ARTICLE i - General

Section 1. This not-for-profit corporation shall be known as the Spin Lake Property Owner's Association, an Illinois not-for-profit corporation, and any reference to the Association hereafter shall mean said corporation.

Section 2. The word "Development" shall mean Spin Lake (a Subdivision of the Northeast Quarter of Section 7, Township 24 North, Range 1 West of the Third Principal Meridian, according to the Plat recorded July 8, 1966 as Document No. 66-2757 in McLean County, Illinois) Spin Lake Extension I (a Subdivision of Outlot F and a resurvey of Lots 136 through 139 and of Lots 154 through 168 in Spin Lake, a Subdivision of the Northeast Quarter of Section 7, Township 24 North, Range 1 West of the Third Principal Meridian, according to a Plat recorded April 25, 1969 as Document No. 69-2749 in McLean County Illinois), and Spin Lake Extension II (a subdivision of the South West 1/4 of the North West 1/4 and the West 1/2 of the North West 1/4 of the North West 1/4 and a part of the North West 1/4 of the South West 1/4 of Section 8, Township 24 North, Range 1 West of the Third Principal Meridian. according to Plat recorded February 13, 1970 as Document 70-780 in McLean County, Illinois.) hereafter referred to as the "Development."

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ARTICLE II - Purpose

Section 1. The purpose of the Association shall be to foster and promote the interest of lot owners in the Spin Lake Development, Danvers, Illinois.

Section 2. To promote social recreation for its members, their families and guests.

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ARTICLE III - Membership

Section 1. Classes. There shall be two (2) classes of membership in the Association, Members and Associate Members.

Section 2. Associate Member. Every person who acquires title (legal or equitable) to any residential lot or other property in the Development, and has not paid annual dues, road fees, snow removal fees, water charges and special assessments, shall be known hereafter as an "Associate Member" of the Association.

Section 3. Member. Every person who acquires title (legal or equitable) to any residential lot or other property in the Development, and has currently paid annual dues, road fees, snow removal fees, water charges and special assessments, shall be known hereafter as a "Member" of the Association, except that only one (1) of any number of co-owners shall be a Member.

Membership shall be limited to the owner of one (1) or more lots (as the same is defined herein).

A. If a lot is owned by two or more individuals, then the owners of that lot shall designate in writing one owner as its proxy to cast its vote and represent the lot. If a lot is owned by a corporation, trust, or other non-natural person who is a voting Member, then it shall designate in writing a natural person as its proxy to cast its vote and represent the lot.

B. Ownership of more than one (1) lot shall entitle the owner to all the rights and privileges of membership (except voting) and shall subject such owner to all the liabilities and duties attendant upon ownership of each lot separately. A Member shall be entitled to one vote, regardless of the number of lots the Member owns.

Section 4. Membership Restrictions. Only Members shall be entitled to vote in the affairs of, or hold office in, the Association. Only Members, immediate family of Members, and guests accompanied by Members, shall have Lake, beach, fishing rights, swimming privileges, use of the campground, and water usage from the common well, to the extent it is available. Associate Members shall not be entitled to vote, and shall not have access to the Lake, beach, fishing rights, swimming privileges, use of common areas, or water usage from the common well.

 

Article IV - Meetings

Section 1. Notice of Meetings. Notice of meetings for both the Annual and special meetings of the Association membership shall be mailed not less than ten (10) days before any such meeting, and if for a special meeting, such notice shall state the object thereof.

Section 2. Annual Meeting. The Annual Meeting of the Association shall be held during the month of September each year at a place and hour to be designated in the notice. If a quorum is not present, the meeting will be recalled by the President within thirty (30) days and those present at that meeting will constitute a quorum.

Section 3. Quorum. A quorum at any meeting of the membership, other than a recalled Annual Meeting, shall consist of at least twenty (20) Members, and a quorum at any Directors' Meeting shall consist of at least seven (7) Members of the Board of Directors.

