BYI,AWS

oF .t

poRT LOUIS OWNERS ÀSSOCIATIOI'' INC'

BYIÀHS.

OF

poRT lpuIs or{NERs ÀssocIÀTIoN, INc.

port Louis owners ÀssocÍatÍon, Inc., (the ttAssociat,Íontr), a-^n-oFofit corporation formed under the lavs of the State of,r"i=iana and the. governlng body of certain í¡rmovable propertyi.."o,rn as Porl Louis subdivision, located in St. Tammany Parish,l,cuisiana (the rrProperty" ) vhich Àssociation havÍng beenãrqanrzed and incorporated on behalf of Port Louis Developmentãoiporation (the ¡tDevelopertt ) , as successor in titLe to Portir"is sailing Village Lirnited Part,nership-I, the original ovrnerand devel-oper of the Property does hereby adopt, the followingili.la,rs which shall govern the ad¡ninistration of the Property,

ÀI1 present and future owners, present apd future tenants(ro the extent leasing is pennitted); their émpLoyees, guests,customers., clients, and any and aII parties who rnight use thei-'roperty ' in any manner are subject to the provisÍons of these'''.'laxs. The closing of the purchase of an Àséessable Unit or theiease or occupancy of an Àssessable unit, shalL be deemedacceptance, approva]-, and ratification of these Bylaws and anyiiuLes and Regulations adopted pursuant thereto.

Àny perso.n or entityr orì becoming a fee sirnple Owner of anÀssessable Unit, shall automatical).y beco¡ne and r:emain duringcwnership a Mernber of this Àssociatíon and become subj ect toihese Bylavs' Menbership shall automatically terrninate upon salec'r t:ansfer of an Àssessable Unit, whether iuch sale or transferis voluntary or involuntary. Hernber:shi.p tnay not be transferredseparate from the transfer of the ownèrship of an Àssessablellnit. There shall be one membership in the .dssociation for eachÀssessable Unit, whether such sale or transfer is voluntary orin'"'cii:ntary- .üembershj-p rnay not be transferred separate fron thetransfer of the ownership of an Àssessable Unit. There shalL bec;re membership in the Àssociation foleach Àssessabre unit. rffee simple title Èo an Assessable Unit is held by more than oneperson or entity, the nernbership for such Àssessãble Unit shal1be shared in the. same proportiori u"-lnã iå. =i.pr" title to suchÀssessable Unit is helci. '

ÀRTICLE IDef inition of Tern_s

- . l ' r'-Act of Dedicationrr shall ¡nean the Àct of Dedication ofServÍtudes , privileges and Restric bi;;é --;; - p";r - i;i;--ãät"a

;;::ï_:= _3, l:s s3., registered in the Conveyance Of f ice of sr,.rdrunany parish in coB 1182, folio 63L, as no$¡ or hereafteranenCed or supplemented.

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2 . rtÀrticles of Incorporatiot'¡, It

Articles of IncorPoration of Portor rrArticlesrr shaLl meanLouis owners Association,

theTnc.

3. rf Àssessable Unitrr shall mean and referrmÞrovements constructed for residentialr mooring,ääñrur"iuf or professional purposes upoh the Property.

fortime

to theparking,

4. rrAssessmentrr shall mean a share of the funds requiredpàyment of the Common Expenses and Costs which from t'ime toare assessed against .n õwn"r of any .È,sse,ssaþIe Unit.

5. rrAssociationrr shall mean and, refer to Port LOuis OwnersAssoclatÍon, Inc., a Louísiana non-profít -corP.oration, -ll"Àrt,icles of Incorporatíon of which are recorded in the puÞIrcrecords of the S€ate of Louisj.ana and in St. Tammany'Parish,Louisiana

6. t'Board of Trusteesrr or uBoardrr fefersr to the Board ofTrustees of Port Louis owners Association, I,nc.'

these Bylaws of Port' Louis owners7. ItByla!¡stlÀssociation, Inc.

means

^.----ll -L^la\-rr¡(u¡rÉr eJclJ- ùPdUg " 5IlclI-L

for commercial purposes,o.

are usedhotels.

ãltIttc d'.l I cl.L a

includingT*ñÞ^r¡omonts Which4¡rrt/ -without, lirnitation

9. trCommon EXpenses and Coststt shall mean the costsexpenses of adminis€raticln, maintenance, operalig", repairreþlacernent of Community Àreas and Cornmunity Faci'Lities¡

10, I'Community Àreasrr or t'Cornmunity Facilitiestr shall meanand ref er to all lnovable and imrnovable property which may beacquired, maintained and administered by the Association for theconrmon use and benefit of Owners, incluãing, but not linited fo,certain streets, roadwãys r wat,e::vays, marina, boat yards-, parlcs

'green spaces, swirnming - pools, nod oI hereafter located on 'the

,Property.

L1. rrDevelopertr shaLl mean Port Louis Development'Corporation (the rrDeveloperrr ) , any other Person or entitysubäeguently desÍgnated by-neváIop"r i r inprovs the PropertYr. 3tdany person or entlty to w:hom it riay t.'ansier the Property, ot'herthan individual Units within the prope:ty.

and.and

not bewalls,

related. L2. ilImprovementstr shal1 mean and include, but

l init,ed to , paving , f ences, recrr ration f acilÍtles ,landscaping, buildings, Assessable Jnits, and otherstructuies-which may be- constructed up)n the. Property.'

L3.conveyedstructure

1'Lotr¡ shall nean that part of t,he . Property -which isin fee =itprl t" an or¡ne. ãtã upon which a singte farnilyhas been or vill be built.

ì'95

,, r.,,.,,i r

r 4 rl¡4emberrt. Each Owner, by virtue of o!¡nershiP of an-1-"-'^ b 1e Un it, autontatically Èecs¡'es and remains during:::" t- of the Àssessable Unit a Ht:mber of the Port LouísÏll"-i==ociation, Inc. Developer shall be considered aill.,, of the Àssociation to the exl.ent it retains votes byñ;- of the provisions of these. Bylavrs or the Àct ofication

sinpJ,eof an

15. ttQgr¡g¡rr shaIl.;i:1e holder, whether¡isussa¡Ie Unit'

mean and refer to the record feeone or more persons or entíties,

L6. trParty i{allrr shall mean and refer to the r¡aII builtoartly on one Lot and part,ly on the adjoining Lot for the commonfenetit of the Owrters of each of the two Lots in supportingstructural elements of both Assessable Units.

I7 . rf Port LoulsI sha].1 mean the Port, I¡ouis subdivlsionJocated in St. Tammany Parish, Louisiana, as described in ExhibitrtAtr hereto (prope:ity description) , and docurnents describÍng theplanned Unit Development (P.U.D.) on file lríth the St. Tammanyparish Department of Developrnent ín Covington, Louisiana,referencei Zoning Case No. 83040468 and Ordinance Council seriesno. 83616,

18 . trProf essional Spacett shaIl mean aIl Improvements usedfor professional purposes.

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L9. rrProperty'r shalI meanproperty located in St. TammanyLouistr as described in Exhibitamendments thereto.

