Real Property Transfer Agreement - 324 Cottage Grove - SB Mutual Housing Co-Op

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ARTICLE VI Section 6.1 Registered Office and Registered Agent. The street address of the Cooperative's registered office is 724 West Washington, South Bend, Indiana 46601, and the name of the Cooperative's registered agent at that office is Anne Mannix, Section 6.2 Principal Office. The post office address of the principal office of the Cooperative is 724 West Washington, South Bend, Indiana 46601. ARTICLE VII Members Section 7.1. Classes. The Cooperative shall have one (1) class of members whose voting and other rights and interests are equal. Section 7.2. Voting Rights of Members. Each member in good standing shall be entitled to one (1) vote, exercisable in person or by proxy, on each matter submitted to the membership for a vote at each meeting of the membership. ARTICLE VIII Board of Directors Section 8.1 Number and Term of Office. Upon incorporation, the initial Board of Directors shall consist of five (5) directors. Thereafter, the number of directors shall be as specified in or fixed in accordance with the Bylaws of the Cooperative; provided, however, that the minimum number of directors shall be three (3). The term of office of a director shall be as specified in the Bylaws; provided, however, that the term of an elected director shall not exceed five (5) years. Directors may be elected for successive terms. Terms of office of directors may be staggered as specified in the Bylaws. Section 8.2 Qualifications. Each director shall have such qualifications as may be specified from time to time in the Bylaws of the Cooperative or as required by law. Section 8.3 Initial Board of Directors. Directors of the Cooperative are: {20151193.DOC} The names and addresses of the initial Board of -3-