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the original Hoard of Directors and Officers of the Association are
owners or some or all of the stock of the said management company,
and that such circumstance shall not be construed or considered as a -
breach of their duties and obligations to the Association, nor as
grounds for the invalidation of the Management Agreement in whole or
in part.
The foregoing were adopted as the By-Laws of The Colonnades
Gondominiums No. 1, Inc., a corporation not for profit under the
laws of the State of Florida, at the first meeting of the Board
of Directors on the 15 day of Sop~. , 1970. ~
S/ aerald ~'ranklin
Secretary
Approved:
s/ S. J. Brosilow
Presi ent
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LAW OFiICES OF GOLDfT[IN. FRANKLIN. CHONIN ~ SCHRANK. P. A., 2020 NORTHEAST 163~o STREET. NORTH MIAMI BEACH. FLORIOA l3162 ~