MINUTES OF BOARD OF DIRECTORS MEETING TERRAVERDE COUNTRY CLUB MASTER ASSOCIATION, INC. TUESDAY April 9, 2013 Terraverde Master Office ( 10:45am-11:45)

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1 MINUTES OF BOARD OF DIRECTORS MEETING TERRAVERDE COUNTRY CLUB MASTER ASSOCIATION, INC. TUESDAY April 9, 2013 Terraverde Master Office ( 10:45am-11:45) Attending: Joe Intorcia, Marlene Gregory, Fran Meyers, Bob Anderson, Gale Mapes, Cliff Wright, not in attendance Rey Mayor, not in attendance, available by phone Prior to our Board of Directors meeting Jeffrey Moore, VP, Regional Account Executive of Mutual of Omaha Bank gave a brief overview of the bank. Joe told Jeff that Terraverde had already committed to 5 th 3rd Bank for the loan needed for the Pump House but he asked Jeff to go ahead with his presentation. Jeff was introduced to Joe by Doug Roedding, Accountant from Spires & Associates when Terraverde Master needed a loan on a previous occasion. Jeff said that early on Mutual of Omaha CAB Bank was not comfortable writing loans for the State of Florida. At that time Mutual of Omaha CAB approved the requested loan but because of the volume of documentation needed Joe turned to 5 th 3rd Bank. Jeff added that when Mutual of Omaha CAB was looking at loans they were treating them like common loans, and now they have $450 million dollars in HOA loans and none are in default. Loans are now approved within 15 to 20 days. Jeff said they have added On-Line banking which is much more efficient and also a Merchant Service Credit Card. Jeff said if his bank can t beat a loan thy will give $250. and if they can beat it they will give $250. to switch banks. When Joe had originally requested a loan Mutual of Omaha CAB had no local banks at that time. They now have branches in Marco Island, Naples, Ft. Myers and Tampa and are planning more branches throughout Florida. Mutual of Omaha CAB has revamped their Loan Department and are trying to win Terraverde business back. Mutual of Omaha CAB is now 105 years old and is one of the largest HOA Banks in the nation operating in all 50 states, and is a 4 Star rated Bank. Joe said the Board feels we are paying too much money in fees now Jeff said there is only a fee for returned checks but no fee per transaction, check fee or lock box fee. If the Board of Directors decide to look at what Mutual of Omaha CAB can do for us we would like an overview of their rates and how much money we might save. Right now Terraverde has a Club account, an Operating account and the Reserve account where $60,000 per year is budgeted. Jeff agreed to get some dollar figures from Doug at Spires & Associates as well as having Doug answer some Questions and will report back to Terraverde Master Board of Directors.

2 Marlene thanked Jeff for his time and the Board of Directors meeting started at 10:45. Marlene held the roll call and reported that Proof of Notice of this Board of Directors meeting was posted on April 5, 2013 at 11:30am on the bulletin board in the Terraverde Club house by Marlene Gregory, V.P., Dir. Minutes of the March meeting were accepted as posted. A motion was made to accept by Bob Anderson and second by Fran Meyers. All in favor. Motion carried. Marlene Gregory proceeded with the meeting asking for any old business. OLD BUSINESS: Joe reported that he has not signed the contract for Systematic Systems yet. Information was received from 5 th 3rd with conditions put forth from Brandon Johnson as to who will sign the loan documents and their titles. This information was ed to Rey Mayor and Joe feels the signatures will probably be the same as last time. Marlene added that in this instance we can pay off the loan before the 40 months if we wish to. Joe said the budget ends in June for the current bank loan for the pool for that $6,000. Joe still needs to approve the terms of the loan referred to in Brandon s letter. The first 4 months it s interest only then it will be set up on a monthly draw. We don t want to drag this thing out too long. Bob Anderson made a motion to accept the loan terms with 5 th 3rd. Gale Mapes second the motion. All in favor. Motion carried. Joe said in reference to the loan and the contractor, the contract will be signed and executed and a $42,000 downpayment will be made when the paperwork is completed and the loan is approved. The contractor needs this amount of money to start the project. Joe referred to the check received from Homeowners Choice Property & Casualty Ins. Co. (Megan O Berry) saying the Master Office has not signed or deposited the check because we are trying to reach a settlement with them. Joe said the cost of the new cabinets was an added extra and was not included in the cost of $17,700. Marlene talked to Rey Mayor regarding this situation and he suggested that we get an independent adjuster to take our case on a contingency basis. Gale Mapes agreed this was a good idea.

