5D4hs.l . ---l ' ;- .....*girr*ila.ffo..r**r.d..a+!r:i*-:..tC.!;i:":1.rar ;.,, -.,_ _--._ - -. , x e_)7 e9 \u\e/) M,T,KTJI.Ie itr,rd for three years. 'lhe tcrrn of ofllce oI one manager sh.rll bc lixcd nl ,)rtcvcar At the explrl- of the inrrial tertn of omce of each I'espcctrv( rit.rrager, h:s successors shalL be clccted to sen'e a Lerm of threc \uJr's illc llr,rril[(rs shall hold the olllce until their succcssors have beer) clc(ri''(l ;Lrr(l hold 1h, rI Ilrst mecting (lf a lartcr Board is contcmplatcd lhc t(:r'rllS ol 1)lli, r' slroul,l i)c establishcd in a slmrl.lr manner, so rh.r1 it \l'ill expir(. rn (iriiL r( Lrr l, .: s.l 23. VACANCIES Vacallcies ir til. Board caused bl' anl,' r(.r'i.), ,)15.r tlr.irr removal of a lllanager bv a volc o[ t)ic Association. shali hc irl;.(l l). !ot( of maJority of the remainmg n1ofiagers, ercn though the_v LIit\ (!nsLitLrlc lcss than a quorum and each pcrsorl so clecled shall bc a rran;r:lr Lrnlil l successor is elected at th(- nexr rrrnrrill meeting of th...\ss.r.rarior. 24. REMOVAI OF MANAGERS :-At any regular or spccr.rl rrrjr'trng, drrl, called, one or more of Lhe managers mav be removcd Nith (,r \\ilhoul calls(,. by a majority of the Apartment o\rncrs and a succcssor [ril)' rher] arrd thcre be elected to fill the vacancl' thus crcateC. Any manager, rrhosc rcnrova) Iras been proposed by the or\,ners, shall be given an ol)portunll\' ro r,c ;lcard in lhe meeting. 25. ORGANIZATION OF A MEETING: - The hrs t mceung ol rhc nc\!l] elected Board shall be held r{ithin lO days of the electi,rn ;rt such placc as shall be fixed b) the managels at rhe meeting at !,vhrch thc nranagcrs wcre elected and no notice shall be necessar-v to the ne\r'l) elecr€d managers rn orde! to legally constitule such a mecLing, provided a ltlajoritt,ofthe \h,rle Board shall be present. 26. REGULAR MEEfING:- Regular meeting of the Board nra! bc hckl ar such a time and place, as shall bc determrned from timr: to tirne, bv a majority of the Managers, but at leasr t\vo such meeting shrrll lx hcld dunn3 each year. Notice oI regular rnceLings of the Boards shall be gtvcr) to ca.h Marager, personally or by mail or lelcgraph at ieast threc days lrior Lo the day named for such meeting i 27. SPECIAL MEETING:-SpeCial meeting of the Board nra\ b. .atlcd b\ rhe I president on three days'notice to each manager, given personallv or bl mail or telegraph, which notice, shall state the time, placc (as hercrnabovc provided ard purpose of the mecting (special) meeting of rhc Boar(t) shall bc 'LL -*."-*' "-.i 'nirgi..rj!<-riE;4.4ili.d -,rqi!,..,*..44-.r*.rLs. ..J-Lr._,,....q,.-^ _!r, ;rqa- { sU B l5 ZEE.( ) i t0111 s called b) thc pres(lcnt or Secretary in tb x -1 \rritten reques( o[ar lcast 3 managcrs. t 2a. WAfVER OF NOTICET -Before or at aAi meeting of the Board, any t manager, in writing, \varves the notice of such a meeting and such a waiver shall be deemed equivalent 10 the issuing of such a notice Attendance by a ! manager of a ' meeting of the board shall be a waiver of notice bv him of the r time arld Pla.c hercof It all the managers are presenr shall be required and anl, business mav be transacted at such a meeting. 