Minutes are not official until approved at a subsequent Board meeting.

HERITAGE HUNT CONDOMINIUM I UNIT OWNERS ASSOCIATION

BOARD OF DIRECTORS MEETING

JULY 13, 2010

LOCATION: LOBBY OF 13891 BUILDING

I. Call to Order

The meeting was called to order at 2:00 p.m. by Ed Plummer, President. Ed welcomed Bob Elks, SCS, and introduced our new SCS community manager, Marck Rossy.

Also present were: Steve Verosko, Treasurer and Warren Miller, Assistant Treasurer

Kay Franklin, Vice President, was absent.

A number of residents were also present.

II. Approval of Minutes of May 11, 2010 Meeting

Upon motion by Steve Verosko, seconded by Ed Plummer, the minutes of the previous meeting were unanimously approved.

III. Reports of Officers and Board of Directors

A. Treasurer

Steve Verosko deferred to Warren Miller, Assistant Treasurer.

Warren reported that total Association assets as of May 31^st were $547,283. Included are Money Market funds of $44,113, CDs of $418,479, and $81,881 in checking.

Warren noted that renewed CDs are now earning 1.64% opposed to 3.97% earned in the past.

While we have a “Strong” financial rating, recent and future expenditures will be above average due to unusual expenses on repair to the buildings, upcoming engineering survey, and the annual audit.

B. President, Ed Plummer

Ed reported seven units currently for sale or lease. He reported that efforts are being made to complete a short sale of Unit A111. A request has been made that the Association agree to settle for less than the full amount of our lien (currently about $8000) and the Board has responded that it would consider a reduction of about 25% provided all mortgage and lien holders were making a similar concession. The HH HOA also has a lien and is involved in the negotiation. If the matter goes to foreclosure, our lien would likely be wiped out.

Ed reported that the HOA is in the process of conducting a federally mandated bi-annual survey of residents in Heritage Hunt to demonstrate compliance the age requirement of at least one person in each home being age 55 or over. HOA Management feels confident that we are in compliance.

IV. Report of Management – SCS

Marck Rossy reported that Evans Carpentry has completed all of the work in both

buildings required due to water leakage and damage.

Comcast has corrected a billing glitch which inadvertently caused the shut down of the phone lines serving the alarm system. (Following the conversion to Digital Voice, Comcast began mailing bills to our building telecom rooms, which are not suitable mail addresses and hence SCS didn’t get the bills.)

Notice has been received re: 2010 audit. Warren Miller said we do not yet have

the finalized audit from 2009.

The auditors provided a quote for the 2010 audit and Ed Plummer has signed an engagement letter for the services for next year.

SCS will seek HOA reimbursement for our prorated share of the HOA assessments for trash service.

Our trash/recycle contract with AAA Trash expires the end of Feb. 2011 – Ed Plummer will provide Marck with the bids we received in 2008 to facilitate SCS getting updated bids for trash/recycle needs

East Coast Fire Protection recently did a quarterly inspection. Marck will see if there is a formal report – Ed noted that ECFP may have made it available online without mailing us a copy.

V. Report of Committees

A. Building and Grounds, Ed Plummer reported for George Field.

Repairs are completed on water damage in Units A103, B112, and B113.

The new cleaning service began June 1. All should monitor work, notice any

defficencies and report to Ed Plummer or George Field.

Warren Miller showed two pieces of wood which were found in, and removed from, the underground drain pipe at the north end of Bldg. B.

Ed noted the worn condition of the non-skid paint on the concrete aprons at both building front entries. He will explore reconditioning or tiling of these areas.

Ed received a report from the owner of Unit A307 that the patio concrete sealer/coating is coming off. Ed noted that Lennar rebuilt this patio 2 years ago to correct a water leaks into the unit below and found that the waterproofing membrane had not been installed under the concrete. As the Chelsea model has unique weather exposure, the Board has decided to coat the patio with a product called Miracote, which should last longer than paint and provide added protection against water penetration.

Ed reported that the ceiling and insulation which fell in Bldg A garage was apparently the result of heat-related concrete expansion, causing anchor nails to pull out. Estimates for repair are being obtained.

B. Budget and Finance

Warren Miller noted that while our financial rating is strong, we have incurred one-time repair bills in addition to higher than estimated on-going

expenses which have resulted in a deficit in our year to date budget. In other words, we have paid out $13,000 more than we have received. Some carryover from last year has helped but we still have the rest of the year to go and have some substantial outlays coming up. Each year brings an increase in expenses which requires careful monitoring of outlay.

C. Legal and Covenants – no new issues.

D. Parties – Lucy Modrak reported the upcoming July 24^th Picnic.

VI. Unfinished Business – None

VII. New Business – None

VIII. Next Meeting – to be held Sept. 14, 2010, at 2:00 p.m. in the lobby of Bldg. A.

IX. Ed Plummer adjourned the meeting at 3:03 p.m.

Respectfully submitted by

Barbara Dunn, Secretary