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ARTICLE IV <br />POWERS <br />The powers of the Association shall include and be governed by the following provisions: <br />Section 1. Common Law and Statutory Powers. The Association shall retai:il the powers and <br />duties granted it by common law, Minnesota Statutes and local ordinances including, but not <br />limited to, the promulgation of rules, and the execution of contracts on behalf of the <br />Association that are not in conflict with the terms of these Articles and the Declaration. <br />Section 2. Necessary Powers. The Association shall have all of the powers reasonably <br />necessary to implement its purpose, including, but not limited, to the following: <br />(a) To exercise all of the powers and privileges and to perform all the duties and <br />obligations of the Association as set forth in the Declaration as the same may be amended <br />from time to time as therein provided, the Declaration being incorporated herein as if set <br />forth at length; <br />(b) To maintain, manage and administer the affairs and property of the Association, in <br />accordance with the provisions of the Declaration and the Bylaws of the Association; <br />(c) To fix, levy, collect and enforce payment by any lawful means, all charges, <br />assessments or fines pursuant to the terms of the Declaration and to pay all expenses in <br />connection therewith and all office and other expenses incident to the conduct of the <br />business of the Association, including all licenses, taxes or governmental charges levied or <br />imposed against the property of the Association, and to use the proceeds of Assessments in <br />the exercise of its powers and duties; <br />(d) To contract for and employ persons, firms or corporations to assist in the <br />management, operation, maintenance and administration of the Single Family Community <br />and the Association; <br />(e) To make and enforce reasonable regulations concerning the use and enjoyment of <br />the Single Family Community; <br />To acquire (by gift, purchase or otherwise), own, hold, improve, build upon, operate and <br />maintain, real or personal property in connection with the affairs of the Association, and to <br />sell, convey, assign, mortgage, lease or otherwise encumber or dispose of the real and <br />personal property, and to borrow money or issue evidence of indebtedness in furtherance <br />of any or all of the foregoing objectives; <br />(g) To engage in such other lawful activities as may be to the mutual . benefit of the <br />Members and their property; <br />2