STATE OF SOUTH CAROLINA ) )

COUNTY OF GREENVILLE )

BOOK: PAGE: - - - - - -

AMENDED AND REST A TED DELCARA TION OF COVENANTS, CONDITIONS AND RESTRJCTIONS OF ANDERSON EXCA VA TTNG, INC.

CASTLE ROCK SUBDIVISION

THIS AMENDED AND RESTATED DECLARATION, made on the date hereinafter set

forth, by at least 75% of the Owners within the Castle Rock Subdivision Phases One and Two as

well as the Developer:

WITNESSETH:

WHEREAS, Anderson Excavating, Inc. ("Developer") was the owner of certain property .

in the County of Greenville, State of South Carolina, which is more particularly described in Plat

Book 48-I at Page 87 recorded on July 16, 2004 in the Register of Deeds Office for Greenville

County, South Carolina and incorporated herein by reference.

WHEREAS, Developer filed on September 13, 2004 the Declaration of Covenants,

Conditions and Restrictions of Property of Anderson Excavating, Inc. Castle Rock Subdivision,

which was recorded in the Register of Deeds Office for Greenville County, South Carolina in

Deed Book 2107, beginning at Page 1611 and filed on February 2, 2007 the Declaration and

Imposition of Restrictive Covenants Castle Rock Subdivision Phase Two, which was recorded in

the Register of Deeds Office for Greenville County, South Carolina in Deed Book 2249

beginning at Page 1440 (collectively referred to hereafter as "Original Covenants").

WHEREAS, Developer developed a single-family residential subdivision, and in

connection therewith desires to ensure the proper use, development, and improvement of such

property so as to protect the Owners and Occupants of lots therein by restricting the use of all

lots for purposes consistent with the overall development of the Subdivision in an attractive and

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AMEND/REST Book: DE 2458 Page: 4842 - 4866 g• January 2 7, 2 015 02: 17 : 03 PM Re c : $31 . 0 0

FILED IN (3REENVILLE COUNTY, SC ·C-4 /. ~>i-7r/

desirable manner and by encouragmg the erection of attractive, harmonious improvements

appropriately located in the Subdivision.

WHEREAS, Developer declared that all of the property described herein above shall be

held, sold, and conveyed subject to the easements, restrictions, covenants, and conditions as

originally set forth in the Original Covenants, which are for the purpose of protecting the value

and desirability of, and which shall run with the real property and be binding on all parties

having any right, title, or interest, including any leasehold interest, in the described properties of

any part thereof, their heirs, successors, and assigns, and shall inure to the benefit of each Owner

thereof.

WHEREAS, the Original Covenants provided that they could be amended by an

instrument signed by at least seventy-five (75%) percent of the Owners together with the consent

of the Developer in the event the Developer is still the Owner of any Lot covered by the Original

Declarations.

NOW, THEREFORE, A minimum quorum of 10% of the Home Owners in attendance,

as set forth in the South Carolina Non Profit Act, with a majority vote herby amend and restate

the Original Covenants as follows:

ARTICLE I

DEFINITIONS

SECTION 1. "Owner" shall mean and refer to the record owner, whether one of more

persons or entitles, of a fee simple title to any lot, or any portion thereof, which is a part of the

properties, but excluding those having such interest merely as security for the performance of an

obligation.

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SECTION 2. "Occupant" shall mean any person or entity that occupies, or has the right

to occupy, all of any part of any lot which is a part of the properties, whether such occupancy or

right of occupancy is based on ownership, lease, license, or easement. If property is rented or

leased, the owner shall notify the Horne Owners Association (HOA) and provide contact

information for both owner and tenant. This information shall be maintained until the property is

no longer leased.

SECTION 3. "Properties" shall mean and refer to that certain real property hereinabove

described.

SECTION 4. "Lot" shall mean and refer to any plot of land shown upon any recorded

subdivision map or development plan of the properties with the exception of dedicated streets

and roads.

