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ARTICLE IV. Nonpro�t The Club shall be a nonprofit corporation, without shares of stock. ARTICLE V. Purposes and Powers of Club The purposes for which this Club is formed are as follows: (a) To promote and maintain a fishing and recreational area in the State of Colorado for harmonious use of the Members; (b) To operate and manage the Community known as the Kenosha Trout Club and to operate and manage the planned community situated in Park County, Colorado, including water rights, lakes, roads, and appurtenances thereto subject to the Amended and Restated Declaration of Covenants, Conditions and Restrictions for the Kenosha Trout Club (hereinafter "Declaration"), Bylaws, and any amendments thereto, and such rules and regulations as the Board of Directors may from time to time adopt, for the purposes of enhancing ar�d preserving the value of the Properiy for the benefit of the Members; (c) To ensure the preservation of the Kenosha Trout Club as an outstanding planned community and to provide services and benefits to the resiuents of the Community; (d) To eliminate or limit the personal liability of a Director to the Club or to the Members for monetary damages for breach of fiduciary duty as a Director, as allowed by law; (e) To perform aIl acts and services and exercise all powers and duties in accordance with the requirements for an association of owners charged with the administration of a planned community and common areas under the terms of the Act and as set forth in the Declaration; (� To act for and on behalf of the Members of the Club in all matters deemed necessary and proper for the protection, maintenance and improvement of the property and improvements owned by the Members and this Club, and to act for and on behalf of the Community, including without limitation, representing the Club before any City Council or other �overnmental bodyhaving jurisdiction over the Club or providing services to the Club, including the Water Court, the Colorado Division of Water 12esources and the Colorado State Engineers Office; (g) To purchase or otherwise acquire, and own, hold, manage, develop, maintain, renabilitate, improve and sell, lease, exchange, encurnber or otherwise dispose of and deal in real and personal property, and any interest therein, of every kind and description, whether in connection with or incident or related to the foregoing purposes and pursuant to additional terms and conditions which may be set forth in the Declaration and Bylaws and to obtain the prior approval of sixty-seven percent (67%) of the total votes in the Club prior to the purchase or sale of real property; and (h) To provide for maintenance, preservation and architectural control of the residence lots and Common Areas within the Community. (i) To do any and all permitted acts suitable or incidental to any of the foregoing purposes and objects to the fullest extent permitted by law, and do any and all acts that, in the Pa e 2 of 6 W`�'�KeooshaTmutQubNraela.Am&Ra•Final.wpd g ,,��r ze. z000