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Article I
DefinitionsSection 1. “Association” shall mean and refer to the MAYNARD LAKE HOMEOWNERS ASSOCIATION, a non-profit corporation organized and existing under the laws of the State of Illinois. Section 2. “Member” shall mean the person designated by the record owner or owners of each platted lot in Maynard Lake Subdivisions entitled to receive notice of meetings of the Association and to vote at such meeting, either in person or by proxy. Section 3. ”Common Properties” shall mean and refer to such common areas including Maynard Lake, buildings, structures and personal properties incidental thereto, and any other properties owned and maintained by the Association for the common benefit and enjoyment of the residents within the Maynard Lake Subdivision.
Location Section l. The principal office of the Association shall be located in Maynard Lake Subdivision in Champaign County, Illinois.
Membership Section 1. The owner or owners of each platted lot in Maynard Lake Subdivisions in the Northeast Quarter of Section 21, Township 19 North, Range 8 east of the Third Principal Meridian, shall be entitled to one voting membership in the Association for each lot owned. The members of the lot owner’s family residing in his household shall be entitled to non-voting membership in the Association. Section 2. Association members and members of their family residing in their household shall be entitled to the use and benefit of the common properties owned by the Association subject to the rules and regulations adopted by the Association governing the use thereof. Section 3. The initial membership registration fee is fixed at the sum of Ten Dollars ($10.00), per platted lot, payable by Maynard Lake Realty Company. Section 4. The rights of membership are subject to the payment of annual dues and special assessments levied by the Association, the obligation of which assessments is imposed against each land owner and becomes a lien upon said owner’s land in said subdivision to the extent levied against his lot. Assessments may be levied for the following purposes although this listing is not exclusive:
The assessments for the above purposes shall be assessed at an equal amount per platted lot and the total of the annual assessment and dues shall not exceed the sum of (ONE HUNDRED SEVENTY ($170) One hundred Sixty ($160.00) per platted lot unless a larger amount is approved by the owners of eighty (80) per cent of the platted lots in Maynard Lake Subdivisions. Assessments shall also be levied for fire protection service in the Maynard Lake Subdivisions, but such assessments shall be levied only upon lots with improved structures thereon and only so long as said lot is located outside the city limits of the City of Champaign, Illinois. Section 5. The membership rights of any person may be suspended by action of the Directors during the period when any assessment remains unpaid; but upon payment of such assessment, his rights and privileges shall be automatically restored. The suspension of such person shall not affect the lien of the assessment. If the Directors have adopted and published rules and regulations governing the use of the Common Properties and facilities and the personal conduct of any person thereon, as provided in Article VIII, Section 1, they may, in their discretion, suspend the rights of such persons for violation of such rules and regulations for a period not to exceed thirty (30) days.
Voting Rights Section 1. On all matters brought for vote by said Association there shall be permitted one vote for each lot in the platted Subdivisions of Maynard Lake, said vote to be exercised by the record owner thereof or the designated representative of said record owner.
Association Purposes and Powers Section 1. The Association has been organized for the following purposes: l. To promote the health, safety and welfare of the residents of Maynard Lake Subdivisions in the Northeast Quarter (1/4) of Section 21, Township l9 North, Range 8 East of the Third Principal Meridian in Champaign County, Illinois; 2. To own, acquire, build, operate and maintain recreational areas in Maynard Lake Subdivisions; including Maynard Lake, playgrounds, common areas, buildings, structures and personal properties incident thereto; 3. To provide for the maintenance of the Common Properties and facilities; 4. To provide for fire and police protection; 5. To fix assessments or charges and annual dues to be levied upon lots and homes within the above described subdivisions, subject to the by-laws of said Association; 6. To enforce any and all covenants, restrictions, and agreements applicable to lots within the aforesaid Subdivisions; 7. To pay taxes, if any, levied upon the Common Properties and facilities of the Association; 8. To do any other thing that, in the opinion of the Board of Directors, will promote the common benefit and enjoyment of the residents of Maynard Lake Subdivisions within the general intent and scope of these by-laws.
Board of Directors Section 1. The affairs of the corporation shall be managed by a Board of six (6) Directors, who shall be members of the Association. Until November 1, l972, or until Seventy-five (75) percent of the lots in Maynard Lake Subdivision have been sold, whichever event first occurs, the subdivider, Maynard Lake Realty Co., shall have the right to name three (3) of the Directors and the remaining three (3) Directors shall be elected by the members of the Association. The initial Board shall consist of six (6) Directors, two (2) for a one (1) year term, two (2) for a two (2) year term, and two (2) for a three (3) year term. One Director in each classification will be names by the developer. Beginning with the first annual meeting to be held after October 18, l967, two (2) Directors shall be named, one (1) by the developer as above provided and the other to be elected by the members for a three year term. Section 2. Vacancies in the Board of Directors shall be filled by majority vote of the remaining Directors, said person to serve for the remainder of the term of the former Director. The Director so appointed shall be named by the developer or from the other members of the Association to preserve the three (3), three (3) balance.
