The purposes for which the corporation is formed
are as follows:
To provide an entity for the furtherance of the
interests of the owners of lots in Caliburn Estates Subdivision No. 2, also
know as Woodbury Park Subdivision ("Subdivision"), which Subdivision
was established by plat recorded in Liber 109, Pages 16 through 20, both
inclusive, Wayne County Records, as further provided in the Declaration of
Covenants, Conditions and Restrictions ("Declaration") recorded with
respect to the Subdivision, and to maintain and beautify the "Common
Areas" defined in the Declaration;
To levy and collect assessments against and from
the members of the corporation and to use the proceeds thereof for the purposes
of the corporation;
To carry insurance and to collect and allocate the
proceeds thereof;
To rebuild improvements after casualty;
To contract for and employ persons, firms, or
corporations to assist in management, operation, maintenance and administration
of its affairs;
To own, maintain and improve, and to buy, sell,
convey, assign, mortgage, or lease (as landlord or tenant) any real and
personal property, including, but not limited to, any easements, licenses,
publicly dedicated areas or any other real property, whether or not contiguous
to the Subdivision, for the purpose of providing benefit to the members of the
corporation and in furtherance of any of the purposes of the corporation;
To borrow money and issue evidences of indebtedness
in furtherance of any or all of the objects of its business; to secure the same
by mortgage, pledge or other liens on property owned by the corporation;
provided, however, that any such action shall be subject to the approval of not
less that two-thirds of the members of the corporation;
To enforce the provisions of the Declaration and of
these Articles of Incorporation and such Bylaws and rules and regulations of
this corporation as may hereinafter be adopted; and
In general, to enter into any kind of activity, to
make and perform any contract and to exercise all powers necessary, incidental
or convenient to the administration, management, maintenance, repair,
replacement and operation of any of the purposes set forth herein, with all
powers conferred upon non-profit corporations by the laws of the State of
Michigan.