Developer shall be entitled to elect all of the Directors, Developer shall have the absolute right, in its absolute discretion and at any time, to remove any Director selected by the Developer and to replace the Director so discharged. 2. Direstors shall be elected by the members at the annual meeting of members and shall hold office until the next annual meeting and until thier successors are elected and shall qualify. 3. At least fourteen (14) days before each annual meeting of members, a complete list of members entitled to vote at such election, together with the addresses of each, shall be prepared by the Secretary. Such lists shall be maintained at the office of the Association for fourteen (14) days prior to the annual meeting of members, for the examination of every member of the Association and shall be produced and kept at the time and place of the annual meeting of members, subject to the inspection rights of any member who may be present. At the first annual meeting of the members, Directors shall be elected for a term of one (1) year. 4. Directors, other than the initial Board of Directors, shall be elected as follows: a. Nominations shall be from the floor at the annual membership meeting, and a vote shall be had by written, secret ballot. The election of each Director shall be had by written, secret ballot. The election of each Director shall require a plurality of the votes of those members voting, either in person or by proxy, at the election. All of the Directors shall be elected at the same meeting. b. Directors shall be members of the Association, except that this provision shall not apply to the persons designated to be the first Board of Directors by Article VI of the Articles of Incorporation. B. Officers The Officers of the Association shall consist of a President, a Vice President, a Secretary, and a Treasurer, any of whom may be members of the Board of Directors, and such other Officers as the Board of Directors may appoint. The President must be a member of the Board of Directors. The Officers named in the Articles of Incorporation shall serve, unless removed and replaced by the Developer, until the first meeting of the Board of Directors held subsequent to the first annual meeting of members, and at such meeting the Board of Directors shall elect the aforesaid Officers. Officers elected at the first meeting of the Board of Directors held subsequent to the first annual meeting of members, shall hold office until the next and ensuing annual meeting of the Board of Directors and until their successors shall have been elected and shall qualify. C. Resignation, Vacancy, Removal, Compensation 1. Any Director or Officer of the Association may resign at any time, by instrument in writing. Resignations shall take effect at the time specified therein, and if no time is specified, at the time of receipt by the President or Secretary of the Association. The acceptance of a resignation shall not be necessary to make it effective. A resignation shall be deemed to have occurred upon termination by the Director or Officer of membership in the Association. 2. Subject to the right of the Developer to replace Directors selected by the Developer, when a vacancy occurs on the Board of Directors, the vacancy shall be filled by the remaining members of the Board of Directors at their next meeting, by electing a person who shall serve until the next annual meeting of the members. when a vacancy occurs in an office for any cause before an Officer's term has expired, the office shall be filled by the Board of Directors at its next meeting by electing a person to serve for the unexpired term. 3. Any Director may be recalled and removed from office, with or without cause, pursuant to the provisions of Section 718.112(2)(8) of the Act, except that the Directors elected by the Developer shall not be affected by this provision. 4. Upon an affirmative vote of a majority of the members of the Board of Directors, any Officer may be removed either with or without cause, and his successor elected at any regular meeting of the Board of Directors, or at any special meeting called for such purpose. 5. No compensation shall be paid to Directors or Officers for their services as Directors or Officers. ARTICLE IV 1S�7:IAF;7'tsI:I�71IfyiFi:FY�7�7:iNfR'�'I�ZNi:V�i� � : � ,�. 7�T:i�FF]�Y;i:IT:I�l9 The Association shall have all powers granted to it by law, the Deed Restrictions to which these By -Laws are attached, and the Articles of Incorporation, all of which powers shall be exercised by its Board of Directors unless the exercise thereof is otherwise restricted by the Deed Restrictions, these By -Laws, or by law; and the aforementioned powers of the Association shall include, but shall not be limited to, the following: A. All of the powers specifically provided for in the Deed Restrictions. B. The power to levy and collect assessments, based on a budget formally adopted by the Board of Directors. It is understood, however, that the failure of the Board of Directors or the members of the Association to adopt a budget shall not impair or affect the members' obligations to pay their share of the common expenses of the Homeowners. C. The power to acquire, operate, lease, manage and otherwise trade and deal with property, real and personal, including units in the Homeowners, as may be necessary or convenient in the operation and management of the Homeowners and in accomplishing the purposes set forth in the Deed Restrictions. D. The power to expend monies collected for the purpose of paying the common expenses of the Association. E. The power to purchase equipment, supplies, and material required in the maintenance, repair, replacement, operation, and management of the common elements. P. The power to insure and keep insured the buildings and improvements of the Homeowners as provided for and limited by