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writing and filed with the Secretary. Every proxy shall be <br /> revocable and shall automatically cease upon conveyance by the <br /> member of his Lot.. <br /> ARTICLE IV <br /> • - BOARD OF DIRECTORS: SELECTION: TERM OF OFFICE <br /> Section 1. Number. The affairs of this Association <br /> shall be managed by a Board of five (5) directors, who need not <br /> be members of the Association. <br /> ' Section 2. Term of Office. At the first annual <br /> meeting the members shall elect five (5) directors for a term of <br /> one (1) year, and at each annual meeting thereafter the members <br /> shall elect five (5) directors for a term of one (1) year. <br /> Section 3. Removal. Any director may be removed from <br /> I ' the Board:, with or without cause, by a majority vote of the <br /> members of the Association. In the event of death, resignation <br /> or removal of a director, his successor shall be selected by the <br /> remaining members of the Board and shall serve for the unexpired <br /> term of his predecessor. <br /> Section 4. Compensation. No director shall receive <br /> compensation for any service he may render to the Association. <br /> However; any director may be reimbursed for his actual expenses <br /> incurred in the performance of his duties'.' <br /> Section 5. Action Taken Without a Meeting. The <br /> directors shall have the right to take 'any action in the absence <br /> of a meeting which they could take at a meeting by obtaining the <br /> written approval of all the directors. Any action so approved <br /> - - , shall have 'the same effect as though taken at a. meeting of the <br /> directors'. <br /> -4- <br /> • <br /> Emirmalimalsom""°""' <br />