Section 1. Appointment. In the discretion of the Owner named in the Covenants referred to in the Articles of Incorporation, it may appoint an Owner's Advisory Committee the members of which shall be selected from the members of the corporation. The Owner's Advisory Committee shall continue only until the expiration of the initial term of the directors and the election of their successors.

 

Section 2. Duties and Status. During the existence of the Owner's Advisory Committee, it shall act as an advisor to the directors of the corporation to assist the directors in determining policies for the management of the affairs and property of the corporation and to assist in assembling a slate of nominees for election of directors of the corporation upon the expiration of the initial term of the directors.