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ADDENDUM TO THE RULES AND REGULATIONS ADOPTED BY

THE BOARD OF DIRECTORS

The Board of Directors hereby adopts the following regulations for each and every cooperator and resident of Amalgamated Warbasse Houses, Inc. so as to better distinguish cooperators who meet their responsibility to fellow cooperators from those who do not. Those cooperators that do meet their responsibility will be defined as a “Cooperator in Good Standing” and not only shall they have all of their rights as a cooperator, but may also be entitled to privileges that cooperators not in good standing shall not be eligible for.

A COOPERATOR IN GOOD STANDING IS DEFINED AS FOLLOWS:

       A. A cooperator, including all occupants of his or her apartment, who is not in violation of the By-Laws, not limited to illegal subletting, unauthorized structural alterations, proper submission of income affidavits, granting access for annual inspections, necessary repairs, submission of all required forms and submission of proof of required Homeowner’s Insurance.

       B. A person against who two (2) “legal proceedings” have not been commenced by the corporation to enforce the By-Laws, the Occupancy Agreement of Rules and Regulations for a period of twelve (12) months of a person against whom three (3) non-payment of carrying charge, legal proceedings have not been brought within the previous twelve (12) months.

       C. A person who is not habitually indebted to the housing company. Habitual indebtedness is defined as any cooperator who has failed to pay carrying charges for two (2) consecutive months or three (3) months in any twelve (12) month period.

       D. A person who has not received two (2) notices of violation of the rules in a twelve (12) month period and failed to cure within the time allotted.

PRIVILEGES DENIED TO COOPERATORS NOT IN GOOD STANDING:

       Cooperators and all of the members or residents of their household who are not cooperators in good standing shall be denied the following privileges:

       A. The right to lease a parking spot and if the cooperator has a lease, it shall be terminated upon the finding that the cooperator is not in good standing. Cooperator will be allowed to reapply, at the end of the waiting list, for a parking spot after he or she has reestablished good standing for a period of 12 months. If the cooperator does not currently have a parking spot and is on the waiting list, he or she shall be removed from the list and placed at the bottom of the list, after he is back in good standing.

        B. The right to rent a Community Room.

      C. The right to transfer apartments to a larger apartment, unless required by regulation. Cooperator will be removed from the waiting list and may not reapply for twelve (12) months after reestablishing good standing, at which time they will be placed at the end of the waiting list.

        D. The right to membership in the Fitness Center.

     The policy outlined above asks cooperators to meet their basic responsibilities to the cooperative and to fellow cooperators. However, because the formal statement of this policy is new, the Board is granting a limited grace period for cooperators to comply with the carrying charge obligations and to submit proof of homeowner’s insurance if they have not yet done so. The Statement will be posted and then the grace period will be sixty days. The Board will not be granting a grace period on the “legal proceedings clause” or for multiple violations of regulations.

HOMEOWNER’S INSURANCE

       It shall be the policy of this Board from this date forward that all cooperators shall be required to maintain a Homeowner’s/ Renter’s Insurance Policy covering their apartments for liability claims, at a minimum coverage of $300,000.00 and fire insurance for the contents and improvements. Proof of such insurance shall be submitted once a year with the Affidavit of Income.


Copyright © 2008 Amalgamated Warbasse Houses, Inc.