29. OUORUM:. At all meetints of the Board l/3rd o{ tl1e total strength of lhe managers shaLl constitute a quorum for the transaction of business and Lhc acts of rhe m.rnagers present at a meeting at which a quorum is present shall be the acts of rhe Board. If at anl, meeting of the Board, there be less than a quonun present maY adjourn the meeting from tlme to time. At anv such adjolrrne(l rnccring, an] business which might havc been transacted, ai the mcetingas originallj called, mav be transacted l\ithout further notice, protided there rs i1 qLrorum presenr. 30. FIDELITY BOHDSIThe Board may require that all offlcers and crnplo-yees of the Associatton handling or responsible for the Associatron lunds shall furnish adequate fidelity bonds. The premium on such bonds shall be paid b| the Assocration. CIIAPTER V OFFICERS 31. DESIGNATTON:- The principal officers of the Association shall be a president, i\ \1ce presi(lent, a secretary and a Treasurer, all of whom, shall be elected by ilnd fionl rhe Board The Board ma) appoint an assistant Treasurer and an Assistant secretary afld such other oflicers as in their judgment mar- bc necessa[, (in case of an Association of 100 o$Tcrs or less, the ofliccs of treasurer and secretar\_ may be frled by the satne person.) 32. ELECTTON OF OFFICERS:-The officers of the Associ ation shall be clected annualll' bJ the Board of the organization meeting of each new Board and shall hold ol'fices at (he pleasure of the Board. 33. REMOVAI OF OFFICERS :-Upon an alfirmative vote o[ a majority of the Members of thc lloard, any oflicer may be removed eilher with or without any cause and lris successor elected at anv retular meeting of the Boardof members or at an\' special meeting of the Board called for such puipose. 34. PRESIDENT: - The president shall be the chicf Executive ollicer of the assocration. He shall preside al all the meetings of the Association and oI the Board. Hc shall have all the general powers and duties which are usuall_v vested in the office of a president of an Association, including, but not limited to the poqrr to appoint a committee, from among the owners, from time to time. as he may in his discrction, decide to bc appropriate to assist ln the conduct of the affairs of the Association. 35. VICE-PRESIDENIi IThe vice president shall take the place of the presrdent and pcrform his duties whenever the plesident shall bc absent or unable to act. lf neither the president nor and the vice president nor the vice president is able to act, the Board shall appoint some other mcmb€r of the Board, so as to act on an interim basis. The vice president shall also perform such olher duties, as shall from time to time, be itnPosed upon him bv the Board. g-q.-9EqEE:I4BhThe secretary shau keep the min\rtes of all thc mectin8s of the Board and the minutcs of the Associatlon.He shall havc charge of such book. and peper! a. thc Bosrd may dlrect trnd hc lhell, in gcncra.l, Pcrform the entire duties incidental to the oflicc of a Becretary' 37. TRI,ASURER:-The Treasurer shall be res ponsible fo. the Association flrnds and securities and shall also bc rcsponsiblc for keeping full and accurate accounts of all receipts and disbursemcnts in the books belonging to the Association. He shall bc responsible for the deposit of all rnoneys and sU a 4 q c'r T l I 'ii} - rn tlre narlc ilnd to the credir ol liL' ,1c.,r1.,'rrrr irl .EJT 4 u |ls, be, from trme ro trmc. (lesignated L)! I.li( 11,,, ,-l (.]