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        Condominium Los Almendros     |   
            LOS ALMENDROS  BYLAWS (ENGLISH)
            REV 25/10/08 Jlh
            - “ANNEXED A.”
            --- REGULATION OF ADMINISTRATION AND JOINT OWNERSHIP---
            CONDOMINIUM THE LOS ALMENDROS
            ARTICLE I
            GENERAL DISPOSITIONS -
            --- SECTION 1.1. ADOPTION
            --- "SELLER/DEVELOPER" adopts the present “Regulation of
            Administration and Joint ownership”  governing the administration of
            the property here subjected to the “Régime of Horizontal Property”
            and designated as “CONDOMINIUM THE LOS ALMENDROS.”
            --- SECTION 1.2 LAW CLAUSE
            --- The “CONDOMINIUM THE LOS ALMENDROS” it consists of fifty four
            (54) RESIDENTIAL APARTMENTS, it will be governed by the dispositions
            of the law of Horizontal Property of the Free State Associated of
            Puerto Rico, Number Hundred Fifty Seven (157) of four (4) of June of
            thousand nine hundred seventy six (1976), according to amended, for
            the applicable dispositions of the Civil Code, for the deed and
            present Regulation.
            --- SECTION 1.3 DEED PUBLISHES
            --- This Regulation incorporates to and it is part of the Deed it
            Publishes Number two hundred fifty nine (259) of date thirteen (13)
            of April of the year two thousand (2000), granted in Mayagüez,
            Puerto Rico, before the Notary Publishes Roberto M. Grace Rullán.
            Administration.
            --- The owners are under an obligation to exercise their  rights and
            that they are required to propitiate an atmosphere of healthy
            coexistence, respecting the right of ownership of the other owners.
            ARTICLE II
            --- SECTION 2.1 SUPREME AUTHORITY
            --- The supreme authority about the subjected property to the Régime
            of Horizontal Property will reside in the Owners as group in the
            form of a Council of Owners.
            --- SECTION 2.2 The Owners of the respective units of the Buildings
            form the Condominium that they will constitute the Council of Owners
            collectively.
            --- SECTION 2.3 The person or people in whose name appears inscribed
            in the Registration of the Property will be considered as Owner of
            the same one for all effects.
            --- SECTION 2.4 TRANSFER OF PROPERTY
            --- The changes in ownership will only be made in the records of the
            Condominium with the presentation of a certified copy of the
            notarize instrument for which the respective unit is transferred.
            --- SECTION 2.5 ANNUAL MEETING
            (A.) The Council of Owners will celebrate an annual meeting in the
            place inside the Municipality of Rincón, Free State Associated of
            Puerto Rico that will be indicated by the Meeting of Directors and
            that it will be been able to indicate in the convocation for such a
            meeting. the one that will be done with not less than ten (10) you
            give to date of anticipation fixed. The meeting will take place in
            the month of March or April, on the Saturday before Easter. The
            matters or to be will be the election of the members of the Meeting
            of Directors, the approval of the annual budget of the
            administrative expenses, maintenance and repair, and any other
            pertinent matter that he/she undergoes the consideration of the
            assembly.
            (B) If the annual assembly didn't take place in the designated day,
            or if the matters to covered were not concluded in the indicated
            day. or in any postponement, the President or the Meeting of
            Directors will summon to a special meeting of the Council of Owners
            as soon as it is possible. Any matters tried in this special meeting
            will have the same value and effect as if it was treated in the
            properly summoned and celebrated annual meeting.
            --- SECTION 2.6 SPECIAL MEETINGS
            --- A special meetings of the Owners can be summon, besides by the
            President, by a fifth part of the owners. In any moment, or any
            person's written petition or people with right to summon a special
            meeting, it will Correspond the Secretary to send the convocation
            for such a meeting to take place in the place inside the
            Municipality of Rincón, Free State Associated of Puerto Rico. and in
            the date that determines the Meeting of Directors that or it will be
            less than ten (10) days neither more than twenty (20) days after
            receiving such a petition. If the Meeting of Directors didn't fix
            the place and the date. the meeting will take place in the place and
            date you limit up specified.
            .
            3 4
            --- SECTION 2.7 CITATION AND PURPOSE OF THE MEETINGS: 
            --- The citations in writing will be notified personally to each
            Owner, or by mail certificate, with expression of the matters to
            try, of the place and the date. of each meeting of owners. This
            citation will be given with not less than ten (10) days neither more
            than twenty (20) days of anticipation to the meeting. If it is
            notified by mail, it will be sent to the Owner's address, as he/she
            appears in the Registration of the Property of the Condominium
            unless the Owner has requested in writing the Secretary that is he
            correspondent to another address. The appearance of an Owner,
            personally or by means of a representative, it authenticates the
            citation date. The advice will be able to meet validly even without
            convocation whenever they converge the entirety of the Regular ones
            and they agree this way it.
            --- SECTION 2.8 OF MOST: OF THE QUORUM
            --- It will constitute quorum in the date of the first convocation,
            the half more one of the owners. of being verified the quorum in
            this first convocation, it will be properly incorporated The
            assembly and the agreements will be able to adapt for a simple
            majority of the present owners or represented for, proxy to the
            moment of the voting.
            The presence in person or by voluntary legal representation (proxy),
            of the half plus one of the owners will constitute quorum. it will
            be enough to credit this last one a writing signed by the one by
            means of being able to (proxy) for their lawyer, for another owner
            or for a resident of the Condominium. A representative won't be able
            to vote with more than a proxy.
            --- When in him first convocation doesn't attend the half more one
            of the owners. you will proceed to a new convocation whose date can
            be included in the citation for the first one, preparing that The
            date for the second convocation will never be done for the same day
            of The first one. The Owners that attend this second convocation
            will constitute quorum and they will be able to adopt agreements you
            linked.
            --- The performances approved by Most simple of the present in any
            meeting for which quorum exists will constitute the performances of
            the Council of Owners, except when for Law, the main deed or this
            Regulation is required the approval by a number bigger than Owners,
            well for the third two parts or for the unanimity of the owners.
            --- When it is the election from candidates to the directive
            positions, it was selected the one that obtains the biggest number
            of votes.
            --- He/she will understand each other that it constitutes the
            presence of an Owner for the purposes of quorum determination their
            holding in the meeting by means of their signature in the
            registration of attendance.
            - SECTION 2.9 OFFICIAL THAT he/she PRESIDES OVER: OF THE WRITING OF
            MINUTES: THE ORDER OF THE AGENDA
            -- (A.). The meetings of the Council of Owners will preside over a
            meeting of President of the Meeting of Directors or, if this was not
            present, the Vice-president or if none was present. a president
            designated by most of the present Owners, very personally or
            represented to be able to.
