WQ0000224_Application_20210806

State of Nor-th Carolina
Department of Euvit-onmental Quality
Division of Water Resoui-ces,
15A NCAC 02T.0700 — HIGH -RATE INFILTRATION SYSTEM — RENEWAL
FORM: HRIS-R 02-21
Pursuant to 15A NCAC 02TAMI(D) application does not include all required information and the necessary supporting
.L , if time
documentation, the application shall be returned. The application and attachments shall be prepared in accordance Nvith 15A
NCA(." 021" .,0100, 15A NC'AC 021' .,0700, and Division Policies. For more information, visit the Water Quality Permitting
Section's Non -Discharge Branch Nvebsite. The Applicant shall submit all electronic copy of the application and attachments
uploaded as a single Portable Document Format (PDF) file to h1t j_
Forum -Veit, or ernailed to jj if less than 20 megabytes (MB).
SECTIO)X'I
-7-
APPLICANT INFORMATION,
1. Applicant: Point Emerald Villas Association, Inc
1 Permit No.: WQ00224
3. Signature authority: Crystal Walters
Title: Association Manager.
Phone number: [phone] Office
Email: [e-mail]
4. Mailing address: P.O. Box 4455
City: Emerald Isle
State: NC Zip: 28594-
,5. Contact person: Crystal Walters
Email: crystal at
,ccnic-nc.corn
Primary phone number: [phone] Office
Secondary phone number: [phone] Cell
1. Physical address: 10300 Coast Guard Road
City; Emerald Isle
2. Treatment facility coordinates to the sixth decimal degree:
Latitude: 34.650842' Longitude: -77.8819'
County: Carteret Parcel No.: 537314436540000
State: NC Zip, 28594-
Method: Map interpretation by extraction
7 ------ ---- I ------------- - -- 7---
SECTION Ill — FLOW INFORMATION'
L
2.
Perill itted flow: 52950 GPD (The marl m uni allowableoiv based on i Mat has been per initteci
As -built flow: 52950 GPI (The inaxinjum allon,ableflow based on what has been construcfeO
3.
Average flow: 4360 GPI) (The average of all rej)oiledflowy on the previous calendaryear's NDMR.v)
4.
Hydraulic capacity: 8 % (Divide the average flora in Item 3 by the As-builtflow in Item 2)
5.
Wastewater composition: Domestic : 100 % Industrial: % Stormwater: %
1-1-1- — . . .. .........
1. Billing address: PO Box 4455
City: Emerald Isle State: NC Zip: 28594-
2. Verify time Applicant does not have any overdue annual fees:
Pursuant to 15A NCAC, 021' .0 ), permits for renewing facilities shall not be granted if the Applicant or ally affiliation has
all unpaid annual fee.
FORM: HRIS-R 02-21 Page I of 6

1. ORC: Robert C Howard Grade: WW III Certification No.: 996013
Mailing address: PO Box 4188
City: Emerald Isle State: NC Lip: 28594-
Phone number: [phone] Cell Email:
2. Back -Up ORC. Daniel Fortin Grade: W W II Certification No.: 7180
Mailing address: PO Box 4188
City: Emerald Isle State: NC Lip: 28594-
Phone number: [phone] Office Email: fort in. [e-mail]
1. List all open -atmosphere treatment and storage structures associated with the renewing permit. Attach additional streets if
necessary.
Type Parcel No. Volume (gal) Liner Type Freeboard (ft) Latitude Longitude
Select Select
Select Select
Select Select
Select Select
1. List all wastewater permits (i.e., sewer, collection system, NPDES, residuals) that have interactions with the renewing permit.
Attach additional sheets if necessary.
Permit Type Permit No. Relationship Type
Select Select
Select Select
Select Select
Select Select
1. List all groundwater monitoring wells associated with the renewing permit. Attach additional sheets if necessary.
Well Name
Parcel No.
Status
Gradient
Location
Latitude
Longitude
MW-I
Active
Select
Select
- °
MWA
Active
Select
Select
MW-5
Active
Upgradient
Select
Select
Select
Select
Select
Select
Select
Select
Select
Select
°
Select
Select
Select
°
Select
Select
Select
Select
Select
Select
Select
Select
Select
Select
Select
Select
FORM: HRIS-R 02-21 Page 2 of 6

SECTION IX -INFILTRATION SYTRS .'
I . List all infiltration sites associated with the renewing permit. Attach additional sheets if necessary.
Site
County
Parcel No.
Deeded Owner
Area
Cover Crop
Latitude
Longitude
Rotary
Carteret
Point Emerald Villas
Field
Association, Inc.
0.08
34.6505590
-77.886780
Subsurface
Carteret
Point Emerald Villas
.10
Field
Association, Inc.
34 6511840
-77 888310
0
0
0
0
0
0
0
0
0
a
0
0
0
0
0
0
0
0
0
0
0
0
0
0
o
p
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
FORM: HRIS-R 02-21 Page 3 of 6

Total Acreage:
Was the facility originally permitted or had a major modification issued after September 1, 2006?
[j Yes — Pursuant to 15A NCAC 012 T _,01,05(d), submit a site map pursuant to the requirements in 15A NQAQ ()2T .07Q+(d). These
requirements are:
El A scaled map of the site with topographic contour intervals not exceeding 10 feet or 25 percent of total site relief arid showing
all facility -related structures and ferices, within the wastewater treatment, storage, and infiltration areas.
171 Soil mapping units shown on all infiltration sites,
El The location of all wells (including usage and construction details if available), streams (ephemeral, intermittent, and
perennial), springs, lakes, ponds, and other surface drainage features within 500 feet of all wastewater treatment, storage,
and infiltration sites.
F1 Delineation of the compliance and review boundaries per.] 5A NCAC 02L 0 107 and 0108.
F1 Setbacks as required by 15A NCAQ 02T,0706,
El Site property boundaries within 500 feet of all wastewater treatment, storage, and infiltration sites,
Ell All habitable residences or places of public assembly within 500 feet of all treatment, storage, and infiltration sites.
No -- Skip Attachment A.
Does the signature authority in Section 1, Item 3 meet the reqUiNITIC111tS pursuant to 15A NQAC 02T ,0 1016LLIJ?
Yes - Skip Attachment B.
No — Submit a d tgg� pursuant to 1, 5�A NQAQ 02T.QL(K)(c) authorizing the signature authority to sign,
'L . . .......... -.--
Does the existing permit include an approved flow reduction?
F-1 Yes — Submit a copy of the flow reduction approval letter, as well as the measured monthly average amount of wastewater flow
contributed per unit for the 12 months prior to permit renewal. If any of these monthly averages are within 20% of the approved
flow reduction value, the Permittee shall provide a reevaluation of the reduced flow value pursuant to the requirements in 15A
NC AC
No — Skip Attachment C.
Is the Applicant a Privately -Owned Public Utility?
Yes - Pursuant to 15A NCAQ.021.0 I submit the Certificate Of Public Convenience and Necessity frorn the North
­"­__­ ­­­ -- ----- t—sl
. ..........
Carofina Utilitic.s,.Com.i.i.j.i.ij.s.siofi. demonstrating the Applicant is authorized to hold the utility franchise.
No — Skip Attachment D.
Is the Applicant a Home/Property Owners' Association or Developer of Lots to be Sold?
Yes (Home/Property Owners' Association) — Pursuant to 15A NCAC. 02T.0 1 15(a)(2), submit an executed -9 eE�itioiLL r ement
ffll _l10 ),. Pursuant to 15. A NC AQ Q2�'FQ I 1�5c , if the applicant is a legally formed Homeowners' or Owne
r's
er's
Association, submit a copy of the Articles of Incorporation, Declarations, and By-laws.
Yes (Developer of Lots to be Sold) — Pursuant to .1 5_A­_N_QAC 02T .0 115( )(2), submit an executed Qpe,Lgional _Agj�eemqq
LFQRM:.. ..... ....... Y). Pursuant02T to 15A NCAQ .01 1.5�(h), if the applicant is a developer of lots to be sold, submit a copy of the
.QE.
Articles of Incorporation, Declarations, arid By-laws,
No — Skip Attachment E.
FORM: HRIS-R 02-21 Page 4 of 6

. .......... .
ATTActim-ri,NT F — DE MONSTRATION OF FUTURE WASTEWATERTREATMENT CAl"AUTIE,✓S
Is the applicant a InUniCipality, CO1111ty, sanitary district, or public utility?
❑ Yes .- Proceed to the next question.
No — Skip Attachment F.
Does the hydratific capacity in Section 111, Item 4 exceed 70%?
❑ Yes (the hydraulic capacity is greater than 70%, bout less than 80%) — PUNC' rSUant to 15A A(02
— -,.''j_. —,.,,0
_.i-W), prior to exceeding
80 percent of the system's permitted hydraulic capacity (based on the average flow during the last calendar year), the perrilittee
shall submit an engineering evaluation Of their fixture wastewater treatment, utilization, and disposal needs. `This evaluation shall
OUtfinC plans tor meeting future wastewater treatment, utilization, or disposal needs by either expansion of the existing system,
elimination or reduction of extraneous flows, or water conservation and shall include the source of ftinding for the improvements.
If expansion is not proposed or is proposed for a later (late, ajUstification shall be made that wastewater treatment needs will be
ruct based on past growth records and fixture growth projections, and as appropriate, shall include conservation plans or other
measures to achieve waste flow reductions.
EJ Yes (the hydraulic capacity greater than 80%) — Proceed to tile next question.
Z No — Skip Attachment F.
If answered Yes above, does the hydraulic capacity in Section III, Item 4 exceed 80%?
F] Yes (the hydraulic capacity is greater than 80%) — Pursuant to 15 N( (.'AC 02T. .0 118 2 , prior to exceeding 90 percent of tile
... . . .. ...................... - � � . . .. ........ ... _n
systern's permitted hydraulic capacity (based on the average flow during the last calendar year), the permittee shall obtain all
permits needed for the expansion of the wastewater treatment, utilization, or disposal system and, if construction is needed,
submit final plans and specifications for expansion, including a construction schedule. If expansion is not proposed or is proposed
for- a later date, ajustification shall be made that wastewater treatment needs will be met based on past growth records and future
growth projections, and as appropriate, shall include conservation plans or other specific measures to achieve waste flow
reductions,
El No — Skip Attachment F.
Does the Permittee own all of the land associated with the wastewater collection, treatment, conveyance, infiltration, and groundwater
lowering (if applicable) system?
Yes — Skip Attachment G.
❑ No --- Pursuant to 15A NC ' A - C 012T .01 16(c), provide a copy of all easements, lease agreements, and encroachment agreements
allowing the Pemiiftee to operate and maintain the wastewater collection, treatment, conveyance, infiltration, and groundwater
lowering (if applicable) systern on property not owned by the Permittee.
Are the Permittee's affiliations of record correct? Check affiliations,
Yes --- Skip Attachment 1-1.
E] No — Provide the corrected affiliations and their contact information.
Does the existing permit include any Compliance Schedules? (See Section I of the most recently issued permit)
El Yes — Submit documentation that the compliance scliedules, have been nict.
9 No — Skip Attachment I.
Does the Permittee have any existing civil penalties or outstanding violations?
[:1 Yes (civil penalties) — Submit payment for the civil penalty, or proof of remission request.
F] Yes (violations) — Submit a copy of your response to the Notice of Violation.
0 No — Skip Attachment J.
FORM: HRIS-R 02-21 Page 5 of 6

Does the wastewater composition in Section 111, Item 5 include any industrial wastewater?
Yes --- Proceed to the next question.
No -- Skip Attachment K,
Has the mature of the industrial wastewater changed since the last permit issuance (i.e., changes in industrial process, introduction of
new materials or chemicals„ etc.)?
Yes — Provide a chemical analysis of the wastewater pursuant to the requirements in 15A NQAC 021.07011). Provide all
overview of the manufacturing process; all inventory of all chemical and biological materials used in the manufacturing process;
and all overview of the cleaning and treatment methodology.
© No --- Provide an overview of the manufacturing process; all inventory of all chemical and biological materials used in the
manufacturing process; and an overview of tine cleaning and treatment methodology.
Does the existing permit include setback waivers?
El Yes - Pursuant to 1.5A NCAC"-_ 1 _mt 70, j), provide setbacks waivers that have been written, notarized, signed by all parties
involved, and recorded with the county Register of Deeds. Waivers involving tine compliance boundary sliall be in accordance
with 15A NC, C; ON 0107.
Ej No — Skip Attachment L.
that this application
(Signature authority's name as noted in Section 1, Item 3)
has been reviewed by me and is accurate and complete to the best of nuy knowledge. I understand that if all required parts of this
application package are not completed, and that if all rewired supporting information and attachments are not included, this
application package will be returned as incomplete. I fin-ther certify pursuant to 15A NCa_ C 02.1... 012-Qfb),, that the applicant„ or any
parent, subsidiary„ or other affiliate of the applicant has: not been convicted of environmental crimes under; not previously abandoned
a wastewater treatment facility without properly closing the facility; not paid a civil penalty; not been compliant with any compliance
schedule in a permit, settlement agreement, or order; not paid an annual fee.
Note: The Applicant's Certification shall be signed pursuant to 15A NC.AC 0211 ,Q ii 6(j,)i, An ahernate person may be delegated as
the signing official if a letter is provided pursuant to 15A NC;AC 02I" .t11,(7Ct��.) Pursuant to § I Qf 2 i �.0and § 1 12-21 i,�il3, any
person who knowingly snakes any false statement, representation, or certification in any application package shall be guilty of a Class
2 misdemeanor, which may include a fine not to exceed 10,000 as well as civil penalties up to $25,000 per violation,
Signature: �✓` Date: I'A'gal
THE COMPLETED APPLICATION AND ATTACHMENTS SIIALL BE SUBMITTED AS A SINGLE PDI' FILE VIA:
Email:
$man_Disuharpe, 1etn�rarts(-djncrlernr,
Laserfiche Upload:
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Subm ittal-Form-'V'er2
DORM: HMS-R 02-21 Page 6 of 6

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STATE OF NORTH CAROLINA
COUNTY OF Select Permit No. _WQ0000224 -
OPERATIONAL, AGREEMENT
This AGREEMENT made pursuant to G.S. 143-215.1 (d1) and entered into this tip day of
August 2021 , by and between the North Carolina Environmental Management
Commission, an agency of the State of North Carolina, hereinafter known as the COMMISSION; and
Paint Emerald Villas Association lnc. , a non-profit corporation organized
and existing under and by virtue of the laws of the State of North Carolina, hereinafter known as the
ASSOCIATION.
WITNESSETH:
1. The ASSOCIATION was formed for the purpose, among others, of handling the property, affairs and
business of the development known as Point Emerald Villas
(hereinafter the Development); of operating, maintaining, re -constructing and repairing the conunon
elements of the lands and improvements subject to unit ownership, including the wastewater collection
system with pumps, wastewater treatment works, and/or disposal facilities (hereinafter Disposal System);
and of collecting dues and assessment to provide fiends for such operation, maintenance, re -construction
and repair.
2. The ASSOCIATION desires, to construct and/or operate a Disposal System to provide sanitary sewage
disposal to serve the Development on said lands.
3. The ASSOCIATION has applied to the COMMISSION for the issuance of a permit pursuant to G.S. 143-
215.1 to construct, maintain, and/or operate the Disposal System.
4. The Development was created subject to unit ownership in the dwellings units, other improvements and
lands through filing of a Declaration of Unit Ownership (hereinafter Declaration), pursuant to Chapter
47C of the North Carolina General Statutes.
5. The COMMISSION desires to assure that the Disposal System of the Development is properly
constructed, maintained and operated in accordance with law and permit provisions in order to protect the
quality of the waters of the State and the public interest therein.
NOW, THEREFORE, in consideration of the promises and the benefits to be derived by each of the parties
hereto, the COMMISSION and ASSOCIATION do hereby mutually agree as follows:
The ASSOCIATION shall construct the Disposal System and/or stake any additions or modifications to
the Disposal System in accordance with the permit and plans and specifications hereafter issued and
approved by the COMMISSION, and shall thereafter properly operate and maintain such systems and
facilities in accordance with applicable permit provisions and law.
2. The ASSOCIATION shall provide in the Declaration and Association Bylaws that the Disposal System
and appurtenances thereto are part of the common elements and shall thereafter be properly maintained
and operated in conformity with law and the provisions of the permit for construction, operation, repair,
and maintenance of the system and facilities. The Declaration and Bylaws shall identify the entire
wastewater treatment, collection and disposal system as a common element, which will receive the highest
priority for expenditures by the Association except for Federal, State, and local taxes and insurance.
FORM: HOA 01-20 Page I ot'2

3. The ASSOCIATION shall provide in the Declaration and Association Bylaws that the Disposal System
will be maintained out of the coninion expenses. In order to assure that there shall be fiends readily
available to repair, maintain, or construct the Disposal System beyond the routine operation and
maintenance expenses, the Declaration and Association Bylaws shall provide that a fiend be created out of
the common expenses. Such fund shall be separate from the routine maintenance fund allocated for the
facility and shall be part of the yearly budget.
4. Irr the event the common expense allocation and separate fund(s) are not adequate for the construction,
repair, and maintenance of the Disposal System, the Declaration and Association Bylaws shall provide for
Special assessments to cover such necessary costs. There shall be no limit on the amount of such
assessments, and the Declaration and Bylaws shall be provided such that special assessments can be made
as necessary at any time.
5. If a wastewater collection system and wastewater treatment and/or disposal facility provided by any city,
town, village, county, water and sewer authorities, or other unit of government shall hereinafter become
available to serve the Development, the ASSOCIATION shall take such action as is necessary to cause the
existing and future wastewater of the Development to be accepted and discharged into said governmental
system, and shall convey or transfer as much of the Disposal System and such necessary easements as the
governmental unit may require as condition of accepting the Development's wastewater.
6. Recognizing that it would be contrary to the public interest and to the public health, safety and welfare for
the ASSOCIATION to enter- into voluntary dissolution without having made adequate provision for the
continued proper maintenance, repair and operation of its Disposal System, the ASSOCIATION shall
provide in the ASSOCIATION Bylaws that the ASSOCIATION shall not enter into voluntary dissolution
without first having transferred its said system and facilities to some person, corporation or other entity
acceptable to and approved by the COMMISSION by the issuance of a permit.
7. The ASSOCIATION shall not transfer, convey, assign or otherwise relinquish or release its responsibility
for the operation and maintenance of its Disposal System until a permit has been reissued to the
ASSOCIATION's successor.
The agreements set forth in numbered paragraphs 1, 2, 3, 4, S, 6, and 7 above shall he conditions of any
permit issued by the COMMISSION to the ASSOCIATION fin' the construction, maintenance, repair and
operation of the Disposal System.
9. A copy of this agreement shall be filed at the Register of Deeds in the County(ies) where the Declaration
is filed and in the offices of the Secretary of State ol'North Carolina with the Articles of Incorporation of
the Association.
IN WITNESS WHEREOF, this agreement was executed in duplicate originals by the duly authorized
representative of the parties hereto oil the day and year written as indicated by each of the parties named below:
FOR THE ENVIRONMENTAL
MANAGEMENT COMMISSION
S. Daniel Smith, Director
Division of Water Resources
(Date)
FORM: IJOA 01-20
Point Emerald Villas Asociation Inc
YN,an)eASSOCIATION
lrJ. �—
( ignature}
_Glenn W. Relrber, *er President
Print Name and Title
8/S/21
(Date)
Page 2 of 2

