7_ I I uot4517 cri-fr Orig inal/Duplicate Thursday,June 17 ,2021 rfepft. *. :39q 4:21 PM Regn.:39M qr+ff;i;.: 5478 ft-{ifi 17106t2021 rr,-+ri qrq: qreriq -,::_"_* a ffir*a 6 ffi qRE.( \ \ dtolt) a -8.' Edh 1. ( ,6.v TVIENTH: That so long as the Grantors owns one or more of the farDily units, the Grantors shall be subject to the provisions of this Deed and of tlle Exhibits A and B attached hereto and the Grantors ionvenience to take no action which will adversely affect the rights of the Association of Apartment Owaers with respect to assulances against latent defects in tl.e building or other rights assigned to the Association by reason of the establishrnent of the 'VTVEK PARX APARTMENT'I Condominium. l THTRTEENTH: That thc general Common areas and ilacilities sha.ll remain undivided and no apar.tment owner shall bring any action lor partiLion or division thereot FOITRTEENTS: That the percentage of the undiiided interest in the restricted common areas and facilities established herein shall not be charged except with the unaaimous consent of a-ll ihe apartment owners expressed in arrendment to tliis declaration duly regist{red. r1 FIFTEEI'ITH: That the undivided interest in the reslricted common areas and facilities sha.ll not be separated from the farrfily unit to which it appertains and shi]l be deemed conveyed or encumbeled with the unit even though such inteiest is ngt expressly mentioned lor described in the conveya-nce or other instrument. SD(IEENTH: That each apartrnent owner shall complyjwith the provisions of this declaration, the bye-laws decision and resolution$ of the Association of Apartment Owners of its representative and failure to pomply with any such provisions decisions or resolutions shall be grounds foi an action to recover sums due, for damages, or for injunctive relief. SEVENTEENTH: That the dedication of the property to ithe plan of apartmeht ownership herein shalt not be revoked or th9 property ipmoved frorn the plan of apartment ownership or any of the provisions herein lamended unless all of the apartment ownbrs and the mortgagees of all the dLortgages covering the units unanimously agree to such revocation or amendment, or removal of the property from the plan by duly registered instrument. EIGHTEENTH: That no apartftent owner of a family unit may exempt himself from liability for his contribution towards the commorr expenses by waiver of the use or enjoyment of any of the general and/or common areas and faci.tities or by the aba-ndonment of his family unit. NINTTEENTH: Alt sums assessed by the Association but unpaid for the share of the common expenses chargeable to any family uriits shall constitute a charge on such faniily unit prior to all other charges e(cept only (1) charge, if any, on the family unit for payment of Government or Municipal Taxes or both and (2) all sums unpaid on a first mortgage of the apartment. TWENTITH: That all present or future owners, tenants, future tenants or any otlter psrson that might use the facllities ol the building in any malner, are subject to the provisions of this declaration and that the mere acquisition or rental of arry of the famity unit of the building or the meie act of occuparcy of arry of tlte said units shatl sigri.ify t}tat the provisions of this declaration are accepted and ratilied- The respective family unit shal rj.ot be rented or given on leav€ alld lieense or care taker basis by the app. owncrs tlrereof for transi€nt or hotel purposes, which shall be defined as (a) rental compensation or compensation for any period liss than thirty days or (b)' any refltal or if the occupErnts of the fAmily unit are provided customary hotel or boarding or lodginB or payinEgucs! services other than the forgoing obtigations, the app. ownirs of ttre respective family unit shaLl have the a{solute right, to lease such unit or give it and leave ard license or care takei basis proeided that 7 T€.{-? a ffi8.