Board of Directors Meeting — June 2008

The meeting was called to order at 9:15 AM. In attendance were:

Board of Directors: Terri Melcher Nelson, Andrew Moriarty, Paul Polansky (arrived at 9:30 AM), Andy Sentgeorge, Mal Shah

Property Management and Guests

Sue Fallwell — Omega Property Management

The minutes of the May 16th meeting were approved as submitted (4-0).

The financial report was discussed. Sue informed the Board that the Progress Energy charges with the reference of 101 Abbeydale Ct, asked about in May, were mistakenly assessed to Highcroft. The charge was removed from Highcroft costs. The Board asked Sue to verify the two HOA printing charges for exactly $25.10 each, are accurate, and verify attorney fees for late assessments were passed to the homeowners. The financial report was approved (4-0) with Sue to verify above two items.

The board reviewed the recommendations from the ARC and made the following determinations:

• 1111 Tamworth Hill Lane – approved (5-0) with ARC recommended notes.
  
• 323 Millsfield Drive – Approved (5-0) with ARC recommended notes.
  
• 5406 Highcroft Drive – Approved (5-0) with ARC recommended notes.

The Board appointed Andy Sentgeorge the liaison to the ARC. Andy to discuss with the ARC about the adding estimated timeline (including start and finish dates) to the ARC Homeowner request form. Asked that the ARC be informed of general infracture notices sent to homeowners.

The Board asked for the Swim Team to be notified about the exposed ground wire in the concrete from the addition of the starting blocks. The Swim Team is to remedy the exposed wire by sealing from water intrusion. Asked the Pool Committee to work with Chase Pool Management to gradually replace the existing chaise loungers with a chair of higher quality. The Board approved (5-0) to allocate $3500 from reserves to purchase new chaise lounge chairs.

The Board discussed the issues of the path between Candia Lane and the swimming pool. Andy Sentgeorge and Andrew Moriarty will look into possible options as well as help with securing the proper engineering resources.

The Board approved (4-0) $650 for additional playground mulch.

The Board asked for quotes for a trumpet style fountain for the Millsfield pond. Tamworth Hill pond has some erosion at one end. Will monitor the situation and address when/if needed.

The Board reviewed correspondence sent to the association.

Andrew Moriarty signed abandonment plot submitted by the Town of Cary.

Board members to return with thoughts on the 5-year plan.

The next meeting was set for 15 August 2008 at 9:00am.

The meeting adjourned at 10:55am.