Bylaws - Article IV - 4.02

ARTICLE IV: The Government of the Association
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4.02. Duties and Powers of the BoardExcept as provided in the Act and otherwise in these By-laws, the powers of the Association shall be exercised by the Board, and without restricting the generality of the foregoing, the duties of the Board shall include the responsibilities set out in Article III 2(a) of Schedule “A” together with the following:
a. To facilitate and promote the objects of the Association;
b. To create and define categories of Members;
c. To engage, hire and discharge any employees including administrative employees, in respect to the operation of the Association;
d. To maintain and properly protect the assets and properties of the Association, including, but not limited to the maintenance of the Perimeter Fence constructed along the Rabbit Hill Road and Riverbend Road boundary of the Eagle Ridge Subdivision.  
e. To prepare and approve an annual budget consistent with the good management of the Association;
f. To pay all expenses of and incidental to the operation and management of the Association
g. To remunerate or indemnify any persons for services rendered or liabilities incurred in connection with the affairs of the Association;
h. To maintain all accounting and financial records of the Association;
i.  To invest and deal with the monies of the Association not immediately required in such securities and in such manner as from time to time may be determined by the Board;
j. To Finance the operations of the Association and to borrow, raise or secure the payment of moneys in such manner as the Board may, from time to time, think fit; provided that no borrowing in excess of $5,000.00 shall be made without prior authorization of the Members in General Meeting, and no debenture shall be warranted unless authorized by Special Resolution;
k. To appoint legal counsel and auditors from time to time;
l. To make rules and regulations for the operation of the Association and the use of its facilities and assets; m. Without in any way abrogating or limiting the general responsibility of the Board, to delegate its powers and duties to any person engaged as
an Administrator of the Association;
n. To set, levy, issue and collect levies, fees, penalties, damages, costs and other recoveries, including;for the operating and maintenance requirements for the Association and allocate these to the owners as annual members’ fees;
for the failure to remit member fees by April 1 of each calendar year, a late payment penalty will be added to the account of any member whose invoice for the annual fees is not paid and is 90+ days in arrears. The initial value of the Late Payment Penalty is set at 16% of the annual member fee. This amount will be added to the account of each Member for every six-month period that the invoiced amount remains outstanding;for enforcement of the Restrictive Covenant and Encumbrance Agreement (Schedule “A” hereto):an administrative fee in the amount of $250.00 for any of the steps described in Section 16.01 of these Bylaws payable by a person or persons in breach of the Restrictive Covenant and Encumbrance Agreement for each instance of a breach; in addition to an administrative fee, if any, recovery against a person or persons in breach of the Restrictive Covenant and Encumbrance Agreement of any and all legal fees, disbursements and other charges incurred by the Board or the Association for legal advice and assistance in connection with enforcement of the Restrictive Covenant and Encumbrance Agreement against a person or persons in breach thereof;For the recovery of any costs - including legal fees, disbursements and other costs - associated with the collection of any outstanding member fees, and late payment penalties that have remained unpaid for more than 6 months after the date of invoicing by the Association.
‍o. To issue certificates as to Member's position with regard to members’ fees any such certificate to be signed by at least two members of the Board; and any certificate so issued shall estop the Association and all Members from denying the accuracy of such certificate as against any mortgagee, purchaser or other person dealing with the owner of the Parcel to which the certificate relates (but shall not be an estoppel as against the owner of such Subdivided Lot); and
‍p. To place and maintain third party liability insurance in such amounts and on such terms as the Board may from time to time select, insuring the Members and Board members in respect of the actions and omissions of the Association.