ARTICLE IV: BOARD OF DIRECTORS: SELECTION: TERM OF OFFICE

Section 1. Number. The affairs of this Association shall be managed by a Board of nine (9) (Reduced to 5 in section 2 by amendment 12/11/2002) directors, who need not be members of the Association.

Section 2. Term of Office. At the 2002 annual meeting of the Riverpark Estates Homeowner's Association, the members shall elect five (5) directors. The newly elected Board of Directors shall allocate the following terms. Two (2) directors for a term of three (3) years, two (2) directors for a term of two (2) years, and one (1) director for a term of one (1) year. At each annual meeting thereafter, the members shall elect the necessary number of directors, dependent upon director vacancies, for a term of three (3) years.

Section 2. Term of Office. At the first annual meeting the members shall elect three directors for a term of one year, three directors for a term of two years and three directors for a term of three years; and at each annual meeting thereafter the members shall elect three directors for a term of three years.
(Original section 2 text. Replaced by amendment 12/11/2002)

Section 3. Removal. Any director may be removed from the Board, with or without cause, by a majority vote of the members of the Association. In the event of death, resignation or removal of a director, his successor shall be selected by the remaining members of the Board and shall serve for the unexpired term of his predecessor.

Section 4. Compensation. No directors shall receive compensation for any service he may render to the Association. However, any director may be reimbursed for his actual expenses incurred in of his duties.

Section 5. Action Taken Without A Meeting. The directors shall have the right to take any action in the absence of a meeting which they could take at a meeting by obtaining the written the directors. Any action so approved shall have the same effect as though taken at a meeting of the directors.