STRATA PLAN 124 BYLAWS AND RULES PART 1 BYLAWS

Transcription

1 Page 1 of 13 STRATA PLAN 124 BYLAWS AND RULES PART 1 BYLAWS Contents Duties of an Owner... 2 Powers and Duties of Strata Corporation... 5 Maintenance & Repair... 5 Fines for Contravention of Bylaws or Rules... 6 Removal of Council Member... 6 Council of the Strata Corporation... 6 Duties and Responsibilities of Council... 7 Limitation on liability of council member... 8 General Meetings... 8 Proceedings at General Meetings... 8 Voting at Meetings... 9 Finance... 9 Rentals Limited Common Property Short Term Exclusive Use Arrangements Policy (Strata Parking Spaces and Lockers) Balcony Enclosures Co Ownership Obligations Spencer Castle Corporate Common Seal... 13

2 Page 2 of 13 STRATA PLAN 124 BYLAWS AND RULES PART 1 BYLAWS The Bylaws below are the complete Bylaws of Strata Plan Effective January 1, 2002, bylaws 2 to 22 are the complete bylaws of Strata Plan #124. All bylaws previously filed in the Land Titles Office are deleted. Any Standard Bylaw from the Strata Property Act that is not in the bylaws below does not apply to Strata Plan #124. (Note: Bylaws subsequently amended will be annotated: [Amended AGM/SGM and date].) Duties of an Owner 2. An owner shall: a. pay his/her strata fees by cheque or money order made payable to The Owners, Strata Plan #124 on or before the first day of each month: b. permit the strata corporation and its agents, at all reasonable times, on notice (except in cases of emergency, when no notice shall be required), to enter his/her strata lot for the purpose of inspecting, maintaining and repairing, or renewing pipes, wires, cables, and ducts for the time being existing in the strata lot and capable of being used in connection with the enjoyment of any other strata lot or common property, or for the purpose of maintaining, repairing or renewing common property, or for the purpose of ensuring that the bylaws are being observed; c. have a lock on the main entrance door of his/her condominium which can be opened by the master key in the strata council s possession, or provide the council with a duplicate key tagged with the suite number and the name of the occupant, or notify council where a key is available within the building. Any costs or expenses incurred by the strata corporation as a result of failure to comply with this bylaw on the part of an owner shall be charged to that owner and shall be added to, and become part of, the assessment of that owner for the month next following the date on which the costs or expenses are incurred; d. repair and maintain his/her strata lot, including windows and doors and areas allocated to his/her exclusive use, and keep them in a state of good repair, reasonable wear and tear excepted; e. use and enjoy the common property, common facilities or other assets of the strata corporation in a manner that will not damage them or unreasonably interfere with their use and enjoyment by other owners, their families and visitors; f. notify the strata corporation promptly of any change of ownership of, or of any mortgage or proposed lease of, or any other dealing in connection with his/her strata lot; g. comply strictly with these bylaws and all other bylaws of the strata corporation and with rules and regulations adopted from time to time;

