The Ranch at Scottsdale Mirage

Association Policy

Pima Vista Owners Association

^Vista Uiomeowners ^issodation, Dnc* TJie ^Ranck ai ScotisMe uMirage
i5560 9Tor/£ ^mnkJQloyd bright ^/oJ. * Suite #^^245 * dcolkdole, Arizona S5260
Association Policy
The President of the Corporation in consultation with the management company shall bring policy issues to the attention of the Board. Policy shall be reviewed at one meeting of the Board, posted for public review and then adopted at a subsequent meeting of the Board. It shall be the responsibility of the Chief Executive Officer of the Corporation to maintain a central registry of all policy matters and issues.
Policy 91.1 - Landscaping Award*
The Board shall establish an award for innovative landscaping on the part of an Association member. This award shall be on an annual basis.
Policy 91.2 - Authorization for Financial Expenditures*
Financial expenditures shall require the approval, in writing, of the President and Treasurer of the Corporation.
Policy 91.3 - Emergency Adoption of Policy*
In the event of an emergency situation, the Board waives the need to publish policy matters for thirty (30) days prior to approval
Policy 91.4 - Property Damage*
The Board shall hold any and all Association members financially and legally responsible for any and all damage to Association property. The President is authorized to execute this policy to protect the best interests of the Board.
* Adopted by the Board of Directors: 04/02/91

Policy 9L5 - Handling of Delinquencies*
DUES DELINQUENT 15 DAYS AFTER DUE DATE
1. Management company is to send their standard late payment notice.
2. Delinquent account will be charged a $10 administrative charge.
3. Treasurer to be notified via the monthly delinquency report.
DUES DELINQUENT 45 DAYS AFTER DUE DATE
1. Management company is to send their standard late payment notice.
2. Delinquent account will be charged a $10 administrative charge.
3. Management company will make every conceivable effort to discuss with the homeowner their delinquent status and attempt to bring the account current.
4. Treasurer to be notified via the monthly delinquency report.
DUES DELINQUENT 75 DAYS AFTER DUE DATE
1. Management company is to send their standard late payment notice.
2. Delinquent account will be charged a $10 administrative charge.
3. Management company will make every conceivable effort to discuss with the homeowner their delinquent status and attempt to bring the account current.
4. If attempts by the management company to bring the account current are not successful, management company will file a Declaration of Lien against the home and the delinquent account will be charged an appropriate lien fee. The lien fee to be charged to the homeowner.
5. A copy of the Declaration of Lien will be sent by CERTIFIED MAIL RETURN RECEIPT REQUESTED to the homeowner. Mailing costs to be charged to the homeowner.
6. Management company will collect the homeowner's key to the pool and tennis courts.
7. Board of Directors will be notified at the monthly meeting as to a status of delinquencies.

CONTINUING DELINQUENCIES PAST 90 DAYS
1. Management company will continue to send their standard late payment notice.
2. Delinquent account will continue to be charged a $10 administrative charge for each assessment period 15 days past due.
3. Management company will continue to make every effort to collect all delinquencies from the homeowner
4. Management company will provide Treasurer with an ongoing monthly report as to the progress of collection efforts.
5. Board of Directors may turn over to a collection agency or attorney any account they feel is uncollectible by the management company.
THE BOARD OF DIRECTORS HAS THE RIGHT TO MODIFY OR CHANGE THE HANDLING OF ANY DELINQUENT ACCOUNT.
Adopted by the Board: 06/18/91
Amended by the Board of Directors: 12/01/97

Policy 91.6 - Handling Violation ofCC&Rs*
VIOLATION OCCURS OR IS FIRST NOTICED
1. Violation notice shall be served upon or mailed to homeowner in violation by management company. Adequate time for correction shall be given (not to exceed thirty 30 days). Design Standards Committee Chairman shall be notified by management company.
VIOLATION EXISTING FOR 30 DAYS AFTER NOTICE IS SERVED
1. Management company to notify Board of Directors.
2. Management company shall attempt in person/telephone contact with violating homeowner to correct problem.
3. Homeowner in violation to be sent Notice of Proposed Fine. Fine to be determined by Board of Directors as per adopted Rules and Regulations regarding Proposal of Fines.
VIOLATION EXISTING FOR 60 DAYS AFTER NOTICE IS SERVED
1. Management company to notify Board of Directors.
2. Homeowner in violation is to be sent Notice of Proposed Fine. Fine to be determined by Board of Directors as per adopted Rules and Regulations regarding Proposal of Fines.
3. Management company shall send violating homeowner letter asking for action or matter will be turned over to Board of Directors for disposition by legal means.
4. Board of Directors may, at their option, pursue legal action against homeowner.
BOARD OF DIRECTORS MAY AMEND THESE GUIDELINES AS THEY DEEM APPROPRIATE.
* Adopted by the Board of Directors 07/23/91