Articles of Incorporation
of
Point Emerald Villas Association, Inc.
In compliance with the requirements of Chapter 55A of the North Carolina General Statutes entitled "Nonprofit
Corporation Act," and the several. amendments thereto, the undersigned, natural person of full age, has this day executed
..se Articles of Incorporation for the purpose of forming a non-profit corporation and hereby certifies:
ARTICLE I
The name of the corporation is Point Emerald Villas Association, Inc., {hereinafter called "the Corporation" or
"Association").
ARTICLE II
The registered office of the Corporation is located at 1001 College Court, New Bern, Craven County, North Carolina
28560,
ARTICLE III
W. Daniel Martin, III, whose address is 1001 College Court, New Berry, Craven County, North Carolina 28560, Is
hereby appointed the initial Registered Agent of the Corporation.
ARTICLE IV
The Corporation does not contemplate pecuniary gain or profit to the members thereof and no part of the Corporation's
net income shall Inure to the benefit of any of its officers, directors or members or any other private Indidvidual. The
purposes and objects of the corporation shall be to administer the operation and managment of Point Emerald Villas
Condominium (hereinafter called "the Condominium"). a series of condominiums to be established in phases'in accordance
with the laws of the State of North Carolina upon the property situate, lying and being In White Oak Township, Carteret
County, North Carolina, and more particularly described in Exhibit "A" of the formal Declaration of Unit Ownership which will
be recorded In the Public Records of Carteret County, North Carolina, said Exhibit and Declaration of Unit Ownership being
incorporated herein by reference; to undertake the performance of the acts and duties incident to the administration of the
operation and management of said Condominium in accordance with the terms, provisions, conditions and authorization
contained in these Articles of Incorporation and the Declaration of Unit Ownership and each subsequent amendment thereto
at the time said property, and the improvements now or hereafter situate thereon, are submitted to the plan of condominium
ownership; and to own, operate, lease, sell, trade and otherwise deal with such property, whether real or personal, as may
be Necessary or convenient in the administration of said Condominium.
ARTICLE V
The Corporation shall have the following powers:
1 _ The Corporation shall have all of the powers and privileges granted to Non -Profit Corporations under the
law pursuant to which this Corporation is chartered, and all of the powers and privileges which may be granted unto said
Corporation under any other applicable laws of the State of North Carolina, including the Unit Ownership Act.
2. The Corporation shall have all the powers reasonably necessary to implement and effectuate the
purposes of the Corporation, including, but not limited to, the following:
(a) To matte and establish reasonable rules and regulations governing the use of the condominium units and
common areas in the Condominium as said terms may be defined in said Declaration of Unit Ownership to be recorded.
(b) To levy and collect assessments against members of the Corporation to defray the common expenses
of the Condominium as may be provided in said Declaration of Unit Ownership and in the Bylaws of this Corporation which
may be hereafter adopted, including the right to levy and collect assessments for the purposes of acquiring, operating,
leasing, managing and otherwise trading and dealing with such property, whether real or personal, including condominium
units in the Condominium, which may be necessary or convenient in the operation and management of the Condominium
and in accomplishing the purposes set forth In said Declaration of Unit Ownership.
(c) To maintain, repair, replace, operate and manage the Condominium and the property comprising same,
including the right to reconstruct improvements after casualty and to make further improvement of the Comdominium
property, and to make and enter into any and all contracts necessary or desirable to accomplish said purposes.
(d) To contract for the management of the Condominium and to delegate to such management firm all of
that powers and duties of the Association except those which may be required by the Declaration of Unit Ownership to have
approval of the Board of Directors or membership of the Corporation.
(e) To acquire ad enter into, now or at any time hereafter, leases and agreements whereby he Association
acquires leaseholds, memberships, and other possessory or use interests in land or facilities including, but not limited to,
swimming pools, tennis courts, and other recreation facilities, whether or not contiguous to the lands of the Condominium, to
provide enjoyment, recreation or other use or benefit to the owners of condominium units.
(f) To enforce the provisions of the Declaration of Unit Ownership, these Articles of Incorporation, the
Bylaws of the Corporation which may be hereafter adopted, and the rules and regulations governing the use of the
ondominium as the same may be hereafter established.
(g) To exercise, undertake and accomplish all of the rights, duties and obligations which may be granted to
or imposed upon the Corporation pursuant to the Declaration of Unit Ownership aforementioned.
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ARTICLE VI
The qualification of the members, the manner of their admission to membership and termination of such membership,
and voting by members shall be as follows,
1. The Owners of all condominium units in the Condominium shall be members of the Corporation, and no other
person or entities shall be entitled to membership, except as provided in Item 5 of this Article Vl.
2. Membership shall be established by the acquisition of fee title to a condominium unit in the Comdominium, or
by acquisition of a fee ownership interest therein whether by conveyance, devise, judicial decree or otherwise, and the
membership of any party shall be automatically terminated upon his being divested of all title to or his entire fee ownership
interest in any condominium unit, except that nothing herein contained shall be construed as terminating the membership of
any party who may own two or more condominium units or who may own a fee ownership Interest In two or more condominium
units so long as such party shall retain title to own a fee ownership interest in any condominium unit.
3. The interest of a member in the funds and assets of the Corporation cannot be assigned, hypothecated or
transferred In any manner except as an appurtenance to his condominium unit. The funds and assets of the Corporation shall
belong solely to the Corporation subject to the limitation that the same be expended, held or used for the benefit of the
membership and for purposes authorized herein, in the Declaration of Unit Ownership and in the Bylaws which maybe
hereafter adopted.
4. On all matters which the membership shall be entitled to vote, each condominium unit shall have a vote equal
to irs appurtenant undivided interest in the common area as set forth in Article V of the Declaration of Unit Ownership. The
vote of each unit may be. cast or exercised by the Owner or Owners of each condominium unit in such manner as may be
provided in the Bylaws hereafter adopted by the Corporation. Should any member own more than one condominium unit, such
member shall be entitled to exercise or cast the votes associated with each condominium unit owned in the manner provided
by said Bylaws.
5. Until such time as the property constituting Point Emerald Villas Condominium, Phase 1, and the
improvements constructed thereon, are submitted to a plan of condominium ownership by the recordation of the Declaration of
Unit ownership for Phase 1, the membership of the Corporation shall be comprised of three (3) individuals named in Article XI
hereof as the initial Board of Directors of the Corporation, and each such individual shall be entitled to cast one vote on all
matters on which the membership shall be entitled to vote.
ARTICLE VII
The Corporation shall have perpetual existence,
ARTICLE Vill
The affairs of the Corporation shall be managed by the President of the Corporation, assisted by the Vice
Adent, Secretary, and Treasurer, subject to the directions of the Board of Directors. The Board of Directors, or the
i . sident with the approval of the Board of Directors, may employ a managment firm and/or such other managerial and
supervisory personnel or entities to administer or assist in the administration of the operation and management of the
Condominium, and the affairs of the Corporation, and any such person or entity may be so employed without regard to whetter
such person or entity is a member of the Corporation or a Director or Officer of the Corporation, as the case may be.
ARTICLE IX
The number of members of the first Board of Directors of the Corporation shall be three (3). The number of
members of succeeding Boards of Directors shall be as provided from time to time by the Bylaws of the Corporation. The
number of Board of Directors shall be elected by the members as provided by the Bylaws of the Corporation at the Annual
Meeting of the membership as provided by the Bylaws of the Corporation, and at least a majority of the Board of Directors shall
be members of the Corporation or shall be authorized representatives, officers or employees of a corporate member of the
Corporation. Notwithstanding the foregoing, so long as RS Corp. of Raleigh, a North Carolina corporation, owns fifty percent
(50%) of the total condominium units in the Condominium, but in any event, not longer than April 1,1987, said RS Corp. of
Raleight shall have the right to designate and select a majority of the persons who shall serve as members of each Board of
Directors of the Corporation. RS Corp. of Raleigh may designate and select the person or persons to serve as a member or
members of each said Board of Directors in the manner provided in the Bylaws of the Corporation, and such person or
persons so designated and selected need not be a resident of the Condominium_
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ARTICLE X
The Board of Directors shall elect a President, Vice President, Secretary and Treasurer. The President shall be
elected from among the membership of the Board of Directors, bu no other officer need be a Director. The same person may
hold two offices, the duties of which are not incompatible; provided, however, that the office of the President and Vice
President shall not be held by the same person, nor shall the office of President and Secretary by held by the same person,
ARTICLE XI
The names and addresses of the initial Board of Directors who, subject to the provisions of these Articles of
Incorporation, the Bylaws and the laws of the State of North Carolina, shall hold office until the first Annual Meeting of the
Membership (or until their successors are elected and qualified) are as follows:
F'.R Bodenhelmer, Jr
20 East Martin Street
Raleigh, NC 27602
Larry W. Byrd
20 East. Martin Street
Raleigh, NC 27602
C.K. Upchurch
5006 Lancaster Road
Greensboro, NC 27410
ARTICLE A
The original Bylaws of the Corporation shall be adopted by a majority vote of the members of the Corporation present
at a meeting of merrmbers at which a majority of the membership is present, and thereafter, such Bylaws may be altered or
rescinded only in such manner as said Bylaws provide.
ARTICLE XI II
Every Director and every officer of the Corporation shall be indemnified by the Corporation against all expenses and
liabilities, including counsel fees, reasonably incurred by or imposed upon him in connection with any proceeding to which he
may be a party, or in which he may become involved, by reason of his being or having been a Director or officer of the
Corporation, whether or not he is a Director or officer at the time such expenses are incurred, except In such cases wherein
the Director or officer is adjudged guilty of willful misfeasance or malfeasance in the performance of his duties; provided that,
in the event of any claim for reimbursement or indemnification hereunder based upon a settlement by the Director or officer
seeking such reimbursement or indemnification, the indemnification herein shall only apple if the Board of directors approves
sE 1(:h settlement and reimbursement as being in the best interests of the Corporation. The foregoing right of indemnification
I be in addition to and not exclusive of all other rights to which such Director or officer may be entitled.
ARTICLE XIV
An amendment or amendments to these Articles of Incorporation shall require the assent of seventy-five percent
(75%) of the Board of Directors.
ARTICLE XV
The name and address of the incorporator is as follows:
W, Daniel Martin, III
1001 College Court
New Bern, North Carolina 28560
IN TESTIMONY WHEREOF, 1, being the Incorporator, have hereunto set my (nand and seal, this the 12th day of
April, 1982.
BACK TO CONVENTS

DECLARATION OF UNIT
OWNERSHIP OF POINT EMERALD VILLAS
CONDOMINIUM, PHASE i
TFIIS DECLARATION, rihade this i 3tii day of April, 1982 by IRS CORP. OF RALEIGH, a North Garonne corporation
(► -reinafter referrer) io as "Develowr"),
WiTNE55CTH:
WHEREAS, Developer is the owner of a certain tract or parcel of land lying and being siluato in White Oak Township, Carteret
County, North Carolina, being an Bpguo Ban%$, said tract or parcel of land being more particularly described In ExhOlt A
attached hereto and Incorporated (herein by reference; and,
WHEREAS, the Developer has executed a deed of trust to Jlrrnllis J, Eason, Trustee for Stockton, While and Company, said
creed of trust being dated July 14, 1981 and recorded July 17, 19t11 In Book. 454, at Page 443, in the office of the Register of
Deeds of Carteret Counly, ans the said Jimmio J, Eason, as Trustee, and Stockton, While and Company loin In the execution
of this Declaration to subordinate the lion of solo Creed of Trust lheraunta; and,
WHEREAS, the Developer has executed a deed of trust to David L. Ward, Jr., Trustee I'm Ravenscroft School, Incorporated,
s-aid deed of trust being dated July 44, 081 and recorded July ,14, ,1981 in Hook 454, at Page 441, In the nfiice of the Register
of Deeds of Carteret County, and the said David L, Ward, Jr., as Trustee, and Ravencroft School, Incorporated loin in the
executicin of this Declaration to sUbordtnate the lien of said Deed of Trust thereunto; and,
WHEREAS, the Developer desires and intends by the filing of this Declaration to submit the property hereinafter described and
all Improvement constructed or to be constructed thereon, together With all appurlenathces thereto, to the provisions of Chapter
47A of the North Carolina General Statutes, as amended, entitled the "Unit Ownership Acl."
NOW, THEREFORE. the Developer thereby submits the tracts or parcels of land hereinnfter described to the prowslons of
Chapter 47A of the North Carolina General Slatutos, as amended, and hereby publishes its plan as to tho divislon of the tracts
of land hereinafter described, the impamltIon of restrictive and protective covenants, conditions, restrlritlons, reservations, liens,
agreements and charges thereon, and the individual ownership thereof, and hereby specifies that this Declaration shall
constitute restrictive and protective covenants, conditions and reservation which shall ruts with the land and shall bitted and
orture to the betiefil of the Developer, Its successor -sand assigns, and oil subsequent owners of any Interest In the tracts or
parcals of land so committed to the Unit Ownership Act, their (heirs, successors and assigns,
ARTICLE t
F-STA13LISHMENT OF CONDOMINIUM
Tile Developer does thereby submit the property lrisre particularly described on Exhibit B attached hereto and incorporated
herein by reference (hereinaher referred to as the "Property"), slid Ilse Improvements located thereon and Improvements which
ly in the future be located thereon to condornIntunl ownership under the provisions of Chapter 47A, as amended, of the
coral Statutes of North Carolina, and hereby declares tile same to I3e a cor7Ctaminiurn to be known and iddrttlflt±d as "POINT
EMERALD Vit-1,A5 COMDOMlNIUM. PHASE I", which shall contain sixty-nine (69) living units, their suppartin17 facillttet arid
otiler appurtenant imprravamenis.
POINT EMERALD VILLAS CONDOMINIUM, PHASE I is the first phase of one or mare phases wlilcth the developer proposes
to treat, each of which, If developed under this Declaration, will Ica Iocaind within, but not necessarily ancompsssingt all, the
real property described in F-khlbit A altoched hereto and incorporated herein be reference. Any tadciitlonal phase, If dedirfmled
pursuant to this Declaration, will be developed within seven (7) years of the date or. this Declaration under a common plan
whlclh Include common recreational facilities and provisions for tlhalnlenance and other services through a common
administration. Each parcel or treat of land, together wilih the improvements thereon or to be placed thereon, which may be
submitted to the condominium form of ownership pursuant to this Declaration shall constitute an addillon to the original
condominium and shall be deslgnalrid Consecutively as "POINT EMERALD VILLAS CONDOMINIUM, PHASE Ii POINT
EMERALD VILLAS CONDOMINIUM, PHASE III, and such similar designation (or each phase thereafter. The Amendment of
Declaration shall bp, made acid recorder) in the office of the Register of Oe6ds of Carteret Courtly, North Carolina, to include
each phase which may he constructed In this Declaration, All improverrhents of any additional phase will be substantially
completed prior to the inoorporatlon tit such phase into tile condominium, in order to facilitate the operation and administration
of all phases of tho condaminlutn, therek shall be tormed a non-profit corporation hihown as Point Emerald Villas Association,
lnr„ which shall have the general authority and responsibility for tho operation and administration of the condominium and ail of
Its dedicated phases, It additional phases are built and dedlcated, amendments to this Declaration shall be rnade to bring said
phases under this Declaration and into the Point Emerald Villas Assortallon, Inc, The auilindly and responsibility of POINT
EMERALD VILLAS ASSOCIATION, INC, shall be as describer) In (his Declraration, the Articles of lncoporation and Bylaws,
The additional phases mey consist of one or more buildings, not to exceed a total of six (6), containing eighteen (10) units
each, generally In keeping with thty style, design and size of Building C and Building n as herein describer).
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ARTICLE II
D FINITIQNS
As used In this Declaration, they Bylaws and the exhlbIhs attached hereto, and all amendments than©of, unless (lie
context otherwise requires, the fallowing definitions shall prevails:
A. The "Act" shall mean and rotor to Chapter 47A of the North Carolina General Statules, as amended, It Is the
1 or the Developer that the provisidris of (he Act shall control the creation of the Condominium. Should there be any
between the Act and Oils Declaration, lire Act shall control to the extent that The Act does not allow variances,
B. "Association" shall mean point Emerald Villas Association, Ina,, a North Carolina non-profit corporation, which
entity Is responsible for the operation of the Condominium..
C. "Association properties" shall mean such properly as Is awned by the Association from time to time in
accordance with the terms of this Declaration.
D "89ard of i 1rectors" shall mean the Board of Cilreotom of the Association which Is responsible for the
administration of the Association,
E. "Building" shall mean a struclure or structures containing in the aggregate two or more units comprising a part
of the Condominium.
F, "Bylaws" shall mean the Bylaws of the Association speciflod below as they oxlsl from time to limn,
G. "Common Areas" shall mean and include all of the property of the Condominium with Rio exception of units as
defined below, and shall include general Common Areas.
IA.. "Common surplus`' shall moan Otte excess of all receipts of the Association including, but not limited to
assessments, rents, profits and revenues from the Common Areas and facilities remaining after the deductions of Iha common
expenses,
I. "Condominium" shall mean the property as described an Exhibit B and delineated on the plat attached hereto as
a portion of Exhibit C_
J. "Condominium Unit" or "Unit" shall mean those Individual dwelling units within the Condominium as delineated
on (lie plat and plans of the Condominium attached to ibis Declaration as Exhibit C and made a part hereof. The physIcal
boo6darics of each unit are delineated. an the plans and are mare particularly defined and set forth in Article IV herein. The
arranrJerriont and location of all units and areas occupled by units described her are shown on the aforesid plat and plans.
K. "Developer" shall mean IRS Corp. of Raleigh, Its successors and assigns:
L.. "Management Agreement" shall meaii that certain agreement between the Association; acting by and through
its 8owd of Directors, and any entity providing for (he management of the proportles within Ilia Condominium.
10. "Management Firm" shall mean and refer to the entity Identified as the Management firm in any Management
Agreement or Agreements that may be entered Into from time to time,
N: "Occupant/shall mean any person or persons In possession of a unit,
G "Berson" shall mean any tndividual, firm, corporation, partnership, association, trust, or any other legal entity or
dify combination thereof,
P, "Unit Owner" or "Owner' shall mean any person or other legal entity owning one or more units, including those
owners under purchase contract, but shall not include a mortgagee unles such mortgagee has acclulred fills pursuant to
foreclosure or some other process In lieu of foreclosure.
Q. The terms "Association of Unit Owners", "Building", "Common Areas and Facilities" "IL)eclaration","Majority",
"Property", "Recordation" and "Unit DeMgnatlon", unless It is plainly evident from tite context of this declaration that a different
moaning Is Intended, shall have ilia meaning set out In Section 3 of Chapter 47A of the General Slatutes or North Carolina,
ARTICLE; III
NAME
The name by which this Condominium Is to be identified shall he "POINT EMERALD VILLAS CON©OWNIUM, PHASE
I e"
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ARTICLE IV
IDENTIFICATION AND DESCRIPTION OF UNITS
There are three separate building9 designated as Building A, Building 8 and Building C Located as shown on the site plan
attached hereto as a part of Exlliblt C. Each building has three stories, Suilding A contains thirty-three units, Building B
contains elghtecn unit, and Building C contains eighteen units,
~e Are six different unit configurations which, for the purpose of identification wlttl reference to this Declaration, are
u _ .ignated as follows;Type I Unit and Type i_R Unit, containing 1,152 6cluare feet, Type 2 Unit and Type 2-11 Unit, containing
1,102 square feet, and Type 3 unit and Type 3-R Unit, containing 888 square feet.
They approximate area and configuration of each unit is shown on the plat and plans atlac;hed hereto as a part of Gxhibll C,
which plat and plans show the number of roams In each unit,
For purposes of Identification, all units located in the Condominium are given identification nurn Hers as delineated on Iaxhibit C.
No unti bears the same idranlifylng number as does another unit. The common areas and facilities are designated on Exhibit
C, Forth, Exhibit C, together with this Declaration are In sufficient detail as to Identify the lcruation, dimensions and site of the
common; areas and of each unit_
Each building is Milo supported and is of modular, wood frame construction, Lila exterior of which consists of cedar lap -board
siding and an asphalt shinglad and me;rirbrane roof. The3'lnterlors shall be constructed of slheetrock with wallpaper and vinyl
and carpeted floors.
ARTICLE V
OWNERSHiP Or CONDOMINIUM UNITS
AND APPURTENANT INTEREST IN COMMON AREAS
Each unit shall be conveyed and treated as an Individual property ea }able of lndepondent use and fee sirsiple ownership, Tile
owner of each unit shall also own, as an appurtenanct to the ownership of each said unit, an undivided interest in the common
areas, The undivided Interest appurtenant to each condominium unit shall be as set out in Exhibit D attached hereto and made
a part hereof, The proportional Interest it) the comnldn area that is appurtenant to each candominivirn unit has been
del©rrnined by a ratio formulated upon the approximate relation that the fair market valuo of each unit, upon the date of the
Declaration, bears to the then aggregate fair market value of all at the units having en Interest in the common areas, -Pie fait
market value of each unit and the aggregate fair market value of all the units have been determined by the Developer, and are
binding upon all unit Owners,
The Developer may, but does flat obligate Itself to, Incorporate additional phases into the Condominium. If additional phases
are added to this Cundoininium, the appurtenant undivided interest of each owner in the total carnrnoo area shall decrease In
accordance with Exhibit E, Exhibit F, Exhibit G, Exhibit H, Exhibit I and Exhibit J.
ARTICL VI
RESTRICTION AGAINST FURTHER SUBDIVISION
AND SEPARATE CONVEYANCE OF APPURTENANT COMMON AREA
No condominium unit may be divided or subdivided into a smailor unit nor shell any condominium unit or portion thereof be
added to or Incoeporated Into any other condominium unlL
The undivided interest In the Corllmtan area doalored to be an appurtenance to each condominium unit shall not be conveyed,
devised, encurnbared or otherwise dealt with separately from sold unit, and the undivided interest in file cot11"I'l rn area
appurtenant to each condominitrrn unit shall be deemed conveyed, devised, encumbered or otherwise included With the unit.
Any conveyance, mortgage or other Instrument Which purports to grant any right, interest or Ilan In, to or ripen a condominium
unit shall be null and void Insofar as it purports to affect any interest In a condominium unit and its appurtenant undivided
Interest In a common area unless It purports to convey, devise or encumber the entire condominium unit. Any instrument
conveying, devising or encumbering any unli which describes said unit by the designation assigned hereto shall be construed
toaffect the entire condominitm unit and its appurtenant undivided Interest in the common area, No 1101allon is planed on the
ownership of any condominium unit by any person or persons as tenants in corn mon, jolot tenants or as tenants by the entirety,
ARTICLE VII
EASEMENT OVER COMMON AREAS
The common areas are hors by declared to be suhjoct to a perpolual non-exclusive easement in favor of all of [tire unit ownors
for their use and Ilia use of their immediate families, guests rind Invitees, for all property purposau, and for the furnishing of
services and facilities for which they are intended and for the enjoyment of the unit owners. Notwithstanding the foregoing, the
Association shall have the exclusive right to establish the rules and regulations pursuant to which the unit owner, his family,
guests arid invilees may be entitled to use the common areas, including the right to assign parking spares and to establish
regulations concerning their use and maintenance,
The Association shall have the right to grant permits, licenses and easements over the common areas for utilities. roads and
other purposes reasonably necessary or useful for the proper maintenance or operation of the Condominium,
ARTICLE VIII
BASEMENT POR UN114TENTIONAL
AND NON -NEGLIGENT ENCROACHMENTS

