Salem, City of- Intergovernmental Agreement

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6.3 Prohibition Apainst Mort~ges: Anything in the Declaration or Bylaws to the contrary notwithstanding, no Unit owner shall place or suffer to be placed upon the common elements any lien, mortgage, trust deed, contract, security interest or other hypothecation or interest of any kind without the unanimous consent of Unit owners. A Unit owner, however, shal( be entitled to grant a lien, mortgage, trust deed, contract, security interest or other hypothecation on any or a(I Units owned by such Unit owner, indirectly including the Unit owner's undivided interest in the common elements appertaining to such Units. 6.4 Transit Continuing Control. Anything in the Declaration or Bylaws to the contrary notwithstanding, no Unit owner (in its capacity as a Unit owner and exclusive of the exercise by a Unit owner of its police power in a manner generally applicable to the public), shall have the right to burden or interfere with the operation of the transit system by the Salem Area Mass Transit District in a manner reasonably consistent with usual and customary practices of transit system operations, or to burden, interfere with or prevent access to, or ingress to and egress from, any Unit held by the Salem Area Mass Transit District. The Unit owners acknowledge that the ownership interests of the Salem Area Mass Transit District have been acquired in part with federal funds provided to the Transit District by the Federal Transit Administration pursuant to a grant agreement under 49 USC §5301 et seq. The federal government retains a continuing interest in all structures, equipment and other facilities acquired or constructed with federal funds that may be located in or upon the property. If, for any reason, such structures, equipment or facilities are not used for transit purposes defined by the applicable law, regulations, grant agreements and FTA Master Agreement, for a period of at least 30 years from the date of this Declaration the Federal Transit Administration shall be entitled to reimbursement as provided under 49 CFR part 18 for its proportional share of the fair market value of such property funded by the Federal Transit Administration. otwit stan ing any provision o t e ec aration or t e y aws to t e contrary, this Section 6.4 may not be amended without the approval of the Salem Area Mass Transit District and the Federal Transit Administration, or the successors to their governmental authority. 7. BYLAWS: ASSOCIATION: MANAGEMENT 7.1 Adoption of B IY aws. In behalf of the Association, the Declarant hereby adopts the Bylaws attached hereto as Exh'ibit "A" to govern the administration of the Condominium. The Bylaws shall be effective upon the execution and recording of this Declaration. 7.2 Association of Unit Owners: Membershin. Pursuant to the authority granted in ORS Ch. 190, each owner of a Unit in the Condominium shall be a member of the Association, and membership therein shall be limited to Unit owners only. The Association of Unit Owners, which shall be organized upon the recording of the Declaration and Bylaws, shall serve as a means through which the Unit owners may take action with regard to the administration, management and operation of the Condominium. The Association of Unit Owners shall be an unincorporated association, subject in certain respects to Chapter 190 of the Oregon Revised Statutes, unless the Association, upon majority vote of its Board of Directors, chooses to incorporate under the nonprofit corporation laws of the State of Oregon. The Association shall operate under the name COURTHOUSE SQUARE CONDOMINIUM ASSOCIATION OF UNIT OWNERS. If the Association is subsequently incorporated, the name of the Association shall include the complete name of the Condominium and shall be as close to the present name as is possible. 7.3 Management: Board of Directors. The affairs of the Association shall be governed by a two (2) member Board of Directors as provided in the Bylaws. The Board of Directors shall elect officers consisting of a Chairman, Secretary and Treasurer. Pursuant to the provisions of the By(aws and the Oregon Condominium Act, the Board of Directors may adopt administrative Rules and Regulations governing details of the operation, maintenance and use of the Condominium property. The Board of Directors may contract with a professional manager or management firm to manage the affairs of the Association. The owners may designate any Unit owner to manage the Association. If so designated, such owner may use its own departments, personnel and equipment in carrying out such management, and shall be entitled to receive its out-of-pocket costs and to charge the Association a reasonable charge for providing services through or by its own departments, personnel and equipment. Condominium Declaration Page - 6 1211980125