RESOLUTION
The Board of Directors of the Pima Vista HomeownersV Association, Inc.5 an Arizona non-profit corporation, and the Homeowners' Association for Scottsdale Mirage, at a duly authorized meeting of the Board of Directors held on the 23rd day of July, 1991, adopted the following Resolution:
WHEREAS, it has come to the attention of the Board of Directors that certain homeowners and/or the occupants of certain units within Scottsdale Mirage have violated provisions of the Declaration of Covenants, Conditions and Restrictions, the By-Laws, Articles of Incorporation and/or Rules and Regulations promulgated by the Board of Directors; and
WHEREAS, the Board of Directors deems it in the best interests of the association to impose reasonable monetary penalties for such violations after Notice and an opportunity to be heard;
NOW THEREFORE, upon motion duly made and carried, the Board of Directors does hereby adopt the following resolution.
RESOLVED, that the Board of Directors may assess a fine or penalty upon the homeowner for violation of the Declarations, By-Laws or Rules and Regulations of the Association not to exceed One Hundred Dollars for the first such violation, and not to exceed the sum of Two Hundred Dollars for each succeeding violation by such homeowner or occupant of the dwelling unit of the homeowner. Any such fine or penalty shall become an assessment and shall be imposed and collected in the same manner as other assessments. A fine or penalty shall be imposed upon the homeowner after notice and an opportunity to be heard at a meeting of the Board of Directors of the Association. For this purpose, the Board of Directors directs the President of the Association to prepare or have prepared a Notice of Proposed Fine form for delivery to such homeowner. The Board of Directors does further adopt and approve the Rules and Regulations attached hereto in conjunction with the establishment and imposition of fines and does hereby direct the President of the Association to mail this resolution, together with the adopted Rules and Regulations to each homeowner.
PIMA VISTA HOMEOWNERS5 ASSOCIATION
BY_________________________ SECRETARY

RULES AND REGULATIONS FOR ASSESSMENT OF FINES
The Board of Directors hereby authorizes the President, or his or her designees, to mail or deliver, or cause to be mailed or delivered, to a homeowner a Notice of Proposed Fine on such form as the President shall determine. The President, or his or her designee, shall have the discretion to propose a reasonable fine not to exceed One Hundred Dollars for the first violation and a reasonable fine not to exceed Two Hundred Dollars for succeeding violation by such homeowner.
The President, or his or her designees, shall be further authorized to give warning notices for violations of the Declaration, By-Laws, Articles or Rules and Regulations, but shall not be obligated to give such warnings prior to giving Notice of a Proposed Fine. The homeowner shall be given the opportunity to be herd prior to the actual assessment of such fine by the Board of Directors, at a meeting of the Board of Directors of the Association.
The assessment of any fine shall not be the sole or exclusive remedy of the Association, but shall be in addition to any other remedy available to the Association, pursuant to the Declaration, or as otherwise provided by law.
After assessment of a fine, if a homeowner or occupant of a dwelling unit fails to remedy any violation which is in the nature of a continuing violation of the Declaration, By-laws or Rules and Regulations, and such violation continues for a period of thirty (30) days after assessment of the first fine, then the President, or his or her designee, may propose additional fines, not to exceed Two Hundred Dollars for such continuing violation. A fine may be assessed for each thirty (30) day period after the assessment of the initial fine until such time as the violation is remedied by the homeowner. Each fine assessed shall be added to the sums due by the homeowner and shall constitute an assessment by the Homeowners' Association.

