1. December 8, 2009 www.indianbrookcondos.com Annual Meeting BL

2. Agenda 1. Welcome and Call to Order 2. Volunteer Committees 3. Indian Brook 2009 Goals 4. 2010 Operating Budget and Capital Projects 5. Salisbury Management, Inc. 6. Election 7. Questions and Open Discussion 8. Adjournment BL

3. Volunteer Committees Indian Brook Board of Trustees Scott Cellupica Deb Foley, Secretary Roland Janbergs, Webmaster, Babbler Editor* Brian Lachapelle, Chairperson* Flossie O’Donnell, Babbler Editor* Alison Sholock, Landscaping Committee Liaison Lily Zhan, Treasurer *Term expires 12/9/09 BL

4. Volunteer Committees Search Committee for Property Management Services Ron Reidy Brian Lachapelle Flossie O’Donnell BL

5. Lynne Janbergs, Chairperson Pat Baratta Mary McKeon Flossie O’Donnell* Alison Sholock Landscaping Committee Volunteer Committees *Resigning 12/31/2009 BL

6. Street Captains―Our Eyes and Ears BirchwoodVivian Cicuto DoyleLily Zhan LemanDick Ernst LilacLinda Cantilini RosewoodPat Baratta TurnbridgeMary Levey WeybridgeScott Cellupica Volunteer Committees BL

7. Indian Brook 2009 Goals 1. To lower operational costs through competitive bidding and negotiation with vendors 2. To implement the 2009 budget with minimum variance 3. To establish landscaping initiatives and implement landscaping projects 4. To implement approved capital projects 5. To seek new opportunities to maintain and improve our community BL

8. Goal 1–Lower Operational Costs Cost of Property Management Services Aug. 2009―Board establishes a Request for Proposal (RFP) for Property Management Services Sep. 2009―Search Committee is established Ron Reidy, Brian Lachapelle, Flossie O’Donnell RFP sent to 10 management companies 4 companies submitted proposals 3 companies interviewed by Search Committee 2 finalists presented to the Board of Trustees Salisbury Management, Inc. selected Nov. 16 at special meeting of the Board of Trustees BL

9. Salisbury Management, Inc. Adoption and use of state-of-the-art technology Condo Manager software Follow-Me phone system Effective and thorough management reporting Strong focus on customer service Leadership Competitive bid process for services Well-established company with long history in Central MA Excellent references BL

10. Landscaping Committee has a fiduciary responsibility to the community Entrusted with a large portion of annual operating budget Established a Request for Proposal (RFP) for landscaping services Approved by Board of Trustees Sent to 5 local companies Mandatory walk-throughs with vendors interested in bidding the contract Interviews: before, during, after walk-through Goal 1–Lower Operational Costs Cost of Landscaping Services FO

11. Rosado and Sons, Inc. selected as our new vendor for landscaping services Westborough, MA 21 years in business Highly interested (motivated) to have Indian Brook join their portfolio of customers Work with similar properties 1-year contract Goal 1–Lower Operational Costs With special thanks to Lynne Janbergs… FO

12. Last season’s vendor, Groundskeeper, insisted on both landscaping and snow contracts going forward Been down this path before… Put the work out to competitive bid 6 bids received, including Groundskeeper Same rigorous process of Research Walk-throughs Interviews Goal 1–Lower Operational Costs Cost of Snow and Ice RJ

13. Maximum Grounds, Inc. selected as our new vendor for snow and ice removal services Upton and Hopkinton, MA 25 years in business “2-hour zero ice and snow tolerance” Magic, sand, and salt when needed 1-year contract Goal 1–Lower Operational Costs RJ

14. Results, Results, Results Competitive Bidding Savings Management Company removed – too public Landscaping Vendor removed – too public Snow and Ice Vendor removed – too public Insurance Company removed – too public TOTAL SAVINGS$41,222 BL

15. 2009 Income$441,820$441,699-$121 2009 Expense$440,094$445,626-$5,532 1.2% 2009 Reserve$229,000 Goal 2–Implement Budget with Minimum Variance BL Projected BudgetYear End Variance

16. Landscaping Committee budget Separate landscaping services from tree services Tree maintenance is a specialized area Identify short- and long-term projects Make recommendations to the Board of Trustees Monthly walk-throughs with landscaping vendor Inspect lawns, flowers, shrubs, trees Identify problems, discuss alternatives, request work estimates for proposed solutions Goal 3–Establish Landscaping Initiatives and Projects FO

17. Landscaping: 2009 Review Major project with major impact: severe pruning of 141 burning bushes, 13 viburnums Magnolia pruning Clean up of storm damage Resident plantings Must be approved by the Board of Trustees In the ground is owned by the Association FO

18. Landscaping: 2010 and Beyond New landscaping vendor: Rosado & Sons, Inc. New tree vendor: TBD More perennials, fewer annuals Establish a multi-year plan for maturing shrubs and trees close to buildings Establish and execute a plan for Trees at the property’s perimeter Tree “lines” within the property Long-term plans For example: refurbish islands and peninsula beds FO

19. Goal 4–Implement Approved Capital Projects Capital Projects Implemented in 2009 Weybridge paved by T& K Paving; board member negotiated price reduction Painting completed: 17-20 Turnbridge 70 post lanterns purchased Engineering design specifications (paving, roofing, STP) RJ

20. We’ve got a start… Let’s grow it! The Babbler www.indianbrookcondos.com NSTAR Energy Conservation Program Indian Brook Book Club Goal 5–Improve Our Community Seek opportunities to maintain and improve our community at no cost or low cost FO

21. 2010 Operating Budget and Capital Projects RJ

22. Preparing the 2010 Budget Board walked the entire property 2 Sundays Received suggestions from the Landscaping Committee Decisions on capital projects based on those that We are legally required to implement Enhance safety Maintain/increase value of individual homes RJ

23. Capital Projects Maintain the value of our property Many deferred for too long RJ

24. Indian Brook Condominiums 112 units on 27 acres of common area 28 buildings on 7 streets ~84% owner occupied 3 developers Leman, Doyle, Weybridge6/87 – 7/91 Turnbridge, Birchwood 11/90 – 2/94 Rosewood, Lilac 7/94 – 9/96 RJ

25. Capital Projects Planned for 2010 Perimeter reclamation removed – too public STP removed – too public Lampposts removed – too public Deck staining removed – too public Walkway repairs removed – too public Painting/carpentry removed – too public TOTAL$143,700 RJ

26. Capital Project: Roof Replacement May 2009: hail storm damages most Indian Brook roofs Flo-Dell, local exterior restoration/ roofing contractor retained by Board of Trustees Insurance claim initiated Sep. 2009 with CAU Nathan

27. Capital Project: Sewage Treatment Plant (STP) MA DEP mandate to tighten nitrogen limits On-Site Engineering hired to design solution Plan must be submitted by January 1, 2010 Work to be done Summer 2012 Potential cost spread over 5 years RJ

28. Capital Project: Reclamation Perimeter Pruning Winter 2010 All trees and vegetation within 5 feet of any structure will be cut back Encroaching on buildings (insects, rodents, birds, moisture, etc.) Focus on Leman, Birchwood, Rosewood, Lilac, and a portion of Turnbridge removed – too public FO

29. Capital Project: Lampposts 70 lanterns purchased in 2009 Posts to be purchased and installed Spring 2010 Vendor TBD Tall white poles on IB not to be replaced removed – too public FO

30. Capital Project: Deck Work All decks (front and back) reviewed Spindles and stairs fixed by Gary Lauze (I Need a Handyman) in 2009 Staining in 2010 Doyle, Leman, Weybridge Working with Salisbury to develop deck plan RJ

31. Capital Project: Walkway Repairs 18 to be identified get done in 2010 Revolution Landscaping, Masonry Contractor RJ

32. Capital Project: Painting and Carpentry 13-16 Birchwood Parts of Rosewood Includes punch list removed – too public RJ

33. Steering a New Course 20092010$% Operating Budget removed – too public Capital Projects removed – too public TOTAL removed – too public RJ Change

34. 2010 Fees RJ Condo Fee 7.4% Supplemental Fee2 equal payments due for Capital ProjectsMarch and August 2010 $348 will pay $322 PLUS two supplemental fees of $319 each (total $639) $308 will pay $285 PLUS two supplemental fees of $283 each (total $565) $305 will pay $282 PLUS two supplemental fees of $280 each (total $560)

35. Questions and Open Discussion FO

36. Meeting Adjournment Thank you! FO