21-. trUtility Servicesrt. Utif ity Ser¡¡ices asshalr include, but not be ri¡nited to, -electric power,terevision, vater, selrage, garbage d.isposar and, trash22. ¡rl^late¡=¡ays,, shall lnean aI1 urate:*raysincluding without rirnitatj-on

"uná:-" , channÄl=,narinas.

and refe: to portions of' the reaLPar-ish, Louisiana, known as ItPort

rrÀrr c>f th,ese Bylaws and subsequent

used hereingâs, cable

removal.

of Port içuislagoons and

20 - rru sabl e spa ce rt shall mean that area, incrudingcommercial" space and Professional space, in square feet of anÀssessable Unit as determined by the Developer. In calculatingthe Usable space of each Assessáble Unit, the Developer may relyupon - an engineer and sun¡eyor and âDy and all numbers may berounded off to bhe nearest ten (1O) squãre feet.

ÀRTTCLE TI

officeof,fice of the Àssociation shalL be located inThe principal

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the city of New Orleans,carondelet Street or suchthe Board of Trustees.

State of Louisiana, at Suite 925 , 3l-3othgr address as may be designat.ed by

'&

Àsso_cíation Meetinqs

À' . the Members shalL have thepower and aut'horíty to administeitf¡e Àssociation in any and aIIrespects excluding but, not, limíted to the po!¡er and duties givento the Trustees of the Àssociation purÊuant to Àrticle VIIherein. The Members of the Àssocíatiõn nay veto any decisionmade by the Trustees, provided that, seventy:fl_ve percent (ZSt)of the Hembers entitled to vote concur in the veto in person orby proxy.

B. Ànnqar Meetinqs. The f irst Ànnual Meeti.ng of theÀssociation shall be hetd on september 13, 19gg. ThLreafter,Ànnual I'feetings shall be held on the second Tue'sday of Sept,embereach succeedÍng year. Àt such Ànnual Meetings, tf¡e l{embers ofthe assobiat,ion sharl conduct, an erectíon - of the Board ofTrustees in accordance with the provisions of Àrticle MereÍn.The Members of the Àssociation may also conduct such otherbusiness of the Àssociation as may properly come before then.

ÀRTICLE III

C. special Meetinqs The President of the AssociationcaII a Special Meeting of the ¡nembers of the Àssociation asted by a Resolution of the Board of rrustees or a,petitionshalldirecsigned by a najority of the Members entit.led to vote and filedwith the secretary of the Àssociation. No business shall betransacted at a speciar Meeting except such business as is¡necified by the Board Resolution -or retition, unLess four-fifths(4/5) of the Hernbers present in person or by proxy consent to thetransaction of such other busineis.

D. i\oi ourned Mqetinqs. Àny rneeting of the Associationadjourned because. a quorum has not att.endãd may be reconvened,provided that' notice bf same is given 'b.tre rne¡nbels in accordancewith Àrticle rrr (F) herein, "*."'pC

-ln.t the minimurn notice insuch case shall be trvo tZ) days. -

T. . Place of Meetinq. Ìf eetinc ; of the MembersAssociation sharl ue-- t¡ãG at th;-'' rrincipal offi.cesÀssociation or such other place "onr*, Lent to the Hembersbe designated by the Board of Trusteei

Notiç9. of Mçqtincr. The ser ret,ary of the Àssociationshall serve v¡ritteñ-nõEFe òr tne ti¡ne, pracê, and agenda.of eachÀnnual or- special MeeÈing to each owner of record at the address:::}?n"ted_by the owner, oE if no address j-s designat,ed, at tt¡ernar'Lrng address of the owner's Àssessahle Unit at, läast seven (7)days but not more tharf. fourteen (14) rt.ays lrior to ïrr.-neeting.The nrailing of such not.ice in thà *ãn ,ãL dLicribed herein shaLl

ofofas

thethenay

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be deemed ser:¡ice of notice. Notice of a meeting may be waivedby . ovrners in writing f iled with the secretary orí or bef o.á -ti.date of the ureeting. Àttendance at a mee{ing of Hembers inperson or by proxy shall be deerned a waíver of notÍce of

=r-rðnrneeting, except where the Me¡nber obj ects to the transaction ofany business on _the ground that, the rneeting is not, lawfullycalled or convened.

c - order of Bu-s iness . The o: der of Business at ar1meetings of Mernbers of the Association shall be as follows: (1)rorl call ' (2) proof of notice or waive r, (3) reading of ninutesof the last meeting, (4) reports of offi"cers, (s) reports ofcornmittees, ( 6 ) old business, and (71 ¡ ren business, exèept, that,Àrticle III(c) shall lirnit the busines; which may be trãnsactedat, a Special Meeting

H. Ouorum. Before any rneetin-clco¡runence or continue, the presence ir.provided for in Article IV(E) hereunder.,owners entitled to vot,e is reguired:

I. l'faioritv. Unless the partÍcrrlar clause describing thevote . reguired shall specif ica1ly pro.ride otherwise, the votereq-uired on any issue shall be of tfre.,otes present in person orby proxy entitled to vot,e, provided thau a qutrurn is preêent.

J, liritten Con +-LÞ. Whenever,

the Àrticles of Incorporation, thesDedication, the affirmative vote of

B

to votefurnishedownership

of the Association nayperson or by proxyr êsof morê than 50t of the

by any provision of law,: Bylaws or the Àct of

l{embers is reguired toAssociation on behalf of

bo such action, signed byÐower in the particularrurpose, without necessityconsent, together with atssociation to the effectstitute all of the members;tion, shaIl be filed withembers.

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authorize or consÈitute action by thethe Property, the consent in wrilingall of the Members having votingrguestion, shall be suffícient for ttief or a meeting of the Ì,fembers. Thecertificate by the Secretary of thethat the subscribers to the consent corentitled to vote on the particular quethe records of the proceed.ings of thå n

ÀRT]CLE rV

Members, Vot j-rìq R _ghts

4. Al"location of v*i¡q Rigþ-Es. Each ttenber shall have avote in t p:rcentage of such l{emberrsusable. space to the totãr usable ?p.r" oi all Hembers, âsdeter:nined in accordance with the ¡ct cî Dedicat,ion.

Ft

l. Proof of ownershin. Nc Menber sharr be 'entitledin t,he å,ssociatiõñ, *until

such ilember shall havethe Association proof of :uch Henber, s fee sirnpleof ar¡ Assessable unit. pro,,f of fee simple ownerstip

shall be established by a Hember's filing of a copy of therecorded deed with the Secretary of the Àssociatíon.

2. Assessnents Paid in Full-. No Member shall beentitled to vote in the Àssociation while in default in thepaymenÈ of any Àssessment. Upon curing the default, the Hembershall agaÍn be entÍtled to vot,e

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c. Authoritv to ExercisqVotinq Rights.

L. One-Person OwnerFhip. If the fee sírnple ownershipof an Àssessable UnÍt, is held by one personr âs demonstrated bythe proof of ownership filed trith the Secretary of theAssocj.ation in accordance with Àrticle fV(B) (1) herein, suchperson shall have autþority to exercise the voting rightsappurtenant to stich Assessable Unit.