In the event !lint riny concfofninlurn unit shall Onoroach Upon oily common area, or other condominium unit tar any reason not
caused by Iiie purposeful or negligent act of the unit owner or agents of such owner, than on oasoment appurtonkint to such
condominium unit stall exist for the continuance of such encroachment upon the commas area ur upon a condominium unit
for as fong as such encroachment shall naturally exist, In the event that any portion of the common area shall encroach upon
any condominium unit, then an easement shall exist for the continuance of such encroachment of the common aran upon any
r lominlum unit for so long as such encroachment shall naturally exist, If any condominium unit or common area be parlially
i otally destroyed as a result of fire or other casualty, and If upon reconstroatiun of such unit and/or common area In
accordance with Articla XVII hereof, there exist encroachrnenls of portions of die common areas upon any condominium unit
or of .any condominium Unit upon any other Condominium Unit or upon any potilon of the common areas, there surti
encroachments shall be permitted and a valid easement for the mainlenance thoreof small exist so long as such
encroachments naturally remaln.
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ARTICLE IX
COMMON AREAS AND FACILITIES
NOT SUBJECT TO PARTITION Oh DIVISION
The common areas and limited common areas shall remain undivided anti no unit owner or any other person shall caring any
action for partition or division of any part thereof, excopt as may be provided liar herein, er as my bra required under Illu Act.
ARTICLE X
REGULATIONS PERTAINING TO USE OF COMMON AREAS
The Use and maintenance of all common areas be the unit owners, and all other parties authorized to use the same, shall be
subject tcl such rules and regulations au may be proscribed and establisher) from) time to time by The Association.
ARTICLE XI
OPERATING EN'riTY AND
ADMINISTRATION OF THE CONDOMINIUM
The opereling entity of the Condominium shall be the Point Emerald Villas Association, lnc,
A, Powers: The Association shall have ail the powers and duties set forth In the ArA, as well os all of the powers and duties
granted to or imposed upori it by this Declaration, the Bylaws of the Association, and its Articles of Incorporallon, a copy of said
Articles of Incorporation being attached to this Declaration as Exhibit K and made ra pert heiecif, and all of Ilia powers and
dulles necessory to operate the Condominium as set forth In Oils Declaration and the Bylaws as that' may beamended from
time to lint.
The Association's Bowers of maintenance, operatiorr, adnilnislralion, management and care of the Condominium msy too
delegated to a Management Firm as provided for in Article XIV hereln.
All other affairs of tho Association shall be conducted by the Board of Directors who shall tae dosingated in the manner
provided for in the Bylaws of the Association,
In the attic€nistrailon of the operation and management of the Condominium, the Assoolalfun is hereby chanted the authority
and power to enforce the provisions of this Declaration, to levy and to collect assessments in the manner herolnuflor provided,
and to adopt, promulgate and enforce such rules and regulations governinq the use of the condominium units, common arras
and limited common areas as Its Board of directors may deem to he In the bast tntersest of the Condominium,
8. Mombers:
(1) Quollflcallons- The werribers of the Association shall consist of all of ilia record owners of the units.
(2) Change of Membership: Change of membership Iri the Association shall ba established by the recording in
Elie offlce of the Register of Deeds of Carteret County, North Carolina, a deed tar other Instrunignt establishing a record title to
a unit or units in the C❑rndoniinlofn and the rdelivary to the Association of a certified copy of Such irislrunienl, the owner
designated by such instrument thereby becoming a member of ttie Assiaciatlom The membership of the prior owner of the €snit
1.1 be thereby terminated.
(3 ) Voting Rights: There slisll be one person With respect to each unit who shall be entitled to vote W any
rnecting of the Association and such person shall be known and is hereinafter referred to as the "Voting Member", If a unit is
owned by more then one person, file owners of said unit shall designate osie of lhvm as the Voting Member, or in the case of a
corporate owner, a designated officer or esiiployee of Ilia corporation shall be the Vollrig Merineber, The unit owner or owners
niay designate some person to act as proxy can his or their behalf who mart not lie an owner. Such designation shall be made
In writing to the Board of Directors and shall be revocable at any time by actual notice to the Board of Directors of the death of
judicially declared Incompetence of any person so designated, or by Wrilteri notice to the Board of Directors by the owner or
owners. The total number of votes of all Voting Manibers shall bo one hundred (100) and each owner or group of owners
(Including fhe Board of Dlrectors tf said Board or its designees shall then bold title to one or more units) shall be entitled to the
number of votes equal to the tonal of the percentage of ownership In the common areas applicable to his or their unit ownership
as net forth In Exhibil 0 of this Declaration.
C. Indoninificallon of Directors; Every director and every officer of ilia Association shall be indemnified by the
Assorlallon against all expenses and liabliliies, including attorneys reel, re,"isdnably incurred by or imposed upon him In
connection with any proceeding to which he may be a party, or in which tie may become; involved, by reason of Ills being or
having been a director or officer at the time of the acts in question where such expenses Biro incurred, except in such rases
Wheroln (lie director or officer Is adjudged guilty of .willful misfeasance or malfeasance in the perlarmance of his duties,
provided, that in the event of a seltlenient, the indemnification herein shall apply only whan the Board of Directors epproves
such s;etllemant and ratmbursement as being for the hest irtterasts of the Association. The foregoing rights of indQmnificalion
shall be in addition to and not exclusive of all other rights to which such director or officer may be entitled,
D.Sylawst The BylaWS 4f the Ausocfallon shall be In (lie form attached hereto as Exhibit L as amended from Brice to
time.
E. Property In Trust., All funds and the titles of all propothas acquired by the Association and the proceeds thereof shall
be held in trust for Ilia members In accordance with the provisions of this Declaration and Iliv Bylaws,
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ARTICLE XII
COMMON EXPENSE AND COMMON $URPLUS
The common expenses of the Con oniinium shall be shared by the, unit owners in the same proportion that the undivided
Interest in the common areas appurtenant to each owner's unit bears to the laiai of all undivided Interest In the Common areas
apputenant to all condominium units. Any common surplus of the Association shall be owned by the owners of all
t doininlum units In fire saran proportion ifiat the undivided interest in [tie common areas appurtenant to oath ownor'.s unit
i. _ -s to the total of all undivided interest In (lie common areas appurtenant to all condominium units, provided, however, that
said common stirplus shall bo held by the Association In the manner, and sttbjert to lho torms, provisions and conditions of
this declaration, imposing certain limitations and restrictions upon the usp and distrlbutlon thereof. Except for the distrlbulon of
any insurance Indernrilly lierelo provided, or upon termination of the Condominium, any attribution or distribution of tho
common surplus which may be mado from time to time shall be made to Ilia then owners of the condominium units In
accordance wilts their prospective Interest in the common surplus as declared heroin.
The share of a unit owner In the funds and nssefs of the As�oclatlon cannot be assigned, hypothecated or transferred In any
rtiannor except as an apportenance to his unit
ARTICLE XIII
MANAGEMENT AGREEMENT
The Association may corllract wilt) a management fine to provide all elements of the operation, care, supervision,
maintenance and martpament of the Condominium, All the powrars and duties of the Association necessary or convenient for
such rnaintanance anti managernent may be delegated to end vested In the monagemont Firm by the Board of Directors,
except such as are specifically required by this Doclaration, the Bylaws or the Act to have (he approval of trite Board of
Directors or tho Association, Further, the Board of Directors may delegate to ,uch management firm the power of the
Association to determine the budget, matte assetismonts or common expanses and collect such assessments as provided In
this Dnclnrnlion, Finch stint owner, his heirs, successors anti assigns, by acquiring title to such unit or executing a Contract
therefor, shall be deemed to:
A, Adopt, ratify, confirm and consent to rote execution of such management Agreoment(s) by the Association.
B. Covenant and promise to perform each and every covenanl, promise and ondettaking to be performed by the
unit owners as provided In such management agreemenl(s),
C. Agree that the persons acting as directors and officers of the Association, by entering Into any such
management agreement(s), will not breach any of their duties or obligations to Ilia Associatlrart,
D, Adopt; ratify, c;onflem and consent to the Board of Directors and officers of the Association entering into suc h
ratanagamor�t agreemenf(s)-
ARTICLE XIV
ASSESSMENTS', LIABILITY, LIEN AND ENFORCEMENT
To provide the funds necessary for such propert operation, management and vapitel Improvement, the
Association, through its Board of Directors, shall have the power to make, levy and collect. assessments against the unit
owners and their condominium units, In furtherance thereof, the fallowing provisions shall be operative and binding upon Elie
owners of ail condominium units:
A, All assessments levied against the unit owners and their condominium units shall be uniform and, unless
specifically otherwise provided herein, all assessments riinde by the Association shall be In such an amount that any
assessment levied against a unit owner and his condominium unit shall steer the sane ratio to the total assessment made
against all unit owners and theer condoiininlurn units cis tho undivided Interest In common areas appurtenant to egoh
condominium unit bears to the total undivided Interest in common areas appurtenant to all condominium units. Should the
Association be the owner of a condominium unit or units, the assessment which would otherwise be due end payable to the
Association by the owner of such unit or units, reduced by the amount of Income Which may be derived from the leasing of
such unit or units by the Association, shall be apportioned and assessment therefor levied ratably arnounq the owners of all
units whfoh are now owned by the Association, based upon their proportionate ln(ere.sts in common areas exclusive of the
Interests therein appurtenant to any unit or units owaned by the Association.
S. Assessments provided for herein shall be payable in monthly Installments, or in such other manner as the
Board of Directors of the Association shall determine. Such assessments shall c:ommonce for each unit upon a date selected
by the Hoard of Directors of Ilia Association, but, In any event, not later than sixty (60) flays rafter the conveyance of the first
unit.
C. The Board of Directors of the Association shall establish an annual budget in advance for each fiscal year
(which shall correspond to tits calendar year, except. that In this Initial year of operation of tire Coridominitim, this fiscal year
shall commence with the closing of Elie sale of the first condominium unit). Such budget shall project all expenses for the
forihcaming year which may be required for the proper operation, management and maintenance of the Condorpinlum,
including a reasonable allowance for uontingencles and reserves, such budget to take into account anticipated income which is
to be applles In reduction of Ilia amounts required to be coilooted as an assessment each ynar, The Board of Directors shall
keep separate, in accordance with Paragraph D hereof, Items ralaling to operation and maintenance from items relating to
capital Improvements, Uponadoption of such annual budget by the Board of Directors of the Assbcl€►ilon, copies shall be
tirytivored to eat owner of a contonOnium unit and isle assessment for sold year shall be established based upon such
get, allllough trio non delivery of a copy of it to eaah owner shall not affect the liability of any owner for such assessment.
1). The Beard of Directors of the Association, in eslablishing (he annual budget for operatioo, management and
maintenance of the Condominlum, sliafl designate a Burn to bo colelcted and maintained as a reserve fund for rcptacemunt of
and capital improvements to the common areas which shall be for the porpose of enabling the Association to replace siruntural
elenients and mechanical equipment constituting a part of the common areas, and the replacement of personal property
constituting a portion of the common areas held for the joint use and benefit of the owners of condonilnlum urills:

E, All funds collected by the Assoclellon shall ba troated as the separate property of the Association, and such
funds may be applies by the Association to ilia payment of any expense of operaliog anti managing tho Condo ltiinWin, or to
the proporty undertaking and managino Ilse Condominium., or to the property undertaking of elf acts and duties Imposed upon 11
by this Declaration, the Articles of Incorporation and the Bylaws of (lie Associallon, Although all fund and common surplus,
Including Ilia other assets of the Association, rand any irlf rr meths therelo or profits derived therefrom or from the leasing of
I,` of common areas shall be field for the benefit of the members of the Association, no nitamber of the Associalion shall have
ight to assign, hypothevote, fledge, or in any manner transfer his membership Interest theroln, exempt as an appudenance
to his condominfurn unit. When the owner of a condominium unit shall cease to be a member of the Association, file
Associalion shall riot be required to account to such owner for any share of the fund or o6sels of (lie Association, or whtO may
have been paid to the Association by such owner, as all funds which any owner has paid to the Association shall constilute an
asset of the Association which may be listed In the operation and management of the Condominium,
K The payment of any assessment or installment thereof shall be In default If such assessment of Installment is
not (laid to the M90clation within thirty (30) days of ils due data. When in default, ilia delfnggont arso5sment or delinquent
Installment thereof due to the Assoclation shall bear interest at the highest rate permitted by law until pairs In full to the
Association.
C, The owner or owners of each condominium unit shall bet personally liable, jointly and severally, it) Me
Association for the payment of all assessments, regular or special, which may be levied by the Association �cJaltist such
condominium unit Mille suet► party or parties are owner or owners of a condominium unit, In the event that any unit owner or
owners are In default in payment of any assessment or Installment owed to the Assoclallon, such Unit owner or owners shall be
personally liable, jolnly and severally, for interest rail such delinquent assessment or Inslallnient thereof as above provided, and
for all costs of collecting such assessment or Installment and Interest thereon, including reasonable attorney's fees, wheltlef
suit be brought or not.
H. No owner of a condominium unit may exempt himself from liability for any assessment levied against him or
hls condominium nit by waiver of the Lisa of enjoyment of any of the common areas, or by abandonment of the condominium
unit or In any other way.
f, Recoynl4ing Itit propert operation and management of (lie Condominium requires the continuing payment of
costs and expenses therefor, and that such properl operation and maintenance results in benefit to all of the owners of
condominium units, and that the payment of such common expenses represented by ilia assessments levied and collected by
the Association is necessary in ardor to preserve and protract the Investment of each unit owner, the, Association is hereby
granted n lion upon each condominium unit and its appurlenanul undivided interest in common areas, winch lien shall soiaure
the funds duffs for all ass®Ssmants now or hereafter levied against the owner for each such condomfnlurn unit, whirl) Ilan shalf
also secure all costs rand expenses, including a reasonable attorney's fee, Which may be Incurred by the Association in
enforcing this lion upon Bald condominium unit. The lion granted to the Association may be foreclosed In (lie same manger
+' ,real estate deeds of trust and mortgages maybe foreclosed In ilia State of North Carolina, and in any suit for the
closure of said lien, the Association shall be entitled to rtasonable rental from the owner of any condominium unit from the
date on which the payment of arty assessment or itistrallmont thereof became delinquent, and shall be entitled to the
appointment of a Receiver for field condominium unit. The lien granted to the Association shall further secure utich advances
for faxes, and payments on account of superior mortgages, lions or onuumbrances which may be required to be advanced by
the Association in order to preservo and protect its lion, including Interest at twelve percent (12%) on any such advance so
trade. Ali persons who shall acquire any Interest In the ownership of any condominium unit, or who may be given or acquire a
mortgage, lien or other encsumbronce thereon, are hereby placed on notice of the lion rights granted to the Association, and
shell acquire sucii lmtr;rest in any condorninium unit expressly subject
to such Ilan rights,
J, We lion herein granter) to Ilia Association shall be enforceable from the time of rec:oriaing a Claim of Lion in
the F'ublfc Records of Carteret County, North Carolina, which elairtt shall stale the description of the condominium Unit
eftcUmb@red thereby, the name of the record owner, the wriount due and the date when due, The Claim of Lion shall be
recordable any Urno after default and the Ilan shall continue In effect until ail sums secured by said lien shall have been fully
paid. Such Claims of Lien shall Include only assessmentt� which are duo and payable when the Ciolrn of Lion is recorded, plus
interest, costs, altorney;s fees, advances to pay loxes and prior encumbrances and interest thereon. It shall be signed and
verified by an officer or Agent of the Association, Upon full payine+nt of all sums secured by sucii Claim of Lion, ft shall be
satis0ad and canceeled of record,
The lien provided herein shall be Subordinated to the lien of any morigage or dead of trust. Any person, firm or
corporation aqulrinq title to any condominium unit and its appurienant undivided Interest in common areas by any foreclosure,
deed in lieu of foreclosure, or judicial sale. shall be liable and obligated only for assessments as shall accrue and become due
and payable for said condominiums unit end Its zapurtenent undivided interest In common areas subsequent to (lie dale of
acquisition of such title, and it shall not be liable for the payment of =any assessments which warn In default and delinquent at
the time It acquired such title, In the event of the: sacquisillon of title to a condominium unit by foreclosure, deed In liou of
foreclosure, or judicial sale, any assessment for winch the party so acquiring tifio shall not be Ilabto shalt be absorbed and paid
by all owners of oil dondominium units as a part of Ills comnion expense, although nothing herein contained shall release the
party liable for such delinquent assessment from the payment thereof or the enforcement of collection of such payment by
ineans other than foreclosure.
K, Whnnever any condominium unit may be leased, sold or mortgaged by the owner, shall forrilsh to the
nosed lessee, purchaser or motfyaVee, a statement verifying Ilia status of payment of any assessment Which shall be due
r - payable to the Association by such unit yawner. Such statement shall be executed by any officer of the Association, and
any lessee, purchaser or mortgagee may rely upon such statement In concluding the proposed lease, Purchase or rnorigage
transaction, and the Association shall be bound by such statement.

