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HomeMy WebLinkAbout1923 f 5.2 Directors of the Association will be elected at the annual meeting of the members in the manner determined by the By-Laws of the Association. Directors may be removed and qacancies on the Board of Directors will be filled in ; the manner provided by the By-Laws of the Association. 5.3 The first election of directors will not be held until the Developer has closed the sales of all condominium apartment units as anticipated by it for the three separate condominiums, denominated Island House Condominiums, Phase I through Phase III, to be established by it upon the lands described in Article II hereof and in Exhibit A, attached hereto and ; by this reference incorporated herein, or until it elects to terminate its control of the Association, or until June 30, 1977, whichever first occurs. The directors named in these ' . Articles will serve~until the first election of directors and ~ any vacancies in their number occurring before the first election will be filled by the remaining directors. 5.4 The names and addresses of the members of the first Board of Directors who shall hold office until their successors are elected and have qualified, or until removed, are as follows: Patrick B. Lally 1906 York Court Fort Pierce, Florida ~ ~ i Judith A. Lally 1906 York Court - ~ Fort Pierce, Florida ~ Suzanne L. Carnell 2347 - 20th Avenue ; Vero Beach, Florida - ~ ARTICLE VI Officers f i The affairs of the Association will be administered ~ by the officers designated in the By-Laws of the Association. } ! Said officers will be elected by the Board of Directors at ~ ~ its first meeting following the annual meeting of the members of the Association and will serve at the pleasure of the Board ~ ~ of Directors. The names and addresses of the officers who will a serve until their successors are designated are as follows: ~ Pres~ident Patrick B. Lally 1906 York Court ~ Fort Pierce, Florida 3 ~ Vice-President Judith A. Lally i~ 1906 York Court € Fort Pierce, Florida . ~ Secretary-Treasurer Suzanne L. Carnell ~ ` ~ 2347 20th Avenue { ~ Vero Beach, Florida ~ ~ ~ ARTICLE VII - ~ ! • Indemnification ~ ~ ~ Every director and every officer of the Association will ' be indemnified by the Association against all expenses and -4- ~ FEE. PARKER Q FEE. P. A. ~ i At70NNEY$ AT I,AW ~/lfiu4~~ vv~? P05T O~FICE BOIt 1000 FORi PIERCE. iLONIDA ~3430 - • - _ ~ ~ z:~` : ~ ~ - ~ ` _ - , Y