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Section 4. Ouorum. The presence at the meeting of members entitled to cast, or of proxies entitled to cast ten percent (10%) of the votes of each class of membership shall constitute a quorum for any action except as otherwise provided in the Articles of Incorporation, the Declaration, or these Bylaws. If, however, such quorum shall not be present or represented at any meeting, the members entitled to vote thereat shall have power to adjourn the meeting from time to time, without notice other than announcement at the meetin~, until a quorum as aforesaid shall be present or be represented. Section 5. Proxies. At all meetings of members, each member votes in person or by proxy. All proxies shall be in writing and filed with the secretary. Every proxy shall be revocable and shall automatically cease upon conveyance by the member of his or her Lot. A proxy is valid for 11 months unless a different period is expressly provided in the proxy, provided, however, that a proxy is not valid for more than three years from its date of execution. ARTICLE IV. MEMBERSHIP AND VOTING RIGHTS The terms of ARTICLE II of the Declaration governs membership and voting rights in the Association and the terms of said ARTICLE II are specifically restated and incorporated herein by this reference. ARTICLE V. SELECTION OF BOARD OF DIRECTORS AND TERM OF OFFICE Section 1. Number. The affairs of this Association shall be managed by a Board of Directors. The first Board of Directors shall consist of the persons designated as directors in the Articles of Incorporation of the Association, who need not be members of the Association. Upon the ending of the terms of the first Board of Directors, the Board of Directors shall be composed of five (5) Directors, all of whom shall be members. Section 2. Term of Office. At such time as there are twelve (12) Class A memberships, a special meeting of the Association shall be called to elect one (1) director from the Class A membership for a term of two (2) years. At such time as there are twenty-four (24) Class A memberships, another special meeting shall be called to elect another director from the Class A membership for a term of two (2) years. At such time that the Class B membership terminates, another special meeting shall be called to elect five (5) new directors, one director for a term of 1 year, two directors for a term of 2 years and 2 directors for a term of 3 years. At each annual meeting thereafter the members shall elect a director or directors for the director or directors whose term is expiring. Cumulative voting shall not be allowed. Section 3. Removal. Any director may be removed from the Board, with or without cause, by a majority vote of each class of the members of the Association. In the event of death, resignation or removal of a director, his -2-