SECTION 5. "Association" shall mean and refer to the Castle Rock Homeowners

Association, Inc.

SECTION 6. "ARC" shall mean and refer to the Architectural Review Committee.

ARTICLE II

HOMEOWNERS' ASSOCIATION MEMBERSHIP

SECTION 1. Every Owner of a Lot in the Subdivision shall be a Member of the

Association, shall be subject to an assessment by the Association, and membership shall be

appurtenant to and may not be separated from ownership of any Lot. The Association shall be

responsible for all common light, the maintenance and operation of all Common Areas including

the entrance and road frontage, and other such items that the Association shall determine. The

assessment will be on an annual basis and the HOA Board may increase the assessment as

required but not to exceed a 5% increase per year. The basis for the assessment will be $183.75

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(Value to Be Approved at the 2014 Annual Home Owners Meeting) per year for the calendar

year 2015 . Failure to pay the assessment shall result in a penalty of 1 % per month until the

balance is paid in full. The HOA Board shall have the right to hire a collections agency if

required. The Association may bring an action at law against the owner personally obligated to

pay the same or an action to foreclose the lien against the Lot, and there shall be added to the

amount of such assessment, the interest thereon as above provided, plus reasonable attorney' s fee

and the costs of the action.

ARTICLE ID

USE AND IMPROVEMENTS RESTRICTIONS

SECTION 1. USE OF PROPERTY. Each Lot and the residence and

Improvements thereon shall be for the following uses and subject to the following restriction.

(a) The residence erected on any Lot shall contain not less than the following

amounts of heated space, excluding garages, porches, and veranda:

(I) Single -story residence - 1600 square feet;

(II) Two-story residence - 2000 square feet; The first floor - 1200 square feet minimum;

(III) . One and one-half-story residence - 1800 square feet; The first floor - 1200 square feet minimum

(IV) Basement residence with one level above ground 1600 square feet on first level above ground.

(V) Home shall be no taller than two-and-a-half stories on the street side and no more than 5,000 square feet.

The residence shall be stick-built (modular or prefabricated residences prohibited), and

shall have a minimum of a two-car attached garage with sufficient space for parking of two (2)

automobiles. Block and poured foundations may be used, only if faced with brick or stucco.

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Exteriors can be any combination of Hardi-plank, brick, stone, wood, shingle; however, stucco

may not comprise more than 20% of the total exterior surface area. Colors shall be earth tones

and natural colors to help homes blend into the surrounding landscape. Colors for new home

construction must be reviewed and pre-approved in writing by the ARC. Requests to change

house and trim colors must be approved by the Archjtectural Review Committee established by

the HOA Board of Directors.

(b) No residence erected on any Lot shall be located nearer than twenty (20) feet to

the front Lot line, nor nearer than ten (10) feet to the side and rear property lines.

(c) Utilities provided to any Lot shall be placed and maintained underground.

(d) Each Lot shall be used solely for residential purposes as a detached, single-family

residence, and no Lot shall be subdivided, except that an Owner, with the prior, written consent

of Association, may sell and convey a portion of any Lot to the Owner of an adjoining Lot

provided that any such sale of a portion of a Lot does not result in the creation of another Lot of

a greater number of Lots than shown on the above-referenced plat of survey. In any such sale of

a portion of a Lot, the portion shall merge into and become a part of the adjoining lot and the

restrictions herein set forth shall apply to the Lot and portion of a lot as though they were

originally platted as one lot.

(e) No immoral, improper, offensive, or unlawful use shall be made of any Lot, or

any part thereof, and all valid laws, ordinances, and regulations of all governmental agencies

having jurisdiction thereof shall be observed.

(f) No temporary structure or mobile home of any kind shall be maintained on any

Lot at any time.

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(g) No industry, business, trade, occupation, or profession of any kind, whether

commercial or otherwise, shall be conducted, maintained or permitted on any Lot or any part

thereof and may not generate excessive traffic that causes a disturbance and must be an ancillary

to use of the residence and must be the principle residence of the owner. No trade or occupation

may use any outside storage or create any noise or disturbance.

