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_,__~-__ The acceptance of a deed or conveyance or the entering into of a lease or the act of occupancy of a condominium toxsnhome shall constitute an agreement that these By-Laws, ~~ xul~s and xegnsat=ons, and the provi.si<?n~ d~ ~ZS~ T3~~~e~ ~eeel, as i:i'iey rn~Y ~~ ~x~e~t~e~. prom tim~to times; are aee~ar~~s ratified, and wiiT be coa~plies~ wa~ti~. AF'rzcLE I1. Tey~xo owrr~xs. Section 1. r'ixznual Association Meetings. t3pon December 31, 1985, or as soon as the Deve3.oger, Brentwood Development Company of Grand Island, shall re- linquish control of the Board of Administrators, whichever shall first occur, the first annual meeting of the Assaci- anon shall be held. At such meeting, the oziginal Board of Administrators slxal3 resign a~ members of the So.~rd of Administrators and. as officers, ax:d all the members inclucina the Developer s:lai elect a new 3car~ of Adzzaini.stratars. TYzereafter, the annual meetings of the Association shall be he id on the 31st day of :~a}* of each succeevirc, yeaz, unless such date shall occur an a Satuzday, Sunday, ,~r 'ncliday, in which event the meeting shal3 he held on the succeeding business day. At such meetings the Soar a` ~t+-:r.inistraturs shall be elected by ballot c-f the members n accordance with the requirements of Sectio^^. ~ of i;rtic3.e Zi. ~a` t:-:ese By-Laws. So long as ttae Developer shall own one cr e:arc ::;f the tawnhames, the Develo~ier shad be Anti*_lecz to elect at least one member of the x3oard c~€ Adsrir:istratnrs w;z~ shall serve ±or a term of one 'sear. The. Associaion ay transact such other business at suc:^. r:;eetinc;s as :~:ay _~rc~r~:r:iy Name :~ef~re it. Section 2. S~eciai-riSe;nbers' ~~teet2ns. Spet_~al meeti*ars u± the Association members may be callea by the President ~r Vice President. rr by a majority of the IIosrd c~£ e~dministrutors nand must be cal3.ed upon receipt c:f written recuest from membc,rs holding a majority of the total basic va3ue of the Condominium. Property Regime using the -ercentac3es set :earth ir, ?aragra~ah VI the Master Deed. ~votiee o> a special meetin, shall state the time and, place cf sucki r.eetint, and the purpose thereof. No business, except t3',at stated in the notice, shall Y>e transacted at the spec~a1 z~eeting. Seeti.on f'iace of Meetings. Meetin+~s of the Associatia,^ members shall be held at t~'Ie .i"efj is*vered office of ttxe C.arparation yr at such other suitable place •~:ar.eeerient to the members as ^zay be desig- nated b_, the czoars3 of «~mini.stratars. Section h. vc.tice ~:f ~3eetin~.~s. It t.nall, be the :~'uty .,f the Secretary to mail a written native .. eav:~ annual. cr special meeting _>f the Association at leastjthix`ty #3G} but not :Wore +.han sixty ;60) r3ays prior to sa:::h meetn„ stating, the :urpose thereof as well as the time and place where ~~ is tc.~ be held, to each owner of record, at :.hair tawnhc-~e address or at such other address as such awz:er ss':ail ha<>o desi.~n ted by notice in writing to ttse Secretary. 'Phe mai°;.nc~ of a notice of r=.~eetinr3 r. the ~ranrer F>r:avi e3 by this Section shall be considered see vice :3 ti. n7tiCe. -~ 2-