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,� c o 4 coo ; -3 Section 8. Special Board Meetinas. Special meetings of the Executive Board may be called by the President upon five (5) business days' notice to each member of the Board, given by mail, which notice shall state the time, place, and purpose of the meeting. Special meetings of the Executive Board shall be called by the President or Secretary in like manner and like notice on the written request of at least three (3) members of the Executive Board, unless there are less than three (3) members, in which event, upon the written request of the one or two remaining. Section 9. Waiver of Notice. Any member of the Executive Board may, at any time, waive notice of any meeting of the Executive Board in writing, and such waiver shall be deemed equivalent to the giving of such notice. Attendance by a member of the Executive Board at any meeting of the Board shall constitute a waiver of notice to him of the time and place thereof. If all the members of the Executive Board are present at any meeting of the Board, no notice shall be required and any business may be transacted at such meeting. Section 10. Quorum. At all meetings of the Executive Board, a majority of the members thereof shall constitute a quorum for the transaction of business, and the votes of a majority of the members of the Executive Board present at a meeting at which a quorum is present shall constitute the decision of the Executive Board. If at any meeting of the Executive Board there shall be less than a quorum present, a majority of those present may adjourn the meeting from time to time. At any such adjournment at which a quorum is present, any business which might have been transacted at the meeting originally called, may be transacted without further notice. Section 11. Fidelity Bonds. The Executive Board may obtain adequate fidelity bonds for all officers and employees of the Association handling or responsible for Association funds. The premiums on such bonds shall constitute a common expense. Section 12. Compensation. No member of the Executive Board shall receive any compensation from the Association for acting as such, except that members shall receive reimbursement for expenses actually incurred by them as Directors. Section 13. Liabilitv of Directors. The members of the Executive Board shall not be liable to the unit owners for any mistake of judgment, negligence, or otherwise, except for their own individual willful misconduct or bad faith. The members of the Executive Board shall have no personal liability with respect to any contract made by them on behalf of the Association. Every agreement made by the Executive Board or by the managing agent or by the manager on behalf of the Association shall provide that the members of the Executive Board or the managing agent, or the manager, as the case may be, are acting only as agents for the Association and shall have no personal liability thereunder. Section 14. Expansion of Jurisdiction. Declarant initially established two (2) units and has reserved the right to add up to seventy - seven (77) more units and additional lands or lots being Lots Two (2) through Twenty -nine (29) inclusive, Village Third Subdivision to the City of Grand Island, Hall County, Nebraska, to the condominiums. Upon the filing of an Amended Master Deed and Declaration, the owners of the additional units shall automatically become members of this Association and the common expenses and the undivided interests in the common areas will be reallocated upon a formula utilizing the square footage of each unit divided by the total square footage of all units. Each unit shall remain entitled to one (1) vote per unit. The number of votes for the expanded Association shall be the aggregate number of votes and the rules for a quorum, for determining whether an action shall be taken, for election of the members of the Executive Board and all other purposes shall be as provided in these By -Laws. 5