3 The way Joe sees this is we got information from the Attorney on how to proceed but proceeding beyond the information he gave us is going to cost us. That s when it was decided to send the letter and let them know what our position was and see in return what they say and if they want to settle. We received a letter that they accepted liability and that was important. Joe did get some information from Chris Shields our attorney at Pavese Law firm on how to proceed as to what the Insurance company says and if they want to make a settlement. Joe said we have plenty of pictures of the water damage done to the Master office. Marlene said we only carry insurance on the contents and that the owner of the unit upstairs is responsible for the damage. Marlene noted that she was aware that the toilet upstairs was replaced. There was mention of damage to Don Smith s unit as well. No Insurance adjuster ever came by the Master Office after an initial visit from their insurance representative. Marlene did contact an independent adjuster and got some good advice and the name of a person to contact. Marlene said the Master did not go for a settlement with the check received and a letter was sent Regular mail as well as Return Receipt Requested on Friday April 5, 2013 to the Homeowners Choice Property & Casualty Insurance company to the attention of Megan O Berry, Liability and Litigation Examiner. Everyone was in agreement to stop communication with the Attorney regarding this issue. Gale suggested that we take steps to move further if they don t respond to the letter. Joe mentioned that the problem of parking spaces with Building 24 was brought to the attention of Chris Shields from Pavese Law firm and after the initial contact decided to discontinue pursuing this and said if there is a parking problem then ESJ is responsible and Ken Weiner should deal with his attorney to solve the problem, not our Attorney who gave an opinion. Another invoice was sent to Terraverde Master Office from Susan McLaughlin of Pavese which Joe and Marlene refuse to pay since she was not authorized by them to continue working on this problem. Gale was curious asking Where were the Inspectors when the Building went up? There should be so many parking spaces per resident.

4 Joe reported that a new well is being dug as the current one is plugged and can t be unplugged. There is a shaft and a motor down there that can t be pulled out. We have a permit and approval for approximately 5 more wells to go in and Florida Water Management has the permit. There was no further old business. NEW BUSINESS: Dick Garofano, Manager of the Terraverde Club House reported a problem with some people drinking outside using bad language. He would like to stop them from coming in. Joe told Dick that the Board has all the confidence in him and will back whatever decisions he makes regarding this issue. Joe Intorcia received pricing information from the Hanover Group for the new units that will be on the market soon. Gale has a concern about how we will handle the problem in the building regarding dogs and some residents running a business from their garage. Joe said we will need to make changes in the Rules & Regulations and that we will have to have these documents filed in the Master Office. Gale mentioned that the permit should be posted so the Inspector can see it from the parking lot. Marlene is also very concerned and asks What can we do to make sure they live up to what they are expected to do? Joe said Call the County. Bob Anderson said no one should be able to move in until the Board approves. Joe said we need to have an application process along with a $100. filing fee. Bottom line is Joe will have to find out what is the legal way to handle the process. Joe says that they must go by the rules of the building. Gale feels all renters must sign up at the Master Office before moving in. Gale said we should have a rental application, credit report and background check before anyone moves in. The Board will help develop some new Rules & Regulations. Marlene said that the Rules and Regulations were set up by a previous Board so the current Board should review these and bring some ideas to revise and change them and refer their ideas to the Master office. Joe said since using the key fobs this has been a big help with security.

5 Marlene asked Joe to comment on the Notice he received regarding the Massive Overall Proposed for HOA Statutes coming in July. Regulations have to be according to the State Statues and must be equal for all. Fran mentioned the wall along the pond is deteriorating and needs attention and that he would like to see something in writing regarding the property along the Canal. Joe said this is a project for this Summer as it will take time to resolve the problem. Gail Shaw told Joe the Corp of Engineers owns this property and the County has nothing to do with it. Joe will investigate. There were some trees there that were a problem but that most of those have been taken down. Bob Anderson is concerned with dog owners walking their dogs near his building and has asked them not to come by that area as the residents work hard to keep their landscaping looking nice. Joe said any signs that were posted regarding this were probably taken down and thrown in the lake. There was no further business and Marlene set up a May meeting for Tuesday May 7, 2013 at 10:30 in the Master Office. Gale made a motion to adjourn and Bob Anderson second the motion. All in favor. Motion carried. The meeting was adjourned at 11:40. OPEN FORUM: Don Schmelter thanked Dick Garofano, Marlene Gregory and Joe Intorcia for their efforts this Season.