ANTARES HOMEOWNERS ASSOCIATION
BYLAWS
PAGE 9

ARTICLE IV (cont.)

refuse; minimum standards of property maintenance consistent with the Declaration and the procedures of the Architectural Committee; and any other matter within the Association's jurisdiction as provided in the Declaration; provided, however, that such Rules and Regulations are enforceable only to the extent they are consistent with the Restrictions.

(l) The power and duty to keep, or cause to be kept, a complete record of all Association acts and corporate affairs and to present a statement thereof to the Members at the annual meeting of the Members and at any other time that such statement is requested by at least ten percent (10%) of the Members who are entitled to vote.

(m) The power but not the duty to appoint a Membership Committee composed of at least one ( l) Director and at least one (1) Member at large. The Membership Committee would be responsible for contacting all purchasers of Condominiums as soon as any transfer of title to a Condominium is discovered. The Membership Committee would further attempt to establish initial contact with all Members who are delinquent in the payment of any assessments or other charges due the Association.

(n) The power but not the duty to sell property of the Association; provided, however, that the prior vote or written approval of the Members representing at least a majority of the Association's voting power must be obtained to sell during any Fiscal Year any property of the Association having an aggregate fair market value greater than five percent (5%) of the Association's budgeted gross expenses for that Fiscal Year.

4.4.  Management Agent.
The Board may engage a professional Manager for the Association at a compensation established by the Board to perform such duties and services as the Board authorizes, including, but not limited to, the duties listed in Section 4.3. The maximum term of any such contract ("Management Contract") is one (1) year, unless a longer term is approved either by vote or written assent of a majority of the Association's voting power, in which case the maximum term of the Management Contract is three (3) years. The maximum term of any contract providing for Declarant's services to the Association or the Project is also three (3) years. Each such contract for Declarant's services and each Management Contract must provide for its termination by either party thereto without payment of a termination fee upon no more than ninety (90) days' written notice to the other party.

4.5.  Election and Term of Office.

(a) At the first annual meeting of the Members, and thereafter at each annual meeting of the Members coinciding with the expiration of a Director's term

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