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6.2 Election. The Board will elect the Association's officers at the Board's regular meetings and shall hold office at the Board's pleasure. 6.3 Removal. Upon the affirmative vote of a majority of the Board, any officer may be removed, with or without cause, and a successor elected, at any regular Board meeting, or at any special Board meeting called for that purpose. 6.4 President. The President is the Association's chief executive officer and will preside at all meetings of the Board and the Members. The President has all customary powers and duties of a corporate president including, without limitation, the duty to supervise all other officers and to execute all contracts and similar obligations on behalf of the Association. The President will have such other duties prescribed by the Board. 6.5 Secretary. The Secretary is responsible for recording the minutes of all meetings of the Board and the Members. The Secretary is responsible for keeping the books and records of the Association, and for giving all notices required by the Governing (Documents unless directed otherwise by the Board. The Board may delegate the Secretary's administrative functions to a managing agent, but such delegation will not relieve the Secretary of the ultimate responsibility for the Secretary's duties. 6.6 Treasurer. The Treasurer is responsible for all financial assets of the Association and may be covered by a bond or insurance in such sum and with such companies as required by the Board. The Treasurer will maintain the Association's financial books, assessment rolls and accounts. The Treasurer will keep the Association's books in accordance with customary and accepted accounting practices and will submit them to the Board for its examination upon request. The Treasurer will deposit all Association moneys and other monetary assets in the name of the Association in depositories designated by the Board, will disburse Association funds as instructed by the Board, and will perform other duties of the Treasurer. The Board may delegate the Treasurer's administrative functions to a managing agent, but such j delegation will not relieve the Treasurer of the ultimate responsibility for the Treasurer's duties. 6.7 Compensation. Except as authorized by the Members, officers of the Association will not receive compensation for their services as officers. An officer may, upon approval by the Board, be reasonably compensated for goods and services provided to the Association in the officer's individual capacity. Officers may be reimbursed for out-of pocket expenses incurred in the performance of their duties. PSVN w x MO&OW aQ If 8 F:0ATA%1"3 00I%yhwzZvr0 p.o