2. Multi-Partv _or Entitv Ownershlr¡. If the feesimple ownership of an Àssessable Unit, is held.tby more than,onePerson or if the fee simple ownership is,held by an entity orentitiesr.. as demonstrated by the proof of ownerJhíp filed withthe Secrätary of the Associat,ion in accordance with ÀrticleIv(B) (1) herein, the owner or ovners of such Àssessable Unitshall desi-gnate the one (1) person that, Owner or owners desire t,oexercise the voting ríghts àppurtenant to such Assessable Unit,by filing a certificate nesiÇnating Voting Representative withthe secretary of the Àssociation. The designated votingrepresentative may be changed frorn time to time by the filing ofa new certificate Designating votÍng Representatives. :

D. Comnencement of Yotinçr Riqhts. 'After Developer conveysa particular Assessabre unit, th" voting right shalr beappurtenant to such Assessable Unit and neither the Àssessableunit nor the voting right nay be conveyed without the other.Prior to conveyance of an Àssessable Untt, Developer shall beentitled to vote for such unconveyed Àssessable Unit as ifDeveloper were Owner hereof.

E. Prexll_yoli¡g. Voting by prcxy is pernítted provided'that a ttiEl"n -proxy signed by the p"r"bn othärwise entltled tovote must be filed with the Seõretary of ttre Àssociatj.on prior tothe meeting at v¡hich the prolcy vóte is to be exerci jed, andprovíded that th." proxy votÀ is -exercised in accordance with anyt'¡rítten instructions included in the wiitten proxy filed with theSecretary.

ÀRTICLE V

Trustees _

L.. ^ À._ Nl.:mb_er and Tenure. The Àssociation shall be governed px_Dy a Board of Trustees composed of not ress than thlee Gl"l/-^pe¡sons' unless sooner re¡novLd, in accordance rsith these Bylaws,

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and. except for the first Board, of Trustees named. in theÀrticles, the Directors shall hold of,fice until the next Ànnualìf-eeting of !h" ÀssociatÍon and until their =r"õ==or= shall h;;"been el-ected.

B. oualifications. Except for the fi.rst BoardDirectors named in the Àrticles ór successors "ppoirrt"d;yDevelgpe5 alÌ Trustees must be owners and úåm¡er= oe-Àssociation in good standÍng and, not in default of .the paylnãntany Àssessment

ofthe )1..the '-'l r

c' vacanc,i.es... Àny vacancíes in the Board of Trustees maybe- filled by .najority vote of the i"r"irrirq -ãrecteo trusteãs,unless f ewer than thiee ( 3 ) Directois elected, at -an ei;;J-;,.sPecial Heeting. of the 'Àäsociatlon rr¡main on the Board ofDirectors, in which case the vacut.y-"nuft ¡. filIed at an Ànnua1oT specíal Meeting of the Associátion. À Trustee elect,ed tofill a vacancy shall be elected to the unexpíred term of hispredecessor in office. t

of

u t llhe Board of TrusÈees shall meetnrnediately follo wing the \nnua1 MeetÍng of thefor the transactí orr of such .:usiness as may properlybefore it. Thereaj:ter, the Board of Trus tees shaIlt ime to t ime as the najority of Trustees shal1but at least f our (4) tj_mes a year.

D' . . Removal. Àny Trustee may be removed, either with ort¡ithout éause, ât. any special Meeii.nq of the Association calledfor such purpos.e by the majority vote- of the Hembers entit,led tovote' The notice calling such neeting shaLl give notice õi- tn.intention to act upon ",t.É matter, .tã-ir the ríotice so provides,

!h" vacancy caused by such .t".o',ru,l ruy h : fi- led at such meetingbv Tl]ority vote of the Menbers p.*"åît j n pe:son or by proxy andentitled to vote.

Eeach yearÀssociationbe broughtmeet fromdes ignate ,

F. SpeçiqI _Ugetincrs . Special Meetings of the BoardTrustees nay be held, at, any tinrä ";;; the carl of the preslden

::_.:i__a11_ request of any rhree' iil. or nore Trusrees.Þuslness sharL be transacted at a specíar ll""iitrg or tn" BoardTrustees except such business ã=--i=-'specified- in the car.r.request for a special ureeting uni""u a iajority of the Trust.epresent consent.

G.' . Pl-ace .ot l'leetinq. MeetÍngs of the Board. of Tr:-ieesbe held at the principal officãs of the Association or suchplace convenient to the Trustees "=

-r"v -¡" ã"=ignated byoard of Trustees.

oft,Ì.looforôe

shallotherthe B

H. Noticç.,of Meetincr. The secretary of the Àsèociation-L-rt

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sna-Lr serve vritten or verbal notice of the ti¡ne, prace, andagenda of each Regurar or speciai Mleting to each irustee atLeast three (3) uút, not more than fourteen (14) days prior tosuch rneeting' Notice of a neetinf ;ù l* ,uived by Trusrees in

j.t l

a lrriting filed with the_ secretary on or before the date of the

Meeting. Ai¿r,áur,r. of. a Trustee at such rneeting sha}l be

deerned. a *"i;;;-;f notice thereof , except where the Trustee

attends tor the announcea purpos. of'obiecting to the transaction

on Èhe gro,"r,d that the - ïå"ting - l;' not lawf ully called or

convened

I. ouo,fum. A rnajority of the' number of Er-ustees fixed by

these By)-aws, as from tinã-io tirne -i-"ña"a, shall constitute a

cruorum for ú"ïr*ïact.ion of uusiness, b-ut a smaller number tnay

:ä;;iT"-ãt"*-Ci** io tíne unt'il a quorum is present'

ARTTCI.E VI

sryA. oesi.olnation .of officers; The offícers of the

AssociationffiofaPresident,-VicePresident,aSecretary, and a Treasurer, and.such ;ãh;; åffi.eers as the Board

of Trustees ;;y i.r"r-ti¡ne'to time a"=îg""t", uf] of who¡n shallnärå-;ãlit; ,tnãir-lheir successors are eÍectea ana quatified'

B. EIeçtion of. officeTs & Tenure' The officers of theAssociation shall be elected annualLy for one-year terms by and

from the Board of Trustees by najorily vot-e - 1! the Board ofmr1.ìqr.e.es, meeting held afier tnã- Lnnual lrteeting of . theAssociation, proviáea, however, that no one (1) officer shallserve for more than two (tt-"ã"=""ntÍve ierns in tne same office'

C. Vgcancies. Whenever any vacancies shall occr'ir in any

office by d,eath, resignation, inciease in the number of officersof the Association, or otherwise, the same shal} be firled by tlt"tsoard of Trustees at any Regular or Special Meeting, - 1nd theofficer so elected. to a v.".rlóy shal} fiif the unexpired t:T ?:his predecessor and shatl noia office until his successor Ischosen and gualified.

D. Rqmova}. Any officer or agent elected of annoil!:1.,:ythe Board of Trustees may ¡. t"torr.á at any Regular or Special¡lu"ting, with or without cause, by a najority. vóte of the Board'of Trustees vhenever ln its ¡úagi"nt üíe ¡eãt interests of theÀssc¡ciation w!11 be se:n¡ed thereby.

