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Section 2. Powers and Duties. the Board of Administ>ators shall have the powers xnd duties necessary fret the administration of the of€airs of the Association and the Condominium Property Regime, and may do all such acts and things except as by law or by the Master Deed or by these Sy-:.axe may oat be delegated to the Hoard of Administrators by the suite owners. Such powers and duties of the Board of Administrators shall include but shall not be limited to the following: (a} Operation, care, upkeep and maintenance of the common areas, limited common areas, and facilities. (b} Determination of the common expenses required for the affairs of the Condominium, including, without limitation, the operation and maintenance of the Regime. (c} Collection of the assessments (which for- the purpose of these Ay-Laws shall mean such portion of the common exger•,ses as ar sayable by the respective owners) from owners, (~} u.'nploy;r._~.~ •„nd diSai~lSSa1 of ti:c ger5finrtel neCessarV for the maintenance and operation of the general common areas, limited common areas, and facilities. (e} Adoption and amendment of rules and regulations covering the details of the operation and use of the C`ondaminium Property Regime. {f} t7pening of bank accounts on behalf of the Association and desiclnating the signatories required there€er. {g} Qbtaining of insurance for the Condominium Property Regime, including the suites pursuant to the provisions of Article Vi, Section 1 hereof. {h} Making of repairs, additions anti improvements to or alterations of the Candorr.ir.ium Property Roc#ime and repairs to and restoration of the Condominium Property Regime in accordance witFi the ottrer prnvisinnv of these 6y-Laws, after damage or dt?stractinn .may fire ~~r •~ther casualty nr as a result of candemnatir~n or c,min?nt domain proceedings, Section- 3. Mana_ iris :gent and ~ansaci~r. `I`tre t3oard o% Aclt"iinistrator,~ may emipioy far trte Conc<nminium Property Regime a manacling agent and,i`or a manager at a compensation established by the Board of Administrators, to perform such duties and services as the Board of Administrators shall authorise, including but not limited to the duties Listed in subdivisions (a), Ec), (d), (g) and th) of Section 2 of this Article III, The 3oard ot" ~ldministratars may delegate to the manager or manaying agent, all of the powers granted r.o the Board of Administrators by these iiy-Laws other than the powers yet forth in subdivisions {b}, (e), (.*), of =ection 2 of this Arr.iclc• IIL, Section 4. tilection and Term. At the first annual me€=tint, cif the ~ssaciat.ian, the members of the Board of Administrators :>hai; tie ~3lect;ed to serve until r_he :7ext annu$1 meeting of the Assoc.ation; grovided that if saki next annual muting is less than six (fi) mUnths from thr> dateP of the first annual reeetiny, the Admi.riistratoi-s shah kic= e^lected tc~ :serve until. ths~ annual meting itrt~iediately fo.l.lowin<3 the next annual meFhting whii;h is less than six (6) months in the #:uture. Bach Administrator shall tre «lected thaec- af ter to serve a term of one (1) year ar until. his successor r,hall havc-* tseen drily elected toy ttie Association. ~,dmini^tratc>rs ~>hall hse elected by ttte vote of the owners c.3€ a majority of ttre t:rasic value caf t:he ct>ndomYna+am Property Regimes:, using rh? F~err_entageri yet Ie>rth ir, P.~ragrapti JI rif the Master heed.