Policy 9L 7- Job Descriptions* President and Chief Executive Officer
1. Serve as Chief Executive Officer of the Corporation.
2. Call and conduct all Association meetings.
3. Serve as the designated official spokesman for the Board of Directors and the Association.
4. Authorize, in writing, all Association expenditures, jointly with the Treasurer.
5. Conduct the day to day operations of the Association in conjunction with the management company.
6. Execute all Association contracts.
7. Prepare Annual Report for the consideration of the Board and the Association.
8. Coordinate the Annual meeting.
9. Submit any and all policy issues to the Board for their consideration.
10. Seek legal and technical counsel as appropriate.
11. Keep Board of Directors individually and collectively informed of all Association affairs.
Vice President
1. Assist the President and assume responsibilities of the office when the President is unable to do to so.
2. Serve as the Acting Chief Executive Officer of the Corporation at the written request of the President and in the absence of the President.
3. Assume responsibility for the publication of a quarterly Association newsletter.
4. Coordinate the activities of all Association committees.
Secretary
L Serve as the official custodian of all Association records and documents.

2. Serve as the Keeper of the Corporate Seal
3. Publish and distribute minutes and supporting records of all Association meetings and activities.
4. Serve as the corresponding and recording secretary for the Corporation.
5. Assist the President in determining voting eligibility of members for the Annual Meeting.
Treasurer
1. Serve as the Chief Financial Officer for the Corporation.
2. Co-authorize, with the President, all Association expenditures.
3. Prepare timely, financial reports for the review and approval of the Board of Directors.
4. Assist the President in the preparation of the financial section of the Annual Report.
5. Advise the President and the Board of Directors as to the future financial posture of the Association.
* Adopted by the Board of Directors: 09/04/91

Policy 91.8 - Holiday Displays *
Holiday lights and displays will be permitted to be in place on any member's home from Thanksgiving until February 1, of the following year. Lights and/or display left in place after that date will be considered a violation of policy. Violators will be notified and subject to fine if they fail to comply.
*First Reading: 11-20-91
Adopted by the Board of Directors: 12/17/91

Policy 91.9 - Rewards for Information *
The Chief Executive Officer of the Corporation is authorized by the Board of Directors to offer an emergency reward up to the sum of $500.00 for serious destruction and or vandalism to the Association property.
The reward will be executed for information leading to the arrest and conviction of any individual(s). The Chief Executive Officer will offer this reward only after consultation with the management company, local, county, state and federal law enforcement officials.
The Chief Executive Officer will notify the Board of this action within 24 hours.
* First Reading: 11/20/91
Adopted by the Board of Directors: 12/17/91
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Policy 92.1 - Board Member Recognition'16
Each member of the Pima Vista Board of Directors who serves a complete term of office on the Board will be recognized by the President of the Association. A complete term is defined as one (1) full year or, in the case of an appointment, at lease six (6) months of service.
The President will secure suitable recognition awards and plan, in conjunction with the Board, an appropriate ceremony. The President is directed to fund this activity via the Community Development Fund.
*First Reading: 01/28/92 Adopted by the Board of Directors: 02/18/92 Rescinded by the Board of Directors: 1995 Reinstated and amended by the Board of Directors: 12/01/97
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Policy 92.3 - Election Procedures for the Board of Directors*
In order to allow for the most democratic and informed elections for the Board of Directors of this Association, the following policy is adopted:
1. Service on the board is for one (12) calendar year - 1/1 through 12/31.
2. There is no limit on the number of years an individual may serve.
3. In September of each year, incumbent members of the Board shall notify the Secretary of their intention for re-election.
4. In September of each year, the President shall cause a notice to be published in the Association newsletter requesting members to serve on the Board of Directors for the following year. Additionally, the President shall appoint a Nominating Committee composed of a least two (2) Board members. The Nominating Committee shall be appointed no later than September 1, and will submit a report to the Board of Directors at the regularly scheduled meeting in October.
5. In October, the Board shall publish a list of all candidates who have expressed a desire in running for the Board of Directors. This list should include a brief biography on each candidate. This list shall serve as the official ballot for the Annual Meeting.

6. Members of the Association who cannot attend the Annual Meeting in person are cast absentee ballots which must reach Association offices no later than 48 hours Annual Meeting
7. The Annual Meeting may open the floor to additional nomination on a simple majority vote.
8. The size of the Board of Directors shall not exceed nine members. All officers and directors shall receive no compensation for their services.
9. Within one (1) week of the Annual Meeting, the Board of Directors shall be convened for the sole purpose of electing new officers and general orientation for all new members.

