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K. Boat docks will be constructed with the least possible intrusion into the <br />lake. <br />Maintenance of Grounds - <br />A. Sea wall, docks & lake frontage shall be properly; maintained. <br />B. Leaseholders must keep up their premises & area for disposition of rubbish & not . <br />allow it to accumulate. <br />C. No material or debris shall be placed across the road from the lessee's lot, on <br />common areas or in the lake. <br />10. The Shareholders' semi- annual meetings are scheduled for 7:00 P.M. at the Saddle Club. <br />A. Treasurer's Report to be submitted to the shareholders at the semi - annual meetings. <br />B. Written minutes from the last Shareholders' meeting will be mailed to all <br />shareholders accompanied with the upcoming agenda for the meeting. <br />11. A $25.00 late fee will be assessed monthly for shareholders that have not paid their <br />assessment by October l', of the year due. <br />12. Written minutes from the previous Board meeting will be delivered to all shareholders <br />accompanied with the agenda for the upcoming regular meeting. <br />13. Board of Directors' spending is limited to $7000.00 on special projects without majori <br />shareholders' approval. This does not apply to the mowing contract. <br />14. Occupancy and Use- <br />A. Only dwellings intended for occupancy by one family may be constructed upon the <br />leased premises and occupancy by more than one family in any such dwelling shall <br />not be permitted. <br />B. In no event shall the lease premises be utilized for ;any < commercial-or business.::, <br />enterprise. <br />C. As of February 1, 2005, new leases shall state the leased premises will be occupied <br />by one family only. <br />D. For the purposes of the restricted occupancy herein permitted, a "family" shall be <br />defined as persons related by blood, marriage or adoption, and any persons residing <br />in a committed familial relationship to each other, even if not related by blood or <br />adoption, together with any children in any way related by blood or adoption to either <br />of the persons residing in a committed familial relationship. <br />The undersigned hereby acknowledges receipt of the Rules and . <br />Regulations of Kuester Lake, Inc. on this day of /104e <br />20)V . <br />kV_ <br />3 Kuester Lake, Inc. Rules and Regulations — Updated 4/07/2009 <br />201803583 <br />