ANNUAL HOMEOWNERS MEETING MINUTES Lake Villas Condominium Association of Apartment Owners

Tuesday, March 19, 2013 7:00 pm At the Lake Villas Club House

(a) Roll Call Taken at 7:20 (b) Proof of Notice (c) Establish Quorum/Call Meeting to Order Meeting called to order with a quorum of 53.85% at 7:16 PM (d) Welcome by President and Introduction of the Current Board of Directors (e) Approval of 2012 Annual Meeting minutes The 2012 Annual meeting minutes were approved (f) Reports of Officers President Randy covered the major projects completed in 2012 which included the roofing project, pool heater and spa cover. Treasurer Galen discussed the 30 year plan strategy and covered the two operational accounts. Operational account is made up from HOA dues which cover operational expenses, services, and administrative. Reserve account is made up from funds transferred monthly from the operational budget. The reserve account is where the assessment money goes until it is paid to the vendors. Galen covered the reserve plan and compared 2012 to 2013 explaining where monies have been moved from and where they are to be spent. A discussion on the average homeowner assessment plan was presented. The amount has not been set yet but a range of the assessment was determined to be between $2000.00 and $2600.00 per unit depending on the final cost of the community painting and upgrades. The assessment will be collected in two payments. (g) New Business 2013 Projects Cabana, Gate & Painting Chris Smith covered the cabana update plan. To include new flooring in the main area and kitchen, create a sitting viewing room off of the kitchen. The bathrooms will be painted and the workout room will be updated with paint, rubber flooring and a new fan.

Gate Pete presented three options for the gate. Replace just the gate controls Replace the gate control and the drive mechanism Replace the entire gate to include the controls, drive mechanism, and the gate Geese Community dog to herd geese off of the property has been proposed. Pool The pool will be opened from May 1st until November. Dock The dock will be open this year April 1 st and the opening day each year will be based on the lake level.

(h) Selection of Inspectors of Election (i) Nominations and Elections of Directors A motion to keep the existing board members and add new members Chris Smith and Deno Maedgen was passed with a majority vote by the meeting attendees. (j) Unfinished Business (k) Adjournment Meeting adjourned at 9:00 PM The email address to reach the Lake Villas board is lakevillasboard@gmail.com. The community website is http://lakevillascondo.com/. The password is lake3000.

NOTE: Any homeowner who wishes to have an item discussed and acted on must submit a written request to have the item added to the agenda. Written requests must be received by Kappes Miller Management one week before the meeting each month in order to be placed on that month's agenda. You can email your item requests to Clinton Oakland at clinton.oakland@kappesmiller.com.