SILVER RIDGE HOA

MEETING OF THE BOARD

MINUTES

10 JANUARY 2004

The meeting was called to order at 12:50 P.M.

In attendance were Bonita Martin, President; Charles Bautz, Vice-President, and Shannon Frith, Secretary/Treasurer.

The minutes of the 17 November 2003 were approved as submitted.

TREASURER’S REPORT

The ending cash balance as of 30 November 2003 was $xxx. Shannon reported that the $210 of deposits in the financial statements represented the Association’s deposit with Greystone Power. Per Laurence Smith, this would likely be refunded within six months. There was no charge for landscaping services, as promised by NMA. Only one homeowner paying quarterly dues remitted funds for in November – three homeowners had not.

ARCHITECTURAL CONTROL COMMITTEE REPORT

No Report

OLD BUSINESS

Notices for the Association Annual Meeting were distributed on January 7 (copy attached). The notices included proxy forms and the proposed amendment to the Association’s By-laws.

Bonita reported that Southern Traditions Landscaping had submitted a proposal for 2004 services. Their monthly fee for 2004 is $300, a $25 monthly increase from 2003.

Bonita reported that she had received a proposal from Senearl’s Lawn Care Service for a lower rate than Southern Traditions. Shannon moved that Bonita contact Senearl’s and have them provide within two weeks a formal contract to include a la carte services for pine straw and seasonal color. The motion was seconded and passed.

NEW BUSINESS

The Board discussed the agenda for the annual meeting.

The meeting was adjourned at 1:40 P.M.