Article III Meetings of Members

Section 1.

Annual Meetings. The first annual meeting of the Members of the Association may be convened only by the Declarant and may be called at any time after eighty percent (80%) of all Lots in the Subdivisions have been sold and the purchasers thereof qualified as Members of the Association, provided, however, that said meeting shall be called no later than December 15, 2000. Each subsequent regular annual meeting of the Members shall be held on the same day of the same month of each year thereafter. If the day for the annual meeting of the Members is a legal holiday, the meeting will be held at the same hour on the first day following which is not a legal holiday.

Section 2.

The officer or agent who has charge of the records of the Association shall make and certify a complete list of all Members entitled to vote at the meetings of the Association, or any adjournment thereof. The list shall be arranged in alphabetical order and show the address of each Member. The list shall also be produced and kept at the time and place of meetings of the Association during the whole time thereof and may be inspected by any Member who is present.

Section 3.

Special Meetings. Special meetings of the Members may be called at any time by the President or by the Board of Directors, or upon written request of twenty-five percent (25%) of the Members who are entitled to vote.

Section 4.

Notice of Meetings. Written notice of each meeting of the Members shall be given by, or at the direction of, the Secretary or person authorized to call the meeting, by mailing a copy of such notice, postage prepaid, at least ten (10) days before such meeting to each Member entitled to vote at such meeting, addressed to the Member's address last appearing on the records of the Association or supplied by such Member to the Association for the purpose of notice. Such notice shall specify the place, day and hour of the meeting, and in the case of a special meeting, the purpose of the meeting.

Section 5.

Quorum. The presence at the meeting of twenty percent (20%) of the Members entitled to vote, or their proxies, shall constitute a quorum for any action except as otherwise provided in the Articles of Incorporation, the Declarations, or these By-Laws. If, however, such quorum shall not be present or represented at any meeting, the Members entitled to vote at such meeting shall have power to adjourn the meeting from time to time, without notice other than announcement at the meeting, until a quorum as aforesaid shall be present or be represented.

Section 6.

Proxies. At all meetings of Members, each Member may vote in person or by proxy. All proxies shall be in writing and filed with the Secretary. Every proxy shall be revocable and shall automatically cease upon conveyance by the Member of his Lot.