            6
            --- (B) The Secretary, or in their absence, the Undersecretary, will
            compose the minutes of the same one; if neither the Secretary
            neither the Undersecretary are present, The assembly will choose any
            present owner to act as Secretary.
            --- (C) The order of the agenda will be like it continues:
            --- (1) to declare constituted the meeting and to present test of
            the convocation.
            --- (2) determination of Quorum.
            --- (3) approval of the minutes of the last previous meeting of the
            Council of Owners.
            --- (4) An update from the President and of the Treasurer.
            --- (5) election of the President and of the Vice-president.
            --- (6) election of the Secretary, of the Treasurer and of the
Vocal.
            --- (7) approval of the contract of the business agent.
            --- (8) approval of the Budget.
            --- (9) new matters.
            --- SECTION 2.10 POWERS AND OBLIGATIONS
            --- The Council will have all the powers and necessary obligations
            to assure the orderly administration of the Condominium and the
            well-being of the Owners including, without limitation, the
            following powers and obligations:
            --- (a) to Choose for yea of most of the Owners (i) The Meeting of
            Directors that will be composed by Owners.
            --- (b) to Designate the Administrator, to which The Meeting will be
            able to delegate certain powers and obligations just as it specifies
            It the Regulation.
            --- (c) to Remove any member of the Board of directors with or
            without justification by means of the majority vote of the owners
            gathered in a properly summoned assembly.
            --- (d) to Remove to the Administrator with or without
            justification. with half of the majority vote of the owners gathered
            in a properly summoned assembly. The contract with the business
            agent will do mention it specifies of this clause.
            --- (e) to give Approval (i) an expense budget and revenues for the
            incoming fiscal year (ii) the statement of income and expenses of
            the previous fiscal year, and (iii) the quotas that correspond each
            Owner to fulfill the common expenses of the Condominium and the way
            of charging the same, included, without limitation, the right of
            increasing the quotas of certain Owners as they provide it The Laws
            of Puerto Rico, 31 LPRA. Section 1.293 b(e.).
            --- (f) to approve bigger or more extraordinary repairs, maintenance
            work. to improve or to impose special quotas for their payment.
            --- (g) to Approve Risk insurance of the building, included the
            policies for public responsibility or for other risks that the
            Council of Owners estimates convenient.
            8
            -(h) to Take all necessary action for the security or the most
            effective use in The Common Elements, included the qualification of
            additional areas of parking, without affecting the green areas. and
            the appointment of spaces for the use of The owners or their guests.
            Of existing communal spaces of parking or of being enabled communal
            areas for that end, the same ones will be drawn annually among the
            interested owners. The Council of Owners will fix the rate of rental
            that will be paid by the use of the communal spaces of parking.
            --- The double parking won't be allowed, except for cases of
            emergency or that the Council of Owners authorizes it when it
            doesn't block it the circulation of the vehicles neither obstruct
            the access to other parking.
            --- (I) to Revoke or to ratify any action taken by the business
            agent, by the President or for the Meeting, included the decision of
            tolerating or of continuing with the quarrels or litigations filed
            for or against the Meeting or the Council of Owners.
            --- (j) to Designate the members of the Committee of Architectural
            Control, according defined in Article VIII, to establish the rules
            for their operation that you/they Are not inconsistent with the Law,
            Notarizes it of Horizontal Property or this Regulation.
            --- (k) to Adopt resolutions in matters of general interest for the
            Owners, provided they don't impair the individual enjoyment of each
            apartment.
            --- SECTION 2.11 THE VOTING
            --- Each Owner will be entitled independently to a vote of the
            number of units of those that it is proprietary. In case two or more
            people possess an interest in common for-undivided in anyone of the
            units, such people will designate a legal representative or
            volunteer so that he/she votes on their behalf and the a forenamed
            representative will be entitled to a single vote. If the unit is
            subject to an usufruct right, the attendance and the vote they will
            belong to the Owner and this Owner, except for manifestation in
            contrary, he/she will understand each other that the designated one
            to the one usufruct as its representative for effects of the
            attendance and voting; preparing, however that in the consideration
            of resolutions that you/they require the unanimous vote of the
            Owners for its approval or the approval of extraordinary projects or
            of improvements in The property for the Council of Owners. the
            appointment of the one usufruct as representative for voting
            purposes, it will consist in writing. When one or more than the
            units belong to a body corporate this will be able to designate one
            of the officials so that it attends the meetings and exercise the
            right to the vote that corresponds him
            --- SECTION 2.12 OF THE REGISTRATION OF OWNERS
            (A.) The Secretary will maintain a registration of owners indicating
            the Owner's names or the Co-owners of each unit. with expression of
            the percentage of each unit. This Registration will be subject to
            inspection for any Owner in any moment during the meeting.
            (B) The Registration of Owners will constitute test prima facie of
            those who are the Co-owners with right to examine this Registration
            or of voting in any meeting of the advice of Owners.
            ----The Secretary or the Administrator will have you copy up-to-date
            of the Registration of available Owners for any owner that requests
            them. In this registration each owner's post-office address will
            appear, to which the convocations will be notified.
            10
            --- SECTION 2,13 CONSENT IN SUBSTITUTION OF MEETING:
            --- It won't be necessary the celebration of a meeting of the
            Council for certain purpose if all the Owners with right to vote in
            (This meeting renunciaren to the referred meeting and consintieren
            in writing to that takes the proposed action.
            ARTICLES III
            THE BOARD OF DIRECTORS
            --- SECTION 3.1
            --- The matters related with the Maintenance and the administration
            of the common areas of the Condominium will be managed by a Meeting
            of Directors made up of five (5) owners, the President inclusive.---
            --- SECTION 3.2 DURATION
            --- The members of the Meeting of Directors will carry out their
            functions for a (1) year or until their successor is chosen and take
            possession.
            --- SECTION 3.3 CONDITIONS to QUALIFY
            --- (A.) The members of the Meetings of Directors will be members of
            the Council of Owners or in case to the Owner was a Minor or
            disabled he/she will be able to be member their legal guardian. ---
            --- (b) If the Owner was it a body corporate his represents you
            properly dominated he will be able to be member of The Meeting of
            Directors.
            --- (c) TO none of the members here qualified it will be allowed him
            to name representatives to act in their place.
            11
            --- SECTION 3.4 OF THE QUORUM
            --- Most of the Meeting of Directors will be necessary to constitute
            quorum and power to celebrate session. If in any meeting of the
            Meeting of Directors, there is not the required Quorum, most of the
            present will postpone the meeting. and without more notices he/she
            will meet of time in time until the quorum is achieved.