the Deed Restrictions. G. The power to employ the personnel required for the operation of the common elements and the Association. H. The power to contract for the management of the Homeowners. I. The power to make reasonable rules and regulations and to amend them from time to time, and to see that all members are notified of such changes in the rules and regulations as may be enacted.nt of the Homeowners. J. The power to improve the Homeowners property, subject to the limitations of the Deed Restrictions. K. The power to enforce by any legal means the provisions of the Articles of Incorporation, the By -Laws, the Deed Restrictions, and the Rules and Regulations duly promulgated by the Association. L. The power to collect delinquent assessments by suits or otherwise, and to abate nuisance and enjoin or seek damages from unit owners for violation of the provisions of the Deed Restrictions and its Exhibits. M. The power to pay all taxes and assessments which are liens against the common elements, and to assess the same against the members and their units. N. The power to deal with and approve or disapprove all conveyances or leases of condominium units as provided for under the Deed Restrictions. No fee shall be charged in connection with a transfer, lease or sale or approval in excess of the expenditures reasonably required for the transfer, lease or sale, and this expense shall not exceed $50.00. No charge shall be imposed in connection with an extension or renewal or lease. 0. The power to select depositories for the Association funds, and to determine the manner of receiving, depositing and disbursing Association Funds, and the form of check and the person or persons by whom the same shall be signed, when not signed as otherwise provided by these By -Laws. P. The power to possess, enjoin, and exercise all powers necessary to implement, enforce and carry onto effect the powers above described, including the power to acquire, hold, mortgage, convey and deal in real and personal property. Q. The power to enter into, ratify, modify and amend each and every of the agreements and undertakings contemplated by and contained within the Deed Restrictions to which these By -Laws are attached. R. The power to subscribe to and enter into a contract with any person, firm, corporation or real estate management agent of any nature or kind to provide for the maintenance, operation, repair and upkeep of the Homeowners property. Said contract may provide that the total operation of said managing agent, firm, or corporation shall be at the cost of the Association. Said contract may further provide that the managing agent shall be paid from time to time a reasonable fee, either stated as a fixed fee or as a percentage of the total cost of maintenance, operation, repair and upkeep, or of the total funds of the Association handled and managed by the managing agent. ARTICLE V DUTIES OF OFFICERS A. The President shall: 1. Act as Presiding Officer at all meetings of the membership of the Association and of the Board of Directors. 2. Call special meetings of the Board of Directors and of members. 3. Sign all checks, contracts, promissory notes, deeds, and other instruments on behalf of the Association, except those which the Board of Directors specifies may be signed by other persons. 4. Perform all acts and duties usually required of an executive to insure that all orders and resolutions of the Board of Directors are carried out. 5. Appoint committees and be an ex -officio member of all committees, and render an annual report at the annual meeting of members. B. The Vice President shall: 1. Act as Presiding Officer at all meetings of the membership of the Association and of the Board of Directors when the President is absent. 2. Perform all other acts and duties required of the President, in the absence of the President. 3. Perform such other duties as may be required by the Board. 4. Sign checks on behalf of the Association in the absence of the President. C. Should the President and Vice President be absent from any meeting, the remaining Directors shall select a person to act as chairman of the meeting. D. The Secretary shall: 1. Attend all regular and special meetings of the members of the Association and of the Board of Directors and keep all records and minutes of proceedings thereof or cause the same to be done. 2. Have custody of the corporate seal and affix same when necessary or required. 3. Attend to all correspondence on behalf of the Board of Directors, prepare and serve notice of meetings, keep membership books and receive all applications for membership, for transfer and lease of units, and present such applications to the Board of Directors for consideration. 4. Perform such other duties as the Board may determine and on all occasions in the execution of his duties, act under the supervision, control and direction of the Board of Directors. 5. Have custody of the minute book of the meetings of the Board of Directors and of the members, which minute book shall at all reasonable times be available at the office of the Association for inspection by members, or their authorized representatives, and by the Directors, as act as transfer agent to record transfers and rules and regulations in the corporate books. The minutes of all meetings of the Board of Directors and of the members shall be retained by the Secretary for a period of not less than seven (7) years. E. The Treasurer shall: 1. Receive such monies as shall be paid into his hands for the accounts of the Association and disburse funds as may be ordered by the Board, taking proper vouchers for such disbursements, and be custodian of all securities, contracts, leases, and other important documents of the Association which he shall keep safely deposited. 