AMERICAN TOWERS OWNERS ASSOCIATION

Minutes of the Board of Trustees Meeting

Wednesday, October 27, 2004

5:00 P.M.

Norman Salisbury called the meeting, convened in the Community Room, to order at 5:00 p.m.

Residential Trustees present and participating: Norman Salisbury, Mike Gravitz and Sandra Lee Sterns

Commercial Trustees present and participating: Donna Boes and Steve Tester.

Excused: Larry Shelton and John Patton

Management present and participating: Joe Toronto

Approval of Previous Minutes

The Minutes of the September 30, 2004 Board of Trustees Meeting, upon motion duly made and seconded were unanimously approved.

Financial Statements: September 30, 2004

The Financial Statements for September 30, 2004 were reviewed by the Manager. The Association reported an unaudited operating surplus of $81,999 Year-to-Date as of September 30, 2004. The Common Reserve Fund has an unaudited balance of $211,445 and the Residential Reserve Fund has an unaudited balance of $415,176 as of September 30, 2004. The Board also reviewed the delinquency report.

Finance Committee

The Board reviewed the minutes of the Finance Committee meeting held on September 24, 2004. The Committee proposed a number of rule changes with fines and fees. Sandra Sterns read the following changes to the Rules and Regulations into the minutes:

E. ACCESS CARDS:

2. Residents may obtain a guest card for guests by completing an submitting a completed Authorization to Issue Guest Access Card form with a $20 deposit. The deposit which will be refunded when the card is returned in original condition when the guest leaves. upon departure.

3. Lessees may obtain access cards with a at a cost of $20deposit for each card and appropriate forms submitted to the Management Office.

F. UNITS:

7. Unit doors and trim shall be repainted for a charge of $35 to the owner after 10 days written notice if in the judgment of management the door paint and trim has become overly damaged or unsightly.

G. PARKING:

7. The storage lockers in the parking stalls are the personal property of the owner. The Owners Association is not responsible for repairing or replacing the lockers, or for providing keys to them. Flammable items may not be stored in lockers. Nothing should be stored in the parking space outside of the lockers. Parking stalls must be kept clean and free of dirt, debris, and oil or grease.

10. The following fines shall be imposed for violations of the above parking rules:

First Offense - Warning letter
Second Offense - $100
Third Offense and thereafter - $150

H. MOVE-IN AND MOVE-OUT POLICIES:

2. Move-ins or move-outs will only be allowed between the hours of 8:00 A.M. and 6:00 P.M. seven days a week.

a. A non-refundable fee of $140.00 will be charged to each new move-in move-in fee of $75 and move-out fee of $75 shall both be charged and paid to the management office before the move-in takes place and before a move-in permit will be issued. The move-in and move-out fees apply to new owners as well as lessees and will be charged to title companies requesting payoff balances at the time of a change of ownership. The fees shall also be charged to owners if not paid by lessees at the time a lease is filed with the management office.

b. A copy of a signed lease agreement with a term of not less than six months shall be filed with the management office a minimum of 48 hours before the anticipated move-in. A form will be required from the owner of the unit, called "Permission to Occupy". This form must be completed signed by the owner and tenant, and submitted to Management. This form will also require the tenant to acknowledge receipt of a copy of these Rules and Regulations.

e. A deposit fee of $20.00 will be is required for each entry card issued to the lessee (one card per person). The deposit is refundable when the card (s) are returned upon moving out. All access cards are the property of the Association and must be returned at the time of move-out.

g. An additional $40 move-in fee is required for units that do not have Association approved high pressure washing machine hoses installed. The $40 of the move-in washing machine hose fee will be waived if the owner or resident demonstrates that high pressure washer hoses have already been installed. Otherwise, a set will be provided and installed.

I. LEASING POLICY:

2. The following applies to all units and owners in default:

a. A move-in permit shall not be granted to prospective tenant, lessee or occupant (hereinafter referred to collectively as "tenant") until the following conditions have been complied with:

i. The Association, Board or manager (hereinafter referred to collectively as the "Association") has received a copy of the executed Lease Agreement that contains a term of not less than six months, a copy of the rental application, and copies of any other information that may have been used to screen the prospective tenants;
ii. All common area fees due have been paid.
iii. The common area fee for the first month of the new lease term has been paid in advance.
iv. A move-in permit will not be issued until the $100 move-in fee has all move-in and move-out fees, access card fees and other fines and charges have been paid.

4. If the owner of a unit leases his unit, his rights to use the amenities are transferred to the new resident during the term of the lease. The owner of the unit will not have the right to use the amenities as long as he has a tenant. In addition, owners shall be responsible to pay any fees or fines incurred by their tenants.

W. PROHIBITED ACTIVITY:

1. No noxious or offensive activity shall be carried in or upon any part of the Project, nor shall anything be done or placed in or upon any part of the Project which is or may become a nuisance or which may cause unreasonable disturbance or annoyance to Owners generally. No activities shall be conducted, no improvements constructed, in or upon any part of the Project which are or may become unsafe or hazardous to any person or property.

2. The following fines shall be charged to Owners for any violation of the above by Owners, their guests or tenants:

First Offense - Warning letter
Second Offense - $100
Third Offense and thereafter - $150

3. In addition to any actual costs incurred by the Association for any damage, repairs or restoration, the above fines shall also apply to such damage, repair, cleanup or other rule violation.

Building Committee

Mike Gravitz reported that following a test of the smoke detector in his unit, there remain many unanswered questions regarding the fire alarm system. As a result of combined units on his floor, the smoke detector in his unit was misidentified as his neighbors unit on the main panel. In addition, it appears that the siren may not be alarming properly inside of some units. Further testing is necessary to identify the extent of these problems. It has been many years since a fire drill has been conducted and it may be helpful to conduct another fairly soon. Other ongoing system alerts are being investigated by a second contractor and will be addressed shortly.

The garage ventilation fans are presently under repair. Of the four fans, two have been repaired and one subequently failed again. That fan together with the other two have been disassembled and will soon be re-installed with some new parts.

The air conditioning system is presently being tested and programmed for off=season operation when the chillers are off or on stand-by and the heat exchanger bears the burden of providing our chilled water. There have been a few incidents of failed switch-over attempts and some problems have already been addressed. This will be an ongoing process for a few weeks as we are now able to test all of the elements of our system including those designed for cooler weather and wintertime operation.

There have been some continuing roof leaks in the area of the construction where the old cooling tower was located. These leaks appear to be related to faulty installation of the new roof, which has been repaired, and poor workmanship on some of the new construction. These issues all appear to have been identified and temporarily resolved and will be dealt with by the contractor.

The Committee beleives it has a solution into the water leaking in through some of the aluminum window frames and sills. The previous solution of caulking around certain areas of the frame were not entirely successful. The most recent testing indicates the water is penetrating the sill and the present solution involves injecting and filling the sill with expandable foam to seal it. Testing has been conducted that indicates the foam will not damage the window frame or sill.

APP Board Meeting Minutes

The Board received and reviewed the American Plaza Parking Board meeting minutes of September 29, 2004. The Plaza repair project may be delayed until 2006 as a result of some delays with some of the property owners getting their funding in place.

Next Meeting

The next meeting, because of the holidays will be scheduled at a later time.

Adjournment

The meeting adjourned at 6:00 p.m.

Respectfully submitted,

Mike Gravitz
Secretary