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<br />Section 3. Caption.. The captions herein are inserted <br />only a. a matter of convenience and for roference and in no way <br />define, li~it or de.crlbe the scope of these By-Lava or the intent <br />of any proviaion hereof. <br /> <br />Section 4. Waiver. No restriction, condition, <br />obligation or pravi.ion contained in these By-Laws .ha1l be deeMed <br />to have been abroguted or waived by reason of any failure to <br />.nforce the .ame, irre.pective of the number of viOlations or <br />breaches thereof which may occur. <br /> <br />Section 5. No CorpQrate Seal. The AS4oclation shall have <br />no corporate .ea1. <br /> <br />Section 6. Election Under Internal Revenue Code. Th~ <br />Doard .hall make and file all eLections and documents required <br />pur.uant to Section 528 of the Internal Revenue Code of 1954, and <br />any other applicable statute or regulation, in order to exempt <br />from taxation, in.ofar as possible, the income of the A$sociation <br />consisting of a.....ments paid by Owners. <br /> <br />Section 7. Pis~al Year. The fiscal year of the <br />Associatlotlshall be a. determlned by the Board of Directors. <br /> <br />The under.igned hereby certify that the foregoing By-Law. <br />were adopted aa the By-Laws of ROSE PLACE MANOR HOMES <br />ASSOCIATION, a nor-profit corporation under the laws of the State <br />of Hjnnesota, ~ .ction of the Board of Directors at the first <br />meeting thereof. effective , 1985. <br /> <br />President <br /> <br />Secretary <br /> <br />M68 <br /> <br />-11- <br />