Section 4. Proxies. Each Member (not Associate Member) is entitled to vote, and shall have the right to do so either in person or by an agent or agents authorized by a written proxy executed by such member or his duly authorized agent and filed with the secretary of the Association prior to the Directors' Meeting, provided that no such proxy shall be valid after the expiration of eleven (11) months from the date of its execution unless the person executing it specifies therein the length of time for which such proxy is to continue in force, which in no event shall exceed seven (7) years from the date of its execution. Proxies to be used as a purpose of voting at the Annual Meeting must be filed with the Secretary immediately prior to the meeting. Members are privileged to vote for or against a change in the By-Laws and other pertinent matters as may come before the Annual Meeting, as well as voting on the selection of Board Members.

Section 5. Order of Business. The order of business at the annual meeting shall be prescribed by the Board of Directors. Roberts' Rule of Order shall prevail at all Directors' and Annual Meetings.

Section 6. Voting Record. The Association shall make a complete list of Members entitled to vote, as of the commencement of any meeting, and shall present such a list at the Annual Meeting for the inspection of all Members. The list shall also be available to the inspection of any Member throughout the year.
 

Article V - Directors

Section 1. Directors' Meetings. The Board of Directors shall hold a meeting at least once quarterly, and as often as the President or any four (4) members of the Board of Directors may direct.

Section 2. Directors. A Board of Directors shall manage the business and affairs of the Association. The Board of Directors shall be composed of 12 directors who shall each be a Member of the Association. (9/10/1995 amendment) However, a Member, as defined in Article III Section 3 aforesaid, may not serve on the Board of Directors at any time unless the Member has signed an agreement to be bound by the By-Laws and Declaration of Restrictions and said written agreement has been recorded in the Deed's Office of McLean County, Illinois. Elections for the appropriate number of directors shall be held at the annual meeting of the Association. Each Member will be entitled to cast one (1) vote for each board member to be elected at the time of the voting, with no cumulative voting. Directors shall be elected to a term of 3 years and shall hold office from January 1 of the year following the election until December 31 of the year their term expires. Expiring terms shall be staggered so that no more than one third of the Board is elected in any given year. If a director resigns or is removed from the Board during their tenure, the President, with the advice and consent of the Board, shall appoint a member, who shall serve until the next annual meeting, at which time an election shall be made to fill the remaining portion of the term of the departed Director. Members of the Board of Directors shall not be compensated monetarily for their positions; their tenure on the Board is voluntary and not-for-profit. Removal may occur if the Director ceases to qualify as a Member at any time, or is absent from half of the required Board of Directors' meetings. The Board of Directors shall vote on the removal of any Member.
 

Article VI - Officers

Section 1. General. The officers of the Association shall be one (1) President, one (1) Vice-President, one (1) Secretary and one (1) Treasurer, and each of them shall be elected for a one year term by the Board of Directors during the first Directors' meeting following the Annual Meeting. Each officer shall hold his or her office until a resignation or removal. Only Members are eligible for Directorship.

Section 2. The President. The President, who shall be chosen from the Board of Directors, shall be the chief executive officer of the Association and shall, subject to the control of the Board of Directors, have general supervision, direction and control of the business and officers of the Association. He or she shall preside at all meetings of the members and of the Board of Directors.

Section 3. The Vice President. In the absence or disability of the President, the Vice President designated by the Board of Directors shall perform all the duties of the President, and when so acting, shall have all the powers of and be subject to all the restrictions upon the President.

Section 4. Secretary. The Secretary shall keep or cause to be kept at such place as the Board of Directors may order, a book of minutes with all meetings of Directors and members, or a duplicate thereof, with the time and place of holding, whether regular or special, and if special, how authorized, the notice thereof given, the names of those present at Directors' meetings, the number of membership present or represented at members' meetings, and the proceedings thereof, and proxies recorded. The Secretary shall also give notice of all future meetings.

