HomeMy WebLinkAbout1188 Association of a ropy of such instrument. The owner designated by
such instrument thus becomes a member of the Association and the
membership of t11e prior owner is terminited.
4.3. 'I'hc share of a member in the funds and assets of the
Association cannot. be assigned, hypothecated or transferred in any
manner except as nn appurtenance to his condominiwn unit.
4.4. The owner of each condominium writ shall be entitled to at
least one vote as a member of the Association. "1'he exact number of
votes to be cast by owners and-the manner of exercising voting rights
shall be determined by the Bylaws of the Association.
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5.1. The affairs of the Association will be managed by a board
consisting of the number of directors determined .by the Bylaws of
the Association, but not less than three directors; and in the absense
. of such determination shall consist of three directors. Uirectors
need not be members of the Association.
5. 2. r\11 of the,d~ities and powers of the !association eYistinl;
wider the l;orldominium Act, Declaration of Condominium these Articles
and Bylaws shall he exercised exclusively by the Board of Directors,
its agents, contractors or employees, subject only to approval by
wait owners when that is specifically required.
5, 3. Iirectors of the~Association will be elected at the annual
meeting of the members in the manner determined by the Bylal~rs of the
Association. Uirectors may be renwved and vacancies an the Board of
Uirectors will be filled in the manner provided by the Byla~.~s of the
Association.
5.4. 7'he first election of the directors will not he held until
after the Developer has closed the sales of all of the condominium
units of all condominiums established by it upon the lands described
in Article 2 hereof, or until it elects to tCr'i111TiatC its control of
the Association, or until llecemhcr 31, 1980, whichever first occurs.
"1'he DirnrtnrS narncd in these Articles will serve until the first
E1CCt1011 Of d1rCCtOrs and any VaCaI1C1GS 111 t11C11' lllllllbcl' OCCllrt'lil~
before the first election will be filled by the remaining directors.
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5.5. "I'he names and addresses of the members of the first Board
of Uirectors wllo shall hold office until their successors ar.e elected
!i and have qualified or until removed, arc as follo~.~s:
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'I'0\Y 50"1'ULU~\GU 1U04d Strltc Road A-1-A
Jensen Beach, l~lorida 33457
FAI'l'll SU'1'ULU,tiGU 10044 State Road A-1-A
g Jensen Beach, Florida 33457
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RUSSELL [IUVIi\ 519 N. .Dover (toad
"1'equcsta, rlorida 33458
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` ARTICLE V
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'l~he :1 f f:l i rs o f the Assoc i a t LOIl wi 11 be administered by the officers ,
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