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4. Powers azxl duties oP the i.~ca: d of Directors. All of the pcVrers
and duties of the Association e::isting under the Condo:;,3niurr? ~+ct, ~e-
claration of~ Condominium, Articles of Incorporation ar.d these 3y-Iz~•;s
sha12 be exercisza exclusively by the Eoard of Directors, its agents,
contractors or employees, sub~ect only to approval by condomin~tim unit
ok•ners wnere such approval is specifically required. without li~r:itin~ ;
the ~owers and duties of the 3oard of Directors, it shall have the fol-
lowir~ express powers, in addition to aIl others herein granted, and
prov3ded for by the Declaration of Condomir.ium and the Condominium
Act, to wit:
(a) To enter into a Ninety-Nine Year L2ase on
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recreation area, in behalf of and in the name of the t
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Association.
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(b} To enter into a long-term managemant contract, '
providing for the managem~ent of thz condomi.nium property
and of the recreation area.
(c} ~o enter into contracts for the purpose of .
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~ making available to tr.e owners of condominium units and
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~ the residents of the condominium apartment bLilding such
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i services as, bu~ not limited to, door man _arxi autom.obile
~ parking; rr~aid service; security alarm system and the
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~ like, provided, however, that the term or period of such
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~ contracts shall not exceed fifteen (15) years, and pro-
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? vided, further, that said contracts may provide for ad-
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~ ditional extensions of the original term in the absence
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~ oi written notice of termination by either party. I~o s
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~ such contract shall impose any involuntary r~onetary obli-
~ gation or assessment upon any resident of ~he condominiu:~
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~3 building or upon the Kssociation, bu~ shall serve only to ;
~ rr?2ke available such services at the election and optior~ ~
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~ of tY~e user. ~ ~
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5. Orficers.
Y~ S.1 ^ne executive officers of the Association shall ~e a
President, who shall be a director, a Vice-President, wro shall :
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~ooK198 PacE2876
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y ~AVr OFF:CES GF GGLDS7C~N. FRA~IXLIN, CKONIN & SCHRAtsK, A.. 2020 NORTMEAST 1G3ao 57REET. NORTH MtAHI BEAGH. FLCR~Ca :;3: „2
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