MANAGER’S REPORT

02/13/2009

Update – Units for sale or rent

#602 Under contract – no details
#806 Sheila Reeder relocating to unit #202…owner V. Loucks moving out
#1006 Tenant Rochelle Proctor is vacating 2/27/2009
#1603 Rented to Rita Schnyder by Watson Corp. for one year

Administrative

1. Clayton & McCulloh seminar and trade show 2/21/09 @ Prime Osborne Center
2. Becker & Poliakoff CA Leadership Conference 3/14/2009 @ Plaza Resort & Spa
in Daytona Beach
3. We received two excellent insurance proposals from Brown & Brown and Advanced Insurance Underwriters…10% less than last year
4. CD at Compass Bank matured…earned $1,147.94 interest for 8 mos. APY 31/4%
Remaining CD’s at Compass Bank mature 3/7/2009…$55,107. each. APY 31/4%
Where to place funds and obtain a decent return?????
5. Recommend lien be placed on unit #1001 owes $1845; foreclosure for 204 & 1205.

Building & Property

1. Unit #501 replumbed by Steeg Plumbing.
2. New ductwork & registers run to/in Management Office. Airflow 4x as before.
3. Cracked bathroom wasteline from unit #703 damaged unit #503 bathroom ceiling.
Plumbing repair $875. drywall in #603 $275. drywall in 503 $461
Tile repair $129 Wet areas in #504 wall and floor??
4. Roof inspection by Centimark: roof is at the end of its useful life. We may buy a
little more time with some remedial work and repairs. No quote but T/M basis. No
estimate. The new roof system recommended: TPO mechanically attached roof-
ing system: $134,092
5. Water turnoff to upper half of building on Tuesday morning, 2/17/09 to move valve
in unit #1505.
6. Ron replaced a 4 ft. section of waste line that was cracked in storage room. He painted the Club Room and replaced and re-directed the exhaust fan in Spa to the outside southside of the building.
7. Intron responded quickly to spalls found on the balconies of units 201, 804 and 1103
8. Remediation started on unit #1305.
9. Unit #906 has water stain / wet spot on dining room wall vicinity of main drain.