Election of Directors Section 1. Election to the Board of Directors shall take place at the annual meeting, as hereinafter provided. At such election, the members of the Association or their proxies may cast, in respect of each vacancy to be filled, one (1) vote per lot owned. The names receiving the largest number of votes shall be elected. Powers and Duties of the Board of Directors Section 1. The Board of Directors shall have the power: To call special meetings of the members whenever it deems necessary, and it shall call a meeting at any time upon written request of one-fourth (1/4) of the voting membership, as provided hereunder; To appoint and remove at pleasure all officers, agents and employees of the Association, prescribe their duties, fix their compensation, if any, and require of them such security as it may deem expedient; To establish, levy and assess, and collect the dues, assessments and/or charges referred to in these By-laws; To adopt and publish rules and regulations governing the use of the Common Properties and facilities and the personal conduct of the members and their guests thereon; To exercise for the Association all powers, duties, and authorities vested in or delegated to this Association, except those reserved to the members. Section 2. It shall be the duty of the Board of Directors: To cause to be kept a complete record of all of its acts and corporate affairs and to present a statement thereof to the members at the annual meeting of the members, or at any special meeting when such is requested, in writing, by one-fourth (1/4) of the voting membership; To fix the amount of assessment against each lot for each assessment period. To prepare a roster of the properties and assessments applicable thereto, which shall be kept in the office of the Association and shall be open to inspection by any member; To send written notice of each assessment to every owner subject thereto; To issue, or to cause an appropriate officer to issue, upon demand by any person a certificate setting forth whether any assessment has been paid. Such certificate shall be conclusive evidence of any assessment herein stated to have been paid.
Directors’ Meetings Section 1. A regular meeting of the Board of Directors shall be held immediately following the annual meeting of the members of the Association, and at such other times as the Board of Directors may, by resolution, designate. Section 2. Notice of the regular annual meeting is hereby waived. Section 3. Special meetings of the Board of Directors shall be held when called by any officer of the Association, or by any two (2) Directors after not less than two (2) days’ notice to each Director. Section 4. The transaction of any business at any meeting of the Board of Directors, however called and noticed, or wherever held, shall be as valid as though made at a meeting duly held after a regular call and notice is a quorum is present and, if either before or after the meeting, each of the Directors not present signs a written waiver of notice, or a consent to such waivers, consents or approvals shall be filed with the corporate records and made a part thereof. Section 5. The majority of the Board of Directors shall constitute a quorum thereof.
Officers Section 1. The officers shall be a president, vice president, a secretary and a treasurer. The president and vice president shall be members of the Board of Directors. Section 2. The officers shall be chosen by majority vote of the Directors. Section 3. All officers shall hold office during the pleasure of the Board of Directors. Section 4. The president shall preside at all meetings of the Board of Directors, shall see that orders and resolutions of the Board of Directors are carried out and sign all notes, checks, leases, mortgages, deeds and all other written instruments. Section 5. The vice president shall perform all the duties of the president in his absence. Section 6. The secretary shall be ex officio the secretary of the Board of Directors, shall record the votes and keep the minutes of all proceedings in a book to be kept for the purpose. He shall keep the records of the Association. He shall record in a book kept for that purpose the names of all members of the Association together with their addresses as registered by such members. Section 7. The treasurer shall receive and deposit in appropriate bank accounts all monies of the Association and shall disburse such funds as directed by resolution of the Board of Directors, provided however, that a resolution of the Board of Directors shall not be necessary for disbursements make in the ordinary course of business conducted within the limits of a budget adopted by the Board. The treasurer shall sign all checks and notes of the Association, provided that such checks and notes shall also be signed by the president or vice president. The treasurer shall maintain at least the following accounts:
Collections from the assessment for fire protection service shall be deposited in the fire protection account, all other receipts shall be deposited in the general account. Section 8. The treasurer shall keep proper books of account and make a report to the annual meeting of the members.
Committees Section 1. The Association shall have such standing committees as shall be designated by the Board of Directors of the Association.
Meetings of Members Section 1. The regular annual meeting of the members shall be held in the month of October in each year, at the hour of 8:00 P.M., commencing with the year l968. The board shall select the particular date of the month. Section 2. Special meetings of the members for any purpose may be called an any time by the president, the vice president or any two (2) or more members of the Board of Directors, or upon written request of the members who have a right to vote one-fourth (1/4) of all of the votes of the entire membership. Section 3. Notice of any meetings shall be given to the members by the secretary. Notice may be given to the member either personally or by sending a copy of the notice through the mail, postage thereon fully pre-paid to his address appearing on the books of the corporation. Each member shall register his address with the secretary, and notices of meetings shall be mailed to him at such address. Notice of any meeting, regular or special, shall be mailed at least six (6) days in advance of the meeting and shall set forth in general the nature of the business to be transacted. Section 4. The presence at the meeting of members entitled to cast, or of proxies entitled to cast, one-fifth (1/5) of the votes of membership shall constitute a quorum for any action governed by these By-Laws. Any action governed by the Articles of Incorporation or by the restrictive covenants for the subdivision shall require a quorum as therein provided.
Proxies Section 1. At all corporate meetings of members, each member may vote in person or by proxy. Section 2. All proxies shall be in writing and filed with the secretary. No proxy shall extend beyond a period of eleven (11) months, and every proxy shall automatically cease upon sale by the member of his home.
Books and Papers Section 1. The books, records, and papers of the Association shall, at all times, during reasonable business hours, be subject to inspection by members.
Corporate Seal Article 1. The Association shall have a corporate seal in circular form having within its circumference the words: MAYNARD LAKE HOMEOWNERS ASSOCIATION.
Amendments Section 1. These By-laws may be amended, at a regular or special meeting of the members, by a vote of a majority of a quorum of members present in person or by proxy, provided that those provisions of these By-Laws which are governed by the Articles of Incorporation of this Association may not be amended except as provided in the Articles of Incorporation or by applicable law. The initial registration and membership of Ten Dollars ($10.00) per lot, shall not be subject to change. Section 2. In case of any conflict between the Articles of Incorporation and these By-Laws, the Articles shall control; and in case of any conflict between the covenants and restrictions applicable to Maynard Lake Subdivision and these By-Laws, the covenants and restrictions for said Subdivision shall control.
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