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.C. ;'Developer," "Owner" and any other terms used herein, and ~
e1 sewhere i n these Articles, are used with the deft ni ti ons~ gi~?e.n
those terms in the Declaration of Covenants, Restriction s. And
Easements far Tarpon Bay Villas.
-ARTICLE V
- BOARD OF DIRECTORS - ~ - -
A. The affairs of the Association shall be managed by the Board
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of Directors, consisting of not Less than three (3) nor more than fire ~ '
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(5) Directors.. During the period that the Developer has the. right to
appoint a ma3ority of the Board of-Directors, the-Directors need not -
be members of the' Association. and need not be residents of the State
of Florida Therea'"~er 1 i e r -
_ _ L ,.a 1 D r cto s shall be members of the Associ- ~
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anon and residents of the State of Florida. -
(i) ~So.~ong as the Developer has the right to appoint a- t
ma3ority of Directors to the Board of Directors, Class A Members shall .
have the right to elect-two (2) Directors. Election-shall be by plur-
al i ty vote and the first election shall be at -the first annual meeti rtg
of -the Association.
. (ii) The Directors appointed by the Developer, Class B .
Directors, shall serve as Directors until- such-time as the-Developer
has sold all of the undeveloped Parcels and Dwelling Units or for a
period of five (5) years after the recording-in-the Public Records
of St. Lucie County, Florida of the Declaration of Covenants, Restric-
tions And Easements whichever event occurs first.
- (iii) Directors elected by Class A Members shall serve
for a period of one (1) year wi*_h their•~term expiring at the succeeding
annual election following their election and they shall continue to
serve until such time a~ newly ejected Directors are duly qualified or
.they are removed from office with or without cause by a ma3ority of~
. the Class A Members. ~ ~ ~
- (iii} Class B Members may be removed with or without cause
by-the Developer.. In no event_can_a Board Member appointed by Devel-
oper be~removed from office except by action taken by Developer.
Any Director appointed b; Developer shall serve at the pleasure
of the Developer and shall be removed at any time by the Developer.
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