February 2015

MINUTES OF A MEETING

OF

THE BOARD OF DIRECTORS

OF

BROOKRIDGE HOMEOWNERS ASSOCIATION, INC.

A meeting of the Board of Directors of Brookridge Homeowners Association, Inc. (the “HOA”) was held on February 18, 2015, at the home of Barbara Schiff. Present at the meeting were: Ted Waksman, Paul Spindel, Carole Princer Levy, Barbara Schiff, and Monica Teuscher , all of whom are Directors, constituting a quorum. Also present was Tom Pallman of Stillman Management, Inc.

Ted Waksman acted as Chair of the meeting; Carole Princer Levy acted as Secretary.

Call to order at 7:00 p.m.

Minutes of the prior meeting have been approved and posted.

Paul Spindel reported on the Sheriff’s Sale of Unit #16. Acqua Capital LLC, which is controlled by Louis Zazzarino, has purchased the property . Based on our information, Mr. Zazzarino is in the business of buying distressed properties.

Paul Spindel, Treasurer, reported that it is too early to project to the end of the year . However, we expect to have a large expense for snow removal which may have an impact on our overall budget. He reported the following balances:

Operating Account - $8,176 as of January 30, 2015;

Reserve Account - $228,684 as of January 30, 2015.

The Board discussed a Homeowner who is in arrears on maintenance payments as well as our efforts to recover the cost of repairing the damage to the tennis court. We expect to have these issues resolved shortly.

A flyer regarding bat inspection and bat-proofing or removal by Bats-R-Us has been distributed to the Community. The cost is $975 per unit, and the company provides a ten year guarantee on returning bats. Please contact Bats-R-Us or Tom Pallman by April 30, 2015 if you are interested.

Ted Waksman submitted a letter of resignation as Officer (President) and Director of the HOA Board of Directors effective today, as he is moving on March 3. The Board thanked him for all his hard work and perseverance. The Board wished him good luck in his new home.

Jeff Adler has volunteered to join the Board. Pursuant to our By-Laws, the Board appointed Jeff Adler to fill the unexpired term of Director created by Ted Waksman’s resignation as Director. To fill the position of President created by Ted Waksman’s resignation, the Board elected Carole Princer Levy President of the Brookridge Homeowner’s Association. Under the HOA by-laws, the same person cannot serve as both President and Secretary. Accordingly, the position of Secretary will be filled by Jeff Adler. Please note that, at the Annual Meeting held in June, there will be three vacancies on the Board of Directors to be filled. Anyone interested in serving on the Board should please contact Tom Pallman.

There being no further business before the Board, upon motion made and duly seconded, the meeting was adjourned at 7:40 pm.

Respectfully submitted,

Carole Princer Levy, Secretary

The next Board meeting will be held March 17, 2015, at the home of Carole Princer Levy, Unit #54 at 7:30 pm.