3 Page 3 of 13 h. receive the written permission of the council of the strata corporation before undertaking alterations to the exterior or structure of the strata lot, to fixtures built or installed on a strata lot, if the fixtures are built or installed by the owner developer as part of the original construction on the Strata Lot, to common property, including limited common property, or to common assets. The strata corporation may require, as a condition of its approval, that the owner agree, in writing, to pay all costs of the alteration, all future expenses incurred because of the alteration, and for maintenance or repair of the alteration. Permission to make alterations to the interior of a unit shall not be unreasonably withheld. [Amended SGM, June 22, 2009] i. purchase sufficient personal insurance each year to i. pay the deductible for any claim that originates from his unit and ii. his/her share of the earthquake deductible based on the Updated Replacement Valuation of the Strata Corporation each March. [Amended AGM April 25, 2013] 3. For the mutual enjoyment and benefit of all occupants of the building, the use of strata lots is limited as follows. An owner or resident of a strata lot herein shall NOT: a. use his/her strata lot, or permit said strata lot to be used, for any purpose which may be illegal or injurious to the reputation of the building; b. do anything, or permit anything to be done, on his/her strata lot or the common property that is contrary to any statute, ordinance, bylaw, or regulation of any government authority whether Federal, Provincial, Municipal, or of Strata Plan 124; c. use his/her strata lot, or permit the same to be used, in a manner or for a purpose that will cause a nuisance or hazard to any occupier of a lot (whether an owner or not) and his/her family; d. keep any animals on his/her strata lot or the common property except fish and/or birds, on the understanding that if council, on reasonable grounds, considers a permitted bird to become a nuisance, such bird shall not be kept on the lot or the common property fifteen days after notice to the effect is given in writing; e. do any act, or permit any act to be done, in his/her strata lot which will alter the exterior appearance of the structure comprising the strata lots; f. erect or hang over or outside any window or door of a strata lot, or on the common property, awnings, shades, or screens, and he/she shall not permit such acts; g. hang drapes, verticals, venetians or blinds next to the window of any colour other than ecru, ivory or off white. Over drapes of another colour, if installed, must always be masked and never be visible from the outside of the strata lot; h. apply or have applied residential window film that has a rating of less that DN33%. The colour of the film must be approved by the Strata Council. [Amended, AGM, 2007] i. store or leave any personal property (other than a properly parked car, truck, small van or motorhome, or a neatly stored collapsible cart for transporting purchases from his/her parking space to his/her unit, motorized scooter,

4 Page 4 of 13 motorbike, bicycle, wheelchair or walker) continuously in his/her parking space. Council s written permission must be obtained in advance in order to store items other than those listed above in his/her parking space. j. rent his/her parking space to, or permit it to be used on a continuous basis by, someone who is not a resident of Renters/users of a parking space must conform to bylaw 3(i) above. The owner must provide an electric transmitter to permit access to the parking space, said transmitter to be reclaimed by the owner when the rental/permission terminates [Amended AGM April 25, 2013]; k. install floor covering that deadens sound less effectively than that implied by an Impact Insulation Class (IIC) rating of 70 or higher. IIC 70 standard can be achieved using a combination of underlayment and, if necessary, area rugs. Owners wishing to alter the flooring in their unit must advise Council as required in Bylaw 2(h) and agree, in writing, to use only products that meet the aforementioned IIC 70 specification and to have the products correctly installed so as to ensure that the specification is met. (Note: the Council will not approve specific products or installations responsibility for sound deadening remains with the owner. Owners are encouraged to use wall to wall carpeting in the bedroom areas and to keep relevant documentation for all changes made.) In the entrance hall of units, other than in the 01 stack, flooring with an IIC rating of 60 or higher may be installed up to the end of the washing machine closet. In the 01 stack, flooring with this rating is permitted up to 12 feet from the entrance. [Amended SGM, June 22, 2009] 4. For the mutual benefit and enjoyment of all occupants of the building, the activities within the strata lots are limited as follows. An owner or resident of a strata lot shall NOT a. feed or attract birds of any kind, or permit them to be fed or attracted, from a balcony, patio or window of his/her strata lot or from the common property; b. do anything, or permit anything to be done, on his/her strata lot or on the common property that will, or will tend to, increase the risk of fire or the rate of fire insurance premiums thereto; c. waste the domestic hot water supplied by the central system, or permit this to be done; and he/she shall not heat his/her suite, or permit said suite to be heated, from the central system except in an efficient and reasonable manner; d. allow his/her strata lot to become unsanitary; e. shake mops or dusters of any kind, or throw anything out from a window, door, balcony, or patio of his/her strata lot; and shall not permit anything of this kind to be done; f. erect, place, allow, keep, or display signs, billboards, advertising matter, notices or displays of any kind in or about his/her strata lot in such a manner as to make them visible from the outside of said strata lot, household ornaments and Christmas decorations excepted; g. hang, or permit to be hung, any laundry, washing, or clothing on the common property or in or about his/her strata lot in such a manner as to make it or them visible from the outside of the strata lot;

