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successors are elected are as follo~ws:
Robert C. Beasley~ President
Milo M. Abercrombie Vice President
William B. Hale Secretary and Treasurer
ARTICLE VII~I.
l. The affairs of the Condominium Association shall be
manaqed by a Board of Directors. The first Board of Directors
of the Condominiwn Association shall consist of three (3) persons
whose names and addresses are as follows:
Robert C. Beasley 9700 AlA. Rural Routie 2
Jensen Beach, Florida
William B. Hale• 9700 AlA, Rural Route 2 .
Jensen Beach, Florida
Milo M..Abercrombie 9700 AlA, Rural Route 2
Jensen Beach, Florida
The first Board of Directors shall serve until the first annual
meeting of the merabership following the sale by Finisterre Corpora-
tion (its successors and/or assigns) of 100$ of the apartments
to be governed by this Condominium Association (hereinafter referred
to as "first effective annual meeting") or until such earlier
annual.meeting of the membership as Developer elects. Prior to
the "first effe~tive annual meeting" of the membership, directors
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j on the first Board of Directors shall be replaced in accordance
i -
~ , with Section 2 of this Article.
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~ 2. Prior to the "first effective annual meeting" of
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I the membership, the replacement of inembers of the first Board
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~ of Directors (due to resignation or otherwise) shall be administered
d
i in accordance with the following guidelines and procedures: so
' long as Finisterre Corporation.or its successors or assigns (the
P
; "Developer") awns title to more than 15$ of the apartments
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~ to be governed by this Condominium Association, it shall have
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= the right to appoint all members of the first Board of Directors;
s
~ when the Developer shall own title to 15$ or less of the
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4 6o0K 2~5 PAGE 1O5
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