PINEWILD CONDOMINIUM HOMEOWNERS ASSOCIATION
RULES of
the ASSOCIATION
____________________________________________________________
These Rules (Section I, “General Rules,” and Section II, “Beach,”
“Buoy,” “Garage” and “Tennis” have been compiled for the benefit of
all unit owners, their tenants, guests and vendors.
They clarify precepts which
are a part of and authorized by § 2.4(f) of the 2010 Restated
Declaration of Covenants, Conditions and Restrictions (“CC & Rs”) of
the PineWild Condominium Homeowners Association.
These Rules incorporate
suggestions proposed by owners and policies adopted by the PineWiId
Board of Directors and approved by the owners to assure proper
administration and management of the affairs of the Association so
that everyone may enjoy the benefits of PineWild.
These Rules are subject to revision as conditions change within our
PineWild Community. The intent is that these Rules provide a support
system for harmonious living in the PineWild Community.
We should all have a common
interest in observing these Rules. In essence, let us all be
considerate of one another.
The Rules apply to all unit owners, tenants, guests, vendors and
rental agents. Owners
shall be responsible for notifying all tenants, guests, vendors
and rental or property management agencies of the content of
these Rules of Conduct and the penalties which may be imposed for
violation of them. As a
reminder to owners, under § 2.5(f) of the CC&Rs, each owner is
responsible for the conduct of the members of the owner’s family and
the owner’s tenants, guests, vendors,
rental agents and others using PineWild at the invitation of
an owner or associated with the owner’s unit.
Section 1:
General Rules Applicable to PineWild
1.
Access
Access to the Condominium complex is controlled by an electronic
gate system which is activated by proper presentation of a gate card
or remote controller. Each
condominium unit is entitled to one gate card
per bedroom, in accordance with the original building plan,
at no cost. Additional
and/or replacement cards or remote control devices may be obtained
by the owner from the Association’s office for a fee to be
determined by the Board of Directors.
2.
Registration
Unit owners are required to register
with the Association Office all boats or other water craft such as
kayaks, inflatables, pedal boats, paddle boards, etc., which may be
operated or parked within the complex or which may utilize the
facilities of the complex. These
registration requirements and conditions may be modified at any
time. PineWild’s
“Sunshade Policy” (discussed
infra at § 12) also requires registration of certain beach
equipment left on the beach overnight, such as cabanas or umbrellas.
Tenants and guests are also required to register promptly upon
arrival (or as soon as practicable) with the PineWild office using
forms provided at the gate entrance or by telephone to the
Association Office, at 775.588.4743.
All vehicles must display an owner’s parking permit or a
guest parking permit.
3.
Parking
Each unit is assigned exclusive use of one (1) numbered parking
space within the common area.
This space shall be utilized exclusively by the owner,
tenant, guest or someone authorized by the owner.
The Association Office
should be advised, in writing, of such authorization.
Any vehicle parked in
PineWild must display either an owner’s or a guest parking permit.
A limited number of guest spaces (marked "G") are provided.
The unit owner’s tenants,
guests and vendors must park in either the unit’s assigned space or
an available guest space. Use of guest spaces is limited to a period
of forty-eight (48) hours.
Tenants or renters of owners are authorized to utilize the
owner’s space and no more than one guest space.
During periods of high occupancy, when all parking areas are
being used, it may be necessary to park guests’ vehicles outside the
PineWild complex and the guests be shuttled to and from the complex.
Parking of motor homes or campers is
permitted in parking spaces if they fit within the confines of the
parking space.
Overnight parking of travel or camping trailers, boat trailers cargo
trailers or commercial trucks is prohibited at all times (except as
is permitted in the parking garage in accordance with Garage Rules
and Regulations).
However, when such vehicles are used for travel to PineWild or are
transported to PineWild and arrive after
Except as provided in § 3.5 of the CC & Rs, the following vehicles
are prohibited at PineWild and may not be parked in unit owner’s
assigned space or guest spaces:
·
Any recreational vehicle used as living quarters
·
Unlicensed or unregistered vehicles (except for newly acquired
vehicles to be licensed in accordance with State law)
·
Any vehicle in excess of 20 feet in length or 8 feet in width
Parking or operation of vehicles on any lawn or other unpaved area
is strictly prohibited.
Owners and tenants have an obligation to inform all tenants, guests,
visitors, tradesmen and vendors, whether social or commercial, of
these regulations and advise them where they may park.
