WHEREAS, the Board of Directors of Spin Lake Property Owners’ Association, hereinafter "SPIN LAKE", desires to have a uniform policy for past due assessments and the administration of the water system owned and operated by SPIN LAKE.

WHEREAS, when the Spin Lake Subdivision was initially developed, a Declaration of Restrictions was originally recorder and then released apparently before any lot was sold.

WHEREAS, in 1993 a Declaration of Restrictions for SPIN LAKE and By-laws of SPIN LAKE were recorded as document #93-3934 in the Recorder’s Office of McLean County, Illinois.

WHEREAS, since the 1993 Declaration of Restrictions and By-laws of SPIN LAKE were recorded, the members of SPIN LAKE have amended the Declaration of Restrictions and By-laws.

WHEREAS, a substantial number of property owners at the Spin Lake subdivision have voluntarily agreed to be bound by the Declaration of Restrictions, By-laws and all amendments, thereto.

WHEREAS, some of the property owners at the SPIN LAKE have not voluntarily agreed to be bound by the Declaration of Restrictions, By-laws and all amendments, thereto.

WHEREAS, the board of Directors of SPIN LAKE desire to encourage property owners to voluntarily agree the Declaration of Restrictions, By-laws and all amendments, thereto.

WHEREAS, the title companies that insure title insurance in McLean County have generally treated all lots at Spin Lake as being subject to the Declaration of Restrictions, By-laws and all amendments, thereto.

NOW, THEREFORE BE IT RESOLVED, by SPIN LAKE as follows:

1. Lot Restrictions: Any owner of a vacant lot, which has more than two years of assessments owed to SPIN LAKE, who voluntarily agrees in writing to be bound by the Declaration of Restrictions, By-laws and all amendments thereto shall only be obligated to pay two years of prior assessments plus the current year of assessments. The written agreement to abide by the Restrictions and By-laws shall be recorded in the Recorder of Deeds Office of McLean County. Following receipt of this written agreement by the Treasurer, the Treasurer is authorized to cancel all past due assessments except for those that are required to be paid pursuant to this Resolution.

2. Liens: As soon as reasonably possible after the annual meeting of SPIN LAKE, the President or representative of SPIN LAKE designated by the President or Board shall file liens against property owners as provided for herein. Liens shall be filed against any property owner who owes any assessment for the preceding calendar year and/or is 180 days behind in the payment of their water bill to SPIN LAKE as of the date of the annual meeting.

3. Water shut off: Any customer of SPIN LAKE’S water system who is 3 months behind or more in their water bill shall have their water service disconnected. Any such customer who does not have a water shut off shall pay a special assessment of $35.00 to the water fund of SPIN LAKE for the cost of disconnection. Water service shall not be reconnected to any such property until the entire past due water bill is paid, any disconnection expenses paid and a reconnection fee of $35.00 is paid.

4. Water Service: At all times after the effective date of this Resolution, water service shall not be furnished to any property owner that has not voluntarily agreed to be bound by the Declaration of Restrictions and By-laws of SPIN LAKE, as originally recorded as Document #93-3934 in the Recorder’s Office of McLean County, Illinois and as amended thereafter. Any existing property owner, who is receiving water service and who has not signed a written agreement to be bound by these Restrictions, may continue to receive water so long as the existing property owner owns the property. Thereafter, upon a sale, gift, conveyance or other change of ownership, which results in the existing property owner no longer owning the property, water service will not be furnished unless there is a signed agreement to be bound by the Restrictions. If no such signed agreement is received by SPIN LAKE, then water service shall be disconnected until such time as a written agreement to be bound by the Declaration of Restrictions and By-laws of SPIN LAKE is signed, the reconnection fee of $35.00 has been paid and if applicable, the disconnection costs, as specified in paragraph 4 of this Resolution are paid. The Declaration of restrictions recorded as document #93-3934 in Article VI, Section 2 provides that SPIN LAKE shall furnish water to members in accordance with policies developed by SPIN LAKE. Therefore, the Board of Directors has this authority to establish this policy. SPIN LAKE shall file written notice in the Recorder of Deeds Office in McLean County to provide public notice to those properties which have not signed the Restrictions and which will no longer receive water service upon a sale conveyance or other change of ownership as provided herein.

This Resolution was adopted October 22, 2003 by the Board of Directors of SPIN LAKE.