Valleyfield Association

Rules Adopted by the Valley Failed Homeowners Association on March 16, 2010.

Preface: the Board of Directors is charged with, among other things, the businesslike operation of the Association, the rights of the members to the quiet enjoyment of their premises and its financial stability. These responsibilities can be affected by rental of a home or unit by an association member. Accordingly, as it concerns association members who are landlords and their tenants, the following rules were adopted at the most recent meeting of the Board of Directors.

1. Any association member who wishes to lease his/her unit to a 3^rd party must provide to the Association a copy of the written lease entered into between any unit owner and the tenant. Said lease must contain the following language: “Tenant acknowledges receipt of a copy of the Association Declaration, Bylaws and Rules and Regulations and agrees to abide by the same.”

2. Any association member who wishes to lease his/her unit to a 3^rd party must provide to the Association verification that he or she has provided a copy of the Association Declaration, Bylaws and Rules and Regulations to the prospective tenant.

3. Any association member who wishes to lease his/her unit to a 3^rd party must provide to the Association a copy of the credit/background check performed on the tenant by the member. If no credit/background check has been performed by the member, the Association shall be authorized to perform such a credit/background check on any prospective tenant and to bill the member for said credit/background check.

4. Any association member who wishes to lease his/her unit to a 3^rd party understands that he or she is not relieved of his or her responsibilities as an association member, such as maintenance of the unit, observing the Association members rights to quiet enjoyment of their property, payment of monthly condominium dues and assessments, etc. These obligations may not be delegated by an association member to a tenant.

5. No association member may lease to any 3^rd party if the lease would result in a violation of any local, state or federal regulations.

6. In order to provide for the ability of the Association to maintain the businesslike operation of the Association and to ensure information is available in case of emergency situations which may arise, any association member who wishes to lease his or her unit shall complete a Rental Information Form and submit the completed form and written lease agreement to the Association president prior to the tenant commencing occupancy of the unit. An example form is attached to these rules. Any association member who fails to provide the documents identified in this paragraph may be subject to a fine or fines assessed by the Association Board.

7. The homeowner shall be responsible for any violation of the terms of the Association Declaration, Bylaws, Rules or Regulations by the tenant. The violation may result in a fine or penalty assessed by the Association Board. The Homeowner shall be responsible for any fine or penalty levied as a result of the actions of the tenant.

8. Failure of any homeowner or tenant to abide by these rules or the violation of any of these rules, or any provisions of the Declaration or Bylaws of the Association lasting longer than 30 days will be good cause for eviction of the tenant from the premises. Upon demand by the Association Board to the homeowner to evict the tenant for violation of the Association Declaration, Bylaws or Rules, the homeowner shall immediately begin the eviction process. If the homeowner fails to begin the eviction process within 30 days after demand by the Association Board, the Association Board shall have the right to bring legal action against the homeowner/landlord to require the eviction of the tenant and for any and all damages caused by the activity of the tenant or the landlord. Landlord shall also be responsible for all of the costs and legal fees of the Association in pursuing any such action.

E-Mail The Association President

anabeth@comcast.net

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