Page 6 - Kings Point Property Owners Association - 2012 By-Laws

(c) As more fully provided in the Declaration, to:

(1) fix the amount of the annual assessment against each Lot at least thirty (30)
days in advance of each annual assessment period;

(2) send written notice of each assessment to every Owner subject thereto at least
thirty (30) days in advance of each annual assessment period; and

(3) foreclose the lien against any property for which assessments are not paid in
accordance with applicable law.

(d) Issue, or to cause an appropriate officer to issue, upon demand by any person a resale
certificate setting forth whether or not any assessment has been paid and containing any other
information allowed by law. In accordance with applicable law, a reasonable charge may be
made by the Board for the issuance of these certificates. If a certificate states an assessment has
been paid, such certificate shall be conclusive evidence of such payment;

(e) Procure and maintain adequate liability and hazard insurance on property owned by

the Association and directors and officers liability insurance providing coverage for all current
and former directors, officers, committee members and designated employees, if any, as well as
any other insurance deemed appropriate and commonly available;

(f) Cause all officers or employees having fiscal responsibilities to be bonded, as it may
deem necessary or appropriate. The Association shall pay for the premiums on such bonds;

(g) Cause the Common Area to be maintained;

(h) Comply with applicable laws affecting the property owners' association; and

(i) Exercise such other and further duties as provided in the Declarations and the Texas
Non-Profit Corporation Act.

ARTICLEVIfi

OFFICERS AND THEIR DUTIES

Section 1. Enumeration of Offices. The officers of this Association shall be a president
and vice-president, who shall at all times be members of the Board of Directors, a secretary, and
a treasurer, and such other officers as the Board may from time to time by resolution create.

Section 2. Election of Officers. The election of officers shall take place at the first
meeting of the Board of Directors following each annual meeting of the members in accordance
with applicable law.

Section 3. Term. The officers of this Association shall be elected annually by the Board
and each shall hold office for one (l) year unless he or she shall sooner resign, or shall be
removed, or otherwise disqualified to serve.

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