The minutes of the April 4, 2002 Board of Directors meeting were distributed and reviewed. Joe Fisher moved to approve the minutes as presented. Gloria Kron 2nd the motion. The motion was approved.

The April receivable report was distributed and reviewed. The managing agent was asked to contact the homeowners with delinquent accounts and to send them demand letters.

The April financial reports and reserve analysis were distributed and reviewed. Joe Fisher noted that the replacement costs reflected on the reserve analysis may not be accurate due to inflation.

A discussion was held on the holes in the asphalt on the west side of the property. Gloria Kron moved to have those repaired. James Call 2nd the motion. The motion was approved.

Joe Fisher moved to purchase a 1 year CD with a jump-up option at the Northrim Bank for $20,000.00. Jeff Cooper 2nd the motion. The motion was approved.

Correspondence for the Association was reviewed. A discussion was held on the parking problems. There are several residents within the Associaiton, who abuse parking rules by keeping their vehicle(s) in the visitor parking spaces on a regular basis. Residents also utilize property adjacent to the Woronzof for parking. The Board does not feel that the Association has the right to enforce parking on that property unless an authorization to do so from the owner is obtained. Joe Fisher will look into this.

James Call distributed the proposed House Rules amendment to prohibit any repairs to the vehicles on the property and to ensure that the vehicles are capable of being repositioned for snowplowing during winter months. Jeff Cooper moved to adopt the proposed House Rules amendment. Gloria Kron 2nd the motion. The motion was approved.

Jeff Cooper reported on the status of miscellaneous repairs. The managing agent reported that the window leak in unit 300 should be repaired this weekend.

A discussion was held on a possibility of wiring the security camera to the TV antenna/GCI Cable TV. The managing agent was asked to contact GCI to see if it could be done.

Sunshine Glass Cleaning submitted a proposal to wash the exterior of the windows for $1,250.00 and the trim around the windows for $600.00. It was decided to have Sunshine Glass Cleaning wash the windows and the trim.

The managing agent was asked to obtain bids to repaint stairwells and halls and to put this item of business on the agenda for the next meeting. Carpet will also be shampooed when the painting is done.

The managing agent was asked to look into possibility of constructing a garage on the north side of the property.

The next meeting of the Board of Directors will be held on Thursday, August 1, 2002 at the hour of 6:00 p.m. in the conference room on the 2nd floor.

Being no further business to come before the Board to discuss at this time, the meeting was adjourned at the hour of 7:31 p.m.

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