1. Name. The name of the Corporation shall be Shaker Farms Condominiums Homeowners Association, Inc.

2. Purpose. The purpose for which the Corporation is organized is to assume the established duties and responsibilities of the Council of Co-Owners for administration of the Shaker Farms Condominiums as provided under the Master Deed and Declaration of Horizontal Property Regime for Shaker Farms recorded in Deed Book 4652, Page323, in the Office of the Clerk of Jefferson County, Kentucky, and all amendments subsequently recorded thereto.

The Corporation shall have the additional power, either directly or indirectly, either alone or in conjunction or cooperation with others, do any and all lawful acts and things and to engage in any and all lawful activities which may be necessary, useful, suitable, desirable, or proper for the furtherance, accomplishment, fostering, or attainment of the purpose for which the Corporation is organized. Notwithstanding anything herein to the contrary, the Corporation shall exercise only such powers as are in furtherance of the exempt purposes of organizations set forth in Section 501(c) of the Internal Revenue Code of 1986 and the Regulations thereunder as the same now exist or as they may be hereafter amended from time to time.

3. Nonprofit purpose. The Corporation is formed exclusively for purposes for which a non-profit corporation may be formed under Chapter 273 of the Kentucky Revised Statutes and not for pecuniary profit or financial gain. No part of the assets, income, or profit of the Corporation shall be distributable to, or inure to the benefit of, its members, directors, or officers. The Corporation shall not operate any listing service for its members, or take steps which will serve to promote the private interest of any member, or engage in any activities which would constitute a regular business of a kind ordinarily carried on for profit.

4. Distribution on dissolution or liquidation. In the event of the liquidation or dissolution of the Corporation, whether voluntary or involuntary, no member shall be entitled to any distribution or division of its remaining property or its proceeds. The balance of all money and other property which the Corporation receives from any source, after the payment of all debts and obligations of the Corporation, shall be used or distributed, subject to the order of a Court of competent jurisdiction as provided by law, exclusively for purposes within those set forth in the preceding paragraph of these Articles and within the intendment of Section 501(c) of the Internal Revenue Code of 1986 and the Regulations thereunder as the same not exist or as they may be hereafter amended from time to time.

5. Income and distribution. No part of the income of the Corporation shall inure to the benefit of any member, trustee, director, officer of the Corporation, or any private individual (except that reasonable compensation may be paid for services rendered to or for the Corporation affecting one or more of its purposes), and no member, trustee, officer of the Corporation or any private individual shall be entitled to share in the distribution of any Corporate assets on dissolution of the Corporation.

6. Prohibited activities. No part of the activities of the Corporation shall be carrying on propaganda, or otherwise attempting to influence legislation, or participating in, or intervening in (including the publication or distribution of statements), any political campaign on behalf of any candidate for public office.

7. Principle office. The mailing address of the Corporation's principle office is as follows:

8. Registered office. The street address of the Corporation's initial registered office and the name of its initial registered agent at that address, who by signing consents to and accepts such appointment is as follows:

9. Number and names of directors. The number of directors constituting the initial board of directors is four (4); and the names and mailing addresses of the persons who are to serve as the initial directors are as follows:

10. Names and addresses of incorporator. The name and address of incorporator of the Corporation is as follows: