The Village Racquet Club Association
F. Negotiate and enter in contracts with vendors or service providers for services and contracts including but not limited to utilities, trash removal, landscape, and pest control, as directed and approved by the Board in accordance with the Approved Budget. G. Unless otherwise provided in the approved budget, the expense incurred for any one item of repair or replacement shall not exceed the sum of $1,500.00 without prior authorization by the Association; except in the case of emergency involving danger to life and property or repairs immediately necessary for the preservation and safety of the Property or for the safety of the occupants, or required to avoid the suspension of any necessary service to the Property, which repairs may be made by Agent, irrespective of the cost limitation imposed by this paragraph. H. Manage the architectural review process if requested by Board of Directors. I. Maintain all records of the Association. Association records shall be kept at the Agent’s office and shall remain the sole property of the Association. Upon termination of the Agreement, Agent shall return all such records and correspondence to Association or to a person designated in writing by the Board of Directors. Such records shall be picked up at Agent’s offices during normal business hours with reasonable notice. Records shall be open for inspection and or copying based on guidelines established by Board, however, on 48‐ hour notice and during Agent’s normal business hours. 9:00 a.m. – 5:00 p.m. Monday through Friday, excluding holidays. Owner requesting documents shall be charged for copying fees in accordance with California Civil Code. Agent shall maintain a current unit owners list based upon voluntarily supplied data from owners or escrow companies and with supporting documentation. Agent shall not be required to discover transfers of title or changes in ownership that are not reported to Agent. 2.2 Financial Management. Agent shall perform the financial management services described in Article III below. In addition, no later than ninety days prior to end of the fiscal budget year of the Association, Agent shall submit to the Association for Association’s approval a proposed operating budget for the Property, setting forth all estimated receipts and disbursements relating to the Project for the next fiscal year. The operating budget as appr oved by the Board shall be deemed the “Approved Budget”. Association shall not be obligated to pay the overhead expense of Agent’s principal offices. Agent shall not be obligated to make any advance to or for the account of the Association or to pay any sum, except out of funds held or provided as aforesaid, nor shall Agent be obligated to incur any liability or obligation for the account of the Association without assurance that the necessary funds for the discharge thereof will be provided. 2.3 Association Meetings. Agent shall perform all the following in connection with the meetings of the Board of Directors of the Association: A. Attend bi monthly Board meeting and Annual Membership meeting. Meetings are to be held Monday – Thursday, commencing no later than 6pm. Friday after 5pm, Saturday & Sunday meetings will be at an additional charge. B. Prepare the agenda, Board package and minutes of the Board meeting and Annual Meeting. Agent will be reimbursed the actual cost of postage and printing. Board packets will be delivered electronically unless agreed to otherwise.
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