Articles of Incorporation

In compliance with requirements of the Nebraska nonprofit corporation act, the undersigned, all of whom of full age, have this day voluntarily associated themselves together for the purpose of forming a Corporation not for profit and do hereby certify:

Article 1

Name

The name of the corporation is sagewood Valley Home owners Association, hereafter call the “Association.”

Article ll

Mutual benefit corporation

The Association is a mutual benefit corporation.

Article lll

Principal office

The principal office of the association is located at Class A.

Class A members shall be all owners, with the exception of the Declarant, shall be entitle to one vote for each Lot owned. When more than one person holds interest in any lot, all such persons shall be members. The vote for such lot shall be exercised as they determined, but in no event shall more than one vote be cast with respect to any Lot.

Class B

The Class B member(s) shall be the Declarant and shall be entitled to ten (10) vote for each lot owned. The class B membership shall cease and be converted to Class A membership on the happening of either of the following events, whichever occurs earlier:

When the total votes outstanding in the Class A membership equal the total votes outstanding in the Class B membership, or
On January 1,2029 or sooner at Declarant’s discretion

Article lV

Register agent and office

Danny Bray, is hereby appointed the internal registered agent all of the association and the registered agent of this Association and the registered office of the association is located at 9647 Giles Road, La Vista, NE 68128

Article V

Purpose and powers of the association

The association does not contemplate pecuniary Game for profit to the members thereof, in the specific purpose which it is formed and to provide for the maintenance, preservation and architectural control of the residence lots ( as those terms are defined in that declaration of covenants, conditions and restrictions of Sagewood Valley in Sagewood Valley townhomes recorded with the Register of Deeds Douglas County ( as amended from time to time, the “declaration”) in common area ( defined herein ) within that certain tract of property described as follows ( each a “Lots”):

Lots 1 through 34, inclusive, and Lots 63 through 68, inclusive, sagewood Valley, a subdivision as surveyed, platted and recorded in Douglas County, Nebraska,

Subject to change find any annexations, detachments or other additions thereto made by Declarant ( as defined in the Declaration), and to promote the health, safety and welfare of the residents within the above-described, property any Common Area and any additions thereto as may hereafter be brought within the jurisdiction of this association for this purpose.

The Association shall have the powers conferred upon nonprofit corporations by the Nebraska Nonprofit Corporation act, in all powers And duties necessary and appropriate to accomplish the purposes and administer the affairs of the association. The powers and duties to be exercised by the board of directors, in upon authorization of the board of directors by the officers, shall include but shall not be limited to the following:

The acquisition ( buy gift, purchase, lease or otherwise), development, maintenance, repair, replacement, operation and administration of Common Area, and the enforcement of rules and regulations relating to the Common Area. The term “Common Area” shall mean and refer to all real property and the improvements thereon from time to time which the association owners, leases or has easement rights to, for the common use and enjoyment of the Owners.
The landscape, mowing, watering, repair and replacement of Parks in other public property And improvements on parts or public property or property, subject to lease or easement in favor of the association, with in or near the properties described herein.
The fixing, leveling, collecting, abatement and the enforcement of All charges, dues, or assessments made pursuant to the terms of Declaration.
The expenditure, commitment in payment of the association funds to accomplish the purposes of the association including but not limited to payment for the purchase of insurance covering any common area against property damage and casualty; and purchase of liability insurance coverages for the association, the Board of Directors of the Association and the Members serving thereunder.
The exercise of all of the powers same privileges and the performance of all of the duties and obligations of the association as set forth in the Declaration, as the same maybe as the same may be amended from time to time, said Declaration being incorporated hearing as if set forth at length.
The acquisition by purchase or otherwise, holding or disposition of any right, title or interest in real or personal property, wherever located, in connection with the affairs of the association.
The deposit, investment in reinvestment Association funds in bank accounts, securities, money market funds or accounts, Mutual funds, pooled funds, certificates of deposit or the like.
The employment health professionals and consultants to advise and assist the Officers and Board of Directors of the Association in the general administration and management all the association, and execution of such documents in doing And performance of their duties and responsibilities for the Association.
The doing and performing of such acts, and the execution of such instrument and documents, as may be necessary or appropriate to accomplish the purpose of the Association.

Article Vl

Membership

The Association shall have members. Every person or entity of such instruments and documents, as may be necessary or appropriate to accomplish the purposes of the Association.

Article Vll

Voting Rights

Class A.

Class A members shall be all owners, with the exception of the Declarant, shall be entitle to one (1) vote for each Lot owned. When more than one person holds interest in any lot, all such persons shall be members. The vote for such lot shall be exercised as they determined, but in no event shall more than one vote be cast with respect to any Lot.

Class B

When the total votes outstanding in the Class A membership equal the total votes outstanding in the Class B membership, or
On January 1,2029 or sooner at Declarant’s discretion

Article Vlll

Board of Directors

The affairs of the Association shall be managed by a Board not less than three (3) Directors not more than five (5), who needs not to be members of the Association or be Owners. The eternal Board shall consist of three (3) members. The number of directors maybe change by amendment of the By-Laws of the Association.

At the first annual meeting the members shall elect one director for a term of one year, one Director for a term of two years and one director for a term of three years; and it each annual meeting thereafter the members shall elect one director for a term of three years.

Article IX

Dissolution

The Association maybe dissolved with the assent given in writing and signed by not less than two thirds (2 /3) of the members. Upon dissolution of the Association, other than incident to a merge or consolidation, that assets of the Association shall be dedicated to an appropriate public agency to be used for the purposes similar to those for which this Association 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.

Article X

Duration

The Corporation shall exist perpetually.

Article XII

Incorporator

Mark B. Johnson is the internal incorporator with the address of 11440 W. Center Rd.Suite C, Omaha Nebraska 68144.

In witness whereof, the undersigned, being duly authorized undergo laws of the state of Nebraska, has executed these Articles of Incorporation of Sagewood Valley and Sagewood Valley Townhomes Owners Association this_______ day of___________________,2018

Articles of Incorporation

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