DECLARATION OF TRUST OF JEFFREY AMHERST MANOR CONDOMINIUM TRUST AND BY-LAWS DECLARATION OF TRUST made this 7th day of February, 1981. by MILES A. SEAVER.(the "Trustee"). (which term and any pronoun referring thereto shall be deemed to include his successors in trust hereunder and to mean the Trustee or the Trustees of the time being hereunder wherever the context so permits). The business address of said Trustee is as follows: 61 Hillcrest Place Amherst, Massachusetts 01002 ARTICLE I Name of Trust The Trust hereby created shall be known as JEFFREY AMHERST MANOR CONDOMINIUM TRUST (the "Trust" . Under that name. so far as legal, convenient. and practicable. all business shall be conducted by the Trustee and all instruments in writing shall be executed by the Trustee. ARTICLE II The Trust Purposes : ‘ Section 2.1. Unit Owners' organization . All of the ‘ rights and powers in and with respect to the common areas and facilities (the "Common Areas and Facilities") of JEFFREY AMHERST MANOR CONDOMINIUM (the "Condominium") established by a Master Deed recorded herewith (the "Master Deed") with the Hampshire County Registry of Deeds (the "Registry of Deeds") which are by virtue of the Massachusetts General Laws. Chapter 183A. as amended . ("Chapter 183A"). conferred upon or exercisable by the organization of the Unit Owners of said Condominium, and all property. real end personal. tangible and intangible. conveyed to the Trustee hereunder shelf vest in the Trustee in trust to exercise manage, administer and dispose of the same, and to receive the income thereof (a) for the benefit of the owners of record from time to time of the Units of the Condominium in the Common Areas and Facilities according to the schedule of undivided beneficial interest set forth in Article IV hereof (the "beneficial in- terest"). and (b) in accordance with the provisions of Section 10 of Chapter 183A for the purposes therein set forth. This Trust is the organization of Unit Owners established pursuant to the provisions of Chapter 183A for the purposes therein set forth. Section 2.2. Not a Partnership . It is hereby declared that a trust and not a partners p as been created and that the Unit Owners are beneficiaries. and not partners or associates nor in any other relation whatever between themselves with respect to the Trust property. and hold no relation to the Trustee other than of beneficiaries. with only such rights as are conferred upon them as such beneficiaries hereunder and under and pursuant to the provisions of chapter 183A. ARTICLE III M Section 3.1. Number. After the Operating Event as hereinafter described. there shall at all times be Trustees, consisting of such number. not less than three (3), nor more than five (5). as shall be determined by vote of more than fifty (50) per cent of the beneficial interest hereunder, except that there shall always be an odd number of Trustees. Until JEFFREY AMHERST MANOR, INC.. the creator of the Condominium. and its successors or assigns (the "Sponsor“) owns less than nine (9) Units of the Condominium. or until four (4) years from the date hereof, whichever occurs first (the "Operating Event"). there shall be not more than one (1) Trustee and such Trustee shall be designated, appointed, and/or elected by the Sponsor. Within sixty (60) days after the occurrence of the Operating Event. the Trustee than in office shall tender his or her resignation and his or her office shall be deemed vacant so as to permit such vacancy to be filled in the manner hereinafter provided. In the event that said resignation is not tendered pursuant to the preceding sentence. then said office shall automatically be deemed vacant on the seventy-fifth (75th) day after the Operating Event, and such vacancy shall be filled in the manner hereinafter provided. Section 3.2. Term. The term of each Trustee shall be for one (1) year from the annual meeting of Unit Owners (or special meeting in lieu thereof) at which the Trustee was appointed and shall end at the annual meeting (or special meeting in lieu thereof) at which time Trustee s successor is due to be appointed except that the term of any Trustee appointed to fill a vacancy in an unexpired term shall end when his or her predecessor‘s term would. but for the vacancy. have ended. The term of the original Trustee shall end as follows: at the end of four (a) years from the date hereof. or until successors are elected pursuant to the term hereof. Section 3.3. Vacancies; Appointment and Acceptance of Trustees). If and whenever any trustee's term expires or for any other reason. including without limitation, removal, resignation or death of a Trustee. the number of Trustees shall be less than the number established under Section 3.1, a vacancy or vacancies shall be deemed to exist. Such vacancy shall be filled by (a) an appointment of a natural person to act as such Trustee (i) by an instrument signed by the Sponsor, or (ii) if after the Operating Event. by vote of Unit Owners holding more than 501 of the bane benificial interest hereunder. or (iii . if, after