{ n\qtuti) o !J & ,1 said leade'or. Ieave and license or care taker basis is made subject to the covenalts arld restrictions contained in this Declaration and further subject to the bye laws in Exhibit B attached hereto. TWENTY FIRST: That if the property, subject to the plan of app. ownership is totally of substantially damaged or destroyed, the repair, reconstruction or disposition of the property shall be as provided by tlle Ma_harashha Apartment Ownership Act I970. TV/ENTY SECOND: That where a family unit is sold by a mortgagee is exercise of his powers of sale under ajl English Mortgage dgain3t the owner of such family un.it, then neither the mortgagee nor the purchaser who derives ti e to the family unit at such sale, or his successors or dssigns shall be liable, for assesdments by the association of title by such acquirer, it being understood, however that the above shall not be construed to prevent the association of apartnent owners from filing and claiming charge for such assessmentg and enforcing same as provided by laws, and that such charge shall be sub-ordinate to such mortgage. TWENTY THIRD: That in a voluntary conveyance ofa family unit the glantee of the unit shall be jointly and severally liable for all unpaid assessments by the association of apaitment owners against the respective share of tl.e common expenses up to the time of the grant or conveyance without prejudice to the grantee's right to recover from the grantor the amount paid by the grantee t}lereof. However, any such grantee shall .,be entitled.to a statement from the Manager or Board of Manager+of the aslociation, as-ithe case may be setting forth the account of the unbaid a-ssessmentsJaigaii;iStrUi6 grantor due to the association and such g'antee shall not.liqjiable for, nor shall the family unit conveyed be subjett to d chaige. {or, any uDBaid assessment made by the association of apartment qwners a!5inst l5sigrant6r :., TWENTY EOURTH: The amendment to this beaeia.tion willlbe effected after passing a resolution to that effect in the meeting of the eriEr'd Aii-adiiiint.. Owrers and for such resolution the consent oI each apartment owner for the same rvill be necessary and in pursuance of the resolution passed the Board of Managers will be entitled to elfect such amendment to the declaration provided such amendment is registered. TUTENTY FIFTH: The service of the notice and/or summons or any type of the correspondence will be made at the address subsequently informed by the Apartment. Owners to the Board of Managers in writing. SCHEDULE OT THE SAID PROPERTY All that piece and parcel of property land admeasutitg 4O7,89 Sq. Mtr8. out of Plot No. 3 to 4 out of Gat No.473l26 total adEeasuriEq 422'49 Sq. Mtrs. lout of whlch 15.OO sq. Mtrs, ls subjected to road widenlng) situated at Village Adgaon, Tal. Dist. Nashik, witiin Nashik Municipal Corporation and within registration and sub registration district of Nashik bounded as follows:- On or towards East By Colony Road On or towards West By Plot No. 2 and 3 out of Gat No. 480 On or towards South By Colony Road On or towards North By Plot No. 2 i-, I srcNED sEAIED;i!D DELIVERED l BY THE WITHIN NAMED MR. PRATEA:IIT.ESU.VIVEK GANGI'RDE I I XeuY r aR8r.tro( ir; .,1 I Witness :- I 2. w ) \ca.J.^.\ I *\ q-q''4-? ijfi ( \I/10il) \ EHfr-? 9 SU r.B' qRn.( o\Jtr"tL ,4S tt r) 1a EIreIT(B' BYE L"A.WS OF "VIVEK PABI< APARTMENT' CONDOMINruM CHAPTER I 1) SHORT TITLE & APPLICATION These bye-laws may be called "the Bye-laws of the 'VMK PARK APARTMENT" CONDOMINruM. The provisions of these bye laws apply to the .VIVEK PARI( AIARTMENT" CONDOIIINruM. All present or future owners, tenants, future tenants or their employees or any other persons t}lat might use the facilities of the building in any manner, are subject to the regulations set forth in these bye laws, The mere acquisition or rental or takirg on license of any of the lamily units (Hereirafter referred to as the "Units' ) of the building or mere act of occupajrqr of any of the said units will signiry that tlese bye Iaws are accepted ratified and wiu be complied qrith. 