E. Pr.esident. The President shall be the princípa}executive officer of the Assoclation, utta subject.to the controlof the Board of Trustees, shali $ gä"ãiãf suþen'ise and contxolaII of the business and affairs of [ñã ¡="oäiation. He shallpreside at, "ff--r""tings of the associatiàn and. of the Boaro ofTrust.ees. nã-rãy ;ig;, with trhe secretary or-any ::h":-P::P"tofficer of ti't"ãå=ociäiion thereunt"-;;Éh";ized by tltt !oar! ofTrusteesr âl1y contracÈs or other it,=tt"*ã"i= which the Board ofTrustees har' J"ïil-oïi-r"a to be .*""ttããã,- except ln cases wherethe signing ;rã-;;;ã,-,tion thereof shall be expresslv delegated by

t.he Bc¡ard of Trustees or by these ayi"wu td some other officer

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ffiffidti

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or agent of the Àssociationr o! sha.lI be required by law to beotherwise signed and executed,i and. in general strall perform allduties incident to the office of President, and such other dutiesas -may be prescribed by the Board of Trustees from tíme to ti¡ne.

F. Yice President. The Vlce President may perform theusual and customary duties that pert,ain to such office and, underthe direction and subject to the control of the Board. ofTrustees, sueh other dut,íes as nay be assigned to him. The VicePresident sha1l take the place of the Presídent whenever thePresident shall be absent or unable to act.

c. Se-cretary. It shalL be the duty of the Secretary toattend all meetings of the Àssoclation and Board of Ttît¡stees andrecord correctly the proceedings had at, such meetings in a booksuitable for that purpose. It shall also be the duty of theSecretary to keep true and correct records of Proof of Ownershipof the Àssessable Units, Certificates Designating VotingRepresentatives, and writt.en proxies. The pqrson holding theoffice of Secretary shall also perform, under the directLon andsubject . to the control of the Board of Trustees, such otherduties as' may be assigned to hi¡n.

H. Treasurer. The lreasurer shall have responsibiLityfor Àssociation funds and security and shall be responsible forkeeping full and accurate accounts of all receipts anddisbursernents in books of the AssocÍatÍon. He shall beresponsible for the deposit of all moneys and other valuableeffects in the name, and to the cred.it oi, the Association, insuch depositories as t.he Board of Trustees may from time to tinedes ignat.e .

ï. Deleqation of Authoritv In the case of an absence ofor any other reason that therd of lrustees may delegateof such office to any other

atever period of ti¡ne seems

any offi cer of the Àssociat.ion or fBoard nay deem sufficient, the Boa

ùf f icer, 'Irustee, or Hem¡er for whdesirable, providing that a ma jority of tÌ e ent,íre Board concurstherein

ÀRTTCLE VII

td of..ficers

some or all of th e powers or duties

À. FeFqral. The Board of Trusteesand duties necessary for the aÉruinistiatiorÀssociation and for the operation and DcI ass residenti al conrnunitf i"ãf "åi"g , rI

Powers and duÈies enumeratèd in this -artiTrustees shall have the authority iã do afor the ad.ministrati-on of the Àssociationmaintenance of the residential, ðorn "r,conmunity except as the Act oi Ded.icat

shall have the Powersof the affairs cf -he

tintenance of a firstthout 1i¡nitation, thele VIT. The Board ofry and all such thing=and the operation andial and Professionallon, the Àrticles of

t'

p :ncorporation, these ByIaws, and applicabJ-e Iaws restrict such

,utftoritY ' I

B, f,.iscal Powerç- and Du!ie.s-. The Boa¡:d of, Trustees shall-^az'-.ê. a Uua n aÈ Least annual'Iy '

determinelfÉ.,:Yør- - .--xo amounË oi Àssessnents payable by the owners to meet' the::;,,;*-il;r,=*" and Costs oã tfre Àssóciation, . and al'locate and::'"i;;

""Ëfr Á"sessments among the Owners aocording to the formula

L:)-u-- -

-c? forth in Àrticle X, ana Éy najority vote of the Board adjust,)seìar-rêâsê or increase the a¡noùnt bf the uronthly Àssessment's, and::;i;-;; return or credit, ôDY excess of Àssessments over Common

:;':;;=;; i"a costs, workÍng ãapita1, sinking funds ' reser¡/e f orå;ä;;;ã *uint*nance and tor reþIacement to the ow.ners at the endaf eâch operating yeari Ievy and collect SpecLal Assèssments.";"r;î;;, -i;-ih; ópinion of tte Board, it_ is necessary to 1: so

;;;";"pit.f inproïements, 05 becausä of emergencíes; collect'irãi i"q"L"t Àsseåsments by suit or otlrerr¡Íse and enj oin or seekiamages agarnst a Owner wtro rnay be in def ault i .borrow funds lnorder to pay for anY expendituie or outlay reqUired pursuant toiñ"-ì"tn"rily srantäd ËV in. provislons of Lhese Bylawsr lnd",i"cute

.all å.t.f, instrumänts evidencing such'indebtedness as the;;;;d-ãf-tlt.trstees may dee¡n necessaryt establish a banlc accountcr accounts for the tommon Éreasury- and for alL separate fundsrhich are required or may be dee¡nãd advisabls by the -Board of'Irustees; keeþ and maintaLn fu1} and accurate books and recordsshowing all oi the receipts, expenses or d.isburse¡nents and permit,r'.:r*inãtion thereof at anY reasonabl-e b'ime during regular:.ì.ì-!r.€b¡ ìlo.ito guçÁr !rwJi*r¡;, cincl CrlLlSê A Co;Lplete aUditc;f the books anã accounts by a certified or public accountantou;side of the Àssociation, once each yeari and PrePare. andcieliver annually to each Owner a stateñerlt showing receipts,eypenses or disbursements since tþe last such statement.

C. Mainte-nance and Reoair Powers and Dutieg. The Board of-^ ustees =n.tI- pro.r|a. for the care, seàurity, operation,nanagenent, maintenance, repaj-r and replacement'of the CommunLEyìreas and Community f'acilities, exceþt that it shal1 not beobligated to clean ány balcony, patio, -ot st.orage sPa.ce adjoininguod. äÍrectly accessiÉle only 'f fon a¡i Asses:sabie Unit. Wíthoutì.imiting thå generality of €n" foregoing, said obligatio_ns shallj'nclude the keeping of such Community Areas and communrcyFacilities in goãa, clean, attractive, ãn,l sanitary condition,order and repair; renoving any ¡naterials from such communltryÀreas and comrnunity Faciliiies ,trl"tt ruight irnpair access to PortLouis or to any Àssessable Unit; keeþincy Lfre Property .

uu.f : ,

attract j.ve and desirable; naking necessarat or desirahl-ealterations, additions, betterments or improvements to or on thecom¡unity ¡reas and. cornmunit,y Facilittes; providing .solid wastedisposal.l ."wage treatment raäiiiii;;, an.a,iequate drinking *u!1ttupþty, t..,.L and lakeside maintenur"",-- streèt construction and:"pãii, f."J=.aping and gardening, and-iir. protection ser¡¡lces'

t+ü

nr

n

!r

F

i.

t.F

F

Insurance Power aEd Duties.insure and keep insured a]l of^L: ì ì*..q r I

D The Board of Trusteest;;- insurable communitv

Àreas and community Facilities of port, Lôuis, in accordance withÀrticle IV of the Act' of Dedication.