            --- SECTION 3.5 PLACE OF MEETINGS
            --- The meetings of The Meeting of Directors will take place inside
            the municipality of Rincón, unless a place different fixed outside
            unanimously of all the members in function.
            --- SECTION 3.6 REGULAR MEETINGS
            --- An organization meeting for organization purposes, of transition
            and coordination with the previous Meeting, as well as for The
            determination of the place and of the date of the regular and
            special meetings of the Meeting he/she will take place as soon as it
            is possible after the annual meeting of the Council of Owners. Them
            meetings of the Meeting of Directors will take place in the dates
            and places that of time in time will agree the Meeting.
            --- SECTION 3.7 SPECIAL MEETINGS
            --- The special meetings of the Meeting of Directors will be been
            able to summon for the President or for the Vice-president or for
            two members of the Meeting with two (2) days of notice to each
            member of the same one; well it is personally or by mail. For
            agreement of all their members. that it will be ratified me to of
            each election, they will be been able to notify the meetings for
            other means. as electronic mail, facsimile. telephone. etc.
            12
            ----SECTION 3.8 NOTICE OF MEETING
            --- He/she will be able to take place a meeting of the Meeting of
            Directors immediately without notice after the annual meeting of the
            Council of Owners. It won't be necessary to notify about the regular
            meetings of the Meeting of Directors that take place in occasions
            fixed by resolution of this Meeting, neither it will be necessary to
            notify about the postponed meetings. The meetings will be able to
            take place in any moment without notice if all the members of The
            Meeting of Directors are present. The notice of a meeting of the
            Meeting of Directors doesn't Have to indicate the purpose of the
            same one. neither the matter to be. The notice of any meeting of The
            Meeting of Directors will be been able to notify personally, for
            telephone or by mail.
            --- SECTION 3.9 THE VOTING
            --- Each member of the Meeting of Directors, the President
            inclusive, will have a vote (1) for it gives subjected matter to
            voting. The agreements will take for majority of votes.
            --- SECTION 3.10 COMPENSATION
            --- The members of the Meeting of Directors won't receive
            compensation some for their services
            --- If the position of any member of the Meeting of Directors is
            vacant during the end of the same one due to death or it resigns,
            the remaining members of the Meeting will be able to for majority,
            to choose this way a substitute, and the member elect it will occupy
            its position for the end that was the substituted member
            13
            . Any member will be able to resign in any moment. In case any
            member will cease of being member of the Regular Council for the
            transfer of his unit. this transfer will be considered as its
            resignation. The Meeting will notify to all the owners to the
            possible brevity The resignation to vacancy of the Director and the
            substitute's appointment. The Council of Owners, for a majority of
            votes will be entitled the in any moment to remove any or all the
            members of the Meeting of Directors. the President inclusive, with
            or groundless, and to choose new members
            --- SECTION 3.11 POWERS AND DUTIES
            --- The Meeting will have the powers and necessary obligations for
            the administration of the matters of the Condominium and he/she will
            be able to make all relative action to the administration that is
            not prohibited by the law, the Deed Horizontal Property and this
            Regulation or for resolutions of the Council. Also, the Meeting will
            have the following powers and obligations.
            --- (a) to Assist all matter related with the good administration,
            operation, supervision, security and operation of the Condominium,
            included the General Elements Commons, the Limited Elements Commons
            and the general services of the Condominium.
            14
            (b) To prepare the annual budget of common expenses and revenues for
            it gives fiscal year. The presented budget will contain, as minimum,
            an estimated of the total quantity of revenues that the Meeting
            waits to receive the same as an estimated of The administrative
            expenses, Maintenance. utilities. general expenses and reserve and
            capital outlay expenditures that will be imposed each Owner to cover
            the common expenses of the Condominium and the quotas that will be
            imposed each Owner for to the next fiscal year. The budget will be
            adopted in a meeting open of The Meeting, and he/she will undergo
            the Council for its approval in The annual meeting or in special
            meeting mentioned for that purpose. Immediately after the approval
            of the budget for the Meeting, a copy will be a correspondent to
            each Owner 45 days before the beginning of the fiscal year to which
            the budget applies. The omission or backwardness of the Meeting in
            preparing to adopt the budget for any fiscal year won't constitute a
            relief of the Owner's obligation of paying their proportional part
            of the quotas, according to here you provides, at the beginning of
            the fiscal year in question. In absence of any annual budget, each
            Owner will continue paying the established quotas for the previous
            fiscal year until The new quota is established.
            --- (c) To subject to The Owners for their approval, 60 days after
            finishing the fiscal year of the Condominium, an abstract of account
            of the previous fiscal year indicating the total of the received
            quotas of The Owners. all other received entrance, statement of
            account of all the expressions for departures, the paid remuneration
            to the administrator, the quantity of all the accounts to get paid,
            the balance cash of the previous fiscal year and the quantity of any
            reservation of funds. The statements of account will not be obtained
            before to the Owners less than 15 days to The meeting of the Council
            mentioned with the purpose of approving the abstracts of account.
            15
            (d) to maintain the books with the accounts, detailed in
            chronological order, of the expenses and revenues of the Condominium
            and their administration, including without limitation, the
            maintenance expenses and repair of The Common Elements. This book
            and their receipts and another documentation corresponding to each
            one of The entrances will be available for exam during working hours
            of Monday to Friday, previous agreement with to the Administrator.
            The right to inspect the Books and other documents of the
            condominium won't be able to train in such way that blocks the
            administration works.
            (e) To Charge the quotas to the Owners and to do any other
            collections and payments, emitting the receipts and corresponding
            checks.
            (f) to Open a bank account to name of the Condominium, to designate
            for the less ones two (2) authorized people, one of those which will
            have to be the treasurer, to sign, to deposit all received money in
            two days of having received and to emit checks against The account
            (which won't be able to be paid to the payee or cash) and to do all
            the necessary payments and to fulfill all the obligations of the
            Condominium. All the payments will be supported with their
            corresponding invoice, receipt, order. it counts, state or another
            appropriate documentation.
            ----(g) to Obtain rates of insurance for the one
            16
            Condominium and to subject them appropriately to the Council of
            Owners for The selection of the policy. The Council of Owners will
            choose the agent or insurance broker of the building.
            --- (h) to Watch over because the use of all The Common Elements is
            done fulfilling the dispositions of the Law. of this Regulation and
            of the agreements of the Council of Owners, and propitiating the
            healthy coexistence among all the residents.
            --- (i) to Propose to the Council of Owners the creation of one
            reserves of reasonable funds for the case of emergencies and
            accidental contingencies and for The repair and substitution of The
            Common Elements.