2) DEFINITIONS: 1) In these bye laws, unless the context requires otherwise, a) "Act" means the Maharashtra Apartment Ownership Act, 1970. b) "Association" means the association of all the Apartments Owners Constituted by such owners for the purpose of 4VMX PARK APARTMENT' CONDOMINIUM. c) "Board" means a Board of Managers consisting of 3 persons all of whom shall be owners of Apartment in the "vMK PARK APARTMENT" CONDOMINII'M. d) "Building: means the building located on land adEeasuriDg 407.89 Sq. Mtrs. out of Plot No. 3 to 4 out of Gat No.473126 total adEreasurl!4 422- 89 Sg. Mtrs. (Out of whtch 15.OO Sq. Mtrs. is subjected to toad wldenlng) situated at Vlllage AdgaoE, Taluka and District Nashik, and known as the "vTvEK PARK APARTMENT" coNDoMIMUM and includes the lard forming part thereof. e) "Declaration" meruls the declaration which the sole owners of the building or all the owners of the building have execute registered as provided in the section 2. g) "Owner' or "Apartment Owne/ means the person owning apartment in the "VIUEK PARK AP,ARTMENT" CONDOIIIMIJII. h) "Section' means a section of the Act. I) "unit" me ans a family unit in the 4vIvEK PARI( APARTMENT" CONDOITINIUM. j) "Registrar" means the Registrar of the co-op. Societies. 2) Words & expression used ir these bye Iaws but not defined tlerein shall have the meaning respectively assigned to them in the act. 3) ARTMENT OWNERS The Building located on the lard adEeasuring 407.89 Sq. Mtts. out of Plot No. 3 to 4 out of Gat No.473l26 tota.l adroeasurhg 422-a9 sq. Mtrs. (Out of whtch 15.OO Sq. Mtrs. iB subjectcd to road q'ldetring) situated at Village Adgaon, Taluka and District Nashik, known as the 4vTgEN PARX APARTMENT" CONDOMINIIDIT is submitted to the provisions of the Act. 4j OBJECT OF ASSOCIATION: 1) The objects of the association shall be IO F aL To be and act as the associatio+ oI the Apartment Owners of .the builaing called land adEeasurhg 40?.89 Sq. Iftrs. out of Plot No. 3 to 4 out of Gat No.473l26 total adroeaaurlng 422-A9 Sq. Mtre, (Out of trhich 15.OO Sq, Mtrs: is subjected to road wideaing) situated at it/lllage Adgqon, Taluka and Districl Nashik, (Hereina[ter called the "Said Buildihb") who have filed their {espective Declaratibns submitting their apartinents to ttre provisions of the Act. b) To invest or deposit moheys: I To provide for tl.e maintenance, repair & replaCement of tJ.e comr{on areas & facilities by coDtributions froa the aprirtment owneis, and if necessary, bJ/ raising loans for that purpose: i d) To retain & rent orilicense if possibler suitable portions of the common areas to outsiders for commercial purfloses ard to distribUte the commdn profits ,left after deducting tfe common expenSes amongst the apartment owners as common prohts or accumulate the e) same for buflding up arreserve fund: i To provide for a.11 & do all & any oI the matters provided in the Sub .l Section (21 of Section 16: 0 To advarce, with thc consent oftthe Apartmeht owners, any short term loarts to any apartment owners in case of emergent necessid & to provide for the repayment thereof in lump-sum or in installments: 8) To establish & carry on, its own accounts or jointly within individuals or institutions, educational, fhysical, social & recuperative activities for the benelits of the Apaftment Owners: h) To frame rules, within the approval of the gineral meeting of the association & aJter consulting the Competent Authority & may establish a provident fund alld gatuity fund, if necessar5r, for the beneflt of the employees of the Association: r) To do all the things necessary or & otherwise provide for their welfire expedient for the attainment oI the objects specified by the bye-laws. 2) The association shall not act beyond the scope of its objects withdut duly amending the provisions of thele bye laws foi the purpose. s) MEMBERS OF THE ASSOCIATION: Al1 persons who have purchased apartments in the "vIvEX PAix APARTMENT' CONDOMINIUM & executed respective Declararions u/s. 5 submitting their apartments to provisions of the act +all automatically lbe the members of the association, and shall pay the sdme of One Rupee as .,) entrance fee & may purchase at least one share of the f{ce value of RS. 100/- each, Each apartment owner shall receive a copy of theibye-laws on paymint of One Hundred Rupees. 2) Upon ajry Apartment owner selling his Apartment or absolutely conveyihg the same by way of gift under his will or otherwise, the Purchaser or Dohe sh4l automatica.lly become a member o[ the Associatiod, & sha.ll be a&nit(ed as member on payment of the Fntrance of One Rupee. The shares held by the Apartment owner shall be tralsferred to the name of such purchaser or dohe orlpaytnent of one rupee to the association. ,._ 3) On the death of an apartment owner, his apartment ;hall be transferred to the person or persons to whom he bequeaths the same by his will, or to the lagal r€presentative! of his eState, in case he has ndt made any specific bequ-est-{of the apq{t4en!,).Th-a nallle of--thr legateeor tt-rq na-mq+ of the le$al rip?.sintatives j;intly shall be entered same, in the Tegister of apartmelt owners maintained by the Secretary for the purpose of Admiiistr.ation of the "vMK PARK APARTMENT' coNDoMINIt M as apaitment owner or joint apartm€nt owners. Where any legate is a minor, the aparEnent owner sha-ll bc ehtiued to appoirit a guardian of such minor. lt -{ ffifi.