BY-LAWS - of - SUN VALLEY HOMEOWNERS ASSOCIATION, INC.

ARTICLE XI

STANDING COMMITTEES

Section 1. Discretionary Function.
The Board of Directors may, but shall not be required to, create standing committees including those hereinafter suggested.

Section 2. Membership.
Each standing committee shall include at least one member of the Board of Directors. In addition, the President of the Sub-Association shall be an ex-officio member with a vote on each standing committee. Each such committee shall have as many Members as the Board of Directors may determine are required to fulfill the committee's functions. Subject to the foregoing, the President shall appoint all committee Members and designate the chairman. The Board of Directors, by majority vote, may remove Members of committees for cause, and unanimously without cause. The Board of Directors may authorize the President to appoint one or more Members who are not Directors to serve as advisory committee Members without a vote, and such advisory committee Members may be removed by a majority of the Board of Directors with or without cause at any time.

Section 3. Term.
Every member of a standing committee shall serve until the installation of a newly-elected President.

Section 4. Committees.

1. Fiscal Affairs.
   This committee shall have responsibility for preparation. of the annual budget, establishment of adequate reserves and periodic review of the insurance program. It shall also oversee collection and disbursement of assessments and expenses and other receipts and disbursements of Sub-Association monies. The Treasurer shall be chairman of this committee.
2. Personnel, Grounds and Equipment.
   This committee shall oversee the maintenance and preservation of the common elements, including the grounds, equipment and personnel to assure the smooth operation and functioning of the physical elements of the Community, and shall direct the efforts of the manager.
3. Liaison Committee.
   This committee shall serve as the communication link between the Board of Directors and third parties such as the Company, local municipal authorities, Sub- Associations and mortgagees of properties within Sun Valley P.U.D., and counsel for the Sub-Association, and the Sub-Associations. The President shall be chairman of this committee.
4. Owner Relations.
   This committee shall maintain two-way communications between the Board of Directors and the Sub-Association, and any other functions assigned by the Board of Directors.

Section 5. Jurisdiction.
Within the limits of the Board of Directors' own jurisdiction, any committee may be expressly empowered by the Board of Directors to fulfill its functions without further review by the Board. Otherwise, the actions of the committees shall only be advisory.

Section 6. Reports.
Each committee shall keep minutes of its proceedings and shall file a copy with the Secretary of the Sub-Association. A summary of all committee proceedings shall be presented to the annual meeting. A reasonable time within which to file such minutes and reasonable hours of inspections by interested Members may be fixed by the Board of Directors.