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a~-LAws o~ FR3ir'CIS VILLAS OWIJERS ASS43CIATION ZNC. ARTICLE I. Nlame and-Location The name c£ the corporatan is Francis Villas Owners ~.ssccatian, hereina±r_er :referred to as the "Association". The principal: office ,~f the corporation sha31 be lacated at ^,ran3 Tslanc, Ha 11 l.cunty, Nehraskar but meetings'. of the Directors may be held -~_ >4ch places within the State of ,~de~braska ag may be:; .~~siynated by the. Hoard aP Directors. ARTICLE ZI: Def'ihit:csns As used herein, wards sreci£ically defined in the A4aster.LYeed:; which creates the Francis Villas Condominium Proner~y Registte shall have the same:.: meaning as in these By- i;aws. ; AFt'FIGI.E SI_ Members Sectican 1. ~4emtaershig, The corporation n~8 been ,-irgani2ec's to provide a means cf management for Francis 'Jil'_as ~:cndominium Fzaperty 'Regime, a Nebraska.Condomini;im prcpert;~ regime in brand Zsiand, Hamel Coiu;ty, Nebraska. Leery per:san :ar entity who is:a record r~wner of a see car undivided .`ee ir.teresC in any villa n the cc-ndominium shall autasnaticaily be a men.ber ofthz Association upon .critter. noti:;e to the Assn faller. by the record owner ~.f ttte owner's interest. The vote on behalf of a ~:-i.lla shall be cast in persc:n by the record owner thereo*, c>r by proxy, bu*_ if a villa is ~rwx~er by :n,~r.e than one person cr. by a corp~.~ration or other en*_ity, such vote shall be :•ast, car proxy executed, by the person named iP. a certificate signed by all of the c~kners or` the villa and filed with the Secretary ~.f the e+ssaciatian. Title to villas may ne taken in the name of an individual ~r in *_he names of two or r,~ore F>ersons, as tenants in corrunan cr as point tenants ar as tenants by the entirety, c-r ir, the name of 3 corporation ur partnership ar in the name of a fiduciary. The owners of each villa shall have one vote for each ~riila. Section 2 Annual AascCiaticn ueetings. L±pon L~eczsnber 33, i98~, s_r as soon as the Developer, 3oaselman, Inc. ~f Grand Ssland, shall relinquish cont:r+3?~°hf the £;;ar~3 0£ ':=ireetors, whichever shall fiirst occur, the first annum meeting of the Association shall be held- A;; such rreetia„ '.:he original Board of Directors shall rasi7z as members :~f the 9vara of Directors and as :~fficer.s, anu all the mer,;bers ncludng tine Beveloper siza.l .._ert ;new S~~-az'd :~` ~?irectors. 7`hereafter, the annual -veetinc~s ~.. the ~ssac.iati::n shall ire held ~n the 31st Say .;f ?tr3y ~::~£ earl: .,~.:cceedi:.g year. •::nlzss such r3ate shall. scour •:~n ~ Suturiiay, >uruay. ~>r holiday, in which eve;~t the rtec~ting sha.1 be ::cold ,_ the. succeeainy bnsinr~ss day. Pit sa-~ch a~etin:s the ~tioard _1_. .:7 ~ ,. ,_ ,., .. .S ~. ~.: