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THE' BLUFFS of E LK RIVER CONDOMINIUM ASSOCIATION <br />AMENDED AND RESTATED BYLAWS - <br />SECTION i <br />GENERAL <br />The following are the Amended and Restated Bylaws (the "Bylaws") of The Bluffs of <br />Elk River Condominium Association, a Minnesota nonprofit corporation (the.,"Association!'). <br />The Association is organized pursuant to Minnesota Statutes Chapter 31'7A, and Section 515B.3w <br />101 of the Minnesota. Con mon Interest ownership Act (the "Act"), for the purpose of operating <br />and managing The Bluffs of Elk -River Condominium, a condominium created. pursuant .to the <br />Act. ' The terms used in these Bylaws shall have the same meaning as they have in the <br />Declaration of The Bluffs of Ells River Condominium (the "Deelaration ") and the Act. <br />References to Section numbers shall refer to sections of those Bylaws, unless expressly otherwise <br />indicated. <br />SECTION 2 <br />MEMBERSHIP <br />11 Owners Defined. All persons described as owners in Section 4 of the Declaration <br />shall be Members. No Person- shall be a Member solely by reason of holding a security .interest <br />in a Unit. A Berson shall cease to be a Member at such time as that person is no longer an <br />Owner. <br />2.2 T .e stration _ of owners and occLipan�ts. An owner shall register with the <br />Secretary of the Association, in Ming, (i) the name and address of the owners and any <br />Occupants of the Unit; (ii) the nature of such owner's interest or estate in each Unit owned; <br />(iii) the address at which the Owner desires to receive notice of any meeting of the Owners, if <br />other than the Unit address; (iv) the name and address of any Mortgagee with respect to the Unit; <br />and _(v) the name of the owner entitled to cast the vote allocated to the Owner's Unit. Each <br />Owner shall have a continuing obligation to advise the Association in wil"ting of any changes in <br />the foregoing information. <br />23 Transfers. The interests, xlghts and obligations of an owner in the Association <br />may be assigned, pledged} encumbered or transferred, but only along with and as a part of the <br />title to the Owner's Unit or as othem'se specifically authorized by the Governing Documents or <br />by law. <br />SECTION 3 <br />VOTING <br />1I Entitlement. votes shall be allocated to each Unit as provided in the Declaration. <br />However, no vote shall be exercised as to a Unit while the Unit is owned by the .Associati.on. <br />MPLS -word 202367.2 <br />