MINUTES OF SPECIAL GENERAL MEETING STRATA CORPORATION NW 2671 “SUNRIDGE ESTATES” Held: Thursday, August 4", 2005 at 7:00 PM in the Church Foyer, Eagle Ridge Bible Fellowship, 1160 Lansdowne Drive, Coquitlam, BC Present: The Owners, Strata Plan NW 2671 As per the Registration Sheet Joan MacDougall, Bayside Property Services Ltd. Tony Gioventu, Executive Director, Condominium Home Ce, Association ‘Alan Cadwell, BC’s Condo Advocate Inc. Peter Slack, Council President, called the meeting to order at 7:15 PM. It was moved, seconded (#209/#210) and carried unanimously to have Tony Gioventu chair the meeting. Bayside reported that there was a total of 53 Owners represented at the meeting, including 14 by proxy. In accordance with the Strata Property Act of British Columbia, a quorum requires that eligible voters holding 1/3 of the Strata Corporation's votes be present in person or by proxy. The registration sheet was signed, proxies were certified and ballots were issued. PR NOTICE It was moved, seconded (#514/#203) and carried unanimously that the Notice of Meeting dated July 18°, 2005, was proper notice as per the requirements of the Strata Property Act. PREVIOUS MINUTES OF THE SPECIAL GENERAL MEETING It was moved, seconded (#320#101) and carried unanimously to approve the Minutes of the ‘Special General Meeting held June 2, 2005, as previously circulated. APPROVAL OF AGENDA It was agreed to approve the Agenda as presented, SPECIAL RESOLUTION #1 BY % VOTE WHEREAS: A. The Owners, Strata Plan NW 2671, commonly known as Sunridge Estates (the “Strata Corporation”), have approved funding for the litigation to recover costs incurred by the Strata Corporation at the Special General Meeting held on June 2", 2005. B. The Owners, Strata Plan NW 2671, agreed to authorize Morrison Hershfield Limited to provide litigation support services. The amount originally approved has been increased to allow for an additional $10,700.00 that may be required to provide an expert’s report, which has been included in the proposed total in Special Resolution #1MINUTES OF SPECIAL GENERAL MEETING ~ AUGUST 3"°, 2005 STRATA CORPORATION NW 2671 2 C. The Owners, Strata Plan NW 2671, agreed to include the costs of the litigation and support services through a Special Levy to be included with other Special Levies at another Special General Meeting. The Owners agreed that in the interim, funds would be taken from the Contingency Reserve Account. The Contingency Reserve would be repaid once the Special Levy funding was received. D. The Owners, Strata Plan NW 2671, agreed as part of their initial application with the Homeowner Protection Office to retumn any refund or monies received through litigation or if there are additional monies left at the end of the project to repay the outstanding Homeowner Protection Office loans. BE IT RESOLVED THAT The Owners, Strata Plan NW 2671, commonly known as Sunridge Estates (the “Strata Corporation) approve the expenditure of $192,800.00 to cover the litigation and litigation support services by Special Levy of the Owners, based on unit entilement, as per the attached schedule. (Should the amount required for litigation exceed the amount originally estimated, additional funding, if any, will be taken from the general funding to avoid any additional levies.) The Special Levy shall be assessed on August 4”, 2005 and will be due and payable, in full, immediately upon passing of this Resolution. Any Owner who sells, conveys or transfers his/her title, including re-mortgaging, shall pay the full amount outstanding. As a matter of financial convenience only, Owners may remit their Special Lavy on or before September 15", 2005. The Special Levy shall be considered as part of the common expenses of the Strata Corporation and all clauses of the Strata Property Act of British Columbia shalll be applicable where an Owner fails to make the required payment as authorized by the passing of this Special Resolution. There was no discussion on this issue. Geri Campbell and Joan MacDougall were asked to be scrutinizers and count the ballots collected. It was moved, seconded (#101/#210) and carried, with 46 in favour and 5 opposed, to approve Special Resolution #1 as presented. SPECIAL RESOLUTION #2 BY % VOTE WHEREAS: A. The Owners, Strata Plan NW 2671, have already applied for and in most cases received funding though the Homeowner Protection Office (‘HPO’) for the Special Levy to complete building envelope repairs, but further funding is now required. B. The Owners, Strata Plan NW 2671. if Special Resolution #2 is approved, will need io submit an application to the Homeowner Protection Office to increase their loan. The form letter to be issued to HPO has been included for the Owners’ convenience. Owners will need to fill in their loan application number noted on their HPO acceptance letters and their unit number. The letter can be faxed or mailed to the HPO. The HPO will then direct the Owners by letter to return to their bank and the lawyer to have the funding released. BE IT RESOLVED THAT The Owners, Strata Plan NW 2671, commonly known as Sunridge Estates (the “Strata Corporation”) approve the expenditure of $795,000.00 to cover additionalMINUTES OF SPECIAL GENERAL MEETING - AUGUST 3, 2005 STRATA CORPORATION NW 2671 y costs of the building envelope repairs that are exceeding the original estimated amount, by Special Levy of the Owners, based on unit entitloment, as per the attached schedule. The ‘Special Levy shall be assessed on August 4”, 2005 and will be due and payable, in full, immediately upon passing of this Resolution. Any Owner who sells, conveys or transfers hisiher title, including re-mortgaging, shall pay the full amount outstanding. As a matter of financial convenience only, Owners may remit their Special Levy on or before September 18", 2005, The Special Levy shall be considered as part of the common expenses of the Strata Corporation and all clauses of the Strata Property Act of British Columbia shall be applicable where an Owner fails to make the required payment as authorized by the passing of this Special Resolution. ‘A general discussion about the construction and change orders took place. Owners questioned the process and costing. Alan Cadwell, BC’s Condo Advocate, provided an overview and noted that an information meeting had been held Thursday, July 28", a week prior to this meeting, The information meeting was held to provide information to the Owners about the project. It was moved, seconded (#514/#512) and carried, with 51 in favour and 2 opposed to approve Special Resolution #2 as presented. There being no further business to discuss, it was moved, seconded (#320/#209) and carried, to terminate the meeting at 8:10 PM The next Council Meeting has been scheduled for Tuesday, August 23%, 2005 at 7:00 PM. The location is yet to be decided. CV Mnaclloupeee Joan MacDougall Property Manager BAYSIDE PROPERTY SERVICES LTD. Sperling Plaza, Suite 100 — 6400 Roberts Street, Burnaby, BC VSG 469 Tel: 604.432 774 (24 hours — after office hours, emergencies only please) Fax: 604.430.2698 Email: jmacdougall@baysideproperty.com [PRecent recommendations to the Real Estate Regulations require a vendor to provide ] |purchasors, with copies of minutes. Please retain these minutes provided to you, at no cost, as | replacement minutes will be subject to payment of a fee.