Minutes of the Meeting of the Members

Saturday, August 11, 2007

10:00 A.M.

Norman J. Salisbury, President called the meeting to order.

Residential Trustees present and participating: Norman J. Salisbury, John Patton and Mike Gravitz

Trustee Sandra Lee Sterns and the Commercial Trustees were excused. The commercial owner was present by proxy as his ballot had been received prior to the meeting.

Quorum Requirement: It was determined that over 500 votes had been cast and therefore a Quorum was established.

Presentation of Candidates: Each of the candidates for the Board of Trustees gave their own presentation of the issues facing American Towers.

Counting of Ballots: Voting was declared closed. Ballots were collected and turned over to the auditor to be counted.

Election Results: The following election results were announced as tabulated and compiled by Bushman Associates:

Bruce Hiatt 101.51
Mike Gravitz 319.75
No Vote     0.00
Jonathan Dunn (Commercial)   88.96

Mike Gravitz was declared elected as Residential a Trustee and Jonathan Dunn was declared elected as a Commercial Trustee.

Building Committee: Mike Gravitz gave a brief summary of the recent activities and progress of the Building Improvement Committee.

Finance Committee: Ted Roper reviewed some of the recent activities of the Finance Committee and gave a brief review of the audit report.

Adjournment: The meeting adjourned at 12:00 p.m.

Respectfully submitted by Mike Gravitz