In the even that a condominium unit is to be leased, sold or martgagefl at the time when paymonr of any
assOssmani against the owner of saki condominium unit and such condominium unit duo to the Association shall be In default
(whether or not a Clalm of Lion has been recorded by the Assoniailon), then the rent, proceeds of such purchase or mortgage
proceeds, shall be appliod by the lessee, f UNI)aaer or mortgagee first to the payment of ony Ilion delinquent assessment or
installment-, thereof duce to the Association before the payment of any rent, proceeds of purchase or mortuage proceeds to the
!er of any condorninluni unit who is responsible for payment of such delinquent asses5inenl,
In arty voluntary conveyance of a eondaminlurn Unit, the purchaser thereof shell be jointly and severally liable with
:teller for all unpold assessments against seller made prior to the time of such voluntary convaytince, without prejudice to tho
rights of lho purchaser to recover from s®ller the amounts paid by the purchaser therefor.
Instltutiun of a Iawsutt to attempt to collect tite payment of any delinquent essessnient shall not be an election by
the Assoclalion which shall prevent It (root thereafter seeking, by foreclosure ar;tinn, antorcement of the collentlwl.of any surns
remaining outing to It, nor shall procoeding by foreclosure to alternpt such collection be deemed to be an election precluding
the insutuilon of a stilt at law to collect any sum Ilion remnlning owing to Association -
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ARTICLE XV
ALTERATION, MAINTENANCE AND REPAIR
OF CONDOMINIUM UNITS AND COMMON AREAS
A, No owner of ra condominium unit shalt permit any structural modlf€cation or alteration to be made to such Unit
without first ola€ning the written consent of the Association, which consent rttay be witliliald In the event that a majority of the
-d of Directors of Ilia Association slrall dotermine Ihat such structural madlficatlons or alterations would adversely offer.# or
i. _,iy manner endanger the Condominium in part or In Its entirety. No owner shall cooso ony Itrmprovornonts or changes to be
made on the exterior of the condominium unit, inctuditig painting or other, decoration, or ttte Installation of electrical wiring,
television, or or any other obtects or machines which may protrude through the; walls or the root of the
eondaminiufn unit, or in ony manner attar the appearance of the oxterlot portion of any building without the written consent of
the Association teeing first obtained. No own or sliall In any manner exclose or cover the balcony or deck portion of his unit with
glass, ptexigtass, mast, screen or any other material or substance. No unit owner shall cause any aNe-ol to be fixed to the
common areas Including the location or construction of fences and the planting or arowIng of flowers, trees, schi-04 or rather
vegetation, or Iii any manner change tile appearance of tho common areas without the written consent of the Assor:iatlon
being first oblalned.
K wary owner shall pertorrn promptly all maintenance and repair work within his condominium orilt which. if
omitted, would affect the Condominium, either In Its entirety or In part, every owner t)eJng expr'ossly responsible for the
damages and Ilobility wtilch his failure Io do so may so engender. The owner of each unit shall be Ilabkr and responsitilr; for
the maintenance, repair and replacement of all heating and air conditioning equipment regardless of where located, unless
sugli equipfrrent Is damdmged by a peril covered under policies of Insurance owned by the Assactatloil, and stovos,
refrigerators, fans or other appliances or equipment, Including any fixtures and their connections required to provide waler,
l EIM, power end telephone service to Ills eondor rfnium unit, Such owner shall further be responsible and liable for the
mafntenarice, repair and replacement of the Inle for atlifacles of hit walls, callings and Doors within his Unit; lrtcluding painting,
decorating anti furnishings, and all other accessories which such owner may desire to place or maintain In his unit, Whenever
the nialnlenance, repair and replacement of any ilem for which the Owner Is obligates) to rnainwin, replace Or repair at his own
expense is occasioned be any loss or dornacge which may he covered by any Insurance malnlaitied iri force by the Association,
the proceeds of the Insurance received by (lie Association shall be used for the purpose of making such maintenance, repair
or replocerrtont except that the ,owner of such unit shall be, In said Instance, requires) to pay such portion of the costs of such
maintenance, repair and replacement as shalt, by reason of the applicability of any deductibility provision of such Insurance,
exceed (lie amount of the Insurance proceeds applicable to such maintenance, reparr or replacement. All doors, window
frames, glass surfaces and screens are a part of the respective condominiumn units and shall be maintained by the respeclive
unit owners,
C. The Association shall have the right Ib make such alterations or Improvements to the common areata which
,§ot prejudice the rights of the owner of any condominium unit In the use: and enjoyment of his condominium unlit, provided
t,;'.. making of such alterations and Improvements are approved by the Board of Director's of the Association, and the costs
shall be common expenses to be assessed and caileoted Tram all owners of the condominlitin units. However, whoro any
alterations and improvernenls are exOuslvely or substantially far the benefit of the owner or owners of certain condominium
unit or units requesting them, Ilion the costs of such alterations or improvements shall be assessed against and collected
solely from the owner or owners of (he unit or units exclusively or substantially benefited, and the assessment therefor shall be
levied In $Lich proportion as may be determined by the Board of Directors or the Association,
D. The Association, at Its expense, slrall be responsible for the maintenance, repair and replacement of all the
common areas, including those portions thereof which contribute to the support of the buildings, and all conduits, duels,
phimbin, wiring, sewer and other facilities located In the common areas for the furnishing of utility, heating and other services
to (lie condoiiiinium units and tile saki romman areas. Should any Incidental damomge be caused to ony unit by virtue of any
work which may be done Or caused to be done by the Association in the maintenaance, repair or replacement of any common
areas, (lie Assriclation shalt, Ed its expanse, repair such incidental damage. Whenever the maintenance, repair and
replacement of any Item for which trim Association is obilipated to maintain, replace or repair at its expense Is occasioned by
the act of any unit owner, his family, guests or Invitees, and such lass or damage moy be covered by any insurance maintained
In force by the Association, the proceeds of the Insurance received by the Association shall be used for the purpose of making
such maintenance, repair or replacement; provided, however, that ilia unit fawner who Is responsible for the racl or ,acts cadsinq
the damage, whether dame by hIrrtsetf or by ills fatrilly, guests or invitees, shall be required to pay such portion of the coast of
such maintenance, repair and replacement as shall, by reason of the applicability of any deductibility provisi-Ori of such
insurance, exceed the ambunt of the insurance proceeds applicable to such maintenance, repair or replacement,
E, Irl the event of any amargency originating In or threatening any condominium will, regardless of whether the
owner is present at the time of such emergency, the Board of Directors, or any other person authorized by tale Board of
Directors, shall have Ilia tight to enter such unll for the purpose of remedying or abnting the cause of such emergency, and
such right of entry shall lee Immediate,
Whenever it amy be necessary to enter any condominium unit in order to perorrn arty maintenance, alteration or
repair to any portion of Ilia common areas, the unit owner shall permit other owners of their represenlahves, or an agent of the
Assaclatlon, to enter such c;ondonfitiiurri unit for such purposes, provided that tho entry shall be made only at reasonable tiaras
nod with reasonable advance notice to the unit owner,
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ARTICLE XVl
INSURANCE PROVISIONS
A. Authority to Purohaso Insurance: Insurance policies upon the properly (except (tile insurance) shall be
purchased by the Association In the name of the Board of Directors of the Association, as Trustees for the condominium unit
owners, for the benefit of thu condominium unit owners and their respective mortgagees as their Interests may rappear, and
I I proviso for the Issuance of certificates or mortgage endorsements to the holders of first mortgages art the condominium
L 6 or any of thorn, and If the aomponlos writing such policies will agree, the policies shall provide Ihet the insurer waives Its
rights of subrogation as to any claims against condominium unit owners, the AssQclatin and their respective servants, agents
and guosts, Carh condominium unit owner may obtain insurance, ref his own expense, affording coverage upon his personal
proparly and for his personal liability and as may be permitted or required by law, but all such insurance shall conlaln the some
waiver of subrogation referred to above if available,
B. Insurance Coverage and Use anti Distribution of Proceeds: The following Insurance coverage shall be
maintained In full force and affect by the Association covering the oporatioli and mmnager-noilt of Ilia condominium units and
Common areas;
('I) Casually Insurance covering line buildings and all ItriprovemeriN upon the land and ail personal
property st)bjeat to this Declaration and any additions added by amendmeiii, except such personal property as may be owned
by the condominium unit owners, -shall be procured In an amount equal to one hundred percent (100%) of the replacement
cost thereof (exclusive of excavation, foundations, streets and parking facilitles) as determined annually by the Board of
Directors, The Insurance: policy shell contain an agreed account endorsement, Such coverage shall afford protection against
ell rlsRs, subject to normal exclusions, Including (a) loss or damooe by fire and other hazards covered by the standard
extended coverago endorsement and (U) such other rislts as from tline to linie oustonjarily shall be covered with respect to
buildings silimfar In nonstruation, location and use, Including but not Ilmited to vandalism and niallclaus mischief,
(2) PUbllc Ildbility and property damage insurance in such amounts and In such amounts and in such
forms as shall be required by Die Association, including legal tiabllity, hired autornoWle. non -awned automobile and
off -premises employee coverag€ $.
(3) All liability Insurance shall contain cross•I[ability endorsements to rover liabillflos of the condominium
unit owners as a group to a condominium unit owner.
(4) Fidelity coverage protracting a�alnsl dishonest acts by Associallon officers, directors, lrusta :, and
employeas and all other who are responsible for handling funds of the Association In ilia amount of one year's operating
budget, plus; projected reserve balances during the budgeted year. If professional m anBooment Is obi©ined by the Assoceat.ion
and it has [his coverage and It handles [lie funds, then this requirement will be satisfied.
C. Premiums upon insurance3 policies purchared by the Association shall be paid by sold Assoclalion and
charged as ® common expense.
Ci_ All insurance policies purchased by life Association shall be for the benefit of the Association and the
GN.4dominium unit owners and their mortgagees, as their respective interests may appear, and shall provide that all proceeds
payable as a rosult of casually lasses shall be paid to the Association. The Association shall hold such proceeds In trust for
the benefit of tl,e association, the condominium unit owners and their respective mortgagees in the following shares:
(1) Proceeds an nc:count of damage to common areas: In undivided shares for each condominium unit
owner and his mortgagoo, if any, which Is sat forth as the condominium unit owner's share as then exists under Artidle V.
(2) Proceeds on account of damages to condominium units shall be hold In the following undivided
shares:
(a) Partial destruction when the Condominium Is to be restored: for the owners of damaged
condominium ulnits In proportion to Ilia casts of repairing the damage suffered by each damage condominium unit;
(b) Total destruction When the Condominium Is not to be restored for all cgraalominlum unit yawners
anti their unortgageas. the share of each being sat forth In Article V.
E. In the avant a mortgagee endorsement has been Issued as to a condominium unit, the share of the
condominium unit owner shall be held for the mortgagee and the condominium unit owner as their Interests rilay rappaar; but
nothing herein coolained shall be construed so as to give any morlyagee the right to determine or participate in the
determination of reconstruction or repair,
F= Proceeds of insurance policies; received by the Association shalt tie distributed to or for the benefits of the
beneficial condominium unit owners In the following manner.
(1) if the cdarnacge for which Ilia proceeds shall be paid to dotr'ay the costs thereof as elsewhere provided.
Any proceeds remaining after defraying such costs shall be distributed to the beneficial condarninlurn unit owners, all
remittances to condominium unit owners and their mortgagees being payable jointly to them. This Is a covenant for the benefit
Qf any mortgagee of a crandominiuini unit and may be onforced by him.
(2j It it Is determined that the damage for which the proceeds are paid shall not be reconstructed or
repaired, the proceeds shall be distributed to the beneficial condominiuni unit owners, remiltances to condorriiniurn unit owners
and their trtortgragecas being pt)yably jointly to them- This It to covorlanl for tile benefit of any mortgagee of a nondominiom unit
and may be enforced by him.
O. Each unit owner,. at his okpvnse, shall keep In force comprehensive personal liability insurance covering
11-Wllty for damages to person or property of queer located withirn such owner's unit, or another unit, or upon they aomnaan area
facilities,
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ARTICLE XVII
RECONSTRUCTION OR REPAIR AFTER CASUALTY DAMAGE
A, D aterniirration to fiecanstruct or Repair: If arty part of tiro Condon ilnlum shall be darringed by csasuralty, wliotlter or not
It should Lie reconstructed or repaired shall be determiner) in (tie following rnantaer,
(1) Common ,fired.- If tho damaged IMprovernont Is a cummun area or facility. the damaged property shall be
nstructed or repaired, cualess It is dotennined in the mariner elsewhere provided Ilint the Condominium shall be terminated.
(2) Condominium Units:
(a) Partial Destruction: If the damaged Improvements is a uotidamiilium unit, and if tvrminalion as
provident In subparagraph (b) Below does not take place, the damaged property shall be reconstructed or repaired unless
within sixty (60) days after lho casualty It is determined by agreement in the manner elsewhere provided that the Condominium
shalt be terminated,
(b) Total DwArtiction.' If more than two-thirds (2)3) of the condominlpni units ere destroyad arid the
owners of thrum-fourilis (314) of the units in the Condominium should determine not to proceed with repair or restoralion, then
the procedure set forth in Sec:tioij 47A-25 of the Narlti Carolina General Statutes, and any amendement lhorcito, shall take
place.
B. Plans and Specifications: Any reconstruction or repair must bo substantially In accordance with the plans and
specifications for the original buildings attached to this Declaration as a part of Exhibit C.
C. Responsibility: if the damage Is only to those parts or one unit for which the responsibility of maintenance and
rapail is that of the unit owner. then the unit owner shall be responsible for teconstructlon and repair after casualty. In all other
lrastances, the responsibility of reconstruction and repair after casually shall be that of the Association-
D, Eallmate of Costs,, Immediately after a determination to rebuild or repair damage to properly for which the
Association has the responsibility of reconstruction and repair, the Association shall obtain reliable and detailed estimates of
the cost to rebuild or repair. Such casts may Include profosMonai fees and premlunis far such bonds as the Board of Directors
deems opproprlate,
E. Assassrnants: If the proceeds of Insurance are not sufficient to defi-ay the estit'tated costs of deconstruction and
repair by the Assaciallon, or If at any time daring reconstructlon and repair, or upon completion of reconstrr.ralion and repair,
the funds for the payment of the costs thereof are Insulfc:lant, assessments shall be mane agalnst the tinft owners who own
the darnaged units, and against all unit owners In case of dainage to ooia mon areas are reserved, in sufficient arriounls to
providefunds for the payment of nuch costs. Such assessments against (lie unit owners for damage to units shall b in
proportion to the cost of deconstruction and repair of their respective units. Such assessments on account of damage to
common areas and limited cgrnnion areas shall be in proportion to Ilia unit owner's sharp In the common area and limited
common areas,
ARTICLE XVIII
CONDEMNATION OF COMMON AREA
In the event of taking of any of tho common area by any governmental at,111horlty pursuant to condemnation proceedings,
the Association shall represent the unit owners in any such condemnation proceeding, or in negoliailons, settlements or
agreernersls with tho cnndemninp authority for the acquisition of the common areas, or part thereat. By the acceptance of
delivery of a deed conveying a co idominlur)► unit, the owner of such unit hereby appoints the Association as attomey-in-fact for
such purposes.
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ARTICLE XIX
AMENDMENT OF DECLARATION OF CONDOMINIUM
This Decslaratlon of Condominium may be amended in file following manner-
A The Developer shall leave the dohl at any lirne wilhirt seven (7y years of the date of this DeGIE)ralion to aniond
this Decloratlon without further consent to the unit owners or Institutional Landers, to incorporate Into the Condumril un (I) all
V 'and described in Exhibit A elfached hereto and incorporated herein by reference and (Il) the additional 108 dweiling units
w Ai may be constructed upon such additional land by the Developer In phases as may bo dotermined by the Developer, In
life event that 11•0s Declaration Is so amanddd, the lemi "Property" as used hereln shall be deemed to include part or all of the
-additional property doscribed in Exhibit A and all Improvements and slructures now or hereafter placed upon said property by
the Developer, all easoments, rights end appurtenances thereto, and all articles of personal property provided by the
Developer and intended for use to connection therewith. Upon such ameridnient, the undivided interest appurtenant to each
cundominion) unit shall tie decoasad as set out In Article v hereof, No amendment made by the Developer In accordance witli
this paragraph shall divest an owner or any portion of Ills condominium unit without t11e consent of such owner and fie such
amendment rltall materially altar the pion of development set forth herein without the consent of all owners affected thereby.
Each unit owner and each Institutional Lender shall further be deemed by the owners acceptance of a dead to a condominlum
unit to have appointed the Developer their attorney -in -fact to give, execute and record the consent of said owner and said
Ins-0tutional Lender to any and all arnendments to this Declaration which Rile Developer may execute pursuant to Ihg powers
herein reserved-
13. tWKcept for amendment pursuant to Paragraph A of this Article, an armendrnanl to this D"laration may be
proposed by the Board of Directors of Ilia Association acilrlrg upon a vote of a majority of directors, or by the members of 1110
Association owning a majority of the condominium units, whether ideating as members or by irisliunlent In writing signed by
them, Upon any amendment to this De:claretion being proposed by the Board of Directors or the members, such proposed
amendment shall be transmitted to the President of the Association, or other officer of the Association in the absence of the
President, who shall thereupon call a Special Meriting of the members of the Association for a (late not sooner than twenty (20)
days (tor later than sixty (60) days from the receopt by him of tha proposed amandipent. It shall be the duty of the Secretary of
the Association to give each (camber weiltah nclice of such Spr:ciai Meeting, staling the time and plAcr3, and reciting the
preposed arriondment In reasonably detailed farm, which noltce shall be' (nailed not less Ikon ten (io) days nor snore than thirty
(30) clays before this date. set for such Spacial Meeting, if nmlled, such notice shall be propoerly given when deposited in the
United States Postal Service, portage prepaid, addressed to the member at Ills post office address as It appears on the
records of the Association. Any member may, by written waiver of notice signed by Such mamber,-waive such notice, aria
stir;h waiver, when filed in the records of file Association, whother before or artar the holding of ti►e (meeting. shall be deemed
equivalent to IhQ giving of police to such members, At the meeting, the arriendmant proposed must be approved by an
affirmative vote of sevenly4ive percent (75%) of the members owning units In the Condominium in order for such amefldmenl
,icome affective, Thereupon, such amendment of this Declaration shall be transcribed and certified by the President and
L _ zetary of Ilia Association as having been duly adopted. The original or an executed copy of such amendment so certified
arid executed with the same tormallties as a deed shall be recorded as an ornendment to this Declaration In Ilia office of Pie
Roglster of Deeds of Carterot County, North Carolina within twenty (20) days from the date on which the saute became
effective. At any meeting field to consider such amendment, the written vote of any nienihor of the Assuciallon shall be
recognized If:such member Is not In attendance at such meeting or represenlett thertwal by proxy, provider# such written vote is
delivered to the Secretary of the Association prior to or at such maoting,
C- No alteratloli In the percentage of ownership in cornmon areas eppurtanaiit to each condominium unit, at
alteration of the basis for sharing common expensas and other apportionment of assessmtints which rimy be levied by the
Assaciallon in accordance with ttie provisions hereof or alteration of the basis of ownership of common 5l.rrntus, or alteration of
the voting rights In Ilia Association, shall be made without the prior written consent of all of the owners of all condominH:im units
and all of iho Institutional Lenders holding iirsli mortgages or first deeds of trust on (tie condominiurn units, subject to the
provisions for adding additional phosos pursuant to Parar#rapil A of t11lts Article.
D. No alteration, amendment or modincatlan of the rights and prlvIftes granted and tatnerved hereunder in favor
of Lender shalt be made without prior written consent of all Lenders !inkling mortgages or deeds of trust on condominium! units
in Iho Condominium being first had and obtained,
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ARTICLE XX
TERMINATION
Tile Condominium shall be terminated, if at all,. In the following manner,
A, The terminatien of Ilia Condominium may be effecled only by the unanimous agreement of all condominium
unit owners expressed In an instrument duty recorded; and, provided that the holders of all first mortgages or first deeds of
fr st affecting any of Die condominium units consont t)ieroto, or agree, by Instrument duty recorded, that their liens may be
sferred to the powontafie of ilia undivided interest of the condominium unit owner in the property as provided in Paragraph
C of this hticle. The termination shalt become: effective when such agreements have been recorded in the office of the
Register of Deeds of Carteret County, North Carolina.
R. If it Is determined In the manner elsewhere Provided that the Condominium shall not be feconstructed after
casually, the Condominium plan of ownership shall be tedrminated and the Declaration of Condominium revoked, The
deterniination not to reconstruct vier casualty shall be evidancecl by a Ceriificalc of the Association certifying ris to the facts
effecting the termination, which Certificate shall become effective upon being recorded In tiie office of the Register of Deeds fit
Carloral County, North Carolina.
C, After termination or ilia Condominium, the unit owners shall own Elie property as tenants in common in
undivided shares and lho holders of all mortgages and liens apa nst the condominium unit or units formerly owned by tiie such
condominium unit owners shall have mortgages and liens upon the respectiv€i undivided shares of the condoniinlum unit
owners. The undivided share interest owned as lenarrts in common Shall be that percentage of the undivided interest In the
common areas previously owned by each unit owner. All funds field by ilia Association and imsurance Orncceds If any, shall be
held for No unit owners In ilia some proportion. Toe casts incurred by ilia Association in connection with the termination shall
be Ei comnlon expense.
D. Following termination, the property irtay be partitioned and sold upon the application of tiny condominium unit
owner. Following a termination, if tile Board of Directors determines by not less than a three-fouribs J314) vote to accept an
offer for the sale of the property, arch Goodorninlurn unit owner shall be bound to execute such deeds and ollier documents
reasonably required to effect such sale at such tittles and In suph farm as the Board of Directors direots. In such avonl, any
act or porlition or other division of the property shall be hold in abeyance pending such sale, and upon the cr,nsurnmatlon
iheroof shall be disctrtitined by all parties Ifierrato.
E, The members of the Board. of Directors, acting collectively es agents far all unit owners, shall conline to have
such powers as granted Herein evert though the Association may be dissolved upon a termination,
ARTICLE XXI
USE AND OCCUPANCY
A. RI-SIDENTIAL USE RESTRICTION: The owner of a unit shall occupy and use his unit as a single. -family
r`� irate dwelling for himself and the members og his family, ills guests, Ilconses, lessees and Invitens; provided, howavor, that
Developer, so long as it continues to own and promote the sale of �r unit, shall be entitled to utlllzc units es sales rmodets
acid to carry on Stich other activities In furtherance of its development tt plan as it doeriis appropriate.
B. PRQHM&E❑ ACTS: The condominium unit owners riiiall not penriit or suffer anything to be done or kept in
any unit which will increase tiie rate of insurance on the Condorninlum, or which will obstruct or Interfere with the rights of
other unit owners, or annoy other unit owners by unreasonable noises or otherwise. Further, the unit owners steal not corninit
or permit any nuisance, or any immoral or illegal act In or about the property,
C. OTHER RESTRICTIONS:
(1.) fdo owner shall permit any ezookincg of any nature whatsoever or the use of any type of charcoal or gds grill or
other cooking unit on the balcony or deck comprising a part or his unit;
(2) All coverings of any type on any exterior door or window or other glass surface sli€itl contain o lining or bu
constructed in such a manner so that the color of the same shall be while when viewed from the exterior of the unit.
NEXT PAQE.

ARTICLE XXII
RIGHTS RESERVED U14TO DEVELOPER
In addition to each and every right of the Developer as set forth herein, Ilia Developer, its successors and assigns,
spociflcally rasorves to fallowing:
A. The right to use a portion of the common areas for the purpose of aiding In the sale or rental of units, including Iha
riYy► to use portions Af tiie Condominium for parking for prospective purchasers and other such pariles as Devealopor
t -rnines_ The foregoing right shall include tho right to display and erect signs, billboards and placards and to store, keep
aria exhlbit snim and dfslhbute audio and visual promotional materials upon the carnnion areas.
B. The right to grant zuch easements for utility services, drainage, pedestrian and vehicular traffic, or otherwise, as
rriay Ito considered by tha Davloper desirable for ilia use of such utility service, drainage, peefesirian and vehicular arress Io
other prepedles of Developer adjacent or contiguous theroio, In conjunction with the reservalfon ns aforesaid, Developer
hereby expressly raserves a perpoluat easement over all driveways and perking areas constitutln a part of the common areas,
plus such additional area as may be naoded to connect said driveways and parking areas with (lie buundaries of the
development, the location of which may he chosen by the Developer for use In connection with the unit owners and other who
may be likely using said driveways and parking arras, for access to all adjacent and nearby property now or hereafter owned
by Developer, The nesoment as reserved herein shall be considered and casement appurtenant to sold proporly and all
Portions thereof and to run with said property and all portions thereof.
ARTICLE XXIiI
RIGHTS RESERVED UNTO LENDERS
As long as any Lender shall hold any mortgage or lien upon any unit or tlnits, or shall he the owner of any unit or units,
such Lender shall Dave the following rights:
A. To approve the company or companies with which casualty Insurance is placed,
13, To examine, upon request and Bit reasonable times and upon reasonable notice, the boobs and records of ttie
As5ool8llori. and to be furnished of least one cgpy of [tie annual audited finaticial stalarnent and report of the Assoclatlan
prepared by a Certified Pu llc Accountant designated by the Association,
C. To he given written notice by the Association of the colt of any meating of the membership, which notice shall state
ilia purposes of such tneating; and to designate a representative to attend,
n. To be given written notice of dofnult by any fawner owning a unit emcumborod by a mortgage or lien held by the
Lender, such notice to be sent to the piece which the sold Lender may designato In writing.
E, To be given wrltfen notice of any loss to or hiking of the common areas of the Condominium If such loss or taking
oxcpoos $10,000 or foliage to a condominium unit in ext.ess of $$1,000,
F, To receive written notice of any condemnation or emminent domain proceeding or proposed acquisillon he o
crindemning authority.
G, To rec@Iva written ri UGU of delinquency In the payment of assessments by et unit owner which remains unpaid for a
pwiod orsixty (60) days.
H. To receives written notice of ony lapse, cancellation of material Modification of any Insurance policy or fidelity Eland
malrilained by Ilia Association.
Whenever the Lender desires the provlslons of this Article to be applicable to It, it shall servo written notloe of such foot
upon the Association by Registered or Certified h4all addressed Io tiles Associatlon Identifying the unit or units upon which such
Lender holds any mortgage, or identifying any units owned by It, together with sufficient facts to identify such mortgage, and
such notice shall designate the place to which notices are to bO given by the Association to such Lender,
ARTICLE XXIV
RIGHT OF DEVELOPER TO REPRESENTATION
ON BOARD OF DIRECTORS OF THE ASSOCIATION
5o long as Developer owns fifty percent (50%) of the total units In the Condominium, but In any event no longer than
April 1, 1987, Davolopor shall move the right to designate and select a majority of the persons who shall serve as members of
the Board of Directors of the Association,
In the evont of dissolution of developer at the time when It is the owner of a unit or units, then the rights of the Developer
shall pass to and may be exercised by Its sucaessots receiving ownership of any such unit or units,
Wheanevor the Developor shall be entitied to designate and select any person to serve on the Board of Directors, the
manner in which such person shall be designated shall be os provided in the Arlicles of Incorporation endior Byiayes of the
Association, and Developer shall have the right to removo any parsons selected by it to act and serve on said Board of
Directors and to replace such person with onother person to art and serve In the place of any Director so removed for the
remainder of the unexpired term of any Director so removed. Any Director designated and selected by Developer need not be
a redden► in the Condominium, lJowever, Developer shall be responsible for the payment of :any assessment which may be
levied by the Association against any unit or units owned by the said Developer; and for complying with the remaining forms
and provisions hereof In Ilia same manner as ony Bather owner of a unit or unite.
NEXT PAGE

