BY-LAWS OF LAKE FOREST PARK CORPORATION PROPERTY OWNERS Revised by the LRPCorp.

Board January 10, 2012 (to be voted on and adopted in its entirety at the Annual Meeting, June 23, 2012 ARTICLE I: NAME AND PURPOSE 1.01 Lake Forest Park Corporation. Incorporated under the provisions of Chapter 181 of the Wisconsin Statutes and formed for the purpose, in addition to those set forth in the Articles of Incorporation, of protecting the provisions of the various deeds and current abstracts of title and platting restrictions of record which apply to this Subdivision, increasing property values, originating and completing projects for the betterment of the community and the Subdivision, and promoting and advancing the best interests of the property owners in the Lake Forest Park Subdivision, located in Door County, Wisconsin. Lake Forest Park Subdivision is defined as that subdivision recorded in the Office of the Register of Deeds of Door County. 1.02 In addition to the foregoing, this corporation has been organized for the purpose of preparing, submitting and urging the adoption of zoning ordinances containing restrictions as to use, light, air, and view of all of the property owners within said Subdivision. ARTICLE II: MEMBERSHIP AND DUES 2.01 Any person owning real estate fronting on Lake Forest Park Road shall be eligible for membership in this corporation and each said owner or spouse shall be entitled to one vote per lot or out lot or fraction of either thereof upon payment of annual dues. 2.02 The membership dues shall be reviewed and assigned annually by the Board of Directors. ARTICLE III: DIRECTORS AND OFFICERS 3.01 The management of the affairs of the Corporation shall be vested in a Board of Directors, which Board shall consist of the President, the Vice-President, the Secretary and the Treasurer, together with three other members of the Corporation elected as hereinafter provided. All Directors must be members in good standing, with dues currently paid. 3.02 All officers and directors shall be elected by the membership at the annual meeting and shall serve until the next annual meeting. All elected officers of Lake Forest Park Corporation shall stand for election to the same office for a maximum of three consecutive years. 3.03 The President, Vice-President, Secretary and Treasurer may hold terms for one year and may be elected for two successive terms. The directors shall also be elected at the annual meeting and they shall serve for a staggered three-year term.

ARTICLE IV: MEETINGS 4.01 The annual meeting of the corporation shall be held during the months of June/July at a time and place to be determined by the officers, and the Secretary or other officers designated by the Board of Directors shall give notice of such meeting at least ten days prior thereto. Other meetings of the corporation may be held by giving a similar notice issued by the Board of Directors. The Board of Directors may dispense with the ten-day notice in the case of an emergency, but shall notify the members as soon as reasonably possible at a special meeting brought under this provision. The notice shall contain an agenda and only the business listed on the agenda shall be taken up at such special meeting. Note: A meeting may consist of a web conference, a telephone conference or a physical meeting. 4.02 The officers and directors shall meet upon the call of the President or any three members of the Board of Directors upon at least twenty-four hours notice to all members of the Board. The notice for such a meeting will be written, if possible, but may be verbal in the case of an emergency. 4.03 In the case of an annual meeting or a special meeting of the members, 15% of the membership units (i.e. one vote per household, etc, as specified in Article II) in good standing shall constitute a quorum. At any meeting of the Board of Directors, a majority shall constitute a quorum. 4.04 No proxy votes will be permitted at any membership or Board of Directors meetings. ARTICLE V DUTIES OF OFFICERS AND DIRECTORS 5.01 The officers and directors shall have such duties and obligations as are customarily performed by such officers. In addition thereto, the President may appoint such standing and special committees as may be required or desirable from time to time. ARTICLE VI VACANCIES 6.01 If any vacancies shall occur among the officers or on the Board of Directors, the Board of Directors may fill such vacancies at any regular or special meeting. ARTICLE VII FINANCIAL RESPONSIBILITY 7.01 The corporation shall not borrow any money in the name of the corporation or pledge any assets thereof without a majority vote of the corporation at the annual meeting or at a special meeting called for that purpose.

7.02 All funds of the corporation shall be kept in a proper bank account and disbursements therefrom shall be made in such manner as may be directed by the Board of Directors. The Board of Directors may require the Surety Bond of any officer handling funds of the corporation, in which case the premium therefore may be paid out of the corporations funds. ARTICLE VIII AMENDMENTS 8.01 No amendment to these By-Laws may be made at any annual meeting or at any special meeting called for that purpose unless a majority of the members is present and unless a majority of the members votes in favor of such an amendment. A SYNOPSIS OF ARTICLES OF INCORPORATION Number of Directors: Seven (7). Membership Provisions: All owners of property in the Subdivision are eligible for membership. Persons holding equitable rights as mortgagees, lien holders or lessees shall not be eligible for membership. Membership shall be by application made to the officers of the corporation. If a member ceases to be an owner of property, his membership shall automatically cease and terminate. There shall be but one class of membership. OTHER PROVISIONS: Meetings of members and meetings of the Board of Directors shall be as provided in the By-Laws. Voting rights shall be those set forth in Section 181.16 of Wisconsin Statutes. This corporation shall be without stock and not for profit and no member, officer or director shall profit from the dissolution of the corporation or shall be entitled to share in the proceeds of any dissolution. The distribution of assets, upon dissolution, shall be as provided in Section 181.51 of the Wisconsin statutes or in accordance with the By-Laws, if a differing provision is therein set forth.