1. 2015 Ada Moorings Condo Association Annual Member Meeting January 22 nd 2015 7:30PM

2. Agenda 1.Quorum Confirmation – Confirmed 55/151 homeowners represented 2.Mark Fitzpatrick – Ada Township Parks 3.2014 Year In Review a)Front Entrance Replacement Completed! b)Ada Moorings Road Committee is born May 2014 c)Phase 1 Road Repair Completed! 4.Ada Moorings Road Committee Update 5.2014 Financial Performance a)Income Statement b)Balance Sheet 6.2015 Planned Budget Review 7.New Board Member Vote 8.State Condominium Act Vote 9.Open Discussion Items from the Homeowners

3. Ada Township Parks

5. 2014 Year In Review Front Entrance Upgrade Completed! – Joint agreement between all 5 associations working together as one unit to manage expenses resulting in a front entrance that looks great and should require very little maintenance for years to come. – Project included the demolition of the brick walls, removal of the large tree in the center island, debris removal, masonry material and labor charges for the new columns, limestone caps, LED lighting, sign, new fencing, grading, mulch, and seeding of grass areas. – The project commenced in June and along the way there were some changes made to the plans including using the existing footings from the original walls (a $1500 savings), drop the silt fencing and tree protection (not needed anyway), leaving the flags in their current location, and using grass seed instead of the more expensive Hydromulch to finish the project to mitigate higher costs.

6. 2014 Year In Review – The grand total cost of the project: Summit Landscaping: $66,658.00 Electrical work: $1,300.00 New flags: $202.00 Excavator rental: $281.00 LED flag lights $361.00 _____________________________ $68,802.00 – Front Entrance Committee completed the long awaited Front Entrance Renovation Project and came in on budget at $300/household. – In 2015, there are tentative plans to extend the berms and add landscaping at the far edges to provide additional privacy for homes that are more visible as a result of the recent changes. In addition, there are plans to paint the gatehouse this spring/summer.

7. 2014 Year In Review Phase 1 Road Repair Completed! −In 2014, the multi-association Ada Moorings Road Committee completed Phase 1 of our multi-year road improvement program. The project came in under budget and the savings are being carried forward to Phase 2 to help keep dues down in 2015.

8. 2014 Year In Review Website: – www.adamooringscondoassociation.org www.adamooringscondoassociation.org Facebook – Homeowner started page and is an excellent communication tool for neighbors on various topics Mid-Year Newsletter

9. Road Committee Update AMRC Joint Road Easement & Maintenance Agreement – Signed and implemented in May 2014 by all associations. – Comprised of 1 member of each association as appointed by each individual board annually. – Responsible for road maintenance (i.e. crack sealing, pot hole repair), road replacement, snow removal and application of ice melt. – Each association contributes equally to the budget based on percentage of homes in each association. AMCA & Villas currently have 66.23% (151/228 homes). – 2015 AMRC Budget reviewed and approved in November 2014

10. Road Committee Update Neighborhood Road Replacement Plan – Break neighborhood down into 5 distinct areas – Phase 1 Complete! – In 2015, the AMRC is planning to proceed with Phase 2 of the Road Improvement Plan, which includes full-depth replacement of roads from where Phase 1 stopped down Thornapple Club Dr past the intersection with Thornapple Club Ct, including all of Jacaranda Circle and Thornapple Club Dr. – This will be an approximately two week project in early summer. These sections of roads will be closed for 3-5 days. Cars will need to be parked outside of the Phase 2 project area during these times. – We will do our best to communicate details as the project approaches. We hope to have the back entrance open when the road is closed. We appreciate your patience and understanding as we address these deferred maintenance issues and invest in our infrastructure.

11. Road Committee Update Area 1 – 2014 √ Area 2 – 2015 Area 3 – 2017 Area 4 – 2019 Area 5 – 2021

12. Road Committee Update AMRC Financial Review

13. 2014 Balance Sheet

14. 2014 Budget Performance

15. AMCA Budget Performance

16. 2015 Planned Operating Budget

18. New Board Member Election Thank you to the following exiting board members for your years of service! John Eck Jim Sprich Returning Members Chris Appie Chris Beckering Sean Lewis Jeff Yost Bob Ayers - Villas Volunteers/Nominations for 2 Open Positions – Gabe Hartman & Missy Meighan volunteered and were unanimously approved

19. State Condominium Act Vote Jan 2014 Michigan State Condominium Act was updated to include the requirement for “an association of co-owners with annual revenues greater than $20,000.00 shall on an annual basis have its books, records, and financial statements independently audited or reviewed by a certified public accountant” Estimated Cost is ~$800 - $1,000 for CPA audit. Current audit performed by Villas homeowner. We may opt out of the requirements on an annual basis by an affirmative vote of a majority of our members. Vote – A yes vote is to opt out of the requirement for an independent CPA audit of our financial records for 2015 – Vote was approved by majority (not unanimously) to opt out of the requirement for 2015.