February 02, 2010

Minutes of

Meadowood Townhomes Homeowner’s Association

Annual Meeting

February 2, 2010

President Dale Kasofsky called the Meeting to order at 7:12 PM.

Roll call and introductions were made. The homeowners present or represented by proxy were units # 125, 126, 127, 141, 162, 163, 164, 169, 170, 171, 176, and 179. Also present were Property Manager Ted Miller Jr. and Attorney Mike Wise.

Mr. Miller provided proof of notice of meeting.

It was determined that there was a quorum present and the meeting began.

The minutes of the February 03, 2009 meeting were read and upon motion, second the minutes received unanimous approval.

Property Manager Ted Miller Jr. presented the 2009 Financial Report. Upon motion, and second the Financial Reports were unanimously approved.

There was no officer’s report given.

There was a brief management report given.

There was no discussion under Old Business.

Under new business two resolutions were discussed as follows:

a.       There was a motion and second to approve a resolution to establish accounting and crediting receipt of delinquent and non-delinquent partial payments from property owners. The resolution passed by unanimous vote.

b.      There was a motion and second to approve a resolution facilitating the meeting place and voting of the Board of Directors. The resolution passed by unanimous vote.

The property manager then presented the 2010 budget. Upon motion, and second the 2010 budget was unanimously approved.

The 2010 assessment rate was discussed and upon motion second and unanimous approval it was decided to retain the current assessment rate of $ 535.00 per quarter.

There was an election of members for the Board of Directors. Upon motion, and second Richard Parent, Shannon Curry, and Dale Kasofsky were unanimously elected.

The meeting was adjourned at 8:10 P.M.