Peralta Creek Tower Owners Association Board of Directors Meeting September 15, 2011 MINUTES Call to Order/Attendance: The

regular meeting of the Peralta Creek Tower HOA Board of Directors was called to order at 7:04 pm by President Deborah Smith. Also present were Board Members Carla Johnson, Lawrence Lancaster, Richard Gorringe and Rich Noble of Noble Community Management. Board Member Daile Rosicky was absent. Approval of Minutes: President Deborah Smith entertained a motion to accept the Board of Directors Meeting minutes of August 18, 2011. Richard Gorringe moved to approve the motion. Lawrence Lancaster seconded the motion, which carried. Treasurers Report: Rich Noble took over the analysis of the current Budget Status. We are currently trending over, however, we should balance out by the end of the year. Treasurer Daile Rosicky confirmed the Treasurers Report for the August Financial Statement with Rich Noble. President Deborah Smith entertained a motion to accept the Financial Statement for the period ending August 31, 2011. Lawrence Lancaster moved to approve the motion. Richard Gorringe seconded the motion, which carried. Street Parking Committee: Status of the project was reviewed as follows:

2HR PARKING: Secretary Carla Johnson noted seeing the Meter Maid on the street. Lawrence Lancaster confirmed marking of the tires. Email Updates: Secretary Carla Johnson reported an email from an Owner regarding the Associations Insurance validation. Rich noted this is common after several years for individual property owners to receive a request from their personal insurance companies verifying the Associations Insurance status to update their records. Managers Report: Report from Rich Noble of Noble Community Management was reviewed as follows: 1. Delinquent Accounts/Financial: There is currently one delinquent account to report. 2. Lighting Upgrade: Rich confirmed the work has been completed as per the proposal. The retrofit originally qualified for the Board to receive a $695 rebate from PG & E but now with further research we should receive close to a $1000 rebate. Secretary Carla Johnson inquired about savings for individual units. She is providing that information for analysis to Tom Preston at Pacific Light. 3. Directors Election & Members Annual Meeting: The Annual Meeting is scheduled for November 17, 2011. Please see Old Business for additional information. 4. 2012 Budget: A draft of the 2012 Budget was submitted to the Board, which must be approved by January 1, 2012. Rich will update the Elevator Service cost to reflect the additional service agreed upon in the past month. Deborah Smith entertained the motion to approve the Managers Report as stated, Richard Gorringe made the motion and Lawrence Lancaster seconded the motion which carried. Written Communications: There were no Written Communications to discuss. Old Business: 1. Candidates for Nomination for Directors Election: Both Lawrence Lancaster and Richard Gorringe turned in Candidate Nomination ballots for the open seats on the Board. 2. Courtyard Stairway Renovation: (Tabled)

Peralta Creek Tower Owners Association Board of Directors Meeting September 15, 2011 MINUTES continued New Business: 1. Consideration of 2012 Draft Budget: The current draft budget does reflect the costs of the 2011 year but is a start. More updated information from vendors, services and utilities will follow to make the forecast for the 2012 budget more accurate. 2. Paying of Bills: Total paid out from the Operating Budget for all bills to date was $12,823.50. There were no Reserve Disbursements paid out during August. Current U.S. Bank balance as of August 31st is $10,384.15. Current Reserve balance as of August 31, 2011 is $112,144.38. President Deborah Smith entertained a motion to approve the paying of the bills. Richard Gorringe made the motion and Lawrence Lancaster seconded the motion, which carried. Adjournment: There being no further business to come before the Board, Deborah Smith entertained a motion to adjourn. Richard Gorringe made the motion and Lawrence Lancaster seconded the motion which carried at 7:38 pm. The next meeting will be on Thursday, October 20, 2011 at 7pm. Respectfully submitted: Carla Johnson, Secretary