TOWN OF CONVERSE NEIGHBORHOOD DEVELOPMENT CORPORATION

THE CORPORATION IS ORGANIZED SOLELY FOR THE PURPOSES OF ASSISTING THE TOWN OF CONVERSE, INDIANA (THE "TOWN") BY ACQUIRING AND OWNING IN FEE SIMPLE CERTAIN REAL PROPERTY WITHIN THE TOWN AND CARING FOR AND APPROPRIATELY DISPOSING OF SUCH REAL PROPERTY AND TAKING ALL ACTIONS RELATED TO SUCH ACQUISITION, CARE, AND DISPOSITION OF SUCH PROPERTY ENTIRELY WITHOUT PROFIT TO THE CORPORATION, ITS OFFICERS, DIRECTORS, OR INCORPORATORS, OTHER THAN RETURN OF CAPITAL ACTUALLY INVESTED. THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR THE PROMOTION OF SOCIAL WELFARE AND IS NOT ORGANIZED FOR PROFIT, ALL WITHIN THE MEANING OF SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").