INASMUCH AS Forest Lake is an artificial lake created by the damming of surface water and,

INASMUCH AS Forest Lake of Florence, Inc. owns or has an easement over that portion of the lake west of Highway No. 103 and,

INASMUCH AS Forest Lake may be used only portionately by its owners and,

INASMUCH AS Forest Lake of Florence, Inc. wishes to grant management and supervision responsibilities for the use of the lake waters to the Forest Lake Homeowners’ Association, provided, however, that nothing herein contained shall be construed as to prevent Forest Lake of Florence, Inc. from exercising its own authority if conditions so warrant in order to preserve, protect and maintain the lake, dams, structures, access to, use of, and management and supervision of the lake water known as Forest Lake. Now, therefore,

1. FOREST LAKE OF FLORENCE, INC. does hereby grant to Forest Lake Homeowners’ Association the authority to manage and supervise the private use of the lake known as Forest Lake of Florence by enforcing the following restrictions: Only Forest Lake of Florence, Inc., its shareholders, officers and directors, and the members of Forest Lake Homeowners’ Association shall be permitted to use the aforedescribed portion of Forest Lake.
   
   
2. All watercraft using the western portion of the lake shall display an identification sticker issued and approved by Forest Lake of Florence, Inc. which shall be non-transferable; the identifier shall be modified periodically. The Forest Lake Homeowners’ Association executive standing committee shall issue the identifiers without charge but shall assure that no more than two identifiers are issued to each household or property owner who is a member of Forest Lake Homeowners’ Association. In addition, each identifier shall be prominently displayed on the vessel in use on the lake.
   
   
3. The Forest Lake Homeowners’ Association, Forest Lake of Florence, Inc., members of the association, or any officers or directors, as well as the executive standing committee of Forest Lake Homeowners’ Association shall promptly notify the proper governmental authorities whenever it shall appear to them that unauthorized parties or persons are using the aforementioned private portion of Forest Lake.
   
   
4. The Forest Lake Homeowners’ Association shall be responsible, in association with the property owners generally, to appropriately maintain and protect the cleanly appearance of the said portion of the lake and shoreline.
   
   
5. This Grant of Authority is to encourage the private use of the lake for Forest Lake Homeowners’ Association and their guests for recreation, fishing, boating, and the quiet and peaceful enjoyment of the lake and no use inconsistent with this Grant of Authority shall be permitted.
   
   
6. Forest Lake Homeowners’ Association will cooperate with and will assist Forest Lake of Florence, Inc. in the maintenance and repair of dams which hold the waters creating Forest Lake of Florence, Inc.
   

This Grant of Authority is effective immediately and shall continue indefinitely so long as Forest Lake Homeowners’ Association conducts its business in accordance with the provisions of this Grant of Authority and further so long as Forest Lake Homeowners’ Association acts consistent with its primary purpose of insisting that the waters of Forest Lake shall be used for the private recreational use of the members of Forest Lake Homeowners’ Association.