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- 14 - <br /> <br />Association, whether such personnel are furnished with whom or <br />which it contracts. However, any such contract for professional <br />management shall provide for termination by either party, with <br />cause upon thirty (30) days prior written notice, and without <br />cause and without payment of a termination fee or penalty upo'n <br />ninety (90) days or less prior written notice. In addition, when <br />professional management of the Property has been required by any <br />First Mortgagee and in fact utilized by the Association, any <br />decision to discontinue professional management and establish <br />self-management by the Association shall require the prior <br />consent of (i) Owners of Houses to which at least sixty-seven <br />percent (67%) of the Votes in the Association are allocated and <br />(ii) the aproval of First Mortgagee's holding mortgages on Houses <br />to which are allocated at least fifty-one percent (51%) of the <br />votes in the Association. <br /> <br /> Section 5.3 Rules and Regulations. The Association may make <br />such reasonable Rules and Regulations governing the conduct of <br />any persons using the Property, and governing the general use, <br />maintenance and enjoyment of the Property, as it deems reasonably <br />necessary, which Rules and Regulations shall not be inconsistent <br />with the rights and duties established by the Governing <br />Documents. <br /> <br /> Section 5.4 Board of Directors. The power and authority of <br />the Association in the Governing Documents and Rules and <br />Regulations shall be vested in a Board of Directors elected by <br /> <br />the Owners in accordance with the Bylaws of the Association. The <br />Association shall act through the Board of Directors, unless <br /> <br /> <br />