(h) Any "Vehicles" must be parked only on the paved driveway of each Lot. No

Vehicle may be parked at any time on a street right-of-way except for short-term parking for

visitor automobiles. Temporary overnight parking will be allowed and limited to one week. If

extended on-street parking is required, the Owner must notify and obtain written approval from

the HOA Board. At no time shall access of emergency vehicles be impeded by on-street parking.

Vehicles shall not be stored within the development. A "Vehicle" is any wheeled machine used

to carry people or personal property including, but not limited to, automobiles, trucks,

motorcycles, vans, boat trailers, golf carts, trailers and campers. Only trailers that are used on a

daily basis are permitted on the Lot.

(i) No inoperative or immobile Vehicle may remain parked on a Lot, as specified in

(h) above, for a period of longer than twenty-one (21) days.

(j) No animals shall be kept, maintained, or quartered on any Lot in the subdivision

except for normal domesticated pets kept for the pleasure of the Owners. No more than two

outside pets are allowed . Owners shall not quarter pets of any kind for commercial purposes.

Horses, goats, chickens or any other farm-type animals are prohibited. All pets shall be kept in

fenced areas or on leashes. All Owners are responsible for prompt removal of pet waste from

theirs and any other property. Pets may not disturb the quiet enjoyment of the neighbors.

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(k) Fences shall not extend beyond the front of the house. Fences shall be wood,

plastic or metal. Chain link fencing is prohibited. All fences must be per-approved by the ARC

in writing.

(l) Any outbuildings placed, and/or additions to the original structure or outbuildings

on any Lots shall be of good workmanship, and conform to the appearance of the main residence

in materials including siding, shingles and colors. Outbuildings must be permanently attached to

a foundation and be landscaped to match the main house.

(m) Mailboxes shall conform to the adopted mailbox design for the subdivision

including materials, color and location.

(n) Doghouses shall conform to the appearance of the main residence.

( o) The maintenance or operation by any Owner of any vehicle in the subdivision

with a loading capacity of more than two (2) tons is strictly prohibited.

(p) Garbage containers and receptacles maintained on any Lot shall be located to

minimize visibility from the street. Garbage, trash and waste must be placed in garbage

containers or receptacles and removed from the subdivision at least weekly. The Association

may contract with a garbage or waste collection company to remove the garbage, trash and

waste. If the Association contracts with a company, Owners shall use only the contracted

company or as an alternative may choose to transport their own garbage to a collection center.

Use of an alternate service provider may violate the contact and make the Association liable for

fees and lawsuits. Each Owner shall pay the selected company its approved rate for removal or

be responsible for removing the garbage, trash and waste.

( q) Any satellite dish of similar receiving device shall be no larger than eighteen (18)

inches in diameter and located toward the rear of the residence so as to minimize visibility from

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the street on which the Lot faces and limited to two dishes and should minimize visibility from

roads that are adjacent to the actual Lot.

(r) No above ground swimming pools are permitted. Hot tubs shall be located within

the patio and/or deck footprint.

(s) No sign shall be erected on said Lot or posted on any building with two

exceptions 1 - (1 each) "For Sale" or "For Rent" or "Sold" sign which shall not exceed two feet

by three feet in dimension. 2 - (leach) security sign, advertising signs for contractors performing

work for a home owner will be removed upon completion of the work.

(t) All Lots to be sodded or seeded with either fescue or bermuda and landscaped

within six months of occupancy. Lawns shall be mowed to a height of less than four inches

Landscaping must be neat and trimmed and clippings removed unless a mulching mower is used.

Clippings may not be blown or put into the street. All materials must be properly bagged.

Landscaping plans must be pre-approved by the Architectural Review Committee in writing.

(u) Vacant Lots and common areas shall not be used for active recreational purposes.

(v) No recreational discharge of any weapon will be allowed on common property

and/or Lots.