Guests, visitors, tradesmen
and vendors are only to use the parking spaces marked with a "G"
unless the owner's numbered space is made available for them.
PineWild
has limited parking. Therefore,
it is essential that each owner or guest limit the number of
vehicles consistently parked in the parking areas.
Vehicles improperly parked may be towed, at the owner's expense,
without notice, if, for example, the vehicle is blocking a fire
hydrant, a space marked handicapped, parked off road, improperly
parked in the garage or poses an imminent threat to the health,
safety or welfare of the Association.
The unit owner may also be fined and face restrictions
according to the CC&Rs for violation of these Rules.
Removal of improperly parked
vehicles will be governed by NRS 487.038 (Removal of Vehicles Parked
in Unauthorized Manner on Private Property), NRS 116.3102(1)(s) and
§ 3.5 of the CC & Rs.
The Garage is privately owned parking, not public parking, the use
of which is limited to owners who have leased spaces from PineWild
Condominium Homeowners Association.
The Garage Rules and Regulations are specific to the use of the
Parking Garage by lessees of spaces therein.
A copy is attached to these Rules and is also posted at the
garage entrance. Unless
specific written authorization is provided by the lessee, only
lessee owners are allowed to use the parking garage.
4.
Speed Limit
The paved roadway within the complex is a one-way, clockwise
rotation, street (except for the
parking areas immediately adjacent to the entrance. where a right
turn is permitted). The
maximum speed limit is 15 mph. Please
be cautious and courteous of persons and animals walking on the
roadways and in the parking areas.
5.
Unlicensed Motorized Vehicles
The storage or operation of trail bikes, snowmobiles or any other
unlicensed motorized vehicles is prohibited within the complex with
the sole exception of maintenance equipment owned by the PineWild
Condominium Homeowners' Association or other maintenance and repair
vendors.
6.
Unit Occupancy
and Rental
Each unit shall be used only for residential purposes.
Rental occupancy is limited
to two (2) persons per bedroom plus two (2) additional persons.
Three (3) bedroom units are,
therefore, limited to occupancy by a maximum of eight (8) persons;
four (4) bedroom units to a maximum of ten (10) persons.
All rental and property management agencies employed by owners shall
be informed of and provided a copy of these Rules of Conduct. Owners
shall assure that all such rental and property management agencies
inform renters of these Rules of Conduct.
In accordance with Section 3.2 of the CC & Rs, no business of any
kind shall be established, maintained, operated, permitted or
conducted within the Development except that home offices and/or
such professional or administrative businesses
are permitted.
However, there shall be no posted external evidence of such
business/home office, e.g.,
no signs,
no increased pedestrian and/or vehicular traffic, activities must
not be apparent or detectable by sight, sound or smell from outside
of the Unit, must not increase Association’s insurance obligations
and/or premiums, and must not be inconsistent with Residential
nature of the Association.
No daycare shall be allowed.
7.
Guest Use of
Common Areas
Use of the common areas is restricted to guests who are accompanied
by owners or tenants who are on the
property with the guests, unless the guests are occupants of a unit.
Guests may not invite additional non-tenant guests to use the
common area.
Whenever large groups of guests are invited by an owner to use the
common areas of PineWild, the date, time and place must be cleared
with the Association Office so adequate provisions can be made.
Security deposits may be required by the Office Manager, at the
discretion of the Board of Directors, to assure that proper
arrangements for clean-up have been made and that any damage to the
common areas and facilities which may occur shall be repaired.
Groups of large numbers of guests may be required to park
off-site and be shuttled to PineWild.
8.
Consideration of other Owners and Guests
No activities shall be conducted within the dwelling units or upon
the deck areas and porches that may disturb other owners, tenants
and guests.
The volume of iPods, radios, tape decks, stereos, televisions or
other electronic audio equipment may not be set to an objectionable
level which might disturb others within condominiums, on decks or
porches, in parking lots, on the beach or in the common areas.
Owners are responsible for any destruction or vandalism to the
common areas or facilities which may be caused by the intentional or
negligent acts of all occupants of their units, their tenants,
guests and vendors.
Owners, tenants, guests and vendors shall be held responsible for
abuses of common areas and facilities and for unacceptable
disturbance of other owners, tenants and guests.
