1 NAME AND PURPOSE

1.1. NAME.

The name of this corporation shall be Emerald Bay Homeowners Association (hereinafter termed "HOA"), and it is a non-profit corporation incorporated under the laws of the State of Texas. 

1.2. PURPOSE OF HOA. The HOA exists for the following purposes:

(i) To own, construct, improve, repair, maintain, manage, and care for the:

             a.  Streets and Roadways;

             b.  Bridges;

             c.  Guard Station;

             d.  Security Gates; and

             e.  All other assets under the care and control of the HOA

(ii) To provide or contract for security protection for the Emerald Bay Subdivision.

(iii) To improve, repair, maintain, manage and care for the streets and roadways situated in the Emerald Bay Subdivision via contract with Emerald Bay Municipal Utility District or any other qualified contractor.

(iv) To provide architectural control pursuant to the Restrictions and Covenants applicable to the Emerald Bay Subdivision and enforcement of same.

(v) To keep the vacant lots in the Emerald Bay Subdivision mowed and free and clean of debris pursuant to the Restrictions and Covenants applicable to the Emerald Bay Subdivision and all applicable provisions of the Texas Property Code.

1.3. NONPROFIT PURPOSE. The HOA shall not have the authority to act, do or perform any act or deed which would nullify the HOA's tax-exempt status as a homeowners association under the Internal Revenue Code of the United States of America.