(w) Trees larger than 6 inches in diameter shall not be planted or removed without

prior written approval from the ARC.

SECTION 2. QUIET ENJOYMENT. No obnoxious or offensive activity

shall be carried on upon any Lot, nor shall anything be done which may be or may become a

nuisance or annoyance to any resident or residence within the subdivision.

ARTICLE IV

DRIVEWAYS

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Each Lot shall have constructed thereon a paved driveway the surface thereof to be

composed of concrete, or brick pavers. Each driveway must have a minimum length extending

from the curb of the street faced by the Lot on which the driveway is situated to a point parallel

with a front corner of any residence constructed on that lot. Construction of driveways shall be

the sole responsibility of the Owners and any construction on a particular lot must be completed

before any Owner of that Lot may begin using the same as a residence. An Owner shall be

responsible for repairing any damage to the curb in the installation of his driveway.

ARTICLE V

COVENANTS OF OWNERS TO KEEP IMPROVEMENTS INSURED AGAINST LOSS

TO REBUILD, AND TO KEEP IN GOOD REPAIR

SECTION 1.

(a) Each Owner shall, at his own expense carry adequate hazard and homeowners

insurance policies insuring the residence and improvements on his Lot.

(b) In the event a dwelling or any improvement on a Lot is damaged or destroyed, the

Owner thereof shall begin repair or reconstruction of the dwelling or improvement which shall

be completed within a reasonable time. In the event a dwelling or improvement is damaged or

destroyed, and the Owner does not begin repair or reconstruction with forty-five ( 45) days

following damage or destruction, he shall remove or cause to be removed, at his expense, all

debris from the Lot so it shall be placed in a neat, clean, and safe condition.

ARTICLE VI

GENERAL PROVISION

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SECTION 1. ENFORCEMENT - The Association through its Board of

Directors and any Owner shall have the right to enforce, by any proceeding at law or in equity,

all restriction, conditions, covenants, and reservations now or hereafter imposed by the

provisions of this Declaration. Failure by the Association or any Owner to enforce any covenant

or restriction herein contained shall in no event be deemed a waiver of the right to do so

thereafter. The failure of the Association or its Board of Directors to enforce any provision of the

Declaration, Bylaws, or Rules and Regulations, shall not be deemed a waiver of the right of the

Association or its Board of Directors to do so thereafter.

SECTION2. FINING POWERS - After notice and an opportunity to be heard,

the Board of Directors shall also have the power to impose fines in an amount not to exceed One

Hundred Dollars ($100.00) per violation, the amount of $5 .00 to be assessed per day for a

continuing violation that is not resolved as outlined in the violation letter that initiated the

$100.00 fine. For any violation of any duty imposed under the Declaration, Bylaws, or Rules and

Regulations duly adopted pursuant thereto against Owners of occupants, which fine(s) shall

constitute an assessment against the Lot and become a personal obligation of the Lot Owner, and

a lien upon the property; to suspend an Owner' s right to vote. SECTION 3.

ENFORCEMENT PROCEDURES - The Board of Directors or its designated

representative or committee shall not impose a fine or a charge for damages against a Lot Owner

unless and until the following procedures are followed.

1. Demand - Written demand to cease and desist from an alleged violation of the

Declaration, Bylaws, or Rules and Regulations shall be served upon the alleged violator

specifying (i) the alleged violation; (ii) the action required to abate the violation' and (iii) a time

period, not less than ten (10) days, during which the violation may be abated without further

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sanction if such violation is a continuing one or a statement that any further occurrence of the

same violation may result in the imposition of sanction, if the violation is not continuing. The

Board or its designee may demand immediate abatement in such circumstances which, in the

Board' s sole determination, pose a danger or nuisance to safety or property.

2. Notice - Within 90 days of such demand as stated above, if the violation

continues past the period allowed in the demand for abatement without penalty, or if the same

rule is subsequently violated, the Board may impose a fine giving the violator written notice.

