Bridle Creek Home Owners Association Inc orporated !!! Association Report March 06, 2010 Annual Meeting

Bridle Creek Home Owner’s Association Agenda Ms. Youngman-Introduction of Trustees Presentation by Councilmen Lee Erickson & Bruce Geiger Presentation by Chesterfield Police Mr. Terlouw-Minutes of March, 2009 meeting Mr. Lewin -Treasurer Report Insurance Bridle Creek Resident Information Form Required names of all occupants MSD Payment and Project Maintenance Contract for 2010 Miscellaneous common ground issues Mr. Biondi-Recreation Facility Pool repairs-2009 Management company agreement thru 2011 Single Lifeguard and passes (tags) unchanged Swim Team Review existing rules and use of Recreation Facilities Mr. Terlouw- Bridle Creek By-Laws Changes made from original committee approval By-Law Updates made by current trustees Home Rental & Leasing per indentures New Website Paperless Future Mr. Bergesch-Nomination and election of 2 Trustees Open floor for resident concerns and comments

Bridle Creek Home Owner’s Association Recreation Facility Rules Identification Each Home owner will be provided a wrist band and Yellow tag Tags will be available on Opening Day at the Pool from the guard or Trustee/designee Guards will periodically check to see that attendees accompany or have a wrist band Guests Each Home owner is allowed 2 guests. Additional guests can be admitted for a $2.00 fee. Good Standing Only Home Owners who have paid the annual assessment will be provided a wrist band and be permitted to utilize the recreational facilities Locks When not in use the gates must be locked for the tennis courts and pools. We appreciate any assistance in periodically checking these locks.

Bridle Creek Home Owner’s Association Recreation Facility Rules

Bridle Creek Home Owner’s Association Recreation Facility Rules Wrist Band Rules apply same as pool

Bridle Creek Home Owners Association Inc orporated !!! By-law Recommended Changes Association Report March 06, 2010

Bridle Creek Home Owner’s Association From March 2008 Association Meeting…

Bridle Creek Home Owner’s Association Recommended Changes to By-laws Allow for Electronic Distribution of Notices (Section 3.2) Quorum and number of proxy accepted. (Section 3.2) Limit to Spending on by Trustees, to no more than 5% of annual budget, (Section 4.16 paragraph D. 2.) Bank Statement reconciliation signed by all trustees each month, (Section 4.16, paragraph D. 7.) Annual Audit the books (Section 4.16, paragraph D.7) Major R&R fund established (Section 4.16 paragraph D 5) Pool Rental agreements and policy for organized use (Section 5.2, paragraph F Associate Membership Fees for pool use (Section 5.2, paragraph D. 1) Proxy forms (Section 3.8)(add form as appendix) Specifically define rules on Boarding/ Rooming House

Bridle Creek Home Owner’s Association Explaining the Changes.. 3.1Association Meetings Recommended Change B.The Association shall review the proposed budget by November 01 for the upcoming fiscal year. An association meeting is optional depending on significance of the budgetary changes. Copies of the budget may be issued electronically or by USPS if requested. The budget shall be approved at the March annual meeting and remain in effect from that meeting until the next annual meeting By-laws B.There shall be a special meeting of the Association to be held in the month of September for the purpose of submission and approval of the annual budget.

Bridle Creek Home Owner’s Association Explaining the Changes.. Recommended Change 3.2 Notice of Meeting. A. …. shall be delivered electronically or by USPS mail to each Member. D. The Association also request the Lot owner provide an , if available, for means of electronic notification and distribution of information. 3.3Receipt of Notice Notices and assessments shall be sent to the association lot address. The association will not be required to track and mail notification outside of the lot address By-laws 3.2 Notice of Meeting. A.…. by depositing such notice, prepaid, in the United States Postal Service mail 3.3Waiver of Notice Any Member may waive, in writing, notice of any meeting of the Members, either before or after such meeting, and waiver of notice of a meeting of the Members shall be deemed the equivalent of proper notice. Attendance at a meeting by a Member shall be deemed a waiver of notice unless such Member attends for the limited and specific purpose of objecting to lack of proper notice

Bridle Creek Home Owner’s Association Explaining the Changes.. Recommended Change 3.4Quorum. Except as otherwise provided in the By-Laws, the presence of Members or their proxies representing thirty two ( 32 ) Lot Owners in the Association shall constitute a quorum at all Association meetings. Should a quorum not be present an operating budget (only) as submitted can be approved by majority present for purposes of continuance until a quorum can be established By-laws 3.4Quorum Except as otherwise provided in the By-Laws, the presence of Members or their proxies representing forty two ( 42 ) Lot Owners in the Association shall constitute a quorum at all Association meetings.

Bridle Creek Home Owner’s Association Explaining the Changes.. Recommended Change 4.16 D Treasurer. 2.Disbursements (added) A)The bank statement reconciliation document shall be checked and signed by all attending trustees at the monthly board meeting. B) No board member shall be permitted to make an off budget disbursement greater than 5% of the annual budget By-laws

Bridle Creek Home Owner’s Association Explaining the Changes.. Creation of Major Repair and Replacement Fund Recommended Addition 6. The Trustees shall maintain a Major Repair and Replacement (MR&R) fund as a part of the operating practices. This fund shall be maintained as for the sole purpose of providing emergency reserve monies for repair or replacement of major items with out the need for a special assessment of residents. The emergency fund will be maintained outside of budget from retained earnings (unexpended funds of previous fiscal year budget to expenditures.) Available monies will be transferred at the close of each fiscal year As a recommendation the fund shall be maintained at a level of 20% of annual budget. To utilize this MR&R fund requires a unanimous (5) vote of the Trustees.

Bridle Creek Home Owner’s Association Explaining the Changes.. Annual Audit Recommended Addition 8. All financial records, Association meeting minutes, and Trustee meeting minutes shall be subjected to an annual audit by a trained professional, independent of the board.

Bridle Creek Home Owner’s Association Explaining the Changes.. Pro-rate Associate Membership Fees Recommended Addition Associate membership fees shall be established on an annual basis by the board and may be pro-rated to attract partial season membership (e.g. $300 in May, $200 on July 1st etc)

Bridle Creek Home Owner’s Association Explaining the Changes.. Pro-rate Associate Membership Fees Recommended Addition Associate membership fees shall be established on an annual basis by the board and may be pro-rated to attract partial season membership (e.g. $300 in May, $200 on July 1st etc)

Bridle Creek Home Owner’s Association Explaining the Changes Recreation Facilities, Paragraph F. Organized Group Use Clarification on all points

Bridle Creek Home Owner’s Association Explaining the Changes.. Art VII. Rules and Regulations Paragraph 7.1 Rental of Property No Lot Owner may lease or utilize their residence for purposes of a boarding house. (Bridle Creek indentures have precedence over the Chesterfield ordinance which permits no more than 3 names on a given lease). Bridle Creek indentures state that homes can not be used as Boarding house, or rooming house purposes. These bylaws permit single person or single family use only. The Trustees shall have the unrestricted right to request action of eviction by any means necessary and after a 30 day warning period may invoke a penalty to the home owner. Legal fees shall be covered by the home owner and such cost shall constitute a lien against said lot until paid. The Trustees shall not be held liable for any damages