Persistent barking or other noise generated by pets shall not be
allowed. Pets shall be kept on leashes or under the direct control
of the owner and shall not be allowed to run free and unsupervised
within the complex. Pets shall not be allowed on the beach from May
through September. Pet
owners shall, when walking pets, be equipped with proper tools and
containers to assure droppings are collected and removed from the
common areas.
Hot tubs or spas located on decks, their circulation pumps (unless
silent) and other accessories may not be used between the hours of
9.
Health and Safety Concerns
Garbage should be disposed of in the bins provided for that purpose
both along the parking areas and on the beach.
Compactor bags should be
utilized to prevent overloading of dumpsters and to keep the costs
of collection and disposal of trash to a minimum.
Bear locks must be used if
they are available on the bins.
Ashes from fireplaces shall not be placed inside of the dumpsters.
Separate containers are provided for
the collection of ashes at or near the dumpsters.
Because the fire hazard is extreme at PineWild, only natural gas or
propane barbeques are permitted.
Charcoal barbeques are strictly prohibited.
The use of gas or propane barbeques is limited to condominium
decks and common areas but cannot be used on the beach.
Open fires on the beach and
in the common areas are prohibited by Art. 11 of the Uniform Fire
Code. Fireworks of
any kind are prohibited.
Burning of certain fuels or materials in fireplaces leads to an
accumulation of dangerous combustible deposits in chimneys and
flues. In accordance
with § 6.2(a) of the CC&Rs, each owner shall
be responsible to maintain in good repair the chimney
components within the interior of the unit, such as the fireplace,
fireplace screen, etc.
The owner is also obligated to periodically (in such time
periods to be determined by the Board of Directors) maintain and
clean the chimney/flue servicing the owner’s unit.
The owner shall advise the Association maintenance of the
chimney/flue has been completed or that in the opinion of a chimney
cleaning company that such maintenance is unnecessary (e.g., that
the fireplace has been converted to gas burning).
If the owner does not certify that maintenance has been
completed or is unnecessary, the Association may effect such
cleaning or maintenance, the expense of which shall be assessed to
the unit owner.
Ball games of any sort and other recreational activities are
prohibited on the asphalt areas or near the buildings where windows
can be broken or other damage or injury to persons can occur.
Such games are limited to
the grass common areas and the beach, but shall not disturb other
owners or guests.
Items shall not be placed on deck railings where they may fall on
persons below, such as flower pots, statues and decorative pieces.
For the aesthetic benefit of
all owners, tenants and guests, hanging towels and articles of
clothing from deck railings or installing clotheslines on decks is
prohibited.
The use of fire arms, BB guns, air rifles or air pistols is strictly
prohibited within PineWild.
Propane for gas barbeques may be kept on property.
Separate containers for fuel such as gasoline not in excess
of 1.5 gallons are permitted if stored in an approved, spill proof
container which meets California Air Resources Board Phase II
requirements and or
For environmental and water conservation purposes, owners, tenants
and guests are discouraged from using hoses to wash their cars and
instead are requested to use buckets of water for that purpose.
Assistance for fire, ambulance, law enforcement and water emergency
situations may be summoned by dialing 911.
Non-emergency assistance and
information may be acquired by calling the Tahoe Douglas Fire
Protection District, 775.588.3591; Douglas County Sheriff,
775.586.7650; and the U.S. Coast Guard, 530.583.4433.
Although
PineWild’s official street address is
10.
Feeding Wild Animals Prohibited
Our condominium
complex is located adjacent to National Forest areas.
Accordingly, we are often
visited by a variety of wild animals.
It is not unusual to observe
geese and other birds, raccoons, squirrels (which may well carry
plague), as well as bears and coyotes.
It is imperative that
PineWild homeowners, residents and their guests understand that
these are wild animals and should not be fed.
It is not healthy for the
animals and could prove to be harmful to our neighbors and pets.
Pets should never be allowed
alone outside as they may susceptible to coyotes and other animals.
11.
Sunbathing
Nude sunbathing is prohibited on decks, the beach, and in all common
areas within the complex.
12.
Boating and Water Activities
A specially marked area enclosed by floats south of the pier is
reserved for swimmers only. Power
boats and personal water craft are strictly forbidden inside the
swimming area. Swimmers
should recognize the inherent danger to themselves by swimming in
the pier area where boats may be maneuvering.
