Page 9 - Kings Point Property Owners Association - 2015 By-Laws

ARTICLE X
COMMIl-]'I'ES

The Association shall appoint a Nominating Committee, as provided in these By-laws. [n
addition, the Board of Directors shall appoint an Architectural Committee and other committees
as deemed appropriate in carrying out its purpose.

ARTICLtr XI
IIOOKS AND RIICORDS: tNSPIIC'IION

Section 1. The books, records, and papcrs. including flnancial records, of the Association
shall be open to and reasonably arvailable fbr e.xamination by an Or,vtrer, or a person designated in
a writing signed by the Orvner as the Owner's agent. attorney, or certified public accountant

under the terms and conditions o1' applicable lau'. Thc location shall be designated at the

discretion of the Board of I)irectors.

Section 2. The Board lnay' charge for the costs of cor-npilation. production, and

reproduction of the infbrmation requested by a rnernber as allowed by the Texas Property Code

and in accordance with its Reproduction Cost Policy. The Declaration, the Articles of
incorporation and the By-laws of the Association shall be available for inspection by any

member at the principal office o1'the Associatiorr or at an alternative locatiori designated by tlie
Board, where copies may be purchased at reasonable cost.

ARTICLT], XII

ASSESSMENl'S

Section l. As more fully provided in the Declaration, each member is obligated to pay tcr

the Association annual and special assessntenls, which are secured by a continuing lien upon the

property against which the assessrnent is made. Any assessments not paid when drte shall be

delinquent. lf the assessrnent is uot paid r,vithin thirty (30) days atler the due date, the

assessment shall bear interest from the datc of delinquency at the rate of eighteen per cent (18%)

per annum, and the Association may bring an action at law against the Owner personally
obligated to pay the same or foreclose the lien against the property, and interest, costs, and
reasonable attorney's fees of any such action shall be aclded to the amount of such assessment.
No Owner may waive or otherw'ise escape liability for the assessments provided for herein by

nonuse of the Common Area or abanclonment o1'his or her I-ot.

ARTICLE XIII

CORPORA'|E SEAL

The Association rvill have a seal in circular fbrm having within its circumference the

words: "Kings Point Property Olvnet's Association. Itrc."