( holl). 6) JOINT APARTMENT OWNERS: Where an apartment has been purchased by two or more persoirs jointly, they shau be jointly entitled to the apaitment ard the shares of t}Ie Association shall be issued in their joint names, but ttle person whose name stands first in the share certilicate shall alone have the right to vote. 7l HOLDING OF ONE SHARE COMPI'LSORY: Every apartment owner must hold at least one share of t]le Association (Joint apartrnent owners holding the sharesjointly). 8) DISOUAUFICATIONS: No apaitrnent owner shall be entitled to vote on the questions of the election of the members of the Boald or the President, Secretary, Treasurer or any other office bearer or to be entitled to stand for election to such offrce if he is in arrears iI any sum due from him in respect of his Contributions for common expenses, for more than Sixty days on the last day of t}Ie Board would take place. qHAPTER - II VOTING QUORUM AND PROXIES 9) VOTTNG: Voting shall be on a percentage basis ald t}Ie percentage of vote to which the owner is entitled is the percentage assigned to the family unit or units in the Declaration. 10) ouoRUM: Except as otherwise provided in these bye-laws the presence in person oI a majority of owners shall constitute a quorum. 11) VOTES TO BE IN PERSON Votes shall be cast in person CHAPTER . III ADMINISTRATION 12) POWERS & pUTTES OF THE ASSOCTATION : The association shall have the responsibility of administrating the "VTi/EK PARK APARTMENT" CONDOMINIIIM, approvinB the annual budget establishing and collecting montily assessments and arrarging for the mallagement of the Condominium in an efficient manner. Except as otherwise provided, resolutions of the association shall require approva.l by a majority of the owners, casting votes in person. r3) PLACE OT MEETINGS: MeetinB of the association shall be held at suitable Place convenient to oivners as may from time to time be designated by the Association. 14) ANNUAI MEETINGS; The first arnual meeting of the association shal be held within a period of two months from the date of registration of the declaration. t:: t2 il \q ltoll) C Therealter the annrial.me6ting of the association shall be held on t]le 1st day of May of each succeeding ybar. At such meetings tJrbre shall be elected by ballot of the apartment owneis a Board of Managers in accordance with th; requirements of bye-laws 23. The owners may alsd transact such other business of the Association as may properly cone befori them. 15) SPECIAL MEETINGS: It shall be the duty of the President to ca.ll a special meeting of the Apartment Owners as directed by the resolution of t}le Board or upon a petition signed by a majority oI the owners and hayin8 been presented to the Secretary, or at the iequest of the Housing Commissioder, or as the ease may be, the Registrar or d.ny Officer duly authorized by him in his behalf. The notice of any special meeting shall state the time and place of such meeting sha.u state the time alrd place of such meetirlg and tlie purpose thereof. No other business shall be transacted at a special meeting except as stated ir the notice without the consent of four-frfths of the owniri presint in person. 16) NOTICE OF MbETING: It sha.ll be the duty of the secretary to mait orjsena a notice of each annual or special meeting. Stating the purpose thele6f as well as the time and place where it is so held, to each apartment owder, at least 2 but not more than 7 days prior to such meeting. The mailing oi sending of a notice in the manner provided in this bye law sha-ll be coniidered notice served. Notices of all the meeting shall be mailed or Sent to the Housing Commissioner, or as the case may be, the Registrar 17) ADJOURNED MEETINGS! If any meetings of any owners cannot be organi?ed because a quorum has not attended the owner who aie present, may adjburn t}re meeting to a time not less than 48 hours from the time the original tlre meeting was called. If at such adjourned meetingd also, no quorum ii presint the owners present in person been not Iess thall two shall form a quonim. 