5 Page 5 of 13 h. allow oil and/or grease to accumulate on the floor of his/her parking space; and if this regulation is not observed after the council has brought it to the owner s or resident s attention, then the council shall be at liberty to clean up the parking space and charge the expense to the owner or the resident of the strata lot which includes the parking space; i. make or permit noise in or about any strata lot or the common property which, in the opinion of the strata council, is a nuisance or unreasonably interferes with the use or enjoyment of a strata lot by any other owner or resident; j. use or permit the operation of any washer, dryer, dishwasher, garbage disposal unit or vacuum cleaner between the hours of 11:00 p.m. and 7:00 a.m.; k. carry on barbecuing or outside cooking, or permit them to be carried on, if the owners or residents of neighbouring suites object and the council considers the objections to be valid; l. carry on or allow construction or renovation activities resulting in undo construction noise or disturbance, other than between the hours of 8:00 a.m. and 6:00 p.m. on weekdays and Saturdays, and not on Sundays or holidays, except in the case of emergency. [Added AGM April 25, 2013] 5. For the mutual benefit and enjoyment of all occupants of the building, the occupancy of strata lots is limited as follows. An owner or resident of a strata lot shall NOT a. use, or permit the use of, his/her strata lot other than as a single family dwelling; b. permit his/her strata lot to be used as a place of permanent residence by more than four (4) persons; c. permit his/her strata lot to be used as a place of permanent residence by persons under 19 years of age. Maintenance & Repair Powers and Duties of Strata Corporation 6. The strata corporation must repair and maintain all of the following: a. common assets of the strata corporation b. common property that has not been designated as limited common property; c. limited common property patios but the duty to repair and maintain them is restricted to i. the structure of the building; ii. the exterior of the building; iii. external window frames and non enclosed external patio door frames; iv. patio railings; v. the items specified in bylaw 18. d. a strata lot, but the duty to repair and maintain is restricted to i. the structure of the building; ii. the exterior of the building; iii. external window frames, non enclosed external balcony or patio door frames, and entrance doors that front on common property hallways;

6 iv. balconies, other than balcony enclosures (see bylaw 20); v. non enclosed balcony railings vi. thermostat and thermostat controlled motors and valves on heating pipes within the lot. Fines for Contravention of Bylaws or Rules Page 6 of The strata corporation may levy the following fines for contravention of: a. the rental bylaw $500 for each month or partial month the unit is rented b. any other bylaw $200 for each contravention c. a rule $50 for each contravention In the case of a continuing contravention of b or c, a fine can be levied every 7 days. Removal of Council Member 8. The Strata Corporation may, by resolution passed by a ¾ vote at a special general meeting, remove any member of council before expiration of his/her term of office and, at that meeting must appoint another person eligible to be on council in his/her place, to hold office until the next annual general meeting. [Amended AGM April 25, 2013] Council of the Strata Corporation 9. (1) In addition to the persons specified in section 28(1) of the SPA (basically owners in Strata Plan 124), other permanent residents in a strata lot (spouses, family members, etc.) may be council members, but only one person from a strata lot shall be a member of the strata council at any one time. (2) No resident of a strata lot shall stand for council or remain on council if the strata corporation is entitled to register a lien against that strata lot under section 116(1) of the SPA. (3) The council shall be elected by eligible voters at each annual general meeting. The council shall consist of six members. The retiring council shall remain in office for up to 7 days after the election of the new council, when the incoming council shall assume authority. [Amended AGM, 2007] (4) At least 4 weeks prior to the AGM the council shall appoint a nominating committee of three owners, not more than one of whom shall be a member of council. The nominating committee will nominate candidates for six specific offices (president, secretary, treasurer, building supervisor, and two castle representatives {whose duties are as assigned pursuant to the co ownership agreement}). The nominating committee s report shall be posted on the notice board at the P 2 level at least 7 days prior to the annual general meeting. [Amended AGM, 2007] (5) A retiring member of council shall be eligible for re election. It shall be the aim of the nominating committee to assure that each year a minimum of 2 members of the existing council be nominated for re election. However, the committee shall endeavour not to nominate a person who has just served two consecutive years on council.

