Articles of Incorporation draft ARTICLES OF INCORPOILa, TION
OF
ASBURY PLACE HOMEOWNERS ASSOCIATION, INC.
1, the undersigned, a natural person of the age of eighteen (18) years or more. acting as the
incorporator of an association under the Texas Non-Profit Corporation Act. do hereby adopt the
following Articles of Incorporation for such association:
1. Name. The name of the association is ASBURY PLACE HOMEOWNERS
ASSOCIATION, INC. {the "Association").
2. Non-Profit Association. The Association is a non-profit association.
3. Duration. The period of the Association's duration is perpetual.
4. Purpose. The purposes for which the Association is organized are:
(a) to provide for the maintenance, management, preservation, care and
architectural control of the Property described on attached Exhibit "A":
(b) to promote the health, safety and welfare of the ox~ers of Lots within
the Property'. their tenants, guests, invitees and employees:
(c) to exercise all of the powers and privileges and to perform all of the
duties and obligations of the Association as set forth in the Declaration:
(d) to fix. levv. collect and enforce payment of all charges and
assessments as set forth ~n the Declaration. to pay all expenses in connection
therewith and all expenses incident to the conduct of the business of the Association.
including all licenses, taxes and govenunental charges levied or imposed against the
Association or the property of the Association:
~,e) to acquire (by gift. purchase or otherwise), own. hold. improve, build
upon. operate, maintain, convey, sell. lease, transfer, dedicate for public use or
otherwise dispose of real or personal property in connection with the affairs of the
Association:
(f) to borrow money, and morteaee, pledge, or hypothecate any or all of
the real or personal property o/'the Assoc~'affon as security ?or money bob'owed or
debts incurred;
(g) to dedicate, sell or transfer all or any pan of the Property to any public
agency, authority, or utility in accordance with the Declaration: and
(h) to have and to exercise any and all powers, rights and privileges which
a association organized under the Texas Non-Profit Corporation Act may now or
hereafter have or exercise.
The aforesaid statement of purposes shall be construed as a statement of both purposes and
of powers and shall be broadly construed to effectuate its intent.
5. Registered Agent and Office. The street address of the initial registered office of
the Association is . and the name
of the Association's initial registered agent at such address is
6. Directors. The number of directors constituting the initial board of directors is three
(3). The minimum and maximum number of directors is contained in the Bylaws of the Association.
The names and addresses of the persons who are to serve as the initial directors are:
NAME OF DIRECTOR(S) ADDRESS OF DIRECTOR{S)
7. Membership and Voting Rights. Ever).' Owner of a Lot shall automatically be a
Member of the Association. Memberships shall be appurtenant to and may not be separated from
ownership of any Lot which is subject to the Declaration. Ox~"nership of a Lot shall be the sole
qualification for membership in the Association. The Association ma3' (but shall not be required to)
issue certificates evidencing membership in the Association. The voting rights of the Members are
set forth in the Declaration.
8. Amendments. Amendments to these .Articles of Incorporation shall be in accordance
with the Bylaws of the Association.
9. Incorporator. The name and street address of the incorporator is Jan~es K. Murphey.
2200 One Galleria Tower. 13355 Noel Road. L.B. 75. Dallas. Texas 75240-6657.
10. Capitalized Terms. The capitalized terms used herein shall have the san~e meaning
as set forth in the Declaration of Covenants. Conditions and Restrictions for Asbury Place. Dallas.
Texas, dated ,1997, recorded or to be recorded in the Real Property Records
of Dallas County. Texas ~,the "Declaration").
EXECUTED this the day of ,1997.
James K. Murphey
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