Coach 2013 Annual Report Download - page 296

Section 3.8 Voting. Each Unit Owner in Good Standing, or some person designated by such Unit Owner to act as proxy on his or their
behalf and who need not be an owner, shall be entitled to cast the vote appurtenant to such Unit at all meetings of Unit Owners. The designation of any such
proxy shall be made in writing to the Secretary, and shall be revocable at any time by written notice to the Secretary by the owner or owners so designating. A
fiduciary shall be the voting member with respect to any Unit owned in a fiduciary capacity. Each Unit Owner shall have a vote commensurate with its
proportionate Common Interest and any and all references to a “ majority” of Unit Owners shall in all instances mean a majority determined in accordance with
such Unit Owners’ respective Common Interest. If more than one Person owns a particular Unit, such Persons shall vote jointly at all Unit Owners meetings.
Failing such a joint vote, the concurrence of such Persons shall be conclusively presumed if any one of them purports to vote in respect of such Unit, unless
and until a protest of such vote is made by any other such Persons to the Board of Managers. From and after the day such protest is made until the dispute
with respect thereto is resolved to the satisfaction of the Board of Managers, no such vote shall be deemed to have been cast; provided, however, that (i) for the
limited purpose of determining whether a quorum exists at any meeting of the Unit Owners, such Unit Owner shall be deemed to present in person; and (ii)
such protest shall not nullify any vote or action taken by such Unit Owner prior to such protest being made. “ Unit Owner in Good Standing” means as of any
given date, a Unit Owner (or ground lessee, as applicable) with respect to which or whom no monetary event of default under the Condominium Documents
has occurred and is continuing at the time in question after any required notice and beyond all applicable cure periods. Whether or not so expressed, each
reference in the Condominium Documents to a required vote of the Unit Owners, all such references shall mean the required proportionate vote of Unit Owners
in Good Standing. If any Unit is owned by Declarant but subject to a Declarant Net Lease, the Declarant Net Lessee, and not Declarant or a Declarant Net
Lessor, shall have the right to vote the Common Interest of such Unit to request a meeting under Section 3.3 hereof, to constitute a quorum under Section 3.9
hereof, and to vote such Common Interest at any meeting of Unit Owners. Following notice by Declarant or Declarant Net Lessor to the Board of Managers that
an Event of Default has occurred under a Declarant Net Lease, the Declarant Net Lessee under such Declarant Net Lease may not thereafter exercise such
rights, until further written notice is provided from Declarant or the Declarant Net Lessor to the Board of Managers that such voting rights and rights under
Section 3.9 hereof have been reinstated.
Section 3.9 Quorum of Unit Owners. At all meetings of the Unit Owners, a majority (measured for all purposes by Common Interest) of the
Unit Owners shall constitute a quorum for the transaction of business. Decisions of the Unit Owners, unless otherwise provided in the Condominium
Documents, shall be made by the vote of a majority of the Unit Owners, measured by Common Interest. If at any meeting of the Unit Owners there shall be
less than a quorum present, a majority of those present (in person or by proxy) may adjourn the meeting from time to time on notice to all Unit Owners. At any
such adjourned meeting at which a quorum is present, any business which might have been transacted at the meeting originally called may be transacted
without further notice. Any action required or permitted to be taken by the Unit Owners may be taken without a meeting if the Unit Owners consent in writing
to the adoption of a resolution authorizing such action and the writing or writings are filed with the records of the Condominium.
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