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The Board of Directors has deemed it to be in the best interests of the Association to restrict the leasing of Units and limit occupancy to owners. The Resolution is amended as follows:

Subject to the additional provisions listed below, there shall be no leasing of Units after May 8, 2006. With the exception of a lender in possession of a Unit following default of a First Mortgage, a foreclosure proceeding or any deed or other arrangement in lieu of foreclosure, no unit, or interest therein shall be leased for transient or hotel purposes.

No Unit Owner may lease less than the entire Unit.

All leases of Units shall be in writing and a copy of every lease, as and when executed, shall be furnished to the Board.

The lessee under every such lease shall be bound by and subject to all of the obligations, under the Rules and Regulations, or the Unit Owner making such lease, and the failure of the lessee to comply with any of the terms of said instruments shall constitute a default under the lease, and the lease shall expressly so provide. The Unit Owner making such lease shall not be relived thereby from said obligations.

Any Owner currently leasing the Unit as of May 8, 2006 may continue to lease the Unit for as long as they own the Unit, subject to the following provisions;

All assessments, fines and fees must be current prior to a tenant occupying a unit.

Ten (10) days prior to a tenant moving in the Owner must supply to the Management Office a copy of the lease.

All leases must be between the Owner and the Unit and the tenant occupying the Unit, no subletting is allowe4d.

Prior to occupancy, tenants shall acknowledge in writing that they have received a copy of the Rules and Regulations of the Association and a copy of the written receipt shall be submitted to the Board of Directors.

In the event that a tenant moves out without prior notification to the Owner, the Owner must notify Management Offices as soon as they become aware the move out has occurred.

All fines and penalties are applicable for moving out without notifying the Management Offices as provided elsewhere in these Rules and Regulations.

Occupancy of a Unit by a blood relative's) of a Unit Owner without the Unit Owner being a resident, shall not constitute a lease as defined under this Rules, even if a written memorandum or agreement has been executed between the parties.

A blood relative is defined as a parent or child (natural or adopted) of a Unit Owner.

Proof of relationship must be provided to the Management Office at the time the census card is updated.

All of the items in Paragraph 3 of this section are applicable even though this is not considered a lease agreement.

Hardship: If an Owner, for hardship reasons must lease the Unit, the Unit owner may apply for a one year hardship waiver in the following manner:

The Unit Owner must submit a request in writing to the Board of Directors requesting a one year hardship waiver, setting forth the reasons why they are entitled to same.

If, based on the data supplied to the Board of Directors by the Unit Owner, the Board, at its sold discretion, finds that a reasonable hardship exists, the Board may grant a one year waive. Any lease entered into shall be in writing and for a period of one year. The lease must also contain a provision that failure by the tenant or the Unit Owner to abide by the Rules and Regulations of the Association may, at the discretion of the Board of Directors, result in termination of the lease by the Board of Directors. All decisions of the Board shall be final.

All of the provisions of paragraph 3 of this section are applicable.

In the event an owner has been granted a hardship status, they must re-apply within thirty days (30) of the expiration of each hardship period if they wish to request an extension.

Any unit being leased out in violation of this Rule or any Owner found to be in violation of any of the Rules and Regulations adopted by the Board of Directors may be subject to a flat or daily fine to be determined by the Board of Directors upon notice and an opportunity to be heard.

In addition to the authority to levy fines against the Owner for violation of this Rule or any provision of the Declaration, By-Laws, or Rules and Regulations, the Board shall have all rights and remedies, including by not limited to the right to maintain an action for possession against the Owner and/or their tenant under 735 ILCS 5/9-111, an action for injunctive and other equitable relief, or an action at law for damages.

Any action brought on behalf of the Association and/or the Board of Directors to enforce this Rule shall subject the Owner to the payment of all costs and attorney's fees at the time they are incurred by the Association.

All unpaid charges as a result of the foregoing shall be deemed to be a lien against the Unit and collectible as any other unpaid regular or special assessment, including late fees and interest on the unpaid balance.

This rule shall not prohibit the Board from leasing any unit owned by the Association or any Unit that the Association has been issued on Order of Possession by the Circuit Court of Cook County.