Boca South Association, Inc.
Meeting Minutes, February 12, 2009

Meeting was called to order at 7:05pm

Board members in attendance were:

Michelle Blouin
Michelle Coggiola
Mark Park

Motion made by Michelle Blouin, seconded by Mark Park, to approve minutes from December 13th, 2009. Motion passes.

Discussion regarding the wording surrounding a proposed addendum to our current elevator contract including; a $150 per day penalty for each day past the completion date, final completion is based on board approval, 1 year parts and labor warranty will start on the date approved by the board.

Motion made by Michelle Blouin, seconded by Mark Park, to pursue addendum to elevator contract. Motion passes.

24 of 86 unit owners have signed up for the bank loan for concrete restoration. 3 unit owners are behind on payments. If la oan is taken out, it will be taken out on behalf of the Association. The Association would collect monies from individual owners who elected the loan and the Association would then be responsible for making all payments on the loan. If any individual owner were to default on any portion of their individual loan, the Association would still have to make the payment on the owners’ behalf. Special assessments would then have to be put in place to cover the loan to cover those unpaid payments.

Motion made by Michelle Blouin, seconded by Mark Park, to stop pursuing the bank loan. A letter will be sent out to the 27 owners who have not paid the assessment to let them know that it will be their responsibility to pay the full amount of the assessment. Owners will have 30 days from the date of the letter to pay the full assessment.

There are questions regarding the General Conditions presented by the contractor. Some of the terms of the General Conditions need to be addressed, confirmed and potentially revised before the contract is signed.

Motion to adjourn at 8:40 by Mark Park, seconded by Michelle Coggiola. Approved.

Respectfully submitted,

Michelle Coggiola