E. Enfoqcement Pg',vers end _Þuties. llhe Board of Trusteesshal1 ad,minister and enforce tnJ ¡ctaf Dedication, cov_enants,conditions, restrictions, easements, senritudes, uses, rules .andiåqufations, linitations, obligations and alI other provÍsionsafiecting or established for the benefit of the Property.

F. Rulçrnakinq Povers and Duties. The Board of Trusteesnay establish, make and enforce such reasonable rules andregulations as may be necessary for the operation, use ?ndoccupancy of the Property uith thè right to amend same .from ti¡neto time. À copy of any such Rules and Regulatlons shall bedelivered or ¡naiLed to each Owner promptly upon the adoptionthereof.

G. Poqers and Duties to Execqte Contracts a4d Leases. TheBoard of Trustees shaLl have the polrer and dutry to execute allcontracts and leases for the Àssociation, J-ncluding but notlinited.to contracts for ¡naLnt,enancé, repairr' and insurance, êndIeases of the Conmunity Àreas or Cornnrunity Facilities forconmercial concessions or othervise. The Board of Trustees shallhave the authority to hire and. discharge personnel andcontractors and to make disbursements for sen¡Lces rend,ered theÀssociatiurr.

I

ll

ll

I

H,Board ofÀssociationÀssociation,powers andBylaws.

À::E: i:-.t:.ent and Deleqation power s and Duties . TheTrustees sha l.I appoint such con¡nittêês i of theas it deems just and proper frc>m the Hembers of the

and nay delegate to such Committees any of theduties granted to the Board c,f Trustees by these

I . Power . !o Enqage Han_agenent Àqe nt. The Board ofTrustees ¡nay eruploy for the Àssociation, ()n such terrns and atsuch fees as the Board of Trustees deerns just, a HanagementÀgent who shall have and exercise such pow, rá as are granted toit by the Board of Trustees.

J. Comrnunitv Äreas anrì Comml'r nitvTrustees shallad¡ninister the c

have the pover toommunity Àreas and, Cornmu:

Deterrnination of Usaþle Space.shall, at least on an annuãf--ËãG ¿u¡eeting of the Àssociation or assessmerComnan Expenses and Costs, deteruine tlaII Àssessable Units and, the Usable s

Y"i!, any nay cause such Usable Spaceengineer or sur*eyor. Àny and all ñu:¡b,the nearest ten (10) sgüare feet. Sinclude all .àssessable Units ovned, by th

iaci LiSies. lhe Board ofacr ru j.re, maint,ain and

rity Facilities.1:re Board of lrustees

rnd prior to any annu*1rt o ? Èhe Owners for the,,e t :tal Usable SPace inpace of each .â'ssessableto be det'ermined bY an

.rs lray be rounded off torch ¿ãter¡ninations shall: De'¡eloPer -

I

:

;

I

ÀRTICLE VIII

Develgper's Pgwer qnd Duties

A. DeveIoÞerrs Superjor PO\'¡ers and Duties.Notwithstand,ing any provisions of these Bylaws to.the contrary,i;-i; controllingly provided that, the powers, dut'íes and rights;i tn* Board of'üruJtees sha1l be exercised by the Developeruntif at least forty (40) Àssessable Units are owned by personsãlfrãr than the Oevãtopei as provided for herein, or -at suchããïfi"r'time as Develoþer nay be r¡ritten instrument filed withiñã- pu¡fic records of st. tammany Parish, rgfirÌquish control ofthe management and adrninstration õe the Association i and that, tl¡epã""t=, áuties and rights granted.to the Board of Trustees herein!n.ff be subject. to and subordínate to Developer's right toincrease the number of Assessable Units to be constructed atPort Loule ,

.,B. DeveloqeÃ'.s P¡rvment of Àsses.smeriÈq. The Developer

shal1 nqt. paT ány Ànnual-Assessments or Special Assessments, butthe Oevetopei snaft pay the difference ln èost, between the sum ofatl Annual Àssessmeñti due from Owners and the actual cost ofoperat j.on of the Association until such tirne as the Developerrätinguishes control of the administration of Port Louis to theÀssociation. The Developer may increase the Ànnual Àssessmentsprior to turnover of the administration of Port Louis to theÀssociation. After turnover, the Developer shall no longer funddefi-cits but sharf ¡a.¡ the Annual Àssessments for any AssessableiJnic, ticle t.o which is held by the Developer and for which theÀs sociation has accepted the maintànance obligations.Notwithstanding anything contained in this Àrticle to thecontrary, the neveloper may a'b, any ti¡ne conmence payingassessments as to Àssessable Units that it, owns and therebyautomatically terminate its obligation to fund deficiÈs.Hov¡ever, ât any time thereafter, the Developer may again elect tofund deficits.

The DeveloPer (or itsduly authorized agents or assigns), may make such use of theunsold Àssessable Units, the Community Àreas and CornnunitYFacilit,ies and the recreational property as nay facilitate theircompletion and sale, includíng, but not I ir¡ited Eo, the

nce of sales offices for the showing of the ProPertY andof signs, billboards, placards and v isual PromotiG-*l

Developer may use unsold Àssessable Units as models or

ARTICI,E IX

I.Torkinq CapitaL Contributionconcurrent, vittr the transfer of the fee simple to an

c

naintenadisptaynateríaIoffices.

Assessable unit aÈ port. Louís, .wherein the grantor is theDeveroper, the grantee sharl ¡nake a cash contíiu"li"" Ë ii.,"worlcing capital of the Àssociation equal to twiãe.the rontnïi r

assess¡nent of said Àssessable Unit. 6aiA contriUut.í;;-i='-üJ'^i.used by tl-re Association for erpenditures of a non-routine nuürã.contributed funds sharl not bé used for any init¡iãr constructionor eguipping of conrnunity Faciriti"s ãr co¡ninunity¡areas.

ARTTCLE X

À. . The Developeri snaff dàterminerhe amount or the Ànnuar essGss¡o-ents i"itiuiif.--r rhereatt"il--'iü"Board of Trustees shall determíne irr" arnount of the .à,ssessmentannually, but nay do so at more freguent lnterwars shouldcircumstances. so require. upon resolution of the Board ofTrustees, installnents of ennuãl ass"s=¡nents may be Ievíed andcollected on ,a guarterly, serni-ann"å1-or annual.'basÍs rather thanon the monthly- b.u"is. piovlded ror r,"re1nabove. àgeesement ratesshaLl -þe .carcul-ated in accordanee with the provibions of the Àctof Pedication.

