Annual Shareholder Meeting

July 5, 2025 11:00 a.m.

South Well House Lawn

Trustees: Present: Joe Twist - President, Mary Doster - Treasurer, Eric Rasche-Huynh - Vice President, Doug Petrovich - Trustee, Bruce Ottenweller – Trustee, John Chaput - Trustee. Absent: Fran O’Connell - Secretary

AGENDA

Meeting called to order at 11:10 a.m.

Trustees were introduced. New Michago members were introduced, Eric Wendling and Mike Dwyer.

It was moved, seconded and approved to accept the 2024 minutes as distributed.

The Treasurer's report was given by Mary Doster. After review and discussion, it was moved, seconded and approved to accept the Treasurer's Report as presented.

Projects, Roads and Grounds discussion: In general, the road conditions are good. Repairs made to Sunset and North Surfside. Still getting quotes for trench drains on Toboggan Road. Seasonal rainstorms will dictate if we need more road material brought in. 2026 road repairs to include Furman Drive and South Surfside Drive.

Community well: John Chaput gave an update on the community well, all seems OK. There were some comments about fluctuating pressure but everything still seemed normal. John and Doug updated the lower well house including a new metal roof, painting it and adding fire department fittings. They also plan to structurally reinforce the upper well house hopefully this fall. A water line and solar lights have been installed at the entrance to Michago. New water supply line to be installed at bulletin board later this fall.

Special thanks to Doug Petrovich and John Chaput for all their maintenance work on the roads, etc. and to Cathy Petrovich for her beautification efforts.

Michago Building Committee: The MBE by-laws require approval from the building committee prior to any building or exterior renovations. The committee currently consists of John Chaput, Doug Petrovich and Stewart Gulliver. It was moved, seconded and approved that all interior renovations that meet Claybanks township permit requirements have blanket approval by the MBE building committee.

The new Michago Internet Site is www.michago.com. It has information regarding Michago and you can ask questions or make suggestions there. Check it out.

Annual Dues proposed for 2025-2026 are:

Improved Lot: $300 (unchanged)

Unimproved Lot: $150 (unchanged)

Refuse: $150 (unchanged)

Water: $175 (unchanged)

It was discussed that a 5-year plan to build reserves is going in the right

direction. The proposed dues for 2025-2026 were moved, seconded and approved.

11. Short Term Rentals: The Board presented a summary of their research, information and issues regarding short term rentals in many communities. After lengthy discussion, questions and comments from everyone the Board presented their proposal for the update to the by-laws. It was then moved, seconded and approved to split the board proposal into two separate Proposals. Proposal 1 clarifying what “from time to time” definition applies to all members as of 7/5/25 a maximum of 10 rental weeks per year, not including immediate family and other Michago members and those who purchase after 7/5/25 a maximum of 4 weeks per year again not including immediate family and other Michago members. Proposal 2 would add a 3-year waiting period following all future sales in Michago before renting. Renting to immediate family and other Michago members is allowed in the first 3 years following a sale.

After additional discussion, a concern was raised that the membership did not have a copy of the Proposals in writing. The Board agreed to provide the Proposals in written form no later than Monday July 7^th and members could change their vote if desired no later than Friday July 11^th. Following more discussion the votes were held. One for Proposal 1 and a 2^nd for Proposal 2.

The results were –

Proposal 1 – 57 yes and 7 no

Proposal 2 – 42 yes and 22 no

Michago by-laws require a 2/3 yes vote for any change to the by-laws therefore 44 yes votes are needed for any change (2/3 of 65). Following the meeting Proposal 1 is an approved change and Proposal 2 is not pending any vote changes prior to Friday July 11^th.

The final tally of votes by 6:00 pm EDT, July 11,2025 on Proposal 1 and Proposal 2 were-

Proposal 1 – 56 yes and 6 no

Proposal 2 – 45 yes and 19 no

As of the final vote on July 11,2025, Proposal 1 and Proposal 2 received the required 2/3 majority votes were approved as amendments to the Michago Beach Estates Bylaws.

12. Trustee Election: There were 4 expiring terms, and 7 candidates submitted their names, Dee Dee Cyze, Darby Dwyer, Fran O’Connell, Bruce Ottenweller, Doug Petrovich, Eric Rasche-Huynh and Bret Tate. Each candidate was introduced and shared their thoughts on why they wanted to serve on the board. A vote was taken. The following candidates were elected to serve on the MBE Board for the next 3 years.

· Bruce Ottenweller

· Fran OConnell

· Doug Petrovich

· Eric Rasche-Huynh

13. Member discussion/topics

Cathy Petrovich asked everyone to verify their mailbox information and to empty their mailboxes if they haven’t done so recently.

As of the meeting there was one mailbox available for purchase but it has since been sold. Cathy also mentioned that the Post Office no longer delivers down Toboggan or on Surfside. Doug built a drop off spot in the upper well house where the Post Office now drops off packages, etc. so remember to pick them up there.

Bill Dieschbourg commented that Michago Builders is still active and

they have first right of refusal when a property comes for sale.

The meeting adjourned at 2:10 pm and everyone headed for the hot dogs!

Respectfully

Sally Twist for Fran OConnell

Following the adjournment of Annual Meeting, new Board of Trustees met to determine officers for the upcoming year:

President: Joe Twist

Vice President: Eric Rasche-Huynh

Treasurer: Mary Doster

Secretary: Fran OConnell

Director-Grounds Doug Petrovich

Director-Water John Chaput