The notice shall state: (i) the nature of the alleged violation; (ii) the amount of the fine ; (iii) that

the violator will have the opportunity to be heard by requesting within ten (10) days from the .

date of such notice, a hearing before the Board of Directors or its designated committee to

contest the fine ; (iv) that any statements, evidence and witnesses may be produced by the

violator at the hearing; and (v) that all rights to be heard or to have a fine reconsidered are

waived if the hearing is not requested within ten (l 0) days of the date of the notice

3. Hearing - If the hearing is requested, it shall be held before the Board of

Directors or a committee designated by the Board and the violator shall be given a reasonable

opportunity to be heard. The Board or designated committee shall render its final decision

regarding imposition of the fine no later than five (5) days after the hearing. The minutes of the

meeting shall contain a written statement of the results of the hearing

SECTION 4. SEVERABILITY. Invalidation of any one or more of these

covenants or restrictions by judgment or court order shall in no way affect any other provisions,

which shall remain in full force and effect.

SECTION 5. TERM AND AMENDMENT. The covenants and restrictions of

this Declaration shall run with and bind the land for a term of twenty (20) years from the date

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this Declaration is recorded, after which time they shall be automatically extended for successive

periods of ten (10) years. This Declaration, except as provided in Section 1 of this Article, may

be amended or terminated an instrument signed by with minimum quorum of 10% of the Home

Owners in attendance, as set forth in the South Carolina Non Profit Act, with a majority vote

Any amendment must be properly recorded.

SECTION 6. RESERVATION OF EASEMENT. A permanent easement of

five (5) feet in width is reserved along all lot lines for the installation and maintenance of

utilities. Other Easements will be shown on the plat.

SECTION 7. ARCIDTECTURAL REVIEW COMMITTEE. The

Architectural Review Committee ("ARC") shall consist of the developer and at least three

Owners in good standing. The HOA Board will make the ARC membership assignments. Before

constructing any improvements, landscaping that does not keep with the continuity of the

neighborhood, additions, renovations or changes (including changes to exterior colors and

landscaping changes) to any Lot, Owners must submit a plan in writing to the ARC detailing the

proposed improvements, additions, renovations or changes. The Developer has architectural

control over all new construction until the last lot is sold. The ARC shall respond within 30days

of receipt of the request from the Owners. If plans are not submitted for review and approval ; or

if the plans are submitted but rejected, the Owner will be fined $100.00 per month until the plans

are approved or the improvements, additions, renovations or changes have been removed or

returned to the prior condition before the unapproved improvements, additions, renovations or

changes. This fine shall be in addition to any other remedies the Association or any Owner may

have.

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IN WITNESS WHEtlOF, the undersigned hereby set their hands and seals the date and

year first above written.

The Developer consents to the Amended and Restated De"'aration of Covenants,

Conditions and Restrictions of Anderson Excavating, Inc. Castle Rock Subdivision as set forth

above.

Witnesses:

STATE OF SOUTH CAROLINA

COUNTY OF GREENVILLE

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Signature of Notary Pu · lie of South Carolina My Commission expires: Dk -a(~ ·d.D.4-,1..

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Printed Name of Notary Public IN WITNESS WHEREOF, the undersigned have caused this Amended and Restated

Declaration of Covenants, Conditions and Restrictions of Anderson Excavating, Inc. Castle Rock

Subdivision to be executed effective the~ day of \ f\l..J ,~~·Zoi'?

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STATE OF SOUTH CAROLINA ) )

COUNTY OF GREENVILLE ) PROBATE

PERSONALLY appeared the undersigned witness and made oath that (s) he saw the within named Owner(s) of Lot sign, seal and as his/her/their act and deed, deliver the within written instrument, and that (s) he, with the other witness subscribed above, witnessed the execution thereof.

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Signa~~blic of South Carolina My Commission expires: D'6 /:~~ C;X'0/3

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BY- LAWS OF CASTLE ROCK SUBDIVISION HOMEOWNERS ASSOCIATION, INC.

ARTICLE I.

