Instriment# 2005-256417 # 15 Book: 5654 Page: 26
ARTICLE IX
BOARD OF DIRECTORS ELECTIONS AND MEETINGS
9.01. The affairs and property ofthe Corporation shall be managed and governed by a Board ofDirectors composed ofnot less than three(3)nor more than(9)persons.
9.02 The initial Board ofDirectors shall consist ofthree(3)persons, who need not be Members who are entitled to vote in the Association, and who shall be appointed by Declarant. The initial Board ofDirectors named in the Articles shall serve until the termination ofthe Class B Control Period and the Owners,other than Declarant,are entitled to elect the Directors in the manner set forth herein. Vacancies in the initial Board ofDirectors appointed by Declarant may be filled by Declarant. 9.03 On the termination ofthe Class B Control Period,as provided herein,the number of persons on the Board of Directors shall automatically be increased to (9) persons, and the Owners,other than the Declarant,shall be entitled to elect a majority ofthe Board ofDirectors at a special meeting called for that purpose. At such meeting after the election of the Board of Directors, Declarant shall deliver to the Association the contributions to working capital as required in the Declaration, less pre-paid items which shall be pro-rated. After the election of a majority of the Board by the Owners, other than the Declarant, vacancies occurring between annual meetings ofthe membership shall be filled by the remaining Board members. .9 .04 . Nothing in the Declaration shall be amended, interpreted or transferred, to prevent Declarant or its contractors or subcontractors from doing or performing in all or any part of the Property actually owned or controlled by Declarant, its transferees, or its or their contractors or subcontractors as the case may be, whatever they determine to be reasonably necessary or advisable in connection with the completion of the development ofthe Property, including, without limitation. (1) Erecting, constructing, and maintaining thereon such structures and vehicles as may be reasonably necessary for the conduct of Declarant's business of completing and establishing the Property as a residential
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