AMENDMENT AND RESTATEMENT OF POLICIES AND PROCEDURES
OF
ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Adopted: September 30, 2015

In compliance with the Colorado Common Interest Ownership Act (the "Act"), the Board of Directors (the "Board") of the Alpine Lakes Ranch Property Owner's Association, Inc. (the "Association") has adopted the attached Responsible Governance Policies and Procedures and has added and restated policies and procedures already in place.

These Policies and Procedures may be amended, modified, and supplemented from time to time by the Board.

Authority for the adoption and amendment of these Policies and Procedures is granted by the Act and by the Colorado nonprofit corporation law.

Capitalized terms used herein if not otherwise defined shall have the same definition as found in the Declaration of Protective Covenants for Alpine Lakes Ranch, Inc., as amended (the "Declaration"), or in the Articles of Incorporation or Bylaws of the Association (collectively, the "Governing Documents").

TABLE OF CONTENTS

Policy #1 - Collection of Unpaid Assessments
Policy #2 - Code of Conduct for the Board of Directors; Conflicts of Interest
Policy #3 - Conduct of Meetings
Policy #4 - Covenant Enforcement; Notice and Hearing; Imposition and schedule of Fines
Policy #5 - Inspection and Copying of Association Records
Policy #6 - Reserve Funds
Policy #7 - Amendment or Adoption of Policies and Procedures
Policy #8 - Dispute Resolution
Policy #9 - Reserve Studies
Policy #10 - Owner-Board Communications
Policy #11 - BoD Mechanism to circulate E-Mails
Policy #12 - Voting Actions Performed Outside a BoD Meeting
Policy #13 - Businesses on ALR
Policy #14 - Working Sessions
Policy #15 - Annual Meeting Date Selection



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #1 - Collection of Unpaid Assessments



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #2 - Code of Conduct for the Board of Directors; Conflicts of Interest

The principles and guidelines constitute the Code of Conduct for any member of the Board:

No conflicting interest transaction shall be void or voidable or be enjoined, set aside, or give rise to an award of damages or other sanctions in a proceeding by an Owner or by or in the right of the Association, solely because the conflicting interest transaction involves: 1) a member of the Board of the Association; or 2) a party related to a Board member; or 3) an entity in which a Board member is a director or officer or has a financial interest.

The Association may authorize, approve, or ratify the conflicting interest transaction if:



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #3 - Conduct of Meetings


ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #6 - Reserve Funds

The Board is authorized to deposit reserve funds with national or state banks or with any state chartered or federally chartered savings and loan association doing business in Colorado for fixed periods of time, not exceeding two years, at such rate of interest as may be negotiated but in no event shall any such deposit be in excess of the amount insured by the federal deposit insurance corporation or its successor.



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #7 - Amendment or Adoption of Policies and Procedures

The Board has the authority to adopt, amend or replace any of these Policies and Procedures, at any time and from time to time; provided, however, that none of the Policies and Procedures shall conflict with the terms of the Declaration, the Articles of Incorporation, or the Bylaws of the Association. Amendments to the Policies and Procedures or adoption of new Policies and Procedures shall be made at an open Board meeting and shall be documented in the minutes of such meeting and in an update to this document.

Policies and Procedures may be recommended for adoption or amendment by any Board member or by a petition executed by 20% of the Owners.

Prior to adopting any Policy the Board has the right but not the obligation to solicit information regarding the proposed Policy from Owners. The Board may gather information by distributing draft Policies, forming a committee, conducting an informational meeting or any other method determined by the Board to be appropriate considering all of the relevant circumstances.



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #8 - Dispute Resolution

1. Mediation. The Association, its officers and directors, and all Owners (each such person or entity being referred to as a "Bound Party") agree to encourage the amicable resolution of disputes involving the Community and all of its improvements without the emotional and financial costs of litigation. Accordingly, each Bound Party covenants and agrees to submit all Claims (as defined below) that each may have to mediation pursuant to the procedure, prior to commencing any litigation or administrative proceeding.
 