NAME AND LOCATION OF ASSOCIATION: The name of this

organization is CASTLE ROCK SUBDIVISION HOMEOWNERS

ASSOCIATION, INC. It shall have its principle office in Greer, South Carolina.

ARTICLE II.

PURPOSE: The purpose of this organization is to act on behalf of its

members collectively as their governing body in the administration, maintenance,

repair and replacement of certain parcels of property, together with the

improvements thereon, which are described in and made subject to the

Declaration of Covenants, Conditions and Restrictions for Castle Rock

Subdivision, Greenville County, South Carolina, shown on plat recorded in Plat

Book 48-1 at Page 87, and which are owned or to be owned by the membership

of this association. The organization will also discharge any other responsibilities

assigned to it in the Declaration of Covenants.

ARTICLE 111.

MEMBERSHIP; TRANSITION OF CONTROL:

Section 1. The members shall consist of all owners of lots in the Property,

identified as Article I of Castle Rock Subdivision .

Section 2. Except as provided herein, membership shall not be

transferrable. The membership of each lot owner shall terminate upon a sale,

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transfer or other disposition of his ownership interest and , thereupon, the

membership shall automatically transfer to and be vested in the new owner

succeeding to such ownership interest. The Association may, but shall not be

required to, issue certificates or other evidence of membership therein .

ARTICLE IV.

MEETINGS OF MEMBERS:

Section 1. Meetings of the membership shall be held at such place in

Greenville County, South Carolina, as may be specified in the Notice of

Meeting.

Section 2. An annual meeting of the members shall be held on a date

specified by the Board of Directors. At the annual meeting, there shall be

elected , by ballot of the members, a Board of Directors in accordance with the

provisions of Article V of these By-Laws. The members shall also transact such

other business as may properly come from them.

Section 3. It shall be the duty of the Secretary or upon his failure or

neglect then, of any officer or member to mail by United States Mail , postage

prepaid , a Notice of each annual meeting stating the purpose, the time and

place thereof, to each member of the record , as recorded by The County of

Greenville, ·South Carolina.

Section 4. The presence, either in person or by proxy, of the owners of at

least Ten (10%) percent (as set forth by the South Carolina Non Profit Act) of

the lots in the subdivision shall be requisite for and shall constitute a quorum

for the transaction of business at all meetings and members.

The total number of lots at any given time shall be the total number of Units

which have been shown on plats recorded pursuant to Article I, Section1 of the

Declaration of Covenants.

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Section 5. If at any meeting of members, a quorum shall not be in

attendance, the meeting shall be adjourned and the Board will schedule a

second meeting. At the second meeting a quorum will not be required .

Business may be conducted with those present.

Section 6. Each person who owns any lot may cast one vote for each lot

he/she owns. The Developer may exercise the voting rights with respect to any

lots, title to which is in the name of the Developer.

Unless a different vote is required by express provision of any statute or of

these By-Laws, or the Declaration of Covenants, each question presented at a

meeting shall be determined by a majority vote of at least fifty-one (51 % )

percent of the votes represented at the meeting.

With respect to all elections of the Director, each member shall be entitled to

cast as many votes for Directors as there are Directors to be elected; however,

no member may cast more than one (1) vote for any person nominated as

Director; it being the intent hereof that voting for Directors shall be non­

cumulative.

Section 7. The vote of any corporate, partnership or trust member may be

cast on its behalf by any officer, partner, or beneficiary of such member, and any

such member may appoint its officer, partner, beneficiary or any other member

as its proxy. Any individual member may appoint only his or her spouse or

another member as a proxy. Each proxy must be filed with the Secretary prior to

the commencement of a meeting, or at the time that proxies are called for.

Proxies shall be valid only for the particular meeting designated thereon.

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ARTICLE V.

BOARD OF DIRECTORS:

Section 1. The affairs of the Association shall be governed by a Board of

Directors, which shall consist of five (5) persons, and should be an odd number if

more than the minimum number of board members is selected . Each Director

shall be a lot owner or the spouse of a lot owner; or, if a Unit owner shall be a

corporation , partnership or trust, then an officer or beneficiary of such lot owner.