B. Not.lce_ _ of Assess¡.nentjs. The . Board of Trustees of theÀssociation sharl mãke reasonábre efforts to fix the amount, ofthe Àssessment against each ¡,ss*ssa-bi" unit for each Àssessmentperiod a't least_ _t.hirty (3 o ) dut;- i; advance of such drte orperiod and s.har1 , af tnui iii.,;, prepare a roster of theÀssessabre units and Àssessrnent.s aþplicable thereto which shallbe kept in the office of the e="oãîãtion and snarr ;t-;p;;-|.inspection by any owner upon reasonabre noti.ce to the Board.written notice or the Àssessment sha]l- thereupon be sent to theMembers. The onission of the eo.io of Trustees to fix thearnount of the Àssessment for ""v e=="ssment period sharl not bedeemed a waiver or mcldif ication'i;;;y respect of the provisionsof this Àrticre, or a rerease of any me¡nber from the obligationto pay the Àssessmentr oE any instãltment thereof, tot that orany subseq'uent Àssessment_ -per'i"ã;-;ut, the Àssessment, f ixed forthe prececing period sharl ""niïnr,ã until a new Assessment isfixed

c. Speçiêl .AsçeSsments.. In add.ition to the ÀnnualÀssessmentsautnoffiertiãïe,theÀssociat,ionmay1evyin any Àssess¡nent y""r' a speciui -i=="ssment or Assessments ,appricabre to that yu.t onry, iõr-trr. purpose of defraying, inwhole or in nart, th; cost oi-any-lon=truction or reconst¡r¡ction,inordinate repair - or repracen"ni of a described capitalirnprovenent, t:i:1.:3_ _Èon tne conmuniry Areas or comnuniryFaci)' ities , . i?"luding the ""."="äiv f i.xtures and .personarproperty rerated the're{or or for such other purposes as Èhe Boardof Trustee= rnay considår appropriate, provided that any suchÀssessment shaù r,u*--tir" asseñt of the Members representingfjllf :ol" p"f::"t (;li I -"r rhe rhen Members or rhe Àssociarionentitled to vote. ÀïJ"ii"g-;i u,J"uå*¡"r= shalr be dury calred

i

E^r this Þurpose, vritten noticeitã*¡"t= .Ë läast ten ( 10 ) d"YF,ä;ys, iD advance of such meeting,itä i"tpo"" of the meeting.

of which shall be sent to allbut not more than thirtY (30)

which notice shall set forth

D. Reserve- f çr Replêcement,s. The Àssociation shatl^.rablisn and ¡nalñtain a reserve fund 'for replacements by theiiiããátio" and pa.yment nonthly to such reset:ve fund of an amouht

.;- Ç designatåA- from time to ti¡ne by tÞ" Bo¡trd of lPrustees.;;"h fund s-hatl be conclusivety deerned. Èo be a Com¡non Expense ofil;'- association and shall be deposlted r¡ith a bank or other;i;";;;1 institution, the accounLs of whlch are Ínsured by ana.êncv of the United Stat,es of Ameríca or may, at the discretion

"i-'l;" - soira of Trustees, be invested Ln obllgations of , or

I"ffV guaranteed as to principal by, the United States of¡,rãii"ã. The reserve ior reþIacelnents may b9 expended only forthe purpose of effecting the replacement, of the Common Àreas and

õã**ån :Fac|l-ttieg, dredglng anã ¡nalntenance of the Waterways,;;t;r repairs to any sireets or roadways devqloped as part ofpãít- r,orjis (including the access roaã to La. Highway 22\ ,åquip.."t,. r*pLacementl - and f or . operating cont,ingencies of a

nonrecurrrng i¡ature. The propoitio¡iate inierest of any Hember inany resets/e for replacements -shalI be consídered an appgrtgnanceoi'ni= Assessabl-e Unit and sha}I noÈ be separately withdrawn,assigned or transferred or otherwise separated from theAsseisable Unit t.o which ít is appurtenant and sha1l be deemed tobe transferred with such Àssessable Unit.

E. ÀsFessment Ce-rtificates. The Àssociation shalL upondemand at anY time furnish to any Member liable for anyAssessment levied pursuant to this eiticle (or teny other EaTtylegitimately interested in the same) a certificate. in writingsiqned by an officer of the Àssociation, setting fortlr the statusof said Àssessment, i.e. , v¿hether the same is paid or un¡'aid.Such certificate shaIl be conclusive evidence of the pa1'rnent ofany Àssessment therein stated to have been paid. À charge ncrt. toexäeed Thirty Dollars ($3O.OO) may be levied ín advance by theÀssociation for each certificate so delivered.

F. N,o Waiver. No Owner of any Àssessable Unit nay e>:empthimself tronr fialif ity for any AsseJsment levied against him. orhis Àssessable unít' uv r¡aivei of the use or enjoyment of thepropert,y of the Àssociation held for the use and enjoÏmenÈ orbenãtit of at1 Mernl¡ers of the ÀssocÍation or by abandonment ofhis .â,ssessable Unit or in any other way.

G Tnr:rease i n Itlaxi mrlm Àecar=ernon*

l-. The maximun Annua1 Àssessment f or all - Mernbershere j-nabove provided. f or , may be increased by the Board o fTrustees of Lne Associatibn, toitfrå"t

-u voÈe of t'ne mem'¡"¡er -i'*¡-,

by an amount up to ten percent ( lot) of the naximum À:nnualAssessnent for the preced,ing year.

2. The maximum annual , assessment for all Hembershereinabove provided for may be increased above that establishedbv the preceding paragraph by a vot,e of Flembers r ês hereinaf terpioviaed, for the next succeeding year thereafter and, at the endôt such year, for each succeeding year. Any change ¡uade pursuantto this paragraph shall have the assent of fifty-one percent(El-t) of the then Members of the Association entitLed to vote. ÀrneeÈing of the Hembers shall be duly callt d for this purpos'e,written notÍce of which shall be sent to all members at least ten( 10 ) days Ín advance of such rneeting, whi :h notice shall s.etforth the purpose of such ureeting.

ÀRTICLE XT

Def ault in Pavment of Às¡;ess ment

A. Non-Pa{ment _of Assessment. Àn' Àseessnent levledpureuant to thls Àrtlcle, or any lnstallme rt thereof, whlch lsnot paid on the date when due snãlI be deli¡rç[ueht. The personalobligation of the Mernber to pay such Àssesslrent shaLl remaÍn hispersonal obligation and a suiÈ to recover a money judgrment fornon-paYmeirt, of any Àssessment Levied pursuan: to this Articler orany ínstallment thereof, Ððy be naintãined b¡ Lhe Àssociation

. Àny Assessment levied pursuänt toinstallment thereof, which is nót paid witafter it is due, Dây, upon resolutfon o: tlbeaf intefeS'!..,ú cl !.-¡LE J¡oi: Ëoannum, and may aIso, by resolusub j ect the ì.Ienrber obl igated to

Àssociation shalL notify the holder. of t heÀssessable Unit for which an Àssessment fe.Àrticle becomes delínguent for a period indays and in any otbe,r case wherd the (,h¡neUnit is in default vith respect, to the lerobligation hereunder for a þeriod in ãx:es,but any failure to give such not,ice shall ncof any Àssess¡nent Ievied or to be leviArticle.