the Operating Event, Unit Owners holding such percentage have not within thirty (30) days after the occurrence of such vacancy made such a appointment. y a majority of the then remaining Trustee(s§, or by the remaining Trustee or Trustees, it only one (at any time), and (b) the acceptance of such appointment, signed and acknowledged by the person so appointed. Such appointment shall become effective upon the filing with the Registry of Deeds of a certificate of such appointment signed (1) by the Sponsor. or (2) if, after the Operating Event; by majority of the then remaining Trustee(s). or by the sole remaining Trustee. if only one, setting forth the fact and basis of compliance with the provisions of this Section 3.1. together with such acceptance; and such person shall then be and become ‘such Trustee and be vested with the title of the trust property jointly with the remaining or surviving Trustee or Trustees without the necessity of any act of transfer or conveyance. If there shall be no remaining Trustee and a vacancy in the office of Trustee shall continue for more than sixty (60) days and shall at the end of that time remain unfilled, a Trustee or Trustees to fill such vacancy or vacancies may be appointed by any court of competent jurisdiction upon the application of any Unit Owner and notice to any Unit Owners and to such other, if any, parties in interest to whom the court may direct that notice be given. The foregoing provisions of this Section notwithstanding despite any vacancy in the office of Trustee, however caused and for whatever duration. the remaining or surviving Trustee(s) shall continue to exercise and discharge all of the powers, discretions and duties hereby conferrer or imposed upon the Trustees. Section 3.4. Trustee Action. In any matter relating to the administration of the trust hereunder and the exercise of the powers hereby conferred, the Trustees shall act by majority vote at any duly called meeting at which a quorum as defined in Section 5. .1, is present. The Trustees may act without a meeting in any case by unanimous written consent and in cases requiring, in their sole judgment, response to an emergency by majority written consent. Notwithstanding the preceding language. any instrument signed by a majority of those Trustees appearing from the records of the Registry of Deeds to be such. shall be conclusive evidence in favor of every person relying thereon or claiming thereunder. that at the time of delivery thereof, the execution and delivery of that instrument was duly authorized by all Trustees: and any instrument signed by any one or more Trustees which contains or is accompanied by a certification that such Trustee or Trustees were, by appropriate vote of the Trustees, authorized to execute and deliver the same, shall in like manner be conclusive evid- ence in favor of every person relying thereon or claiming thereunder. Section 3.5. Resignation; Removal. Any Trustee may resign at any time by instrument n in writing t ng signed and duly acknowledged by that Trustee. Resignations shall take effect upon the recording of such instrument with the Registry of Deeds.Subject to the rights of Sponsor to designate Trustees of its own choice. any Trustee may be removed with or without cause by vote of Unit Owners entitled to more than fifty per cent (50%) of the beneficial interest hereunder. The vacancy resulting from such removal shall be filled in the manner provided in Section 3. . Any removal shall become effective upon the recording with the Re registry of Deeds of a certificate or removal signed by a maj- or ty of the remaining Trustees in office, or by three Unit Owners. who certify under oath that Unit Owners holding more than fifty per cent (50.) of the beneficial interest hereunder er have voted such removal. By instrument recorded with the Registry of Deeds. the Sponsor may remove, with or without cause. any Trustee it is entitled to designate and appoint a successor Trustee as provided in the second paragraph of Section 3.3. Section 3.6. Bond or Surety. No Trustee, whether an original, substitute. or successor trustee. shall be obliged to give any bond or surety or other security for the performance of any of his or her duties hereunder, provided, however, that the Sponsor prior to the Operating Event or thereafter. that Unit Owners entitled to more than fifty per cent (50%) of the beneficial interest of this Trust may at any time by instrument in writing signed by them and delivered to the Trustee or Trustees affected require that any one or more of the Trustees shall give bond in such amount and with such sureties as shall be specified in such instrument. All expenses incident to any such bond shall be charged as a common expense of the Condominium. Section 3.7. Com¥Compensation of Trustees). With the approval of a majority o t e trustees s , each Trustee may receive such reasonable remuneration for his services and also additional reasonable remuneration for extraordinary or unusual services. legal or otherwise. rendered by him or her in connection