WATER STREET CONDOMINIUM ASSOCIATION Rules and Regulations

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1 Since the inception of Water Street Condominium Association on January 25, 2005, the Board of Directors has adopted many policies and procedures. The following is a summary of the policies and procedures applicable to Co-owners as updated by the Board of Directors through July 16, In addition to the policies and procedures listed herein, Co-owners are reminded to comply with all other use and occupancy restrictions as stated in the Condominium Documents, including the Master Deed and Bylaws of the Condominium. I. Buildings, Grounds and Use of Common Elements A. Commercial enterprises which generate customer traffic may not be conducted from any unit, except Unit No. 17, which is designated and intended for commercial use limited as specified in Article VI, Section 6.1 of the Condominium Bylaws, or Common Element areas without prior written approval from the Board of Directors. Examples would include garage sales and auctions. B. Requests for all outdoor planting must be submitted in writing using the Request for Alteration to Unit form for approval by the Board prior to planting. C. Any damage to General or Limited Common Elements caused by Co-owners or their guests shall not be the responsibility of the Association. All such damages shall be repaired solely at the expense of the Co-owner and within a time frame deemed to be reasonable by the Board of Directors and communicated in writing to the responsible Co-owner. If satisfactory repairs are not made within the specified time, all repair work will be completed upon authorization by the Board of Directors and the Co-owner will be assessed accordingly. Normal wear and tear on General Common Elements is covered by the Association at the discretion of the Board of Directors. D. Modifications to Limited Common Elements may not be made without prior written approval from the Board of Directors. Co-owners wishing to propose modifications should contact the appropriate Association representative for specific details and complete the Request for Alternation to Unit form prior to beginning any work. E. Except in emergencies, all requests for maintenance must be made in writing directly to the Association s designated management agent or its Board of Directors. Forms may be obtained by either contacting the appropriate Association representative or by contacting a Board Member directly. 1

2 F. Co-owners trash disposal shall be through the use of Association provided dumpsters only. All garbage generated by Co-owners shall be bagged in plastic trash bags and placed in the trash dumpsters for pickup by the Association s trash disposal service. Accumulated garbage shall be kept inside of a Unit garage until the Co-owner places said garbage in the dumpster for pickup. No bagged garbage, trash cans, or similar receptacles are to be left outside of a Unit or outside of the Unit s garage or in the common areas of the condominium, with the exception of recyclables which may be placed outside the Co-owner s unit the night before scheduled pickup. G. The feeding and attraction of wild animals by Co-owners into Common (or Limited Common) Element areas (including all grounds surrounding the Condominium buildings) is prohibited. A single bird feeder will be permitted on the limited common elements appurtenant to each unit, provided the responsible Co-owner keeps the area beneath the bird feeder clear of seed or other food likely to attract wild animals and provided the seed or other food does not drop and/or spread to other Co-owner s units or limited common elements. Failure to comply with this regulation may result in the Co-owner being assessed for the cost to repair damage to the Common Elements caused by any wild animals attracted, or for the expense incurred by the Association in cleaning up any unsightly areas. II. Vehicles and Parking A. There are no parking areas reserved for particular unit numbers, except for one regular and one barrier-free parking spaces that are designated as Limited Common Elements appurtenant to Unit 17 on the Condominium Subdivision Plan, which shall be reserved for the exclusive use of the Co-owner of Unit 17, which is the Unit designated for commercial use. The Association has installed RESERVED parking signs for the two spaces that are allocated to Unit #17. These spaces are reserved on a 24/7/365 basis. B. With regard to the three remaining spaces in the common area designated by painted lines, the following rules will apply: 1. Parking of non-commercial vehicles will be permitted on a first come, first served basis at any time for Co-Owners and their guests only. 2. Temporary daytime parking of commercial vehicles is permitted only while a workman or utility is accessing a unit to make repairs or otherwise provide services to the unit s Co-owner. 3. Tenants (renters) and their guests may not use the common area parking spaces. 2

3 C. No one may park in a way that blocks a unit s garage or otherwise in any way impedes the ability of Co-owners and/or emergency vehicles to access any unit. It is essential that at all times emergency vehicles and other Co-owners vehicles are able to travel uninhibited throughout the complex D. Further restrictions regarding what vehicles may be parked or stored on or in the Condominium are found in the Condominium Bylaws. E. Failure to abide by these rules will result in a warning for the first infraction; however, if the situation is not timely remedied, the Association will impose a $50/day penalty for any failure to comply with these rules thereafter. III. Pets A. Co-owners must register their pet with the Association. Registration of newly acquired pets must occur within seven (7) calendar days of obtaining the pet. Registration forms may be obtained by contacting the appropriate Association representative or a member of the Board of Directors directly. The following information is required: a. Co-owner or prospective Co-owner s name and contact information b. Photo of pet c. Pet s name d. Pet s birth date or approximate age e. Approximate current weight of pet and projected weight of pet at maturity (if different from current weight) f. Proof of immunization that is verified by a certified veterinarian g. If the pet is a cat, whether it is an indoor cat or an indoor/outdoor cat. B. There shall be no more than one cat or one dog allowed per Unit without the prior written consent of the Association, which consent, if given, shall be revocable at any time by the Association. No exotic, savage or dangerous animals shall be kept, and no animals shall be kept or bred for commercial purposes. Common household pets permitted under these rules shall be kept under such Rules adopted by the Board from time to time, and must at all times be kept under such care and restraint as not to be obnoxious on account of noise, odor, or unsanitary conditions. No animal shall be permitted to run loose on the limited or general common elements, and the Co-owner of each pet shall be responsible for cleaning up after it and complying with City of Petoskey pet related ordinances. C. Written consent from the Association permitting a second pet in a specific Unit must be requested in advance and in writing (either paper or electronic), by providing all of the information noted in IIIA above. 3

