CORPORATE RESOLUTION

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CORPORATE RESOLUTION
OF THE BOARD OF DIRECTORS OF
HOLLY LAKE ASSOCIATION, INC.

The Board of Directors of HOLLY LAKE ASSOCIATION, INC., a corporation not-for-profit (hereinafter referred to as the “Association”), organized and existing under the laws of the State of Florida, has hereby agreed, consented to, adopted, and ordered the following Corporate Resolution:

WHEREAS, the Association is the homeowners’ association, organized pursuant to Chapter 617 and Chapter 720 of the Florida Statutes, responsible for the maintenance, management, and operation of the Holly Lake community; and

WHEREAS, Article X of the Declaration of Covenants, Restrictions, Limitations, Conditions, Charges and Uses governing the community grants the Association a right of first refusal as to the sale and transfer of lots and homes in the community; and

WHEREAS, Article IV of the Declaration of Covenants, Restrictions, Limitations, Conditions, Charges and Uses governing the community, as well as its appended Management Contract (including Article V), provisions Fourth (including paragraph (e)) and Eleventh (including paragraph (c)) of the Articles of Incorporation, and Article VIII (including Section 1(a) and (b)) of the By-Laws grant the Board of Directors of the Association authority to promulgate, revise, amend, adopt, and approve reasonable rules and regulations governing the use of lots and homes in the community; and

WHEREAS, the Board of Directors wishes to improve a process of gathering information for consideration of the exercise of its right of first refusal as related to lot purchases; and

WHEREAS, the Board of Directors wishes to ensure that purchasers, tenants, and occupants of lots and homes have the ability and desire to meet their obligations to the Holly Lake community—both financial and otherwise—and which, if screened and given Association approval, may better ensure that purchasers, tenants, and occupants are aware and better able to meet their responsibilities to the community; and

WHEREAS, the Board of Directors has the authority, as set forth above, to require the screening and approval of proposed purchasers, transferees, tenants, and occupants of lots and homes, by the Board of Directors, prior to the closing of a sale or transfer or the commencement of a lease or occupancy (as well as prior to the time of a lease renewal),

NOW THEREFORE, the Board of Directors has hereby adopted the following Resolution:

residents, the Board of Directors of the Association hereby requires that all prospective purchasers, transferees, tenants, and occupants of lots and homes in the community must submit to a screening and approval process prior to commencing ownership or occupancy at a lot or home as follows:

I. The prospective purchaser/transferee/tenant/occupant must (i) submit an
application for approval of his/her purchase/transfer/lease/occupancy on forms provided by the Association, (ii) provide any and all documentation/information reasonably requested by the Association, (iii) submit (at his/her own expense) to a background check, in a manner and with a company selected by the Association, and (iv) pay to the Association any reasonable screening/transfer fee imposed by the Board.

2. Upon the Association’s receipt of the application, information/documentation, background check, and payment (if applicable), the purchaser/transferee/tenant/occupant, if requested by the Board of Directors, will appear for an interview before the Board or a screening committee (established by the Board).

3. Upon completion of the foregoing, the Board of Directors shall issue written notice to the owner of the applicable lot/home as to whether the proposed purchaser/transferee/tenant/occupant and purchase/transfer/lease/occupancy have been approved or disapproved. At the same time, the Board of Directors shall issue written notice to the prospective purchaser/transferee/tenant/occupant indicating whether he/she has been approved or disapproved and, if disapproved, the reasons therefor.

4. Disapprovals shall only be given for good cause, according to criteria which may be established by the Board. Until such criteria is altered or amended, the following may be considered good cause for disapproval:

A. The application for approval, on its face or through subsequent investigation, indicates that the person seeking approval intends to conduct himself/herself or the ownership/occupancy in a manner that is inconsistent with the rules and restrictions of the community.

B. The person seeking approval has been convicted of a felony involving violence to persons or property, or demonstrating dishonesty or moral turpitude.

C. The person seeking approval has a record of financial irresponsibility, including (without limitation) bankruptcies, foreclosures, or bad debt.

D. The owner of the lot/home has permitted the prospective tenant/occupant to take possession of the premises prior to issuance of an approval by the Association.

E. The person seeking approval has a history of disruptive behavior or disregard for the rights and property of others as evidenced by his or her conductin other social organizations, communities or associations, or by conduct in the Holly Lake community as a homeowner, tenant, or occupant.

F. The person seeking approval has failed to provide the information, fees, or appearance required to process the application within the time provided by the Board.

G. All assessments, fines, and other charges against the lot/home or its owner have not been paid in full.

H. The person seeking approval has given false, incomplete, or misleading information on the application.

5. In no event, however, shall a proposed purchaser/transferee/tenant/occupant or sale/transfer/lease/occupancy be approved until all maintenance fees and assessments, both regular and special, as well as fines and other monetary obligations, which are due as to or with regard to the subject lot/home, have been paid in full.

6. Further, with regard to lease renewals, an owner wishing to renew a lease of his or her lot/home must ensure that the current tenant/occupant re-submits to the above approval process by no later than 30 days prior to the termination date of the previously-approved lease. Should the approval process not be timely commenced, as set forth herein, then the Board of Directors will not consider the lease as being renewed; rather, the Board will consider the situation as being that of a new tenant and a new lease.

RESOLVED, that the Board of Directors of the Association has authorized and directed the President of the Association to execute this Corporate Resolution and has authorized and directed the Recording Secretary of the Association to attest to same.

IN WITNESS WHEREOF, the undersigned have executed the foregoing Corporate Resolution at the direction of the Board of Directors of HOLLY LAKE ASSOCIATION, INC., which has given its consent thereto.

HOLLY LAKE ASSOCIATION, INC.
By:
Attested to by: TERRY MOODY, President
TRISHA COGAN, Recording Secretary

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