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<br />EXAZBIT "B" <br />BY-LAt4S C1F FAiRiP11Y VILLAS <br />C~QDCfMiDTIODt PROP&RTY R$Git~ Z <br />1. The managmeaet of Fairway Villas Condo~afaium <br />Property Regime i, is hereby vested in Fairway Villas Owners <br />Association, a corporation farmed under the provisions of <br />the [aebraaka Ron-Frafit Corporation Act. <br />2. The Articles of incorporation of Fairway Villas <br />Owners Association and the By-Lava of that corporation, <br />which are marked, respectively, Exhibits B-1 and B-2, are <br />hereby iacorporated herein and made a part hereof by this <br />reference. <br />3. The Fairway Vi11as Owners Association is subject <br />to the terxa~s of the Master Deed and may not violate, change <br />or amend that Neater Deed. <br />