with the trust hereof, all as shall be from time to time fixed and determined by the Trustee(s). and such remuneration shall be a common expense of the Condominium. No compensation to Trustee(s) may be voted by the Trustee(s) with respect to the period before the Operating Event. ‘ Section 3.8. No Personal Liability. No Trustee shall under any circumstances or n any event e held liable or account able out of his personal assets or be deprived of compensation. if any, b reason of any action taken, suffered or omitted in good fair or be so liable, accountable or deprived by reason of honest errors of judgment or mistakes of fact or law or by reason of the existence of any personal or adverse interest or by reason of anything except his own personal and willful malfeasance and defaults. Section 3.9. Trustees Ma Deal With Condominium. No Trustee shall be disqualified by His office from contracting or dealing with the Trustee(s) or with one or more Unit Owners (whether directly or indirectly because of his interest individually or the Trustees' interest or any Unit Owner‘s interest in any corporation. firm. trust or other organization connected with such contracting or dealing or because 0 any other reason). as Vendor. purchaser or otherwise, nor shall any such dealing. contract or arrangement entered into in respect to this Trust in which any Trustee shall be interested in any we be avoided nor shall any Trustee so dealing or contracting or sing so interested be liable to account for any profit realized by such dealing. contract or arrangement by reason of such Trustee's holding office A? the fiduciary relation hereby established. provided the Trustee shall act in good faith and shall disclose the nature of his interest before entering into the dealing. contract or arrangement I: . ‘ Section 3.10. Indemnity of Trustees. The Trustee(s) and each of them shall he sat t c to n emn ty oth out of the Trust Property end by the Unit Owners against any liability incurred y them or any of them in the execution hereof. including without limiting the generality of the foregoing, liabilities in contract and in tort and liabilities for damages, penalties and fines. all as provided in Chapter 183A. and, acting y majority, may purchase such insurance against such liability ity as they shall determine is reasonable and necessary, the cost of such insurance to be a common ex ones of the Condominium. Each Unit Owner shall be personally lie liable for all sums lawfully assessed for his share of the common expenses of the Condominium and for his proportionate share of any claims involving the Trust property in excess thereof, all as provided in Sections 6 and 13 of Chapter 183A. Nothing in this paragraph shall be deemed to limit in any respect the powers granted to the Trustees in this Declaration of Trust. ARTICLE IV Beneficiaries and the Beneficial Interest in the Trust Section 4.1. Beneficial Interest. The beneficiaries of this Trust shall be the owners 01 Units in the Condominium as they may be from time to time. The beneficial interest in this Trust shall be divided among the Unit Owners in the percentage of undivided beneficial interest appertaining to the Units of the Condominium as set forth in Exhibit "A" annexed hereto and incorporated herein. Section 4.2. Each Unit to Vote by One Person. The beneficial interest 0 cos n t o t e on om n um shall be held and exercised as a Unit and shall not be divided among several owners of any such Unit. To that and, whenever any Unit is owned of record by more than one person. the several Owners of such Unit shall (a) determine and designate nate which one of such owners shall be authorized and entitled ed to cast votes, execute instruments and otherwise exercise the rights appertaining to such Unit hereunder. and (b) notify the Trustees of such designation by a notice in writing signed by all of the record owners of such Unit. Any such designation shall take effect upon receipt by the Trustees and may be changed at an time and from time to time by notice as aforesaid. In the a abscence of any such notice of designation. the Trustees may designate any one such owner for such purposes. ARTICLE V By-Laws The provisions of this Article V shall constitute the By-Laws of this Trust the "By-Laws") and the organization of Unit Owners established hereby: Section 5.1 Powers of the Trustees. The Trustee(s) shall have all powers and duties necessary for the adminis-tration of the offices of the Condominium and may do all things subject to and in accordance with all applicable provisions of said Che chapter 183A and the Master Deed, and, without limiting the general generality of the foregoing the Trustee(s) may, with full power: and uncontrolled discretion. at any time and from time to time without the necessity of obtaining any approval or license of any court for leave to do so: (i) to retain the Trust property. or any part or parts thereof, in the same form or forms of investment in which received or acquired by them so far and so long as they shall think fit, without liability for