Section 5. Treasurer. The Treasurer shall keep and maintain, or cause to be kept and maintained, adequate and correct accounts of the properties and business transactions of the Association, including accounts of its assets, liabilities, receipts, disbursements, gains or losses. In addition, The Treasurer shall keep or cause to be kept, in any form permitted by law, a membership register showing the names and addresses of members, and the description and number of said members. The books of account shall be at all times open to inspection by any Director. The Treasurer shall deposit all moneys and other valuables in the name of and to the credit of the Association with such depositaries as may be designated by the Board of Directors. He or she shall disburse the funds of the Association as may be ordered by the Board of Directors, shall render to the President and Directors, whenever they request it, and at all Directors' meetings and Annual Meetings, an account of all of his or her transactions as Treasurer and of the financial condition of the Association.

Treasurer: Despite any of the foregoing provisions or provisions hereinafter set forth in the By-Laws, the Treasurer of the Association shall not be obligated to pay annual dues, road fees, or snow removal fees to the Association for any time period in which the Treasurer holds office of Treasurer. In addition, the Treasurer shall not be obligated to pay for water service rendered to the personal residence of the Treasurer if the personal residence of the Treasurer is located at Spin Lake. There shall only be one personal residence of the Treasurer even if the Treasurer owns more than one residence at Spin Lake. The foregoing free water service and waiver of annual dues, road fees, or snow removal fees is to be provided to the Treasurer as compensation to the Treasurer for services rendered as Treasurer of the Association. When the individual who holds the office of Treasurer ceases to act as Treasurer they shall thereafter be obligated to pay annual dues, road fees, or snow removal fees for water service. These charges shall be pro-rated as necessary at the time when the person that holds the office of Treasurer no longer holds the office of Treasurer.

Section 6. Term of Officer. Each officer shall hold his or her office until the expiration of the term, a resignation or removal, whichever occurs first.
 

Article VII - Committees

Section 1. The committees shall be appointed by the President no later than the second meeting of his or her tenure as such. Each committee shall consist of three (3) or more members.
 

Article VIII - Amendments

Section 1. These By Laws may be amended in the following manner:

By a majority vote of the members present at any annual meeting where the quorum requirements have been met at said meeting provided, however, that notification of the amendments proposed to be voted on shall have been mailed to each Member and Associate Member, not less than ten (10) days or more than thirty (30) days prior to said meeting. Copies of the proposed amendments shall be available upon request.

Section 2. All prior By Laws and Amendments thereto are revoked and canceled.
 

Article IX - Dues, Fees, and Assessments

Section 1. General. Prior to the annual meeting, the Board of Directors shall consider the current and future needs and adequate reserves of the association and, in light of those needs, shall fix by resolution the amount of the annual dues, road fees, and snow removal fees to be levied against each lot or lot owner in the Development, which amounts shall be a debt of the owner thereof at the time such charge is made.

In addition, at any time during the calendar year, the Board of Directors may fix by resolution a special assessment for emergency expenditures.

Annual dues are on a per lot basis. However, if lots are contiguous and under one (1) tax ID number, the lots shall be considered one lot. Road fees, snow removal fees and special assessments are charged to the lot owner and not on a per lot basis. However, snow removal fees shall be levied against a lot which has improvements constructed on it.

Section 2. Amount. The amount of the annual dues, road fees, snow removal fees, and any special assessments are attached as an addendum to the Declaration of Restrictions. The amount of any special assessment, and when that assessment is due, shall be determined by the Board of Directors and set forth in the addendum.

Any increase in annual dues, road fees, and snow removal fees must be approved by the Members. The annual dues, road fees, and snow removal fees may be reduced by the action of the Board of Directors prior to the annual meeting.

Water service fees are set by action under Article X Section 5.

Section 3. Notice. The Treasurer shall mail to each Member and Associate Member at such Member's and Associate Member's recorded address, written notice of the annual dues, road fees, and snow removal fees and the time and manner of payment thereof prior to April 15th of each year. Written notice of special assessments shall be given at least 60 days before they are due and payable.