18) oRpER oF BrirsrNEss: The order of busi.ness at ail meetings of the ownels of units shall be as follows: a) Roll ca.ll b) Proof of notice of meeting or waiver of notice c) Reading of minutes of prebeding meeting. d) Report of Committees. . e) Report of the Housing Commissioner or the Registrai or of the OIIicer duty authorized by them if present. 0 Report of Committees. c) Election of Board of Managers. h) Unfirished Business, if any. D New Business. CHAP?ER TV BOARD OF MANAGERS 19} MANAGEMEIE OF ASSOEIA?ION: The aJfairs of the association shall be goveined by a Board of Managers 201 POWERSI AND DUTES QT,BOASD : l3 s t o v , The Board of Managers shall have the powers and duties necessaiy for the administration of the affairs of the association and may do all such acts and things as are not bye law or these bye laws directed to be exercised & done by the owners. 2I) OTHER DUTIESI I I . ln addition to duties imposed by these byeJaw! or Uy tne solution of the association the Board shall be responsible for the foflowing that is to say: I a) Care, upkeep & surveillance of the "VWEK PARX APARTMENT' CONDOMIMT M and the common areas and facilities and the restdcted common areas and facilities. b) CoUection of monthly assessment from the owners. c) Designation, employment, remuneration and dismissal of the personnel necessary for the maintenance and operation of the 'VTVEK PARI{ APARTMENT' CONDOMINIUM and the common areas and facilities and ttle restricted common areas and tle facilities, d) To provide for the manner in which the audit aJld tl.e account of t}le association shall be carried out. e) To inspect the accounts kept by the secretary and /or the treasurer and examine the registers and account books alld to take steps for the recovery of a.ll sums due to the association. f) To sanction working expenses, count cash balance and dea.l with Other miscellaleous business. c) To see that cash written up promptly and is signed duly by one of the members of the Boar:d authorized in this behalf. h) To hear and deal with complaints. 22) MANAGERT The Board may employ for the association a Manager at a compensation determined by the Board to perform such duties and services as the boatd shall authorize including but not limited to the duties listed in the bye-Iaw 23 ) ELECTION & TERM OF OFFICE At the first annual meeting of the association the tern of the office of two Mangers shall be fixed for three years. The term of office of two Mangers shall be frxed at one year. At the expiration of the initial term of of,ice of each respective Manager. A Successor sha]l be elected to serve a term of three years. The Manager shall hold offrce until their first meeting. (lf a larger Board is contemplated, the terms of office shall or should be established in a similar marner so that they will expire in different years) 24]. VACANCIES Vacancies in the Board caused by any reason other than the removal of a malager by a vote of the association shall be lilled by vote of the majority of the remaining managers, even though they may constitutes than quorum and each person so elected shall be a manager until a successors is elected at the next annual meeting of the association. 25I REMOVAI OF MANAGERS: At any regular or special meetirg duly called any one or more of the managels may be removed with or without caused by a majority of the apartment owners and a successor may then and there to fill the vacancy ! 4"',J ..{ t4 ri us created. Any manager wlTose removal has-been pioposed 6y the owners shall be givcn an opportunity to be hear:d at the meeting 26) REGI'LAR MEETINGS: Regular meetings of the Board may be held at such time a-nd place shall be determined, from time to time by a majority of managers, but at least two such meetings shall be held during each year. Notice of regular meetings.of the board Shall be given to each manager, personally or by mail, or by telegraph, at least three days prior to the day named for such meeting. 