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CASA DEL SOL
BOARD OF DIRECTORS MEETING MINUTES

September 22, 2010

Joe Sheare called the meeting to order at 8:02 p.m. via conference call.

Participants: Joe Sheare, Louis Napoli, John Foulkes, Mike Bufano, and Igor Conev (Mann Properties).

Board Members Absent: Anne Giannelli and James McDonald

1. Reading and Approval of the Draft Minutes of the CDS Board Meeting of 08-25-10. A motion to approve the draft minutes of the CDS Board Meeting of 08-25-10 was made by Tom Bell and seconded by John Foulkes. The motion passed unanimously.

2. Financial Review: Mike Bufano reviewed the financial information. Mike made a suggestion to amend the “Bank of OC Money Market” title to include the fact that this money is building the association’s improvement fund. He also suggested we drop the CD entry (line 1070 of the General Ledger) as we have not had a CD in over 6 months. Mike suggested we add an “Accounts Payable (3010)” in the minutes listing, which indicates bills to be paid by the association.

a. Checking (1010, 1012) $ 23,883
b. Money Market (Improvement Fund (1080) $ 11,028
c. Accounts Payable (3010) $ 24,908
d. Accounts Receivable

i. Condo Fees (1310) $ 1,706
ii. Special Assessment (1330) $ 0

Mike and John suggested also that this section of the minutes should include the bills paid (from operating account 1012) since the previous Board meeting. The bills are listed below:

08/30/10 AP0000 1156 5,150.00 C/W BUILDING SERVICES POLE REPAIR PAYMENT
09/01/10 AP0000 1157 98.59 DELMARVA POWER 2144 1799 9999
09/01/10 AP0000 1158 395.71 FirePro ENCLOSED WIRING/PULL STAT
09/01/10 AP0000 1159 1,026.00 MANN PROPERTIES MANAGEMENT FEE 9/10
09/02/10 AP0000 1160 11,000.00 HANNA, KREMER & TILGHMAN MULTI PERIL INSURANCE
09/07/10 AP0000 1161 6,000.00 C/W BUILDING SERVICES PAYMENT
09/16/10 AP0000 1162 1,270.24 Town of Ocean City 13827-54958
09/16/10 AP0000 1163 2,381.74 BEACH BROTHERS, INC. Monthly Maintenance, Door Repair, 770 Building RAIN GUTTER Repairs
09/16/10 AP0000 1164 3,974.00 HANNA, KREMER & TILGHMAN CAP5165243 INSURANCE

3. Business of the Condominium:

a. Loan from Bank of Ocean City – Update. Igor Conev (Mann Properties) reported that he asked for, and received, an additional extension from the Bank of Ocean City to extend the draw period on the loan to October 14. Mike Bufano stated that the only requirement for extending the draw period is that such action be noted in the Board minutes, and that this suffices for the Bank of OC. Consequently, Mike Bufano made a motion to extend the draw period of the loan to November 30 if the need arises for a draw. The motion was seconded by Joe Sheare, and carried unanimously.

b. Condominium Insurance – Update – Joe. Igor Conev (Mann Properties) reported that a down payment of $11,000 was made on September 2 to Hanna, Kremer and Tilghman for the annual insurance premium, and an additional payment of $3,974 was paid on September 16. The balance, $24,908 will be paid on October 1. (See paragraph 2 above.)

c. Front Side Piling Repair – Update. Joe reported that the last group of pilings (at units 616, 622, 624, and 628), which were identified in the engineering assessment as requiring further investigation and which were to examined after the Labor Day weekend, have been repaired. This completes the piling project. We are now moving ahead with the parking lot resealing and resurfacing project. The initial down payment has been paid to the contractor.

d. Updates on Miscellaneous Repairs – Fence on East End of Building 600. Joe reported that on Saturday, September 18, several Casa Del Sol unit owners participated in the repairing of the fence. The volunteers were Joe and Robin Sheare, and John and Marcia Foulkes. Thanks also go to Curt Smith who loosened many of the old fence sections earlier in the week. Robin and Marcia quickly and adeptly removed the old sections of the fence while Joe and John procured the new fencing materials from Home Depot and installed the new sections. Anne Giannelli also pitched in with “supervisory assistance”. Photos will be posted on the website. The project took about 3 hours (including travel time for the supplies). The total cost to the association was $190.

e. Updates on Miscellaneous Repairs - Drain pipe on rear side of Building 770. Joe reported that the job has been completed by Charles Kinelski.

4. New Business. None discussed.

5. Old Business. Joe suggested that a reminder be given to the unit owners regarding the parking of trailers and other vehicles in the Casa Del Sol parking lots. The following excerpt from the association by-laws, which was included in the minutes of the November 18, 2009 Board meeting, is repeated below.

LIBER 599 PAGE 70
11. All vehicles belonging to an Owner, or to a member of an Owner's family or guest, tenant, or employees of an Owner shall be parked in the spaces provided, and no such vehicle shall he parked in such a manner as to impede or prevent ready access to any other parking space. The parking of trucks, commercial vehicles, boats and trailers, and campers is prohibited without the written permission of the Council of Unit Owners or its Management Agent. The Council assumes no responsibility or liability whatsoever for the loss or damage to any automobile or vehicle while parked on the premises. The repairing of cars or other vehicles on the premises is prohibited. The storing of any junk automobiles or vehicles of whatever nature shall be strictly prohibited, and automobiles without current license tags shall be considered junk storage. Any such vehicle stored or placed on the premises for a period exceeding forty-eight (48) hours shall be towed away at Owner's expense without prior notice to the Owner and with no liability on the part of the Council or its Management Agent.

6. Committee Reports. None discussed.

7. Violations. None discussed.

8. Adjournment. Having no further business, Tom Bell made a motion to adjourn the meeting, seconded by Louis Napoli, and carried unanimously. Adjournment was at 8:29pm.

NEXT CDS BOD MEETING (Proposed) – Wednesday, October 20, 2010, at 8pm.