MINUTES OF ANNUAL MEETING OF THE HILLSBORO LE BARON
CONDOMINIUM ASSOCIATION, INC. HELD ON JANUARY 27, 2011, 3:00 P. M. AT
THE ASSOCIATION'S CLUBHOUSE

Present from the Board of Directors were Sam Bowling, President; Jack Mahony, Vice President; Ken Koppenhoefer, Secretary; Fred DeJacma, Treasurer, Roman Bartkiw, Director; Dick Bergman, Director and Pauline Murdock, Director. Present from Consolidated Community Management, Inc. was Mark Palmiotto, Property Manager.

PROOF OF QUORUM

Mark Palmiotto reported that there were 41 property owners and 14 proxies properly represented at the meeting. Sam Bowling declared that there was not a quorum of owners present. Mark Palmiotto reported that four (4) owners voted to establish a Reserve Fund and thus it failed owner approval for the year of 2011. Sam Bowling declared that there was a quorum of the Board present and proceeded on procedural Board action as follows,

APPROVAL OF MINUTES

Ken Koppenhoefer motioned to approve the minutes of February 6, 2010; seconded by Jack Mahony. All directors voted in favor of the Motion and it carried.

TREASURER'S REPORT

Fred DeJacma, Treasurer gave a report of cash balances in the Association's bank accounts.

ANNOUNCEMENT OF THE 2011 BOARD OF DIRECTORS

Sam Bowling stated that there were three open board seat open for election for 2011. Properly applying for the Board seats were current Board members Jack Mahony and Ken Koppenhoefer. Bob Stevens, an owner in the West Building, also properly applied as a Board candidate.

Since there was three board seats open and there were three candidates, Sam Bowling welcomed the three candidates to the 2011 Board of Directors.

Sam Bowling thanked Pauline Murdock for her service to the Board of Directors during 2010,

Sam Bowling presented Bob Stevens to the owners and Bob Stevens presented his reasons for wanting to serve on the Board and his goals for the coming year,

PRESIDENT'S REPORT

Sam Bowling discussed the current status of the Association's legal action regarding the rusting doors and the peeling railings. Sam Bowling reported the door action legal costs totaled $60,000 and the railing legal costs were $5,000 to date, Sam Bowling reported that the legal costs were currently being paid from the general operating account of the Association. However, an owner assessment may be necessary in the future when the actions are finalized and the total costs are known. Sam Bowling advised that proper owner notice would be given if an assessment were required in the future.

ADJOURNMENT

They're being no further business before the Board of Directors; the meeting was adjourned at 4: 15 P. M.