A Nonprofit Corporation
The undersigned, being of the age of 18 years of age or more, acting as incorporator for the purpose of creating a nonprofit corporation under the laws of the State of North Carolina as contained in Chapter 55A of the General Statutes of North Carolina, entitled “Nonprofit Corporate Act,” and the several amendments thereto, does hereby set forth:
The purpose of the corporation is to engage in any lawful act or activity for which a corporation may be organized under Chapter 55A of the North Carolina General Statutes, as the same may be limited by the provisions of the Declaration of Covenants, Conditions and Restrictions for ASHTON PLACE, as the same may be amended from time to time of Record in the Office of the Register of Deeds of Brunswick County, North Carolina, and as further limited by the By-Laws of ASHTON PLACE AT BRUNSWICK HOA, Inc. as the same may be amended from time to time.
The owner of each Lot or Living Unit (as defined in the Declaration) within the development known as ASHTON PLACE shall be a member of the corporation, as more fully specified in the Declaration of Covenants, Conditions and Restrictions for ASHTON PLACE and By-laws of ASHTON PLACE AT BRUNSWICK HOA, Inc. as they may be amended from time to time.
The initial registered and principal office of the corporation is 109 Fairview Road, Leland North Carolina 28451, New Hanover County, and the name of the initial registered agent at such address is Page A. Robertson.
The mailing address if different from the street address of the initial registered office is: Post Office Box 2696, Wilmington, New Hanover County, North Carolina 28402.
The initial Board of Directors of the corporation shall consist of two (2) members. They are: Page A. Robertson, 2326 Tattersalls Drive, Wilmington, North Carolina 28403, New Hanover County; and, Timothy Johnson, 2234 Tattersalls Drive, Wilmington, North Carolina 28403.
The incorporator is Jerry A. Mannen, Jr., 102 N. Fifth Avenue, Post Office Drawer 479, New Hanover County, Wilmington, North Carolina 28402.
Upon dissolution of the Corporation, other than incident to a merger or consolidation, the assets of the Corporation shall be dedicated to an appropriate public agency to be used for purposes similar to those for which this Corporation was created. In the event that such dedication is refused acceptance, such assets shall be granted, conveyed and assigned to any nonprofit corporation, association, trust or other organization to be devoted to such similar purposes as may be further provided in the Declaration of Covenants, Conditions and Restrictions for ASHTON PLACE AT BRUNSWICK.
No part of the net earnings of the corporation shall inure to the benefit of its members, directors, officers or other persons except that the corporation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the exempt purposes of the organization.