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Government Director, and be presented to the Chairperson of the Land Bank's <br /> Board of Directors prior to the effective date of the assignment. <br /> B. Expert Directors. The Board's Local Government Directors shall appoint up to <br /> five (5) directors who have experience in fields related to the objectives and <br /> functions of the Land Bank, including real estate development, community <br /> development, economic development, finance, urban planning, affordable housing, <br /> or other related areas ("Expert Director"). Expert Directors shall serve for a term of <br /> two years and shall serve until a successor is appointed. Expert Directors shall be <br /> authorized to vote on all final Board or Land Bank actions. <br /> The Expert Directors shall consist of at least: a) one (1) individual representing <br /> Vermilion Advantage, or a successor economic development board; b) one (1) <br /> individual representing the banking community; c) one (1) individual representing <br /> real estate development; d) one (1) individual with experience in real estate <br /> transactions; and e) one (1) individual with experience in regional or city planning <br /> who is not also an employee or designated representative of a local Member. <br /> Section 5.02. Removal. A member of the Land Bank Board appointed under Section 5.01 <br /> may be removed for any reason deemed in the best in interests of the Land Bank by action of <br /> the Board of Directors. <br /> Section 5.03. Vacancies. Any vacancy among the Board caused by death, resignation, <br /> disqualification, or removal shall be filled as soon as practicable. The vacancy shall be filled <br /> for the remainder of the unexpired term in the same manner as the original appointment. <br /> Section 5.04. Election and Duties of Officers. A Chairperson, Vice-Chairperson, and <br /> Secretary/Treasurer (collectively "Officers") shall be elected from the pool of Local <br /> Government Directors, by a majority vote of the Board of Directors,to serve two year terms. <br /> A. Chairperson. The Chairperson shall be the principal executive officer of the Land <br /> Bank and shall preside at all meetings of the Board of Directors. Subject to any <br /> policies adopted by the Board of Directors, the Chairperson shall have the right to <br /> supervise and direct the management and operation of the Land Bank and to make <br /> all decisions as to policy and otherwise which may arise between meetings of the <br /> Board of Directors, and the other officers and employees of the Land Bank shall be <br /> under the Chairperson's supervision and control during such interim. The <br /> Chairperson shall give, or cause to be given, notice of all meetings of the Board of <br /> Directors. The Chairperson's duties shall include execution of all deeds, leases, <br /> and contracts of the Land Bank authorized by the Board. The Chairperson shall <br /> perform such other duties and have such other authority and powers as the Board <br /> of Directors may from time to time prescribe. <br /> B. Vice-Chairperson. The Vice-Chairperson, shall, in the absence or disability of the <br /> Chairperson, perform the duties and have the authority and exercise the powers of <br /> the Chairperson. The Vice Chairperson shall perform such other duties and have <br /> 6 <br />