Proposed Outline: An arrangement to provide stable, long term stewardship of the Old Camp & surrounding property. Goals: ‘Stable ownership, succession and protection of camp as a family resource Facilitate maintenance of the physical property Promote use of the camp by all family members Establish a workable process for fair collective discussion, decision making & conflict resolution Mechanics: ~ Ownership = Establish a corporation for ownership, a In the agreement Gerald circulated = Each family member has one share, each share is equal A family member is: = Atleast 25 yeurs old = the children of Geraldine & John O'Rourke ~ their children, born & adopted + their children’s children, born & adopted, ete ~ Shawn Buck, when he comes of age = Assurviving spouse holds the interest of minor child until they come of age = Costs Each share is responsible for paying a yearly assessment to cover carrying costs for the property ~ Parents or others can “endow” shares so that children don’t need to pay an assessment “Costs” include Property Taxes ~ Physical maintenance of buildings, road, property, other facilities ~ Fixed furnishings forthe camp (e.g, furniture, things like candles, firewood & bills should be covered by user fees) = Ongoing Property Management = Aboard will be established as a decision making body ~ _ ILwillbe responsible for legal issues, making & collecting yearly assessments and user fees, addressing critical maintenance needs, paying bill, scheduling camp use ~ Iwill have S members, but 3 members will constitute a quorum for decision making = The initial board will be chosen by the children of Geraldine & John O'Rourke ~ _Thereafler Board members elected at S year intervals by majority vote of Sharcholders choosing to participate in election. Except, in the event ofa resignation, death or disability of a board member during his/her term, the vacancy may be filled by a decision of the remaining board members ~ When a vacancy occurs the remaining board members will choose a successor from the shareholders to complete the remainder of @ term ~ _Mfmore than two vacancies simultaneously occur majority vote of the shareholders can be used to select new members. = Terms on the board limited 10 5 years, multiple non-consecutive terms possible ~ Shareholder Voteslimits om the authority of the board ‘A majority vote of shareholders is required to > Approve/Reject construction of new buildings on the property ‘A 4/5s vote of shareholders is required to = Sell land = Buy land :xpel a shareholder for non-payment + Amend the shareholder agreement Directives for the Board, + The intent of the agreement is to promote use of the camps, the board should work towards open access & extend every effort to ensure