9.4. Article 4: Powers and Purposes

This Association does not contemplate pecuniary gain or profit, direct or indirect, to the Members thereof, and the specific purposes for which it is formed are to provide for and assure the maintenance, preservation, and architectural control of the Living Units and Community Areas as described in the Declaration of Covenants, Conditions, Easements, and Restrictions for the Association recorded or to be recorded among the Land Records of Worcester County, Maryland (the “Declaration”), and to promote the health, safety, and welfare of the Owners of Living Units within the Community. For this purpose, the Association shall have the power and authority to:

(a) exercise all of the powers and privileges and perform all of the duties and obligations of the Association as set forth in the Declaration, as the Declaration may be amended from time to time;

(b) fix, levy, collect and enforce payment by any lawful means, of all charges or assessments pursuant to the terms of the Declaration; to pay all expenses in connection therewith, including all office expenses, licenses, taxes, or governmental charges levied or imposed against the Community Property and all other expenses incident to the conduct of the business of the Association;

(c ) except as may be expressly limited by the Governing Documents of the Association, 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;

(d) borrow money, including, without limitation, entering into notes or other instruments of indebtedness from time to time which obligates the Association to pay the Declarant (or the Declarant’s affiliates) for costs incurred by the Declarant (or the Declarant’s affiliates) in connection with the (i) development or operation of the Community Areas, or (ii) funding of operating deficits of the Association;

(e) mortgage, pledge, deed in trust, or hypothecate any or all of the real or personal property owned by the Association as security for money borrowed or debts incurred by the Association;

(f) dedicate, sell or transfer all or any part of the Community Property to any public agency, authority, or utility for such purposes and subject to such conditions as may be agreed to by the Members of the Association;

(g) participate in mergers and consolidations with other nonprofit corporations organized for the same purposes or annex within the jurisdiction of the Association property other than the Annexable Property, provided that any such merger, consolidation, or annexation shall have the consent of a majority of each class of Members unless the Declaration or Bylaws provide
otherwise; and

(h) have and exercise any and all powers, rights, and privileges which a nonstock corporation organized under the laws of the State of Maryland may now or hereafter have or exercise.