any loss resulting therefrom; (ii) to sell. assign. convey. transfer. exchange and otherwise deal with or dispose of the Trust property. free and discharge of any and all trusts. at public or private sale, to any person or persons for cash or on credit, and in such manner and on such restrictions. stipulations. agreements and reservations as they shall deem proper, including the power to take back mortgages to secure the whole or any of the-Trust property sold or transferred by them, and-execute and deliver any deed or other instrument in connection with the foregoing; (iii) to purchase or otherwise acquire title to. and rent. lease or hire from others for terms which may extend beyond the termination of this Trust any property or rights to property. real or personal. and own. manage, use and hold such property and such rights; (iv) to borrow or in any other manner raise such sum or sums of money or other property as they shall deem advisable in any manner and on any terms, and evidence the same by notes, bonds. securities or other evidences of indebtedness. which may mature at a time or times, even beyond the possible duration of this Trust. and execute and deliver any mortgage, pledge or other instrument to secure any such borrowing; (v) to enter into any arrangement for the use or occupation of the Trust property, or any part or parts thereof, including. without thereby limiting the generality of the foregoing, leases, subleases, easement. licenses or concessions, upon such terms and conditions and with such stipulations and agreements as they shall deem desirable. even if the same extend beyond the possible duration of this Trust; (vi) to invest and reinvest the Trust property. or any part or parts thereof. and from time to time. as often as they shall see fit. change investments, including investment in all types of securities and other property. of whatsoever nature and however denominated, all to such extent as to them shall seem proper. and without liability for loss even though such property or such investments shall be of a character or in an amount not customarily considered proper for the investment of trust funds or which does or may not produce income; (vii) to incur such liabilities. obligations and expenses and pay from the principal or the income of t e Trust property in their hands all such sums as they shall deem necessary or proper for the furtherance of the purposes of this Trust: .6- (viii) to determine whether receipt by them constitutes principal or income or surplus and allocate between principal and income and designate as capital or surplus any of the funds of the Trust; (ix) to vote in such manner as they shall think fit any or all shares in any corporation or trust which shall be held as Trust property. and for that purpose give proxies to any person, persons or to one or more of their n er. vote. waive any notice or otherwise act in respect of any such shares; (x) to deposit any funds of the Trust in an bank or trust company. and delegate to any one or more of t their number or to any ot or person or persons. the power to deposit. withdraw and draw checks on any funds of the Trust: (xi) to maintain such offices and other places of business as they shall deem necessary or proper and engage in business in Massachusetts or elsewhere; (xii) to employ. appoint and remove such agents. managers. officers. brokers. en engineers, architects. employees. servants, assistants and counsel (which counsel may be a firm of which one or more of the Trustees are members) as they shall deem proper for the purchase. sale or management of the Trust property. or any part or parts thereof. or for conducting the business of the Trust, and may define their respective duties and fix and pay their compensation. and the Trustee(s) shall not be answerable for the acts and defaults of any such person. The Trustees may delegate to any such agent. manager. officer, board. broker. engineer, architect. employee. servant. assistant or counsel any or all of their powers (including discretionary powers, except that the owner to join in amending, altering, adding to. terminating or cancling ing this Declaration of Trust and the trust hereby created shall not be delegated) all for such times and purposes as they shall deem proper. Without hereby limiting the generality of the foregoing, the Trustees may designate from their number a chairman. a Treasurer, a Secretary, and such other officers as they deem fit. and may from time to time designate one or more of their own number to be the Managing Trustee or Managing Trustees for the management and administration of the Trust property and the business of the Trust. or any part or parts t ereo 5 . (xiii) to improve any property owned by the Trust: (xiv) to manage. maintain. repair. restore and improve common areas and facilities. and when they shall deem necessary. the Un to; (xv) to determine the common expenses required for the affairs of the Condominium; (xvi) to collect the common expenses from the Unit Owners; (xvii) to adopt and amend rules and