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<br />ARTICLE VII <br />BOARD OF DIRECTORS <br /> <br />The management and affairs of this Association shall be managed by a Board <br />of three (3) Directors. The number of Directors may be changed by amendment of <br />the By-Laws of the Association. The names and addresses of the first Board of <br />Directors are as follows: <br /> <br />NAME <br /> <br />ADDRESS <br /> <br />Raymond L. Lemmons <br /> <br />P.O. Box 416 <br />Forest Lake, MN 55025 <br /> <br />1210 W. County Road E <br />Arden Hills, MN 55112 <br /> <br />1210 W. County Road E <br />Arden Hills, MN 55112 <br /> <br />John H. Mathern <br /> <br />Chad D. Lemmons <br /> <br />Within 180 days after the first transfer of a unit from Declarant to an owner <br />other than Declarant, a special organizational meeting shall be held to elect a full slate <br />of three (3) Directors and the foregoing Directors are to serve as sole interim Directors <br />until such first election at and after which time a full Board of three (3) shall be <br />elected. At such first meeting of the members they shall elect one of the Directors <br />for a term of one year, one for a term of two years and one for a term of three years; <br />and at each annual meeting thereafter the members shall elect the necessary number <br />of Directors for a term of three years to fill out the Board. <br /> <br />ARTICLE VIII <br />DURATION <br /> <br />The duration of the Association shall be perpetual. <br /> <br />ARTICLE IX <br />DISSOLUTION <br /> <br />The Association may be dissolved only with the assent given in writing and <br />signed by the members entitled to cast two-thirds (213) of the votes of the <br />membership. Written notice of a proposal to dissolve, setting forth the reasons thereof <br />and the disposition to be made of the assets (which shall be consistent with Article X <br />hereof) shall be mailed to every member at least 90 days in advance of any action <br />taken. <br />