Page 10 - RestrictiveCovenants2009
P. 10

Section 6.  Quorum for Any Action Authorized under Sections 4
        and 5.
               The quorum required for any action authorized by Sections
        4 and 5 hereof shall be as follows:  At the first meeting called, as
        provided in Sections 4 and 5 hereof, the presence at the meeting
        of Members or of proxies, entitled to cast sixty percent (60%) of all
        votes of the membership shall constitute a quorum.  If the re-
        quired quorum is not forthcoming at any meeting, another meeting
        may be called, subject  to the notice requirement as set forth in
        Sections 4  and 5, and  the required quorum at  any such subse-
        quent meeting shall be one-half of the required quorum at the pre-
        ceding meeting, provided that no such subsequent meeting shall
        be held more than sixty (60) days following the preceding meet-
        ing.

        Section 7.  Date of Commencement of Annual Assessments.
               Due Dates.  The Annual assessments provided for herein
        shall commence on the first day of April, 1972.  The Assessment
        for each succeeding year shall become due and payable on the
        first day of April of each year.  No adjustments or pro-rations of
        assessments shall be made by the Association.  For the purposes
        of levying the assessment, assessments shall be considered as
        paid in advance and shall be levied against any Original Lot which
        is subject to this Declaration or Supplementary Declarations.  The
        due date of any special assessment under Section 4 hereof shall
        be fixed in the Resolution authorizing such assessment.

        Section 8.  Duties of the Board of Directors.
               The management, affairs, and policies of the Association
        shall be vested in the Board of Directors, each of whom must be a
        member of the Association in good standing.  The number of Di-
        rectors shall be not more than eighteen and not less than six.  The
        Board of Directors of the Association shall prepare a roster of the
        properties and assessments applicable thereto at least thirty (30)
        days in advance of such assessment due date.  Such assessment
        roster shall be kept in the office of the Association and shall be
        open to inspection by any owner.  Written notice of the assess-
        ment shall thereupon be sent to every owner subject thereto.  The
        Association shall upon demand at any time furnish to any owner
        liable for said assessment a certificate in writing signed by an offi-
        cer of the Association, setting forth whether said assessments has


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