WILLAMSBURG AREA IMPROVED DWELLINGS INC

TO PROMOTE THE GENERAL SOCIAL WELFARE OF THE COMMUNITY AND, FOR THAT PURPOSE, TO ACQUIRE, CONSTRUCT, PROVIDE, AND OPERATE RENTAL HOUSING AND RELATED FACILITIES SUITED TO THE SPECIAL NEEDS AND LIVING REQUIREMENTS OF ELDERLY RURAL RESIDENTS OF LOW OR MODERATE INCOME, OR OTHER RURAL RESIDENTS OF LOW INCOME, WITHOUT REGARD TO RACE, COLOR, CREED, OR NATIONAL ORIGIN; TO ACQUIRE, IMPROVE, AND OPERATE ANY REAL OR PERSONAL PROPERTY OR INTEREST OR RIGHTS THEREIN OR APPERTAINING THERETO; TO SELL, CONVEY ASSIGN, MORTGAGE, OR LEASE ANY REAL AND PERSONAL PROPERTY; TO BORROW MONEY AND TO EXECUTE SUCH EVIDENCE OF INDEBTEDNESS AND SUCH CONTRACTS, AGREEMENTS, AND INSTRUMENTS AS MAY BE NECESSARY, AND TO EXECUTE AND DELIVER ANY MORTGAGE, DEED OF TRUST, ASSIGNMENT OF INCOME, OR OTHER SECURITY INSTRUMENT IN CONNECTION THEREWITH; AND TO DO ALL THINGS NECESSARY AND APPROPRIATE FOR CARRYING OUT AND EXERCISING THE FOREGOING PURPOSES AND POWERS.