            --- (J) To take any necessary action for the I take care,
            maintenance, ordinary repair and security of the Condominium. In
            case an extraordinary repair is required, the Meeting will adopt a
            plan to carry out this repair and immediately it will subject its
            plan to the Council for its approval.
            ---(k) To maintain a book of Owners, which will contain the names
            and each Owner's personal information. included but not limited to,
            all the transfers and loads and the official address to which All
            the notifications and correspondence of any kinds of the Council and
            The Meeting of the Condominium will be sent.
            --- (l) to Increase or to reduce the quotas for you spend them
            common subject to the approval of the Council.
            --- (m) to Fill The vacancies of the Meeting of directors subject to
            of the Council.
            18
            --- (n) To complete with and to watch over because it is fulfilled
            The law of Horizontal Property, with the dispositions of the
            Horizontal Deed, of this Regulation and the resolutions of the
            Council.
            --- (or) Generally, to exercise the powers that it confers him The
            Law, The Horizontal Deed, the Regulation and any other law clause
            and to Carry out any other act that is not inconsistent with the
            laws. and that it is appropriate to promote and to obtain the
            purposes that settle down in the law, it Notarizes it of Horizontal
            Property and This Regulation.
            --- SECTION 3.12 - DISCHARGE OF DIRECTORS
            --- One or more managing they can be deprived, with or groundless,
            for (a) the vote of most of the Owners in special meeting mentioned
            for this purpose or in any regular or annual meeting in that this
            matter is included in the agenda; (b) I document written managed to
            the Meeting ordering The discharge and signed by Most of the Owners
            and indicating the Ends in which the director will be deprived. The
            end of the position of any Director that is for more than 45 days in
            backwardness or criminal in the payment of the quotas of their unit
            or apartment, it will finish the day forty six (46) and their
            successor then will be designated by the Meeting, of among the
            Owners, to cover the position for the end of time that it misses the
            deprived Director.
            ARTICLE IV
            OFFICIAL, DUTIES AND ABILITIES
            - Section 4.1 Duties
            18
            --- (a) The President of The Meeting of Directors will be the main
            executive official of the Condominium; he/she will preside over all
            The meetings of the Council of Owners and of the Meeting of
            Directors; he/she will do to summon the regular and special meetings
            of the Council of Owners and the Meeting of agreement Directors with
            This Regulation; it will make and it will sign all the contracts and
            agreements that are properly authorized for the Council of Owners
            and for the Meeting of Directors. To name of the Condominium it
            watched over because the books. inform. states and certificates
            required by the Laws of the Free State Associated of Puerto Rico or
            presently Regulation keeps, extend and they are resided
            appropriately by the Administrator, it will subject an annual report
            of the operations from the Condominium to the Council of Owners in
            its Annual meeting; and of time in time will inform to The Meeting
            of Directors, all the matters of its competition that in the
            interest of this Condominium, require to be taken to The
            consideration of this Meeting or that the same one could request. In
            general, he/she will carry out all the inherent duties to their
            position.
            --- (b) The Vice-president will exercise The functions of the
            President in the absence or inability of this. Generally, he/she
            will help to the President and he/she will carry out the duties that
            are assigned him by The Meeting of Directors.
            --- (c) The treasurer will have the supervision and it guards of the
            funds and effects of the Condominium, and it will watch over because
            the Administrator maintains up-to-date The accounting of the
            Condominium all the books and
            19
            vouchers in order. It will watch over, also, because all the sums
            and let us give effects of value they are deposited to name of the
            Condominium in the Bank designated by the Meeting of Directors. The
            Treasurer will supervise the payments of the funds of the
            Condominium that were ordered by the Meeting of Directors,
            conserving the appropriate vouchers, and surrendering to the
            President and The Meeting of Directors, in The regular meetings of
            the Meeting, or whenever that are required, you count of his
            performance like Treasurer and on the financial situation of the
            Condominium.
            --- (d) The Secretary will attend all the meetings of the Council of
            Owners taking a record from all The subjected Matters to voting and
            The minutes and taken agreements of all the dockets in a book
            paymaster to such an effect. He/she will give or he/she will do to
            give, by means of the Administrator. the notice of all The meetings
            of the Council of Owners, of The Meeting of Directors when it
            requires this way It this Regulation, and he/she will carry out all
            the functions that it indicates him The Meeting of Directors.
            ARTICLE V
            --- SECTION 5.1 THE ADMINISTRATOR
            --The Administrator will be named for to the Council of Owners for
            majority of votes. being able to be a Corporation or an individual
            to assure The appropriate administration of the Condominium. Equally
            the Council of Owners will be able to remove it of its position,
            also for majority of votes.
            --- SECTION 5.2 THE ADMINISTRATOR'S QUALITIES--
            20
            --- (a) They will have a properly organized office to be in charge
            of and to fulfill their obligations.
            --- (b) They will Show tests of possessing reasonable experience in
            this field.
            --- (c) They will have the personal necessary pear to fulfill their
            obligations, especially to assist the property during twenty-four
            hours, in the event of emergency.
            ----(d) he/she will Lend deposit to assure their administrations in
            the quantity indicated by the Council of Owners.
             ---SECTION 5.3 THE DUTIES AND OBLIGATIONS OF THE ADMINISTRATOR
            --- The Board of Directors will transfer the following duties to the
            Administrator, who will be responsible for:
            --- (a) In accordance with the Council of Owners and/or of the Board
            of Directors, will authorize all the contracts and other negotiated
            documents on behalf of the Condominium Association.
            --- (b) Will charge all the due quantities to the members of the
            Council of Owners and will pay all debts.
            ----(c) On behalf of the Council of Owners, will hire and will
            discharge all personnel. Will be responsible for their working hours
            and compensation. Will maintain the records and will file all the
            reports with regard to personnel.
            --- (d) Will look after the execution of the by-laws.
            --- (e) Will keep all records and will prepare all the reports
            required by the Laws of Commonwealth of Puerto Rico or the by-laws.
            --- (f) Will maintain a permanent record of the written minutes of
            all Council of Owners meetings and Board of Directors meetings,
            according to they are given it by the Secretary.
            --- (g) Will prepare an annual budget for the annual meeting of the
            Council of Owners
            --- (h) Will maintain all the accounting records of the Condominium;
            filing all the vouchers of income and expenses, and the balance at
            every moment.
            --- (i) Will open and maintain a bank account in the name of the
            Council of Owners, depositing all the revenues.
            --- (J) he/she will be responsible of the maintenance and repair of
            the common elements of the building.      
            --- (k) Will keep all accounting books. Will have bank statements,
            vouchers and lists of minutes to be examined by all the Owners, when
            they request them.   