27) SPECIAL MEETINGS: Sp€cial Meetings of the Board may be called by the President on three days notice to each Manager, give personally or by mail or telegraph, which notice shall state the time, place (as herein above provided ) and purpose of the meeting. Special meedngs of the Boar.d shall be calied by the president of Secretary in like manner and on like notice on the written request oI at least three Managers. 28) WAMR OI. NOTTCE: Before or at ary meeti4g of the Board, any, ma+ager, may in writing, waiver notice of such meeting:€tnd such waiver shall beldeemed equivalent to the giving of such notice. Attqndance by a Manager atjmeeting of the Board shall be a waiver ol1 notice by him of the time and the place thereof, If all the Managers are present at any meeting of t]le Board. no notice shall be required and any bnsiness mai be transaited at such meeting. 2e) Qgg8g!8: At all meetings of tl1e Board 1/3 oI the total strength of the Managers shall constitute a quomm for Mangers present at tii meeting at which a quorum is present shall be the acts of the Board. If at any meeting of the Board there sha.ll be less than a quomm present, the majority of those present may adjoum the meeting, from time to time any business which might have been transacted at the meeting as originally called may be transaction without further notice, provided there is a quorum present. 30) E!DE!!rf_E9.rDS: ) The board may require tiat all ofhcers and employees of the association handing or responsible for association funds shall furnish adequate lidelity bonds. The premiums on such bonds shall be paid by the association. CHAPTER V OFFICERS 31) DESIGNATION: The principal ollicers of the association shali be president, Vice President a Secretafy and a Treasurer aII oI whom shdll be electi:d by and form -the Board. The Board 4ay appoint an assistarit' Treasuf-er anif.eti assistant Secretary ard such other officers as in therp judgement may be necessary. In'the case an association ofOne Hundred owners or less, tfte officers of Treasurer and Secretary, may be fllled by the same person. 32) ELESITON Or OFFTCERS: t5 ffi-.R E $*( 1'r.Q lror0 Cl €7 The Officers of the association sha.ll be elected annually by t}le Board of the Organiz€,tio. meeting of cach new Board and shatl hold olfices at the pleasure of the Board. 33) REMOVAL OF OFFICERS: , Upon an aJhrmative vote of a majority of the members of the board arly oflicer may be removed either rx'ith or without cause and his successor elected at alry regular meeting of the Board or at any special meeting of the Board called for such purpose. 34) PRESIDENT: The President shall be t}le Chief Executive OIIicer of the Association. He shall preside at all meetings of the association and of the Board. He shall have all of the general powers ard duties which are usually vested in the office of president of an association, including, but not limited to the power to appoint committees from among owners from time to time as he may in his discretion decide to be appropriate to assist in the conduct of the affairs of the association. 35) VICE PRESIDENT: The vice-president shall take t}le place of the president altd perform his duties whenever the President shall be absent or unable to act. If neither the President not the Vice President is able to act, the board shall appoint some other member of the Board so to act on an interim basis. The vice president shall also perform such other duties as sha.ll from time to tiEe be imposed upon him by Board. 36) SECRETARY: The Secretary shall keep t}le minutes of all meetings of the Board and the Minutes of all the meetings of the association, he shall have charge of such books ard pap€rs as the Board may direct; and he shall, in general, perform all the duties incidenta.l to the offrce of the secretary. 38) IBEASSBEB: The Treasurer shall bc responsible for association funds and securities and shall also be responsible for keeping full and accurate accounts of all the receipts and disbursements in books belonging to the association. He shall be responsible of the deposit of all moneys and other valuable effects in the name aIrd to the credit and the association in such depositories as may from time to time be designated by the Board, CIIAPTER VI OBLIGATIONS OF THE APARTMENT OWNERS 39) ASSESSMENTS: All o\^/ners are obliged to pay monthly assessments imposed by the Association to meet all expenses relating to "vIvEK PARK APARTMENT" CONDOMIMUM, which may include an insurance premium for a policy to cover repair work and reconstruction work in case of hurricane, fire, and earthquake or other hazard or calamity, The assessments shall be made pro- rata according to the value owned, as stipulated in the declarations. Such assessments shall include monthly payments to a General Operating Reserve Fund ard a Reserve Fund for replacements. 