Directors will serve a 3 year term with , one third being replaced every year. A

home owner can serve no more than 2 consecutive terms as a Director.

Section 2. The Board of Directors shall have the powers and duties

necessary for the administration of the affairs of the Association and such

additional powers and duties as referred to in the Declaration of Covenants. The

powers of the Board of Directors shall include, but not be limited , to the

following :

(a) To elect the officers of the Association from among the elected

members of the Board of Directors.

(b) To administer the affairs of the Association and the Property.

(c) To promulgate such rules and regulations concerning the

operation and enjoyment of the Property as may be consistent with

the Declaration of Covenants and these By-Laws, and to amend

the same from time to time.

(d) To provide for the maintenance, repair and replacement of the

portions of the Property and improvements thereon as set forth in I

the Declaration of Covenants.

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(e) To estimate and propose to the membership an annual operation

Budget, and to provide for the assessments and collection from the

Members their respective shares of the estimated expenses as

hereinafter provided.

(f) To use the proceeds of assessments in the exercise of its powers and

duties.

(g) To purchase insurance on common property and insurance for the

protection of the Association Directors and Officers and its members.

(h) To employ personnel and independent contractors to perform

services required for the proper operation of the property.

(i) To establish an Architectural Review Committee made up from any

home owner in good standing. The committee will have at a minimum 3

members.

Section 3. At the annual meeting of members, Directors will be

selected with a vote of the home owners present.

Section 4: If the minimum number of Directors cannot be maintained for

any reason, including the failure of a Director to continue to meet the

qualifications of office, a special meeting of the Home Owners Association shall

be called and replacements selected. Replacements shall fulfill the remaining

term of the position they are replacing .

Section 5. The first meeting of the Board of Directors shall be held

immediately following the annual meeting of the members and at the same

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place. Special meetings of the Board may be called by the President or a

majority of the Board on fourteen (14) days notice to each Director by mail or E­

mail. Directors may waive a Notice of a meeting or consent to or take any action

without a formal meeting.

Section 6. At all meetings of the Board of Directors, a majority of the

Directors shall constitute a quorum for the transaction of business and any

action may be taken by the majority of those present.

Section 7. Any Director may be removed from office by a majority vote of

the board. Directors shall receive no compensation for their services except as

expressively provided by a resolution duly adopted by the members.

ARTICLE VI.

OFFICERS:

Section 1. The officers of the Association shall be a President, a Vice

President, a Secretary, a Treasurer, and one (1) non-officer members at a

minimum.

Section 2. Any officer or board member may be removed at any meeting

by the affirmative vote of the majority of the board either with or without cause,

and any vacancy in any office may be filled by the Board at any meeting

thereof.

Section 3. Each respective officer of the Association shall have such

powers and duties as are usually vested in such office of a nonprofit

corporation , including but not limited as follows:

(a) The President shall be a Director and shall be Chief Executive Officer

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of the Association , and shall preside at all meetings of the members of

the Board of Directors.

(b) The Vice President shall , in the absence or the disability of the

President, perform the duties and exercise the powers of such

office.

(c) The Secretary shall keep Minutes of all meetings of the members and

of the Board of Directors, and shall have custody of the Association

Seal and have charge of membership transfer books and such other

books, papers and documents as the Board of Directors may

prescribe.

(d) The Treasurer and /or management company shall be responsible

for Association funds and securities, and for keeping full and

accurate accounts of all receipts and disbursements in Association

books of account kept for such purpose. Should the Association

contract with a property management company to keep the books

and records, the Treasurer will be responsible for reviewing those

records and making the results of their review known to the board

members. Such records should be obtained from the property

management company by the Treasurer, and consist of the Balance

Sheet, Income Statement, General ledger (transaction detail by

general ledger account) , Aged accounts Receivable report and

copies of the bank statements. These records should be reviewed

on a monthly or quarterly basis, and should not be considered a

professional audit or review, nor any opinion expressed by the

Treasurer be considered as such.

