SECTION 5.01. ELECTION, TERM AND QUALIFICATIONS.
   (A)    The person elected as Mayor at the election held in November, 1975, or any successor thereto, under the general statutory plan of government for villages shall be the Mayor under this Charter until January 1, 1980, and he shall exercise all powers, duties and functions of the Mayor under this Charter. At the regular municipal election to be held in November, 1979 and every four (4) years thereafter, the Mayor shall be elected from the municipality at large for a term of four (4) years commencing on the first day of January following the election.
   (B)    The Mayor shall have been an elector of the municipality for at least eighteen (18) months prior to taking office and during the term of office. Except as provided under this Charter or the general laws of Ohio the Mayor shall not hold any other public office with any other unit of government; except office in a political party, be a notary public, or serve in the national guard or the armed forces of the United States. Except as authorized under this Charter or the general laws of Ohio, the Mayor shall not hold any other office or employment with the municipality during the term for which he was elected, and shall not hold any compensated office or employment with the municipality until one (l) year after the expiration of the term for which he was elected or appointed.