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<br />200602228 <br /> <br />Section 5. Removal of Directors. <br /> <br />At any regular or special meeting of the Association, anyone or more of the <br />members of the Executive Board may be removed with or without cause by a vote of a <br />majority of the members and a successor may then and there or thereafter be elected to <br />fill the vacancy thus created. Any members of the Executive Board whose removal has <br />been proposed by the Association owners shall be given reasonable notice of and an <br />opportunity to be heard at the meeting. <br /> <br />Section 6. Vacancies. <br /> <br />Vacancies in the Executive Board caused by any reason other than the removal of <br />a member thereof by a vote of the Association shall be filled by vote of a majority of the <br />remaining Directors at a special meeting of the Executive Board held for that purpose <br />promptly after the occurrence of any such vacancy, even though the members present at <br />such meeting may constitute less than a quorum, and each person so elected shall be a <br />member of the Executive Board for the remainder of the term of the member so removed <br />and until a successor shall be elected at the next annual meeting of the Association. <br /> <br />Section 7. Annual Board MeetinQ. <br /> <br />The annual meeting of the members of the Executive Board shall be held <br />immediately following the annual meeting of the Association, at such time and place as <br />shall be fixed by the Association at the meeting at which such Executive Board shall have <br />been elected, and no notice shall be necessary to the newly elected members of the <br />Executive Board in order to legally constitute such meeting, providing a majority of the <br />whole Executive Board shall be present thereat. <br /> <br />Section 8. Special Board Meetinas. <br /> <br />Special meetings of the Executive Board may be called by the President upon five <br />(5) business days' notice to each member of the Board, given by mail. which notice shall <br />state the time, place, and purpose of the meeting. Special meetings of the Executive <br />Board shall be called by the President or Secretary in like manner and like notice on the <br />written request of at least three (3) members of the Executive Board, unless there are less <br />than three (3) members, in which event, upon the written request of the one or two <br />remaining. <br /> <br />Section 9. Waiver of Notice. <br /> <br />Any member of the Executive Board may, at any time, waive notice of any meeting <br />of the Executive Board in writing, and such waiver shall be deemed equivalent to the giving <br />of such notice. Attendance by a member of the Executive Board at any meeting of the <br />Board shall constitute a waiver of notice to him of the time and place thereof. If all the <br />members ofthe Executive Board are present at any meeting of the Board, no notice shall <br />be required and any business may be transacted at such meeting. <br /> <br />Section 10. Quorum. <br /> <br />At all meetings of the Executive Board, a majority of the members thereof shall <br />constitute a quorum for the transaction of business, and the votes of a majority of the <br />members of the Executive Board-present at a meeting at which a quorum is present shall <br />constitute the decision of the Executive Board. If at any meeting of the Executive Board <br />there shall be less than a quorum present, a majority of those present may adjourn the <br />meeting from time to time. At any such adjournment at which a quorum is present, any <br />business which might have been transacted at the meeting originally called, may be <br />transacted without further notice. <br /> <br />5 <br />