AMENDMENT TO BY-LAWS OF THE ASSOCIATION OF UNIT OWNERS OF THE BLUFFS

THIS AMENDMENT is made as of this 20th June 1992 , by THE ASSOCIATION OF UNIT OWNERS OF THE BLUFFS, an Oregon nonprofit corporation which is the Administrator of The BLUFFS pursuant to the Declaration Submitting The BLUFFS to Oregon Unit Ownership Law dated October 3, 1977 and recorded October 31, 1977 in Book 80 of the Records of Deeds of Lincoln County, Oregon, at page 1764.

Article VII, paragraph 5, subparagraph (h), By-Laws of The Association of Unit Owners of The Bluffs provides that the leasing and rental of units shall be without restriction excepting that no unit owner may lease or rent less than his entire unit. The unit owners of The Bluffs now wish to amend that section of the By-Laws to read as follows:

“(h) Ownership, use, leasing and rental of units. Each unit shall be occupied and used only by a contract vendee thereof or a record title holder, his family, servants and non-paying guests, or lessee under a lease term of not less than four consecutive weeks, for residential purposes only. No unit may be rented or leased, without the prior written approval of the Board of Directors of the Association, except to a single family lessee for a term of at least four consecutive weeks. Record ownership of a unit may be vested in no more than six persons. Provided, that more than six natural persons may be record owners if they are all blood relatives of the first degree or spouses of same. As used herein “persons” shall include corporations, general partnerships, trusts, limited partnerships or other entity, but in the event anyone other than a natural person desires to become a record owner of a unit, such shall require the prior approval of the Board of Directors of the Association, except in cases where a lender becomes the owner of a unit by reason of foreclosure of a security instrument or by deed in lieu of the foreclosure thereof. Specifically prohibited by this subparagraph (h) is any form of so-called “time sharing”, “interval ownership” or “vacation license” wherein any person is granted the right to use Amendment to The Bluffs By-Laws a unit for any pre-determined period of less than four consecutive weeks. Whether a unit is owned in whole or in part by a partnership, corporation, trust or other entity, such an entity shall designate at the closing of the acquisition of its ownership interest no more than three particular families which shall be entitled use of the unit. Only such designated families, their servants and non-paying guests may use such unit. Different families may be so designated as the named user of a unit by written notice to the Association; provided that no more than two such changes may be made in any calendar year.”

NOW, THEREFORE, the By-Laws of The Association of Unit Owners of The Bluffs is hereby amended to disallow “time sharing” and provide other restrictions as listed above and shall replace Article VII, paragraph 5, subparagraph (h) as recorded in Book 80 of the Records of Deeds of Lincoln County, Oregon, at page 1764.