7 Page 7 of 13 (6) Any two owners may nominate any other candidate eligible for election to a position on the council of Strata Plan 124, provided that the nomination is in writing, is signed, is accompanied by a statement of acceptance in writing by the nominee, and is in the hands of the secretary at least two full days before the date of the annual general meeting. Nominations may be made from the floor if the nominee is present and declares willingness to be nominated. (7) At the first meeting of the council held after the annual general meeting of the strata corporation, the council shall appoint one of its members to the office of vice president and a second to the position of garden supervisor. It will also appoint two of its members to be 2910 s representatives to the Castle Board with duties as assigned pursuant to the co ownership agreement. [Amended AGM, 2007] (8) Where the president is absent from any meeting of council, or vacates the chair during the course of a meeting, the vice president shall act as chair and shall have all the powers and duties of the chair while so acting. (9) In the absence of both the president and the vice chair, the members present shall, from among themselves, appoint a chair for that meeting, who shall have all the duties and powers of the chair while so acting. (10) If a vacancy occurs on council, the remaining members may assume the duties or appoint an eligible person to serve the remaining term. (11) A council member who misses three consecutive meetings without reasons acceptable to council shall cease to be a member of council. (12) Three members of council present in person form a quorum. (13) At meetings of the council, all matters shall be determined by simple majority vote. When there is a tie, the president shall have a casting vote. Duties and Responsibilities of Council 10. The council may a. meet together for the conduct of business, adjourn or otherwise regulate its meetings as it thinks fit, and it shall meet when any member gives to the other members not less than seven days notice of a meeting proposed by him, specifying the reason for calling the meeting, unless the other members agree to waive the notice; b. employ for, and on behalf of, the strata corporation such agents and employees as it thinks fit in connection with the control, management, and administration of the common property, and the exercise and performance of the powers and duties of the strata corporation; the appointment of a manager to be subject to approval by a resolution of the members of the strata corporation; c. subject to any restrictions imposed or direction given at a general meeting, delegate to one or more of its members, or to a member or committee of members of the strata corporation, or to its manager, such of its powers and duties as it thinks fit, and at any time revoke such delegation. 11. The council shall

8 Page 8 of 13 a. at least once a year cause the books and accounts of the Strata Plan to be reviewed by a person not currently on council who will then report on his/her findings to the annual general meeting. [Amended AGM, April 28, 2005] b. obtain and maintain earthquake insurance in addition to insurance for the perils specified in Regulation 9.1(2) pursuant to S.149(4)(b) of the SPA. Limitation on liability of council member 12. (1) A council member who acts honestly and in good faith is not personally liable because of anything done or omitted in the exercise or intended exercise of any power or the performance or intended performance of any duty of the council. (2) Subsection (1) does not affect a council member s liability, as an owner, for a judgement against the strata corporation. General Meetings 13. (1) The annual general meeting shall be held on the fourth Monday in April when the fourth Monday falls on or after April 26 th provided that it is not a statutory holiday. If the fourth Monday falls before April 26 th, or is a statutory holiday, the AGM shall be held on the closest feasible day to April 26 th. All other general meetings shall be called special general meetings. (2) Tenants and permanent residents may attend annual and special general meetings and participate in discussion whether or not they are eligible to vote. Proceedings at General Meetings 14. (1) The president of the strata council shall be the chair at all general meetings, or in his/her absence or in the case he/she shall vacate the chair, the vice president of the strata council shall act as chair, provided always that, if the president or the vicepresident be absent or shall vacate the chair or refuse to act, the meeting shall elect a chair. (2) The order of business at general meetings, and, as far as is appropriate, at all special general meetings, shall be: a) certifying the proxies and issuing a voting card for each strata lot represented at the meeting; b) determining that there is a quorum (1/3 of the eligible voters (14) present in person or by proxy); c) presenting to the meeting proof of notice of meeting or waiver of notice; d) election of chair, if necessary; e) approving the agenda; f) reading and disposing of any unapproved minutes; g) receiving reports of council activities and decisions and committee reports h) considering the financial reports;

