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c. <br />■•.Tr <br />writing and filed with the Secretary. No proxy shall extend beyond <br />a period of eleven (11) months from the date of its execution and <br />every proxy shall automatically cease upon sale by the Member of his <br />Lot. <br />ARTICLE IV <br />Board of Directors <br />Section 1. The management and affairs of this Association <br />shall be managed b^ a Board of not less thcui three nor more th£ui <br />nine Directors, provided that the number of Directors shall always <br />be an odd number and shall always be evenly divisible by the number <br />three (3). Directors shall be Members of the Association. The num­ <br />ber of Directors may be changed by amendment of the By-Laws of the <br />corporation. At the first meeting of the Members, the Members shall <br />elect one-third (1/3) of the Directors for a term of one (1) year. <br />one-third (1/3) for a term of two (2) years and one-third (1/3) for <br />a term of three (3) years; and at each annual meeting thereafter the <br />Members shall elect one-third (1/3) of the Board of Directors for a <br />term of three (3) years. <br />Section 2. Removal. Any Director may be removed from the <br />Board, with or without cause, by a majority vote of the Members of <br />the Association present and voting at a meeting of the Association <br />and any Director who ceases to own a Lot shall automatically cease <br />to be a Director. Vacancies in the Board of Directors, as the re­ <br />sult of death, resignation, sale of such Director's Lot or removal. <br />shall be filled by the majority of the remaining directors, ^my such <br />-4- <br />I