Articles of Incorporation
Transcription
Articles of Incorporation
ARIZONA OF STATN f\ECEIVED ut0 r ? t0ll HOA!,rlCO Office of the CORPORATION COMMISSION The Executive Director of the Arizona Corporation Commission does hereby ceftiry that the attached copv of the followine document: ARTICLES OF INCORPORATION, OI/I51I997 consisting of t0 pages, is a true and complete copy of the original of said document on file with this office for: KINGSWOOD ESTATES UNIT III OWNERS ASSOCIATION, INC. ACC file number: -0797223-7 IN WITNESS WHEREOF, I have hereunto s€t my hand and affixed the official seal ofthe Arizona Corporation Commission on this date: December 15,2014. A . ,Jerich ) AtlTtrNA c{)Rl{}taTll)N 0(rilMllisl(lN coRt{)ltATloNs Dlvlsl()N Ptc{oit Adltart: l3m T\&son Wc.rt WJshngll)n Atit or ESm?-2929 A&hcts: au) W{tt ConSilll Tuc*tn, Arironr E5?(ll'l3a? Phoroir. cFRTIFtCATE Ot: tuscL()sul{t A.R.S. $10.202.1) ki,,,,,-rol !:t(, i'' t /,, t iIt' i)u,.,., s J- ---------'-.--- '::-: clt[strlEl,:89P8l41!-!9lilAllll-lu llxA("r c(,lll{JRA ANSWER'('' rf 'lAI\lli '1, r"' , ' l' '^, TIIE UNDERSIGNED CERTIFY THAT: ot hoLlitS ovct l0t' of A. No !.li{rlB lewin8 cirhet hy clc4uotu ot tlltolnuDcol ls om'4n' ditt{rl3' utL{s' inc'rFrrrldtt rnd tEBo0! incr)nuolti'8 .,'urrngln: lhc inarq't prictrry, or n,.obc'hil pn bcncficirl Uc ilsu.d u ouuno,liog c.uroron rharcior t0* of any o0rcr F1. l-J wilhit lhc t'vdt' l. Hlvc bccn coovicanl ofi frkrny iovolvilg 0 trallrcdon itr sc*uritia3. aolJutDcr fnut or |nrill|tlrt in |Dy rul,c or feh nljuridi'thtr y.rr li€riod imD.di.tcly ptcc.rli!8 oc crc.utiod of |bi! ccttif'oE' tlEfl by frkc p'gluEr' ol du'ill of r|& 2. Hrvc bcc! @nvict d or r rcr,,ny, urc csscnrirl ckltcolt o( tict ooorilbd of lirut, mitrep.r'rcnbtion. prcccdog 0|c crcrution of llir c.nilsc lavcr-ycrr nilbin u. Fiiod.inrnqlirbly o, Eooopoly io uy 3t2r" o, rot"or SoriJ-rion icY'lt'tqr Ftlrl d.crcc or F,o:r;r ordcr of my tuto or fcd.,.l coun c'l.Ed.rNithi! .1,c 3. - Hrvc boco or.rc lubj*t !o u ioj;dotr, julS'Fnt, onllri judlllcot' or tLcrr itljuD'0on' !'nrtercul rrhttio rucb irt ai.r"ry pt*"atti rirc crccution of rlris Ccnitrcrrc (r) tovotvJ uc viotiri'n of frrud or rcSirrntio! Fevirb!' ol tbo-tcturilic! Ls! of thf t jutitdi'totr: or (bi lnvolt.d ibc violtlioo of lhc cotlsttdler tnrtd lr't of tltt jutidiclioo: ot (c) lnvotval rlc violatioD of Uc Mtittust or rulminl of ttrdc hvs of out juritdi'tion' 3 rtx'vc, uEJro!h!i!8 in lrcru A.l throuh B. For .!y Frloo o{t-rsotrs u/ho uvc L;oi.* iut1", o or. or rorc of rlp rrrcmcou n isfqr.&!-ldlfl-!illrf,Isl: t, ruoc, prfur oroc(t) lod !lir5c!' if ut Fuu d D C' 2. Fult bitlh otd - t R 1qq? 3. hr.crl! booc .{tdrcar. " t"'' 4. Ptrot d.kca*s (!or lD.srcdut Prca'dirrg 7 v*lillll 5. D.lc .Id locrlioo of bid. 6 g'id S'dtrity ounb"' ? Tl|c latur uxl &scripdon of clcb conviction or judi'Ll !'U{'n' d.b.Dd loc|don, $c coun rnd tt{blic t8cncy involv'd rtd fik ot Gtttsc [u$bcr of c'tr' ot conuulhl otcr l0 |. or inc{tarnn@r of 0& cltl;nlrtioD ictac{t in any slth cirJscily or h'Ll [rifsoo scwing es Eo ofliccr. diroc&ra. uurrcc *hi'h hrt tE.o c'tJnrltioo in a'y int'rcst n|cmhcnbip (;dtr pmpttlrty' bclctKirl ot of lbc btusl .rl(t ouuLlld|lg co,omon slrcs' or 20'16 ot '!y rtttc ot jufi"t judicirly by roy dilrolvcd or :drnitrislntivcty or oirl ,Jrur""r, ,"".ii"ot ip t oJ is cbancr rcvolci. c. H$ &y *- ", " "-_ tFYoURANswERToTHEAsovEQUEsnoNls"YEs".YoUMUSTATr^cHTHeFoLLow|NGlNFoRMATloNroRFAcl| CORPORATION --f. 3 s|eE(t' i! whtb &P coltorrtiooi - i lf.