regulations covering the details of the operation and use of the common areas and facilities; (xviii) to obtain insurance covering the Condominium (including the common areas and facilities and the Units); -7- (xix) to enforce obligations of the Unit Owners and "" have the power to levy fines against the Unit Owners for violations of reasonable rules and re regulations established by the Trustees to govern the conduct 0 the Unit Owners. No fine may be levied for more than $10.00 for any one violation. but for each day a violation continues after notice, it shall be con— sidered a separate violation. Collection of fines may be enforced against the Unit Owner or Unit Owners involved as if the fines were common charges owed by the particular Unit Owner or Unit Owners. In the case of persistent violation of the rules en regulations by a Unit Owner, the Trustees shall have the power to require such Unit Owner to post a bond to secure adherence to the rules and regulations; (xx) generally. in all matters not herein otherwise specified, control and do each and every thing necessary, suitable. convenient, or proper for the accomplishment of any of the purposes of the Trust or incidental to the powers herein or in said Chapter 183A. manage and dispose of the Trust property as if the Trustees were the absolute owners thereof and to do any and all acts. including the execution of any instruments, which by their performance thereof shall be shown to be in their judgment for the best interest of the Unit Owners. Section 5.2 Maintenance and Re air of Units. The Unit Owners shall be responsible for the proper maintenance and repair of their res respective Units and the maintenance. repair and replacement of utility ty fixtures therein serving¥ the same, including, without limitation. interior finish walls s, ceilings. and floors; windows, and interior window trim; doors; door frames and interior door trim; plumbing and sanitary waste fixtures and fixtures for water and other utilities: electrical fixtures and outlets; and all wires, pi as. drains and conduits for water, sewerage, electric power and 11 t, telephone and any other utility services which are contains in and serve such Unit. If the Trustees shall at any time in their reasonable judgment determine that the interior of any Unit is in such need of maintenance or repair that the market value of one or more other Units is being substantially and adversely affected or that the condition of a Unit or fixture furnishings, facility or equipment therein is hazardous to any Unit or the occupants thereof. the Trustees shell in writing request the Unit Owner to perform the needed maintenance. repair or replacement or to correct the hazardous condition. and in case such work shall not have been commenced within fifteen (15) days (or such reasonable shorter period in case of emergency as the Trustees shall determine) of such request and thereafter diligently brought to completion. the Trustees shall be entitled to have the work performed for the account of such Unit Owner and to enter upon and have access to such Unit for that purpose. The reasonable cost of such work shall constitute a lein u on such Unit and the Unit Owner shall be personally liable t therefor. Repair of uninsured casualty loss or damage to units caused by events in or condition of common areas and facilities may. in the Trustee’s sole discretion. but need not be, paid from cannon funds. Section 5.3. Maintenance Re air and Re replacement of Common Areas and Facilities- Assessment of Common Ex expenses Therefor. The Trustees shall he responsible for the proper maintainace tenants. repair and replacement of the common areas and facilities -3-[ of the Condominium. which may be done through the managing agent. as hereinafter provided, and any two Trustees or the managing agent or any ot are who may be so designated by the Trustees ma approve payment of vouchers for such work. The expenses of such maintenance. repair and replacement shall be assessed to the Unit Owners as common expenses of the Condominium at such times and in such amounts as provided in Section 5.4. Section 5.4. Common Expense Funds. Section 5.4.1. Reserve Funds. The Unit Owners shall be liable for common expenses and. subject to the Trustee's judgment as to reserve and contingent iability funds stated below. shall be entitled to surplus accumulations (common profits) if any. of the Condominium in proportion to their beneficial interest in the Trust. The Trustees may from time to time distribute surplus accumulations. if any, among the Unit Owners in such proportions. The Trustees may. to the extent they deem advisable, set aside common funds for reserve or contingent liabilities, and may use the funds so set aside for reduction of indebtedness or at er lawful capital purpose, or. subject to the provisions of the following Sections 5.4.2 and S.