Real Property Transfer Agreement - 701 N. Harrison St. – Near Northwest Neighborhood Inc.

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i ed exclusively for cnaritaoie, Thee --corporation is org�n � - - ' religious, educational., and's�cientific purposes, iricludi.nq', for---_ such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the Internal Revenue Code of 1954 or the corresponding provision of any future United States Internal. Revenue Law. No part of the net earnings of the Corporation shall inure to the benefit of, or be distributable to its members, trustees, officers, or other private persons, except that the Corporation shall be authorized and empowered to pay reasonable compensation fvd oa;:vices rendered and to make payments and distributions in furtherance of the purposes set forth in this article. No sub- stantial part of the activities of the Corporation shall be the carrying on of propaganda, or otherwise attempting to influence legislation, other than as permitted under the 1976`Tax Reform Act or the corresponding provision of any future United States Internal Revenue Law, and the Corporation shall not participate - --- --�----- - �_-----ems--- --•-- --,_,.. - --- ��----�`._�1-_ _� r.AA, Wj. J LA 4csl VGAAc A.LA % LAA%..LU%AJ LL� Vli C:i aA�v i,4 is AL L/i+� VA. %446,0 .J6*f i.i Vl. v. statements) any political campaign on behalf -of any candidate for public office. Notwithstanding any other provisions of these articles, the Corporation shall not carry on any other activities not permitted to be carried on (a) by a corporation exempt from Federal income tax under section 501(c) (3) of the Internal Revenue Code of 1954 or the corresponding provision of any'future United States Internal Revenue Law or (b) by a corporation, contributions to which are deductible under section 170 (c) (x) of the Internal Revenue Code of 1954 or the corresponding provision of any future United States Internal Revenue Law. In the event of dissolution of the corporation, the board of directors shall, after payment Of all liabilities of the Corporation, dispose of the assets of the Corporation, exclusively for the purposes of the Corporation in such manx+er, or }o such oxganizati.ons organized and operating exclusively for charitable, educational, religious or i.c ptzT r,ose:- shall ] at thr+ 4ine qualify as an exempt orgzn.i- r Marc ;s; i"Lc,.L' f:�s, uzider SeCtI.c _:.J. (G) (3) of the Internal Reventi ::oche cf: 1954 or the corresponding prevision of any future United Staten Internal Revenue Law and which is organized for purposes substantially similar to that of the Corporation. �t .