HomeMy WebLinkAbout0916 of f ice oi . the elected Director ceceiving the higl~cst plucslity of votes shal! .be
established at two (2) years. ln addition, the Class C Member shall select one (1)
Director to serve for a term of two (2) years and one (1) Di~ector to serve for a
term of one yeaf. Thereaiter, as many Directors ~all be E!°~Pd and appointed
as the case may be, as thece are regular temns of office oi Directors expiring at
such time, and the term of the Derector so elected or appointed at each annual
election shall be. for two (2) years expiring at the second annual election folbwing
their election, and, thereafter, until their successors are duly elected and qualified,
or unti! removed f~om of f ice with or without cause by the af f irma*ive vote of a ~
majarity of the members which elected or appointed them. So long as the
Developer owns at least one (1) Lot, Unit or Home ir~ The Sands Development, any
Diredor appc~inted by the Developer shall serve at the pleas~e of the Developer
and may not be removed except by action of the Developer.~ The Developer, the
Class C Member, may rem~ve its appointed Director or ~ Directors from off ice and
appoint a successor Director at any time at its pleasure.
B. The Sands Development is intended to consist of f ive (5) separate
stages or portions of development, each independent of the others. The purpose of
this Association is to provide overall community associaiion services for each of
said stages or portions of The Sar~ds Development as said portions or stages are
completed. As each such portion or stage is completed, the Owner of said portion
or stage, whether it be an individual, corporation, or condominium association, shall ,
have the right to appoint or elect, as the case may be, a member af the Boacd of
;
~
i Directors of The Sands Community Association, Inc. As each sucti portion or stage
~
€ appoint or elects its Director, the Developer shall have the right to appoint orie (1)
~
~ additional Director so that at all times the Developer shall have a majority of the
t
[
` Board of Directors. The Developer, in no event, shall have Iess than a majority of '
d
!
~ the Board of Directars so long as it owns at least one (1) Lot, Unit or Home in The
~ Sands Development. ~
f
5
F
~ .
~ _6-
~
g
r
~
~ ao~K 3S7 yAcE 916
~
~
~ - ' a ~.~~,.r~`3~~: ""r'r '~e-i.~~~.~~ _'a`~.
.
. . . . . . ~
~ ~
_
,S
I f i
t~
t~u