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41 <br /> EXHIBIT B <br /> ARTICLES OF INCORPORATION <br /> OF <br /> HOMEOWNERS ASSOCIATION,INC., <br /> a North Carolina Nonprofit Corporation <br /> The undersigned does hereby make and acknowledge these Articles of Incorporation for the <br /> purpose of forming a nonprofit corporation under and by virtue of the North Carolina Nonprofit <br /> Corporation Act,N.C.G.S. §55A-1-01 et sec. <br /> ARTICLE I <br /> NAME <br /> The name of the corporation ism Homeowners Association,Inc. <br /> ARTICLE II <br /> INITIAL REGISTERED OFFICE AND AGENT <br /> The street and mailing address and county of the initial registered office of the corporation <br /> are 504 Meadowlands Drive, Hillsborough, Orange County, North Carolina 27278. The name of <br /> the initial registered agent of the corporation at that address is James W. Parker,Jr. <br /> ARTICLE III <br /> INCORPORATOR <br /> The name and address of the incorporator are James W. Parker, Jr., 504 Meadowlands <br /> Drive,Hillsborough,North Carolina 27278. <br /> ARTICLE IV <br /> MEMBERSHIP <br /> Each Person who holds record title to any Lot in JN�W a residential planned <br /> community located in Orange County, North Carolina as provided in that certain Declaration of <br /> Covenants, Conditions, Restrictions and Easements for�recorded or to be recorded in <br /> the office of the Register of Deeds of Orange County,North Carolina,as amended,modified and/or <br /> supplemented from time to time(the "Declaration") and as shown on the recorded plat(s) of survey <br /> referenced therein, as same may be amended, supplemented and/or modified from time to time, <br /> shall be and remain a member ("Member") of the corporation for so long as Person shall hold <br /> record title to such Lot. No lienholder,judgment creditor, trustee or other person or entity holding <br /> legal or beneficial title to,or any other interest in,any Lot merely as security for an obligation,or a <br /> leasehold interest only in any Lot, shall be qualified for or entitled to membership in the <br /> corporation. All defined terms in the Declaration shall have the same meanings in these Articles of <br /> Incorporation as are ascribed to them in the Declaration unless otherwise expressly defined herein. <br /> 31 <br />