9 Page 9 of 13 i) approving the budget for the coming year in accordance with Section 103 of the SPA if an AGM; j) ratifying any new rules made by the strata corporation under Section 125 of the SPA; k) reporting on insurance coverage in accordance with Section 154 of the SPA; l) electing a strata council, if an AGM; m) dealing with unfinished business; n) dealing with new business, including any matters about which notice has been given under Section 45 of the SPA; o) adjournment. Voting at Meetings 15. (1) At an annual or special general meeting, voting cards must be issued to eligible voters. (2) At an annual or special general meeting, a vote is decided on a show of voting cards, unless an eligible voter requests a precise count. A request for a precise count can be withdrawn. (3) Unless a precise count is requested, a declaration by the chair that a vote has, on the show of voting cards, been carried is conclusive evidence of the fact without proof of the number or proportion of votes recorded in favour of or against the resolution. (4) If a precise count is requested, the chair must decide if it will be by a show of voting cards, by roll call, by secret ballot or by some other method. (5) The outcome of each vote, including the number of votes for and against the resolution if a precise count is requested, must be announced by the chair and recorded in the minutes of the meeting. (6) If there is a tie vote at an annual or special general meeting, the president, or, if the president is absent or unable or unwilling to vote, the vice president may break the tie by casting a second, deciding vote. (7) Despite anything in this section, an election of council or any other vote must be held by secret ballot, if the secret ballot is requested by an eligible voter. (8) No vote from a strata lot can be exercised, except on matters requiring a unanimous vote, if the strata corporation is entitled to register a lien against that strata lot under Section 116(1) of the SPA. Such strata lot s vote cannot be considered for the purposes of determining a quorum. Finance 16. (1) The strata corporation shall not, except in emergencies, authorize an expenditure in the excess of $1,200 unless it has been specifically identified and enumerated in the approved budget or at a special general meeting. The total spent on all such unauthorized expenditures during the year shall not exceed $4,000.

10 Page 10 of 13 (2) The strata corporation shall not acquire nor dispose of personal property with a market value greater than $1,200 unless it has been authorized by a ¾ vote. (3) The strata council shall not, when avoidable, make financial contracts with owners or residents for work to be done by them on these premises. Payment for work done by owners on the Castle premises is governed by the Co owners Agreement. [Amended SGM, June 22, 2009] (4) When all or part of the strata fees become one month past due, an interest and service charge of 2% a month, compounded monthly, shall commence and shall be levied on the total amount outstanding until it is paid. Rentals 17. (1) Rental of a residential strata lot in Strata Plan 124 is prohibited. (2)Notwithstanding the provisions of subsection (1), an owner taking a break of residence for not more than one year may, with written permission of Council, rent his/her strata lot for that period in accordance with bylaw #5 without penalty, and permission shall not normally be denied. (3) Where an owner is granted an exemption from bylaw 17(1) under S144 of the SPA (hardship): a. the period of time for which the lot may be rented is limited to one year or less, and b. any rental is reserved for rental to a person who has reached 55 years of age, or to two or more persons at least one of whom has reached 55 years of age; c. the provisions of this bylaw shall apply to sub leases and sub lessees. Limited Common Property 18. (1) The use of certain parts of the roof over a portion of the car parking area within Strata plan 124 shall be restricted to the use, benefit and enjoyment of the owners for the time being of the following strata lots, each as to the particular area described: Strata Lot 1 (Unit 101): That part lying to the North of the extension Westerly of the most Northerly line drawn on Sheet 5 of Strata Plan 124 designating the separation of the patio of Strata Lot 2 from the remainder of Strata Lot 2; Strata Lot 3 (Unit 103): That part lying to the Southwest of a line drawn diagonally from the most Easterly Northeast corner of Strata Lot 3 to the Southeast corner of the said roof; Strata Lot 7 (Unit 107): Firstly, that part lying to the West of the extension Northerly of the common boundary between Strata Lots 7 and 45; and, secondly, that part lying to the West of the Westerly boundary of Lot 7 and to the North of the Northerly boundary of 1; Strata Lot 45 (Unit 106): Firstly, that part lying to the East of the extension Northerly of the common boundary between Strata Lots 7 and 45; and secondly, that part

