Courthouse Square Agreements (compiled notebook)

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~ CONDOMINIUM ASSOCIATION OF UNIT OWNERS. If the Association i~ 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. I 8.3 Mana~ement; Board of Directors. The affairs of the Association sh 11 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 p visions of the Bylaws and the Oregon Condominium Act, the Board of Directors may adopt admi 'strative 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 man gement firm to manage the affairs of the Association. The owners may designate any Unit owne to manage the Association. If so designated, such owner may use its own departments, personnel nd equipment in carrying out such management, and shall be entitled to receive its out-of-poc t costs and to charge the Association a reasonable charge for providing services through r by its own apartments, personnel and equipment. ~ 8.4 Interim Board and Officers. The Declarant has reserved co trol over the administration of the Association by reserving the right in the Bylaws to appoint a t o(2) member interim Board of Directors to manage the Condominium until the turnover meeting The turnover meeting shall be held within sixty (60) days after recordation of this Declaratio . The two (2) members of the interim board shall also serve as the interim Chairman, Secretary an Treasurer. 8.5 Powers and Duties of the Association. The Association and the Bo ' d of Directors shall have the powers and duties granted to them by this Declaration, the Byl ws, and ORS 100.405(4), together with other provisions of the Oregon Condominium Act. 9. SERVICE OF PROCESS. The designated agent to receive service of p ocess in cases provided in ORS 100.50(1) is named in the Condominium Information Report whi h will be filed with the Secretary of State in accordance with ORS 100.250(1)(a). , 10. RIGHT OF FIRST REFUSAL. 10.1 Owner's Right of Refusal. No Unit Owner may sell a Unit except in compliance with this Section 10. Any attempted sale of a Unit not in compliance with this Sec ion 10 shall be void. Any Unit owner receiving a bona fide offer to sell a Unit to any party (in luding another Unit owner) shall notify all other owners of Units in the Condominium of the terms and conditions of such offer. If notice of such offer is received by the remaining Unit owners be ore January 31 in any year, such Unit owners shall have a right of first refusal to purchase such Unit upon the same terms and conditions as set forth in the bona fide offer, which right of first efusal shall be exercised, if at all, by the next succeeding July 31st. If notice of such offer is recei ed by the other Unit owners between January 31 and July 31 of any year, the remaining Uni owners shall exercise the right of first refusal, if at all, on or before July 31 of the year follo ing the year in which such notice is received. ~ 10.2 Prioritv of Ri~hts of Refusal. Any Unit owner wishing to sell a I nit subject to rights of refusal as set forth in Section 10.1 above shall send written notice o all terms and conditions of such bona fide offer to all other Unit owners. Any Unit owner wishi g to exercise a right of first refusal must do so by delivering written notice on or before the appli able July 31 st date as set forth in Section 10.1 above. , . I Page 7. Condominium Declaration ~~ 0923970920 ,