Recommended Changes to Proposed Governing Documents

From Lake Holiday Community Newsletter June 2005

1. LHCC - Unintentional omission of stated 15% maximum annual assessment increase

2. Declarant/Developer - Definition of “Development Period

3. Declarant/Developer - Deletion of references to "Additional Land" by Declarant

4. Declarant/Developer - Clarification of Subassociation Voting

5. Declarant - Clarification of omission to state that all owned lots to be governed by Declaration

6. Type of flags allowed

7. Boat lift enclosures/canopies

8. Grandfathering of watercraft

9. Appointment authority to replace a Board Officer

10. Ownership definition for being a Board Director

11. Multiple Board Directorships within the same property ownership

12. Open fire definition

13. Number of Declarant appointees to the Initial Construction Subcommittee

14. Easements

15. Boat storage on property owners lot

16. Minimum home size requirements

17. Definition of Submitted Land

18. Declarant/builder exclusions during development period

19. Definition of Majority Vote

20. All stipulated voting percentages and associated definitions

21. Approval necessary to sell Common Areas or portions thereof

22. Definition of Quorum at membership meetings

23. Builder ineligibility to vote if not paying assessment

24. Waiving rights of property owners to sue

25. Use of advanced technology for notices and approvals

26. The standard (event) permitting withdrawal of land by the Declarant

27. Definition of Common Area

28. Trigger for termination of old/adoption of Revised Governing Documents

29. Restriction of type of land the Association can add to the Declaration

30. Lot Owner's lender's consent to pass new Declaration not required

31. Limitation of individual's for sale signs by Declarant to majority ownership sections

32. Tie the maximum cap of annual dues increase to a cost of living index

33. Restriction on the number and types of vehicles allowed on property

34. Conversion of an attached garage into a living space

35. Required number of days notice for annual, special, merger and/of consilidation property owner meetings

36. Inclusion/exclusion of Declarant appointed non-voting Board Member participation in executive sessions

37. Removal of non-applicable utilities (i.e.; gas, electricity, television) from Declaration references concerning management and upkeep

38. Consistant use of Property definitions throughout documents

39. Is there a need for Subassociations even being in the revised documents?

40. Use of prohibited firearm or other weapon within Lake Holiday for self defense