Silver Ridge Homeowners Association, Inc.

Annual Meeting Minutes

January 27, 2003

• President Basil Ibenyenwa called the meeting to order at 7:05 PM. It was determined that a quorum was present and the Agenda was approved as distributed.
• President Ibenyenwa welcomed everyone to the meeting and introduced himself, Vice President Bonita Martin, and Association Manager Laurence Smith. Secretary/Treasurer Charles Bautz was absent.
• President Ibenyenwa proceeded with a neighborhood Status Report.
• Acquisition of Association insurance to protect the Board and all homeowners from liability,
• the elimination of real estate directional signs at the front entrance
• the installation of the “No Soliciting” sign,
• cleaning out of the first detention pond,.
• Vice President Martin gave the financial report for the neighborhood indicating a year-end balance of $3,314.24. Each homeowner in attendance was given a copy of the 2003 budget.
• Vice President Martin indicated that the major goals for 2003 included the restoration of proper operation of the Silver Comet Trail gate, the cleaning out of the second detention pond, painting of the fence, improvement in the consistency of neighborhood appearance, and a 100% collection rate.
• ACC Chairman Matt Gataky presented a report on the activities of the Architectural Control Committee. He indicated that the main goals of the Committee were to maintain uniformity, consistency, and curb appeal of the homes in the neighborhood, and to protect and enhance the value of each homeowner’s investment. Few violations have been noted, and the main thrust of the Committee for the spring is to improve the appearance of side and back yards. At the conclusion of Chairman Gataky’s report, Dania Aponte agreed to join the Committee as a replacement member.
• Three homeowners were nominated from the floor to replace outgoing Board member Ibenyenwa. They were Tavares Chambers, Shannon Frith, and Dale Indergaard. Those present voted in secret ballot for the election of Mr. Frith. Mr. Frith joins current board members Martin and Bautz to form the three-person Board of Directors. Officers will be elected at the first Board meeting of 2003.
• Questions were raised about the current Covenants and By-laws. Outgoing President Ibenyenwa agreed to provide a copy of anyone who did not receive one at closing.
• There being no further business, the meeting was adjourned at 8:05 PM.