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| COVERED BRIDGE CONDO. ASSSOC. INC. |
| 2010 SCHEDULE OF TRUSTEES' MEETINGS |
January 2010 to June 2010 | REVISED FEBRUARY 2010 |
MONTH | DATE | DAY | TYPE OF MEETING | TIME | ROOM |
MARCH | 1 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
| 8 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
| 9 | TUESDAY | TRUSTEE BUSINESS MTG. | 7:00 | BALLROOM |
| 15 | MONDAY | HOCB LIAISON/TRUSTEE MTG. | 1:30 | TRUSTEE |
| 15 | MONDAY | CLOSED MEETING | 2:00 | TRUSTEE |
| 17 | WEDNESDAY | OPEN TRUSTEE MEETING | 7:30 | BALLROOM |
| 22 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
| 23 | TUESDAY | TRUSTEE BUSINESS MTG. | 7:00 | BALLROOM |
| 31 | WEDNESDAY | CLOSED MEETING | 1:30 | TRUSTEE |
APRIL | 5 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
| 6 | TUESDAY | TRUSTEE BUSINESS MTG. | 7:00 | BALLROOM |
| 12 | MONDAY | HOCB LIAISON/TRUSTEE MTG. | 1:30 | TRUSTEE |
| 12 | MONDAY | CLOSED MEETING | 2:00 | TRUSTEE |
| 19 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
| 21 | WEDNESDAY | CONDO REP. BOARD/TRUSTEES | 7:00 | TRUSTEE |
| 22 | TUESDAY | TRUSTEE BUSINESS MTG. | 7:00 | BALLROOM |
| 26 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
MAY | 3 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
| 4 | TUESDAY | TRUSTEE BUSINESS MTG. | 7:00 | BALLROOM |
| 10 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
| 11 | TUESDAY | CANDIDATES NIGHT | 7:30 | BALLROOM |
| 17 | MONDAY | CLOSED MEETING | 2:00 | TRUSTEE |
| 17 | MONDAY | HOCB LIAISON/TRUSTEE MTG. | 1:30 | TRUSTEE |
| 18 | TUESDAY | TRUSTEE ELECTION | 3-8 | BALLROOM |
| 19 | WEDNESDAY | REORGANIZATION MEETING | 1:30 | TRUSTEE |
| 24 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
| 25 | TUESDAY | ANNUAL MEETING | 7:30 | BALLROOM |
JUNE | 1 | TUESDAY | CLOSED MEETING | 1:30 | TRUSTEE |
| 7 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
| 8 | TUESDAY | TRUSTEE BUSINESS MEETING | 7:00 | BALLROOM |
| 16 | WEDNESDAY | CONDO REP. BOARD/TRUSTEES | 7:00 | TRUSTEE |
| 21 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
| 23 | TUESDAY | TRUSTEE BUSINESS MEETING | 7:00 | BALLROOM |
| 28 | MONDAY | CLOSED MEETING | 1:30 | TRUSTEE |
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MINUTES OF THE BOARD OF TRUSTEES COVERED BRIDGE CONDOMINIUM ASSOCIATION OPEN MEETING JANUARY 12, 2010
Present: Carolee Trifon, President; Paul Profeta, Vice President; Hal Lessner, Secretary; Sid Leveson, Treasurer; Sid Alpert, Trustee; Sally Hemlan, Trustee; Rich Parachini, Trustee
Guest Speakers: Chris Florio, Esq. of Stark and Stark; Allan Samuels, Leeed AP of Energy Squared LLC.
Bill Lubeck, General Manager ofT-Tech Electric, LLC.
1. This special meeting to discuss aluminum wiring was called to order at 7:00 pm. The ballroom was packed with residents with aluminum wiring in their units, their family members, and other unit owners.
2. Carolee Trifon presented an overviewofthe insurance and safety situation and the decisions made by the Trustees, including the requirement that unit owners with aluminum wiring must pay for remediation and that replacing aluminum with copper wiring would be required. The Trustees have obtained two legal opinions and an engineer's report, and have sought insurance from various companies. A certified letter was sent to unit owners in buildings 22-85 indicating that they may have aluminum wiring and asking them to infoml the Association in writing as to whether they wanted the remediation done by the Association's electrician or their own. Ground rules for questions were established.
3. Paul Profeta described aluminum wiring replacement and the timetable. He explained that the Federal Pacific circuit breaker boxes, which are also a fire hazard, would be replaced at the same time as rewiring.
4. Chris Florio, Esq. explained that the decision that unit owners must pay for aluminum wiring remediation was based on our governing documents. There is no case law on point. He read sections from the official copy ofthe Master Deed on file with Monmouth County. He explained that the Association had the right to enter units to do the remediation and to charge the unit owners.
5. Allan Samuels explained the reasons for the safety risk with aluminum wiring. Replacing it with copper wiring is the safest option. While the risk is greatest with branch circuits, there is also risk with dedicated wiring.