ARTICLE XXV
MISCELLANEOUS PROVISiONS
A. The owners of the candominium units shalt not be deemed to own the utidecoraled andlor unfinished surfaces of the
perimeter walls, floors and ceilings surrounding their respective conorninium units, not shall the unit owners be deemed to own
pipes, wires, conduits or 0111er public utility lines running ilireatrgii said respective traits which are utilized for or serve niare than
v unit, wfiicta Items are♦ hereby made a part of Ilia common areas. Each unit owner, however, shall be deemed to own ilia
i , andlor balcony which is a part of his unit, the walls and partitions which are contained in said unit owner'r, unit, and shall
also be deemed to own the Inner der -crated or finished surfaces of tine perimeter w0115, floors and ceilings, including plaster,
paint, wallpaper, etc. All load -bearing walls, subftooring, flooriaints and ather flooring. componeanis other than ilia finished
surface of all (tours in each unit, and ilia roof of each building are deemed to be common areas,
B. The owner of a unlit shall have an easurnent for ingress grid egress over suvIi streets, walks and other rights-of-wy
serving the unitg within the Condominium as a part of the common areas as may be necessary to provido reasonable access
to said public ways, and such casement shall extend to file invitees and licenses of said unit owoor, In the event that any of
said easements for ingress and egress shall be a nuumbered by any leasehold or lien other Ilian those on the condominium
units, such leaseholds or lions shall hereby be suborOnate to the use rights of any unit owner or owners whose unit is not also
encumbered by sold leasehold or lien.
C, The property is subject to all matters of record anti the rights of the Unitod States of America, the State of North Carolina,
and any govarnmenlnl authority or agency havir+g jurisdiction over same; and the Developer hereby reservas unto Itsell, its
sut7cerssors and assigns, such easements as it determines In its sole discretion, may be necessaiy for use by any such
governmental authority or agency In tine exercise of Its jurisdiction,
Q. Leas;ing or renting of a Unit is not prohibilod.
E= For the purpo8es of ad valorem taxation, the Interests of ilia unit owner In his unit acid ilia common areas attributable
thereto shall be considered a unit, The value of said unit shall be actual to the percentage of the value of the entire
Condominium, including land and Improvements. as has been assigned to said unit as set forth in the Qeclaralion, They tol€rl of
till said parpeltlr?des equals 10W/n of the value of all the land and improvements thereon.
The owner of each unit shall be responsible for listing tho same for the purpose of ad valorem taxes Willa the Tax
Supervisor or other such furule legally authorized governmental office ear authority having iusrisdicllon rver some, slid $81d unit
owoor shall l et responsible for the payment of his taxes.
F, All provisions of this Declaration, and any permitted Amandnients, shall be construed as covenants running with the
land, and at every part (hereof and interest therein, including but not limited to every Unit and the appurle riances thereto, and
every unit owner and occupant of the propert, or any part thereof, or of any Interest !herein, and his heirs, succos>surs and
assigns, shall be bound by ail of the provisions of said Declaration and exhibits attached hereto arld any Amendments hereof,
G. If any of the provisions of this Declaration. the bylaws, they Articles of Incorporation of the Act, or any section, clause,
-isa, word, or Iho application thereof in any circumstance, is held Invalid, the validity of the remainder of this Dealarallon, the
t -�ws, (lie Articles of Incorporation and the Act, and the application of any such provision, suction, clause, phrase, or word, in
other alrournslences, shall not be affected thereby.
H. Whenever notices are required to be sent hereunder, the same may be delivered to unit owners either personally or
by mall, addre�;sed to such unlit owners at their place of residence on file with the Association from time to lirtle. Proof of such
mailing or personal delivery by the Association or any management firm shall be given by the affidavit of the person malling or
personally delivering said Natires. Notices to the Association shall be delivered by mail to tho Serrelriry of the Association, ear
ilia President of tho Assac;iatiom Tito change of Ilia mailing address of any party as specified herein shalt not require an
Amendment to this Declaration.
Notices to the Developer shall be delivered by mail at;
Or, Grover A. Smith
R5 Corp of Ratelght
7409 Falls of Neuse Road
Raloigh, North Carolina
All riuiices shall be deemed and considered sent :when mailed. Any party may change his or its malting address
by written notice, duly receipted for. Notlaes required to be given the personal representative ear a devisee of a deceased
owner May be delivered either personally or by mail to ;such party at his address appearing In the records of the Court wherein
tiie ostato of such doGeaased owner is being administered. The change of tine mailing address of any party, as specified heroin,
shalt not require an Amendment to the Declaraliom
1. Each unli owner rind iho Association shall be governed by and shall comply with this Declaration, the bylaws anti the
Art as It may exist ITom lime to time. Failure to do so shall entitle the Association or any unit owner to recover sums duo rot
damages or injunctive relief Qr both, Such actions may be rriainiained by or against a unit owner or the Assraclallon in a proper
case by or agaitist one or more unit owners, and the prevailing party slitAl be entitled to receive reasonable attor'ney`z fens.
Such relief Shall not be eKclusiva or other remedies provided by law.
J, Whenever the context so requires, Ilia use heroin of any gender shall be deerned to iticluelri ail genders, -:Ind ihea Lisa
herein of the singular shall Include the plural, anti the plural shall Include the.singular. The provisions of the Declaration shsli
be Ilberally construed to effectuate Its purpose of crealing a uniform plan for the operation of the Condominium,
it, Tha captions used in this Declaration and exhibits annexed herato are Inserted solely as a matter of Convenience and
li not be relied upon andlor used In construing the effect or meaning of :any of the text of this Declaration or exhibits
�e enexed harato
L. Where a first mortgagee, by some clrcumslanw, tails to be a first mortgage, but it 15 evident that It Is intended to be a
first mortgage, It shall, nevertheless, for the purpose of this De:ctnration and exhibits annexed, be deorned a first morlgage,

M, Sub)ect to (lie provisions of the Act, the Devoloper specifically disclaims any intent to have made any warranty of
(epresenlation In connection Willi the property or the Gonclorniniurn documents, except as specifiioally set forth therein, and 116
person shall rely upon any warranty or reproseniatlon not so specifically made therein unloss otherwise stated. Common
expenses, taxes or other charges may vary frorn time to tinge and nt1 warranty, guaranty or representalion is made or IntQndeo,
nor moy one be relied upon.
N, The unit owners, by Virtue of their execution of a Purchase Contract andlor acceptance of a deed to their unit, and
parties by virtue of their occupancy of units, thereby approve the foregoing and all of Ilia terms and conditions, duties and
owipations of this Declaration and axhiblls attached hereto,
0. Notwithstanding the fact that the present provisions of the Act are incorporated by reference, the provisions of this
Declaration and exhibits attached hereto shall bra paramount to the Act as to those provisions whore pormissivn varinri s are
permitted, otherwise, (tie previsions of said Act shall prevail anti shall be deemed incorporated therein,
lilt=XT PAQE

ARTICLE XXVI
PERSON To RECEIVE SERVICE- OF PROCESS
W, Paniel Martin, III Is hereby designated to receive sorvieo of process In any action which may be brough against ur ill
relation Io tltlt Condominium, Said person's address and pleae of business Is 1001 Cadge Court, Post Office Boy 867, New
Berl), Narth Carolina 28880,
" OITNESS WHEREOF, the corporate parties hereto have caused this Instrument to be executes In their respective
diorate names by their Presidents/Vice Presidents, attested by their Secralaries/Asststani Secretarles, and their corperMu
.geald to be affixed herein, aft by order of their respective boards of directom, end thtA Individual parties hereto hava hereunto
set their hands and edoptrid as their sr:als typewritten Word "SEAL." appearing t)Wde their names, this the day and year first
abovewrit#en.
ACtt T.O.Ci�(�T N S_

EXHIBIT A
All that cartain Iract or parcel of land lying and being in White Oak Township, Carteret County, North Carolina, being on
l3mjue Banks and more particula.dy described as follows;
Beginning at an Iron pipe in the southern right-of-way line of Coast Guard Road, said iron pipe being 1pcdted In the ea;tarn
3 of Wyndiree Subdivision as shown and delineated on map of record in Map 13oak 15, at Page 06, In the office of tare
.,gister of Deeds of Carteret County, said point also lying in the common .boundary eylej)ded between Section 0100 (now
commonly referred to as Block 50) and Section 410 (now commonly referrd to as Bloch 51) of Emerald Iste by the Sea, as
shown an tlint map of record in Map Book 3, al Pages 34-46 In the office of the Rogislor of Duads of CArtorel County; thence
along with the southern right-of-way line of Coast. Guard road the following courses acid dislances; North 66" 47' Enst 111,21
feat icy a point; North 60" 41' Fast 101,91 feet to a paint, North 591 26' bast 100V feet to a point; North 5911 16' East 86,10
feet to a concrete monument in the southern right-of-way line of Bald Coast Gerard Road, thence South 50 30' East 2,234,06
feet to the high water mark of tho Atlantic Ocean; thence along and wily the high water mark of the Atlantic Ocean In a
southwest«tardly direction on offset course and distance, South 740 30* West 372.66 feet to an iron pipe, said irran pipe
located In (tie common boundaiy ti€le extended between Section 400 (new commonly referred to as Block 60) and Section
4,10 (now commonly referred to as Block 61) of tho said Emerald Isle by the Sea; thence North 50 301 Wes12,143,22 feet to
an iron pipe In the southern right-of-way line of Coast Guard Read, the point of beginning, Said tract consisting of the
westarnrnost 367 teat of Section 400 (now commonly referred to as Block ,rift) of the said tmeraid isle by the Sea, as
extended from the southern right-of-way line of Coast Guard Road southwardly to the high water mark of (lie Atlantic Ocean.
The above -described courses and distances being taken front a rilap entitled "Survey of Vifestern 367 Fret of Block 50,
Carteret County, Emerald Isle, North Carolina, dated 18 December, 1980,." prepared by John Paxon McLean, R.L.S. (L-1934).
As an appurtenance to the above -described tract or parcel of land there exists an easement for ingress, egress and regress
and the Installation, operation and maintenance of ullillies over, across and upon Ihat cartain tract or parcel of land lying and
being in White Oak Townshup, Carteret County, North Carolina, toeing nn Bogue Banks and more parltculatly described as
faltows
BEGINNING at a concrete monument in the southern right-of-way line of Coast Guard Road, said concrete. monument lying
North 661141' E ast 111,21 feet, North 6011411 East 101.91 feet, North 590 26' least 100V feel and North 5V 16' Cast 85,110
feet from a point In the eastern line of Wyndiree Subdivision as shown and delineated on that map of record in Map took 15,
at Pago fib, In the office of the Reglsior of Deeds of Caderot County, said point in the said eastern line of 1Wyndirea
Subdivision also lying in the common boundary extended between Section 400 (now commonly referred to as Mock 50) and
Section 410 (now commonly referred to as Mock 61) of Emerald Isle by the Sea, as shown on that chap of record In Map
Boots 3, at pages 34-45, In the office of the Register of Deeds of Garieret County; thence from tills print of beginning South
'50 30' East 1,2OD,00 feel to a point; thence North 590113' East 137r00 feet to a point; thence North fly" 30' Wesl 1,200.00
et to the southern right -of -Way lint; of Coast Guard Road (said Coast Guard Road having a 60.00 foot right-ot-way); thence
South 690 16' West 137.00 feet to the point of beginning,
For reference. see map entitled "Survey of Western 367 Feet of Block 60, Gedelret County, Emerald Isle, North Carolina,
dated 18 December, 1980," prepared by,lohn Paxon McLean, ti.L.S. (L-1934),
The obhvo-616scrlbed beginning point Is the northeast corner of a tract of land conveyed by bead of Gift Iron Lewis R,
Holding and wife, Carolyn S. Holding to Ravenscroft School, Incorporated by feed of Gift dated the 22nd clay of December,
1980, recorded in Kook 447, at Paige 282, In the office of the Register of Deeds of Carteret County and is the beginning point
of Tract 11 of an Option to Purchase Lana elated December 22, 1980, a Memorandum of Option to purchase Land being
recorded in Book 441, at Page 349, In the office at the Register of Deeds of Cnticlret County.
This easement is made expressly subject to the terms and conditions specified in the Deed or Gist of Easement and Bight of
Way recorded In Book 45, Page 172 in tho office of Register of tetrads of Carteret County,
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EXHIBiT B
Those certain tracis or parcels of land lying and being In White Oak Township, Carteret County, North Carolina, Tieing ore
Bogue Banks and More perticrilerty described as follows-
TRACTi: BEGINNING at a pollen In the common boundary line extended between Section 400 (now commonly referred to as
Block 50) end Socflon 410 (now commonly referred to as Block 61) Of Emerald Isla by the Sera as shown on that map of record
I 'gip Book 3, at Pages 34-45, In the office of the Register of Deeds of Cartereet County, North Carolina, said point of
1.. ,inning being located South 5° 30' East 1569.11 feet from the intersection of.sald uoinnion boundary with the southern
rlghl-of-woy line of Coast Guard Load, THENCE, FROM SAID POINT OF BEGINNING, SO LOCATED, North 5610f?' East
44,39 feet to a point; thence North 49139' East 185.66 feet to a point; thence South 050 30' East 732,01 feet to the High water
mark of (tie Atlantic Ocean; thortcea, along and with the high Water mark of the Atlantic Ocean in a southwesterly direction an
offset course and distance of South 74" 34' West 372,66 feet to an iron p1po, sold Iron pipe located In the common boundary
line extended between the oforementioned Block 50 and Block 51 of the sold Emerald Isle by the Sea; thence, North 05" 30'
Wesl, along and Witt! said common boundary line extended, 574,11 feet to the point of place of beginning.
TRACT 11, BEGINNING at e9 point which is located the following courses and distances from an Iron pipe In the s+outIierri
right-of-way lino of Coast Guard Road, sold iron pipe Ewing located in the eastern line of Wyndlree Subdivision as shown and
delineated on a map of record In Map book 15. rat page 86, In the office or the Registrar of Deeds of Carteret County. North
Carolina; South 05" 30' Fast 501,0 feet along and with then common bouiiaary lino extended between SevtIon 400 (now
commonly know" as Rloi k 50) and Section 410 (now commonly known as Block 51) of Emerald Isle by the Sea, as Shawn on
that map of record In Map Book 3, at pages 34-45 In th office of the Registerof Deeds of Carteret County, and North 84" 30'
East 130.00 feet, THENCE, FROM SAID POINT OF BEGINNING, SO LOCATED, North 134° 30' East 100,00 feet to a point;
lhance, North 051130' West 90.00 feet to a point; thdnce, North 840 30' East 137.00 feet to a point In the western line of that
easerriont and right -of -Way described In Book 453 at Palle 172 in the office of the Register of Deadr> of Carteret County;
thence, along and with Ilia western 11m) of said easement North 050 30' West 107,25 feet to a point; thence, South 850 30,
West 267.00 feet to a point, thence, South 0511 30' Enst 511:26 feet to a point; thence, North 8411 30'West 30,00 feet fo a point;
thnco, Soulh 05130' East 140,00 (eel to the point or place of beginning.
TRACT III: That cartaln non-exclusice3 easement arid right-of-way for ingress, egress and regress and the installation.
maintenance of utilities, more particularly described as follows:
BEGINNING at a concrete monument in the southern right -of -Way line of Coast Guard Load, said concrete monument Eying
North 66142' East 111,21 ie;et, North 601141' East 101,91 feel, North 591126' bast 100,37 feat and North 690 16'East 85JO
feet front a point in the eastern line of Wyndlree Subdivision as shown and delineated on that map of record in Map I3oo�. 15,
at Page 86, In the office of the Register of beeds of Carteret County, paid point in the said eastern line or Wyndtrer+
Subdivision also lying in the common boundary extended between Section 400 (nmv commonly referred to as Block 80) and
F -tion 410 (now commonly referred to as Black 61) of Emerald Isle by the Sea, as shown on that map or record in Meta Book
Rages 34-45, In the office of the Roglster of Deeds of Carteret County, THENCE FROM THIS POINT OF BEGINNING,
South 051130' East 1,200,09 feet la'a point; thence North 59116' East 137:01.3 feel to a point; thence North 05° 30' West
1,200.00 foot to thesouthern right-of-way lineof Coast Guard Road (said Coast Guard road having a 60.00 foot right•of-way);
thence South 59a 161 West 137,00 for-1 to the point of beginning,
For reference, sera map entitled "Survey of Western 367 Feet of Btoctc 50, Carteret County, Emerald Isle, North Carolina dated
16 December, 1980," prepnred by John Maxon McLean, R,L.S. (L-1934),
This easement Is made expressly subject to the terms and conditions specified in the Deed of Gift of Easeltjent and Bight of
Way recordod in Book 453, Page 172 in the office of the Register of Deeds of Carteret County.
TRACT IV: A r;ertain non-exclusive Utility Easement 10 foot in width for tho Installation, maintenance and operation of utility
services, the centerline; of said Utility Easement being More particularly described ras follows:
BEGINNING at a point which is located Ilia following courses and distances from an Iran pipe in the southern right-of-way lint'
of coast Gvarcd Road, sold Iron pipe being located In the eastern line of Wyndtre€a Subdivision as shown and delineated on a
map of record in Map Book 15, at Page 86, In the office of the Register of Deeds of Carlere;t County, North Carolina: South 050
30' Ea-st 301,00 feet along and with the common boundary line extended be tureen Section 400 now comrinon referred ter as
Block 50) and 5eclion 410 (now commonly referred to as Block 64) of E nierald Isle by the Sea, as shown on thdl map or
record in Map kook 3, at pages 34.46 In the office of the Register of Deeds Of Carteret County, and North 841, :30' East 160,00
feet, THENCE, FROM SAID POINT OF BEGINNING SO LOCATED, South 21130' East 186_00 feet to a point; thence, South
441 20' West 152.00 feet to a point; theatre. South 14e' oil' West 25,0 feet to a paint: thence, South 06" 30' East 509,0 feat; and
thence, South 0811 30' fast 134.5 feet to a point In ihd northern line of TRACT I or, described herein:
TRACT V: BEGINNING at a point which Is located the following courses and distances from a point in the eastern line of
Wyndlree Subdivision as shown and delineated on that map of record In Map Book 16, at Page 86, in the office of the: Register
of Deeds of Carteret County, said point In the sald eastern line of Wyndlree $ubdiviatolt also lying in (lie common boundary
extended 00ween Section 400 (now commonly referred to as Muck 50) and Section 410 (now commonly referred to as Block
tit) of Emerald Isle by the Sea, os shown on that "tap of record In Map Book 3, at Pages 34-45, In the office of the Register of
Deeds of Crsrtarel County, Along and witfi thee southern right -of Way line of Coast Guard Read North 66a 42' East 111 <21 feet,
North 60" 41' East 101.91 feet, North 59" 26' Ee;st 100,67 feet, and North 59° 16' East 85.10 first to a point; thence, South 05n
Ea"t 1118.00 fool to the point or place of beginning of Meg tract or parcel of hand herein described, THENCE, FROM SAID
rNT OF BEGINNING, SO LOCATE©, South 59" 161 West 39,50 feet to a point; thence, South 05° 30' East 392.09 feet to
the northern boundary of TRACT I as described herein; these, along end with the norther" boundary of TraPt One, North 490
39' East 43.54 feet to a point; thence, North 05° 30' West 364,05 foot to the point or Once of bec3innfnq,
Tlie above -described traot or parcel of land is conveyed together with a noneKILISIvo e:ascment for Ilia In6tallatlon, operation
and rrialnienonce of utilities, said easement being 10 feet in width, the center-Itne of said easement being thex northern and
western line of said Ifact of parcel of land described herein as Trait V,
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EXHIBIT C
3.
For plat portion of Exhibit C, see plat recorded In Condominium Map Book 161E, at Pages 11-16, In the Office of the
Register of Deods In Carteret County.
Plan portion of Exhibit C attached hereto.
Spec ifc:Wlons potllon of Exhibit C attached herolo.
T PAGE

EXHIBIT D
Oullding A Ownership Building 13 Ownership
Unit
Perc enlatje Unit
Percentage
Number
Numher
101
1.5988
101
1.2574
1.02
115968
102
1.38.23
b3
115082
103
1,3823
104
1,4739
104
1.3823
106
1,4739
105
1.3823
106
1.5088
100
1.RSr4
107
1,5988
201
1.2574
108
1.5682
202
1.3823
109
1,5682
203
1,3823
110
1,6988
204
1.3823
1111
1,5988
205
1,3823
201
115988
206
1.2574
202
115988
301
1.2574
203
1;56B2
3W
1.3623
204
1.4739
303
1,3823
205
1_4739
304
1,3828
206
1,6988
306
1,3823
207
145908
305
1.2574
208
1,5682
209
1.5682
Building O Ownership
210
1.51AM
Unii
Parcenlage
Number
211
1.5988
101
1.2574
301
1,5988
102
1,3823
302
1.5992
103
1,3823
303
1.5682
104
1.3823
304
1.4739
195
1.382�
305
1,4739
106
1.2574
306
1 mas
201
1.3823
�07
1.6988
202
1.3823
308
1 M82
203
1.3823
309
1,5682
204
1,3823
310
1.6988
205
1,3828
311
1,5988
206
1.2574
301
1,2574
302
1.3823
303
1.3823
304
1.3823
305
1.3823
306
1,2574
NEXT PAGE

EXHIBIT i
Building A
Ownership
Building B
awnershIp
Unit Number
Percentage
unit owner
Percentage
101
1.2880
101
1.0129
102
1,288o
102
1.1136
103
1,2633
103
1.1136
104
1,1874
104
1.1136
106
1,1874
105
1,1136
106
1.2880
106
1,0129
107
112880
201
1,0129
108
1.2633
202
111136
109
1,2633
203
1,1136
110
1.2880
204
1.1136
111
1,2880
205
-1.1136
201
1,2880
206
110129
202.
1,2880
301
1,0120
203
1.2683
302
1,1136
204
1,1874
303
1 A 136
206
1,1674
304
I ,1130
206
1.2580
305
1,1136
207
12880
306
1,0129
208
1.2833
209
1,2633
Building G
o mprship
210
1,2886
Unit Number
Percentage
211
1,2880
101
1,0129
301
1,2880
102
1,1136
302
1,28131
103
1,1136
303
1.2633
104
1,1136
304
1.1874
105
1.1136
305
1,1874
106
1,0129
306
12880
201
1:012$
307
1,2880
202
1,1130
300
1,2633
203
11.1136
309
1,2633
204
11M
310
1,2880
205
1,1136
311
1.2880
206
1,0129
301
1.O t 29
302
1,1 136
303
1,1136
304
1.1136
306
1A136
306
1 .01 29
Bmildln0 D
ownership
Unit Nurnb©r
Percentage
101
1,0129
102
1.1IN
103
1.1136
104
1,1136
-105
111136
106
1,M 29
201
1,0129
02
1,1136
203
1,1136
204
1.1136
205
1,1136
206
1.0129
301
1,0120
302
1.1-136
303
1,1136
304
1,1136
305
1,1136
306
1,0129
00.i 0%,
NEXT PAGE

