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<br />ARTICLE X <br />DISPOSITION OF ASSETS UPON DISSOLUTION <br /> <br />Upon dissolution of the Association, the assets, both real and personal of the <br />corporation, including sewer and water lines, shall be dedicated or transferred to an <br />appropriate municipality, public agency or utility to be devoted to purposes, as nearly <br />as practicable, the same as those to which they were required to be devoted by the <br />corporation. In the event that any part of such dedication or transfer be refused, such <br />assets shall be granted, conveyed and assigns to any non-profit corporation, <br />association, trust or other organization to be devoted to purposes, as nearly as <br />practicable, the same as to those to which they were required to be devoted by the <br />corporation. No such disposition of Association property shall be effective to divest or <br />diminish any right or title of any member vested in him under recorded covenants and <br />deeds applicable to the properties unless made in accordance with the provisions of <br />such covenants and deeds. <br /> <br />ARTICLE XI <br />AMENDMENTS <br /> <br />Amendment of these Articles shall require the assent of seventy-five (75%) <br />percent of the entire membership. <br /> <br />ARTICLE XII <br />INCORPORATORS <br /> <br />The following person constitutes the incorporator who are forming the <br />corporation: <br /> <br />NAME <br /> <br />ADDRESS <br /> <br />Chad D. Lemmons <br /> <br />1210 W. County Road E <br />Arden Hills, MN 55112 <br /> <br />ARTICLE XIII <br />STOCK <br /> <br />The corporation shall have no capital stock. <br />