Road Resurfacing Committee

							                       Road Resurfacing Committee
                       Meeting Minutes from 4/1/09
                         Recorded by Don Manges - Issued 4/3/09

The current committee members are (* = in attendance): Don Manges (Chair)*, Bill Day*,
Paul Pudlinski, Gail Berkeihiser, John Bates*, and Bill Chase*. Board representative is John
Trainor.


A Committee has been formed by the BOD to decide how the financing will be made
available to lot owners, who need to finance their assessment, if the roads are paved. The
members are W. Dryden, A. Wood, B. Clare, W. Tucker, and D. Manges. Knowing that
Cecil Bank has agreed to finance half of the road cost if the Community pays half upfront the
Committee came up with a recommendation for a payment schedule. I have attached the
Committee's minutes as recorded by B. Clare. The BOD at their next meeting on 4/9/09 will
review the proposed payment schedule.

W. Dryden has obtained more clarification of the legal requirement for the 'vote', on paving
the roads. In summary, the BOD has to determine what would constitute a quorum of the lot
owners and a majority of that quorum would be required to carry the vote. The details will
be discussed at the next BOD meeting and should be covered in their minutes.

Changes to the project Timeline were reviewed and an updated timeline will be issued after
the next BOD meeting.

Changes to the original Proposal that was approved by the Board in January, were reviewed.
Sections on Financing and Voting have been added, along with section headings for all
sections. When contractor bids are in on Friday 4/3/09 the Proposal will be updated and sent
to the Board on Monday the 6th for their review prior to the next meeting.

A need to have trees trimmed prior to having the roads paved was expressed by one of the
contractors that attended our pre-bid meeting. W. Day, W. Chase, and J. Bates will survey
the community on Wednesday the 8th of April to determine the extent of the trimming
necessary.

Concerns about drainage came up again. J. Bates, W. Chase, and W. Day agreed to do a
survey of the Community to locate all potential known problems and document them. This
survey will be done along with the tree survey on the 8th. J. Bates also said that the wanted to
have Dennis Reynolds evaluate the problem at the South end of Caldwell. Post-meeting
Dennis came down on Thursday the 2nd and reviewed problem areas on Caldwell and
Cliffview. The feeling was that the road Maintenance Committee could handle the problem
on Cliffview and Dennis will come back and give us a price for the job on Caldwell. It has
been stated many times that our current roads are impervious. Thus paving them should not
increase the amount of water running off of the road. J. Bates has arranged for Mike Lewis,
State Highway Engineer for Cecil County, to come down and review our roads. He will be
here at 10:00 on the 8th of April.

If and when the roads are paved we will need a large support group from the Community to
monitor the paving operation and keep track of and document all the truck loads of asphalt
that arrive on the job site. If needed, this is a task for May and June.


The next meeting of the RRC was agreed to be on the 8th at 2:00. Since Lewis is coming
here then and the tree and drainage surveys are being done we will probably have to change
the date and or time. I will be in touch.

Don Manges
                   Road Resurfacing Finance Committee Mtg of Mar 26 2009.
A meeting was held Thursday Mar 26th between Don Manges, Bill Dryden, Art Wood and Brian Clare * to
review financing issues for the upcoming proposed Road Resurfacing Project. A number of different views and
scenarios were considered and the following points are recommended to be adopted by the Board.

1) It should be noted that all considerations assume that at least 50% of the residents will not need any
financing, and further, since the bank will only cover a loan of up to 50% of total cost, every effort should be
made to encourage payment in full. Financing should not be that attractive as to discourage this balance.

2) The project financing and accounts receivable plans/procedures will be established by the current committee
and after initial implementation passed to the Vice President to manage as part of the statuary duties of that
position (such as the open lot mowing and driveway plowing contracts). However in practice it is anticipated
that this will be a coordinated effort between the treasurer, legal, membership and the VP.

3) Only one financing plan will be offered in order to simplify the process.

4) The plan (as suggested by Bill D. and shown in detail on the Attachment) is intentionally front end weighted
in order to build in a vested ownership by participants.

5) The plan assumes a 3yr. loan by CICA with annual payments and option to prepay.

6) The schedule in the attached plan will make it possible to make pre-payments against the loan in each of the
years. In this respect particular attention should be made to not hold funds past a tax year period and thus avoid
incurring Fed. Taxes.

7) The interest rate in the plan incorporates an additional 2% on top of the bank rate to cover administrative
costs.

8) Finance participant payments will be made to CICA by separate check into a specific holding account.

9) Non payers will not have any option to finance, “legal” will process papers for payment in full. This also
will apply to a non payment of a finance installment, if a default condition exists payment in full will be
pursued. (in the latter case there may be individual exceptions that may warrant Board review at the time)

10) It was agreed that in the event there are unspent funds at project completion these will be transferred to the
Community Maintenance acct. to be applied as a credit for all lot owners.

Brian.

* Bill Tucker was unable attend however the writer later reviewed all issues and findings with Bill and there
were no differences.