Restrictive Covenants & By-laws

Governing the operation of the Association.

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OVERVIEW
Amended & Restated Declaration of Restrictive Covenants & By-laws for the Lake Wildwood Association, Inc.
This Amended and Restated Declaration of Restrictive Covenants has been approved this 9th day of February 2013, by no less than two-thirds (2/3) of the Board of Directors, pursuant to Section 1-60 of the Illinois Common Interest Community Act (“Act”), which states that if there is an omission or error in the declaration or other instrument of the association, the association may correct the error or omission by an amendment to the declaration or other instrument, as may be required to conform it to this Act, to any other applicable statute, or to the declaration. The amendment shall be adopted by vote of two-thirds (2/3) of the members of the board of directors or by a majority vote of the members at a meeting called for that purpose, unless the Act or the declaration of the association specifically provides for greater percentages or different procedures;

WHEREAS, Association and its Owners are the legal title holders of certain real property in Lake Wildwood, County of Marshall and State of Illinois, which real estate is legally described on Exhibit “A” attached hereto and made a part hereof (the “Development”): and

WHEREAS, the Development has been improved with Lots and Homes together with certain Community Areas (as hereinafter defined); and

WHEREAS, in order to preserve and enhance the values and amenities of the Development, there has been established the Lake Wildwood Association, Inc. (the “Association”) which shall own and have the responsibility for maintaining the common property of the Development and any improvements or facilities thereon, and for administering and enforcing the covenants, conditions, restrictions and easements as hereinafter set forth and for collecting and disbursing the assessments and charges hereinafter created; and

WHEREAS, the Development has been subjected to the covenants, conditions, restrictions, easements, assessments, charges and liens in the Original Declaration (as hereinafter defined) as again set forth in this Declaration.

NOW, THEREFORE, Association and its Owners hereby declare that the Development shall be held, transferred, conveyed and occupied subject to this Amended and Restated Declaration and the following covenants, conditions, restrictions, easements, assessments, charges and liens which are for the purpose of protecting the value and desirability of, and which shall run with the Development subjected hereto and be binding on and inure to the benefit of any Owner (as hereinafter defined) thereof and to all parties having or acquiring any right, title or interest therein or in any part thereof.