TIMBERVIEW HOMEOWNERS ASSOCIATION Mountain Village, Colorado. Meeting Minutes of May 31, 2013

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1 TIMBERVIEW HOMEOWNERS ASSOCIATION Mountain Village, Colorado Meeting Minutes of May 31, 2013 The Timberview Homeowners Association convened a membership meeting at 7:15 PM on Friday, May 31,2013 at the home of Board President Mike Fitzhugh (Lot 2). Frank and Linda Bell also were present representing Lot 3. A phone conference was established for other members but none participated. Those present formed a basic quorum under the By-Laws. The meeting was properly noticed by ASAP Accounting and Payroll Services, and such notice is attached hereto. The following agenda items were discussed: 1) The minutes of the HOA meeting of November 7, 2011 were approved. 2) Election of Officers - A motion was made by F. Bell and seconded by M. Fitzhugh to approve a slate of officers for the upcoming year including: Mike Fitzhugh - President Brad Miller - Vice President Frank Bell - Secretary The motion was approved unanimously. ASAP Accounting and Payroll Services will continue to be retained to provide financial and notification services. 3) Association Finances were reviewed and a current P&L statement prepared by ASAP is attached. One late account (Bell) was discussed. The problem appeared to be a lost bill and payment was submitted to ASAP. The Association has cash assets of $. 4) Tree Removal- Potential costs for dead tree removal on commons was discussed. Telski has performed some work adjacent to commons but more may need to be done. President Fitzhugh stated that he would contact a landscaper to obtain more precise costs and was also authorized to move ahead if in the opinion of the landscaper any dead or dying trees posed a threat to persons or property. 5) Additional potential projects were discussed including a mechanical sweeping of the driveway and parking area sometime during the fall of 2013, and the possible future need to patch and/or seal the blacktop parking and driveway area. No specific authorizations were made. 6) Letter to TMVOA A motion was made by Bell and seconded by Fitzhugh to draft a letter to the Telluride Mountain Village Homeowners Association directing TMVOA to 1) comply with the By-laws and appoint a representative for lots 5,6,7,8 and advise the Timberview HOA accordingly; and 2) dean up the lots they own to include removal of numerous lit-bars" and other markings that are no longer necessary. Bell will draft the letter.

2 7) E Maii Notifications - A motion was made by Fitzhugh and seconded by Bell to authorize the use of electronic mail for the purposes of meeting notifications and other matters of HOA business. The motion was approved unanimously. Hearing no further business, the meeting was adjourned at 7:47 PM.

3 Timberview HOA NOTICE OF MEETING OF MEMBERS :00pm TO THE MEMBERS OF THE TIMBERVIEW HOA: This shall serve as formal notice of the Meeting of the Members of the TIMBERVIEW HOMEOWNERS ASSOCIATION. To be held at 7:00 PM MST on Friday, the 31st of May 2013 at 304 Adams Ranch Road Unit #2, Mountain Village, CO., Please take further notice that members who are unable to attend in person will be able to attend via an operator assisted conference call, as follows: Dial: Conference ID code: * You will then be directed to the conference call. Attached is a Directed Proxy form with space for comments if you are unable to attend either in person or via teleconference. Please be sure to get your proxy either to ASAP, another owner, or a Board Member so we can be assured a quorum in order to perform Timberview HOA business. Thank You. If you have any questions, please feel free to contact us at: Timberview HOA c/o ASAP Accounting and Payroll Services, Inc. P.O. Box 2710 Telluride, CO hoa@businessasap.com

4 Timberview HOA A COLORADO NONPROFIT CORPORATION AGENDA FOR MEETING OF MEMBERS May :00PM MST Meeting Location: 304 Adams Ranch Road Unit #2, Mountain Village, CO., Order of Business: (a) (b) (c) (d) (e) (f) (g) Roll call; Proof of notice of meeting; Approval of minutes of prior annual meeting; Approval of 2013 Budget-Financials; Election of Directors; Unfinished Business; New Business Adjournment of Meeting

5 3:37 PM Timberview HOA, Inc. 05/23/13 Accrual Basis Profit & Loss Prey Year Comparison January through December 2013 Jan - April 13 Jan - Dec 2012 Income Operating Assessments Assessment Income 2, , Total Operating Assessments 2, , Total Income 2, , Expense Accounting Bank Service Charges Insurance Expense Snow Removal 1, Tax Preparation Total Expense 1, , Net Income 1, , Page 1 of 1

6 3:36 PM Timberview HOA, Inc. 05/23/13 Balance Sheet Accrual Basis As of May 23,2013 May 23,13 ASSETS Current Assets Checking/Savings WF Checking Total Checking/Savings Accounts Receivable Accounts Receivable Total Accounts Receivable Total Current Assets TOTAL ASSETS LIABILITIES & EQUITY Equity Retained Earnings Net Income Total Equity TOTAL LIABILITIES & EQUITY 14, , , , Page 1

7 4:01 PM Timberview HOA, Inc. AIR Aging Summary As of May 23, /23/13 Current > 90 TOTAL Bell-Cook TOTAL Page 1