40) MAINTENANCE AND REPAIRI SU lt.i) art l6 Y l._l E i, ffi 1) Dvery owEer must perform promptly, all mairftenaiiae repair woik withih his own unit, which i.f omitled would affect the "'(IIUEI< PdRX APARTMENT' CONDOMINIUM in entirely or in part belonging to other owners, being expressly responsible for the dam4ges and liabilities that his failure to do so may endanger, 2l All the repak of the intemal installation of the unit s\rch as water, light, gas, power, sewage, telephones, air-conditioners, sanitary, insta.llations, doors, windows, lamps and all other accessoriesl belonging to the unit area shall be at the expense of the apartment owrier concemed. 3) An owner shdtl reimburse the Associaton for ariy iexpenditures incu*ed in repairing or replacirg any common aieas & faqility damaged throirgh his fault. 41) USE OF FAUITY UNITS-NMERNAL CH.ANGF,SI 1l A]l- units (exc€pt unitg on the Gr-ound floor, premises) shal! be utilized for residential Fqrposes only) "dop i 2l An owner shall not make any stnrctural modificqtions or a.lterations in his unit o! installation }ocated therein without pieviously noti{ying ihe association in writing, through the President of th! Board if no manager is employed. The Association shall have the obligf.tion to answer within thirty days and failure to do so within the stipulated time shall mian that-thert is no objection to the pioposed modiircations, alterationl or in stallation. 42) USE OF COMMON AREAS AND FACILITIES AND RESTRICTED COIIMON AREASi AND FAC&ITtrES: An owner shall not place or cause to be placed tor cause to be placed in the lobbies vestibules, stairways, elevators and other areas of "VffbK PARK APARTMENT' CONDOMIMUM and facilities of]a similar nature both common ard restricted, any fprniture, packagcs or ob.lects of any kind srich areas shall be used for no other purpose than for fdrmal trarsit tirough them. 43) RIGHT OF ENTRY: a) An owner shall grant the right of entry to the M4nager o! to any other person autltori"€d tiy lhe Board or the Association in case of an emergency originating in or treating his unit whether the owner is Present at the time or not, b) An owner sha.ll permit other owners or their representative when so required to enter his unit for the purpose of performing installations, a-lterations or repairs to the mechanical or elect{ical services provided that requests for electrical services provided that]request for entry Are -time -convenient made in advance and that such en1ry i" at d to dhe owner. In case of al emeigency, such right of entri shall be immediate. 44) RITLES OF CONDUCT: 1l No resident of the "VTyEK PA:RK APARTMENT" c ONDOMINR M shalt post any advertisement ,or posters of any kind ET or on the building except as authorized by the association. 2) Residents shall exercise extr€me eare about B akin! noises or the usq of the musical instruments, radios televisions andi ampliliers that niay t7 qffi=-? 1\gtoili' disturb others, residents keeping domestic anima.ls shall abide by the Municipal Sanitary bye laws or regulations. 3) tt is prohibited to hang galments, rugs, etc. from the windows balconies or from any of the faces of the ..VTVEK PARI< APARTMENT, CONDOMINITIM. 4) It is prohibited to dust rugs, etc. by beating on the exterior part of the said condominium. 5) It is prohibited to throw garbage or trash outside tle disposal installations provided for such purposes in the service areas. If such installation is not provided all garbage or trash sha.ll be collected in a vessel ard thrown in the municipal dust bin. 6) No owner, resident or lessee shall insta.ll wiiing for electrical or telephone installation television antenna, machines or air conditioning units, etc. on the exterior of the 'vrVEN PARX APARTMENT" CONDOMINfUM or that ported through the walls or the roof of that condominium except as authorized by the Association. CHAPTER . VII rUNDS AND THEIR INVESTMENTS 45) FUNDS: Funds may be raised by the Association in all or any of the following ways namely: a) By shares b) By contributions and donations from t}Ie apartment owners. c) From common profits which shall form the nucleus of the reserve funds. d) By raising loans, if necessary subject to such terms arld conditions as the associations, with the approval of the Competent Alitiority may determine in his behalf. 