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* First Reading: 09/08/92
Approved by the Board of Directors: 10/20/92

Policy 92.4 - Reserve Account Development and Distributions *
There are a number of long term replacement and repair costs which do not fall under the annual operating budget for the Association.
Without a carefully planned program of investment and planned expenditures, future special assessment may be necessary.
The Board of Directors of the Association is in favor of the development of long range policy development and replacement of Capital assets. A Capital Reserve Fund has been informally in place for more than a year. It is the intent of this policy to formalize the existence of such a fund.
The President and Treasurer of the Association are directed and authorized to place existing funds in accounts which will maximize the investment. The Treasurer will report to the Board on a semiannual basis as to the progress of these investments.
It is the intent of the Board to accumulate $50,000.00 in a Capital Reserve Fund. To this end, the Board shall direct at least a monthly deposit of $500.00 to the account. In the opinion of the President and Treasurer, additional deposits may be made from time to time to this account given the financial status of the Association. The Treasurer is directed to continue the practice of placing funds collected from previous fiscal years into the Capital Reserve Account up and to the limit of $50,000. Expenditures from this account are restricted to the following:
1. Capital improvements
2. Emergency repairs
3. Others as the Board may deem important and in the best interest of the Association.
Interest earned from this account may be reinvested into the Capital Reserve Account. By an affirmative vote of the Board, interest from this account may be considered part of the working budget funds after the $50,000 has been placed in reserve.
The President must request funds from this account to be spent for the above referenced areas.
The Board, by majority vote, may direct the Treasurer to release these funds as requested by the President.
The Board reserves the right to increase the amount of Capital Reserves. A majority vote of the Board will be required to execute this decision.
The existence and account balance of the Capital Reserve Account, which is believed to be adequate for future needs of the Association, shall be communicated to lenders, realtors and appraisers to the greatest extent practicable.
*First Reading: 10/20/92
Approved by the Board of Directors: 11/10/92
Amended by the Board of Directors: 12/01/97
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Policy 93.1 - Insurance Coverages*
In order to provide optimum insurance coverage while protecting the insurability of the Association, the following policy is adopted:
1. Perimeter walls will continue to be covered.
2. It is the goal of the Association to maintain a $250.00 deductible.
3. If it is in the best financial health of the Association, the Board is allowed a $500.00 deductible.
* First Reading: 02/10/93
Approved by the Board of Directors: 03/10/93
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Policy 93.2 - Budget Preparation Process*