-. -,f .Ot*s of thc corPontio!. (l) w'! bcotlEnt'd (l') Hri g-rl|ticLd ltlriDclr' pcrson of ci@h lnd addNli rlialcs) 2. FuU !:rDc (i!ct ci!8 4 D'tar of @rJDrrlr opcnlion : invdlvcd- D- Th. fi$:l 5 ye.u cDd &lop{cd by oc co{rondon Dele tod c$r nu'Dtrr of B"ttnrplcy or yocation/adtoinialrativc dilsolutioo. t,l|c ot o.Ll.-_!--j]:]3j_' uodcrF!'tti.tofbw.thcuDdcrripcrlncorpora',od3yofrlc.(s).1..|'"qyll|:9lP"cct.min.'lthi.rccnir|c.tc.inc|udinsrnyrtlrch'nco|.r.rtd!o StCtiA I',(iRtts) MuSTBE I)ATF.D WtrltlN TIllRrY(1t}' DAYSOF u. b.$ orrly(olll) rHE l)t:Ltv9R? lrrow,:dgc aort uclicr rt rs'uuc. c<,rrccr rrxt ./ n{u: cooptc. Tl{L / * .'1/r,,6",- ,//t*.i n*rn^u, 4r,'ri'.', I'i' '/i)'r/ TIILE 2.rrr. r/oo t- D^re j2!fl-nrLE onz I l'.'i'l goMEsT|ccoRI'RATIoNsALLtN(:oRPoR{foRsMUSTslcNTttElN|nALcER'llF.IcATEoFl)|sc|ostjR'j|f'rd)instrlyda!s.any F:'glnh:c.tn|c\r'ld|||c!,.nu.o,,,..,.,o..."i|rrilnu'otrr,|lln!.'rhll.tin|'!lw(Ilo(()'o|cs ltcocf|c[l.or|ncnlhchh:PlIt1.n.srIfulc.{'rFr;rLionan.lthcr.cRlo\Aas|l;t|ocludcili,luli'd!sc|osuI9.lhcc{'4tlrJtlomu rrgEa.l bJ rt lcar! ('nc dul)_ itrCl"n,rcd 'rfticcr of drc c{trFx}rrlt'n ron'E|c|jc.oRPoRAT|oNs-MUSTBtjst6NEDEYATLtilsToNEDULYAttl-}toRlzE't)oFnceRoFTHEcoRruRATloN CFr (tr4: - BuriDerr C\,rF'ritiorlr R!v: :196 ARTICLES OF INCORPOSATTON .ir:r l" | 2.,,, ,, /n--'/*c'' tu t2 OF ,. KII-GSWOOD ESTATES IJNIT III OWNERS ASS(rclATlON' INC' (),tr.t z L 3 z $ seq". Arizona compliance wirh rhe requircments of $ -10'.1001' .RevisqJ have this dalc volunulrlly Sla$tes, as amen<led, the undersigned, all of whom arc of full age' snd do hercby certify: ario"iateo th.msetves for the pur$se of forming a non-proftt corporation' In ARTICLE I NAME Unit The name of the corporation is Kingswood EsHes lll Owners As$osialion' Inc. oaff ARTICLE II DETINE!-IEBUI Capitalizedlermsuse<]intheseArticleswi0routdefrnirionshallhavethemea|ngs for and Rcstrictions tbrcu.t ,arms in rtre-- oJaration of covenants, corditions of Yavapai County, wirh rhe Crunty Recorder flf recorOed,,Declararion") ;I#SWOOI' ESTATES UNITjzi.rjr which, by this teference, is madc a specifiexl p"g. (rhe Arizona, ar Docker 3329, pJof rtrese Anicles as though tully set fonh herein' ARTICLE III PRINCIPALOFFICE be..locatert at 5070 N' il&h Street' The principal office of tle Association shall otnttt may bc established at such nlaces as the Board ,f250, Phoenix, Arizona. SyllS, l-uiort'"t of Directors suy determioe ftom time to dme' ARTICLE IV s!A&198r^aEN:I Amhon'/ M. Burd nrizona whosc slreet addlcss is jlal- E, !,etvl lrltltr,-Urtctux' nas treen a krna lirtc resident of th{, Statc of AriT.ona ibr ntttrc llnn pasr, is hereby appointed and desigtnted the initiill statutory agent for the 850281ilTfr0 rtrfliSllfii-f151 co , rporalion. ARTICLE V PURPOSE OF THE ASSOCIATION The object and