é.3. for repair. rebuilding or restoration of the Trust property or for the improvements thereto. and the funds so set aside shall not be deemed to be common profits available for distribution. Section 5.4.2. Estimates of Common Expenses and Assessments. At least thirty (30) days prior to the commencement of each fiscal year of this Trust. the Trustee(s) shall estimate the common expenses expected to be incurred during the next fiscal yea together with a reasonable provision for contingencies and reserves. and after taking into account any undistributed surplus accumulations from prior years. shall determine the assessment to be made for the next fiscal year. The Trustees shall promptly render statements to the Unit Owners for their respective shares of such assessment, according to their beneficial interest in the common areas and facilities and such statements shall, unless otherwise provided therein, be due and payable within thirty (30) days'after the same are rendered. In the event an annual assessment is not made as above required. an assessment shall be presumed to have been made in the amount of the last prior assessment In the event that the Trustee(e) shall determine during any fiscal year that the assessment so made is less than the common expenses actually incurred, or in the reasonable opinion of the Trustee(s) likely to be incurred. the Trustee(s) shall make a supplemental assessment or assessments and render statements therefor in the manner aforesaid, and such statements shall be payable and take effect as aforesaid. The Trustees may in their discretion provide for payments of statements in monthly or other installments. The amount of each such statement shall e a personal liability of each Unit Owner (jointly and severally among the owners of each Unit). and, if not paid when due, or upon the expiration of such grace period as the Trustees may (but need not) designate, shall carry a late charge in such amount or at such rate (which amount or rate need not be in proportion to the beneficial interest in this Trust) as the Trustees shall determine and. together with any such late amount or charge and attorneys' fees for collection as hereinafter provided, shall constitute a lien on the Unit pursuant to the provisions of Section 6 of Chapter 183A. Each Unit Owner by acceptance of a Unit Deed. agrees to pay all costs and expenses. including reasonable attorneys‘ fees. incurred by the Trustees in collection of said assessments for common expenses and enforcement of said lien. n9-Section 5.4.3 Ag plication of Common funds"$ie'iiusé323 shall expend common fun a on y or t e purposes permitted by this Trust and by Chapter 183A.”" Section 5.4.4. Notice of Default to Mortgagees. Upon written request addressed to the Trustee(s) by first mortgagee of any Unit, the Trustee(s) shall notify such mortgagee of any default by the mortgagor of such Unit in the performance of the mortgagor‘a obligations under the Master Deed and this Declaration of Trust. Section 5.5. Rebuilding and Restoration Improvements. Section 5.5.1. Determination of See e of Loss. In the event of any casualty loss to the Trust property, the Trustee(s) shall determine in their reasonable discretion whether or not such loss exceeds ten percent (10%) of the value of the Condominium immediately pr or to the casualty. and shall notify all Unit Owners of such determination. If such loss as so determined does not exceed ten per cent of such value. the Trustee(s) shall proceed with the necessary repairs. rebuilding or restoration in the manner provided in paragraph (a) of Section 17 of Chapter 183A. If such loss as so determined exceeds ten per cent of such value. the Trustee(s) shall forthwith submit to all Unit Owners (a) a form of a agreement (which may be in several counterparts) among the Unit owners authorizing the Trustee(s) to proceed with the necessary repair, rebuilding or restoration. and (b) a copy of the provisions of Section 17: and the Trustee(s) shall thereafter proceed in accordance with, and take such further action as they may in their discretion deem advisable in order to implement the provisions of paragraph (b) of said Section 17. Section 5.5.2. Submission to Unit Owners of Pro proposed I improvements. If and whenever the Trustees she propose to make any Improvement to the common areas and facilities of the Condominium, or shall be requested in writing by the Unit Owners holding twenty-five per cent or more of the beneficial interest in this Trust to make any such improvement. the Trustee(s) shall submit to all unit Owners (a) a form of agreement (which may be in several counterparts) specifying the improvement or improvement proposed to be made and the estimated cost thereof, and authorizing the Trustee(s) to proceed to make the same, and (b) a copy of the provisions of Section 18 of Chapter 183A. Upon the receipt by the Trustee(s) of such agreement signed b the Unit Owners holding seventy-five percent or more 0 the beneficial interest or the expiration of ninety days after such agreement was first submitted to the Unit Owners. whichever shall first occur, the Trustee(s) shall notify all Unit Owners of the aggregate percents of beneficial interest hold by Unit Owners who have then signed such agreement. If