1. June:
Chief Executive oflBcer suggests parameters and line items for next fiscal year budget.

2. July: Chief Financial Officer and Property Manager develop a detailed budget.
3. August: Treasurer presents proposed budget for Board review.
4. September: Board solicits input from community.
5. October: Board formally adopts the budget.
6. November: The Annual Meeting accepts the budget.
7. December: Chief Executive Officer and Property Manager execute the budget.
8. Board of Directors, on a monthly basis, authorizes the expenditure of funds.
*First Reading: 02/10/93
Approved by the Board of Directors: 03/10/93
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Policy 93.3 - Late Fee Collections*
The Treasurer (CFO) is directed to have all current fiscal year late fee collections transferred to the Community Development Account on a monthly basis.
The intended use of the Community Development Account is to include, but not limited to, expenditures for communication tools and community relations activities.
*First Reading: 04/14/93 Approved by the Board of Directors: 06/09/93
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Policy 93.4 - Exterior House Colors*
The Board of Directors has adopted a series of desert shade exterior house colors for use by homeowners within the Pima Vista Homeowners Association. The intent of this policy is to enhance the common aesthetics of the community and maintain high standards of appearance. The Design Standards Committee is directed to serve as the agent of the Board in this matter. Any and all homeowners who desire to change the current exterior colors are directed to file an application with the Design Standards Committee. The Committee shall approve color requests and consider other than approved colors, if in the opinion of the Committee, they fall within desert shades. The Design Standards Committee will have thirty (30) days to respond to any request for color changes and so inform the Board, in writing, of all of their decisions. Decisions of the committee may be appealed to the Board for reconsideration.
*First Reading: 10/13/93
Adopted by the Board of Directors: 11/10/93
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Policy 97.1 - Swimming Pool Rules and Regulations
The following health and safety rules have been adopted by the Pima Vista Board of Directors for the welfare of all residents of the Association. Your cooperation and compliance is very appreciated.
1. Swimming at the pool is restricted to members of the Association and their household guests. Keys to the facility are not to be given to anyone else at anytime. Unmonitored non-Association members who use the pool will be charged with trespassing on private property.
2. All members of the Association swim at their own risk. The Association assumes NO responsibility for injury and NO lifeguard is provided.
3. No dogs, cats or any other pet is allowed in the pool area or in the swimming pool.
4. No glass items are allowed in the pool area!
5. Association members are asked to keep noise to a minimum so as not to disturb neighbors.
6. Children, under the age of 14, are not allowed in the pool area without continual adult supervision. (Adult =18 years of age.)
7. Cut-offs or fringed clothing are not allowed in the pool.
8. Residents are asked to shower before swimming if they are using body oils.
9. The management company, Board of Directors and corporate officers reserve the right to deny use of the pool to anyone and to close the pool, with good cause, at anytime.
10. The pool permit, issued to the Association by the Maricopa County Department of Health Services, does not allow for diving in our pool. Please cooperate with this regulation.
11. All residents have a responsibility to abide by and enforce all of the above rules and regulations.
Adopted by the Board of Directors: 1992 Amended by the Board of Directors: 12/01/97
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Policy 97.2 - Tennis Court Rules and Regulations
1. The courts are private property and are to be used only by members of the Pima Vista Homeowners' Association and their INVITED guests.
2. Regulations shoes are to be worn at all times.
3. Bikes, skates, and skateboards are strictly prohibited on the court surface. The tennis court is to be used exclusively for tennis play. No other games are allowed.
4. Tennis court gates are to remain locked at ALL times.
5. If other members are waiting to use the court, play time should be restricted to one (1) hour.
6. Food and beverages are not allowed in the court area, other than plastic sport bottles.
7. Please keep noise levels at an appropriate volume so as not to disturb neighboring residents.
8. Please conserve energy by illuminating tennis court lights only when necessary and extinguishing the lights at the end of play. Please note once lights are shut off, a 15-minute warm-up period is necessary to have them re-illuminate. Lights are also photo-cell activated and do not activate during daylight hours.
9. NEVER allow a non-member the use of tennis court keys. In the event of damage to the courts, the member will be held responsible.
10. Parents are to supervise small children at the courts at all times.
Adopted by the Board of Directors: 1992 Amended by the Board of Directors: 12/01/97
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T/isfa Uiomeowners ^ssodaiw^ Dnc. TJie ^Ranch at ScotisMe ^Mirage
i5560 9tor& %
Association Policy
The President of the Corporation in consultation with the management company shall bring policy issues to the attention of the Board. Policy shall be reviewed at one meeting of the Board, posted for public review and then adopted at a subsequent meeting of the Board. It shall be the responsibility of the Chief Executive Officer of the Corporation to maintain a central registry of all policy matters and issues.
Policy 91.1 - Landscaping Award*
The Board shall establish an award for innovative landscaping on the part of an Association member. This award shall be on an annual basis.
Policy 91.2 - Authorization for Financial Expenditures*
Financial expenditures shall require the approval, in writing, of the President and Treasurer of the Corporation.
Policy 91.3 - Emergency Adoption of Policy*
In the event of an emergency situation, the Board waives the need to publish policy matters for thirty (30) days prior to approval
Policy 91.4 - Property Damage*
The Board shall hold any and all Association members financially and legally responsible for any and all damage to Association property. The President is authorized to execute this policy to protect the best interests of the Board.
* Adopted by the Board of Directors: 04/02/91

CONTINUING DELINQUENCIES PAST 90 DAYS
1. Management company will continue to send their standard late payment notice.
2. Delinquent account will continue to be charged a $10 administrative charge for each assessment period 15 days past due.
3. Management company will continue to make every effort to collect all delinquencies from the homeowner
4. Management company will provide Treasurer with an ongoing monthly report as to the progress of collection efforts.
5. Board of Directors may turn over to a collection agency or attorney any account they feel is uncollectible by the management company.
THE BOARD OF DIRECTORS HAS THE RIGHT TO MODIFY OR CHANGE THE HANDLING OF ANY DELINQUENT ACCOUNT.
* Adopted by the Board: 06/18/91 Amended by the Board of Directors: 12/01/97