purpose for which this Association is organizcd' consislcot.wilh s€cdon 501(c) (4) of the the requirencns oi $.mn sis or, ir rhe Associadon so €lecrs. tni.r*i i.u.nu. Code of 1986, providc as amended, and thc regulations p€rtaining thereto. is to propcfly olned by maidenance. and care of the Common Area and other and in order lo of' jutisdiction' funherarrce In itr. nrro.i.rion or propeny placed urder its urxler thc laws incorPorate{ b€ Association objecr and purPose, rlic T,l1l 'Sutc U. foteioing to tlme' linle "."ornpfirn of Arizona' as lhey may bc amcrded f(om of tre ioi,i. n*g".tnr. ARTICLE VI 'fhe Eeneral nalure and character of r.he business ro be ttalNacted by lhe Association shall hc as follows: al and mainiain thc Common Atea and all other Propcrly benefit of the Owncrs of l'tlls within the rcal improvemenr ro be used in common by anrl for tlrc additions l,',i,*.r" a"."ri6f in the Declaration ant known as Kingswood Btates Unit lll and any of rhc acr by Associarion wi&in rhe juridicdon (a) To own' repair iljilr#;ft;;;;;;;;shr of Associiltioni '" prop€rty anl improvemen6 as mainrain' rcpair and rcPlacc all larxlscaping upon may bc conveyi to dre Corporation and 10 .,,.h nf^nFftv: to Dav all @res and assessments, if any, which may proprly bc lcvicrj aS,ainsl payrnent of assessn:cns and Lhe individuat l.orsio secure 're and to collect' foreclose or due from ,i'. O*n"rr rhereof ro rhe Association ".J"t t' conrpromise, release' sarisry and discharge dcmarxls' and lo do all ofter "U,"iiiig.ii"* (b) To accepr the Common Area and such other ffi fift;;;"il;;;", iilt i,ft.*ii. .said of said licnsi lo tate any adion neccssrry discharge and nraintenance filing, ;;;;*y toenforcetheProjectDocuments:todoalryandalllawfulthingsarrdacrswhichtheAssociarkn!, ,i'o" to rim"' shall i ir-s discretion' d9"t t9 F in lhe bcst inieresLs of $e ;;;;;;;;;;o in connection therewith anl in connection with any Menrbers, and ro pay all cos$ and expcnses ;;e hc 1dtislhlc' and all thc purpu.ses of the Associationi to do any arxl all lawful things rvhich lllity proper, aurhorized or permi(trd t0 he douc by the Associillion urxlor and by virtuc of un1 proF:rly' thc conditi6u, covontut, rclfricfitrn. &'s0tvll(iotl. chargc or &\Scssmcnl aftccting Ulc bc cithcr which nlly [r,r. u, uu1' portion titcrcof' and to do and pcrfoml 'tny and all acts pcitcc, or lhe. n...io.y for or incidental to the excrcisc of any thr: foregoing powets. lilr lo do:!ny und :lll things irealth. comfort, safcty or general rxclfare of thc Mcnrhcts: ord funher. lh"' laws of thc Stalr urxlcr corlnrations nonprofit pcrmirtr.r! [. ynrvers and and exercise all righri by it and lo tlkc of Arizona, includirrg thc lx)wer to motrgoSe or encumhcr any propcny owncrl D$ulnenls: Nny action necessary lo enforcc the Projcct .l carry out contracts of any kind ncccs-\at) to' or in pttrposc ofthe corporatton: connecliott rvith, or incidenral lo, the accomplishment oflhe (c) 'fo enter into, pcrform an<l k} and loan money. and givu' Ete and hold sccufity and collalcral. pledgcs antl mortgaSss' debcnNres' executc, make and issue and latie and retcilc honrts-' noles' (d) To borro\ othcfcvidcncgsol.indcbtqlncssitfiJsccurit).