2. Supervise the keeping of accounts of all financial transactions of the Association in books belonging to the Association, and deliver such books to his successor. He shall prepare and distribute to all of the members of the Board of Directors, at least ten (10) days prior to each annual meeting of the Board of Directors, and whenever else required, a summary of the financial transactions and condition of the Association for the preceding year. He shall make a full and accurate report of the matters and business pertaining to his office to the members at the annual meeting of members and make all reports required by law. 3. The Treasurer may have the assistance of an accountant or auditor, who shall be employed by the Board of Directors. In the event the Association enters into a management agreement, it shall be proper to delegate such of the Treasurer functions to the management agent as is deemed appropriate by the Board of Directors. 4. Budgetary meetings: The Board of directors shall mail a meeting notice and copies of the proposed annual budget to the members not less than thirty (30) days prior to the meeting of the Board of Directors at which the budget will be considered. The members shall be given written notice of the time and place of the meeting of the Board of Directors at which the budget will be considered and such meetings will be open to members. If an adopted budget requires assessment against the members in any fiscal or calendar year exceeding 1158 of the assessments for the preceding year, the Board of Directors, upon written application of ten (108) percent of the members to the Board of Directors, shall call a special meeting of the members within thirty (30) days, upon not less than ten (10) days written notice to each member. At the special meeting, members may consider and enact a budget by a majority vote of all members. In determining whether assessments exceed 1158 of similar assessments for prior years, any authorized provisions for reasonable reserves for repair or replacement of the Homeowners property, anticipated expenses by the Association which are not anticipated to be incurred on a regular or annual basis, or assessments for betterments to the Homeowners property shall be excluded from the computation. 5. Quorum: The presence, either in person or by proxy, or one-third (1/3) of the members of record of the Association shall be requisite for, and shall constitute a quorum for, the transaction of business at all meetings of members. 6. Adjourned meetings: If any meetings of members cannot be organized because a quorum has not attended, the members who are present, either in person or by proxy, may, except as otherwise provided for by law, adjourn the meeting to a time not less than 98 hours from the time the original meeting was called. 7. Voting: At every meeting of the members, each member present, either in person or by proxy, shall have the right to cast one vote on each question. The vote of the majority of those present, in person or by proxy, shall decide any question brought before such meeting, unless the question is one upon which, by express provision of statute or of the Deed Restrictions a different vote is required, in which case such express provision shall govern and control. 8. Proxies: A member may appoint a proxy. Any proxy must be filed with the Secretary before the appointed time of each meeting and such proxy shall be valid only for the particular meeting designated in the proxy and any lawfully adjourned meetings thereof. In no event shall such proxy be valid for a period longer than ninety (90) days after the date of the first meeting for which it was given and every proxy shall be revocable, at any time, at the pleasure of the member exercising it. 9. Waiver and consent: Nothing herein shall be construed to prevent a member from waiving notice of a meeting or acting by written agreement without a meeting, and such waiver and action by written agreement are hereby expressly permitted. B. Meetings of Directors: 1. Organizational meeting: The first meeting of a newly elected Board of Directors shall be held within ten (10) days of election at such places as shall be fixed by the Directors at the meeting at which such Directors were elected, and no notice shall be necessary to the newly elected Directors in order to legally constitute such meeting, provided a majority of the whole Board of Directors shall be present. 2. Annual meetings: There shall be an annual meeting of the Board of Directors immediately prior to the annual meeting of the members, at the offices of the Association. 3. Regular meetings: The Board of Directors may establish a schedule of regular meetings to be held at such place as the directors may designate, in which event no notice need be sent to the Directors once said schedule has been adopted. 4. Special meetings: Special meetings of the board of Directors may be called by the President, on three (3) days' notice to each Director, given personally or by mail, telephone or telegraph, which notice shall state the time, place and purpose of the meeting. Special meetings of the Board of directors shall be called by the President or Secretary in like manner and on like notice upon the written request of at least two-thirds of the Board of Directors. 5. Notice to members: All meetings of the board of directors shall be open to members. Notice of the time and purpose of all meetings of the Board of Directors shall be conspicuously posted at the Homeowners property at least 48 hours prior to each meeting, except in cases of emergency. 6. Waiver of Notice: Before or at any meeting of the Board of directors, any Director may, in writing, waive notice of such meeting and such waiver shall be deemed equivalent to the giving of such notice. Attendance by a Director at any meeting of the Board of Directors shall be deemed a waiver of notice by him at the time and place thereof. 