11 Page 11 of 13 lying to the East of the East boundary of Lot 45 and to the North of the Northerly boundary of Lot 48; Strata Lot 47 (Unit 104): That part to the Northeast of a line drawn diagonally from the most Easterly Northeast corner of Strata Lot 3 to the Southeast corner of the said roof; (2) With respect to the areas defined in (1), the strata corporation is responsible for maintenance and repair of the structure and the basic aspects of appearance that are semi permanent and for which maintenance and/or repair normally occurs less often than annually (repairing cracks, resurfacing the patio, painting rails and door frames; etc.) and for cleaning or power washing the surface once or twice a year. The owner with exclusive use of the area is responsible for all other aspects of maintenance and repair. [Amended, AGM April 25, 2002] (3) Each owner of a strata lot specified in (1) is responsible for maintaining his/her limited common property (patio) in a manner that does not detract from the appearance or value of the 2910 complex as a whole or of the suites that overlook it. In case of dissension regarding detraction, council s decision shall be final; (4) No items shall be placed on LCP in such a manner as to unreasonably block the view from another suite. In particular, a hedge shall not be higher than the patio railings; (5) Should a patio not be maintained in the manner specified in (3) or (4), council shall request the owner to correct the situation. Should it not be promptly corrected, the owner shall be advised in writing to correct it by a given date. If not corrected by that date, council shall have the situation corrected, and charge the cost to the owner. If necessary, council may hire someone to maintain the patio on a day to day basis, and add the cost of such maintenance to the assessment due from that unit; (6) Subject to Bylaw 2(h) and subsections (3) to (5) above, an owner may supplement or upgrade the basics provided by council under subsection (2). However, owners contemplating alteration to the surface or other semi permanent alteration must obtain approval for their proposals from council before taking action. As a condition of approval, the owner will be required to sign an agreement to pay for all future expenses incurred because of the alteration and for the cost of maintaining and repairing the alteration. Short Term Exclusive Use Arrangements Policy (Strata Parking Spaces and Lockers) 19. (1) Strata Plan #124 has a limited number of common property (strata) parking spaces and lockers that are rented to residents on a first come, first served basis except in the case of parking space #6 which can be rented only for a small car. (2) A unit is entitled to rent only one strata parking space and only one locker. (3) A resident is eligible to rent or be placed on the waiting list for a strata parking space only if: a) he/she is a permanent resident of a unit occupied by at least two permanent residents each of whom has a vehicle, and