            --- (l) Will adopt rules for the best use of the Condominium
            facilities by owners, guests or occupants.
            --- (m) In general, will exercise all the powers and will fulfill
            all the duties on behalf of the Council of Owners and/or the Board
            of Directors, except those specifically reserved to the Council of
            Owners and/or the Board of Directors, by the Laws of Puerto Rico or
            the by-laws.
            --- (n) The abilities herein conferred to the administrator will be
            able to be revoked, modified or enlarged by the Council of Owners in
            a meeting taken place to the effect.
               22
                        
            ARTICLE VI
            RIGHTS AND DUTIES OF THE OWNERS
            SECTION 6.1 REGULATION FOR THE USE OF THE UNITS: VIOLATIONS
            --- The use and enjoyment of each unit will be subject to the
            following rules;
            --- (a) Each unit will be dedicated only to residential use.
            --- (b) No occupant of an unit will be able to do unnecessary noises
            neither to cause nuisances, neither to carry out acts that The Peace
            of the other Owners or tenants could perturb.
            --- (c) The units won't be used for ends contrary to the law, The
            morality or the public order.
            ----(d) Each Owner will carry out his cost the modification
            projects, repairs cleaning, security and improvements of his unit,
            without perturbing the rights of the other Owners. or without
            changing the external form or the facades, or without painting the
            external walls, doors or windows of colors or tones different from
            those of the total building.
            --- (e) Each Owner or occupant will fulfill the dispositions
            contained in the main deed strictly, and in This Regulation and in
            the amendments agreed by the Council of Owners.
            --- (f) No occupant of an unit will be able to vary The facade
            and/or external of his unit without the consents of the joint
            owners' of the building each and every one, this includes that the
            joint owners won't be able to install grills, neither they will be
            able to install additional grills or above the existent ones, or in
            the areas of terraces, in the area in front of the communal areas of
            the stairways (balconies) or in any other area. They will be able to
            settle grills inside of the windows of the apartments, only. The
            joint owners won't be able to do hollow of class some in the walls,
            to install airs conditioning. since it would be affected the facade
            and the structure of the buildings.
            - (g) No joint owner will be able to against the will unanimous of
            the other ones, to build new floors, to do basements or excavations
            or to carry out projects that affect the security, solidity and
            conservation of the buildings.
            --- (h) All Owner will come under obligation to carry out in his
            property those projects and repairs whose omission could harm the
            building in its entirety or the part belonging to other Owners.
            
            --- (i) All Owner will respond for the acts of his visitors.
            employees or tenants that are in violation of The Law of horizontal
            Property or of This Regiment.
            --- (j) projects won't be done or they will keep objects in an unit
            or apartment or in The Common Elements that it can increase the Cost
            of the applicable insurance for residential use of the Condominium
            without the previous consent in writing of the Council. No Owner
            will allow him to be carried out or keep something in his unit or in
            The Common Elements. that he/she can result in the cancellation of
            the insurance of the Condominium or of their content or that it can
            constitute a violation of any of The Horizontal Deed or of this
            Regulation. No waste will keep in the Element Commons. ----
            24
            --- (k) The units or apartments will be let entirely. being
            prohibited the rent of rooms or on one side of the unit. Any lease
            contract should prepare that the rent and the tenant will be subject
            to the law of Horizontal Property, to The Deed of Régime of
            Horizontal Property and this Regulation and that any non fulfillment
            for the lessee of the ends of these norms will be considered a non
            fulfillment in the lease contract that, independently of the legal
            stocks that you/they concern the lessor, it will authorize to The
            Meeting of Directors to take the pertinent legal stocks so that the
            non fulfillment is corrected, or in its case, to demand the
            termination of the lease. All lease will be in writing.
            --- (1) except for the equipment of the care of the green Areas,
            used by people or entities responsible for the maintenance of the
            green areas of the condominium, no motor vehicle will be been able
            to use or to keep in the green Area, or in the sidewalks of any unit
            and any vehicle without license will be admitted in the condominium.
            --- (m) The garbage will be deposited in the units or in The Common
            Elements assigned for that purpose. The garbage won't be taken out
            of the apartment until the night before its collection and the
            zafacones they will be placed immediately of turn in its place after
            they empty.
            25
            ----(n) the breeding of animals of any type is prohibited, included
            the birds, in the properties of the condominium, be communal or
            private. The owner of a mascots will be responsible that the same
            one doesn't cause noises, nuisances or inconveniences to the
            residents of the condominium. It won't be allowed that the domestic
            animals or mascots stroll or remain in the common areas of the
            condominium. If the mascot is outside of the apartments, she will
            have to be accompanied and you/he/she lowers the control of an
            adult. The owner of the mascot will be the only responsible for the
            damages that she can cause y at home that the condominium has to
            respond to somebody for this damages, the owner of the mascot and
            the owner of the apartment where the same one is harbored they will
            respond him mutually to the condominium and they will reimburse any
            sum that This has had to spend, included the legal expenses, as
            consequence of the damages or inconveniences caused by such an
            animal. The Council will be entitled the of ordering any person
            whose mascot is a nuisance that removes it of the Condominium.
            --- (or) Any scrap or another vehicle whose plates of they
            registered they don't appear shown, he/she will be able to keep in
            The Common Elements of the Condominium. It is absolutely forbidden
            to carry out works of mechanics of automobiles or of repairs that
            are not smaller and of emergency., in the properties of the
            condominium, be common or private. ----
            --- (p) they won't keep commercial vehicles. crawl or trucks of but
            of two tons in the properties of the Condominium, except disposition
            in contrary of the Council of Owners.
            26
            --- (q) he/she prohibits to keep any structure of seasonal
            character, hut, shack or cabin., in The Common Elements of the
            condominium in any moment. He/she prohibits to couch or to dry
            clothes in The common areas or in the patios or balconies of The
            apartments.
            --- (r) The sidewalks, walks, accesses, lobbies and other utilized
            areas to arrive to the parking spaces and the units or recreational
            facilities won't be obstructed neither they will be used in way some
            that is not to have access of or toward this areas or facilities.
            --- (s) unless it Joins it designates a portion it specifies of a
            Common Element for this purpose. no portion of such a Common Element
            will be used for warehouse or to keep furniture or any other
            article. This prohibition includes the seasonal storage of boxes,
            purchase shopping carts or similar equipment. Neither they will be
            been able to use The Common Elements to sustain meetings of any
            class, without the expressed permission in writing of the Meeting or
            the Administrator, as it is the case.
            --- (t) Any Owner neither their agents, employees or visitors will
            be able to in any moment to bring or
            to maintain in the unit any material or inflammable chemical
            substance or explosive except those of normal domestic uses.