such percentage exceeds seventy-five percent the Trustees shall proceed to make the improvement or improvements specified in such agreement and, in accordance with Section 18 of Chapter 183A, shall charge the cost of improvement to all the Unit Owners. The agreement so circulated may also provide for separate agreement by the Unit Owners that if more than fifty percent. but less than seventy-five percent of the beneficial interest so consent, the Trustee(s) shall proceed to make such 1 improvement or improvements and shell charge the same to the Unit owners so consenting. -10-Section 5.5.3. Arbitration of Dis disputed Trustee Action. {Notwithstanding anything In Sections 5.3.; and 5.5.? (a! In the event that any Unit Owner(s). by written notice to the Trustee(s) shall dissent from any determination of the Trustee(s) with respect to the value of the Condominium or any other deter- mination or action of the Trustee(s) under this Section 5.5. and days after such notice. then either the Trustee(s) or the dissenting Unit Owner(s) {shall submit the matter to arbitration. For that purpose, one arbitrator shall be designated by the Trustee(s). one by the . dissenting Unit Owner(s) and a t ird by the two arbitrators so ‘designated. Such arbitration shall be conducted in see with the rules and procedures of the American Arbitration Association and shall be binding upon all parties. The Trustees' decision :that work constitutes a repair, rebuilding or restoration other than an improvement shall be conclusive unless shown to have been - made in bad faith. The Trustee(s) shell in no event be obliged to .proceed with any repair. rebuilding or restoration or any improve‘improvement. unless and until they have received funds in an amount equal to the Trustees' estimate of all costs thereof. 1 Trustee does hereby adopt the _initial Rules and Regulations annexed to this Declaration of Trust. The Trustee(s) may enforce the Rules and Regulations by [imposition of fines previously established or in any other manner permitted by law. including without limitation by court action for injunctive relief and damages Section 5.6 Adminiatracive Rules and Regulations. The I I: dept. amena anfi resclna adminis- erning the operation and us; a? governing the operation and use of the common areas and facilities, and such restrictions on and x'9‘1‘41176‘Mfl‘tt8 respecting the use and maintenance of the Units and the no. of Hm Mm... u-.. h... gun”. . the common areas and facilities. Trustee does hereby adopt the initial Rules and Regulations annexed to this Declaration of Trust. The Trustee(a) may enforce the Rules and Regulations by imposition of fines previously established or in any other manna: permitted by law. including without limitation by court action for injunctive relief and damages. Section 5.7. Managing Agent. The Trustee(s) may. at their discretion. appoint a manager or managing agent to administer the management and operation of the Condominium. including the |incurring of expenses. and making of disbursements and the ‘keeping of accounts, as the Trustee(s) shall from time to time -determine. The Trustee(s) or such manager or managing agent may appoint. employ and remove such additional agents, attorneys. accountants or employees as the Trustee(s) shall determine. Section 5.8. Insurance. Section 5.8-1 The Trustee(s) shall obtain and maintain, [to the extent available at reasonable cost. master policies of casualty and physical sical damage insurance for the benefit and protection of the Trustee(s). and all of the Unit Owners. naming as the named insureds. and with loss proceeds payable to the Trustee(s) hereunder. or one or more of the Trustee(s) hereunder designated by them, as Insurance Trustee(s) for all of the Unit Owners collectively of the Condominium and their respective mortgagees, as their interests may appear, pursuant to such condominium form of insurance as may from time to time be \customarily used in Massachusetts. such insurance to cover the ‘buildings and all other insurable improvements forming part of the common areas and facilities, including all service machinery apparatus. equipment, and installations in the common areas and facilities, and including also all such portions and elements .11.of the Units for which the Unit Owners are responsible. but'not including the furniture. furnishings, or other personal property of the Unit Owners. Such insurance shall. insofar as practicable. be maintained in an amount not less than 100% of the replacement value of the insured property for insurance purposes. as determined by the Trustee(s) (who shall review such value at least as often as annually), and shall insure against (a) loss or damage by fire and other hazards covered by the standard extended ;coverage endorsement, and (b) such other hazards or risks as the Trustee(s) from time to time in their discretion shall determine to be appropriate, including but not limited to vandalism. malicious mischief. windstorm and water damage, federal flood hazards. so-called, and boiler and machinery e lesion