Rules and Regulations

Sherwood Garden

RULES RELATED TO SALES, LEASES AND NON-RESIDENT UNIT OWNERS:

1. All unit owners who do not reside in a unit owned by them shall provide the Board and/or

Property Management Company with their permanent residence and phone numbers where
they may be reached in an emergency, both at home and at work, as well as names and
phone numbers of those who reside in the unit. Any expenses of the Board incurred in
locating a unit owner who fails to provide such information shall be charged and assessed
to that unit owner. Unless otherwise provided by law, any unit owner who fails to provide
such information shall be deemed to have waived the right to receive notices at any address
other than the address of the unit and the Board shall not be liable for any loss, or prejudice
to the rights of said unit owner caused by any delays in receiving notice resulting there
from.
2. The Association has set a 20% limit of units that can be rented, which is no more than

ten (10) units. No unit owner may lease less than the entire unit, nor may the unit be leased
for transient or hotel purposes. Every lease must be for a period of at least one year, unless
the Board consents in writing to the less than 12 months.
3. No unit shall be occupied without a copy of the Sales Agreement, Lease or Renewal of

Lease being provided to the Association and/or the Property Management, financial
arrangement may be excluded.
4. Every lease shall be in writing and shall contain a provision that it is subject in all respects

to the provisions of the Declaration, By-Laws and Rules and Regulations of the
Association. In addition the unit owner must be current with assessments and
Addendum L must be signed by unit owne(s)r and the tenant(s).
5. Every unit owner intending to lease a unit shall give at least thirty (30) days prior written

notice to the Board of such intentions (See Procedures for Sale/Lease/Renewal),

whereupon the Board and/or Management shall provide the unit owner with a Rider, which
shall be added to the lease and shall be signed by all the parties executing the lease. A copy
shall be provided to the Association prior to the starting date of the lease.
6. The unit owner shall be responsible for providing his or her tenants with copies of the

Declaration, By-Laws, and Rules and Regulations of the Association. In addition, the
Association shall be given a signed original rider to every lease of any unit on the property
prior to the effective date of said lease. Any expenses incurred by the Association in
obtaining these documents shall be charged to the responsible unit owner(s).
16