()t.anyxtlJir||kinds.wllJ|sftver.ittlurthcrulrccrr| (2i 3) of each slass of irs business. but only u irh the consenr of two-lhirds ,r,. *v "i"iiiri "uiecrs of membershiP; (e) To nlaxc and contr:rcts of all kinds anrl descriptions with lhird prrlic$' lirnls (:orporation; husillesr' lo transac! ;rny To do anrt perform any and all acts ard lhings arxl in lhc carrying oul convenicllt incid€ntallo.or not inconsisten; \xirh law. which may be neccssary' all acls limitation' withou-i of anv of lhc husrncss o, pu,pn,tt of the Associrtion' includillg' Documents: Projecr rhe uftter out,grtion, un,i dulies of thc Associarion (0 ;#il ;;;;,rir (g) To (h) sue and be sued: and To do such other things as arc irutholized in the Declaratitrn ftrr the such things as ure reasonably ncccssary or Prop€r Association or ihe Board to perform. as rvcll as lo levy, collect and t'nforce ioi, o. in.lo.n."f to, rhe exeicisc rhereof. including without limitarion a.ioir*"no, Assessment Liens and to exP€rd funrJs as providc<t in the Declatalion' ARTICLE VII MEIilBERSHIP corfrration and no Itlentitv of Members' The Association shall b€ a nonprofil be paid to ils mcnrb€rs'.. pecuniary Prorlts stock sh:rll be issued and no ?-Mdends or -shall An owner of a Lot shall of Lots i;;;ilttlttp in the Associatioo st'att uc timiieo ro owners of the Associalion and shall Memhr a be rhereof' ;;..;ti."liy, upon becoming lhe Owner as his ownership ceases for any rclson' at ienuin a lr{ember of the Association until such time *iii.t' time t is ^..bership in the Association shall automatically cease' Transfcr of Membership. Membership in the Associaliol shirll ltc appurtcnunt ttt each Lor and a-mfr6ilfriF-ii rtrE nGociarion shall not bc transfcrrLd, plcdged or alicnutttl in any way, excep! upon tlre salc of a Lot and tlrcn only lo such lbrchuscr. or by itltcslatc ru..rrti*, fesUrnentary dispOsition, forcclosurc of rnortgage or detd of ttust of rctord, foreclosure of an Assesimeni Lien, or othcr lcgal process, Any attcmpt to makc il prtthibitcd ransfer shall be void snd shall not be reflectcd upon the books and rccords of thc Assrrciution. ARTICLE VIII VOTING zuCII'TS ClassesofMembers.TheAssociationshallluvetwoclas$csofvoting rnembership: as the ClassA.ClassAMcntbersshallbeallOwners'exceptforthef)cclarantsoktng to one Declaran]E-aClass B Member, of Lots Each Class A Membcr shall be enlitlrtd vote for each Lol orvned. enrirled ro tt ClassB.TheclassBMembclshallbetheDec|arant.TheDeclaranlshal|hc if thc each *ote which rhe Declarant woulrl br entitled ro ruceivc r.ffiio,..-io, lo pursue a'ilass A Member. For lhe purposes of rhis AniCle only and in order owncr lhe to be be deemcd Pro.j.",. the class B Member stralt at rfly time [. crr.i"p*l", Mertrbctship B the numLer of Lors owned by Class A Members. The Class ;i. ,00 1,'1,. less"i,h. when the total.votes outstarxling in thc Class ;;";i;;;;rt; .onvend to Class A Membciship e Memtxrstrip equal the votes outstanding in the Class B Membership' iji,fdru"i *.r. Vote' No chauge in the ownership of.a l'or shall li: effective for voling and is provitluj