Rules and Regulations Handbook Page 38 of 41
If a Lot is divided, created or remaining portion does not satisfy the provisions of
Section 2.1 (i), 2.1 (ii), 2.1 (iii), then that Lot and any portion thereof will have no right to
launch a boat onto, or moor a boat on, or operate a boat on Oswego Lake or exercise
any other Lake Privilege, including any right to use an Easement Area. This provision is
not intended to deny the exercise of a Lake Privilege by a Lot which satisfies each and
every one of the following criteria (i) in January of 1986 existed with less than 60 feet of
frontage, and (ii) in January of 1986 was improved with one single-family residence,
and (iii) in 1986 was paying assessments to LOC validly held stock in Oswego Lake,
and was exercising a Lake Privilege recognized by LOC and (iv) which was not and is
not since January 1986 hereafter subdivided, partitioned or otherwise adjusted or
divided.
2.2 Restriction. Property improved with zero lot-line subdivisions, condominiums,
apartments, townhouses, attached dwellings or other multi-family complex or attached
housing projects, shall not have Lake Privileges nor shall Lake Privileges continue to be
exercised or recognized with respect to such property during the period of such status,
improvements or use.
2.3 Easement Areas. If a Lot’s Lake Privileges may be exercised solely through an
Easement Area (see Section 3.2b), and if that Lot, including any portion thereof created by
or remaining from subdivision, partition or lot-line adjustment or otherwise, does not satisfy
the criteria of Section 2.1 (ii) above, then at the discretion of the Board of Directors of LOC,
the Lake Privilege or other access to Oswego Lake claimed by persons benefited by such
creation, or of the owners of the existing Lot from which a non-complying lot was created,
shall not be recognized and the Lake Privilege or other claimed access to Oswego Lake
may not be exercised for as long as such noncompliance continues.
2.4 Other Access. Except for access to Easement Areas validly created by deed pursuant
to the Master Conveyance subject to the limitations of Section 2.3, and except as permitted
by Section 2.1, no conveyance, easement, license, lease or similar privilege across any lot
or other property abutting Oswego Lake, LOC Property or privately held property shall be
recognized for bathing, boating or other aquatic purposes, or for visual or other shoreline
recreational purposes, or for any other use of Oswego Lake, even if it was to be exercised
by the holder of an otherwise valid Lake Privilege exercisable only through an Easement
Area. Any attempt to create such an access shall in the discretion of the Board of Directors
of LOC, in addition to any other remedy, result in non-recognition and no right to exercise,
for as long as such separate conveyance or access to Oswego Lake of both (i) the persons
benefited by such conveyance, easement, license, lease or privilege, and (ii) the owners of
the Lot or other property from which the conveyance was created or across which the
easement, license, lease or similar privilege purports to run.
ARTICLE III
3.1 Authorized Users. Lake Oswego Property and Lake Oswego Rim Property may only
be used by (i) a Holder of a Lake Privilege, subject to limitations of the respective Lake
Privilege, or (ii) the occupying lessee of the Holder’s lot subject to limitations of the
applicable Lake Privilege, provided however and only so long as (a) such Holder is a
shareholder in good standing in LOC, or (b) if applicable, the Holder or occupying lessee
exercising a Lake Privilege is a member in good standing in the applicable Easement
Association. If a lot is occupied by a lessee, only that lessee, and not the Holder, may