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~' ~ =r _~ -~ - ,.., t) 014' ~ 3 values set forth in Paragraph VI of the Master Deed. Those values shall refer to total townhomes and rot merely to ' ~ values of townhomes, the owners of which are in attendance, __ in person or by proxy, at reetings where votes are conducted. ARTICLE XI. TERMINATION OR AMEhTDB~NT. Section i. Termination. Except as otherwise provided, owners holding seventy- five percent {5~} err more of the basic value of the Condo- minium Property Regime, using the values set forth in Para- graph VI of the Master Deed, shall have the right to termi- nate this Condominium Property Regime, subject to the conditions of Section ?6-812 of the Condominium Act, and provided that nc termination may be agreed upon without not less than thirty (30} and not more than sixty (60} days prior written notice to all then members of the Association. Section 2. Am=ndment by Owners. There s:~aail be no amendment to these By-Laws unless owners holding seventy-five percent (75~} or more of the basic value of the Condominium Property Regime, using the values set forth in Paragraph VI of the Master Deed, shall have voted therefor in the affirmatives at a special err annual meeting; provided, however, that percentage voting requirements contained in these By-Laws shall not be amended by a lesser percentage vote than that sought to be amended, and provided further that such amendment shall have the approwai of more than fifty percent {50~}, in number, of the first mortgagees of record upon the date of adoption of said amendment. Sector. 3. e'~mendmen~- ~a-}~ t~eve3oper -nything Lcntained zn these Hy-haws or in the Master Deed or Articles r,f Sncorporatior. tc the contrary notwith- standing., until £;~ecember 31, 1985, err until Developer re- leases contr+al of the Association, whichever first occurs, Developer reserves the right tc supplement err amend these By-Laws for c:iarification, correction or otherwise in the best interests of all r_ownhos~e owners, including Developer; provided that any such supplement err amendment shall be approved by :tore than. fifty percent (50~}, in number of all existing first mortgage holders of record, in writing. ARTIC:.E KI2. RECORDS. Section 1. Records and Audit, fihe Board of .administrators or the managing agent shall keep detailed records of the actions of the Berard of Ad- ministrators and the managing agent, ~ainutes cf the meetings of the Board of Administrators, minutes of thc. meetings of the Association, and financial records and books of account of the Cor{~oration and the Condominium, including a chrono- logical listing crf receipts and expenditures, as well as a separate account for each tawnhame, among other things, shall contain the a<rount of each assessment of common charges against such townhcme, the date when due, the amounts paid thereon, and the balance remaining unpaid. A written report summarizing all receipts and expenditures of the Corporation and Condominium shall be rendered Yay the Board of Adminis - trators tc all townhome owners at least semi-annually. Ir, addition, a:*~ annual report of the receipts and expenditures -20-