rhe Boartl is glven acrual wrincn notice of such change ouroores y,,-.i;*-.i;unless-iid-until vores ;,|-|*.i*f. n. vote foi each such lor mus! be cast as a unit. ud fractional Right to shallnotbeallowed.Iltheevent|hataLotisownedbymorethanonepersonorenliryardsuch vote or voies shall be cast' lhcy are uMble to agree among tlemselves as to how their Ovners ,n"ff f"r" casB a vole rcpriscntiog it aight to u-ot" on theinattcr in queslion. lf-any Menrbcr lhar he. was aclinS wirh purposcs all for it wiil rhereafrer bc conclusively presumett ther€to is madc at objeclion and consenl of all orher Owneri of rlrc same L,ot unless A Member for a Class by a vore is casr. In thc event more lhan one vote is cast yotes void. be deemcd shall none of dre saitl votts shall be countcd and all said ti.ir i.*i" ti, ;;l|i5;;,,y ;;;t,* ;; il;i;;,, ln &e evcnt any Lot is owned by a corporarion' :o'po':tion:,!::'l'lil"J :::li:::d::1'1"*, the ti.i of auluiiiti'n d h'. h!31,'-fi:Id.,'l CorDorate Ownelship. partnership o, ffi;Ti i" *ii,i"g at L"il;l ;;;ff :* i*inf: :,1* Y:: mdruerstrip. and in tir ab:effi :f :::h-1:ic:1i' L" ptoia*i or. genr:ral Parmcr of such corporation' pannership or ass&iation shall have lhe power to vote fte mcmbership' ;;;;iffi;; vio i*rii"r*'i--"0.' *13jll'::: prvmem of Suspension of Voting Riahts. In thc cvcnt any Owncr shall trc in uncat: itt tltt: any ,f.scs.sntents or othcr tnl0unts iluc under ir0y of thc provisions ol tltc lt,riutt bocum.nrs foi a pcrirxl of fiftcen (15) d0ys, suid Orvncr's ri8ht to vole rs u Nlctnhcr ol tltc Association shall bc suspcnded and shall rctnnin suspcndtd until 0ll paymc[ls, includhtg atcrunl itlterest and attornsys' fces, arc brought cutrent. and tor a pctiod nol t0 cxcecd 60 days lirr uny cr infractions of tltc Project Docuntcnts' o ARTICLE IX BOARp OF DIRECTOR! 'l'he affairs of the Associatio[ shall be conducted by a board of dircctors (the ,'Board") and such officers and commit(ces as thc directols rnay elect and appoint So l(!ng as ,ir.i. it o Class B nrernbcrship in thc Associal.ion, the directors shall appointtd b.v the. Afier thc tcrninalion ot' Architccrural Comnritrce and neeil not be Members of lhe Associlition. 6i;.. B mcmbcrship, all directors must be Mcmbcrs of lhe Association. Thc Board nray of director must atways bc an odd. iocrease the nunrbcr of dirscrors on the Board but the number (9) directors' The numbcr of numt.r ana shall nor b€ less th3n three (3) nor exceed nine (3). The names and addrcsses of rhe inirial Jir,rcrors lonstituring dre inirial Board shall be three directors of the Associalion arc as follows: lr ;. Nalne Mailine Address Antrony Ir{. Burd 5070 N. 40tlt Slret:l, Suite 250 Phoenix, Arizona 85018 Karen C. Burd 50?0 N. 4Oh Street. Suitc 250 Plroenix, Arizolu 85018 Dclben H. I anoer 75 W. Birseline Rd. Oilbert. Arizona 85233 of the Members and until $eir The initial difectors shall serve until the ltrst annual meeting rhe rrrst annual mcetiog of the wirh hive bcen el:cre<t an<l qualihed. commencing (l) year' ofone t,f.InU"tr, :rll directors shall bc elected for a term ;;;;; or Any vacincy occurring on the Board by reason of