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28 <br /> operation of the Association; and <br /> (g) Have and to exercise any and all powers, rights and privileges which a <br /> unincorporated non-profit association of the State of North Carolina by law may <br /> now or hereafter have or exercise. <br /> Section 2: It shall be the duty of the Executive Board to: <br /> (a) Cause the Common Elements to be maintained, repaired, and replaced as <br /> necessary, and to assess the Unit Owners to recover the cost of the upkeep of the <br /> Common Elements. <br /> (b) Serve as the architectural committee, or the right to delegate that <br /> responsibility; <br /> (c) Keep a complete record of all its acts and corporate affairs and present a <br /> statement thereof to the members at the annual meeting, or at any special <br /> meeting when such statement is requested in a writing signed by 51% of the <br /> members; <br /> (d) Supervise all officers, agents and employees, if any, of the Association, <br /> and see that their duties are properly performed; <br /> (e) Create a y annual assessment budget and the mechanism for the Town and <br /> County to promptly collect and pay for all Association obligations to maintain <br /> the Common Elements. <br /> (f) Procure and maintain, at all times, adequate replacement coverage hazard <br /> insurance on the property owned by the Association and all property for which <br /> the Association has the duty to maintain, and sufficient liability insurance to <br /> adequately protect the Association as provided in G.S. § 47C-3-113; and <br /> (g) Cause all officers or employees, including officers and employees of <br /> professional management, having fiscal responsibilities to be bonded, as it may <br /> deem appropriate. <br /> ARTICLE V <br /> OFFICERS AND THEIR DUTIES <br /> Section 1: The officers of this Association shall be a president, vice-president, and <br /> secretary/treasurer. The officers shall be appointed by the Executive Board from <br /> 26 <br />