Meeting Minutes

April 27, 2008

BOARD MEETING MINUTES

Board of Directors Present:

Marguerite Elia, President

Kimberly Harbison, Treasurer

Alvina Tzang, Secretary

Member(s)/Guest(s) Present:

None

WELCOME:

A regular meeting for the Park River Oak Estates Homeowners Association was called to order at 1:00p.m. at the Clubhouse.

FIRST ORDER OF BUSINESS-APPROVAL OF February 17, 2008 MINUTES:

The minutes of the meeting held on February 17, 2008 was previously submitted to all board members for review via e-mail. All board members present approved the minutes as presented.

SECOND ORDER OF BUSINESS-FORCLOSURE (APN# 031-1470-046-0000):

APN# 031-1470-046-0000 owed association dues since January 2007, an amount in excess of $2,700. All members present voted in favor of foreclosure.

Let it be known that on April 28, 2008 it was resolved by a majority of directors in executive session, to initiate foreclosure of the assessment lien recorded by the Association against the following property: APN# 031-1470-046-0000.

THIRD ORDER OF BUSINESS-THE YEAGERS LITIGATION

The President provided each board member with a copy of the legal complaint prepared by attorney, Tom Fier. Said complaint has yet to be filed with the Sacramento County Superior Court. Further investigation into their original grant deeds revealed that the Yeagers in fact purchased their two properties located within our gated community approximately three years after the Association’s CC&Rs were in place (August 1995). The HOA was established in July 1998 and the Yeagers acquired their two properties in October 1998. The HOA was previously misinformed of the Yeagers’ purchase date by past community members. Our attorney has obtained a copy of the 1998 grant deed.

FOURTH ORDER OF BUSINESS-ANNUAL MEETING PREPARATION

The HOA annual meeting is scheduled to be held in November 2008. In preparation for the annual meeting, we will need to select Inspectors of the Elections. Election Rules that were sent out to each homeowner by mail last year will be published on the Association’s official website. Additionally, we will be inviting homeowners to nominate themselves for office. The President is authorized by the Board to contact and invite numerous specific homeowners to become a member of the Inspectors of the Elections committee. The Inspectors committee will be the same individuals as in the Nominating Committee.

FIFTH ORDER OF BUSINESS-MAINTENANCE & OTHER UPKEEPING ISSUES

- Doorbells—Kimberly Harbison will be inspecting damaged doorbells and determining the number of doorbells that need to be replaced. Some homeowners have already replaced their damaged doorbells.

- Podo Carpus trees— Some of the Developer’s 2005 trees were planted too close to the new townhouses and underneath short awnings, which may cause problems in the future. The plan is to have those trees removed in phases, possibly starting next year, especially after they outgrow their sites.

- Terminix—All members voted in favor of renewing our contract with Terminix for another year until April 2009.

SIXTH ORDER OF BUSINESS-FINANCIALS

Ginger was late in preparing 1099 documents and getting the annual report to our tax accountant, therefore, we might be facing tax penalties this year.

SEVENTH ORDER OF BUSINESS- PROPERTY MANAGER INTERVIEWS

The Board will be interviewing two prospective companies: Landmark and Sacramento Management Co. Inc. (represented by Peggy Hart). An interview with Peggy Hart is currently scheduled for May 3, 2008 at 11:00a.m. at the Clubhouse. Marguerite will also schedule an interview with Landmark in May.

EIGHTH ORDER OF BUSINESS- RENTALS

The Clubhouse can be rented for a flat fee of $50. Residents may now also rent up to ten (10) chairs at a flat rate of $5 per chair. However, residents will be liable for full damages caused to the rental property. Approved with an unanimous vote.

NINTH ORDER OF BUSINESS- CC&R UPDATES

The Board will meet after the property manager interview to review and update the current CC&R.

ANNOUNCEMENTS

None.

NEXT SCHEDULED MEETING:

Tentatively scheduled for early May at the Clubhouse subject to the availability of all board members.

ADJOURNMENT:

Meeting was adjourned at 2:30p.m.

Minutes prepared by: Alvina Tzang