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201904161 5. Paragraph 4 of Article VII of the Protective Covenants is hereby modified and shall hereafter read as follows: 4. The Kenmare Owners Association's Board of Directors shall have the right to place assessments against the residential lots in Kenmare. Except as otherwise provided in this Paragraph 4, the residential lots in Kenmare shall be assessed uniformly. The purpose of the assessments is to provide for the payment of the taxes assessed against the property owned by the Kenmare Owners Association, the expense of insuring, repairing and maintaining that property including ground maintenance, mowing, snow removal, fish stocking, ground cleaning and any other expense, including capital expense, incurred or anticipated to be incurred by the Kenmare Owners Association. Notwithstanding the foregoing, so long as a residential lot in Kenmare remains undeveloped, the owner of such undeveloped lot may elect to not have such undeveloped lot subject to assessment by the Kenmare Owners Association's Board of Directors. For purposes of this Paragraph 4, a lot is undeveloped if it currently does not have a residence constructed thereon and remains undeveloped until the commencement of the construction of a residence thereon. Such election shall be made in writing and delivered to the Kenmare Owners Association's Board of Directors prior to the placement of the assessment that the owner of the undeveloped lot does not want to be subject to. During the time period that an undeveloped lot is not subject to assessment by the Kenmare Owners Association's Board of Directors, no owner of such undeveloped lot, or any of their guests or invitees, may utilize in any manner whatsoever any of the property owned by the Kenmare Owners Association. 6. Except as amended by this Second Amendment, the Protective Covenants shall remain in effect and shall be applicable to the Subject Property and the Additional Property. 7. The Protective Covenants, as amended by this Second Amendment, shall run with the land and shall be binding upon and shall inure to the benefit of the owners of the Subject Property and the Additional Property, along with their legal representatives, successors and assigns. IN WITNESS WHEREOF, the parties hereto have executed this Second Amendment on this day of July, 2019. (BALANCE OF PAGE INTENTIONALLY LEFT BLANK— SIGNATURE PAGES FOLLOW) Page 4 of 16