The affairs of our neighborhood shall be managed by a Board of Directors, composed of five (5)  persons, who must be members of this Corporation and shall be elected by the majority vote of the members at each Annual Meeting. All officers, principals, or members of an entity that owns property within Harmony Bay shall be deemed to be members of Corporation so as to qualify as a Director herein. The Board of Director's service term shall be two (2) years and shall extend until the next annual meeting of the members or until his successor is duly elected.  If a Board of Director member seeks to remain on the board they must be re-elected by members of the corporation.  The principal officers of the Corporation shall be a President, Vice President, Secretary, Treasurer, and a member at large all of whom shall be elected by the Board of Directors for the position they serve.