_ 1 CHAFTER VI OBLIGATIONS OF THD APA R ENA OWNERS 3E. ASSESSMEXTS :'All owners arc obliged to Pa! rnonrhl\ isJ.s!rL:.rtts imposed by the Association to Incel all eYpensc rel:rtinS l!' SHtVALIK SPARSH APARTUENT \\hich ma\ irrclude anlnsurancc I,r"rlrrilrr1 Il)r a pohcy to cover rcpair altd reconstruatloll \r'ork in cas{: of hulrlci)i:4, irrr. earthquake or other hazard of calamih'. The assessrncrlrs shilll b,) rna{l(l according to the value of the unit oNncdtrs stipulatcd in tlrL ll cl|rrrti,rrr Such assessmenl shall include morllhlv pat'ments to a ir, nrr.rl ,ir"ralrrrl reserve and a resen,e fund for rcplacenrellt. 39.MAI AND REPAIR- l,Uvc ry o!!ner must pcriortrl pr,,rrr ,ll' iril maiotenance and repair eork ulthirr llrs orvn unit which il orrr:llrii rould affect the SHfVAIII( SPARSH APARTMENT condomirrrnr )r rnrrr.l'. or lI) a parr b€longing to other ou'ners beinB e-\pressh'resPonsiblf Ir)r- lhr rlal agcs and liabilities thar his failLlrc to do so mat endanger.2. .\il ih. r'1 i),rils,), rnternal iostallations of Lhe unil sLlch as rvaterr light, gas. p,)\\'cr. s(i\!rrA(:, I telcphones, air conditioncrs sanitarl' installations, dooIs. \! in(lo\'. s, lerxps, an(l all other accessories belongin8 to the cloors rvindows lanips rrl(l .rll ()liltr accessories belon8ing to the unrt arca shall be at the .xp,rns. ol (hc apartment owner concerned, 3.AD o\tncr shall reimbursc thc Assoclilltor'! fol an) expenditure incurred in repairrng or rePlacing anl, colrjrn()0 .Lr,rirs irn(l facility damaged through his fault. 40. Usr of FaDily UDlta -InterDal Chanecs:- 1. AII units shall be utilized for their lcsllc,:trve residentisl ]rririr,':J' r:iil\ . 2. -{.n owner shall not make an-v structLrral modificatlons [;r.ricrj llrer,.rt wi!hout previousll notilying the Association in \iritint, throLrtjlr rir,' p|cr: i,'nt of the Board, if no manager is enlploved, the association shirl: :Lri. ilr,r obtigation to ansu'er rvrthin 30 d!rl's and lailure to do so r\'rrhrn lh, \,,lrl stipulated tlme, shall mean rhat there rs no obJection t() th,'pr.rl),)s((l modillcation, alteration or installatron 41. USE OF COMMON AREAS & FACILITIES AND RESTRICTID COMMON AREAS AND I'ACILITIES:- An owner shall not pla,'c or,-.rut,: lLr be placed rn the lobbies, vestibules, staircases, elevators an,l orlt,-'r ,,.,:1.; ()l' SHMIIK SPARSH APARTMENT & fa.ilities of a sirrriliir n,rui(. l),.,rh common snd restricted, an]' furniture, packages or objects ()f ar)\ f.llrd Such areas shall be used for no other purpose thaD for nornul trrrsr! through them. 42. RIGHT OF ENTRY : - l.An o\\ner shall grant the right of clrtr'.! t.J rlrc Ma.natcr or to any other pcrson dul)' authorized by the Board of rhe Association in case of an emergency originatrng in or there at(erldi g his r)t1il whether the owner is present at the time or not ?LAn olvncr shall pcrmit other owners or their teprcsentatives when so requ,red to enlcrc(l hrs unLt for the purpose of performing installatior]s, alterations or rcpairs ro (lre techanical or eleclrical services provide(l that a request for slrch an ellrn ls ,r time convenient to the owner. Howe\,er, in cas€ of an emergeoc,\ sucll rrgl)L of entrv shall be immediate. 