Amendments may be proposed by the board of directors

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percentage interest in the Condominium. Amendments may be proposed by the Board of Directors or by petition signed by members representing at least twenty-five percent (25%) of the total units of the Condominium. A description of any proposed amendment shall accompany the notice of any regular or special meeting at which such proposed amendment is to be voted upon. Notwithstanding anything else to the contrary contained herein, if amendments are required to ensure the continued eligibility of the Condominium to qualify for FHA or VA loan guarantee or secondary mortgage participation, the Board of Directors, by unanimous vote, may adopt any amendments which may ensure such qualification provided the Unit Owners are infornled of the proposed amendments and are given 45 days to call a Special Meeting to rescind the Board's proposed action. Section 2. Mortgagee Approval. These Bylaws contain provisions concerning various rights, priorities, remedies and interests of the mortgagees of units. Such provisions in these Bylaws are to be construed as covenants for the protection of the mortgagees on which they may rely in making loans secured by mOligages on the units. Accordingly, all first mortgagees shall be given thiIiy (30) days notice of all proposed amendments, and no amendment or modification of these Bylaws impairing or affecting the rights, priorities, remedies or interests of a mOligagee (including the mortgagee's use of a secondary mortgage market, i.e., the salability of mortgages to MOligage Guaranty Insmance Corporation, Federal National MOligage Association, Federal Home Loan Mortgage Corporation, etc.) shall be adopted without the prior written consent of the first mortgagee. Ifthere is more than one mortgagee holding mortgages on the units, it shall be 36
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[lum 4 8 6 4 fllUD 0 5 8 El sufficient for this purpose to obtain the written consent of the mOligagee or mOligagees holding mortgages on seventy-five percent (75%) or more of the units encumbered by mortgages. Notwithstanding this provision, the Council shall be entitled to adopt and record such amendments if it complies with Section 11-104 of the Act. ArticIeXN Miscellaneous Section 1. Notices. Unless otherwise provided in these Bylaws, all notices, demands, bills, statements, or other communications under these Bylaws shall be in writing and shall be deemed to have been duly given if delivered or if deposited in the United States Mail with sufficient first class postage prepaid: (a) If to a Unit Owner, at the address ofthe unit of such Unit Owner or, if other than the unit, at the address which the Unit Owner has designated in writing and filed with the Secretmy; (b) If to the Council, the Board of Directors, or the management agent, at the principal office of the Councilor the management agent, if any, or at such other address as shall " be designated by the notice in writing to the Unit Owners pursuant to this Section; (c) Notices of regular or special meetings of the Board of Directors may be given in any manner determined by the Board of Directors in accordance with the Act, the Declaration, these Bylaws and any applicable county ordinance or state code provision.
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