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ARTICLES OF INCORPORATION
OF
SILVER SPRINGS MASTER HOMEOWNERS ASSOCIATION

We, MICHAEL S. BARNES, ROBERT V. HAEDT, and LYNN STEVENS, the undersigned adult citizens of the United States, being duly authorized and directed to act as incorporators under the Utah Non-Profit Corporation and Cooperative Associations Act, hereby adopt the following Articles of Incorporation for said Silver Springs Master Homeowners Association.

ARTICLE I
CORPORATE NAME

The name by which the corporation shall be known is Silver Springs Master Homeowners Association (hereinafter “Association”).

ARTICLE II
DURATION OF CORPORATION

The Corporation shall have perpetual existence unless dissolved or terminated according to law.

 

ARTICLE III
CORPORATE PURPOSES

The general purposes and objectives for which this corporation is organized are to provide an organization which can: (1) hold title to, lease, and acquire easements or other rights of use with regard to specific parcels of real property which are to be used as common recreational areas for all homeowners associations which are members of the Silver Springs Master Homeowners Association; (2) manage those common recreational areas for the benefit of its members; (3) provide a forum for discussion of economic, development, and other areas of interest common to its members; and (4) exercise such authority as is lawful and appropriate for a non-profit association of homeowners for the common good and benefit of its members and all owners of property within the Silver Springs Subdivision at Snyderville, Summit County, Utah.

In addition, the corporation is authorized and directed to generate sufficient funds for the maintenance of the common properties by levying fees and assessments against the homeowners and guaranteeing the payment of such by liens, actions at law and such other legal or equitable remedies against the individual properties or the owners thereof.

ARTICLE IV
MEMBERSHIP

Every person or entity who is a record owner of a fee or undivided fee interest, or is a contract purchaser for such interest, in any lot or condominium unit located within any of the following homeowners associations, to wit: Northshore Silver Springs 1-G Subdivision Homeowners Association; Silver Springs Homeowners Association; Silver Springs Townhouse Condominium (Silver Meadows Phase) Homeowners Association; Willow Bend West Homeowners Association; Meadow Springs Homeowners Association; Quail Meadows Homeowners Association; Meadow Wild Homeowners Association; Silver Springs Townhouse (Willow Bend East) Homeowners Association (hereinafter collectively referred to as the “Member Associations”) shall be a member of the association. Any homeowner association or similar entity representing the interests of owners or property within the Silver Springs Subdivision which is subsequently formed shall be entitled to membership in the Association, upon consent to be bound by the authority of the Association, its Bylaws, and duly enacted rules and regulations.

ARTICLE V
SHARES

The Corporation shall be authorized to issue that number of shares which corresponds with the number of Member Associations and, for purposes of entitling the existing Member Associations, hereby, authorizes the issuance of eight shares, to be supplemented in number upon the addition of any subsequent homeowner entity to the Association.

ARTICLE VI
BOARD OF TRUSTEES

The Board of Trustees shall consist of that number of members as the number of Member Associations. The initial Board of Trustees shall consist of eight members. Standing members of the Board of Trustees shall be the President of each of the Member Associations, or such President’s designee. Until all such individuals agree to appointment to the Board, the Board shall consist of three Trustees. The names and addresses of persons who are to serve as Trustees until the first annual meeting of the members of the corporation, or until their successors be elected and qualify, are as follows:

• Michael S. Barnes, President
  Northshore Silver Springs 1-G Subdivision
  Homeowners Association
  P.O. Box 1980
  Park City, Utah 84060-1980
• Robert V. Haedt, President
  Silver Springs Homeowners Association
  P.O. Box 3323
  Park City, Utah 64060-3323
• Lynn Stevens, President
  Willow Ben West Homeowners Association
  4675 North Silver Springs Road
  Park City, Utah, 84060

ARTICLE VII
PRINCIPAL OFFICE

The address of the corporation’s principal office is: 4575 Silver Springs Road, Snyderville, Park City, Utah 84060.
The name of the corporation’s registered agent is: Scott C. Welling, Attorney-at-law. 312 Main Street, P.O. Box 712, Park City, Utah, 84060-0712

ARTICLE VIII
INCORPORATORS

The names and addresses of the incorporators are as follows:

• Michael S. Barnes, President
  Northshore Silver Springs 1-G Subdivision
  Homeowners Association
  P.O. Box 1980
  Park City, Utah 84060-1980
• Robert V. Haedt, President
  Silver Springs Homeowners Association
  5009 North Silver Springs Road
  P.O. Box 3323
  Park City, Utah 64060-3323
• Lynn Stevens, President
  Willow Ben West Homeowners Association
  4675 North Silver Springs Road
  Park City, Utah, 84060

ARTICLE IX
COMPLIANCE WITH THE INTERNAL REVENUE CODE

No part of the net earnings of the corporation shall inure [to take effect; to result] to the benefit of, or be distributable, to its members, trustees, officers, or other private 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 purposes set forth in Article III hereof. No substantial part of the activities of the corporation shall be the carrying on of propaganda, or otherwise attempting to influence legislation, and the corporation shall not participate in, or intervene in (including the publishing and distribution of statements) any political campaign on behalf of any candidate for public office. Notwithstanding any other provision of these Articles, the corporation shall not carry on any other activities not permitted to be carried on (a) by a corporation exempt from federal income tax under Section 501(c) (3) of the Internal Revenue Code of 1954 (or the corresponding provision of any future United States Internal Revenue law) or (b) by a corporation, contributions to which are deductible under Section 170 (c) (2) of the Internal Revenue Code of 1954 (or the corresponding provision of any future United States Internal Revenue law).

ARTICLE X
DISSOLUTION

Upon the dissolution of the corporation, the Board of Trustees, after paying or making provision for the payment of all liabilities of the corporation, shall dispose of all the assets of the corporation in accordance with the laws of the State of Utah, and the appropriate provisions of the Internal Revenue Code of 1954, as amended.

ARTICLE XI
AMENDMENT TO ARTICLES

The corporation reserves the right to amend, alter, change, or repeal any provision contained in these Articles of Incorporation in the manner now or hereafter prescribed by law, or its Bylaws, and all rights and powers conferred herein on members, trustees, and officers are subject to this reserved power.

 

 

DATED this _____ day of January 1990.

___________________________________
MICHAEL S. BARNES

___________________________________
ROBERT V. HAEDT, JR.

___________________________________
LYNN STEVENS

APPOINTMENT AS REGISTERED
AGENT NOTED AND ACCEPTED

__________________________
SCOTT C. WELLING, Esq.

Notarized: IN WITNESS WHEREOF: on the 12 day of January 1990.