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102 <br /> ARTICLE IX <br /> BYLAWS <br /> The initial Bylaws of the corporation shall be adopted by the corporation's initial Board of Directors. <br /> The Members shall have the power to amend or repeal the initial Bylaws or to adopt new Bylaws. The Bylaws <br /> may contain any provisions for the regulation and management of the corporation which are not inconsistent <br /> with the Declaration, these Articles of Incorporation, the North Carolina Planned Community Act and/or the <br /> North Carolina Nonprofit Corporation Act,as applicable. <br /> ARTICLE XI <br /> TAX EXEMPT STATUS <br /> The corporation shall have all the powers granted non-profit corporations under the laws of the <br /> State of North Carolina. Notwithstanding any other provision of these Articles of Incorporation, the <br /> corporation hereby elects tax-exempt status under Section 528 of the Internal Revenue Code of 1986. The <br /> corporation shall not carry on any activities prohibited by a corporation electing tax-exempt status under <br /> Section 528, or any corresponding sections or provisions of any future United States Internal Revenue law <br /> or of any analogous law of the State of North Carolina.No part of the net earnings of the corporation shall <br /> inure to the benefit of its Members, directors, officers or other persons except that the corporation shall be <br /> authorized and empowered to pay reasonable compensation for services rendered and to make payments <br /> and distributions in furtherance of the exempt purposes of the corporation. <br /> ARTICLE XI <br /> AMENDMENT <br /> These Articles of Incorporation may be amended at any annual or special meeting of the Members <br /> duly held in accordance with the provisions of the Bylaws of the corporation with respect to which notice of <br /> such purpose has been given,and at which a quorum is present,by the affirmative vote of Members entitled and <br /> qualified to vote present at such meeting in person or by proxy who represent(a)not less than two-third(2/3)of <br /> all votes cast at such meeting,or(b)not less than a majority of the total number of votes allocated to all of the <br /> Lots as provided in the Declaration,whichever is less. These Articles of Incorporation may also be amended, <br /> without a meeting,by written consent of Members entitled and qualified to vote who represent the total number <br /> of votes allocated to all Lots as provided in the Declaration. In the event there are no Members entitled and <br /> qualified to vote,these Articles of Incorporation may be amended as provided by the applicable provisions of <br /> the North Carolina Planned Community Act and/or the North Carolina Nonprofit Corporation Act. <br /> IN WITNESS WHEREOF,I have hereunto set my hand and seal this the day of ,2024. <br /> James W.Parker,Jr.,Incorporator <br /> 27 <br />