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(12) To approve leases, subleases or other transfers of a Unit other than sales or <br /> mortgage of a Unit and to charge a fee for such approval. <br /> (13) To levy fines against the Owners, occupants, licensee or invitees, in <br /> accordance with the Condominium Act, for failure to abide by any provision of the <br /> Declaration of Condominium, these By-Laws or rules of the Association. <br /> The Board of Directors may authorize, through resolution, that any or all of the above <br /> referenced powers may be exercised by any one or all of the Officers, as specifically set forth in <br /> the resolution. <br /> K. Election of Directors shall be conducted in the following manner: <br /> (1) The Board of Directors shall be members of the current City Commission <br /> and shall hold office so long as the Director is a member of the City Commission. <br /> (2) Vacancies in the Board of Directors may be filled pursuant to the City <br /> Charter. <br /> 5. OFFICERS <br /> A. The principal Officers of the Association shall be a President, a Secretary and a <br /> Treasurer, and as many Vice Presidents, Assistant Secretaries and Assistant Treasurers as the <br /> Board of Directors may deem necessary. <br /> B. The President shall be the Chief Officer of the Association. He shall preside at all <br /> meetings of the Association. He shall have all of the general powers and duties which are usually <br /> vested in the office of president of an association and as provided, through resolution, by the <br /> Board of Directors. <br /> C. The Vice President shall take the place of the President and perform his duties <br /> whenever the President shall be absent or unable to act. If neither the President nor the Vice <br /> President is able to act, the Board of Directors shall appoint someone on an interim basis. The <br /> Vice President shall also perform such other duties as shall from time to time be imposed upon <br /> by the Board of Directors. <br /> D. The Secretary shall keep the minutes of all proceedings of the Directors and the <br /> Members. He shall attend to the giving and service of all notices of the Members and Directors, <br /> and such other notices required by law. He shall have custody of the seal of the Association and <br /> affix the same to instruments requiring a seal when duly signed. He shall keep records of the <br /> Association, its administration and salaries. <br /> E. The Treasurer shall have custody of all property of the Association, including <br /> funds, securities, and evidence of indebtedness. He shall keep the books of the Association in <br /> accordance with good accounting practices. <br /> F. The Officers shall serve without compensation, provided however, this restriction <br /> shall not prohibit the compensation of any Officer for any duties performed hereunder, and in the <br /> regular course of business as an employee of the City of Sunny Isles Beach, Florida. <br /> 9 <br />