6. T- Tech presented slides to show how the wiring would be put behind crown molding, which would lower the cost of rewiring (especially in lower units), reduce disruption to units and enhance unit appearance. The work would be done in a couple of days. The combination of rewiring and using crown molding would minimize repainting and damage to any wallpaper or paneling. Without the use of crown molding, the cost would be much higher for lower units.
7. Questions from the audience were answered by the guest speakers and by Carolee Trifon, Paul Profeta and Sid Leveson.
8. Chris Florio, Esq. responded to a unit owner that he represents the corporation (CBCA Inc.), not the unit-own-
ers or the Trustees.
9. The Trustees acknowledged that aluminum wiring-does not violate Federal, State or Township requirements. 10. Our former insurance company, the largest condo insurer, cancelled us because of aluminum wiring. They do not accept Copalum as remediation.
11. Paul Profeta noted that the cost of Copalum, the next best alternative, was two-thirds that of rewiring with copper. There would still be some risk, the repair would be more disruptive, and the Township inspector could find other issues in the condo unit. The insurance market is soft today, and there is no assurance that Copalum would be accepted in a tight market. Pigtailing was accepted by our fOmler insurance company until last year.
12. Sid Leveson reported that the State Insurance Department only requires insurance companies to. file rates and other infomlation. It does not scrutinize their charges.
13. Jerry Reiff, a unit owner who previously had his own insurance agency, had been insurance advisor to the Trustees until 2 weeks earlier. He had advised the Trustees that there was a high risk that Copalum would not be accepted in a couple of years in a tighter insurance market. There was also a substantial risk that other insurance companies would follow the largest condo insurer, which no longer accepts Copalum. Now, as a unit owner who would have to pay for rewiring, he said that he "changed his mind." He stated that several insurance companies he approached on our behalf had turned us down because of aluminum wiring, but a few would accept us after rewiring with copper or remediation with Copalum was completed.
14. Some residents were concerned that they cannot afford to pay for remediation of aluminum wiring. Sid Leveson indicated that the Trustees were-seeking a 2-year loan that would give unit owners the option of having time to pay. Carolee Trifon assured the audience that no one would be thrown out of their unit because of inability to pay.
15. There is aluminum wiring in the clubhouse as well. Allan Samuels explained that the danger is greatest in condo units where people are sleeping.
16. Many residents said that all unit owners should share the costs of remediating aluminum wiring, which 2 lawyers told the Trustees could not be done. Many residents did not want the aluminum wiring remediation done at all, because they did not want to pay anything. A few threatened legal action.
17. The meeting ended at 11 :00 PM.
Sid Leveson, Trustee
MINUTES OF THE BOARD OF TRUSTEES COVERED BRIDGE CONDOMINIUM ASSOCIATION
OPEN MEETING JANUARY 15, 2010
Present: Carolee Trifon, President; Paul Profeta, Vice President; Hal Lessner, Secretary; Sid Leveson, Treasurer; Sid Alpert, Trustee; Sally Herman, Trustee; Rich Parachini, Trustee
Absent: Hal Lessner and Sid Alpert
I.The meeting was called to order at 1 :15 PM. A quorum was established.
2. Nick Ferrara, AAI of JGS Insurance, the Association's new insurance broker, discussed the history of our efforts to obtain insurance for 2010 and its relationship to the aluminum wiring problem. He observed that the Trustees had asked "every possible question" in making a decision about how to address aluminum wiring. He explained why a new insurance company was required and his successful efforts to avoid a further increase in insurance costs. He explained why we can't self-insure. He described the excess market in which companies write insurance for those who do not qualify for normal rates. Without acceptable remediation of aluminum wiring, he said we would have to get insurance through the excess market, where insurance rates and deductibles were extremely high.
3. A motion to switch the Property/Liability Package Policy to Holyoke Mutual Insurance Company, subject to Condo Rep. Executive Committee review, was introduced by Sid Leveson, seconded by paul Profeta, and passed unanimously.
4. The meeting was adjourned at 1 :40 PM.
Sid Leveson, Trustee
MINUTES OF THE BOARD OF TRUSTEES COVERED BRIDGE CONDOMINIUM ASSOCIATION OPEN MEETING JANUARY 25, 2010
Present: Carolee Trifon, President; Paul Profeta, Vice President; Hal Lessner, Secretary; Sid Leveson, Treasurer; Sally Herman, Trustee; Rich Parachini, Trustee
Absent: Sid Alpert
l.Meeting was opened at 3:00 PM and attendance was taken.
2. It was announced that the Board planned on having the next open meeting in the evening on Feb. 9th. The Board is trying to see if more people can attend the open meetings if they are held in the evenings.
3. A proposal from ENERGY SQUARED was presented for a complete energy audit and assistance to receive government grants to upgrade energy usage in the clubhouse. The program would partially pay for upgrading the lighting, heating, doors, cooling, windows and any other areas of the building that affect power usage. The fee for this would total $9200.00 to be paid out over some period of time. The Board approved this expenditure.
4. Several letters were received regarding wiring from residents with questions about the rewiring program. They will be answered by the secretary or, in one instance, by our lawyer.
5. The meeting was closed at 4:00 PM.
Hal Lessner, Sec.