Seven Springs Owners Association

Minutes

February 21, 2005 Board Meeting

• Present: Patricia Swart, Ken Crowder, Roy Jewell, Pete Roybal, and the Agent-Mike Crowley. David Morar and Matt Maxwell were not present. The Agent will check with Matt Maxwell and David Morar to see if they intend to remain on the Board.

• There were three homeowners present; they discussed a couple of maintenance

items.

• The January 17, 2005 minutes were approved as submitted.

• The January 31, 2005 financial statements were reviewed and approved subject to audit. Payables were reviewed and checks were signed. Roy Jewell will consolidate some of the accounts. Roy Jewell presented a revised 2005 budget which included an increase in the assessments. After discussion the Board approved the assessment increase and the notice of increase will be mailed to all owners with an effective date of April 1, 2005.

• The Agent informed the Board that there were two units that needed sheet rock repairs.

• A bid has been requested for repairs to the floors in one unit.

• Reliant Security has added a courtesy second stop each night.

• Unit G-13 is ready for rent-up; Pat will contact a realtor who is familiar with the community to determine if he is interested in doing the rent-up.

• The Board accepted the adjusted settlement offer on the hail damage and the Agent will provide confirmation that the funds have been received which are approximately $100,000.00.

• The Agent was directed to send a couple of violation notices.

• The Agent will execute a couple of work orders for some maintenance items.

• The payment to Blade Runners will be held pending resolution of damage to bumper stops.

• Bids will be requested for exterior sewer clean out locations.

• Bids will be requested for the seal treatment of the playground equipment.

The next meeting is scheduled for March 21, 2005 at 7:00 PM.

In the Executive Session the Board discussed personnel matters and the delinquent accounts. The Board also reviewed copies of letters that had been sent to owners regarding violations.

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

Respectfully Submitted,

Mike Crowley-Agent for

Seven Springs Owners Association

THE MINUTES MAY BE POSTED ON THE WEB-SITE OR DISTRIBUTED PRIOR TO THE BOARD APPROVING THE MINUTES.