RESOLUTION
The Board of Directors of the Pima Vista Homeowners' Association, Inc.5 an Arizona non-profit corporation, and the Homeowners7 Association for Scottsdale Mirage, at a duly authorized meeting of the Board of Directors held on the 23rd day of July, 1991, adopted the following Resolution:
WHEREAS, it has come to the attention of the Board of Directors that certain homeowners and/or the occupants of certain units within Scottsdale Mirage have violated provisions of the Declaration of Covenants, Conditions and Restrictions, the By-Laws, Articles of Incorporation and/or Rules and Regulations promulgated by the Board of Directors; and
WHEREAS, the Board of Directors deems it in the best interests of the association to impose reasonable monetary penalties for such violations after Notice and an opportunity to be heard;
NOW THEREFORE, upon motion duly made and carried, the Board of Directors does hereby adopt the following resolution.
RESOLVED, that the Board of Directors may assess a fine or penalty upon the homeowner for violation of the Declarations, By-Laws or Rules and Regulations of the Association not to exceed One Hundred Dollars for the first such violation, and not to exceed the sum of Two Hundred Dollars for each succeeding violation by such homeowner or occupant of the dwelling unit of the homeowner. Any such fine or penalty shall become an assessment and shall be imposed and collected in the same manner as other assessments. A fine or penalty shall be imposed upon the homeowner after notice and an opportunity to be heard at a meeting of the Board of Directors of the Association. For this purpose, the Board of Directors directs the President of the Association to prepare or have prepared a Notice of Proposed Fine form for delivery to such homeowner. The Board of Directors does further adopt and approve the Rules and Regulations attached hereto in conjunction with the establishment and imposition of fines and does hereby direct the President of the Association to mail this resolution, together with the adopted Rules and Regulations to each homeowner.
PIMA VISTA HOMEOWNERS5 ASSOCIATION
BY_________________________ SECRETARY

Policy 9L 7 - Job Descriptions* President and Chief Executive Officer
1. Serve as Chief Executive Officer of the Corporation.
2. Call and conduct all Association meetings.
3. Serve as the designated official spokesman for the Board of Directors and the Association.
4. Authorize, in writing, all Association expenditures, jointly with the Treasurer,
5. Conduct the day to day operations of the Association in conjunction with the management company.
6. Execute all Association contracts.
7. Prepare Annual Report for the consideration of the Board and the Association.
8. Coordinate the Annual meeting.
9. Submit any and all policy issues to the Board for their consideration.
10. Seek legal and technical counsel as appropriate.
11. Keep Board of Directors individually and collectively informed of all Association affairs.
Vice President
1. Assist the President and assume responsibilities of the office when the President is unable to do to so.
2. Serve as the Acting Chief Executive Officer of the Corporation at the written request of the President and in the absence of the President.
3. Assume responsibility for the publication of a quarterly Association newsletter.
4. Coordinate the activities of all Association committees.
Secretary
1. Serve as the official custodian of all Association records and documents.

Pottcy 91.8 - Holiday Displays *
Holiday lights and displays will be permitted to be in place on any member's home from Thanksgiving until February 1, of the following year. Lights and/or display left in place after that date will be considered a violation of policy. Violators will be notified and subject to fine if they fail to comply.
*First Reading: 11-20-91
Adopted by the Board of Directors: 12/17/91