12 Page 12 of 13 b) the parking space owned by the unit and the rented strata parking space will both be used for the purpose of parking the permanent residents vehicles. (4) A resident who wishes to rent a parking space or locker must put the request in writing. (5) When all spaces/lockers are rented, council will maintain waiting lists of requests from eligible residents in order of date received. (6) Residents who currently rent a parking space or a locker may request in writing to transfer to a different space or locker. (7) As parking spaces/lockers become available they will be allotted as follows: a) Requests for transfers will be effected. These do not constitute new arrangements since they do not change the number of spaces or lockers available to be rented b) The resident first on the waiting list, if still eligible to rent, will be assigned the vacancy for a one year period (the maximum period allowed under the SPA). (8) Council will renew a rental arrangement on request for a one year period provided that the resident making the request is still eligible to rent, is keeping the property clean/tidy, is meeting the conditions specified in this bylaw or the arrangement and is not in arrears on his/her rent. (9) The rent to be charged for a parking space or locker shall be as set by rule. (10) Notwithstanding subsections (2) & (3) above, should a strata parking space or locker become vacant when no resident is on the waiting list, said space or locker can be rented on a month to month basis to a resident who would otherwise not be eligible. (11) Notwithstanding subsection (8) above, the owner of unit 405 (who was rented a parking space for his second vehicle before subsection (3) made him ineligible) shall have his requests for renewal approved as long as he owns two vehicles and provided he meets the other conditions for renewal specified in section (8) above. Balcony Enclosures 20. (1) No owner can be required to enclose his/her balcony, except by a resolution passed by a unanimous vote. (2) An owner intending to enclose his/her balcony must give council written notice at least two weeks before the planned work is to comment. (3) An owner may enclose the balcony of his/her suite, provided he/she first, in writing, agrees to: a) (i) conform precisely with Specifications for Balcony Enclosures (Form BALC.1) and the applicable Drawing of Balcony Enclosures (Forms BALC.2a to BALC.2e). Copies of Forms BALC.1 and BALC.2 are available from the Secretary. (ii) obtain such permits, etc. as may be required by the City of Victoria (iii) pay the full cost of the balcony enclosure, including any fees to be paid for applications, permits, etc. to the City of Victoria (iv) leave the existing glass entrance to the balcony in place.

13 Page 13 of 13 b) pay any future expenses incurred because of the balcony enclosure or for the maintenance or repair of the balcony enclosure. (4) Subsection (3)(b) above can only be changed by a resolution passed by a unanimous vote. (5) The glass areas of all enclosed balconies may be covered with blinds, but only venetian blinds in an off white or ecru colour. (6) The exterior windows of enclosed balconies shall be washed by the window washers at the same time as the regular windows of the building. (7) In the case of Suites 106 and 107, only, the stipulations of this bylaw shall apply to the small patio areas corresponding in position to the balconies of the suites above. Co Ownership Obligations Spencer Castle 21. (1) The strata council is hereby authorized to enter into a Co Ownership Agreement on such terms and conditions as it deems suitable in relation to the ownership of the strata corporation in Spencer Castle, being Lot 3, Section 4, Victoria District, Plan (2) The strata council is further authorized to appoint annually two (2) owners to sit on the management board for Spencer Castle, provided that each appointee is also a member of the strata council, and to appoint interim replacements from time to time should this be necessary. [Amended AGM, 2007] (3) The owners acknowledge and agree that they will be bound by the terms and conditions of the Co Ownership Agreement and that the annual operating budget for Spencer Castle as the common asset of the strata corporations shall be approved at the combined annual joint general meeting of the strata corporations. (4) The owners acknowledge and agree that, at such combined annual general meeting, each strata lot shall entitle the owner or owners thereof to one vote and that, provided the annual operating budget for Spencer Castle is approved by a majority of votes from all three strata corporations present in person or by proxy, the same shall be binding on all owners and such assessment shall form part of the monthly strata fees payable to the strata corporation. (5) The owners acknowledge and agree that the management board appointed pursuant to these bylaws and Co Ownership Agreement shall be responsible for the day to day management of the common asset and agree to be bound by all rules and regulations in relation to the use of such facilities which are prepared by the said board and are ratified by the strata councils of all three strata corporations. Corporate Common Seal 22. The Strata Corporation shall have a common seal, which shall at no time be used except by the authority of council previously given and in the presence of the members of the council or at least two members thereof, who shall sign every instrument to which the seal is affixed.