            --- (u) Any Owner or occupant of an unit or apartment will carry out
            to it will allow them to be carried out by itself or for its family
            friends, tenants, employees, servants or guests so much in The
            Common Elements As in its unit or apartment noises agitators.
            Neither it will allow that some of them takes to end activity or act
            some that interferes with the rights, and comforts of the other
            Owners or occupants. Any owner or occupant will play neither it will
            allow that musical instruments are played, I radiate, television,
            equipment, stereo and/or of music and/or similar equipment in an
            unconscionable way that perturb or bother the other Owners or
            Occupants.
            --- (v) it is forbidden to shake carpets in The Common Elements
            neither it will be swept powder or garbage from an Unit until The
            Common Elements. The Owners and occupants will deposit The garbage
            in the designated areas for her and in the provided recipients for
            them in this areas
            --- (w) No person will be allowed to play in The Common Elements
            that are not designated specifically as recreational area or of game
            --- (x) The repair of any damage to a Common Element as a result of
            moving to load furniture and other articles will be for account of
            the Owner or of the in charge person of this article that causes
            this damage.
            --- (y) objects of any class won't hurtle for the windows or doors
            of the apartments. toward the common areas or toward other units.
            Neither objects will be suspended in the window or doors of any
            apartment.
            28
            --- (z) The Owners and occupants in general won't always act so that
            their Behavior it doesn't interfere with the rights, the comfort,
            and convenience and security of the Owners and of the occupants of
            the units
            ----SECTION 6.2 THE CONTRIBUTIONS FOR THE PAYMENT EXPENSES OF
            ADMINISTRATION AND MAINTENANCE
            --- (to -) The Owners of the units put under an obligation to
            contribute in their proportional part to The expenses administration
            common and maintenance and repair of the elements general common,
            including the payment of the insurance of the building and, in the
            appropriate cases, of the limited elements Commons, if some, of the
            building, and it stops any other legally conventional expenses
            --- Also, they will contribute to a reserve fund for operation and
            maintenance of the building, which will keep in an account of he/she
            reserves in favor of the Association of Joint owners of the
            Condominium The Los Almendros. The quantity specified to augment
            this funds will be paid to the moment of the grant of the
            corresponding deeds of sales.
            --- (b) The common expenses include, but they are not limited to:
            (1) insurance premiums per responsibility, damage to the property,
            repairs and reconstruction work in the event of hurricane, fire,
            earthquake or another risk; (2) Expenses for the maintenance and
            repair of General Elements Commons and in the appropriate case of
            the Limited Element Commons; (3) The maintenance, security and costs
            of the controlled access, which can be imposed on each unit, for the
            Administration, as it is indicated specifically in the license
            agreement among the developed one and
            29
            the Corporation, actual the fifteen (15) of August of thousand nine
            hundred ninety five (l995). it copies of this agreement it is
            available for inspection for the owners of The unit in the office of
            the Council; (4) Administrative expenses; (5) audit Expenses, legal
            and administrative; (6) you Reserve for substitutions or other
            expenses of another nature; (7) Contracts of service and wages;
            (8) I pay of accounts and common expenses; (9) any other legal
            expense agreed by the Council.
            --- (c) No Owner will be able to exempts of contributing for such
            expenses for resignation the use or enjoyment of The Common
            Elements, neither for abandonment of his unit.
            --- (d) The person that acquires an unit will be responsible joint
            and mutually with the previous proprietor for The amounts due for
            this last one, for her contribution to the administration general
            expenses and maintenance until the transfer moment, without
            prejudice of The person's rights she acquires to recover of the
            other part the sums paid by him.
            --- (e) The proportional quantity with which each Owner should
            contribute to the common expenses it will be determined, it will fix
            and it will impose at the beginning of every year calendar and it
            will fall due and it will be payable in monthly terms. The
            relationships of accounts by concept of administrative expenses and
            maintenance will be monthly correspondents to each Owner for the
            Administrator for their payment. The quantities indicated in this
            relationships will fall due and they will be payable at the ten (10)
            days after correspondents.
            30
            In the event of payment Lack. The Meeting of Directors will take
            action to make collection. Preparing that the quotas that the Owners
            don't cover against of the fixed term for their payment will yield
            interests to the legal maximum type and that the lack of pay of
            three or more serial terms will bear an equivalent additional
            penalty to one percent (1%) monthly of the owing total. The
            delinquent Owner will be required of payment by means of registered
            mail with acknowledgement of receipt and of not making the payment
            in the term of fifteen (15) days, he will be been able to demand for
            the judicial route according to the procedures settled down by the
            law of Horizontal Property, according to amended, being able to
            decree for the Tribunal the lien of the debtor's goods or debtors
            without another requirement that the presentation of a certification
            sworn by the President and Secretary of the Council of Owners in
            that the agreement that approved the eligible expense and its
            quantity, consists as well as, the administration of pay requirement
            according to right. -
            --- When the owner owes three serial or more installments, or be
            behind in six months or more in the payment of one it spills.
            independently of the number of apartments that possesses, he/she
            will be been able to deprive of any service included water, light,
            cable TV, etc. that uses facilities, equipment to communal Areas,
            and this services won't be restored until he/she pays the entirety
            of that owed. Of equal it forms, if it reflects a state of debts
            like the one described previously will lose the right to vote in the
            assemblies of the Council of Regular and it won't recover this right
            until, have paid the entirety of that owed.
            31
            --- In those cases in that the delinquent Owner has leased his unit,
            one will be able to obtain Order of the Tribunal so that the lease
            consigns judicially in favor of the Condominium The Los Almendros
            The total quantity for concept of lease cánones, Until covering the
            Owner's debt totally.
            --- (f) In any moment that the accounts of the Condominium indicate
            a deficit, The Meeting of Directors will be able to propose an extra
            quota to be charged proportionally to all the owners in order to
            provide the necessary funds to confront them. for any extra
            contribution it will be been able to impose neither to be charged
            unless The same one has been previously subjected to, and approved
            for, Most in a special meeting of the Council of Owners summoned for
            it.
            --- (g) Any Owner that should more than three (3) months of the
            maintenance expenses. he/she won't be able to vote in The general
            meetings of The Owners.
            --- (h) A bulletin board of notices will be installed in the lobby
            for the notices of general interest.
            --- (i) The payments for the administrative expenses and maintenance
            of the Condominium, are of responsibility of the Owner from the date
            of the deed of sale of the unit, without caring that the same one is
            occupied or not.
            --- (j) The Meeting of Directors will be able to, of this way to
            estimate it convenient to determine the contraction of a person for
            the collection of maintenance quotas, by means of it determines
            retribution, previously arranged, for such services.
            32?