The Board ofare delinquent in thewhich nay be due thethereof r.¡hich beconeswithin the comnunity.

this ÀrticLe or anyrin thirty (3o) dayse Board of Trustees,

exceeo, j.wel ve Peruc.iìc ( 12+ ) pertion of thr Board of Trustees,pay the sa ne to the pà1ment of

Lawand the

Hember

:irst mort,gage on anyied pursuant to thisexcess of sixty (60)r of such Àssessableornance of any otherof sixty (60) days,

E, affect, the validityrd pursuant to this

such other penalty or ttlate char erras tle E >ard may fixÀssociation may bri on a ôersonally obligated to the same n whlch event suchinterest, penalties, I charges, cr sts and reasonableattorneys / fees of not Iess than twenty per:ent (20t) of the sum

to the amount lf :he Àssessment. Theclained shalI be added

nacpay

ate

Trustees nay posb, a List of Members whopayment of any Asse:sment or other feesÀssociatl-on, inr:}u' lng any installmentdelinquent, in an) proninent 'l-ocation

B' ' JPon default in thepalment of any one or more nrontfrly-TnãaLl¡ne rts of any Àssessment

, ^r' i ed pursuant to this Àrticle , oril-.á"t, the entire balance of said Àsses

"i-ln" option of the Board of Trustees

iãyunre in full '

anv other installrnent=reñt maY be acceleratedand, be declared due and

c. Additi,-pnal Def-au1t. Àny recorded f irst mortgage

secured on an ¡ssesià¡re unit shart provlde that any default, by

--he mortgagor in the payrnent of any Àèsessment levied pursuant to;;îr'- Àrii.1", -ã. á"V inst,alfment, thereof , shalL likewise be a'

åTiã"i[ i" such rnortlage (or the indebted.ness secured thereby) ;

;;;--r.itot" to incfúaã sricÞ. 1. Provi-sion in any such nortgageãrrãf i not af f ect the validit! of such mortgage (or theinau¡t"¿ness secured therebY) '

D. Lien. In additÍonal to any and alL other remedies;hich rlay Ue afforded to the Àssociat'ioir ln these Bylaws or under;;,;-;ppiicable Iaws of the State of Loulelana ln order to.protectrnd presefve the interests of all I'fembers of the ÀssocÍation, thei,r=.ãi.tion may fiLe a claim of a lien on each O¡rner's fee sínpleï"iãiã"t-i" srrãh owner's Àssessable Unit and. Lot to secure monÍes;;; for. all .Assessments, annual or special , ' for or hereafterfã"i.a against the Owner of Owners. Said líen shal} aLso securej.;t;;;=i, if âilY, on delinquent Assessments rr installments andaII costs or expenses, in?tuOing a reasonabLe attorney^ts-feei'r,i"i, nay be incürred by the ¡.ssóciation ín enforcin-g this lien"giinut Lach Àssessable- Unit and Lot. The lien filed by the:.isociation may be foreclosed in tkre same manner as real estate:rortgages may Þe forcclosed in the State oJ Louisiana and t'he¡ssoóiátion è¡af1 be entitled to appointment of a. receiver -for'.-rt.::.-l'" ---':L ^ -..- -: *-:;Ì:*.r.and the tien granted.tothä Àssociation shall secure all .6v¿¡t:es nad': by the Associationto protect and preserve its lien ;rnd. inl erest on all suchaovances at the naxi¡num rate per¡nitted by Lou siana 1arv.

Àny lien filed by the Àssociation shal be effective from¡nd af{er the tiine of recording in the pul lic records of St'':'3nmany Parish, Louis iana , of a Cl-aj-n o1 Lien stating theoescriþtion of the Assessable Unit encu¡nbere I thereby, the. naü¡eof thä Or.¡ner, the arnount of any delinq rent Àssessment' orÀssessments, and the date vhen due, and, the lien shalL continuein effect uhtif all sums secured by said, lierr as hereín providedsha.ll have been fully paid and sn.ti lien shal L further secure alladditional Àssessments vhich may become' due and payablesubseguent t,o the recording of any ðtai¡n of Lien. Àny Claim ofLien ifratf be signed and vãrified- by an Offj cer or agent of -theàssociation and shall be duly reieased o¡ record upgl- {ul1payroent of the sums secured thereby. The CLai¡n of Lien filed ovihe Àssociation shall be subordinaie to the lien of any mortgagecr other lien recorded prior t" - tfr. ti¡ne of recording theÀssociation's Cl-aim of Lien

E. Lavsuit. Institution of a suit at law to attempt toeffect coiJãã[6n of the payment of any delinguent Àssessment:hall r"t U" deened to be "i.åiiãn by tñ;'Àssociation which shall

liihil

Iiril

riii

!llr

"llI

ti

$

h

*'

:r:event- iÈ:. thereafter or simultaneouslf seeking enforcement of'rr.u corlection of .any sums rernaining owing to it by rorectoãurå,.'rt sha.I1 proceeding by foreclosurã to ittempt to ef tect -ãili

f

:cl I ection !e dee¡ned an election precJ.uding Ltre subsequ""C -ã=Iiruftaneous ^

institution of suit åt law tó aÈternpt, tó árt"ãl::llection of any sums then rernaining owing to the ¡,ssociatlon.

F. äonds.-- Fidelity bonds uray be regrrÍred by the Board of:rustees from arL offlcers and enpLoyees ór the ÃssocÍatñ; ;;* f other. ag.ents or contractors nairafing or responsible fõi-'tfrl¡,ssociation's funds ' The anount oi such -bonds shaLl Ë".icternined.by the Board of Trust,ees, but shall" in no event betcss than $roo,000.oo. Th-e premiums 'on such bonds shatrl be puiaby the Àssociation and sharl -be . p"=C of the common Expenses. rtil

*Rules and Requlations ,,

À' ' ' Àdoof i-on ' The Board of rrus't""s nay in itsJiscreticln, and shalt at the dirãctiori ot members rroi¿íing iirtv-one percent (sr.t) of the rotar votes ãi trr" Àssociati;;; -ád;;i-å,¡nend reasonabre ruLes and- reguration"

"àt,""""ittg itt" details ofoperatlon and use of ¡¡".'!iã;;il;r, inctuding maintenance,conservation, and beautification of the property and f,or thel'ial-th, comfortr - safety, and g".,árJ verfare of the owners. The-\-:-**-ùn shall have- the auitroriiy io deny use, occupancy, and!'ossession of the community Areas oi õonrnunity racilitLes iå ã"vowner or trustee. or occupañt vhile ir,.v are i; "i"iãiiåI-oi""iär.i.r:1es and Regulations

B' Notice' written notice of the adoption or amend,ment ofsuch ruLes and regulations 3nd a ""pv-anereof sharl be furnis;hedi o each owner pribr to their efrecËive date, and a copy of the';trr-rent rules "19 reguration¡ applicatte to the property sharr be;;aintained at arr. tiñes i; tr¡e iäcðiã=-or the À,ssociation.

