By-Laws of Harbour Vista Homeowners’ Association, Incorporated (July 7, 1980)

These By-Laws may be amended by the Association by the vote or written consent of Members, representing at least (1) a majority of the voting power of each class of the Members, and (2) a majority of the voting power of the Association residing in members other than Grantor; provided that the specified percentage of each class of the Members necessary to amend a specific Section or provision of these By-Laws shall not be less than the percentage of affirmative votes prescribed for action to be taken under that Section or provision. The prior written approval of seventy-five percent (75%) of all institutional holders of first deeds of trust of record made in good faith and for value on a Condominium in the Project must be secured before any amendment to these By-Laws affecting matters set forth in Article XII of the Declaration may take effect, and this sentence may not be amended without such prior written approval. The term "instructional holder" as used herein shall mean a Mortgagee which is a bank or savings and loan association or established mortgage company, or other entity chartered under federal or state laws, any corporation or insurance company , or any federal or state agency.

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