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<br />office, and method of the filling of vacancies in the Board of <br />Directors shall be as provided in the By-Laws of the Association. <br /> <br />ARTICLE IX <br /> <br />No member. director or officer of the Association shall <br />have any personal liability for any obligation of the Association. <br /> <br />ARTICLE X <br /> <br />The Association shall have no capital stock. <br /> <br />ARTICLE XI <br /> <br />Upon dissolution of the Association. after payment of all <br />the debts and obligations of the Association. all remaining <br />corporate assets shall be distributed to each Member of the <br />Association in proportion to that Mernber1s ownership of the Co~on <br />Elements as provided ~n Exhibit C to the Declaration described in <br />Article II above. <br /> <br />IN tESTIMONY WHEREOF, we have hereunto set our hands this <br />____ day of ~, 1985. <br /> <br />STATE OF MI~NESOTA ) <br />) ss. <br />COUNTY OF ) <br /> <br />On tlus day of , 1985. before me a <br />~otary PublJ.c w1.t.hin -and for sa1.d County personally appeared <br />, and <br />, to <br />me-known~e the incorporators described in t~foregornq <br />instrument anc) who executed the foregoing J.llstrument and <br />acknowledged that they executed the same as their free act and <br />deed. <br /> <br />Notary Public. County~ Minn. <br />My Comm1.ssion Expires: <br /> <br />-4- <br /> <br />M6R <br />