7. Quorum: At all meetings of the Board of Directors, a majority of the Directors shall constitute a quorum for the transaction of business, and the acts of the majority of the Directors present at a meeting at which a quorum is present shall be the acts of the Board of Directors. If, at any meeting of the Board of Directors, there be less than a quorum, the majority of those present may adjourn the meeting from time to time. At any such adjourned meeting, any business which might have been transacted at the meeting as originally called may be transacted without further notice. ARTICLE VIII PROCEDURE A. Roberts Rules of Order (latest edition) shall govern the conduct of corporate proceedings when not in conflict with the Deed Restrictions, the Articles of Incorporation, the By -Laws of the Association or with applicable Florida Law. B. The order of business at annual member's meetings and as far as practical at other members' meetings will be: 1. Election of Chairman; Roll Call; Proof of Notice of meeting; or Waiver of Notice; 4. Reading of Minutes of Prior Meeting; 5. Officers' Reports; 6. Committee Reports; 7. Election of Inspectors of Election; 8. Elections; 9. Unfinished Business; 10. New Business; and Adjournment. ARTICLE IX ASSESSMENTS AND MANNER OF COLLECTION A. The Board of Directors has the sole power to and shall from time to time fix and determine the amounts necessary to pay the common expenses include those expenses described in the Deed Restrictions and any other expenses designated as common expenses by the Board of Directors, under the authority and sanction of the Deed Restrictions. B. The Board shall adopt a budget for the Association and Homeowners during the month preceding the fiscal year wherein the budget will take effect, which budget shall include a schedule of assessments to be paid by the members. Each member shall be responsible for the payment of the assessments imposed against his unit in an amount equal to the percentage of responsibility for payment of common expenses provided in the Deed Restrictions. C. Regular assessments shall be paid by the members on a monthly basis, payable on the first day of each and every month. D. Special assessments should they be required by the Board of directors, shall be levied and paid in the same manner as regular assessments, unless the Deed Restrictions shall otherwise provide. E. When the Board of Directors has determined the amount of any assessments, the Secretary shall transmit a statement of such assessment to each member. Until further notice, assessments shall be made payable to the Association. Assessments are necessarily made upon projections and estimates of the Board of Directors, and may be in excess of, or less than the sums required to meet the cash requirements of the Homeowners and the Association, in which event the Board of Directors may increase or diminish the amount of an assessment of each member of his proportionate share for any deficiency. Notice of all changes in assessments shall be given to all members. F. Assessments shall not include charges for utilities separately charged and metered to each unit, nor charges for alterations, repairs, maintenance, improvements, or decorating within the interior of any unit. G. Assessments not paid with ten (10) days from the date due shall bear interest from the date when due until paid at the rate of fifteen (1580 percent per annum. Additionally, the failure to pay any assessment within ten (10) days from the dater due shall entitle the Association to levy a Twenty-five ($25.00) Dollar late charge against the defaulting member. H. In the event an assessment is not paid within ten (10) days of the date same shall be due and payable, the association, through the board of directors, may proceed to enforce and collect said assessments from the delinquent member in any manner provided for by the Act, the Deed Restrictions and these By -Laws. Each member shall be individually responsible for the payment of assessments against his unit and for the payment of reasonable attorneys' fees and costs incurred by the Association in the collection of sums due and the enforcement of any lien held by the Association. I. If the proposed annual budget is not adopted prior to the start of the new fiscal year, and assessment shall be presumed to be made in the amount or the last prior assessment and monthly installments on such assessments shall be due upon each installment payment date until changed by an amended assessment. ARTICLE X FISCAL MATTERS A. Fiscal year: The fiscal year of the Association shall begin in January of each year, provided, however, that the Board of Directors shall be authorized to change to a different fiscal year, in accordance with the provisions of the Internal Revenue Code of the United States of America, at such time as the Board of Directors, and shall deem it advisable. B. Depositories: The funds of the Association shall be deposited in a savings and loan association or bank or banks in County, Florida, in an account for the Association under resolutions duly approved by the board of Directors, and shall be withdrawn only over the signature of the authorized officers. Said funds shall be used only for Association purposes. C. Fidelity Bonds: Fidelity bonds shall be required for all directors, Officers and employees of the Association, handling or responsible for Association funds. The premium for such bonds shall be paid for by the association. D. Records: The Association shall maintain accounting records according to good accounting practice, which records shall be open to inspection by members at reasonable times. Such records shall include a record of receipts and expenditures for each member which shall designate the name and address of the member, the amount of each assessment, the amounts paid upon the account, and the balance due, in a register of named for