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~- $1® ~1t12~$`~ At such meeting, the original Board of Administrators shall resign as members of the Board of Administrators and as officers, and all the members including the Developer shall elect a new Board of Administrators. Thereafter, the annual meetings of the Association shall be held on the 31st day of March of each succeeding year, unless such date sha31 occur on a Saturday, Sunday, or holiday in which event the meeting shall be held on the succeeding business day. At such meetings the Board of Administrators shall be elected by ballot of the members in accordance with the requirements of Section 4 of Article III of these By-Laws. So long as the developer shall own one or mare of the suites, the Developer shall be entitled to elect at-least one member of the-Board of Administrators who shall serve for a term of o~tie year.. The Association may transact such other husiness at such meetings as may properly come before it. Section 2. Special Members' Meetings. Special meetings of the Association members may be called by the President oz Vice President or by a majority of the Board of Administrators and must be called upon receipt of written request from members holding a majority of the total basic value of the Condominium Property Regime, using the percentages set forth in Para- graph VI of the Master Deed. Notice of a special meeting shall state the time and place of such meeting and the purpose thereof. No business, except that stated in the notice, shall be transacted at the special meeting. Section 3. Place of Meetings. Meetings of the Association members shall be held at the registered office of the Corporation or at such other suitable place convenient to the members as may be designated by the Board of Administrators. Section 4. Notice of Meetings. It shall be the duty of the Secretary to mail a written notice of each annual or special meeting of the Association at least ten i10) but rot more than thirty (30) days prior to such meeting, stating the purgose thereof as well as the time and place where it is to be held, to each owner of record, at their suite address or at such other address as such owner shall have designated by notice in writing to the Secretary. The mailing of a notice of meeting in the manner provided by this Section shall 6e considered service of notice. Section S. Order of Bi~c~ness. The order of business at all meetings of the Association shall be as follows: (a) Roll Cail. {b) Proof of notice of meeting. (c) Readir.9 of minutes of preceding meeting. (d) Reports of officers. (e) Reports of Berard of Administrators. (f) Reports of committees. (g) Election of inspectors of election (when so required). th) Election of member of the Board of Administrators. (when so required). (i) Unfinished business. (j) New Business. -2-