Section 4. Lien. By becoming a Member of the Association, each Member agrees as follows concerning any failure to pay any Association charges: if any charge is levied or assessed against any lot subject to these By Laws shall not be paid when due, it shall then ipso facto become a lien upon the lot or lots owned by the persons owing such charge or charges, and shall remain a lien against said lot or lots until paid in full, together with interest as is hereinafter provided and other charges or costs which might become due as a result of non-payment, or as is hereinafter provided. Such charges as are provided for in these By Laws shall bear interest at the rate of 7% per annum until paid in full. If, in the opinion of the Board of Directors of the Association, such charges have remained due and payable for an unreasonably long period of time, they may, on behalf of the Association, institute such procedures, either in law or in equity, either by way of foreclosure of such lien or otherwise, to collect the amount of said charge in any court of competent jurisdiction. The owner of the lot or lots subject to the charge, shall, in addition to the amount of the charge at the time legal action is instituted, be obligated to pay any expenses or costs, including attorneys' fees, incurred by the Association in collecting the same. Every person who shall become the owner of any lot subject to these By Laws, whether such ownership be legal or equitable, and any person who may acquire any interest in such lot, whether as an owner or otherwise, is hereby notified and by acquisition of such interest, agrees that any such liens or charges which may be extant upon said lot or lots at the time of the acquisition of such interest are valid liens and shall be paid. Every person who shall become an owner of a lot in the Development is hereby notified that by the act of acquiring such title, such person will be conclusively held to have covenanted to pay the Association all charges that the Association shall make pursuant to this Article of the By Laws.
 

Article X - Water Service

Section 1. The following shall apply to water service in the Development.

FOR LOT OWNERS: Where water lines are currently installed to the owner's lot, the water system is available for Members as defined in the By Laws of the Association.

FOR HOME OWNERS: Where water lines are currently installed to the home owner's lot, the water system is available for Members as defined in the By Laws of the Association.

Section 2. Water will be furnished to property owners in accordance with the policies of the Board of Directors, who shall operate, maintain, and repair the existing common well that serves a portion of the Development.

Section 3. If lot owners do not keep current water charges paid in full, a lien may be placed pursuant to Article IX, Section 4 of these By Laws.

Section 4. In the event that the Board of directors of Spin Lake hereinafter allows a septic line easement on any Spin Lake property, any such septic line easement must require compliance with all the rules of the McLean County Health Department and all other government agencies and any septic line easement that will cross a water line at Spin Lake must contain a requirement to indemnity Spin Lake for any damage caused to the water main of Spin Lake and must hold Spin Lake harmless from any damage that may be incurred by a septic discharge line constructed above a Spin Lake water line.

Section 5. Water Charges. The amount charged for water services shall be determined by action of the Board of Directors prior to the annual meeting. The Chair of the Water Committee shall present to the Board of Directors an evaluation of the current and future expenses associated with providing water service to the residents of Spin Lake.

Section 6. Waive of fees, dues, and charges. Despite any foregoing provisions, or provision hereinafter set forth in the By-Laws, if the Certified Operator in Responsible Charge of the Spin Lake water plant is a Member, he/she shall have the annual dues, road fees, snow removal fees, and water charges (all such amounts herein referred to as charges) waived during any time period in which such individual holds this position. All such charges are those associated with the first lot only. When the individual who acts as Certified Operator in Responsible Charge ceases to so act, all such charges shall cease being waived and that individual shall be obligated to pay all such charges on a pro rated basis.
 

Article XI - Repeal of By-Laws

Section 1. The By-Laws of Spin Lake that were recorded in the Recorder of Deeds Office of McLean County with the Declaration of Restrictions as Document No. 933934 and all the amendments thereto recorded as Document No. 200300003687 and 200300057946 are hereby repealed and replaced by these By-Laws. These By-Laws have been adopted by Members of Spin Lake at a regular meeting of the Members of Spin Lake. Pursuant to Article VIII of the By-Laws recorded as Document No. 933934. In the event that any person who owns a lot at Spin Lake has previously signed an agreement to be bound by the By-Laws, said agreement to be bound by the By-Laws shall continue to apply to these By-Laws. The By-Laws have been modified and re-written into one comprehensive document for the convenience of the public and property owners.

The foregoing By-Laws were adopted by the Members of the Spin Lake Property Owners Association held on the eleventh day of September, 2004.

Updated as of January 1, 2005