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200112096 _ <br />votes held and exercisable by the Declarant Members or, on December <br />31, 2001, whichever event is the earliest to occur, then in either <br />of such events, the votes held and exercisable by the Declarant <br />Members shall be one vote per lot. <br />E. Meetings. Meetings of Members shall be held as follows: <br />1. Annual meetings of the Members shall be held on the <br />first Monday in November of each calendar year beginning in 2000, <br />at such place as may be directed by the Board of Directors. <br />2. Special meetings may be held upon the call of the <br />Board of Directors. <br />3. The President, Vice - President, or a substitute shall <br />preside at all meetings of Members and the Secretary or a <br />substitute shall record the Minutes of all meetings of Members. <br />4. Members of either class present in person or by proxy <br />shall constitute a quorum for any meeting of the Members. <br />5. Each Resident Member and Declarant Member shall be <br />entitled on the election of the Director to cast in person or by <br />proxy as many votes accumulatively or otherwise for each such <br />membership held as there are Directors to be elected and shall be <br />entitled on any other matter or question voted upon by such Members <br />or by proxy, one vote for each such membership held, provided that <br />no limitations contained herein with respect to the voting or <br />holding of proxies shall apply with respect to the Declarant <br />Members. <br />6. Unless otherwise required by these Bylaws, the <br />majority vote of the entire membership of votes of Members present <br />in person or by proxy at any annual meeting or the majority vote of <br />the entire number of votes of any one or both membership classes <br />present in person or by proxy at any special meeting shall decide <br />any matter or question voted upon by such Members. <br />F. _Action Without Meeting. The Board of Directors may in <br />place of holding any special meeting of memberships submit any <br />matter or question to and take the vote of such Members by mail. <br />G. Privileges. Members shall be entitled to privileges as <br />follows: <br />1. Subject to regulations or rules from time to time <br />adopted by the Board of Directors, all individual Resident Members <br />and their respective families and guests shall be entitled as <br />appropriate to enjoy or otherwise to use all common facilities and <br />all common individual services operated or provided by the <br />Corporation. <br />-2- <br />