Jumping or diving off the pier is prohibited and swimming
around the pier is prohibited.
Use of the pier by boaters is restricted to the loading and
unloading of passengers only. It is not to be used for lengthy or
overnight tie-up of boats.
Buoys in the buoy field are privately owned by individual unit
owners. Use of any buoy is
prohibited without the owner's permission.
Boats which exceed twenty five (25) feet in length cannot be safely
accommodated in PineWild’s approved buoy pattern and therefore are
prohibited.
Boating safety regulations in waters adjacent to the PineWild
complex are strictly enforced by the U.S. Coast Guard and the
Douglas County (NV) Sheriff. Elsewhere
on
13.
Tennis Court Rules
Please consult the separate Tennis Court Rules for conduct and
sign-up procedures applicable to that portion of the common area of
the PineWild complex.
Guests must be accompanied by an owner or tenant of an owner.
A copy of the tennis court
rules accompanies these Rules.
14.
Sunshade Policy
See the Sunshade Policy adopted by the Board of Directors (copy
attached).
Any items on PineWild’s beach that appear damaged or abandoned will
be removed and discarded by staff.
Due to secure storage constraints, PineWild is not
responsible for items removed from the beach.
These items will be discarded and the owner assessed a
removal fee of $100.00 or more as approved by the Board of
Directors.
15.
Enforcement of Rules of Conduct;
Fines
Owners, tenants, guests and vendors who violate these Rules of
Conduct may subject themselves and the owner of the unit to loss of
use of the PineWild common area facilities and potential fines in an
amount established by the Executive Board for offenses ($100 per
violation). Fines may
be cumulative and there is no maximum amount for continuing
violations.
Section 2:
Specific Rules Applicable to PineWild
A:
Beach Rules
B:
Buoy Field Rules
C:
Garage Rules
D:
A:
BEACH and SUNSHADE
POLICY
1.
The Sunshade Policy for PineWild’s beach begins May 1st
and ends October 15th.
2.
Cabana and umbrella sizes shall not exceed 10' by 10' and
have no side panels.
Cabanas must be securely fixed with weights.
For safety reasons, string ties are not permitted.
Place cabanas and umbrellas as close as possible to the
bushes without damaging them.
Limit: maximum of one cabana per unit.[1]
3.
All cabanas, umbrellas and watercraft left overnight on the
beach must be registered with the staff at the PineWild office or
gatehouse and must display a PineWild Identification tag which may
be obtained from the PineWild office.
Unregistered items will be removed at homeowner’s expense.
4.
Folding plastic and aluminum chairs must be stacked neatly
under cabanas or umbrellas or overnight storage.
No other items, including coolers and/or furniture, are
allowed overnight on the beach.
5.
30 feet from each
side of all walkways leading to the beach are reserved for day
use only. NOTE:
Day use cabanas, umbrellas and all beach items must be removed at
the end of each day.
Management can adjust day use areas.
6.
The beach will be raked every Tuesday (weather permitting)
between the hours of
7.
All items that appear damaged or abandoned will be removed
and discarded by staff.
Homeowners may be assessed a removal fee of $100.00 as per the Rules
of Conduct and CC & Rs.
8.
The Swim Area begins 150 feet south of pier and extends 450
feet southwards. For
the safety of swimmers, motorized watercraft are not allowed to
cross the swim line at any time.
9.
The beach has several distinct areas where cabanas or
umbrellas are permitted and/or restricted, as illustrated in the map
on the reverse.
The map appears on signs on the beach or may be obtained from
the PineWild office.
10.
All new cabanas or umbrellas (not previously registered) must
be dark green, dark blue or sand in color.
All new cabanas or umbrellas must be solid colors.
Striped or multi-colored cabanas and umbrellas are not
permitted.
11. Dogs are not
allowed on the beach May through September. However, when dogs are
allowed on the beach, pet owners shall have the proper tools and
containers to assure droppings are collected and removed from the
beach and the common areas.
Note:
Due to storage constraints, PineWild is not responsible for items
removed from the beach.
These items will be discarded without notice to their owners and may
be assessed a removal fee as per ¶ 7.
This is a community effort that needs to be shared among all of its
owners and guests. We
hope you have a wonderful summer at PineWild, and thank you in
advance for your cooperation.

