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<br />ARTICLES OF INCORPORATION <br />OF <br />COLLEGE PROPERTIES. INC. <br /> <br />ARTICLE II <br />PURPOSE <br /> <br />The purposes for which the corporation is formed are: <br /> <br />.:. to provide elderly (age 55 and older) persons and handicapped <br />persons, regardless of race, color, national or ethnic origin or sex, <br />with housing facilities and services specially designed to meet their <br />physical, social, spiritual, and psychological needs, and to promote <br />their health, security, happiness, usefulness, and longer living; the <br />charges for such facilities and services to be predicated upon the <br />provision, maintenance I and operation thereof on a non-profit basis <br /> <br />.:. to be organized and operated exclusively for charitable purposes, all <br />as contemplated and permitted by and within the meaning of Section <br />501 (c) (3) of the Internal Revenue Code of 1954 <br /> <br />.:. to be irrevocably dedicated to, and operate exclusively for, non-profit <br />purposes; and no part of the income or assets shall be distributed to, <br />nor inure to the benefit of, any individual <br />