ARTICLE I

Name

ARTICLE II

Purposes and Objectives

To provide for the care and maintenance of all Club property, including Club houses, buildings, structures, appurtenances and other grounds, parks, dams, beaches, lakes, streams and waters;

To supervise recreation and sports, boating, bathing, fishing and all types of sports and athletic activities which may be engaged in Within the boundaries and jurisdiction of the Club;

To supervise and cooperate with all committees and auxiliaries representing and being a part of the Club organization;

To promote and perpetuate the standard and tone of the community;

To formulate, adopt and enforce rules and regulations;

To promote health, welfare, recreation, indoor and outdoor athletic events and entertainment;

To promote sociability and good fellowship between and among Club members; and

To do any and all things necessary appropriate or advisable incident to and for the best interests of the members of the Club.

ARTICLE III

Members

For purposes of this Section, Taunton Lake is defined as all that area encompassed by the Taunton Lake sides of Breakneck Road, Hinchman Road, Centennial Dam, Centennial Avenue and Hopewell Road and in addition, all real estate formerly the property of the Taunton Lakes Company and the house and property owned by the Larsen family that was granted use of Taunton Lake in their deed (the tract of land across from beach and west side of Fairview Road).

a. pays assessments and charges incurred during the period of ownership (including any and all arrears accrued by, or which arose during the period of ownership by, predecessors in title) in accordance with these By-Laws and with the Protective Covenants governing the Taunton Lake community, including but not limited to those created by the Taunton Lakes Company, a predecessor in title to the Taunton Lakes area; and

b. adapts his or her mode of occupancy to the existing natural environment of the Taunton Lake community; and

c. accepts in good faith the obligation to conserve and foster to the fullest extent the natural characteristics of his or her property, the neighborhood and the general Taunton Lake area; and

d. abides fully by the terms and conditions set forth in the Protective Covenants; and

e. abides by the rules and regulations as promulgated by the Board of Trustees and by these By-Laws, as amended.

The consequences of losing ones good standing status shall mean that the members privileges in the Club are terminated and except as provided for hereinafter with respect to the failure to pay the Annual Assessment, a member can only lose good standing status upon a two-thirds vote of a quorum of the Board of Trustees.

Effective as of the May 2015 Annual Meeting, this section shall read:

The Board of Trustees shall consist of nine members. All members of the Board of Trustees must be lot and/or dwelling unit owners at Taunton Lake and members in good standing. At each annual meeting, three members of the Board shall be elected for a term of three years.

a. to appoint delegates to the different associations of which this Club may be a member, or for the purpose of conferring with any association or club respecting any matter in which this Club may be concemed;

b. to make rules for the conduct of the members of the Club and for their use of the Clubs property;

c. to fix and enforce penalties for the violation of the By-Laws and rules and regulations;

d. to remit penalties for offenses against the By-Laws and rules and regulations;

e. to prescribe rules for the admission of strangers or guests to the privileges of the Club;

f. to make, alter and amend the rules and regulations for their own government, and fix and enforce penalties for the violations of such rules and regulations; and

g. to prescribe additional duties for any of the officers, in addition to those herein set forth.

The Club shall, upon the request of any lot and/or dwelling unit owner or of any mortgagee, furnish to such lot and/or dwelling unit owner or mortgagee, a certificate in writing, signed by an officer of the Club, setting forth whether the Annual Assessment(s) have been paid. Such certificate shall constitute conclusive evidence of the payment of the Annual Assessment(s) therein stated to have been paid.

In addition to any other remedies provided for herein, any lot and/or dwelling unit owner who shall fail to pay the Annual Assessment within thirty (30) days after same shall become due and payable may be suspended from all privileges of the Club. If said dues shall not be paid within thirty (30) days after notice and demand for same from the Secretary, the Board of Trustees may by resolution, declare his or her privileges in the Club terminated, and he or she will lose "good standing" status with its attendant consequences.

(a) The Board, at its option, shall have the right, in connection with the collection of any assessment or other charge which remains unpaid following its due date, to impose interest thereon at the rate per annum assessed by the New Jersey Division of Taxation, as listed at http://www.state.nj.us/treasury/taxation/interest.shtml (or such other web page at which such information may be posted in the future), compounded monthly, starting from due date of the assessment or charge. At the end of each year following the due date, any assessment or charge, and any penalties and interest related thereto, that remains unpaid will become part of the balance on which interest is charged.

(b) The Board, at its further option, shall have the right, in connection with the collection of any assessment or other charge which remains unpaid following its due date, to impose a one-time penalty of ten percent (10%) of the amount unpaid, effective as of 120 days following the due date. Said penalty amount shall be added to the amount unpaid and the total thereof shall become the initial balance on which interest is charged pursuant to this section of the Bylaws.

(c) In the event the Board is unable to collect the unpaid Annual Assessment or other assessment from the member, the latter shall grant a power of attorney to any holder of an institutional mortgage covering a lot and/or dwelling unit so that said mortgagee, at its election and without notice to the lot and/or dwelling unit owner, shall have the right to make any payment or expenditure and to take any action which the lot and/or dwelling unit owner shall have made or taken or which mortgagee deems advisable to protect the security of its mortgage. In the event that the Board shall effectuate collection of said Annual Assessment and charges by resort to legal counsel, the Board may add to the aforesaid Annual Assessment and charges reasonable attorneys fees and accrued interest.

ARTICLE IX

Conflict; Invalidity

ARTICLE X

Notice