461 TNVESTMENT; The association may invest or deposit its funds in one or more of the following: a) In the Central Co. Op, Bank or in the State Co. Op. Bank or in the State Co. Op. Bank or any other Schedule Bank decided by the meeting. b) In any of the securities specified in Section 20 of the Indian Trusts Act i 882. c) In any Co. Op. Bank other than those referred to in clause (a) of this bye laws or in any banking company approved for this purpose by the association. 47I AFFILIATION: Should there be any Federation of Apartment Owners in the localiry in which the 'VMK PARK APARTMENT" COIfDOMIMUM is situate, the association may, after consulting the competent authority, become a member thereof and pay the sums from time to time payable to such federation under the rules thereof, 48) 49e9!Ifls: l) A banking account shall be opened by the association into which a.ll moneys received on behalf of the association shall be paid, provided that the Secretary may retain in his personal custody an arnount not exceeding RS. IE "B"${ffi'*B , lhlr) c ! W IOOI-for petty expenses. AII payment above RS. tOO/: sh.L O o" o, Cheque by the secrela5, arrd one member of the board. 2) Each apartment owner shall have a pass book in which the secretary shall enter amount paid to bb or leceived for his share in receipts of prdfits from common areas and contributions towards common expenses and his share of assessment and other dues, if any, in respect oI his apartments. 3) Tbe association shall on or before 3lst July in each year publishian audited annua.l frnancial statement in respect of the common a-reas and facilities containing: a) The profit and lpss accourlt: b) The receipts and expenditure of the previous financial years and, c) A summary of the property and assets and liabilities of the common ' areas and facilities of the association giving sulh particulars as will disclose the ginera.l nattire of these liabilities and assets and how i:he value of fixed assets has been arrived at: 4) The audited hnancial statement shall be open to the inspection of any member of the association during office hours and in the office of the association and a copy thereof shall be submitted to the competent authority not later than 15th August every year. 5) Every frnancial statement shall be accompanied by a complete list of the apartment owners. There shall also accompary the financial statement in a similar list of loans, The financial statement shall state up to what dhte prolits and expenses of common areas are included. 49) PUBLICATION'OF ACCOUNTS AND REPORTS: A copy of the last financial statement and of the report.of the auditor, if any, shall be kept in a conspicuous place in the officc of the association. 50) APPOINTMENT OT AUDITOR: The association shall appoint at its genera.l meedng an auditor who shall audit the account of the association to be prepa-red by the board as herein above provided and sha.l-t examine the annui return- and veri& the sanie, with the accounts relating theieto and shall either sign the saEe as found by htn to be coriect, duly vouched and in accordance vith law, or specidlly report to the association in what respect he finds it i-ncorrect , unvoiced or not in accordance with law. 5r) POWER OF AUbITOR I The auditor shall be entitled to call for examine any papers or docume4ts belonging to the association relating to the common areas and lgcilities (includinfliinited common areas and facilitidsl arr..-af Citrimon Epense=- dhd shall make especial report to the association upon any matter connected with the accounts which appears to'him to require notice. CHAF-TER . VITI :il6Rrd;cEs. 52) NOTIeE TO ASSOCIATION: Arl owner who mortgages his units shall notily t]:Ie association through the Manger, if any or the President of Board, in the event there is no