Policy 92*1 - Board Member Recognition *
Each member of the Pima Vista Board of Directors who serves a complete term of office on the Board will be recognized by the President of the Association. A complete term is defined as one (1) full year or, in the case of an appointment, at lease six (6) months of service.
The President will secure suitable recognition awards and plan, in conjunction with the Board, an appropriate ceremony. The President is directed to fund this activity via the Community Development Fund.
*First Reading: 01/28/92 Adopted by the Board of Directors: 02/18/92 Rescinded by the Board of Directors: 1995 Reinstated and amended by the Board of Directors: 12/01/97
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Policy 92.4 - Reserve Account Development and Distributions *
There are a number of long term replacement and repair costs which do not fall under the annual operating budget for the Association.
Without a carefully planned program of investment and planned expenditures, future special assessment may be necessary.
The Board of Directors of the Association is in favor of the development of long range policy development and replacement of Capital assets. A Capital Reserve Fund has been informally in place for more than a year. It is the intent of this policy to formalize the existence of such a fund.
The President and Treasurer of the Association are directed and authorized to place existing funds in accounts which will maximize the investment. The Treasurer will report to the Board on a semiannual basis as to the progress of these investments.
It is the intent of the Board to accumulate $50,000.00 in a Capital Reserve Fund. To this end, the Board shall direct at least a monthly deposit of $500.00 to the account. In the opinion of the President and Treasurer, additional deposits may be made from time to time to this account given the financial status of the Association, The Treasurer is directed to continue the practice of placing funds collected from previous fiscal years into the Capital Reserve Account up and to the limit of $50,000. Expenditures from this account are restricted to the following:
1. Capital improvements
2. Emergency repairs
3. Others as the Board may deem important and in the best interest of the Association.
Interest earned from this account may be reinvested into the Capital Reserve Account. By an affirmative vote of the Board, interest from this account may be considered part of the working budget funds after the $50,000 has been placed in reserve.
The President must request funds from this account to be spent for the above referenced areas.
The Board, by majority vote, may direct the Treasurer to release these funds as requested by the President.
The Board reserves the right to increase the amount of Capital Reserves. A majority vote of the Board will be required to execute this decision.
The existence and account balance of the Capital Reserve Account, which is believed to be adequate for future needs of the Association, shall be communicated to lenders, realtors and appraisers to the greatest extent practicable.
*First Reading: 10/20/92
Approved by the Board of Directors: 11/10/92
Amended by the Board of Directors: 12/01/97
13

Policy 93.2 - Budget Preparation Process*

1. June:
Chief Executive oflBcer suggests parameters and line items for next fiscal year budget.

2. July: Chief Financial Officer and Property Manager develop a detailed budget.
3. August: Treasurer presents proposed budget for Board review.
4. September: Board solicits input from community.
5. October: Board formally adopts the budget.
6. November: The Annual Meeting accepts the budget.
7. December: Chief Executive Officer and Property Manager execute the budget.
8. Board of Directors, on a monthly basis, authorizes the expenditure of funds.
*First Reading: 02/10/93
Approved by the Board of Directors: 03/10/93
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Policy 93.4 - Exterior House Colors*
The Board of Directors has adopted a series of desert shade exterior house colors for use by homeowners within the Pima Vista Homeowners Association. The intent of this policy is to enhance the common aesthetics of the community and maintain high standards of appearance. The Design Standards Committee is directed to serve as the agent of the Board in this matter. Any and all homeowners who desire to change the current exterior colors are directed to file an application with the Design Standards Committee. The Committee shall approve color requests and consider other than approved colors, if in the opinion of the Committee, they fall within desert shades. The Design Standards Committee will have thirty (30) days to respond to any request for color changes and so inform the Board, in writing, of all of their decisions. Decisions of the committee may be appealed to the Board for reconsideration.
*First Reading: 10/13/93
Adopted by the Board of Directors: 11/10/93
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Policy 97.2 - Tennis Court Rules and Regulations
1. The courts are private property and are to be used only by members of the Pima Vista Honieowners' Association and their INVITED guests.
2. Regulations shoes are to be worn at all times.
3. Bikes, skates, and skateboards are strictly prohibited on the court surface. The tennis court is to be used exclusively for tennis play. No other games are allowed.
4. Tennis court gates are to remain locked at ALL times.
5. If other members are waiting to use the court, play time should be restricted to one (1) hour.
6. Food and beverages are not allowed in the court area, other than plastic sport bottles.
7. Please keep noise levels at an appropriate volume so as not to disturb neighboring residents.
8. Please conserve energy by illuminating tennis court lights only when necessary and extinguishing the lights at the end of play. Please note once lights are shut off, a 15-minute warm-up period is necessary to have them re-illuminate. Lights are also photo-cell activated and do not activate during daylight hours.
9. NEVER allow a non-member the use of tennis court keys. In the event of damage to the courts, the member will be held responsible.
10. Parents are to supervise small children at the courts at all times.
Adopted by the Board of Directors: 1992 Amended by the Board of Directors: 12/01/97
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