ÀRTTCLE XTI

ÀRTTCLE XTTI

I

ïndemníficatlonÀ' General. The Àssociation shall índernnify and hold.:ottlu== eiõ or its irustees and of f ícers and the Board of' rustees und

_ t!:. oevel Jp-e.r against arr contractuar and oth__-i¡biÌities to orhers

"ii!i'g;;t';; ånrracEs made by, or orherects of , such . fn¡sl.;;;- Board. of T:rrstees, officers or thei:i!i!'"":,f+;ffii';;ä...:î:#s::=r.;1"J,,'=åtn,iJ*n;:liï:.it"=r=r¡;t such "orrit""t ìr act sr¡aít hu,r" ] en ¡nade fraudulent,ry:ï"Ti¡i'""fr:i] !"_if i*;l:.r,,Jå,.,üî:äÈï,,* .#;"=* ;r, "i:::-¡ ¡!¡ expenses (incruainé, but not 1irnitec to, counsel f ees

llamounts of judgr-ments paid, and amountr; paid in settlernent)reasonabry incurred in connection wÍth th: defense of any ;i;ï;,act i on , ..s.uit, ot proceeding, wheti "r civil , criminiradninist_rative, o! other in whi.cñ' any suc-r inde¡nniiiea tarlt';;iþe invorvea- - þv virtue of such pafty b ring or havini uáen -arrusÈee, officer, Board Member -or 'th. Däveloper, lrovided,hov¡ever, that, such indennity shalL be op,:rative witfi råspect-ibanY -tnat_te5 as to'which such persons si.att have been iinallyadjudged ii, such action, suit, ox proc"rding to be liabre iã,gross negligence or fraud in the p"itor-¿rnce of his duties as aTrusÈee, officer, Board Member or the Developer. Expensesincurred in defendin-g a civir or criminar adtÍon, r"ä, -å,proceedi{¡g uay^ be paid by the Association in advance of the iinafdisposition of such action, suit, gr pro""åainf J" authorizea uythe Board of Trustees in _any spectfið case, upon r"ceipt -of

ãtttundertaklng by or on behalr of -rht tna"^ntïteã-là"lv- ff io*nåoto repay such a¡nount unless lt shalr be ultirnäter! det,ernined,that the indemnified party is entiirãa to be igdemnified -by-Ëù"

Associatíon as authorized herein. - Th; e==o"i"l.fãn' una its Boardof rrustees sharl have power and responsiuirüv to raise, Èyspeciar .assessment or ottie¡:vri9?;-;ny sums requlred to d,ischargeits obtiçjation under rhis .ertiårei''pro.rided, ¡row"vJi ï¡i;¿'*ii"liabitity of any or+ner ar_ising out br any contract, made by orother acts of the indennif-i"a -part1." shall be li¡nited to suchowners' percent,age of riabiritv ^rãiirrl coÍrmon Expenses.Þ' A Kenresent.ativq caÞacity. Àn]z agreement made by theTrustees, Board of truJEeeÇ-õäi."r, or the Developer, onbehalf of the owners and the essoãiatic n. may provÍde .that theparties rnaking -such agreernent are actinr 'on1.y ã='Liä=";'j;; ;;,bhe owners and the Associati¿; ;;à sharl have no personarliabil-ity thero.und"r (except'as orr,ãiå , I f açplicable) , and thateach owners' li?li}+!y fher"und;;--=rru: r b= ri¡nited to suchowners, share of liability for the èornro' Expernse.c. The Índemnifica tionprovided by this Àrt icle shal I not be rteemed exclusÍve of anyother rights to vh ich those seeking inde¡nnif ication Day beent,i tled under any statute, agreement, vote of me¡nbers of theÀssociation or disi nterested me¡nbers of t.he Boardr oR othervise,both as to actlon in an o iciat capae: .ty or as Èo act,ion in

fica'Eion shall continueffanother capacity. Such ri sht to indemnias to any person or entity l¡ho has ceased to be a neruber of aclass specified hereunder entitLed to indeurniflcatíon and sha 11lnure to the benefits of the helrsr êx€cutors, administrators,persona I representati ves, successors, and assigns of such personor enti Èy.

ARTTCLE XTV

Notices

Àny notice required by these Bylaws or byA. Del iverr¡

p'1

Iaw to b9 given in writing by any ownerAssociati_on ,or its Board -of fru;te;s olits Board 9I Trust,ees to any Owner, Mementity s,ha]1 be deemed suf f icÍent if ,

depos itef ,in the United States ¡l"ffl raddressed to the registered offLce oi tÌ.øith the Louisiana Secretary of State, .r,such Owner, Àssociation ¡oe¡nberr or otherrecords of the Àssociation.

:o another Owner or theby the Àssociation or

êEr or other person or:Llvered personally orgisterel or certifÍed,: Àssociationr ãs filedto the last address bf

)erson appearing in the

ÀRTICLE )rvr

Àrnend¡nents :

the Bylaws sha1l be proposed, and, adopted

B. waiver. À written waiver o.. any requlred notíce,executed by the person or persons entitleä to sucl¡ not,icewhether executed before o! ãrter the regtrlreã- ti¡ne for -itånotice, sharl be deemed equivalent to-itr" ;.q"r;;ã notlce

ÀRTTCLE XV

. parl, iamentarv Rule 1 , .,

- B,pbe,çtsr_Rules. of ordÊr - (rat,est edition) shalr govern theconduct of Àssociation proceeaing= -*rr"r not in conflict. wiLh theÀct' of Dedicating the eitlcles "i- r"åãrporation, or these Bylawsor with the laws of the stat,e ot iouiãi"r,u.

i1

Àrnendrnents toin the fotlowing manner:

À. Notice of the subjecÈ mattershall be includ.ed in ttle notice ofproposed amendment ls consider"á.--of

anya proposed amendmentmeetíng at r¿h i ch a

B' À resolution adopting a proposed amendment nust receiveapproval by a vote of seventli-fi;;-ietcent (7st) of the entiretnenbership' llembers not present at, Ëne rueetings conslderÍng theamendment may express rit:i¡-""pËi"rår in ,r.ittng rhereaf ter.until the flrst el-ection tr tr"iãã='Ëv the members at an annual:: ¡f;:ï*=Ë;S:nn' Bvlaws nav be approvea by rhe unanimous vore

c ' Àn a¡nendment rnay - bl proposed by either the Board ofTrustees or by any Memher of the Association.

; : - D: . Ne :n:;d;e;t sharl d,iscriuinate against any ownerj:":Ï11ng jle Developer) or against any Àssessable unir òr classui group of Àssessabre Ùnits u'rnË"ï tî" owners so af fected, shaLrccnsent.

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The foregoing were adopted as the bylaws of Port Louisowners Association, Ine., a non-profit corporation organized ,

under the laws of the State of Louisiana, at the first meeting oflthe Boärd of Trustees.

Jr"eDÀTED this 17th day of ;lu:a¡, L988.

ÀPPROVED ¡', i¡,¡i.ii' ¡, t: r.ii'.r:i

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PRESTDENT.;i ,i i it'':" 'i 'l :.!r

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