NEW MEXICO PHI EDUCATION INC

(A) THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO ACQUIRE THROUGH LEASE OR PURCHASE PROPERTY ON WHICH TO BUILD OR RENOVATE A CHAPTER HOUSE OR LODGE FOR THE NEW MEXICO ALPHA CHAPTER ("LOCAL CHAPTER") OF PHI DELTA THETA ("NATIONAL FRATERNITY") ON THE CAMPUS OF THE UNIVERSITY OF NEW MEXICO ("UNM") IN ALBUQUERQUE, NEW MEXICO. ONCE IT IS COMPLETED, THE LOCAL CHAPTER WILL OCCUPY THE LODGE OR CHAPTER HOUSE. THE ORGANIZATION WILL SUBLET THE PROPERTY TO THE LOCAL CHAPTER; RENTAL INCOME WILL BE ENOUGH TO COVER THE OPERATING COSTS. (B) THE ACTIVITY WILL COMMENCE WITH THE SIGNING OF A PURCHASE AGREEMENT OR LEASE WITH UNM FOR PROPERTY LOCATED AT 1705 MESA VISTA ROAD NE, IN ALBUQUERQUE, NEW MEXICO. (C) THE ACTIVITY WILL BE CONDUCTED BY THE ORGANIZATION'S BOARD OF DIRECTORS AND THE MEMBERS OF THE LOCAL CHAPTER UNDER THE GENERAL OVERSIGHT OF ORGANIZATION, UNM, AND THE NATIONAL FRATERNITY.