August 9, 2005

CHATEAU HEIGHTS COUNCIL OF CO-OWNERS, INC. MEETING.

Location: Chateau Heights unit #26

Date: August 09, 2005

In attendance: Lynn Ferrell, President

Eva Pelaez, Treasurer

Lydia Leo, Vice-President

Miguel Aguirre, Secretary

Ted Miller Jr., Property Manager

The meeting was called to order at 10:50 a.m.

The minutes of prior meeting were read and Eva made a motion to approve as amended, seconded by Lydia and unanimously approved.

The financial reports were reviewed and after discussion Lydia made a motion to approve, seconded by Miguel and upon vote the motion was unanimously approved.

Collections: There was some discussion concerning collections with no action taken.

The proposal for the renewal of the Directors and Officers liability insurance was presented and discussed. Upon motion by Eva, second by Miguel it was agreed to purchase the insurance as quoted.

There was a lengthy discussion concerning the South perimeter wall. Upon motion by Eva, second by Lydia and unanimous vote it was decided that in lieu of repairing our South perimeter wall, and having to deal with its continued deteriation due to poor construction methods used in its initial construction, to accept a proposal and enter into a contract with Antonio Trad the adjoining property owner to share in the cost of removing our wall and the construction of a new wall that would separate his development from Chateau Heights. Chateau Heights monetary participation would be $ 12,000.00 and the President was authorized by unanimous vote to negotiate and enter into the contract with Mr. Trad after review by our attorney.

There being no further discussion the meeting concluded at 12:25 PM.