            --- SECTION 6.3 PEOPLE WITH RIGHT to USE THE AREAS
            --- (a) The private Areas will be been able to only use for the
            respective owners from the Condominium to previous expressed
            permission of this owners.
            --- (b) The General Elements Commons will be been able to use for
            each agreement Owner with the purpose for which you/they were
            dedicated without to bother neither to limit the rights of the other
            Owners.
            --- (c) The Limited Elements Commons if some. They will be been able
            to Only use for the Owners of the units to who is assigned or it
            foresaw specific permission of this owners.
            --- (d) nevertheless what precedes, all the areas of the building
            will be been able to use, with previous notice, to without notice in
            the event of emergency, to carry out a maintenance service and
            repair of any childbirth of the building, and the Titilares whose
            negligence or performance caused damages to other units, they will
            be responsible for the repair of the same ones.
            --- SECTION 6.4 SALE OR TRANSFERENCE
            --- In the event of sale to transfer of The unit. the Seller will
            should:
            --- (a) to Do to consist in The deed of sale and/or in the sale
            contract or transfer instrument that the acquiring Buyers has Read,
            they understand and they agree to fulfill the law, the horizontal
            Deed and this Regulation.
            33
            (b) to Demand a declaration in writing from the Buyer recognizing
            and accepting that according to the Law, when acquiring the unit him
            or her and the Seller they are mutually responsible for any quantity
            that the Seller owes to the Council to the moment of the sale or
            transfer. This section won't limit any right that has the one Buyer
            he/she acquires toward the Seller to recover. any money paid in
            satisfaction of debts related to periods previous to the transfer of
            the unit.
            --- SECTION 6.5 MAINTENANCE AND REPAIR
            -- All Owner will reimburse quickly to the Council for the cost from
            any repair to any required General or Limited Common Element as a
            result of a negligent act or omission of this Owner or occupant.
            their employee, servant, agent, visitors or family.
            --- SECTION 6.6 RIGHT OF ENTRANCE
            --- Previous requirement, each Owner will allow to another Owner to
            his representative to enter to his unit if the facilities,
            alteration or repairs to the electric services or mechanics to the
            unit of which requests the entrance cannot be made unless he is
            allowed this entrance. The petition will be done in advance and so
            that at the time of entrance it doesn't cause It any inconvenience
            to the Owner that allows the entrance. If the Owner of the unit that
            the admitted one the entrance suffers some damage or loss in its
            property as a result of an act or the person's omission that he/she
            enters to the unit.
            34
            this Owner will be able to present a reclamation before the Council,
            through the Administrator or the President, to recover any and all
            damage losses suffered by this Owner.. Any Owner. lessee or occupant
            of an Unit will be able to take any legal action against any person
            or personas that enter in his unit, under the appropriate provisions
            under the laws of Puerto Rico., to recover any damage or losses
            caused by the act or this person's omission or people.
            --- SECTION 6.7 INSPECTION OF THE UNIT
            --- Each Owner will allow the right to enter to his unit to the
            Administrator or another person authorized by him or her to make
            those inspections or to carry out repairs that you are necessary to
            prevent damages to the other units, the General Elements Commons or
            Limited Elements Commons of the Condominium. Such inspections and/or
            repairs will be done or made at one hour and in a convenient way to
            the Owners and occupants of the unit.
            ARTICLE VII -
            COMMITTEE OF ARCHITECTURAL CONTROL
            --- SECTION 7.1 OPERATION
            --- The Committee of Architectural Control will be made up of an odd
            number of 3 to more regular natural designated for to the Council in
            the annual meeting.. The members of the Committee of Architectural
            Control will work without compensation unless the Council, to the
            moment in that The members Committee are designated prepares
            otherwise. In the case in that the Council didn't designate a
            Committee of Architectural Control. then The Meeting will constitute
            the Committee of Architectural Control.
            35
            --- If the Council authorizes it, the Committee of Architectural
            Control will be able to hire the services of architects, engineers.
            gardeners (Landscapers), surveyors and technical personnel's type
            that he/she understands each other necessary for the complete
            execution of the obligations that specifies this Article VII, and
            this personnel's cost will be included as an expenditure item in the
            budget. He votes affirmative of most of the members of the Committee
            of Architectural Control it will be required to be able to adopt or
            to promulgate any rule or regulation or to do any decision,
            determination, regulation or order, or to emit any Permission.
            consent, authorization and/or approval that this of agreement with
            the authority that provides this article.
            --- Section 7.2 RESTRICTIONS TO THE CHANGES
            36
            --- Except for maintenance purposes and appropriate or otherwise
            admitted repairs had required by law, The Horizontal Deed or this
            Regiment, subject to the exception specified in the Section Seven of
            this Article. he/she is prohibited to any Owner. to install, to
            erect. to hit, to apply, empañetar. to put hinges, to drill. to
            nail, to screw, to build. to alter, to remove or to install lights
            or systems of illumination, curtains, awnings. grills. decorations.
            grates. walls, antennas. objects to transmit or to receive
            television signs or radio. satellite plates, wood, sidewalks.
            channels, patio, balconies, terraces, entrances or to do any change
            or to alter in any possible way (including the color) the exterior
            of any unit to any Element Common of the Condominium to combine to
            otherwise to unite two to more units or parts of these. or the
            partition of the same one or to remove or to alter any window or
            external door of any unit or to do any change or alteration in some
            unit which alters the structural integrity of the contiguous unit
            and/or of The Common Elements or that otherwise it affects the
            interests or the well-being of any other Owner, or materially
            increase the operating cost or of the insurance of the Condominium.
            or perturb any servitude, while the Architectural Committee is
            studying the application of changes that the interested owner in
            carrying out them will Subject to the Committee. Such an application
            that will have to be done in writing, will come accompanied by the
            complete plans with its specifications, indicating the localization,
            nature and it forms of the changes (included, without limitation,
            any other information specified by the Committee of Architectural
            Control). They won't be been able to begin the projects until such
            time to the changes the application it has been approved in writing.
            Change some won't be approved that affects The security or The
            harmony of the design, color and localization with relationship to
            the structures that surround it and the topography that perturbs the
            servitudes, or that it affects the maintenance costs or of the
            insurance of the condominium. ..
            --- Anything of that provided in this Section to in this Regulation
            it will be interpreted as a relief to any Owner of obtaining the
            Owner's consent or Owners of the Condominium The Los Almendros, when
            it requires this way it the Law, the deed shade or this Regulation.