43. RULES O F COI{DUCT:- 1. No rcsident of the gHryALtN SPARSH ATARTMENT shiill posr iui\ advertisement or poslers or anv kind in or on the buildirrg, cxcel)l, as authorized by the Association.ii) Residcnts shall e\ercise extreme.are about making noises or the use of musical instruments, radios, telcvlslons, an(l amplifiers that may disturb others. Residents keeping domcstic |urrrrals shall abide by the Municipal sanitary bye-laws or regulations. iii)lt is prohibited to throlv hang garments, rugs, erc. fron rhc rvindot.s. balconies or from any of rhe facades of the SHMIIK SPARSH APARTMEN? 2. It is prohibired to throw dust, rags, etc from the windo\v ot. to clca[, ruts, Ctc. from the window or to clean rugs, etc. by beating them oll tllc exterior part of the said condominjum. H ..Fr4--EUEBET' -.ad...,+'t;r{*-relEe\./Sf{&!-!-t*d3",;...-.'"-'",rt'if^asiea'''s"*' - 't'i il:8 rt J-+ I': { ,'i u ---tT { r rrx( 1:i ,t 1 /i.r?,.) i..t 99 3. Il is prohibired ro rhrow rnstallalions provide(l for such instaLlations rs not provide(l all Ba in a vessel and thrown rn tl)e municipaliu,dustbin 4. No olvtrer, residrnt or lease shall install wiring for elcctrical or tclephone rnstelletions. telecision antennae, machine or air-conditioning units itc. on rhe exLerior of rhe SHTVAIIN ApARaH A.pARTt6E!{f of thar protrudc the $'alls or roof of rhar condominium except, as authorizcd by the A;sociation. C}IAPTER VII FUNDS AND THEIR IITVESTMENT 44. FUNDS: - Funds mav be raise(l bl the Associatron in all or an], of the following says, Iiz: -1.8v shares 2.lly contriblltions and donations from the apa-rtmenL rlvners. 3_rrom common profit which shall from the nucleus of the Reserve fund. 4.Bl raising loans, if neccssary, subjcct to such terms & conditions, as lhe association, \'ith lhc approval of the Co$petent Authority, may dete.mine in his behalf 45 TMENT The association rna5, invesr or deposil it funds in one or rnore o[ the fol]o\i.ing I 1. In rhe Oisrrict Central Co-Operarive Bank or in the State Co-Operative Bank, or 2.ln anv of rhe securities specified in section 20 of the Indian Trust Act. 1882, or 3. In anv co operative bank other than those referred to in clause lal of thrs b_vla\r or in ant' banking company approved for this purpose b-', the AssociatLon 46.Affdbtion:- Should rhere be an l' federation of Apartment owners in the locality, in r\.hich t)re SHWAIIK SPARSH APA-Rf!{ENT Association is suit at the Associatlon rnn\', after consulting the Competent Autiority, b€come a member thereof and pay rhe sums from time to time, payable to such f.,leration undcr the n,les lhereof. 4?.AQeqUNTs :-A bankin g account shall be opened by the Association into whjch all monct's recelved on behalf of the Association shall be paid, pl.o!'ided that the secrerary ma) retain in his personal custody arl amount not exceeding Rs. 500/' for perty expenses. AII payment above Rs. 20/- shall be made b] cheque, duly signed by the ChalrEa! & aectotafy and one member of the fJoard. l. Each apartnren! oruncr shall have a pass book in which the secretary shall enter amounrs paid ro or recetved for his sharc in recelpts of profits from the colnmon areas and contributions torvards common expenses and hrs share of assessD)ent and other dues, if any, in respect of his apartment. 2. The association shall in each year publish an audited financial statement in respect of the colnmon areas and facilities containing. The profit and loss account. a| The receipts ;rnd expendrture of the previous financial year, and b]A sunlmary of the property and assets and liabilities of the Association givjng such particulars, as !vill disclose the general nature of these Iiabilities and assels and how Lhc value of fixed assets has be€n arrived at. 3. 