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200505832 9. TERM OF OFFICE. The officers of the Association shall hold office for one year or until their successors are elected. Any officer elected by the Members may be removed at any time by the affirmative vote of the majority of all the Members. if any office becomes vacant, the Members shall elect a successor who shall hold office until the next annual meeting. 10. MANAGEMENT. The property and the daily business of the Association shall be managed by its officers. 11. DUTIES OF PRESIDENT. The President shall be the chief executive officer of the Association, preside at all meetings of the Members, and carry out all orders and resolutions of the Members. The President shall execute contracts on behalf of the Association, except when such authority is expressly delegated by the Members to some other officer or agent of the Association. 12. DUTIES OF VICE PRESIDENT. The Vice President shall, in the absence or disability of the President, perform the duties and exercise the powers of the President and shall perform such other duties as the Members may prescribe. 13. DUTIES OF SECRETARY. The Secretary shall attend all meetings of the Members and shall record all votes and the minutes of all proceedings on books belonging to the Association. The Secretary shall give, or cause to be given, notice of all meetings to the Members and special meetings of the Members, and shall perform such other duties as the Members or the President may prescribe. 14. DUTIES OF TREASURER. The Treasurer shall have the custody of the Association funds, keep accurate accounts of receipts and disbursements on books belonging to the Association and deposit all monies in the name of the Association in such depositories as may be designated by the Members. The Treasurer shall disburse the funds of the Association as directed by the President or the Members, and shall file, at least annually, a report of all transactions and the financial condition of the Association. If required by the Members, the Treasurer shall give bond for the faithful performance of the duties of the office if required by a majority vote of the Members of the Association. 15. COMMITTEES. The officers of the Association may act as the architectural control committee or the officers may designate two or more members to serve as the architectural control committee. In addition, the Association board or officers may appoint members to serve on other designated committees. 16. ANNUAL BUDGET. The officers shall prepare a proposed annual budget for the Association and a schedule of annual and/or special assessments for approval by the Association, send written notice of each assessment to every Member assessed, collect the assessments, issue a certificate upon request setting forth whether any assessments are paid or due, and exercise all other powers of the Association.