2015 Annual HOA Meeting Agenda Roll Call – Proof of Notice Camarillo Update – Moni McCoy Financial Update - Michael Pell – Treasurer Board Membership – Pete Williams, President Road Review – Pete Williams, President New Business

Roll Call – Proof of Notice Please be sure you signed in on the Roster / Ballot Sheets List all proxies you have brought to the meeting and show to an election judge Please put on a name badge Proof of Notice of Meeting Mailing list label file (42 mailed) Anyone not get a mailed notice and/or an email notice via the ‘all’ email list?

Camarillo Property Update Armando Camarillo filed bankruptcy in 2009 and relinquished the house to the mortgage holder ( now Bank of NY Mellon). CEHOA board recorded an updated lien on property in May 2014. Bayview Loan LLC, the servicing company for the senior lender on the property paid us $12,0006.66, which paid us assessments, penalties, and costs through June 2014. Bayview Loan LLC has also been paying property taxes. Some work on the property has been completed by Bayview to make improvement on property conditions. There has been recent work (it appears) to improve the property.

Camarillo Property Update Nothing has been paid since June 2014, and current amounts owed are were around $1099.00 (January 31, 2015). *Update. We forward a demand letter for this amount directly to Armando Camarillo in California on 3 February. We received a check from Mr. Camarillo in the amount of $1099.00 on 6 February. Bank has not proceeded with foreclosure proceedings until recently. Foreclosure Sale date has continued to be postponed. (Now set for 2/11/15). We are communicating with the law office representing the bank and Bayview Loan in the foreclosure process. At completion of foreclosure, we most likely will obtain payment in the amount of $660.00 to satisfy our Colorado “super lien” priority. Once a new owner is of record, they will be responsible for compliance with paying assessments and HOA covenants. For the record Camarillo’s current address is: 29783 Mammoth Lane, Canyon Country, CA. 91387 .

2014 Financial Review

2014 – Revenue Summary Budgeted income was $48,840 (37 @ $330 per quarter) Actual was over budget due to Camarillo collection of past due (from A/R) Except for home in bankruptcy, all owner dues were paid in full at end of 2014

2014 – Expense Summary Ended the year $3,594 under budget, with slightly lighter spending in road work and snow plow expense Excess funds collected in 2014 transferred to reserve fund in Jan of 2015 ($11,355) 2015 budget still $330 per quarter on all 38 homes (up from 37 in 2014)

2014 Actual vs Budget

2015 Budget

Reserve Fund The Reserve fund will be budgeted based on the revised 2015 budget. This results in a reserve transfer of $680 less than in previous years ($13,245 vs $13,925). The allocation of funds from the operating account to the reserve fund has been moved to Q4 in 2014. This is done to give the board flexibility in payments should operating expenses exceed budget by a significant amount.

Ratify 2015 Budget Unless there is a motion and vote to NOT accept the budget, the budget is deemed approved. This budget proposal was previously approved by the Board at the last Board Meeting.

2015 Board Membership Current Board Members with terms expiring: Michael Pell – Treasurer Pete Williams - President Chuck Aid - Secretary

Road Condition Update Pete Williams, President CHOA

New Business