the benefit of any mortgage holders or lien holders who have notified the Association of their liens, and to which lien holders the Association will give notice of default, if requested. E. Annual report: an audit of the accounts of the association shall be made annually be an auditor, accountant or certified Public Accountant and a copy of the report of such audit shall be furnished to each member no later than the first day of April following the fiscal year for which the report is made. The report shall be deemed to be furnished to the member upon its delivery or by mailing to the member at his last known address as shown on the books and records of the Association. F. Insurance: The Association shall procure, maintain and keep in full force and effect, all insurance required by the Deed Restrictions pursuant to the provisions of the Deed Restrictions. ARTICLE XI ADMINISTRATIVE RULES AND REGULATIONS The Board of Directors may, from time to time, adopt rules and regulations governing the details of the operation and use of the common elements, and such other rules and restrictions as are designed to prevent unreasonable interference with the use of the units, limited common elements and common elements by the members and all members shall abide thereby, provided that said rules and regulations shall be equally applicable to all members and uniform in their application and effect. ARTICLE XII VIOLATIONS AND DEFAULTS In the event of a violation, other than nonpayment of an assessment by a member, of any of the provisions of the Deed Restrictions, these By -Laws, the Rules and Regulations of the Association, the Articles of Incorporastion or any provision of the Act, the Association, after reasonable notice to cure not to exceed ten (10) days, shall have all rights and remedies provided by law, including without limitation (and such remedies shall or may be cumulative) the right to sue for damages, the right to seek injunctive relief, and in the event of the failure to pay assessments, the right to foreclose its lien provided in the Act and in every such proceeding, the member at fault shall be liable for court costs and the Association's reasonable attorney's fees. If the Association elects to enforce its lien by foreclosure, the member shall be required to pay as reasonable rent for his condominium unit during litigation and the Association shall be entitled to the appointment of a receiver to collect such rent. A suit to collect unpaid assessments may be prosecuted by the Association without waiving the lien securing such unpaid assessments. ARTICLE XIII AMENDMENT OF BY-LAWS Subject always to the provisions of the Declaration of condominium, these By -Laws may be amended, modified or rescinded in accordance with the Deed Restrictions or by a resolution duly adopted by a majority of the Board of Directors at any duly called meeting of the Board of Directors, and thereafter submitted to the members at any duly convened meeting of the members and approved by a 75% vote of the members present in person or by proxy, provided there is a quorum, and further provided that notice of the proposed amendment is given in the notice of the meeting, and further provided that the voting requirements of the Deed Restrictions are met in full, in the appropriate cases. Notice of the meeting may be waived in writing by any member. Amendments to these By -Laws may be proposed by the Board of Directors, acting upon the vote of a majority of the Directors, or proposed by members of the Association having a majority of the votes in the Association. No amendment shall discriminate against any unit owner nor any class or group of unit owners unless the unit owners so affected shall consent. no amendment shall be made that is in conflict with the Articles of Incorporation or the Declaration of condominium. No amendment which affects the Developer may be adopted or become effective without the prior written consent of the Developer. No amendment which affects the rights of mortgagees may be adopted or become effective without the prior written consent of the Institutional mortgagee having the highest dollar value of mortgages encumbering units in the Homeowners. No By -Law shall be revised or amended by reference to its title or number only. Proposals to amend existing By -Laws shall contain the full text of the By -Laws to be amended; new words shall be inserted in the text and underlined and words to be deleted shall be lined through with hyphens. However, if the proposed change is so extensive that this procedure would hinder, rather than assist, the understanding of the proposed amendment, it is not necessary to use underlining and hyphens as indicators of words added or deleted, but, instead, a notation must be inserted immediately preceding the proposed amendment in substantially the following language: "Substantial re -wording of By -Law. See By -Law Article for present text." Non- material errors or omissionsin the By -Law process shall not invalidate an otherwise properly promulgated amendment. A copy of each amendment shall be attached to a certificate certifying that the amendment was duly adopted as an amendment of the By -Laws, which certificate shall be executed by the Officers of the Association with the formalities of a deed. The amendment shall be effective when such certificate and a copy of the amendment are recorded in the Public Records of Brevard County, Florida. ARTICLE XIV VALIDITY If any portion of the By -Laws shall be adjudged invalid, such fact shall not effect the validity of any other By -Law. The foregoing was adopted as the By -Laws of SEA ERA HOMEOWNERS ASSOCIATION INC, a not -for profit Florida corporation, at a meeting of the members of said Association duly noticed, at which all members were present, by the unanimous vote of the members on the day of , 1992. President Secretary