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~lssoci~tion of :i co~~y of sucii instrume~it. '!'hc owner desi~;nateei by
such instrument thu~ hecomes a memUer of the Association and the
members}~ip of the prioi• owtici• is terminited. ~
A,3, '1'hc tihar~~ ot~ a mcu~l~er ii~ thc funcls ancl assct-s of thc
Assoc i at i on caiu~ot hc atis i~»ecl, hypothccatc~J ar t rans fcrrca in any
manner excel~t .is ~in u{~~urten.uice to his conJominium tU11t.
4. 4. 7'!ic ~~~~ri~cr o f cach canclom i n i tnn un i t sha l l hc enti tl c~l to ut
lcast one vote :is a member of the ASSOCl:lt10J1. 7'hc exact number of' '
voics to bc c.~s t bv o~ancrs ancl thc manncr o f exc rc i s ing votink rights
shall be cleterminecl by the 13ylaws of the Associ.ition,
.\It7' I l:Lli S
U I It1iC7'ORS
5. 1. "I'hc :~ Cf.i i rs of thc nssoc iat i on w i 11 hc mana~eci by << l~oarJ
co~isisti~i~; of thc numUcr of dii•cctors detcr~uinccl_by thc liyl.~~~~ oE
thc Ass~ociation, b~~t not less than threc clirectors; and in thc absense
~f sucli cletermin:~t.ion slrall consist oF three directors. Uirectors
Tieecl not be inembers of tlie Associatioii.
5.2. ~~11 oF thc duties and ~~owcrs of thc !1s~or.iation c~istin~;
wiclcr thr Coneiutniniwn nc:t, lleclaration oi~ Conclominiinn these Articles
111c1 Byla-.s sl~al i hc cxcrciscd cx~lusivcly b}~ thc Board of Directors,
its agents, co~il.ractors o~r employ~~es, sul>ject otily to approval by
Ulllt o~ancrs -~rhen tliat is specifically requireel.
5.3. I)irc~tors ol~ tlie tlssociation ~ei I1 bc electecl .it tl~e ac~nu~il
mectin~; oC thc iiicmbcrs in thc manncr cletcrmined l,y the l3yla-JS of the
~lssoci:ition. llirectors mav be remaved ancl vacancies on the lioarcl of
~ Ui rcctors ~tiill bc ~i llecl. in tl~e manncr proviclccl by tjie Byla~rs of tlic
Associatioii.
5.4. '1'he fir~t election of thc ~lircctors will ~~ot bc hel~i until
aFtcr thc Ucvclorcr has closc~l thc salcs of all of thc conclominium
units oE al l conclominiu~ns establ ishc~ by i t u~~on thc lands dcscr~ihcd
in Article 2 hereof, or.until it elects to terminate its control of
the Association, or until ~ecemher 31, 1~18U, tirhicheve~ first occurs.
'1'he llirectors namecl in the~c Articles will scrve until the first
I:lection of clirectors ~incl any vacancic~ in their nu~~iber occurrin~;
beLore thc £irst election will be filled by thc ren:ainin~; directors.
5. S. '1'1ie nantes and addressc~s o f the members o f th~ f i rst lioa rcl
of Ui rectot-s who ~hzl l i~olcl of Cice unt i 1 tl-e i r sur.cessors are elected
aiid have qualitie~l or until removed, arc as follo«s: '
'fONY SU'1'UL01~GU 100d4 Statc ltoacl A-1-A
Jc~isen I3cach, I~lorida 33a57
PAI"1'll SO'fOLONGO 100d4 St:i tc ROa~I ~1-1-E~
Jenseii Beacl~, Floricla 33457
ItUSSIiLL IIUVIi~ 519 N. Uovcr Roacl
7'ec~ucsta, floricla 33453
` ~ AR'1'ICLE G
01~1~ I CL'R~
7'lic .iffairs o! the Associ:ition will be acimiriisterecl by tlic ofiiccrs
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