death' resigna(ion' replacernenl such directors' rhe remairring disuualification of any direcror shall t fillcd by prior dLectors tetm' ,.lirecror ro scrve thc tlncxPirld portion of the vote of thc The Board shall adopt Bylaws for he Association' by a rnajority called- therefor' The Jnwer to alter' mcmbers of the Board. at a regular oi spccial rneeting ^mend that the Board ' witiout a votc of thc except Members to thl ;;;.F"i ;" Bylarvs is re.c-.,I Nlembers. may aDlc.rid the Bylarvs in order to conforttr the Bylaws to thc rcquirelncnts or guidelines of ihc l--edertl Narional Mongagc Association. thc FL'dBral llotnc kran Mrrrtgagc torporation, or any fcrlcral, state or locai govcrnmentll sgclcy wftosc approval of the ltojcct. loltg, a: ore itat or the projcct Documents is requircd by law or requestcd by tlrc Dctlarant. So the &,ord llylaws by ot the $ere is a Class d membership iu thc Association, uny unlendncnt must be approved by tto Vetcrans Administration. ARTICLE X AEryE8I The following prsons shall be lhe initial ofricers of the Associalion and shall hold the Associalion atl(l until their tlte positions opposite rheir names unril the firsl annual mecting of successors have been elected and qttalified: hcsidcnt Vice President Anthony M. Burd Deltren H. TaffEr IGren Burd Secreary/Treasurcr ARTICLE XI DISSOLUTION given in wrilinS ard sigttcd by Thc Association m3y be dissolved with the asscn! votes of each class of MembershiP' ut'on nor iess rhan nvo-thirds (z/3) of rhe authorizcd or consolidation' any excess Jir.otution of rhe Association. olher $an incid€nt to a merg€r by rhe Associ;ition shall bc retundcd to &e M€mbcrs bascxt on eash rnembcrs' ;;;;;,,;; held pro-rata ihare of paid assesrnents. ARTICLE XII AMENDMENTS at lersl seYenty-lire These Anicles may be amended by Members reprcsenting oi'thc Assrriationl MBmbers casl by cntitled lo be oalscDr (?5%) of Ue total auoorized voles rhesc Aniclcs in amend rnay Mcmbers, ffi;;;-rr,u,,r,.s"-0, ,"ithour a vore of rhe ilfij, or guidclines ol rhc Fcdcral iri., i"'._,r"* drese Articles ro rhc fequirerncnrs tlre Fcxlerel l{omc lrlan Mongage M;;g;;;;i.tion, the Fcdcrrl Housinglridminisrfdgo' any fcdoat' sBle or ltral governmentrl agency Nuional .^tu'ari^n rhe Vclerans aomrnistration ,r,. irar or lhe hoja:r Documers.is ra;uired by ta* or rcqcstcd ivilii"'iiprl;""i Associarion' ut) atrErdnrni So lung as there is a Class B mernbcrship in $e ti ii* fii.rar"n,."r,i,"'pi"i..i. of the Bylaws by the Boatd must Housing Admirisration. bB approved by the Vetcrans Admiristralion or thc Fcdcral ..lRTICLE Xlll DgB,\rlglN TIle corporation shrll exisr pe4teuitlly. ARTICLE XIV RESTRICTIONS Noa withshnding anylhing h€rcin contained to dle contrary, no pan of thc acririties of the Association shall be devolcd to carrying on propaganda or otherwise alEmFing ro influence tegislation ard thc Associatioo shall mate no gift, donation or contrib{rtion to any insrirution or organiz:tion engaged ht such activities' No pan of lhe net edniDg of thc A\sociarion shall inure to rhe b€nefit of any Memhcr or irxlividual (olher than hy ac4uiring, coostructing, or providing