EXHtBir :_
Building A
Ownership
Building C
ownnrshtp
Unit Number
Percentage
Unit Number
Poxcentn0e
1011
1.0783
101
.8481
102
1 W85
102
.9323
103
1.0579
103
.9323
104
,0041
Wit
9323
105
.9941
105
M323
109
1,0783
106
8481
107
1,0783
201
.8481
108
1.05.70
202
.9323
109
1.0579
203
.9323
110
1,0763
204
.9323
111
1,07$3
206
AM
201
1,0783
205
.848-1
202
1,0783
301
.8481
203
1,0579
302
.9323
204
0941
303
.9323
205
9941
304
.9323
206
1.0783
305
_9323
207
1.0783
306
.8481
20B
1.0579
Building t7
Ownership
209
i.067ti
Unit Number
Percentage
210
1.0783
i of
.8481
211
1,0783
102
.9323
301
1,0783
103
9323
3D2
1,783
104
.9323
303
1 M 79
105
.9323
304
.9941
106
.8481
305
,9941
201
.8461
306
1,0783
202
.9323
307
1W83
203
9323
308
1.0 a79
204
.9323
309
1.0579
205
9323
3,10
1,0783
206
B48i
311
110783
301
,8481
30?_
,9323
Building B
Ownership
303
:9323
Unit Number
Percentage
304
9323
101
.8481
305
.9323
102
.9323
306
Il481
103
.9323
104
.9323
Building E
owner5liip
105
.9323
Unil Number
PorcontaOc
106
8481
101
.0481
201
.8481
102
.9323
202
_9323
103
_9323
203
.9323
104
.9323
204
.932.3
105
.9323
205
:9323
106
.6481
2013
8481
201
.8481
3011
.8481
202
.9323
302
9323
203
.9323
303
9323
204
,9323
304
9323
n5
.9323
305
9323
246
.8481
306
.8481
301
.8481
30P
.93? 3
303
,9323
304
9323
305
.9323
306
801
NEX i PAGE

FXHIBI i G
Building A
Unit Number
1011
102
103
-104
105
106
107
108
109
110
111
201
202
203
204
205
f 5�
�07
208
209
210
21,1
301
302
303
304
305
306
007
308
309
310
311
Building 0
Unit Nu( ber
101
102
iO3
104
105
106
201
202
263
204
205
20
301
302
303
304
305
306
Building G
Unit Number
101
102
103
104
105
106
201
202
Ownership
percentage
.9274
.0271t
.9097
.8549
,6549
9274
.9274
M97
.9097
.9274
,0274
.9274
.9274
,a007
A549
,8549
,9274
,9274
M97
€1097
..9274
.9274
.9274
.9275
.9097
_8549
,8549
.9274
,9274
,9097
A097
M74
,9274
[ownership
Percentage
.7294
180113
,8018
.8018
AM
,7294
.7294
.8018
.8018
.8018
,8018
.7294
,7294
.8018
.8018
.801 a
.1 ola
.7294
ownership
Percentage
17294
.6018
.8018
,80m
M18
.7294
.7294
.8018
[wilding D
Unii 14uml)er
101
102
103
104
105
106
201
202
203
204
205
206
301
3p2
303
304
305
306
Building F
Unit Dwnw
101
102
103
104
i05
1(16
201
202
203
204
205
206
301
302
303
304
305
306
Building F
Unii Numbers
101
102
103
104
105
106
201
202
203
204
Loa
206
301
302
303
304
305
306
Ownerrihip
Percentage
,7294
.60,18
.8018
801a
.8018
7294
7204
.8018
'8018
,8018
_8018
.7294
.7294
8018
,801 a
.tl018
.7294
ownershi0
Percentage
,7294
AM
.8018
.13018
;8018
7294
.7294
.8018
.$M
.8018
.8018
.7294
,7294
.8018
'6016
'8018
.8018
:7294
Ownership
Percentage
,7294
,a018
.8018
.8M
AM
.7294
.7294
,8018
,8018
.8618
,8018
.7294
.7294
M18
18018
.13A1 t3
.8018
7294

203
.80,10
204
.6018
205
-8018
200
.7294
301
.7294
302
,8018
303
80.18
304
,8018
305
.80 i $
30B
7294
NEXT PAGE
100,0000%

EXH1131T 1-1
Building A
ownership
Building 0
QwneWilp
Unit Number
Percentage
Unit Number
Perconlogo
101
.8134
101
A398
102
,8134
102
.7034
103
.7979
103
.7034
104
7600
104
.7034
106
.7500
103
.7034
JOB
.8134
106
.6308
107
.8134
201
B308
108
797,9
202
7034
100
7979
203
.7034
110
0134
204
7034
111
8134
205
'7034
201
8134
206
.6398
202
8134
3011
6398
203
7074
302
7034
204
.7500
303
703.4
205
.7500
304
7034
206
.8134
305
70.34
207
.B134
306
,6398
20€1
.7079
209
.7979
Building E
Ownership
210
8134
Unit Number
Percentage
211
.8134
101
6398
301
8134
102
.7034
302
895
103
,7034
303
7979
104
17034
304
.7500
105
7034
305
.7500
106
6398
306
18134
201
.6396
307
.8134
202
.7034
308
7979
203
.7034
309
.7979
204
7034
310
;8134
205
.7034
311
.8134
206
6398
301
.6398
Building B
Ownemlilp
302
.7034
Unit Numbers
Percentage
303
-7034
101
'6398
304
.7034
-102
.7034
305
.7034
103
_7034
306
.6398
104
.7034
106
.7034
Bulldincg F
ownership
106
.ti'.;i90
Unit lumber
Percentage
201
.6398
101
6398
202
7034
102
.7034
203
.7034
103
.7034
204
3034
104
7034
205
7034
105
,7034
206
.6398
106
,6398
301
6398
201
,6391
302
.7034
202
7034
303
7034
203
.7034
804
.1034
204
.7034
305
.1034
205
.7034
306
;6398
20B
.6398
301
.6398
Building C
Ownership
302
.7031
Unit Numbers
Percentage
303
.7034
101
.6398
304
7034
102
.1034
105
.7034
101.1
7034
30
.6398
104
,7034
106
7034
Buildlnn G
Ownership
106
,6898
Unit Number
peevertlage
201
,6398
101
6398
7n1l
70,)A
1no
WVIA

4u},
203
, i -u ,
.7034
3 W-
103
1. u-.
.7034
204
7034
104
,7034
205
.7034
105
.7034
206
,6398
'106
6398
301
.6398
201
6398
302
7034
202
7034
303
7034
203
,7034
304
.7034
204
7034
305
7034
205
7034
306
M98
206
6398
301
6398
302
7034
303
.7034
304
.7034
305
7034
3nfs
6398
100.0000%
NEXT PAGE

. X"IBI7
Molding A
Ownership
Building E
Ownership
Unit Nt mbur
Percentage
Unit Number
percenlage
101
.7246
igj
5699
102
.7246
102
.6264
103
7107
103
:6264
104
6679
104
k264
105
0679
'104
.6264
'106
7246
106
.5699
107
.7246
201
5699
IDS
., 7107
202
.6264
109
.7107
203
.6264
110
7246
204
.6264
i11
.7246
205
.6264
201
7246
200
.5699
202
,7246
3011
,6699
2.03
.7107
302
.6264
204
.6679
303
6264
205
.6679
304
;5264
206
3246
30.5
.6264
207
.7246
300
M99
208
.7107
209
.7107
Building F
Ownership
210
.7246
Unit Number
Percentaga
211
17246
101
.5609
301
.7246
102
.6264
302
.7247
1Q3
.6264
303
7107
104
,6264
304
.6619
105
.6264
305
.6679
106
.5699
306
7246
201
.5699
307
7246
202
.6264
30B
7107
203
6264
$09
7107
204
.926
310
7246
205
6264
311
7246
205
.5899
3r)1
,5699
Building B
UwnorshIp
302
,6264
Unit Numbers
Percentage
303
C>264
101
'5699
304
.6264
102
.6264
305
6264
103
6264
306
.5699
104
6264
Building G
Ownership
105
6264
Unit Number
Percentage
106
,5699
101
.6699
201
_5699
102
.6264
202
.6.264
103
;6264
203
.6264
104
6264
204
.6264
106
6264
205
.6264
105
.5699
206
.5699
201
.5699
301
.5699
202
6264
302
6264
203
.6264
303
.6264
2o4
.6264
304
.6264
205
.6264
305
6264
206
.5699
306
.5699
301
,5699
302
.6264
Bulldinp U
Qwner-ship
303
.6264
Unit Numbers
PercentaciiE�
304
.6264
101
,5699
305
6264
102
,6264
306
•6699
103
6264
104
6264
Building Fl
Ownership
1105
AV64
Unit Number
Percontagf.-
106
.5699
I M
.5699
201
.6699
102
.6264
')II?
1;7r,,d
i nIA
R,?R4

w. i+�
203
v�
.6264
iNl.r
104
.V44t
.0264
204
.6264
105
.6264
205
0264
106
.5699
206
.5699
201
.5699
301
.5690
202
.6264
302
.6264
203
.6264
303
6264
204
.6264
304
6264
205
.6264
305
.6264
206
5669
306
,5099
301
15699
302
.62.64
Building a
ownsrmillp
303
6264
Unit Number
Percentage
304
6264
1(11
,5699
305
'6264
102
.6264
306
.5699
103
.6264
104
.6264
106
.6264
106
.5609
201
.5699
202
6264
M
6264
204
.6264
205
6264
206
,5699
301
.5699
302
.G264
303
.6294
304
6264
305
-6264
306
.5699
100.0000%
NEXT € AGE

EXHIBIT J
Building A
Ownership
Unit Number
Percantago
1M
,G530
'102
.6530
'103
G466
104
.GG20
106
,6020
106
.6530
101
6530
108
6406
109
64QG
114
6530
1 i 1
.6530
201
'6530
202
.6530
203
.6406
204
.6020
205
.6020
206
.t?530
207
,6530
208
,6 06
208
.6406
210
,C530
211
6530
301
.6530
302
,6i528
303
.6406
304
M20
305
6020
306
6530
.307
.6530
308
.6406
300
J)"Wo
:310
'6630
31.1
.G520
Building B
Ownership
Unit Number
Percentarlo
101
5137
102
.5647
10;3
5647
104
.6647
105
.5647
106
.6137
201
.5137
202
5647
203
5647
204
6047
205
5647
206
.5137
301
.5137
302
_5647
303
.5647
304
5547
305
.56s47
306
.5137
Building Ca
owner -Shim
Unit Number
Percentage
101
.5137
'102
+5647
103
.6647
1104
.5647
105
.5647
106
-5137
201
.5137
202
5647
gni
rird7
Building E
Ownership
Unit Number
Percentage
101
6137
102
.5647
103
.5647
104
.5647
105
.5547
100
5137
201
.5137
202
5641
203
.5647
204
.5647
205
M47
206
5137
301
.5137
302
.5647
303
.5047
304
.6647
305
.5647
306
.5137
Building F
Ownership
Unit Nunibei
Perc:entagn
101
.5137
1025647
103
,5647
104
.5647
'105
.5647
10s
.5137
201
.5137
242
.5647
203
.5547
204
.5647
205
.5647
2U6
.5137
301
.5137
302
,5647
303
5647
304
5647
305
.,5647
306
.5137
Building G
Ownership
Unit Number
Pbrce:ntage
101
_5137
102
.5647
103
5647
104
56547
105
.6647
106
5137
201
5137
202
.5647
203
,5647
204
.5647
205
-6647
206
..5137
301
'5137
302
,15547
303
4647
304
.5647
305
.5547
306
5137
Building H
Ownership
Unit Number
pereenlage
101
$137
1 rl?
c;fW

204
.5647
103
.5647
206
.5647
104
.5647
206
.5137
105
5647
301
5137
106
.5137
302
.5647
201
.6137
303
.5647
202
'6647
304
5547
203
.5647
305
.5647
204
,5647
306
'5137
205
.5647
206
.5137
Building b
Ownership
301
.5137
Unil Number
Percentage
302
:5647
1011
.>137
303
.5647
1 tl2
.5647
304
.5047
103
.6647
305
5647
104
5647
306
.5137
1U5
.5647
106
.5137
Building I
Ownership
201
.5137
Unit Number
percetltage
202
.6647
141
.5137
203
.5547
102
.5647
204
.6647
103
.6647
206
,5M7
104
5647
206
.5137
105
.5647
301
.5137
106
5137
302
5647
201
.5137
363
,6fi47
202
.5647
304
5647
203
.5647
305
.5647
204
.6647
306
.6137
205
.5647
206
.5137
301
_5137
302
.5647
303
.5647
304
5647
305
.5647
100.0900%
306
6137
BACK 0 QQNTENTS

AMENDMENT TO DECLARATION
OF UNIT OWNERSHIP OF POINT
EMERALD VILLAS CONDOMINIUM,
PHASE I
THIS AMENDMENT TO DECLARATION OF UNIT OWNERSHIP OF POINT EMERALD VILLAS
IDOMINIUNI, PHASE I, (hereinafter "Amendment"), effective this day of 1983, by IRS CORP, OF RALEIGH,
Iv., th Caarolina. Corporation (hereinafter r0lerred to as the "Developer'"); the UNIT OWNERS or the Condorninluni UnIN within
Point r--merald Villas Condorninlurn, Phase I (hereinafter referred to as "Unit Owners"); and all LENDERS holding deeds of
trust, molt arms or liens upon any urill or units within Point Emerald Villas Condominium, Phase 1, (hereinafter referred to as
" Lenders" .. and, the TRUSTIES for all Lenders.
WITNESSETH:
WHEREAS, the Developer Is the owner of a certain tract or parcel of land lying and being sltuato in White Oak
Township, Carteret Counly, North Carolina, toeing on Bogue Banks, said tract or parcel of Innd being more particularly
described In Exhibit A as attached to the DECLARATION OF UNIT OWNERSHIP OF POINT EMERALD VILLAS
CONDOMINIUM, PHASE 1, saving and excepting that (tact or parcel of land more particularly described in Exhibit R as
attached to the said DECLARATION OF UNIT OWNERSHIP OF POINT EMERALD VILLAS CONDOMINIUM, PHASE l; and,
WHEREAS. ilia developer has caused to lie recorded that codain DECLARATION OF UNIT OWNERSHII:)
OF POINT EMERALD VILLAS CONDOMINIUM, PHASE I (hereaflar called [lie "Declaration") whedn the Developer submitted
the property described In Exhibit B in said Declaration to the provisions of Chapter 47A of the North Carolina Gansral Statutes,
as amended; arid.
WHEREAS, the Developer reserved In said Daclarallon the right to amend Ilia Declaration to Incorporate Into
tilt: Condaqrinium all the land descrlbed In Exhibit A as eitached to said De0aration ,:ind c onstruut additional dwelling units
upon salt) land as described in Exhibit A o! said Declaralion; arid,
WHEREAS, the Developer has elected to alter the plan ❑f development of the addillonal phaso of the
Condominium as set forth in the Declaration and said plan of development, as aniende3d, has been unanimously approved by
the Unit Owners represented at the annual meeting of the Point Emerald Villas Association, Inc.. which was hell ern the first
Salurdey nd March, 1983; and,
WHEREAS, pursuant to the De Oarajion and the provisions at Chapter 47A of the North Gwolina General
Statutes, as amended, the Unit fawners, Landers and the Trustees for all Lenders have joined in the execution of this
Amendment.
NOW, THEREFORE, the developer hereby submits to lieu provisions of Chapter 47A of the North Gamllno
General Statutes, as amended, and (lie provisions of the Declaration, the tract or parcel of land mare particularly doncribod In
" hibil A of Ilia Declaratlon,.not previously described in Exhibit B of the Doclarntlon, together with all Improvements
strtaclad or to be a onstucled thereon, together with all appurtenances thereto, and hereby publishes its plan as to ilia;
improvements to be construc:led thereon, all subject to the provisions as contained in Hie, Declaration which shall runt with the
land and shall bind and inure to the benefit of all subsequent owners of any Interest In the Rind so commlited to the Unit
Ownership Act, their heirs, succossars and assigns.
AMENDMENTS TO ARTICLE I OF THE DECLARATION
The last paragraph of Artianle. I of the Declaration is deleted. The following) is hereby added to Article I of the
Declaration,.
The Developer does lioreby submit, the property more particularly described on Exhibit A of the Declaration not
previously set forth and described In E xhlbIt B of the Declaration, dnd they Improvements located thereon and Iniproverrionts
which may in the- future be located thereon to Condominium Ownership tender the provisions of Chapter 47A of the North
Carolina General Statutes, as amended, and hereby de ckwes ttie same to be incorporated into and a part of lhe- Condorninii_irn
to be known and identitied as "POINT EMERALD VILLAS CONDOMINIUM", -said ecdillonal property to contain sixy (GU) living
units, (half supportive facilities anti other pertinent improverrrenis and to be known as POINT EMERALD VILLAS
CONDOMINIUM, PHASE ll,
POINT EMERALD VILLAS CONDOMINIUM, PRASE 11, is the final phase to be created by (lie Developer and
rtevelopOd under ilia Declaration and encompasses all of the property described in Exhibit A as set forth in (lie DoclarOon riot
previously Included In the Condominium, No additional phases of the Condominium will bo dedicated pursuant to Ilia
Declaration. The operation and administration of POINT EMERALD VILLAS CONDOMINIUM, PHASE It, shall be untrusted (v
the nonproft cotporation known as point Emerald Villas Association, Inc, as sat forth in the Declaration, they Articles of
Incorporation and Bylaws of the Point Emerald Villas Association, Inc.
POINT EMERALD VILLAS CONDOMINiUM, PHSE 11, consists of two buildings., Building "D" containing
thirty-six (30) units and Building "E" containing twenty-four (24), Ills style, size and design of which is moro portioulariy set forth
in the pints end plans attached to this Amendment and incorporated herein by reference.
NEXT PAGE

AMENDMENT TO ARTICLE li OF THE DECLARATION
Paragraph I of Article 11 of lho Declaration Is deleted ant) inserted in lieu the;regf Is the following,
"Condominium" shall mean the property as dsscrlbed on Exhibit A of the Declaration and dollnented on the
pldls and plaits Attached to ili© Declaration as a portion of Exhibit C of the Decimation and the plats and plans attached to Ihis
Aniondment,
AMENDMENT TO ARTICLE III OF THE DECLARATION
Article tit of ilia Declaration is deleted and substituted In lieu thereof Is the following:
The name by which the Condominium Is to be Identified shall be "POINT EMERALD VILLAS CONDOMINIUM",
sold Condominium to consist of Phase I and Phase 11,
AMENDMENT TO ARTICLE IV OF THE DECLARATION
Article IV of the Declaration Is amended to add the following.
POINT EMERALD VILLAS CONDOMINIUM, PHASE 11, contains Building D and Building E located as shown
on I.he site plates attached hereto as a part of Exhibit C of the Amendment. Each building has thrue (3) stories. Building D
contains lhirty-six (36) units and Building E contains eighteen (1 d) units, Tha approximate area and configuration of each unit
in Building D and Building E is shown on the plat and plant attached hereto and incorporated as a part of Exhibit C of the
Declaration.
Building D and 1301ding I; are "stick built" wood frame construnlion, the exterior of vlhirh consists of ceder
lapped board siding and asphalt shingled and rtmeenhraned roof, The interiors of the units shall be constructed of sheetrock
with wallpaper and vinyl land "reeled floors.
AMENDMENT TO ARTICLE_ V OF THE DECLAMATION
Article V of the Declaration Is amended so as to deloto the last paragraph of said Article
AMENDMENTS TO EXHIBITS OF DECLARATION
Exhibit B of Iho Declaration is hereby deleted and Exhibit A of the Declaration constitutes all of the tracts or
parcels of land dedicated to the provisions of Cliapler 47A df the North Carolina General Slalutey, as amended, and ihe
boclarallon, as hereby amended.
Exhibit C of tho Declaration is amended to incorporate Into and add to said Exhibit the (1) plat recorded In
Condorn-Inium Map Boole at Pages ... , In the office of the Register of Deeds of Carteret County,; (2) the plans depin ing
Building D and Building E attached hereto and incorporated herein by reference, and (3) the of Building D and
Building E as attached hereto and incorporated herein by reference.
Exhibits D, E, F, G, H, I and J of the declaration as hereby deleted and substituted in lieu thereof is Naw Exhibit
D which attached hereto and Incorporated herein by reference. All references In the Declaration to Exhibit D shall Lie
Inated and substituted in they place and .stead of the words "Exhibit D" shall be the words "Now Exhibit W.
PURPOSE AND EFFECT OF AMENDMENT
The purpose of this Amendment Is to submit the tract or parcel of land desmlbed In Exhibit A of the Declaration
to the provisions of Chapter 47A of the North Carolina General Statutes, as amended, and the plan and purposes as more
particularly set forth in the 0"Iaration. Furthof, this Amendment is intended to permit POINT EMERALD VILLAS
CONDOMINIUM, PHASI 11, to be constructed according to the plans and specifications attached hewre(o lnliey of the initially
proposed plans and specifications for the: additional phase or phases to be devetopod as originally set forth in the Declaration.
In the ovent this Arrlandale3nt contains matters which may bey Construed to be inconsistent with hie plan of development, except
as herein amended, the organization, the provisions5, lho restrictions and the opwation of the Condominium as niore
particularly set forth in the Declaration, such Inconsistency shall be controlled by the provisions of ilia Declaration and thei
genera) Intent of this Amendment.
IN TESTIMONY WHEREOF, the corporate padlos. hereto have caused this instrument to be executed utewd in theer
respective corporate names by their Pre3sidentsNiGe--Presidents, attested by their SecretarloslAssistant Secretartes/Cashldrs,
and their corporate seals to be affixed hereto, all by order of their respective Boards of Directors; the Individual parties have
heraunto set tholr hands aril adopted as their seals the typewritten vrord "SEAL" appearing baslde their navies; thr3
partnership parties hereto have Caused this Instrument to be vxecute3d In their respective partnorship name and adopted as the
seal of their partnership the typewritten ward "SEAL" appearing beside their respective partnership names and a general
portraejr of each parinershtrp party has hereunto set his hand and adopted as hit, seal they typewritten "SEAL_„ appearing beside.
his nanie; end the Individual Trustees havr3 Oxacuted this Instrumr3ni in their capacity as Trurytee and have hereunto set their
hands and adopted as their seats lire typewritten weird "S5AL" appearing beside their names, all the day and year hereineher
writion.
NEXT PAGE