4 . The Association will respond to the request, in writing, within 10 business days. Such approval for a second pet is specific to the pet named in the request and does not extend to any future/other pet of the Unit s Co-owner. Under no circumstances will more than two registered pets be approved or permitted to reside in any Unit. D. Only pets of Co-owners which are registered with the Association are permitted; guests and renters may not have pets on the premises. E. The penalty for noncompliance will be legal action taken against the Co-owner to remove the pet from the Water Street Condominium premises. In addition, failure to abide by these rules will result in an initial warning; however, if the situation is not immediately remedied, the Association will impose a $50/day penalty for any failure to comply with these rules. IV. Noise A. City of Petoskey noise ordinances apply to all Co-owners within Water Street Condominiums. In general, we must consider any noise that a neighbor objects to as excessive. All are urged to be considerate of both our neighbors rights to a relatively noise-free environment and our neighbors rights to enjoy activities which on occasion may be heard by others. B. The proper procedure in the event of too much noise is for the offended party to politely request the offending party to adjust the noise level. C. If the above-mentioned preliminary procedure does not correct the situation, the Petoskey Police Department should be notified accordingly. D. Any instance in which the Petoskey Police have been notified for a noise offense also should be reported to the Board of Directors in a timely manner so that further follow up may take place. E. Fireworks are prohibited within the Water Street Condominiums. 4

5 V. Miscellaneous Policies A. Rental Policy a. No unit shall be rented or leased for less than one (1) month and without written consent from the Association. Specific details may be obtained from a member of the Board of Directors. b. A Co-owner must register with the Board the agreement he or she has with the renter. The agreement should include the name(s) of the renter(s) and the number of people living in the unit and clearly state that pets are strictly prohibited and may not be brought on to the premises. Co-owners are reminded that provisions of these and the Condominium Bylaws, including, but not limited to, occupancy restrictions limiting occupancy to two (2) persons per each bedroom in a Unit, apply to any tenants renting a Unit from a Coowner. c. The Co-owner retains full responsibility for paying the Association dues and compliance with all of the established Bylaws and policies. The Co-owner must provide a copy of the Bylaws and these to the renter. d. The Co-owner shall be responsible for providing the Board of Directors with his or her current address and telephone number. e. If the information regarding a renter is not in the Board s hands within ten (10) days after the renter takes occupancy, a fine in the amount of $50.00 may be levied against the Co-owner. A $50.00 fine per month may be levied for any subsequent noncompliance with the rental notification policy. B. Association Dues. Association dues are payable the first day of each quarter. Checks should be made payable to and should be sent to the Water Street Condominium Association or its designated agent at such location as determined by the Board. C. Late Charges Concerning Quarterly Association Dues. 1. Late charges are assessed when dues are delinquent. Quarterly Association dues are due on the first of each calendar quarter, and a $50.00 late charge will be assessed against each Co-owner/unit whose quarterly dues payment is not received by the fifth (5 th ) day of the calendar quarter (i.e., January 5, April 5, July 5, October 5). An additional $50.00 late charge will be assessed against the Co-owner/unit on the first (1 st ) day of every month after that for each unpaid dues payment until the delinquent dues are paid. 2. If a quarterly dues payment or other Co-owner assessment is not paid within fortyfive (45) days after its due date, the Association will place a lien on the unit and may pursue foreclosure of the unit as provided in the Condominium Bylaws. D. Returned Checks. Co-owners will be assessed a $50.00 charge for any returned insufficient funds checks. 5

6 E. Noncompliance of Policies. Some policies have specific fines outlined within them. In most other instances we expect that a friendly reminder will be sufficient to correct the problem. However, if necessary, a written communication will be sent to the Co-owner outlining the policy violation and corrective action expected, as well as notification of a $50.00 fine payable by 5:00pm the following business day to the Water Street Condominium Association. A $50.00 per day charge will continue, also payable by 5:00 pm the following business day, until the violation has been resolved. F. Outdoor Displays/Property Rules. In the interest of maintain a pleasing appearance to the buildings and taking into account potential hazards: 1. Each unit may display a single flag of a size not greater than 3x5 feet anywhere on the exterior of the Unit; however such flag (other than a United States flag) may not be displayed from November 1 to May 1 each year. 2. Each unit may hang one set of wind chimes; however, such wind chimes must be removed from November 1 to May 1 each year. 3. Each unit is required to remove all furniture from front door entrances and second and third floor decks from November 1 to May 1 each year. 4. Each unit may not have grills (or engage in any other form of outside cooking) at the front door entrance or on the second or third floor decks. 5. Holiday decorations are permitted as follows: a. Christmas holiday decorations are permitted from Thanksgiving to the following January 15. b. Federal holiday decorations are permitted seven (7) calendar days before and after the actual date the federal holiday is celebrated. A Co-owner will be assessed a $50.00 per day charge for any failure to comply with the rules of this sub-section F. Effective July 16,