President The President shall preside at all meetings of the Master Board; shall see that orders
and resolutions of the Master Board are carried out; shall sign all leases, mortgages, deeds and
other written instruments and shall co-sign all checks and promissory notes.

Vice President The Vice President shall generally assist the President and shall have such
powers and perform such duties and services as shall from time to time be prescribed or
delegated to him by the President or the Master Board.

Secretary The Secretary shall record the votes and keep the minutes of all meetings and
proceedings of the Master Board and of the Members; serve notice of meetings of the Master
Board and of the Members; keep appropriate current records showing the Members of the Master
Association together with their addresses, and shall perform such other duties as required by the
Master Board.

Treasurer The Treasurer shall receive and deposit in appropriate bank accounts all monies of the
Master Association and shall disburse such funds as directed by resolution of the Master Board;
shall co-sign all checks and promissory notes of the Master Association; keep proper books of
account in an appropriate form such that they could be audited by a public accountant whenever
ordered by the Master Board or the membership; and shall prepare an annual budget and a
statement of income and expenditures to be presented to the membership at its regular meeting,
and deliver a copy of each to the Members. In the event, no Treasurer is then serving, the
President shall be empowered with the Treasurer’s duties.