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #9 - Reserve Studies

From time to time, the Board shall conduct or procure a reserve study that will assess the need for improvements, repair, replacement or maintenance to those portions of the Community owned or maintained by the Association (the "Association-owned property"). The Board may, in its discretion, hire consultants or contractors to assist with any such reserve study. The initial reserve study (and all subsequent reserve studies) shall include: (a) an analysis of the physical condition of the Association-owned property, including an estimated remaining useful life of all components and an estimated replacement or repair cost for all such components; and (b) an analysis of the sufficiency of the reserve funds being held by the Association relative to the expected needs for repairs to or replacement of the Association-owned property. Upon receipt of a reserve study, the Board shall develop a funding plan for any work recommended by the study, which plan shall include the projected funding sources for the work. The initial reserve study shall be periodically updated thereafter as determined by the Board.



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #10 - Owner-Board Communications



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #11 - BoD Mechanism to circulate E-Mails

The originator (who would like all Directors' input on a subject) will write up the original e-mail and send it to all of the other Directors. Each Director edits the document as they see fit and sends it back to ONLY the originator. Once the originator has received input from all of the other Directors, the originator will incorporate the suggestions into one document and forward it to ONLY the President. The President will read the final document to determine if there are any issues or controversy. If not, the President would reply to the originator with the final OK to take the appropriate action. If there are issues or a controversy that the President thinks should place a hold on the action, then the subject is too important to resolve via e-mail.



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #12 - Voting Actions Performed Outside a BoD Meeting

A Board member aware of the matter will send an e-mail to the entire Board explaining the situation and listing any issues that should be considered before a decision is made.

Individual Board members will communicate their thoughts on the matter by e-mail. When individual Board members feel they have enough information, they will cast their votes. All e-mails sent during this process will be directed to the entire Board.

The Secretary will retain all e-mails. The matter and the vote will be reported at the next BOD meeting. The e-mails will be attached to the minutes recording the decision or resolution so that property owners have a record of deliberations leading to the vote. (09/14)



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #13 - Businesses on ALR

If a business has no impact on the ranch and takes place in the privacy of a property owner's home and is otherwise not in violation of our Covenants, it is not necessary nor appropriate for the BoD to approve or disapprove it.



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #14 - Working Sessions

It has been determined that BoD Meetings are not the place to work on issues, rather just the place to finalize and document the decisions.

At a regular BoD Meeting, dates and subject matters of future Working Sessions will be decided upon. At those subsequent Working Sessions, the details of the subject matter(s) will be developed, and while a consensus or decision maybe reached, no motion or vote shall take place. The subject matter(s) results shall be presented at the next BoD Meeting where the official actions (motion,second, discussion, and vote) shall take place or in accordance with the "Voting Actions Performed Outside a BoD Meeting" Policy



ALPINE LAKES RANCH PROPERTY OWNER'S ASSOCIATION, INC.

Policy #15 - Annual Meeting Date Selection

At a previous ALRPOA Annual Meeting, the membership voted to hold the ALRPOA Annual Meetingon the Saturday of the July 4th weekend. Typically, the ALR Water Company(WATCO) and the ALR Ditch and Reservoir(ALRD&RC) Company schedule their Annual Meetings on the Friday before the ALRPOA Annual Meeting. In order to coordinate the ALRPOA Annual Meeting with the Annual Meetings of WATCO and ALRD&RC, the following procedure shall be followed:

At the regular March ALRPOA BoD Meeting, the Board will agree on the date & location of the ALRPOA Annual Meeting. Typically this date will be the first Saturday of July when July 4th falls on Saturday, Sunday, Monday, or Tuesday; otherwise, it will be the second Saturday of July when July 4th falls on Wednesday, Thursday, or Friday. The date & location shall be approved at this March meeting and notice sent to WATCO and ALRD&RC as soon as possible after this meeting. At the regular April ALRPOA BoD Meeting, the date & location of the ALRPOA Annual Meeting shall be finalized and communicated to the ALRPOA membership as soon as possible after this meeting. (BoD 3/18/2016)