NEW EXHIBIT 0
1301dino A
Ownership
Building D
Ownership
Unit Number
Percentage
Unit Number
Percenlage
101
.8488
101
_7824
102
.8488
'102
7824
103
.8326
103
.7824
104
.7824
104
1824
106
.7824
105
.7338
106
.8488
1116
:7338
107
.8488
107
.7824
'108
.8325
108
.7824
106
.8325
109
.7824
'i iD
8488
i 1Q
.7824
111
8488
ill
.7824
201
8488
112
.782'4
2.62
.8488
201
8325
203
8325
202
3824
204
17824
203
.7824
205
3824
204
.7824
200
•8488
205
.7338
207
.8488
206
.7338
208
18325
207
.7824
209
8325
208
.7824
210
_a48e
209
.7824
211
.8M
210
'?m
301
.8488
211
7824
3p2
.8480
212
.8325
303
A325
301
8325
304
.7824
302
8325
305
.7824
303
.8325
306
.8488
304
.8325
307
.8488
305
7338
308
.8325
306
7338
309
,8325
307
.7624
310
.8488
308
.7824
311
18488
309
.7824
TOTAL
27.4654
310
.7824
Ruildin013
Ownership
311
.7824
Unit Number
Percentage
312
.8325
101
.6675
TOTAL
M2256
102
,73313
Bulding E
Ownership
103
.7338
Unit Number
Percentage
104
'7338
1011
>7824
105
.7338
102
.7824
106
.6675
103
.7824
201
.6675
-104
.7824
202
.7338
105
.7338
203
.7338
1 0(i
1338
2.04
7338
107
1338
205
.7338
108
.7338
206
6675
201
.8325
361
.6675
202
_7824
302
.7338
203
7824
303
.7338
204
.7824
304
7338
205
.7824
305
,7338
206
.7338
306
6675
207
.7338
TOTAL
12.8106
208
7338
Building C
Ownership
301
.8325
Unit Number
Percentage
302
8325
101
,6675
303
.8325
02
,7338
304
8325
103
,7338
305
.7824
104
,7338
305
7824
105
.7338
307
_7824
1 t3G
6675
308
.7824
201
.6676
TOTAL
18.6879
?n?
7338

203
:7338
204
7338
205
.7338
206
.6i675
301
.6i675
302
_7338
303
,7338
304
7338
30
.7338
30^00
,6�ar v
TOTAL
12.8106
Total All Buildings 1100.0000%
BACK TO CONTENTS

SECONi] AMENDMENT T
O DECLARATION Oi' UEVIT OWNERSHIP OF
POINT EMERALD VILLAS CONDOMINIUM
THIS SECOND AMENDMENT TO DECLARATION OF UNIT OWNERSHIP OF POINT EMERALD VILLAS
CONDOMINIUM, (hereinafier "Amendment'), effective this 3rd day of March, 1084,
WITNESSETH:
WHEREAS, on or about February 10, 1084, the Board of Directors of Point Emerald Villas Association, inc,
("Assoclatio"), aciing upon o vote of -all or:aaid directors, propsed in writing a certain amendment to the Declaration of Unit
Ownership of Point Emerald Villas Condominium ("Declaration"), and,
WHEREAS, said amerielrtient was transmitted to the President of the Association rand A notice of meetino of
Uie menabors of the Association was given to oath member as required in Article XIX of the declaration; and.
WHEREAS, at Bald meeting the proposed amendment was approved by on affirmative vole of seventy -live
porrent � C%) of Clio members owning traits In the Condominium, sold meeting being held Marcie 3, 1984.
NOW, THEREFORE, be It horeby known tflat Article XIV, Section C of the Declaration of Unit Ownership of
Paint Emerald Villas Condominium Is amended to change the fiscal year of the Associntiun from the periad begInning January
i of e-ach year to Moy 1 of each year, beginning May 1, 1984.
IN TESTIMONY WHEREOF, the undersigned President and Secretary of Paint Etnereld Villas Association, Inc.
do certify that this Amendment has taet-n duly adopted pursuant to the provisions of Article XIX, Section B of the Declaration of
Unit Ownership of Paint Emerald Villas Condominium, and said President and Secretary, have hereunto set their hands and
adopted as their peals the typewrillen Word "SEAT." oppearintg beside their name, all elfeative the 3rd day of Moro, 1984.
BACK M L;ONTE T6

CERTIFIED COPY OF CORPORATE RESOLUTION
OF
POINT EMERALD VILLAS ASSOCIATION, INC.
I hereby certify that I am the duly elected and qualified Secretary of PolnI Ernerald Villas Association, Inc., a
corporation organized and existing under Ilse laws of the State of North Carolina; that the following is a true copy of the
rr `-Itions duty adopted by the Boa(d of Directors o the said corporat.iorl effective the 3rd day of March, 199.1; and the such
r utlons are in full force and affect and have trot been amender) Or rescinded;
RESOLVED, that the following amendments to the Bylaws of the Association are adopted and approved;
1: Amendment to Article IV, Section B, Paragraph 5 of the Bylaws to delete the wards "exhibits 1), F, F. O,
H. I or J, whichever Is titan In effect, of the Deolarallon" to substltuto In lieu thereof of the wording "the
Declarafion and the various amendments !hereto",
2, Amendment to Article VI, Section 11 of the Bylaws to change the fiscal year of the Association frorn the
period beginning January i of each year to May 1 of each year, beginning May 1, 1984; and
3. Amendment to Article VI, Section 13 of the Bylaws to provide Ihat copies of the Association's proposed
budget and proposed assessments by transmilled to each Assaciatloo member by the 1st stay of March
prior to each fiscal year for which !tie budget is proposed, effective for each fiscal year turn muncing on
or after May 1, 1995.
IN WITNESS WHEREOF, I have hereunto set ir)y hand cis Secretary and have caused the Corporale Seal of
said corporation to be affixed hereto, this the 19 day of March, 19K
SACK TO CONTENTS

Hr--ARING Pi=iOCEt URES FOR
POINT Ffvt1=RALD VILLAS. ASSOCIATION, INC.
(revised October 6, 1989J
$ecton 1. Definition$.
(A) "Association" sltall mean Point Emerald Villas Association, Inc.
(13) "Asaociallon Documents" shall rnean and include the Declaration of Unit Ownership of Point Emerald Villro5
GO10rnlnlulTe, the amendments thereto, the Bylaws of the Association, tho Articles of Incorporation of ilia Associallon and file
Rules and Regulations ns adopted from time to limo by ties Association through Its Board of Diroctors,
Unless the cotext clearly Indicates to the contrary, rather terms as set forth in these hDaring procedures shall
have the some meanings as set forth In the Association Documanis.
Section 2, Hearing Required, The Board of Directors of the Association shall not Impose a tine or penalty,
undertake permitted remedial action, suspend voting or Infringe upon other rights of an Owner or Occupant for violations of the
Association Documents unlass and until said Owner or Occupant shall be given tfae Opportunity Or a baBring.
Section 3, Demand. Written dompind to cease and desist from an oftod viotation shall be served upon the
alleged viotator and the Owner of the Unit being occuplas by the alleged violator specifying (l) tile alleged violation; (II) the
action requlred to abate the violations, and (tti) a time period during which tho violation may be' abated without firthea penclion, if
such violation €s a continuing one, or a statement that nny firlhar violation may result in the Imposition of a sanction after notice
of hearfnp If the violaticn'Is not continuing.
Section 4. Notice. At any time within twelve (12) months following such demand, it the violation acunilnues
past the period allowed in ilia demand for abalemenl without ponalty or If the some rule Is subsequently violated, the Board or
its delegate shall serve the alleged violator and the Owner or the Unit being occupled by the allogvd violator with a written
notice of a hearing to be meld by the Grtavanee Corornittee in executive session, The notloe shall contain (I) Me nature of the
alleged violation; (€1) the tirne and place of the hearing, which shall not be less than five (5) days from the givingof the notice;
(iii) an invitation to attend the meeting and produce any slatpmant, ovidenc:e anti witness on his behalf; and (lv) the peopowl
sanction to be imposed,
The notice prescribed herein may be served by placing a copy of said nolloe in the United States mail, postage
propaitl, addressed to the alleged violator at his last known address and to the Owners of the Unit at the addres as provided by
said Owner to the AssocWion; by any method as permitted for the service of summons as sat forth in We 4 of the North
Carolina Mules of Civil Procedure; or, by the delivery Qf said notice by any officer, director or agent of the Association to the
alleged violator and Owner or any person permitted to ba served on the behalf of either as permitted by the s ald Rule 4.
Section 5. Hearing. The hearing shall be held in executive sesslon of the Grievance Committee pursuant to
i,_~- riatice affording the alleged violater and Owner of the Unit occupied by the alleged violator a reasonable opportunity to be
rd and to prosent evidence. The Or'lovanco Committee may glue oral notice of Its. decision to tine alleged violator and
Owner at the hearing or serve with notice: of its deolsion to tho alleged violator and Owner within ten (15) days following the
hearing. Written notice of the decision shall be; served in the same manner as the naltco of hoaring.
Prir)r to tite effectiveness of any sanction hereunder, proof of notice and the invitation to be heard shall be
placed in the minutes of Ilia meeting, Such proof shall be deeded adequate to a copy of the notice, together with a statonlent
of the state and manner of dollvery, is entered by the officer, director or agent who delivered such notice, The nollse
requirement shall be doomed satisfied if the Person(s) to whom notice was given appears at the meeting, The nrinulbs of ilia
meeting shall contain -a written statement of the results of the hearing and the sanctfen, if any, Imposed,
Section 6, Appeal, Following a hearing before the Grievance? Committee, the Person(s) upon whom aline,
sat►otion or other pranally is imposed shall have this right to appeal the dec►sign to tite Board of Directors, To porfect this right,
a written notices of appeal must be received by the Manager, President or Secretary of they Association withlo thirty (30) clays
following the hearing date, said written notice to contain Information by which the Board of Direotors may notify the ailecgpd
violator of the date of the appeall hearing,
BACKTO CONTENTS

EXHIBIT L
BYLAWS
OF
POINT EMERALD VILLAS ASSOCIATION, INC.
ARTICLE I
IDENTITY AND APPLICABILITY
A. These are the Bylaws of Polnt Emerald Vistas Assoolaliort, Inc„ a non-profil corporalian under the lvis of
kilo Stale of Norlh Carolina (heroin "Association"), it has been organized for the purpose of administering the operation,
managment and maintenance of Poiill Frneraid Villas Condominium, i� serios of condominiums to be established in
accordance with the laws of the State of North Carolina upon tfie toperty situate, lying and being In White Oak Township,
Carteret County, North Cerolina, anti desoribed on Exhibit "N' of the Declaration of Unit Ownership and each subsequent
amendment thereto, and incorporated herein by reference (herein "Condominium"),
B. The provisions of these Bylaws are applicable to the Condominium, and the: terms and provisions hareot
are expressly subject to the terms, provisions, condiditons and authorization contalned In Ilia Articles of Incorporation and in
the [declaration of Unit Ownership which will be recorded in the Register df DeedA of Carteret County, North Carolina, at the
time said property and the Improvements now situated thereon are submitted to the plan of condominium ownership. isle terms
and provisions of said Articles of incorporation and Declaratlon of Unit Ownership to be controlling wherever they may be in
conflict herewith.
C, All present or future owners, lenants, future tefnanlr,, or their employees, or any other person that might
u.se the Condominium or any of the Fatalities thereof in any manner, are subject to the regulations sot fdrlh in these Bylaws and
In said Articles of Incorporation and Declaration of UhIt Ownership.
D_ The office of the Association shall be M such place in North Carolina cis the Board of l3froctors shall
desicgnole from time to time.
ARTICLE Il
MEMBERSHIP, VOTING, QUORUM, PROXIES
A. The qualification of members, the manner of their admission t6 membership and termination of such
membership. and voting by members, shall be as set forth in Article Vl of the Artictes of Incorporation of tho Association, the
provisions of which sold Article Vt of the Articles of Incorporation are Incorporated Herein by reference,
B, A goorum at members'rneetings shalt consist of persons entitled to cast a majority of tell votes of the
0a hire membership, The joinder of a member In the action of a meeting by signing and concurring In the minutes thereof shall
constitute the presence of such person for the purpose of determining the quorum,
C. The vote'of tho owners of a condominlurrr unit owned by i )are loan one person or by a corporation or
or„ur entity shall be Gast by the one person named In the Certificate signed by all of the owners of the condominium unit anti
Hied with the Secretary of the Association, and such cerlifluate shall be valid until revoked by subsequent Cortificale, If such a
Certificate is not on file, the vote of such Owners shall not be considered for any purpose.
D. Votes maybe cast in person or by proxy. Proxies ;shall bo Valid only for the particular meeting designated
thereon and must be filed with the Secretary before the. appointed time of the meeting,
E. Approval ar disapproval of a Unit Owner upon any matter, whether or not the subject of an Association
niaeling, shall be by the same person who would cast the vote od such owner if In an Association maeling,
F. The terms "75% of the members" or'15% of the membership", or ("314" in lieu of 15%") when used in the
context of membership Voting rights, shall mean the owners of at least 750'/6 of the aggregate Interest In the common areas and
far;llitios,
G. Except where otherwise required under the provisions of the Articles of Incorporation of the Associalion,
these Bylaws, the Pe0aration of Unit Ownership, or whether the some may otherwise be required by law, the affirmative vote
of the persons entitled to. cast a majority of the votes at any duly called intmbers' meeting at which a quorum is present shall
be binning upon the Members.
NEXT,PAG

ARTICLE III
ANNUAL AND SPECIAL MEETING OF MEMOERSHIP
A. The Annual Members' Meelido shal he haul at a tine o nd place dosignated by the Beard of Directors on the
first Saturday in March of each year for the purpose of electing Directors and of transacting any other business authorir err to
be transacted by Ilia members,
B. Special Members' Mer dings small be hold whenever called by ilia president or Vtce-Presldenl or by a
jjority of the Beard of Directors and must be called by such officers upon receofst of wrlttun rogvest. tram fnembets of the
Association owning a majority of Ilia cAindominitirri units,
u. Notice of ell members` meetings, regular or special, shall be given by the President, Vice -President or
Secretary of the Association, or otherofflcor of (lie Assnctallon In absence of sold officers, to each rlmetimbOr, runless Waived in
writing, such notice to be written and to state the time and place and purpose for which the niseting Is called, Such notice
-shall be given to each member not foss than ten 0 D) Mays nor more thatl sixty {£p} days prior to the elate set. for such
meeting, which notice shall he mailed or delivered personally to each mornber within said time. If delivered personally,
receipt of such notice shall be signed by the member, Indicating the data tan which such nofioe was received by him, II
mailed, shrill notice Shall be dearned lobe property given when deposited In tho United States Mail addressed to the member
at his post office address as It appears on the Register of Owners of the Association as of the date of such malling such
notice, the postage thereon prepaid. Proof of the mailing small be given by the Affadavit of ilia person giving tho rnetice. Any
member may, by signed written waiver of ndtlee, waive sick nollt c: and, when filed In ilia records of the Association, whether
before or after the holding of the meting, such waiver stroll be deemed equivalent to the giving of notice to the member, If
any members' roeelitng cannot be organized because a quorum hos not attended, or because Ilia greater percentage of the
membership required to constitute a quorum for particular purposes has not attended (wherevdr the latter percentage of
attendance may l)o required as set forth in the Panicles of Inclorporation, these Bylaws or the Declaration of Unit Ownership)
the members who are present, either in person or by proxy, may adjourn the mooting front time to lime until a quorurn, or the
required percentage of attendance, If greater than a quorum, is present,
0, The order of business as far as practical at any members' meeting, shalt be'.
1, Calling of the roll and certifying of proxies;
2. Proof Of trainee of meeting Of waiver of mince;
3, Reading and disposal of any unapproved minutes;
A. Reports of Officers;
5. Reports of Committees;
0, Appointment of Inspectors of Election by Chairman;
7, Unfinished Business;
& New Business, and
9, Adjournment.
NEXT PAGE

ARTICLE IV
BOARD OF DIRECTORS
A, The Initial Board of Directors of ilia Association aria exfi succeeding Board of Directors shall consist of
three (3) party- ns. At least a majority of the Board of Directors shall be members or employees of a corporate inen)t7e► of Iho
Association). Notwithstanding the foregoing, so long as the developer, RS Corp, of R alplgh, a North Carolina corporation
r -iln ,pevaioperh owns [iffy percent (50%) of the total condominium units in feint Emerald Viilas Condvrninlums, but in any
t ,It no longer than April 1,1987, the Developer shall have tho tight to select e majority of the persons who shall serva as
mornbars of each Board of Directors of the Association. Any Director selected by the Developer treed not be a resident in the
i�ondoniinium.
B. Election of Direrfvrs shall be conducted in the following manner:
1. Developer shall, at the bepinning of the election or the Board of Directors, select that number of
the mun)bers of the Beard of Directors wifth It shall be entitled to select In accordance with Ilia provisions
of these Bylaws, and upon such selection of Developer by written instrument presented to the meeting at
which such alect.ion Is hold said individuals so selected by Developer shall be considered Directors of the
Association, and shall thenceforth perform the offices and duties of such Directors until their successors
shall have been elocted In accordance with the provisions of these Bylaws.
2, All mornbers of file Board of Directors whon Developer shall not rota entitled to select under the
terms and provisions of these Bylaws, shall be elected by a plumilty of (lie votes cast at the Annual
Meeting of the members of thu Association immediately following the selection of the members of the
Board of Directors whom Pavelpfier shall be entitled to select,
3, Vacuncies in the Hoard of Directors may be riled until the state of the next Annual Meeting by the
remaining Directors, except that should any vacancy in the Board of Directors be created In any
Directorship previously filled by any person selected by Developer such vocanoy shall he tilled by
Developer selecting, by written Instrument delivered to any Officer of the Association, the successor
Director to fill tho vacated Directorship for the unexpired term tharoof,
4, The lnitial Board of Directors will consist of three members whose names are set forth in the
Articles of Incorporalion. From and after the dale of the first annual meeting of members, there shall be
five Directors. The Initial Board shall serve until their successors al the first Annual Meeting Of members
are elected and quollfy. At tho flrsf Annual Meeting of members, the two (2) candidoles for the Board of
Directors recelving the greatest number of votes shall be elected for a tern) of three (3) years, the two
candidates receiving the next highest number of voles shall be elected for a term of Iwo (2) years, and,
likewise, the candidate receiving the next highest number of votes shall be elected for a lean ref pile (I)
year, At tha expiration of the initial term of each Director, his r3uccassor shall be elected to serve a terra of
two (2) years. Each Director shall hold office until his decilh, resignation, r€3tiremont, removal,
disqualification, or his successor Is elected and qualified. It at the time of Uan first Annual Meriting
Developer awns 50% of the total condominlum units In the Condominium, then Developer shall have the
right to designate and select three (3) Directors, one of which shall serve a term of three (3) years, one
shall serve a terra of two (2) years, and one such Director snaill serve a terin of one (1) year At suah lime
as 0eveioper no longer awns 60% of the total condominium units in the Condominium, then the Board of
Directors shall calla Special Meeting of Ilio me ribershlp to elect supoessor Directors for those originally
selected by Developer, and each such Director so elected shall serve unit) the expiration of the initial i6mi
of each Director selected by Developer, The candidate racelving the lilghest number of votes shall serve
the balance Of If)a Iliitinl #ern) of the Director solectod by Developer for three (3) years, iile candidate
receiving the next highest number of votes shall serve the balance of the initial terra of the Diroctar
selected by Developer or two (2) years, and, likewise, ilia candidate receiving the third highest number of
volos shall serve the balance of the initial term of the Director selected by Developer for the carts (1) year
term.
5. In the eloction of Directors, there shall be appurtenant to each condominium unit a total vote
antral to file numbe of Directors to be elected multiplied by the unit's appurtenant tindlvided Interest in the
Common Area as set forth in i`xhlbits "0", 'te%'rW t,Gt13 wH-1, "I,t or "Y', whichever is then In effect, of the.
Declaration,, provided, however, that no member or owner of +one (1) condominium unit may cast a vote
greater than the unit's apptirtennnt undivided Interest In the common i�eea for any one person nominated
as a Director so that voting for Directors shall be noncumulative. Notwlll)slanding the fact that Developer
may be entitled to select a majority of the members of the Board of Directors, It shall still be entitled to
cast the vote for each rich condominium unit owned by it in the elections of other Directors; provided,
however, that the other Directors elected are persons other than Officers, Directors, Stockholders and
Employees of Developer, or calves alld reialives of ony said persons;
6_ in the event that Developer, in accordance wits) the rights herein established. selects any person
to serve on any Board of Directors or ilia Assoplatlon, neveloper shall have the absolute right at arty tint ,
in Its sole discretion, to replan such person with another person to serve on any Board of Directors:
Replacement of any person designated by Developer to serve on any Board of Dlreclo)a of the
Association shall be made by written instrument delivered to any officer of rho Association, which
Instrument shall Briecify Elie name of the person to be replaced and the name of Iho person desihnated as
successor to the parson so removed from the Board of Directors. The removal of ally Director and
dasignatic n of his successor shall be effective immediately upon delivery of such written Instrument by
Developer to any officer of the Association.
b[ T PALL