'the auditcd statement shall be open to the inspcction of eny membcr of rhe Association during omce hours snd in the oflice of lhe Association and a cop] thereof, shall be submitted to thc compctent authority not later than 31st March ever\' \'ear. 4. tlvery financial statement shall b€ accompanied by a complete list of the aparlment owners. There shall also accompany the financial statement in a similar Iist o[ loans. The financial statement shall state up to what date profits aod expenses of the areas are included. 4A. PUBLICATION OF & REPORTS A copy of the last linancial statemcnl and of the Report of the auditor, if any, shall be kept in a conspicuous place in the office of the Association. 49.APFOINTMENT oF AUDITOR : -The Association 6hall a ppoint at its general meeting. an n uditor rvho shall audit thc accounts of thc Association to be prcpared b)'the Board, as hercinabove proeided and shall examinc the w;r--"4 n $1, a lll iry the sanre, \\rth the accouDts r,:l.,lir:1 : L-r, ro ]rd I :::.: -1i.l $ atl t'iite r ln tlcoolda ne as fourld ln him Lo be corre,t.,irti \,'i,'r,C all(l . nr stxcii,lh '(l!,rt orl,cAss\r.''. i: . ,:r.rr l----- he ouched or no( r itccor(lancc !\,tlr l!n L--(:.-- mlne OR:-Thc Au(Lror sharll be (,Drrl l , ,, il ,ir .|Lll pers or documcnts bclonging to thc Asso( ri,l the common areas & facilrLres (rncludiDg lLmited,' rcst.i((,-il i:,.ts .ir).1 facihties) and com on expenscs aDd shall rnake a spr',_ral rri ,,' (,r liri: Association upon any matter connr( L(d rvith the accr)Lrrirs \l r. lr ll)pe.r lr) him require notice. CHAPTER - VII MORTGAGES 51. NOTICE OF ASSOCIATIO : -Arr o\\'ner, who morlga!t, s l:is rrr, slr,rll notify the Associatiorl through thc nranager, if an]', or'th,'jr]rrsr,l,'rLr ol tlr(r Board, in lhe eveDt therc is no $lanagcr, the Danrc and .L(i1r.1;: (,i hrlt mortgagee and the Assoclatron shall lDarnrain such rrlorrr-..11:(rir rll,r booli entitled Mortgatees ol units. 52, NOTICE OF UNPAID ASSESSMEIITSj -The AssociaLro:: slr.rll rt thc request of a mortgaBee of a uniL. r(iport anl unpaid xssessn),rr,1:i :l lronl the owner of such unit. CHAPTER - IX COMPLIANCE 53. COMPLIANCE; -lhrse ble )a!\s iire set forth to ( or.rph $rtlt tlrc requirements of Lhe Mailarashtra Al)ar-Lulent O\r'nership Act l97l lD casc any of these bye-laws conllict $ith lhe provisions o[ the sai(l A( t. rl is h.]rel)r agreed and accepted that rhe provrsrons of the Acr will appl\ 54. SEAI OF THE ASSOCIATION :-l'he Assocratron slr:rli hrr,c ir.,irnrorl seal which shall be in thc cuslod,v of the sccretary an.l shali lJ( us.(l (,ol\ under the authority of a resolutron of the tsoaril a-rrl ,'rr'rr ,lcc[e r, e, ( tflffI L I ;mr r- qlqrl dr{+r . alilt r.r dErqr h(qrr{ r-ri6 , :rr! I r { ftr'{iF i fil- I !i:r, r! trg Flrf, { JqE||r4: ]1't0 li_- IItata,tb.t7lF ,E FrIrS q Tr(tr al! rdel tu tAla,l/Rld,,t6r l7l r& I trr]. r rfdtprfu fir ttr ]lT51TJ1!i Q ql.It t. uri fi.{i6 16'{ JrT ql dl ri.ll i0 116912 15066E1.1t070r1 f,driaE fta rl* r:.oo.orr id{ nft{T{ r- rrfrr.700.00 -fl,}I ...-2..r1Gf ;-,,;1; 6';;1 1ffi nff -.r rl :ir,b R ::; l -r. i?- 6[*., :rrsifr Joint israr Nashik3 7.):.t :i. 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