            --- SECTION 7.3 APPROVALS
            ----Before the approval for the Committee of Architectural Control
            of any plan and presented specifications of agreement with the
            provisions of this Article, a copy of this plan and Specifications,
            according to approved, it will be done to form part of the permanent
            records of the Committee and a copy of this plan and specifications
            containing such an approval, in writing, he/she will be a
            correspondent to the solicitor that subjected The same one. In case
            the Committee of Architectural Control failed in approving to
            disapprove any subjected application of agreement with there are
            provisions of this Article against of 45 days after the plans and
            specifications and all other material and information required by
            the Committee of Architectural Control have been subjected in
            writing, then The approval will understand each other refused. The
            owner that is not according with this denegatoria will be able to
            appeal before to the Council of Owners, body that will have the last
            word regarding if it is authorized or not the requested change.
            --- SECTION 7.4 LIMITATIONS
            38
            --- The construction of agreement modifications with the plans and
            specifications approved by the Committee of Central Architectural in
            harmony with The provisions of this Article will begin to date in
            the 6 following months in that the same one is approved by the
            Committee of Architectural Control. or in their case for the Council
            of Owners, (either for affirmative action or for action prohibition)
            and it will be completed to date in the 12 following months of their
            Beginning or in the period that the Committee of Architectural
            Control or the Council have specified in their approval. In the case
            in that the construction you doesn't begin in the specified period,
            then the approval of the plan and of the specifications you
            considered definitively refused and it will be required to fulfill
            the Section again 2 of this article. There won't be deviations of
            the plans and specifications approved in writing by the Committee of
            Architectural Control without the previous consent of the Committee.
            the approval of any plan to specifications in particular, or I
            design, it won't tie to the Committee regarding later applications
            neither it will prevent that the Committee refuses in a future the
            same designs or changes. In these houses, however, the Committee
            will justify the denegatoria.
            --- SECTION 7.5 CERTIFICATE OF EXECUTION
            --- To the termination of any construction or alteration of other
            improvements or agreement structures with the plans and
            specifications approved by the Committee of Architectural Control in
            agreement with the dispositions of this article VIII, the Committee
            will should, to application of the owner, to emit an execution
            certificate, which will be prima facie evidence that this
            39
            construction, alteration or improvements indicated In the
            certificate have been approved by the Committee of Architectural
            Control and that they were built or installed in execution of the
            dispositions of this Article.
            --- SECTION 7.6 RULES
            --- The Architectural control Committee will be able to of time in
            time to subject to the Council of Owners for its approval the rules
            and regulations with relationship to the form, architectural
            particulars, content of the plans and specifications or any other
            related matter that it is considered necessary or appropriate to be
            subjected for approval. The rules, guides and norms this way
            approved they will be published for knowledge of all the owners. Any
            rule or regulation, declaration or approach will be interpreted as a
            relief to the provisions of this article or any other provisions or
            requirement of the Regulation. The Committee of Architectural
            Control will be able to charge a reasonable quota for the exam of
            any plan and of the subjected specifications for agreement approval
            with this Article. The decision of the Committee of Central
            Architectural it will be final, except in the case in that some
            Owner is increased by any action or prohibition of the Committee of
            Central Architectural, in which case the Owner will be able to
            appeal before the Meeting, and before this Owner's application, he
            will be entitled to a view before the Meeting.
            --- SECTION 7.6 EXCUSE 40
            --The dispositions of this Article won't apply to it unites unit
            possessed by COMAG DEVELOPMENT while it is used as model or offer
            for the sale and until the title of the unit is transferred the
            corresponding buyer.
            ARTICLE VIII
            --- FOR AMENDMENTS TO THE REGULATION AND PROCEDURE FOR DECISIONS
            THAT REQUIRE UNANIMITY:
            --- SECTION 8.1 The present Regulation will be able to be amended,
            altered or repealed in meeting by third two parts of all the Owners.
            When is not able to obtain the approval of the third two required
            parts, in the meeting summoned for that purpose, approved the
            agreement for a smaller number. but that it constitutes a majority
            of the present Owners, the Secretary it will notify those Owners
            that properly mentioned has not attended, by means of notification
            sent certificate by mail with acknowledgement of receipt with copy
            faithful and exact of the one he/she agrees taken to the registered
            address with the administrator or in address absence, to the unit of
            the one that is Regular, preparing them expressly that their
            conformity or discrepancy inside the granted term and in the form
            proscribed, will be here in favor of the agreement. The taken
            agreement and the amendments, alterations or repeals to the
            Regulation are executable so soon the approval of the third two
            parts of the Owners is obtained.
            --- SECTION 8.2 UNANIMITY
            41
            --- When all the present Owners in a meeting summoned to take an
            agreement that requires unanimity. adopts this agreement. those
            Owners that properly not mentioned assisted hubieren they will be
            notified in the outlawed form it is the Section 7.1 previous and if
            in the term of thirty (30) days to count of this notification
            doesn't manifest in the same form their discrepancy they will be
            linked by the agreement that won't be executable until such a term
            lapses, save that before manifests its conformity. The adhesion in
            writing to the resolution where it consists the agreement it will
            imply that said owner was notified properly.
            ARTICLE IX
            GENERAL DISPOSITIONS
            --- SECTION 9.1 The nullity of any of the dispositions of the
            present way Regulation some will invalidate or it will affect the
            validity. execution or effects of the remaining dispositions.
            ----SECTION 9.2 Any restriction. condition, obligation or
            disposition contained in this Regulation will understand each other
            repealed or resigned by reason of the non execution of the same one.
            independently of the number of violations or non fulfillments that
            can happen.
            --- SECTION 9.3 The present regulation you the one composed to give
            execution to the preceptuado for the Law Number Hundred Fifty Seven
            (157) of four (4) of June of thousand nine hundred seventy six
            (1976), according to amended. and according to This he/she unites
            and it is done to be part of the Main Deed as Annexed A..
            --- SECTION 9.4 Everywhere that it is indicated the word Condominium
            or building the same one of he/she refers to the condominium The Los
            Almendros.
            42
            --- Of conformity with the before exposed in this Regulation, the
            owner of the CONDOMINIUM THE LOS ALMENDROS, it signs the same one in
            Mayaguez, Puerto Rico. at thirteen (13) of April of the year two
            thousand (2000).
            COMAG DEVELOPMENT, INC.
                 I testify it Numbered: 20,680
            --- subscribed the Regulation that precedes for COMAG
            DEVELOPMENT, before me INC., , an organized and existent corporation
            the assistance of the Laws of the Free State Associated of Puerto
            Rico, represented in this act By their President, of age, proprietor
            and neighbor of Guaynabo, Puerto Rico. properly authorized to appear
            document presently, to who GIVE FAITH of knowing personally in
            Mayaguez,, Puerto Rico, this day the thirteen (13) of April of the
            year two thousand (2000).
            NOTARY PUBLIC
            
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