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72 <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 50% of the <br /> members; <br /> (e) Supervise all officers, agents and employees, if any, of the Association, <br /> and see that their duties are properly performed; <br /> (f) Create an 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 /> (g) 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; <br /> (h) 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 /> (i) Cause the establishment and appointment of members to a committee known <br /> as the Drakeford Facility Operations Committee, as outlined in the Memorandum <br /> of Understanding (the "MOU"). The Drakeford Facility Operations Facility <br /> Committee will be responsible for daily operations of the facility and for <br /> developing and implementing the Drakeford Policies and Procedures Manual. <br /> The policies and procedures in the manual will be approved by the Executive <br /> Board. <br /> 0) If the Executive Board cannot agree by majority vote on one or more of its <br /> obligations the Board shall utilize a dispute resolution mechanism to resolve the <br /> situation. By way of example and not limitation, if the Executive Board cannot <br /> by majority vote agree on a necessary capital reserve budget, the Executive <br /> Board can agree upon a third-party mediator to facilitate a solution or hire a <br /> third-party arbitrator, with binding or non-binding arbitration, engage an expert <br /> on the matter in conflict and agree to resolve the problem with the expert <br /> opinion, or any other agreed upon dispute resolution. If necessary, the <br /> provisions for Dispute Resolution set forth in Part II, Article 1, Section 11 of the <br /> 30 <br />