August 1, 2006
9:30 a.m.
The offices at 239 E. Washington Street, Sequim
MINUTES FOR THE 2006 SUNLAND DIVISION 17 ANNUAL MEETING
Kevin Estes called the 2006 Annual Meeting of Sunland Division 17 to order at 9:30 a.m. Members present were Kevin Estes, Sue Fong and Patti Underwood. Also present were Jo Anne Estes, and Nancy Cannan of CAU Insurance.
Kevin Estes introduced Nancy Cannan to the Members present.
New business was discussed:
Insurance Matters: Nancy Cannan discussed the new insurance policy for the Association which was effective May 1, 2006. See copy attached. Community Association Underwriters of America (CAU) covers only residential homeowners associations. She explained the CAU philosophy of significant underwriting by CAU before any Association is accepted. She explained the coverage’s provided and how we have made significant improvements in the Association insurance coverage for a reduced cost. The most significant change is that the entire structure is covered and that bodily injury and property damage are $1,000,000 per Occurrence. The deductible increased to $5,000. The policy provides coverage at Full Replacement Value thus eliminating the need to estimate full replacement value of the Units per Section 18.1 (a). The Board confirmed the annual insurance review and appraisal by a representative of the insurance carrier writing the master policy.
A motion was made, seconded and passed to maintain the same slate of Officers for Sunland Division 17 Owners Association with the exception of Dick Stuhr who submitted his resignation to the Board. Sue Fong remains as Vice President and Patti Underwood as Secretary/Treasurer for three year terms (ending in 2009.) Kevin Estes will send a thank you note to Dick Stuhr for his unending dedication to the Association.
The Board reviewed the Sunland Water District letter dated December 6, 2005. See copy attached. The letter was discussed and there will be no action taken at this time.
In Landscape matters, the Board directed Jo Anne Estes to obtain two quotes on the renewing landscape contract. Once received, the bids will be reviewed by Patti Underwood in her capacity as Landscape Liaison. Kevin Estes updated the Board on the planned monument sign. Although the commitment was for an approved design to be installed by July 2006, Clallam County sign ordinance issues precluded this timing. The estimated completion date is September 30, 2006.
The Board also agreed to have Patti Underwood participate in the Maintenance Review checklist conducted quarterly. Jo Anne Estes will direct this effort. As part of this discussion, it was agreed that all gutter miters should be checked. This will add to the cost of the maintenance inspection.
A review of the checking account and Certificate of Deposit account was conducted. A motion was made, seconded and passed to purchase another $35,000 six month Certificate of Deposit at the Association’s fmancial institution. A motion was made, seconded and passed to renew all existing CD’s for an additional year.
The Board reviewed the Association budget. After discussion, a motion was made, seconded and passed to maintain the current $420 quarterly assessment.
Jo Anne Estes will ask the Insurance carrier for guidance on what is an estimated reserve percentage for homeowners associations.
A motion was made, seconded and passed to approve the minutes from the 2005 Annual Meeting.
The meeting adjourned at 11:00 a.m.
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