MANAGER’S REPORT

July 28, 2009

Units for sale

#603 $379,000 #1202 $375,000 #1801 $399,000
#806 $550,000 #1303 $455,000 #1806 $679,000
#1002 Contract #1306 $575,000
#1005 $365,000 #1404 $359,000

Units for rent

#205 #305 #1006 #1602

Administration

1. The date for the annual membership meeting has be set for September 22, 2009.
The first notice was mailed on 7/24/2009. Directors need to sign a statement
within 90 days of being elected that they read and understand the association’s
governing documents and pertinent statutes.

2. Another unit (#502) is a candidate for lien. Account turned over to attorney for
collection.

3. Recommend that the water leak issue be looked at by the Building Committee
and a process / procedure be initiated. ie. when a unit owner’s leaking pipes
damage the units below vs. when the pipe the association is responsible for
cause damage.

4. The reserve section of the next budget should attract close scrutiny. A reserve
study is needed OR proxy asking for less than full funding of reserves. Other
proxy issues need to be decided, for example, any amendments to the govern-
ing documents.

Building and property

1. There were several water leaks recently. Pin-hole size leaks in main supply line
of unit #1305 and #1103. This is the association’s responsibility. A leak in the
wall between the bathrooms in unit #1701. This is the owner’s responsibility.

2. The floor scrubber is a welcomed addition and works well although it cannot get
into corners and tight spots.

3. Lee & Cates installed 4 new glass panels in the east and west lobby areas. We
will be replacing fogged and etched glass a little at a time.

4. The valves and piping in the pool make-up tank and filtering package were renovated. This section had not been used for ten years for reasons unknown.

5. Four units are being renovated / remodeled: #1106 bathrooms and kitchen;
#1203 complete remodel; #1702 complete remodel; #1305 tile throughout and
limited kitchen remodel. Unit #704 was replumbed after recent leak in kitchen.