CERTIFICATE OF INCORPORATIOIN OF THE SULLIVAN COUNTY

CERTIFICATE OF INCORPORATIOIN OF THE SULLIVAN COUNTY

CERTIFICATE OF INCORPORATIOIN OF THE SULLIVAN COUNTY LAND BANK CORPORATION A Not-for-Profit Land Bank Corporation Under Article 16 of the Not-for-Prof...

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CERTIFICATE OF INCORPORATIOIN OF THE SULLIVAN COUNTY LAND BANK CORPORATION A Not-for-Profit Land Bank Corporation Under Article 16 of the Not-for-Profit Corporation Law of the State of New York THE UNDERSIGNED, being over the age of eighteen years, for the purpose of forming a not-for-profit land bank corporation pursuant to Article 16 of the Not-for-Profit Corporation Law of the State of New York, hereby certifies as follows: FIRST:

The name of the corporation shall be Sullivan County Land Bank Corporation (hereinafter referred to as the “Corporation”).

SECOND:

The Corporation will be a corporation as defined in subparagraph (a)(5) of Section 102 of the Not-for-Profit Corporation Law of the State of New York and, as provided in Section 1603(f) of the Not-for-Profit Corporation Law, will be a Type C Corporation as defined in Section 201 of the Not-for-Profit Corporation law. The Corporation shall be a public instrumentality of and supporting organization for, but separate and apart from Sullivan County, New York (the “County”).

THIRD:

The purposes for which the Corporation is to be formed and operated are exclusively for charitable purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, to combat community deterioration by facilitating the return of vacant, abandoned, and tax-delinquent properties to productive use in order to eliminate the harms and liabilities caused by such properties, and lessen the burden of government and act in the public interest. In furtherance of said purposes, the Corporation’s powers shall include all powers and duties granted to land bank corporations as set forth in Article 16 of the Notfor-Profit Corporation Law of the State of new York, as it may be amended from time-to-time, which powers are incorporated herein by reference as if fully stated herein, and shall also include:

FOURTH:

(a)

Any other act or thing incidental to or connected with the foregoing purposes or in advancement thereof, but not for the pecuniary profit or financial gain of its members, directors, officers or any private person.

(b)

In general, to perform any and all acts and things, and exercise any and all powers which may now or hereafter be lawful for the Corporation to do or exercise under pursuant to the laws of the State of New York for the purpose of accomplishing any of the foregoing purposes of the Corporation.

The Corporation’s public objective and mission, which the Corporation’s purpose will achieve, includes the lessening of the burdens of government by undertaking,

promoting, and facilitating the return of vacant, abandoned, and tax delinquent properties to productive use in order to eliminate the harms and liabilities caused by such properties and to combat community deterioration in the County, that will include real estate development and management, real estate project finance, and other community-based economic and human services development activities permissible under the Not-for-Profit Corporation Law. The Corporation may contract with other foreclosing governmental units within the County to achieve these purposes on terms agreeable to the Corporation. FIFTH:

The operations of the Corporation will be principally conducted within the territory of the County.

SIXTH:

All income and earnings of the Corporation shall be used exclusively for its corporate purposes with the intent being that all income and earnings will be expended or deposited in appropriate reserves for corporate purposes.

SEVENTH:

The property of the Corporation is irrevocably dedicated to charitable purposes.

EIGHTH:

The Corporation shall not attempt to influence legislation by propaganda or otherwise, or participate in or intervene, directly or indirectly, in any political campaign on behalf of or in opposition to any candidate for public office.

NINTH:

The Corporation shall not engage in any activities not permitted to be carried on by an organization exempt from federal income taxation pursuant to Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder.

TENTH:

In the event of the dissolution of the Corporation or the winding up of its affairs, the Board of Directors shall, after paying or making provision for the payment of all debts and liabilities of the Corporation of whatsoever kind or nature, distribute all of the remaining assets and property of the Corporation to the County as set forth in Section 1613 of the Not-for-Profit Corporation Law.

ELEVENTH: The office of the Corporation shall be located in the County of Sullivan, State of New York. TWELFTH:

The types or classes of Membership in the Corporation and the number of Members of the Corporation shall be described in the By-Laws. The initial Members of the Corporation shall be identified in the By-Laws.

