B. HOMEOWNERS' ASSOCIATION BY-LAWS

As a new resident of the Second Gate Post Estates Homeowners' Association, there are important points that you should be aware of:

Membership - Every person who is a record owner in any lot which is subject by covenants of record shall be a member. Membership shall be appurtenant to and may not be separated from ownership of any Lot ("runs with the land" and must be transferred to new owner).

Assessments - There is an annual assessment which is due January 1st. The current amount is $315 per year. This covers trash removal, management and administrative expenses, grounds maintenance, and social events. A complete breakdown of expenses is distributed in December with the annual assessment billing.

Annual Meetings - There are annual meetings held usually in April for the purpose of electing new Directors and conducting general business.

Special Meetings - may be called during the year for certain topics.

Directors - There is a Board of Directors comprised of five members with staggered terms. They are nominated and voted on at the annual homeowners meeting. They hold offices as well, including President, Vice President Internal Affairs, Vice President External Affairs, Secretary, and Treasurer.

The current Board holds monthly business meetings and the members carry out their own assigned duties between meetings.

Architecture Review Guidelines - are established to maintain and enhance our carefully designed environment. These are spelled out in the homeowner's package received at the time the home was purchased and are also included in this welcome packet. A summary sheet is also included. There is an Architecture Review Board comprised of five members which review applications and identify infractions.

Common Area - comprises approximately five acres and is jointly owned by the Association members. It is undeveloped at this time.

Newsletter - called the "Gate Post Sentry" is published and distributed six times per year.

Block Captains - have been established to represent their area of the association, to act as "Welcome Wagon" greeters, and to distribute the newsletter.

Beautification Committee - takes care of the subdivision entrance and encourages well-kept appearances of the community.