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MASTER DECLARATION

OF COVENANTS, CONDITIONS, RESTRICTIONS AND EASEMENTS FOR CASTLE PINES NORTH

Section 4.6. Voting Rights of Delegates. Each Delegate shall cast one vote for each Privately Owned Site which is owned by a Class A Owner and which is subject to this Declaration and located in the Delegate District represented by such Delegate and shall cast three votes for each Privately Owned Site which is owned by a Class B Owner and which is subject to this Declaration and located in the Delegate District represented by such Delegate: provided, however, that in the case of combined Privately Owned Sites, the Delegate shall have the number of votes assigned to such combined Privately Owned Site pursuant to Section 4.5 hereof. At such meeting of Delegates, each Delegate shall cast the votes which the Delegate represents in such manner as such Delegate may, in the Delegate's sole and reasonable discretion, deem appropriate, acting on behalf of all the Owners owning Privately Owned Sites in such Delegate's Delegate District; provided, however, that in the event that at least five percent of the voting power in attendance at any duly constituted meeting of the Owners in such Delegate District shall instruct their Delegate as to the manner in which such Delegate is to vote on any issue to be voted on by the Delegates, then the Delegate representing such Delegate District shall cast all of the voting power in such Delegate District in the same proportion, as nearly as possible without counting fractional votes, as the Owners in such Delegate District shall have, in person or by proxy, cast their voting power in favor of and in opposition to such issue. A Delegate shall have the authority, in the Delegate's sole discretion, to call a special meeting of the Owners in such Delegate's Delegate District in the manner provided in the Bylaws for the purpose of obtaining instructions as to the manner in which such Delegate is to vote on any issue to be voted on by the Delegates. When a Delegate is voting in the Delegate's own discretion, without instruction from the Owners whom such Delegate represents, then such Delegate may cast all of the votes which the Delegate represents as a unit or such Delegate may apportion some of such votes in favor of a given proposition and some of such votes in opposition to such proposition. It shall be conclusively presumed for all purposes of Master Association business that any Delegate casting votes on behalf of the Owners in such Delegate's Delegate District will have acted with the authority and consent of all such Owners. All agreements and determinations lawfully made by the Master Association in accordance with the voting procedures established herein, and in the Bylaws, shall be deemed to be binding on all Owners and their successors and assigns.

Section 4.7. Membership of Board of Directors. During the Appointment Period, the Board of Directors shall consist of seven Directors, and Declarant shall have and hereby reserves the continuing right to appoint four of such Directors during such Appointment Period and the rest of the Owners (excluding Declarant) shall have the right to appoint three of such Directors during the Appointment Period. Notwithstanding the foregoing, until the first annual meeting of Delegates, the number of Directors shall be three and Declarant shall have the right to appoint all three of such Directors. The "Appointment Period" shall mean the period of time commencing as of the date of recordation of this Declaration and continuing until the earliest to occur of the following events: (a) such time as all Expansion Property has become part of the Master Association Area and the last Privately Owned Site within the Master Association Area has been sold and conveyed by Declarant to non-Declarant Owners; or (b) such date as Declarant shall voluntarily relinquish its right to appoint such four Directors and its right to appoint a majority of the members of the Design Review Committee in accordance with Section 10.3 hereof; or (c) December 31, 1999. In the event that Declarant voluntarily relinquishes its right to appoint
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Master Declaration

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Castle Pines North Master Association

Telephone and fax:      303-482-3078
Email:                         admin@cpnhoa.org
Website:                     www.cpnhoa.org

Mailing Address:          CPN Master Association
                                  7402 Yorkshire Drive
                                  Castle Rock, CO 80108

NOTE:  The Master Association does NOT have an office location or an outside management company.  We have an independent team of part-time contractors. All inquiries to the Master Association are responded to as soon as possible.
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