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• V26229P 10 such other location which may be more convenient . The purpose of this meeting will be to elect a three member committee (the Committee) from among the owners of the Lots to act as the successor of SBP to perform all of SBP's obligations and to possess all of SBP's rights under these Covenants. If SBP does not call the meeting to elect a Committee In a timely manner , at any time after that 90th day, any owner of a Lot may call a meeting of all the owners to elect the Initial members of the Committee. Once the Initial members are elected, the owners shall have the right to remove and replace members of the Committee at any time with or without cause. A member may resign from the Committee at any time. For the purpose of electing or replacing a member of the Committee, a quorum of owners shall consist of 40 % of the owners. Members of the Committee shall be elected by a plurality of the votes cast by the owners entitled to vote In the election at a meeting at which a quorum Is present. For purposes of quorum and voting, each Lot shall constitute one owner and one vote. SBP and the Committee shall have the right from time to time to record documents evidencing the establishment of the Committee and the election of its current members. Reasonable prior notice of not less than seven business days shall be given of all meetings of the owners. IN WITNESS WHEREOF, the undersigned parties have executed this document this 7 th day of January 19 94 . SCHERRER-BURKE PROPERTIES By - J. 'Scherrer , Partner BY Z4. ji La Arlene S. Burke, Partner AUTHENTICATION Signatures of Roger J . Scherrer and Arlene S. Burke authenticated this 7th day of January, i1994. II "J rtes L . " -,` t - 14t for ney Member State B' r of Wisconsin P ""`I' Authorized Under Section 706.06, ��fP• // 1 _T'_s.- W i scons I n Statutes ,77 • V,m 'ran V.) , ` f PC S, rrl d`✓i s S535". Page 10 of 10 pages