C. The organizational mooting of each newly elected Board of Directors shall be held wilhln tent (10) days of their
eleclion, at such tirne and al such place as shall be fined by the Directors at the meeting at which they were elected, and no
further notice of [lie organizational meeting shall be necessary, provided a quorum shall be firasont,
0. FROgUlar rrieeiings of Ole Board of Directors inoy be Held at such time and place as shall he deterrnincrl from
time to time by a majority of Cho Directors. Notice of regular meetings shall be given to each Director, personally or by mail,
',-)phone or telegram, at least three (3) days prier ro the day named for such meeting, unless notice is waived.
C. Spacial mealings of ttie Directors may be called by the President, and riilr$t be called by the Secrelary at the
written request of cone -third of the votes of the Board. Not less than three (3) days' notice of a meeting shall be given to each
Director, persorivAy or by mail, telephone or telegram, which notice shall at>3to tale time, place and purpose of the meeting,
F, Any direr;tor may waive notice of a meeting before or after the meeting, and such walvor small be deedmed
equivalent to ttie giving of the notice.
O. A quorum at a Directors' meeting shall consist of the Directors entitled to cast a majority of the votes of tite
entire Board_ The acts of the, Board approved by a majority of (lice votes cast at a meeting at which a quorum 1s present shall
constitute tho acts of the Board of Directors, except as specifically otherwise provided In tho Articles or incorporation, or
these Bylaws or the Declaration of Unit Ownership. If any Directors' meeting cannot be organized because a quorum tips slit
attended, or becauso the greater percentage of the Directors required to constitute a quorum for particular purposes has riot
attended, wherever the fatter percentage of attendance may be required as set forth in the Articies of Incorporation, these
Bylaws or Declaration of Unit Ownership, the Directors Who are present may adjourn the moeling from time to time until a
quorum, or the required percentage of attendance If greater than a quorum, Is present, At oily adjourned meeting, any
business that mlglit have been trgnsarted wat the meeting as originally called may be transooted without further notico. The
joinder of a Director In the action cif o meeting by sinning and concurring In the minolas thereof shall constitute the presence
of such Director for the purpose of determining a quorum.
H. Tile P'rouidirin Offlcor of Directors' meellnf}s shall be the Chnrlman of the Berard, If such an Officer has Iteen
elected; and if none, then the President of the Association shall preside, In the absence of the Presiding Officer, the
Directors present shalt deslgnate one of their number to preside.
1. Direotors' fees, if any, shall be determined by the members.
J. All of the powers and duties of the Assurfation shall be exercised by the Board of Directors, including those
existing under the common law and statute-,, the Articles of Incorporation of the Association, these Bylaws and the
Declaration of Unit Ownership: Such powers and duties shall be exercised In accordance with sold Articles of Incorporation,
these Bylaws and the Declaration of Unit Ownership, and shall Include, Without limiting ilia generality of the foregoing, tho
following;
1. To make, Ir?vy, and called assessments against members and members' rondoniiriltirn units to
defray the costs of the Candorrilrilum, as provided for in Article XtV of the declaration of Unit Ownership
which Article Is herein incorporated by reference, rand to use the proceeds of said assessments in the
exercise of the powers and duties granted unto the Association,
2. To maintain, repair, replace, oporalo and manage the common areas and facilities whatever the
some Is required to be done and accomplished by the Association for the benefit of its members, and further
to approve any expenditure tirade or to be made for said purpose;
3. To reconstruct any part of tie common areas and facilities after casualty In acmdanre with
Article XVII cif [lie Declaration of Unit Ownership, and to matte furlhar improvement to Ilia common ernes,
real and personal, and to matte and to enter Into any and all contracts necessary or desirable to accomplish
said purposes;
A. To rhak€r, emend and enforce fegulations governing the use of the. commori Areas and facilities
and condominium units so long as such regulations or amendments thereto do not conflict with (life
restrictions and limitations which may be placed upon the use of such property tinder the torms of the Articles
of Incorporation and DeclarraHnn of Unit. Ownership;
S. To enquire, operate, lease, manage and otherwise trade and deal with property, real and
personal, including condominlurn units fn the Condominium as may he necessary or convenient to the
operation and management of the Condominium, and In accomplishing the purposes set forlh In the
Declaration of Unit Ownership, provided that the acquisition of real property other than condominium units
shall require the approval of the Association;
& To acquire now or at any time hereafter, and to enter into teases and r'ahreements wheraby the
Astmiallon accluires leaserholdt;, memberships, and other possessory or use interests In lands or facilities
including, but not liniltod to, %Winiming pools, tennis and other reuroatlonal facilltles whether or not contiguous
to the Itinds of the Condominium to provide enjoyment, recreation or other tree or benefit to the owners of
condominium units;
7. To contract for the management of the Condominium and to clestpnale to such managelileclt firm
oil of the powers and duties of the Association, except those which may be required by the Declaration of
Unit Ownership to have approval of the Board of Directors or membership of the Association;
a, To enforce by legal meads or procoedings the proviW ns of the Articles of Incorporation and
Bylaws of the Assoclaflon, the Daciaratlon of unit Ownership and the regulations hereinafter promulgated
governing use of tha common areas and facilities of the Condominium;
9. To pay all taxes and assesfimenN which are or may become liens against any part of the
Condominium, alhee than condominium units and the appurtenances thereto, and to nssess ilia same
against Ilia members and their respective condominium units sublest to such lions;

10, To purchase insurance for the protection of tho members and the Association against casually
and Ilnbility In accordance with Article XVl of the Declaration of Unit Ownership;
11. To pay all costs of power, water, sewer, and other utility services rendered to the Condominium
and not billed to the owners of soparato condominium units, and,
12, To designate and femove personnel necessary for the maintenance, repair, replacement and
operation of the Condominium including common areas,

K, The initial Board of Directors of the Association shall be comprised of the three (3) persons designated to
starve as 01rertors in the Articles of Inodeporatiorr, which persons shall serve Until their successors are elected at thG first
Annual Meeting of the members of the Association: Should any member of the lnitirat Board of Directors he unable to servo for
any reason, the rema4ilnq members of the Board of Directors shall have the right to deol9nate a party to servo as o Director
for the unexpired term.
L. The undertakings and contracts authorized by the Initial Board of Directors shall be binding upon the
.inl€ition in the same manner es though such undertakings and contracts had Neon authorized try ally Board of Directors
duly elected by the membership after the Declaration of Unit Ownership has been recorded, so long as such undrartakinps and
contracts are within the scope of the powers and duties which may be exercised by the Board of Directors or Tile Association In
accordance with all applicable condominium documents.
M. Any one or more of Ttte members of the Board of directors may be removed, either with or without ceuso,.ot
any time by a vote of the members owning a majority of the condominium units in the Condominium, at any Special Meeting
called for such purpose, or at the Annual Meeting. Provided, however, that only the Deftloper shall have Ole right to mmove a
Director appointed by It.
ARTICLE V
OFFICERS
A: The executive officer of the Associallon shall be a President, who shall he a Director, a Vice -President, a
Treasurer, a Secretary rind an Assistant Secretary, all of whom shall be elected annually by ttiR Board of Directors and who
may be peremptorily removed by a vote of the Directors at any meeting. Any persons may hold two or more offices, except
that the President shall not also be Vine -President, Secretary or an Assistant Secretary. Tile Board of Directors shall from
time to lime, eloot such other officers and designate their powers acid duties as they Board shall find to be required to manage
the affairs of the. Association.
8, Tho President shell be the chief executive; officer of the Association, He shall have all of the powers and
dulios which nre usually vested in the office of the president of any assoalellon, including, the power to appoint committees
from among the members as tie may determine appropriate to assist In the conduct of Die affairs of the Association,
C. The Vice-Presld©nt shall, In The absence: or disability of the President, exercise (tie powers to perform tlaa
duties of President. He shall also generally assist the President and exercise sut;h olhor powers and perform such other
duties as shall be prescribed by the Directors.
D, The Secretary shall keep the minutes of all proceedings of the Directors and the members. Ile shall attend to
the giving and serving of all notices to the members and Directors, and such other notices required by law. He shall have
custody of the seat or the Association and afflx the same to instruments requiring a seat when duty signed. He shall keep the
r—ords of the Association, except those of tine Treasurer, and shall perform all other dutias Incident to the office of socrelary
i association and as may be required by the Directors of the President, The Assistant Secretary shall perform the dutles
o, 6ectetary when the Secretary is absent.
E, The Treasurer shall have custody of all of the property of the Association, including funds, securities and
evidences of Indebtedness. He shall keep, or supervise the keepinv of", detailed, accurate records in chronologlt al order of the
renelpts and expenditures affecting the common areas and facilities, specifying and identifying the maintenanr e and f6pair
expenses of the common areas and facilities and any other expenses iricurred.
F. The compensation of all officers and employees of the Associallon shall tie fixed by the Directors, This
provislon shall not preclude the hoard of Directors from employing a Director as an arriployee of ilia Association. nor preclude
trio conlr-acting with a Director for titer manaportient of the Condominium,
G. All officers shall serve at the pleasure of tiie Board of Directors and any officer may be removed from uffiror
at any liana, with or without cause, by a majority vote of the Board of Directors,
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ARTICLE VI
FISCAL MANAGEMENT
The provisions for fiscal management of the Association set forlh In the Declaration of Unll ownerfihlp and
Articles of incorporation shall tie supplemonted by the following provisions:
A. The assessitionk roll shall be watntalriDd In a set of accounting books In winch there shall be an account for
r condominium unit, Such account shall designate the name and address of the unit owner or owners, the ammurit of each
ssment against the owners, the dates and amounts In which assessments come due, the amounts paid upon the account
and the balance due upon assessments,
S. The Board of Olreclom shail adopt a budget for each calendar year which shall contian estimates, of the cast
of performing the funntions of the Assoc.iatlun, Including, but not limited to the following;
i. Common Expense budget, which may include, without ltmlting the generality of the foregoing, tho
estimated arrnbunts necessary for nieintenerlr a and operation of and capital improvements to the common
atees including landscaping, street and walkways, office expanse, utility services, casualty Insurance,
tfabilily insurance, adminisirat€on and reserves, management fens anti costs of matntafning leaseholds,
memberships and other possessory or use Interests in land or facilltles whether or not contiguous to the
rands of the Condominium. to provide enjoyment, recreation or other use or benefit to the unit owners, and,
2_ Proposed. assessments acgainO each member and his unit.
Copies of the proposed budget and proposed assessments shall be tranr;mitted to each member prior to
January 1 of the year for which Ilia budget Is made. If the budget Is subsequently amended before the assessments are
made, a copy of the artrended budget shall be furnished each member concerned. Non -deliver of a copy ofany budget or
atnonded budget to each member shall not affect the liability of any member for any such assessment, nor shall delivery of a
copy of such budget or amended budget be considered as a Gondltion precedent to the effectiveness of said budget and
assessments levied pursuant thereto and nothing herein container) shall be construed as restricting the right of the Board of
Directors, at any lime in their sole discretion, to levy any additional assessments In the event that the bucloet originatlu adopted
shall eppetar to be Insufficient to pay costs and expenses of operation and management, or in the event of emergencies.
C. The Board of directors may retain professional management services to be primarily responsible for fiscal
management of the Association and maintaining the Condominium, Any management agreement for the Condominium will be
terminable by the Association for the cause upon thirty (30) days' written notice thereof, renewable by agreement of the parlles
for successive one-year perlods.
The prior written approval of lenders holding 60% of the first mortgages will he required for the effectuation of
any decision by the owners association to terminate prolossionat management and assume soli -management of Ole project.
D. The depository of the Association shall be such bank or banks as shall be designated from time to time by
Directors and In which the funds of the Association shall be deposited. Wilhdrawat of funds from such accounts shall be
only by checks signed by such psrsons.as are authorized by the [)tractors.
E. The boogl and all supporting documentation shall be avnilabie for examination by all unit owners and their
Lenders or their agents during normal business hours.
F. An audit of the accounts of the Association shall be made annually by a Certified Public Accountant, and a
copy at the report shall be furnished to each member not later than April 1 of the year following the year for which the report Is
made.
G. Fidelity bonds may be required by the Board of Directors from all officers and employeeb of the Association
and from airy cQnirootor handling or responsible for Association funds, The amount of such bonds shall he detarr{lined by tiie
Directors. The premiums on such bonds zhal be. paid by the Associations.
hl, The fiscal year of the Association shall be the calendar year, except that in the Initial year of operation of the
Condominiu, the fiscal year shall commenco with the ctosing of the sale of the first condominium unit,
ARTICLE VI
PARLIMENTARY RULES
Roberts Rule of Order (latest edition) shall govern tha conduct of the corpornte procendinos when not in conflict
with the Articles of Incorporation and these Bylaws or with the Stalotes of the State of North Carolina.
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ARTICLE Vill
AMENDMENTS TO BYLAWS
Amendments to those Bylaws shall be proposed and adopted in the following manner:
A. Amendments to these Bylaws may be proposed by the board of DIrecl ais of the Association ]cling upon a
vote of the majority of the Directors, or by members of the Association owning a majority of the condorninlum units In the
i .,)minion, whether meeting as members or by instrument in writing signed by them.
B. Upon any amendment to these Bylaws tieing proposed by said Beard of Directors or members, such
proposed amendment shall be transmitted to the President of the Association, or other officer of the Association in the
absence of the President, who shalt thereupon (.sell a Special Joint Meeting of the Members of tha Board of Directors of the
Association and the membership for a data not sooner than twenty (20) days or later than sixty (60) flays from receipt by such
officer of the proposed amendment and it shall be the duty of the Secretary to give to each member written notice of such
mooting in the some form and in the some manner as notice of the roll of a Special Meeting of the me inbers is required as
herein scat forth,
C. In order for such amendment to become effective, It must be approved by an affirmative vote of a majority
of the entire membership of the Board of Directors and by an affirmative vote of the rriembers owning not less Ilion
three -fourths of the pundominitini, units In the Corcdprilirtium, Thareupon, such amendment or amendments to these Bylaw
shall be transcribed, cerlifled by the Secretary of the Association, and a copy thereof shall be recorded in the office of the
Register of De-eds of Carteret Counly, North Carolina, within twenty (20) days from the date which any arnetic me"t lies been
approved by flies Directors and members, No amendment shall become; effective~ until It is duty recorded
D. Upon the approval anti proper# recording of any amendment, It shall become hindin fl upon all unit owners,
E. At any meeting held to consider ony arnendmrant to the idylaws, the written vote of any mornber of Ilse
Association shall be recognized if such (member is not In attendance at such meeting Qr represented thereat by proxy, provided
such written vote is delivered to the Secretary of (lie Association at at prior to such meeting,
F. Notwithstandlnp the foregoing previsions of this Article VII, no amendment to these Bylaws which shall
abridge, amend or allor the right of the Developer to designate and select members of each Board of Directors of the
Association, as provided In Article IV Hereof, may be adopted or become effective without prior Written consent of the
Developer,
ARTICLE IX
GENERAL. PROVISIONS
A. The seal of the Association shall consist of two (2y concentric circles between which is the name of thea
Corporation and In the center of which Is inscribed SEAL; and suc li seat In tale form approved and adopter] by the Board of
ctors, shall bo the corporate seal of the Corporation,
B. No loads shall be contraced on behalf of the Association and no evidences of indebtedness shall be Issued in
its narne unless authorized by a resolution of the Board of Directors.
C. AfI checks, drafts or ether order for payment of money Isseed Its the name of the Association shall be signed
by such officer or officers, agent or agents, as from time to lime may be designated aria authorized by a resolution of the Board
of Directors:
ARTICLE X
COMPLIANCE
These Bylaws are set forth to comply with (lie requirements of the Unit Ownership Act, Chapter 47A of the
General Stattales of the State of North Carolina, In the event that any of these Bylaws conflict with the provisions of said
statute, It is hereby ragreeci and raaceptatt that the provisions of said statute will apply
The foregoing were adopted as the Bylaws of feint Emerald Villas Association, I11c, at the first meeting of the
Board of Directors on
BACK TO CONTENTS

= (:15_T_q
FIRST AMENDMENT TO THE BYLAWS OFVQ
POINT EMERALD VILLAS ASSOCIATION, INC.
WHEREAS, Article VIII of the Bylaws of Point Emerald
Villas Association, Inc, ("Bylaws") provides that the Bylaws may
be amended; and,
WHEREAS, the amendment as hereinafter set forth was
proposed by a majority of the Directors of the Association and such
proposed amendment was transmitted to the President of the
Association; and,
WHEREAS, the President designated the Annual Meeting of
members to be a Special Joint Meeting of the members and the Board
of Directors of the Association for the purposes of voting on the
proposed amendment to the Bylaws as well as conducting the regular
business as set forth in the agenda and as arose at the said
meeting; and,
WHEREAS, notice of said meeting was provided to the
members as set forth in Article VIII of the Bylaws; and,
WHEREAS, at said meeting, the amendment was approved by
an affirmative vote of a majority of the entire membership of the
Board of Directors and by an affirmative vote of the members owning
not less than three -fourths of the condominium units in the
Condominium.
NOW, THEREFORE, Section A of Article III of the Bylaws
shall be amended by deleting the words "first Saturday in March"
and inserting in lieu thereof the words "second Saturday in April" •
This amendment to
the Bylaws of Point Emerald Villas
Association, Inc. is hereby
certified by the Secretary of the
Association as a true copy
of said amendment as was properly
adopted, pursuant to Article VIII of the Bylaws on the 8th day of
`
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POINT EMERALD VILLAS ASSOCIATION,
•may �;,';
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INC.
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ZINA
By:
,� ` f
H . oxf las He' ns, Secretary

STATE OF NORTH CAROLINA
COUNTY OF s I r>1.J
1, h i3- aw�D per_+P-r , a Notary public
in and for said County and State, do hereby certify that H. DOUGLAS
HELMS, Secretary of point Emerald Villas Association, Inc.
personally appeared before me this day and acknowledged the due
execution of the foregoing instrument.
WITNESS my hand and notarial seal, this the of_day
of , 1989.
My Commission expires:
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6LGL

! SECOND AMENDMENT TO THE BYLAWS OF
i POINT EMERALD VILLAS ASSOCIATION, INC.
IFl WHEREAS, Article VIII of the Bylaws of Point Emerald
Villas Association, Inc. ("Bylaws") provides that the Bylaws may
be amended; and,
WHEREAS, the amendment as hereinafter set forth was
proposed by a majority of the Directors of the Association and such
proposed amendment was transmitted to the President of the
Association; and,
WHEREAS, the president designated the Annual Meeting of
members to be a Special Joint Meeting of the members and the Board
of Directors of the Association for the purposes of voting on the
proposed amendment to the Bylaws as well as conducting the regular
business as set forth in the agenda and as arose at the said
meeting of members; and,
WHEREAS, notice of said meeting was provided to the
members as set forth in Article VIII of the Bylaws; and,
WHEREAS, at said meeting, the amendment was approved by
an affirmative vote of a majority of the entire membership of the
Board of Directors and by an affirmative vote of the members owning
not less than three --fourths of the condominium units in the
Condominium.
NOW, THEREFORE, Paragraph 4, Section B of Article IV of
the Bylaws shall be amended to include the following new paragraph:
"Commencing with the Special joint Meeting of
the members and the Board of Directors of the
Association held on April 8, 1989, the number
of Directors of the Association shall be
increased to seven (7). At said Special Joint
Meeting of members and directors, a total of
four (4) directors shall be elected, two (2)
of which shall be elected by reason of the
expiration of the terms of two (2) existing
Directors and two (2) by reason of the
increase in the number of Directors as stated
herein. At said Special Joint Meeting, the
two (2) candidates for the Board of Directors
receiving the greatest number of votes shall
be elected for a term of three (3) years and
the two (2) candidates receiving the next
highest number of votes shall be elected for
a term of two ( 2 ) years. In the event that
all candidates for the Board of Directors
receive an equal number of votes, the
President of the Board of Directors shall
designate the two new Directors whose terms
shall be for three (3) years and the two new
IA,. SAGv,� , -

Directors whose terms shall be for two (2)
years. At the expiration of the terms of each
Director subsequent to the Special Joint
Meeting of members in 1989, each new Director
shall be elected for a term of three (3)
years."
This amendment to the Bylaws of Paint Emerald Villas
Association, Inc. is hereby certified by the Secretary of the
Association as a true copy of said amendment as was properly
adopted pursuant to Article VIII of the Bylaws on the 8th day of
April;, r1989:
..[C.prpcate
seam
ryrr (.- it�ti5--
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Sfi''
STATE OF NORTH CAROLINA
COUNTY OF nrj s f r) ")
POINT EMERALD VILLAS ASSOCIATION,
INC.
By* dz-L.
H. Douglas Hems, Secretary
I, �-0.k0. CCLV ip c7.1Ner a Notary Public
in and for said County and State, do hereby certify that H. DOUGLAS
HELMS, Secretary of Point Emerald Villas Association, Inc.
personally appeared before me this day and acknowledged the due
execution of the foregoing instrument.
WITNESS my hand and notarial seal., this the �_ day
of �y,, ,� i1989.
9�tyf><1iltj
G,Ah
gyp';J {S A" y "may
Notary Public y .�
r,
My commission expires:
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FILE 0 1606036
THIRD AMENDMENT TO
BY-LAWS OF
POINT EMERALD VILLAS ASSOCIATION, INC.
Under the terms of the By -Laws as duly adopted and recorded in Book , at page of
the Carteret County Registry, Point Emerald Villas Association, Inc. the By -Laws shall be
amended by an affirmative vote of a majority of the entire membership of the Board of Directors
and by an affirmative vote of the members owning not less than three -fourths of the
condominium units in the Condominium as set forth in Article 8, Section C.
ARTICLE VI
FISCAL MANAGEMENT
H. The fiscal year of the Association shall be the calendar year, January i —
December 34 of each year, except that in the initial year of operation of the Condominium, the
fiscal year shall comments with the closing of the sale of the first condominium unit.
The Amendment set forth above was approved by a 76.334% vote of the Point Emerald Villas
Association, Inc. members on the 0 day of October, 1995 with a quorum being present.
DATED
FO THE BO -OF DIRECTORS
Nick Crane
Association Manager
Crystal Coast Management Consultants
r NOTA R },
MY
001AMISS1oN EXPIRES
� PUBL1G �
Od-

1606036
North Carolina
--C"y County
t, r I1C�,^ ffi fi�ifte E�� pS, a Notary Public for said County and State, do hereby certify
that lV� e personally appeared before me this day and
acknowledged the due execution of the foregoing instrument.
Witness my hand and official seal, this thet9day of 7 , 2017.
�� ff�w &.Aog
Notary Public
My commission expires 6 (-) 20-L?-.