B:
BUOY FIELD INFORMATION, RULES
____________________________________________________________
GENERAL INFORMATION:
In 1980, the developer of the PineWild Condominium Community,
Holland Pacific Hitch Company, dba: PineWild Properties, secured the
required permits to build a pier, install a 42 unit Buoy Field and a
Swim Line in Lake Tahoe.
The Army Corp. of Engineers, Douglas County Department of
Building and Safety, the State of Nevada Division of State Land,
Tahoe Regional Planning Agency and the U.S. Coast Guard granted
permits. The State of
Nevada Division of State Lands and TRPA issue an annual Buoy Field
Permit to the PineWild Homeowners Association.
The buoys were sold to PineWild residents and are considered to be
personal property. They
that consists of an anchor block, a tethering chain, one or more
shackles and a floating buoy.
The buoys are seeded in permitted locations.
Each buoy carries a number that is registered with the
PineWild Homeowners Association which serves as the manager of the
Buoy Field.
As noted in Recital R8 of the PineWild Restated CC&Rs, the buoy
field is governed and managed by the Homeowners Association and
Governmental permission for the entire field is issued in the name
of the Association:
R8.
* * * for forty-two (42) buoys, for which each buoy has either been
conveyed to the Owner and/or been granted a license to use by the
Association to the licensee as the owner of the buoy as the Owner’s
personal property, which license to use and/or recognition of
conveyance is hereby ratified and confirmed by this Restated
Declaration. Since the creation of the buoy field,
restrictions and obligations imposed by the Tahoe Regional Planning
Agency (“TRPA”), the State of
The expenses attendant to the buoy field are addressed in paragraph
5.4(a)(ix) of the Restated CC&Rs:
(ix) Costs of
Buoy Field and Buoys.
The
Association may levy a Special Individual Assessment on the Unit
Owners who are the buoy owners for: (A) all expenses for the buoy
field and its permitting, general maintenance or repairs and any
costs of setting or positioning the buoys or buoy fields, which must
be assessed equally as to each buoy; and (B) the costs and expenses
of maintaining, repairing, or replacing a specific buoy or any
special costs attributable solely to a specific buoy, directly to
the Unit Owner who is the buoy owner.
BUOY FIELD
RULES
1.
A buoy owner must be a homeowner at PineWild.
The buoy owner may permit temporary guests to use the buoy,
or the buoy owner may rent the Buoy, but only to other PineWild
Homeowners or Renters.
Non-residents of PineWild are not permitted to use or rent a buoy in
the PineWild Buoy Field.
2.
The buoy field is designed for boats 25 feet in length.
Boats must stay within a 50 foot radius swing from the buoy
to which the boat is tethered.
3.
A buoy owner Information Form is to be filed with the
Homeowners Association by April 15th and must be updated
if any information changes.
All boats tethered to a PineWild buoy must be registered with
buoy and boat owner contact information.
4.
Each buoy owner is responsible for the boat on the owner’s
buoy and for any
damaged caused by the boat. A buoy owner should notify the
PineWild HOA if the owner suspects there are any problems with the
buoy. While the
PineWild HOA coordinates the inspection and preseason maintenance of
the buoys, PineWild HOA does not have personnel available to
immediately solve any buoy problems.
If possible, PineWild HOA will assist in an emergency,
including attempting to contact the buoy and/or boat owner.
However, if the owner cannot be reached, PineWild HOA will
attempt to secure emergency outside services to correct the problem,
the cost of which is the buoy owner’s responsibility.
5.
Each owner is responsible for the boat’s mooring line(s).
Double mooring line use is recommended.
6.
Buoy Transfer Requirements:
A.
A buoy may only be sold to another PineWild Homeowner.
B.
The seller is required to notify the PineWild Homeowners
Association of the sale.
C.
The seller is required to file with the PineWild Homeowners
Association a copy of the Bill of Sale.
7.
The pier is to be used for loading and unloading passengers
only. It is not to be
used for lengthy unattended (longer than 15 minutes) or overnight
tie-up of boats.
8.
Boat trailer parking or storage is prohibited at all times in
the PineWild parking lot.
C:
GARAGE
RULES and
REGULATIONS
1.
Parking Spaces within the garage are assigned to those
PineWild Owners who have leased the parking space(s) from the
PineWild Condominium Homeowners Association.
Use of the parking space(s) assigned to a Pinewild lessee is
restricted to the lessee.[2]
2.