or damage. Such insurance may have a deductible amount to e determined from time to time by the Trustee(s). Section 5.8.2. All policies of casualty or physical damage insurance shall, insofar as practicable. provide (a) that such policies may not be canceled. terminated. or substantially modified as to amount of coverage or risks covered without at least thirty days' written notice to the insureds; (b) for waiver of subrogation as to any claims (except claims involving arson or fraud against the Trust. the Trustee(s), the manager, agents. employees. the Unit Owners and their respective ‘employees, agents, and guests; (c) for waivers of any defense based upon the conduct of any insured; (d) in substance and effect that the insurer shall not be entitled to contribution as against any casualty or property insurance which may be purchased separately by Unit Owners; and (e) that such insurance shall not be prejudiced: (i) by any act or neglect of any owners or occupants of the Units, when such act or neglect is not within the control of the Trustee(s)(or Owners) collectively. or (ii) b =failure of the Trustee(s) (or Owners) collectively to co 1y wi 'any warranty or condition with re regard to any portion of t e .premises over which the Trustee shall be taken without a meeting. at least three days' written notice thereof to the Unit Owner responsible for said pet, and the opportunity at the Trustees' meeting for the Unit Owner responsible for the pet to be heard. (10). Storage. There shall be no parking of baby carriages or playpens, bicycles, wagons, toys, vehicles icles, benches, or chairs on any part of the Common Elements. All of the furnishings, items of personal property, effects, and other items of Unit Owner and persons c aiming by, through or under said Owner may be kept and stored at the sole risk and hazard of said Owner, and if the whole or any part thereof shall be destroyed or damaged by fire, water or otherwise, or by the leaking or bursting of water pipes. steam pipes, or other pipes. by theft or from other cause, no part of said loss or damage in excess of the amounts. if any. covered by its insurance policies. is to be charged to or be borne b the Condominium Trust, except that the Condominium Trust shall in no event be exonerated or held harmless from liability caused by its negligence. (11). Re air and Condition. Each Unit Owner shall keep his Unit and the balcony appurtenant thereto. if applicable. in a good state of preservation and cleanliness, and she 1 not sweep or throw or permit to be swept or thrown therefrom. or from the doors or windows thereof, any dirt or other substance. .2- (12). E Equipment ment Com Compliance. All radio. television or other electrical equipment of any Find or nature installed by Unit Owners or used in each Unit shall fully comply with all rules. regulations. requirements or recommendations of the Board of Fire underwriters erwriters. or similar board, and the public authorities having jurisdiction. and the Unit Owner alone shall be liable for any damage or injury caused by any radio, television or other electrical equipment in such Unit. (13). Flammable Materials etc. No Unit Owner or any of his agents. servants. employees, licensees. or visitors shall. at any time. bring into or keep in his Unit or any portion of the Common Elements or the Buildings any gasoline. kerosene or other flammable. combustible or explosive fluid, material. chemical or substance, except such lighting, cleaning and other fluids. materials. chemicals and substances as are customarily incidental to residential use. ' (14) Real Estate Taxes. For so long as the Condominium is assessed as s single pro property rather than separate Condominium Units, Unit Owners will be billed by the Trustee(s) for their respective portions thereof (each Condominium Unit's common area percentage. including the common area percentage applicable to additional parking rights acquired. of the total tax bill) during each October and April, which bill shall enclose a copy of the tax bill issued by the Town of Amherst. Each Unit Owner will forward payment of his percentage interest in the total tax bill to the Trustee(s) by check made payable to the Town of Amherst no later than ten (10) days prior to the date on which payment may be made without incurring a penalty or interest thereon. Late payments b a Unit Owner must be made payable as directed by the Trustee(s . and will include interest and penalties as charged by the Town of Amherst for late payment. to ether with costs 0 collection therefor incurred by the Trustee(s . including reasonable attorney's fees. If taxes are collected by holders of mortgages on Condominium Units. each Unit shall be responsible forugauging the mortgage holders to forward payment as above rsq re . - (15). Amendments hereto may be made by JEFFREY AHMERST MANOR CONDOMINIUM TRUST in accordance with the provisions of M.G.L. Ch. 183A. as amended. JEFFERY AMHERST MANOR CONDOMINIUM TRUST . 08 . eaver , rue ‘95 70b. 17, 1981 at 2 o'clock & 22 Bins. Plfl. Roo'd, Ent'd & Rxem'd.