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CONDOMINIUM ASSOCIATION

MINUTES OF THE BOARD OF DIRECTORS MEETING
OCTOBER 20, 2011

CALL TO ORDER
The meeting was called to order at 7:05 p.m. by Sharon Drobka, President.

MEMBERS PRESENT
Sharon Drobka President
Michael Villalovos Vice President
Paul Hill Director
Jin Kim Director
Morris Lane Director

MEMBERS ABSENT
Pamela Rohlfs Treasurer
Anne Omori Secretary

ALSO PRESENT
Joanne Peña Horizon Management Company
Jack Davidson On-Site Maintenance

OPEN FORUM
There were no homeowners in attendance.

MINUTES
MOTION (MV,JK) to approve the minutes of the September 20, 2011 board meeting and Executive Session, as submitted. The motion carried.

TREASURER'S REPORT
As of September 30, 2011, there was $416,293 in operating cash, and $2,317,243 in reserve funds.

Delinquencies. The Board reviewed the status of delinquent accounts.

Reserve Investments. MOTION (ML,JK) to invest $180,000 in two $90,000 Certificates of Deposit for twelve months, and to re-invest the Certificate of Deposit coming due November 2, 2011 for twelve months. The motion carried.

Resolution to Record Lien. The Board reviewed the Notice of Delinquent Assessment (pre-lien letter) sent to the owner of the property identified as Assessor's Parcel Number (APN) 7359-033-036. The owner, as of the date of this board meeting, has not requested internal dispute resolution (IDR). A majority of the board members voted to authorize Horizon Management Company or other designee to record liens for the amount of any delinquent assessments, late charges, interest and/or costs of collection (including the fees and costs of preparing the lien against the owner of the property, fees for coordinating enforcement of the lien between designees, and attorney's fees), if IDR is not requested and payment in full is not received by the Association by 5:00 p.m. on November 22, 2011. Thirty (30) days after recordation of the lien, if the delinquency persists, the Board authorizes its designee to enforce the lien. A copy of the resolution will be kept on file. VOTE: Drobka, Hill, Lane, Kim, and Villalovos in favor, Omori, Rohlfs absent.

Resolution to Record Lien. The Board reviewed the Notice of Delinquent Assessment (pre-lien letter) sent to the owner of the property identified as Assessor's Parcel Number (APN) 7359-033-071. The owner, as of the date of this board meeting, has not requested internal dispute resolution (IDR). A majority of the board members voted to authorize Horizon Management Company or other designee to record liens for the amount of any delinquent assessments, late charges, interest and/or costs of collection (including the fees and costs of preparing the lien against the owner of the property, fees for coordinating enforcement of the lien between designees, and attorney's fees), if IDR is not requested and payment in full is not received by the Association by 5:00 p.m. on November 22, 2011. Thirty (30) days after recordation of the lien, if the delinquency persists, the Board authorizes its designee to enforce the lien. A copy of the resolution will be kept on file. VOTE: Drobka, Hill, Lane, Kim, and Villalovos in favor, Omori, Rohlfs absent.

MOTION (MV,ML) to accept the September financial report. The motion carried.

MAINTENANCE REPORT
Jack Davidson provided a status report on current maintenance projects.

• Two pines on the east side of the complex have been removed at the request of a South Bayport owner. These two trees will be replaced with trees of a different species.
• California Steamers has been asked to submit a bid for replacing bad wood on the Jacuzzi gazebos and courtyard gazebos. A competitive bid will also be obtained.
• California Steamers will remove and replace a section of raised concrete in front of the garage at unit #120.

Tree Trimming. MOTION (ML,MV) to approve the proposal submitted by Valley Crest for Fall tree trimming for $23,637. The motion carried.

MANAGEMENT REPORT
2012 Operating Budget. The Board reviewed a revised draft of the 2012 operating budget. MOTION (ML,MV) to approve the 2012 operating budget with no increase in dues. The motion carried. The Board also reviewed a draft of the disclosure letter, which will be distributed to the members with the budget and reserve study.

Year-end Review. MOTION (MV,ML) to approve Creighton Tevlin's proposal for performing the year-end review for a cost of $1,400. The motion carried.

Water Treatment Service. The Board reviewed a proposal from W. C. Services for treating the domestic water to reduce corrosion. The Board asked that Bruce Stanley be invited to make a presentation at the November meeting.

FHA Approval. The Board reviewed information with regard to the process for obtaining FHA approval, but declined to pursue the matter.

Correspondence. The Board received a letter from an owner with regard to second-hand smoke from the unit next door. MOTION (JK,PH) to consult with legal counsel as to whether or not the Association should involve itself in this issue. The motion carried.

NEXT MEETING AND ADJOURNMENT
There being no further business before the Board, the meeting was adjourned at 8:10 p.m. The next meeting is scheduled for November 15, 2011 at 6:30 p.m. in the Clubhouse.