Seven Springs Owners Association

Minutes

October 15, 2001 Annual Meeting

Roll Call: 39 units were represented in person or by proxy.

The Agent presented proof of notice of meeting.

A motion was made and approved to waive the reading of the previous three year’s minutes. The minutes were approved without the reading.

Report of Officers: The Treasurer, Paul Drda, reviewed the year end, 12 month, financial statements. He commented on the insurance costs, the security costs and the pay-off of the mortgage on the G-13 unit. After the first quarter of 2002, the gas consumption costs will be reviewed in order to evaluate their impact on the budget. The hope is that the fees can be reduced.

Projects for next year include painting of the stair treads, a survey to see if members want to change the exterior color of the buildings in the next paint cycle and the soliciting of more people to participate on committees.

The proposed pet policy was voted on and finalized. Policy passed with a vote of 31 to 13 in favor.

The Governing Documents may be reviewed and updated in the 2002 year.

Pat discussed the purpose behind issuing new parking permits and mentioned that the association web site provides additional information relating to the association. It was mentioned that there is also an association HOT-LINE and revised Rules and Regulations had been mailed to all owners. New signs will be posted throughout the community designating parking areas.

Additional bids will be solicited for evaluating costs and alternatives to rebuild the south retaining wall along the frontage road.

Election of Directors: There were two open positions; Paul Drda and Brian Michael were nominated. The two nominees were elected to serve as Directors.

Unfinished Business: There was conversation regarding how to better control the improper placement of oversize items at the dumpster sites. It was asked that the handicap parking areas be more clearly marked. A couple of minor maintenance items were mentioned.

New Business: Members were reminded that, per City ordinance, the smoke/fire alarm certificates are to filed with the association every six months. Bids will be requested to extend the width of the existing speed bumps in an effort to slow traffic.

Adjourn: With there being no further business, the meeting was adjourned.

Respectfully Submitted,

Mike Crowley-Agent