management, maintenance, and care of the Association's pruperty anl other than be a rebate of exc€ss Assess erl$). ARTICLE XV NONPROFIT This Associadon shall be a nonprofit cotporation. No stock shall be issued by ihis Association and no dividends or pecuniary profits shall be paid to its Members or direclors or to any privare individuals. All of the eamings of this Association shall be used to funher the purpose of this Associatiolt as hereinabove set fonh. ARTICLE XVI PRIVATE PROPERTY The i.ncorporators, mentbers, directors, and offrc€rs of this Association shall not bc irdividualty liable for the Associaion's debts or olhel liabilities and the privatc property of such inclrporators, members, directors ud officers shall bc exempl from all corporarc debts and obligarions. However, norhing herein contained shall limit or restrict any liability, obligadon or responsibility of the memb€rs hereof to cach other or to this Associalion as sct forth in thc Dcclaration, as amerded or supplemented &om lime to titnc. Similarly' nuhing in thcse Aniclcs shall limit or reslrict any liability, obligation or responsibility of directors and officcrs lo lhis Association. ARTICLE XVII INDEMNIFICATION This Association shall indemniry any and all of its present or former direct()rs, judEnlents officers or employees againsr any expenses incurrcd by thcm, including legal fccs, or ol his within the. while.acting person -scoPc such or penalties ,inder"d or levied against any person act. lbil did nol gocrl such fai0r ftat aulhority. proviile<t that the Board shall detelnline in ill intellt or cr,nrinal with fraudulcnt ro act. ;r iefuse ro act willfully or with gross ncgligence or regard to tle maners involvcd in the action or onlission. ARTICLE XVIII EI!94!-YE48 The fiscal year of the Association shall bc the calendar year and shall bcgin on the fusrdayofJanuaryofeveryycar'ercePtthatthefirsttisca|1'earoftheAssociationsha||trgin 'The commencenrnt date of thc lisdl year hercin established shall of incorporation. dic:tatc. be strurject to change by the Board should corFrrate prrticc subsequortly ;tl;1.4" ARTICLE XIX coNEIISI TheseArticlesshallnotbeamcrxtedorotherwisechangedorinterpreted.forany lb the extent that thesc Articles shall be rhcse A icles shall be considered Dcclararion. ;;;;.r1 ;;' in"on.irr"nt with provisions or'rhe superseded by the DeclaFlionreason, so as ro be inconsistent rvith the Declaration. ARTICLE XX INCORPORA'TORS The narnes and acldresses of thc incorporators of the Association are: Narne Address Anthony M. Burd 5070 N. 40th Sreet. Suite 250 Kuen C- Burd 50?0 N. 40th Sueet, Suite L50 Phcnix, Arizona 85018 Phocnix. Arizona E5018 ARNCLEXXI FHA/vAnPPROVAL As tong os there is a Class B ntmbersltip. thc folhlwing 4lion$ $ill lrtluirc lhe prior approval of the Ferleral Housing Administrrtion or thc Vaeros Administrali(,n: Nnncxing of additional propenies, mcrgers Nrd consollfutions. rmngrgiog of Comnnn Arca. &{ketion of Common Area. urdenaking self-manrgement of the kojcct or thc Asscielion and dissolution and amendment of these Anicles of lncotPor:nion' uatcarrris. f4L.uuor .:VdnY / .reer. -zt6^/ Amhony M. Bdrd