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7.1.F. - Page 97 <br /> and no hearing need be held for such extension. Written copies of Rules and the schedule of <br /> penalties shall be furnished to Owners. The Board shall levy fines and penalties and shall enforce <br /> such Assessments as appropriate under applicable law. <br /> G. Enforcement: The Board shall have the authority to enforce this Declaration <br /> as per Section 9.1 hereof. <br /> H. Acquisition and Disposition of Property: The Board shall have the power to <br /> acquire (by gift, purchase or otherwise), own, hold, improve, build upon, operate, maintain, convey, <br /> sell, lease, transfer, or otherwise dispose of real or personal property in connection with the affairs <br /> of the Association. Any transfer of property shall be by document signed or approved by <br /> two-thirds (2/3rds) of the total voting power of the Association which shall include two-thirds <br /> (2/3rds) of the Members other than Declarant, or where the two (2) class voting structure is still <br /> in effect, two-thirds (2/3rds) of the Members of each class of Members. <br /> I. Loans: The Board shall have the power to borrow money, and, only with <br /> the assent (by vote or written consent) of two-thirds (2/3rds) of the total voting power of the <br /> Association including two-thirds (2/3rds) of the Members other than Declarant, or where the two <br /> (2) class voting structure is still in effect, two-thirds (2/3rds) of the voting power of each class of <br /> Members, to mortgage, pledge, deed in trust, or hypothecate any or all of its real or personal <br /> property as security for money borrowed or debts incurred. <br /> J. Dedication: The Board shall have the power to dedicate all or any part of <br /> the Common Area to any public agency, authority, or utility for such purposes and subject to such <br /> conditions as may be agreed to by the Members. No such dedication shall be effective unless an <br /> instrument has been signed by two-thirds (2/3rds) of the total voting power of the Association <br /> including two-thirds (2/3rds) of the Members other than Declarant, or where the two (2) class <br /> voting structure is still in effect, two-thirds (2/3rds) of the voting power of each class of Members, <br /> agreeing to such dedication. <br /> K. Contracts: The Board shall have the power to contract for goods and/or <br /> services for the Common Area(s), for the Condominiums, or for the Association, subject to <br /> limitations set forth in the Bylaws, or elsewhere in this Declaration. The Board shall not enter into <br /> any contracts with an independent contractor until it meets the requirements of Section 8.1.A(3) <br /> herein. <br /> L. Delegation: The Board, and the officers of the Association shall have the <br /> power to delegate their authority and powers to committees, officers or employees of the <br /> Association, or to a manager employed by the Association, provided that the Board shall not <br /> delegate its responsibility: <br /> (1) to make expenditures for capital additions or improvements chargeable <br /> against the Reserve Funds; <br /> (2) to conduct hearings concerning compliance by an Owner or Occupant <br /> with the Governing Documents; <br /> (3) to make a decision to levy monetary fines, levy Reimbursement <br /> Charges, temporarily suspend an Owner's rights as a Member of the Association or otherwise <br /> impose discipline; <br /> (4) to make a decision to levy Regular Assessments or Special <br /> Assessments; or <br /> (5)to make a decision to bring suit, record a claim of lien or institute <br /> Foreclosure proceedings for default in payment of Assessments. <br /> 34 <br /> [DRAFT][05.03.14] C:\Program Files\Neevia.Com\Document Converter\temp\4056.doc <br />