Section 4. The officers shall receive no compensation for their services

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except as expressly provided by a resolution duly adopted by the members.

Section 5. Board members shall serve no more than two (2)

consecutive terms and must take 1 year off before being eligible to be elected

to the board of directors again.

ARTICLE VII.

FISCAL MANAGEMENT:

Section 1. The fiscal year of the Association shall begin on the first day of

January each year, except the first fiscal year of the Association shall begin at

the date of organization . The commencement date of the fiscal year herein

established shall be subject to change by the Board of Directors.

Section 2. Books and accounts of the Association shall be kept under the

direction of the Treasurer and in accordance with the customary accounting

principles and practices. Within a reasonable time after the close of each fiscal

year, the Association shall furnish its members with a statement of the income

and disbursements of the corporation for such prior fiscal year.

Section 3. With respect to each fiscal year, the Board shall estimate the

amount required by the Association to meet its expenses for such year, including

but not limited .to the following items:

(a) Management and administration expenses.

(b) The estimated cost of repairs, maintenance and replacements

required to be performed by the Association.

(c) The cost of such utilities (if any), as may be furnished by the

8

Association .

(d) The amount of such reserves as may be reasonably established by the

Board including general operating reserves , reserves for contingencies

and reserves for replacements.

(e) Such other expenses of the Association may be approved by the

Board of Directors including operating deficiencies, if any, for prior

periods.

Two to three months prior the end of the year (no later than November) ,

the Board of Directors shall cause an estimated annual budget to be prepared

based on its estimations of annual expenses and membership assessments, and

copies of such budget shall be furnished to each member at the annual HOA

meeting.

After the Annual HOA meeting the board will issue Assessment Notices.

Each member shall pay his respective annual dues and special assessment

within 30 day of receipt of the notice. The total assessment must be allocated

among the members on the basis of the number of lots owned by each

member, not including the developer.

ARTICLE VIII

ROBERTS RULES OF ORDER (Latest edition), shall govern the

conduct of the meetings when not in conflict with the By-Laws and Statutes

of South Carolina.

9

ARTICLE IX.

These By-Laws may be amended or modified at any time, or from time to

time, by the vote or written approval of owners of two-thirds (2/3) of the lots; who

vote at a meeting called for the purpose of considering such amendment,

provided the notice of the meeting must include the text of the amendment. This

Article and amendments passed hereunder shall not abridge, amend or alter the

rights of institutional mortgagees without their prior written consent.

ARTICLE X.

Section 1. The Association may be dissolved with the assent given in

writing by not less than two-thirds (2/3rds) of the members of the Association .

Section 2. Upon dissolution of the Association other than incident to

merger or consolidation, the assets of the Association shall be dedicated to an

appropriate public agency to be used for the purposes similar to those for which

the Association was created. In the event such dedication is refused, such

assets shall be granted, conveyed and assigned to any non-profit organization to

be devoted to such similar purposes.

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/

•J . .., (l-k(L, IN WITNESS WHEREOF, we have hereunto set our hands and seal this 0( .J

Day of 1.1\t-J '2. "3 , -~ t.o 1 .:.:;-

WITNESSES:

~,,/~

.2k-i?iL­L-LJ/?

24. ~?J..l STATE OF SOUTH CAROLINA

COUNTY OF GREENVILLE ) PROBATE

ade oath

that he/she saw the within named Castle Rock Subdivision Homeowners

Association, Inc. Directors sign, seal and as its act and deed, deliver the within

written By-Laws, and that he/she with the other witness subs~ribed above,

witnessed the execution thereof.

. 113nA j ~ SWORN to before me th1s 0'\ day of. CM-~;,t.1.J

Notary Public for South Carolina

My commission expires: 0~~~~ .... a_oa}-

11

·7J}f5 ' 201-&.

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