Board of Directors Meetings

CHARDONNAY COUNCIL OF CO-OWNERS, INC.
ANNUAL MEETING
FEBRUARY 23, 2005
ELKS CLUB, COLD SPRING, KY.

President Bill Frambes called the meeting to order at 7:10 PM. He introduced Cold Spring Chief of Police, Rick Sears, who read a proclamation
from the Mayor of the City, Mark Stoeber, proclaiming February 23, 2005 as Chardonnay Condominium Association Day in the City of Cold Spring.

Dave Munro of Towne Properties verified that each owner received on or about February 3rd, notification of this meeting.

In attendance were board members, Chuck Gerhardstein, Ned Barnes, Jim Smalley, Barb Culp and Bill Frambes. Representing Towne Properties were George Hope, Dave Munro and Sara Reckers.

The reading of the minutes of the previous annual meeting was waived since all homeowners received a copy. Motion was made, seconded and passed that the minutes be approved.

Reports:

Management - Mr. Dave Munro presented the following figures for 2004.
Assessment $268,511.00
Operation Expenses $263,746.00
Reserve Expenses $ 14,233.00
Reserve Balance S 92,300.00

Mr. Frambes highlighted many of the accomplishments made by the board in their first year.

*Completed the transition from Fischer
*Updated the Welcome Book
• Changed the dumpster pick-up days to better accommodate residents
• Painted the clubhouse and tinted the clubhouse windows
*Changed names on door bells and mail boxes for the Terrace bldgs
*Purchased new hot water heater in the clubhouse.
*Replaced air conditioning compressor at clubhouse
*Had Fischer complete installation of dry fire system in bldg. 8-9-10.
*Had swimming pool test probes reinstalled for better testing of water
*Replaced auto chlorine pump for swimming pooi
*Started putting timers on chandeliers in Terrace buildings to save the
association $2000.00 - $3000.00 annually in electricity and bulb costs
*Seeded the common areas
*Started the process of asking Cold Spring to maintain our streets
• Asked and received approval for the city to pay electric bill for two street lights on Pooles Creek Road
*Bought new treadmill for Exercise Room when old one broke
• Landscape Committee planted lots of bulbs for spring blooming
• Appointed an Architectural and Maintenance Committee *Swimming Pool Committee has purchased new chairs and table for our pool area
*Generic permits drawn up by the Architectural and Maintenance Committee, make it easier for residents to make improvements without coming to the Board as long as they adhere to the permit requirements
• Created some new resolutions
• Invested $60,000.00 from Reserve Account in CD’s
• A flag pole light was installed
*A floodlight was install on the roof of the clubhouse to illuminate the sidewalk leading to the parking lot
• Free cable service is now in the clubhouse with rebates to Chardonnay.
• Our monthly newsletter is delivered to each resident, costing us nothing
• Mr. Munro helped in getting back property taxes erroneously paid on common areas
• We have a full-time telephone outside the clubhouse
• A flag, pole and stand for the clubhouse was donated by the DAV through Daryl Moore
• Social Committee bought new tables for the clubhouse and hosted many fun events
*The entrance way to Chardonnay was adjusted somewhat to allow better visibility to oncoming traffic
• Request Fischer to plant trees behind Buildings 8, 9 and 10 and they did it *Bought light bulbs in bulk to save money
*Requested Fischer to address water problems behind Building 10 and they fixed it
• Replaced swimming pool pump
• Acquired a credit card at no cost to better handle bill paying *Ken Allen and Ken Mueller repainted our entrance sign and light poles around the clubhouse and gazebo
• Set 2005 budget with no increase in fees

The floor was opened for nominations for the Board positions. There were none and nominations were closed.

The meeting was open for discussion on the proposed Amendment to the
Master Deed limiting the number of leased condominiums in our community.
Chris Gulinello spoke against the amendment. Kathy Frambes and Celeste
Harrison spoke in favor of the amendment.

It was determined at this point that a quorum was present allowing a legal vote on this issue and the board of directors.

The three candidates for election, Gerri Kortekamp, Darvl Moore and Ned Barnes were introduced and given a couple of minutes to speak.

A short break was called to collect the ballots for counting.

Don Baxter was formally thanked for painting the lines in the “No Parking” zone of the clubhouse parking lot

Pat Malloy was thanked for her efforts to get our “Sharing Library” underway.

The Chairpersons of each Committee were introduced:
Betty Barnes - Welcome Committee
Diane Harmeling - Landscape Committee
Kathy Frambes/Helen Lehkamp - Pool Committee
Mary Gerhardstein - Social Committee
Alan Hahn - Architectural and Maintenance Committee
Bill Frambes - Finance Committee

The floor was open for questions and comments of general interest of our entire community.
Awards were presented to:
Adelene Mullins for her many contributions to our community at zero cost
Chuck Gerhardstein for his ability to fix or build just about anything needed.
Barb CuIp for her service on the Board.

The Ballots revealed Ned Barnes and Gerri Kortekamp will serve on the Board for a two-year term.

The Master Deed Amendment passed 127 in favor, 13 against and 26 owners did not vote. The amendment needed 125 votes in favor to change the Master Deed.

Door Prizes went awarded:
1st Prize - I free month of maintenance fee - Ken Allen
2nd Prize - Gift Certificate to O’Charley’s - Betty Geiman
3rd Prize - Gift Certificate to The Roadhouse - Dwain Bowling

There being no further business, meeting was adjourned.

Barb Culp
Secretary

In a brief meeting of the Board following the meeting, the officers for 2005 will be:

President - Bill Frambes
Vice President - Jim Smalley
Secretary - Gerri Kortekamp
Treasurer - Chuck Gerhardstein
Member at Large - Ned Barnes