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the Board of Directors by a majority vote of a quorum consisting
of Directors who were not parties to such action, suit or proceeding.
- C. The foregoing rights of indemnification are not
intended to limit and shall not be deemed to limit in any way the
powers of the Association to indemnify under applicable law.
ARTICLE VIII
CORPORATE EXISTENCE
The Association shall have perpetual existence.
ARTICLE IX
BY-LAWS _
The Board of Directors shall adopt By-Laws consistent
with these Articles and the By-Laws may be altered, amended or re-
scinded in the manner provided by said By-Laws.
ARTICLE X
AMENDMENT OF ARTICLES OF INCORPORATION
These Articles may be altered, amended or repealed by
resolution of the Board of Directors--and Vote of seventy-five (75) per-
. cent of the members after not less than twenty (20) days written notice
to all of the members informing them of the specific amendment to be
voted upon. No Amendment affecting Tarpon Bay Villas, a Florida
partnership, its designee, successor or assignee, as Developer of
Tarpon Bay Villas (as the same is defined in the amended Declaration of
Covenants, Restrictions and Easements for Tarpon Bay Villas) shall
be effective without prior written consent of said Tarpon Bay Villas,
its designee, successor or assignee, as Developer, as long as De-
veloper is the owner of any Lot or Dwelling Unit in the Tarpon Bay
Villas or for a period of two (2) years from the date of re-
cording the amended Declaration of Covenants, Restrictions and Easments
in the Public Records of St. Lucie County, Florida, whichever event
first occurs.
~~331 p~ 94T
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