Ballard Golf & Country Club

TO ESTABLISH AND OPERATE A GOLF AND COUNTRY CLUB FOR THE PLEASURE AND RECREATION OF ITS MEMBERS, WITH FACILITIES APPROPRIATE AND SUITABLE FOR GENERAL SOCIAL ACTIVITIES, GOLF, AND ANY FORMS OF RECREATION WHICH ITS BOARD OF DIRECTORS MAY CONSIDER ADVISABLE. IN FURTHERANCE OF SUCH PURPOSES, THE CORPORATION MAY ACQUIRE, IMPROVE, EQUIP, FURNISH, MAINTAIN AND HOLD TITLE TO SUCH REAL AND PERSONAL PROPERTY AS MAY BE NECESSARY OR CONVENIENT. NO PART OF THE NET EARNINGS OF THE CORPORATION SHALL INURE TO THE BENEFIT OF ANY MEMBER, DIRECTOR OR OFFICER OF THE CORPORATION, ANY PRIVATE INDIVIDUAL EXCEPT THAT REASONABLE COMPENSATION MAY BE PAID FOR THE SERVICES RENDERED TO OR FOR THE CORPORATION.