THIRTEENTH:

The Corporation shall be initially managed by nine (9) directors, whom shall be appointed by the Sullivan County Legislature. All directors must either be a resident of or employed in Sullivan County. The term of office for a director shall be two (2) years unless a director serves by virtue of a public, elective office in which case the term for a director shall run concurrently with the term of office or two years, whichever is less. Any

subsequent increase or decrease in the size of the Board of Directors will require the unanimous approval of the Members, and shall be in accordance with Article 16 of the Not-for-Profit Corporation Law of the State of New York. FOURTEENTH:

The names and addresses of the initial Directors of the Corporation will be as follows:

Name

Address

Joshua Potosek Sullivan County Manager

100 North Street Monticello, New York 12701

Nancy Buck Sullivan County Treasurer

100 North Street Monticello, New York 12701

Freda Eisenberg Sullivan County Commissioner of Planning

100 North Street Monticello, New York 12701

Alan Sorensen Sullivan County Legislator

100 North Street Monticello, New York 12701

Terri Ward Sullivan County Legislator

100 North Street Monticello, New York 12701

Ira Steingart Sullivan County Legislator

100 North Street Monticello, New York 12701

Daniel Wright Village of Liberty Trustee

167 North Main Street Liberty, New York 12754

David Sager Village of Monticello Manager

2 Pleasant Street Monticello, New York 12701

Jacquelyn Levintoff Senior Director Community & Employee Relations

Granite Associates, LP 1 Cablevision Center Liberty, New York

FIFTEENTH:

The duration of the Corporation shall be perpetual.

SIXTEENTH:

The Corporation shall indemnify each Member, each Director, each officer, and, to the extent authorized by the Board of Directors, each other person authorized to act for the Corporation or on its behalf, to the full extent to which indemnification is permitted under the Not-for-Profit

Corporation Law. SEVENTEENTH:

The Secretary of New York is designated as agent of the Corporation upon whom process against it may be served. The post office address to which the Secretary of State shall mail a copy of any process against the Corporation served upon him is as follows: Sullivan County Attorney’s Office, Government Center, 100 North Street, PO Box 5012, Monticello, New York 12701.

EIGHTEENTH:

The By-Laws of the Corporation may be adopted, amended or repealed by a majority of the voting Directors of the Corporation.

NINETEETH:

The Corporation will not do any of the following: (a)

Without the affirmative vote of all Members of the Corporation, increase or decrease the number of Members of the Corporation or increase or decrease the number of Directors of the Corporation.

(b)

Without the affirmative vote of a majority of the voting Directors of the Corporation and all of the Corporation’s members, (i) dissolve or liquidate, in whole or in part, or institute proceedings to be adjudicated bankrupt or insolvent, (ii) consent to the institution of bankruptcy or insolvency proceedings against it, (iii) file a petition seeking or consenting to reorganization or relief under any applicable federal or state law relating to bankruptcy or insolvency, (iv) consent to the appointment of a receiver, liquidator, assignee, trustee, sequestrator or other similar official of the Corporation of a substantial part of its property, (v) make a general assignment for the benefit of creditors, (vi) admit in writing its inability to pay its debts generally as they become due or (vii) take any corporate action in furtherance of the actions set forth in clauses (i) through (vi) of this paragraph.

(c)

Without the affirmative vote of all the Directors of the Corporation and all of the Corporation’s Members, merge or consolidate with any other corporation, company or entity or, except to the extent contemplated by paragraph THIRD hereof, sell all or substantially all of its assets or acquire all or substantially all of the assets or capital stock or other ownership interest of any other corporation, company or entity.

TWENTIETH:

Pursuant to Section 1603 of the Not-for-Profit Corporation Law, the creation of the Sullivan County Land Bank Corporation was duly authorized by Resolution No. ___ of the Sullivan County Legislature passed on ______________, 2016.

TWENTY-FIRST:

Pursuant to Section 1603 of the Not-for-Profit Corporation Law, the

creation of the Sullivan County Land Bank Corporation is not effective unless and until approved by the New York State Urban Development Corporation d/b/a Empire State Development Corporation. IN WITNESS WHEREOF, this certificate has been subscribed this ____ day of ______, 2016. _______________________ Incorporator Luis Alvarez, Chairman 100 North Street Monticello, New York

ACKNOWLEDGMENT STATE OF NEW YORK, COUNTY OF SULLIVAN

SS.:

On the day of , 2016 before me, the undersigned, a notary in and for said State, personally appeared LUIS ALVAREZ, personally known to me or proved to me on the basis of satisfactory evidence to be the individual whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his capacity and that by his signature on the instrument, the individual, or the person upon behalf of which the individual acted, executed the instrument.

_________________________________ Notary Public