River Run Homeowners Association

ARTICLE IV

THE DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS OF RIVER RUN

ARTICLE IV

Association Membership, Voting Rights, Board of Directors,and Professional Management

Section 4.1 Membership.

a) Every Owner of a Lot which is subject to assessment shall be a member of the Association.

b) Membership in the Association shall be appurtenant to and may not be separated from ownership of any Lot.

Section 4.2 Membership and Voting Rights.

a). Members shall be all owners of lots.

b). The Class B membership shall cease and be converted to Class A membership on December 31, 2000.

c). When more than one person holds an interest in any Lot, all such persons shall be members.

d). The vote for such Lot shall be exercised as the members holding an interest in such Lot determine among themselves,but in no event shall more than one vote be cast with respect to any Lot.

e). Members shall be entitled to one (1) vote for each Lot owned.

Section 4.3 Board of Directors.

a) The Owners shall elect Board of Directors of the Association as prescribed by the Association's Articles and By-Laws.

b) The Board of Directors shall manage the affairs of the Association.

Section 4.4 Professional Management.

a) No contract or agreement for professional management of the Association between Declarant and the Association shall be for a term in excess of three years.

b) Any such agreement or contract shall provide for termination by either party with or without cause and without payment of any termination fee upon written notice of ninety (90) days or less.

NOTE:

a) Section 4.3 is for Class A membership only.

b) Section 4.4 is for Class B membership only.

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