Board Meeting

January 5, 2006

112 Nashboro Greens

6:30 PM

Meeting Number 8

Attendance: Alan Botnik, Jim Curley, Terry Emery, Jeff Nelson, Fran Oroson, Gary Petersen

Alan Botnik opened the meeting. Fran Oroson reminded everyone that if they have corrections to the minutes they should let her know immediately so the minutes can be changed. Gary Petersen made the motion that the December 2005 minutes be approved as written and Terry Emery seconded the motion, all approved.

Jim Curley presented the Agenda for the January 18, 2006, Association Meeting to be held at the Southeast Branch of the Nashville Library located at 2325 Hickory Highlands Drive at 6:30 pm. Terry Emery made the motion that Jim conducts the Association Meeting after Alan introduces the Board, and shows proof of notice of the meeting. This motion was accepted and Jim will conduct the meeting.

The Board will need to present a report on 2005's accomplishments. The Homeowner's Association has been in office since May, and this will be the first Association Meeting, so there will be no minutes from a previous meeting.

Jim suggested that we gather as many proxies as possible from homeowners who will not be able to attend the meeting. To have a quorum we will need to have at least 23 homeowners voting either in person or by proxy. It was agreed that a homeowner and a board member would count all votes.

Gary Kerner has written to the Board and Jim and requested 15 minutes of floor time at the Association Meeting. It was agreed that he would be allowed time just like all the other homeowners. However, no one will be able to dominate the meeting time as we will have to end the meeting by 7:45 pm per the library's request.

Jim reported that Gary called him and was rather demanding, stating he intended to bring his attorney to the meeting. Jim advised him that would be okay and that we would also have legal council. Jim advised Larry Sakes, CPA, and Frank Mondelli, Attorney-at-Law, would be present for this meeting. These two individuals will be able to answer any questions either the Property Manager or the Board are not able to answer. It was also requested that we have a security guard present.

Jim was asked whether or not our reserve fund was sufficient. He reported that it was "okay", but should be better. Alan distributed a "Condominium/PUD Questionnaire" used by lending firms. An insufficient reserve can result in a lending firm's refusal to accept a mortgage application; thus making our condos saleable only to cash purchasers. In addition to lending firms requiring sufficient reserves, they also frown on investors owning multiple units within a sub-division. The Greens does have investors owning more than one unit. To correct this, the CCRs will need to be changed. Jim reported it would cost around $500 to have the CCRs changed and recorded. To have the CCRs changed would also require a vote from the homeowners.

Old Business:

Street Name Change and New House Numbers: The street names have been officially changed to Nashboro Greens, Nashboro Greens Court and Nashboro Greens Way. New street signs have been ordered and should be installed before the Association Meeting on January 18, 2006. Alan presented a proposal for numbers on a 5x16 reflective green and white plaque. These plaques are attached with glue and would cover any hole made by the numbers we currently have. The estimated cost for these plaques would be $12 per unit or $1,080. Gary made the motion Jim Curley Properties order these plaques and Alan seconded the motion. Motion was accepted by all.

Greenvale Bond: Alan reported that the fence Greenvale started has not been completed, and no shrubs have been installed in the common area at the top of the hill. Alan also discovered there was no Bond attached to Greenvale. Jim said he had a name for Alan to contact to do some more investigation into this matter.

Update Directory: This should be a property manager responsibility. Fran has sent the information the Board has to Leigh, and she is checking to see if it matches with what the Board sent. Fran will try to keep an updated directory, supplied by Leigh, in the Minutes Book.

Architectural Committee: It was decided that we don't really need an Architectural Committee. All requests for changes should be directed to Jim Curley Properties and he can let the Board know about them.

New Business:

Issues: Jim requested that the Board not included him on e-mails until the Board has come to a decision. Our e-mails back and forth among ourselves should just stay among ourselves.

Requests from homeowners should go directly to Jim Curley Properties. The Board is not in the business of property management that is why we hired Jim. This point will be made known at the Association Meeting.

Street Lights: Jeff Nelson brought the subject of additional street lights. There is a security issue at the top of the street. It was decided that the Board and Jim Curley Properties should drive through the community after dark and make recommendations about where additional lighting should be installed. More discussion will follow on this subject at the February meeting.

The next Board Meeting will be February 2, 2006 at 6:30 PM.

Minutes submitted by, Fran Y. Oroson Secretary/Treasurer