PROJ00018

• Contract/PO #: C150010
• Contractor Name: Columbine Ranches POA
• Contract Type: Loan
• County: Adams
• Bill Number: SB 99-173
• Loan Projects - Doc Type: Feasibility Study

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BYLAWS OF COLUMBINE R\NCIIES PROPERTY OWNERS ASSOClUION

ARTICLE I
OBJECTS AND PURPOSES

Section I. The objects and'purposes of this Association shall be to promote the health,
safety and welfare of the persons residing in the Columbine Ranches Subdivision in the County of
Adams, State of Colorado, more particularly described as:

Columbine Ranches Subdivision, a subdivision of a part of
Section 5, Township 2 South, Range 66 West, of the 6th P.M"
Adams County, State of Colorado, according to the recorded plat thereof;

and such additions thereto as may hereafter be brought within the jurisdiction of this Association

by annexation. The mere acquisition, rental or occupancy of any Lot, or any portion thereof, shall

signifY that all terms and provisions of the Declaration of Covenants, Articles ofIncorporation and

these Bylaws are accepted, ratified and shalllJe complied with.

AR'fICLE IT
MEl\-IBERSHIP

Section J, Each Q\\ller of a Lot in Columbine Ranches Subdivision shall be a Member
of the Association. Each Lot shall have one vote regardless of the number of Owners of each Lot.
(Anyone of the Owners of any Lot may cast the vote for such Lot),

Section 2. No Member shall, by virtue of this membership, acquire any property rights
or any present or existing rights in and to the property which this Association may now have or
hereafter acquire.

Section 3, No member of this Association shall receive any money or other thing of
value because of any services rendered or to be rendered to the Association as a Member, Officer
or Director.

Section 4. The Association shall indemnifY every Director, Officer, agent and employee,
and any former Director, Officer, agent and employee, against all loss, costs and expenses, including
attorney's fees, reasonably incurred in connection with any action, suit or proceeding to which such
person may be made a party by reason of being or having been such a Director, Officer, agent or
employee of the Association, except for matters in which such person shall be finally adjudged to
be liable for gross negligence or fraud. Any suc/l indemnity shall be limited to and may only be paid
out of the insurance proceeds provided by an insurer furnishing Officers and Directors errors and
omissions insurance coverage and any other insurance protecting the Association from liability

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Amended 11/97