Section 1. The fiscal year of the Association shall begin on the first day of January and end on the 31st day of December of every year, except that the first fiscal year shall begin on the date of incorporation.

Section 2. In the case of any conflict between the Articles of Incorporation and these By-Laws, the Articles shall control; and in the case of any conflict between the Declaration and these By-Laws, the Declaration shall control. IN WITNESS WHEREOF, we being all of the Directors of the CHANTILLY HIGHLANDS HOMES ASSOCIATION, have hereunto set our hands this 26th day of May, 1978. signed..