Sugar Springs Property Owners Association

“Every person or entity who is a record owner of a fee or undivided fee, interest or who shall have an interest as a contract purchaser in any lot or living unit which is subject to the covenants of record to assessment by the association shall be a member. The association shall have one class of voting membership.”

“The board of directors consists of 8 members on staggered three year terms who are elected by the members of the association. All members of the association are allowed one vote per lot or living unit.”

“The association's bylaws require that any increases in the general assessment be approved by two-thirds of the voting members.”

“A copy of the form 990 is provided to the board of directors prior to the filing of the return. No formal process exists for reviewing the return.”

“On an annual basis, all members of the board of directors are required to sign a conflict of interest policy in which they disclose any conflicts of interest they may have with respect to the association.”

“On an annual basis, the members of the board of directors develop a compensation package for the general manager which is based primarily on historical compensation amounts for this position. The compensation package is documented in a letter to the general manager.”

“On an annual basis, the members of the board of directors develop a compensation package for both the treasurer and head golf professional which is based primarily on historical compensation amounts for these positions. The compensation package is documented in letters to the treasurer and head golf professional.”

“Governing documents are maintained in the main office of the association and are available for viewing on request.”

“To promote the health, safety and welfare of the residents within the boundaries of that certain real estate development situated in gladwin county, michigan, commonly known as "sugar springs- and such additions therto as may hereafter be brought within the jurisdiction of this corporation by annexation, hereafter referred to as "the properties- and for this purpose to: (a) provide for the protection of the values, amenities and qualities in the development and for the maintenance, improvement, policing and preservation of common properties (grounds or open space, trails, recreational facilities and the like); (b) supplement municipal services; (c) fix assessments to be levied against the properties; (d) enforce any and all covenants, restrictions and agreements applicable to the properties; and, (e) pay taxes, if any, on the common properties; and, (f) insofar as permitted by law, to do any other thing that will promote the common benefit and enjoyment of the residents of the properties.”