Only the lessee can authorize another PineWild owner, tenant,
guest or vendor to use the lessee’s parking space.
3.
Only cars, trucks, boats, trailers, ATVs, Jet Skis, and
snowmobiles which fit within the parking space can occupy the leased
space. No motor homes
are permitted.
4.
No flammables may be stored in the parking space or in any
vehicles occupying the parking space.
5.
No household and no work/business items (tools, machinery,
etc.) items may be stored in the parking space.
6.
No firewood may be stored in the parking space.
7.
Unauthorized vehicles will be removed at violator’s expense
by PineWild HOA management.
8.
Day-to-day maintenance of the floor of the leased parking
spaces and certain interior components are the owners’
responsibility. Per the
CC&Rs, PineWild HOA, through the Garage Committee, has
responsibility for maintaining the garage.
The expenses will be charged as appropriate to the
lease/owners and PineWild HOA per the CC&Rs.
D:
TENNIS COURT RULES
____________________________________________________________
1.
The tennis courts are for the playing of tennis ONLY
(No skateboards, scooters or roller blades).
2.
Use of the tennis courts is restricted to owners and/or
tenants. Guests must be
accompanied by an owner or tenant in order to utilize the
courts.
3.
Reservations are for 2-hour periods only.
This means 2 hours per condominium number.
(The owner’s or tenant’s name and condominium number is
required on the sign-up board).
A)
Reservations may not be made or two consecutive periods of play.
B) If the court
is available after your time is up, you may continue to play, but
you must relinquish the court if someone else is waiting to play.
C) So that more
people will be able to play, you may not sign up for a second
session in the same day until after the first session has been
played.
D) Reservations
may not be made more than one day in advance.
4.
If you have reserved a court and have not arrived by ten (10)
minutes past the sign-in time, the reservation will not be held;
anyone waiting may use the court for the remainder of the appointed
time period.
5.
TENNIS SHOES ONLY
must be worn on the courts.
(Running shoes or any other black sole shoes that scuff or
mark the court surface is PROHIBITED).
6.
Do not hang articles from the tennis nets.
7.
Please use the trash containers provided.
8.
Glassware, glass bottles, etc., are prohibited in the court
areas.
9.
Courts are for use between 7:00 a.m. and 8:00 p.m.
The tennis season is governed by the need to protect the
garage roof membrane (ceiling) and will vary by weather conditions.
10.
Tennis courts will be closed every Friday from 1:00 p.m. to
3:00 p.m. for cleaning.
THESE TENNIS COURTS
The Beach Committee recommends
all PineWild
beachgoers use umbrellas instead of cabanas, to
improve the visual qualities of our beach.
Each unit is
allowed two umbrellas in lieu of a cabana.
To keep your umbrella(s) in place for the season, we
suggest you consider the “Sand Screw,” which buries deep
into the sand and provides a secure base.
The Sand Screw costs $12.95 and is available from
www.beachumbrellas.com.
[2]
Section 1.14 of the PineWild CC&Rs provides in pertinent
part as follows:
The Community Parking Structure is a Common Facility
containing the tennis courts and maintenance storage of the
Association. It also includes the leased parking spaces as
Limited Common Elements pursuant to and subject to the terms
and conditions approved by a vote of the membership
approving the Foss-Rossini Plan, a copy of which is on file
with the Association and available for review, allowing for
its construction, coverage and/or sharing of certain
expenses, and transition out of any restrictions therefrom
after completion of these terms and conditions.
Pursuant to the Foss-Rossini Plan, the pre-paid
leased parking spaces terminate on March 11, 2024 and these
parking spaces will no longer be subject to any lease.
The Foss-Rossini Plan provides that the use of the
parking spaces will be subject to review by the Association.
At the termination of the pre-paid parking leases and in the
event the ongoing use of the Community Parking Structure
remains available for parking spaces in the Community
Parking Structure, the Foss-Rossini Plan is amended to
require that all persons having the pre-paid parking leases
shall have a first right of refusal on one parking space’s
proposed lease for a reasonable lease period to be offered
by the Executive Board for such parking spaces. Those with
multiple leases may identify which one of their leases they
wish to exercise the first right of refusal. After the first
right of refusal is offered to Owners as provided herein, in
or about 2024, no such right will be offered to any Owner
thereafter. The terms and conditions of such proposed leases
will be at fair market value determined by the Board in its
sole discretion.