NOTICE OF ANNUAL MEETING
To be held
Sunday, October 29, 2006
PACIFIC TERRACE HOMEOWNERS ASSOCIATION
The annual meeting of the Pacific Terrace Homeowners
Association will be held on Sunday, October 29, 2006 at 9:30 am at the Kelley House,
Members are asked to bring
to the meeting the materials accompanying this notice and to arrive early to
permit roll to be taken. We have and
extended agenda and ask for your help in moving through it efficiently.
The purpose of the meeting will be to fulfill the membership’s responsibilities for administering the Homeowners Association as provided in Article III, Section 1 of its Bylaws. Specifically, the membership will be asked to approve the annual budget, elect members to fill the seats of three Directors whose terms will expire, select a landscaping improvement option as part of the Renovation Project and approve any associated additional assessments to be paid by the members. In addition the Board will provide a status of the Association and the Renovation Project. Nominations for Directors will be accepted from the floor.
IF YOU DO NOT EXPECT TO ATTEND THE MEETING, PLEASE SIGN, DATE, AND MAIL THE ENCLOSED PROXY PROMPTLY. A QUORUM MUST BE PRESENT AT THE MEETING, EITHER IN PERSON OR BY PROXY, IN ORDER TO CONDUCT ANY ASSOCIATION BUSINESS. IT IS IMPERATIVE THAT WE ESTABLISH QUORUM TO AVOID FURTHER MEETING NOTICES AND ADDITIONAL ASSOCIATION EXPENSES.
To establish quorum for the meeting at least 51% of the members (24 Units) must be present or represented by proxy. A majority of the quorum must vote in favor of the budget for its approval and as well as for other regular business presented for consideration by the membership. Because the Landscaping Options may entail special assessments, passage of any option will require that at least 51% of the membership (24 Units) either present or represented by proxy vote affirmatively for that option.
MEMBERS ARE REQUESTED
TO ACCESS THE FOLLOWING INTERNET SITE AFTER OCTOBER 19, 2006 FOR FUTHER
INFORMATION REGARDING THE BUDGET, THE RENOVATION PROJECT AND THE LANDSCAPING
OPTIONS THAT WILL BE CONSIDERED DURING THE MEETING: www.drakesend.com
We look forward to seeing you at the meeting.
Stan Muir
Secretary for the Association
Meeting Agenda
Pacific Terrace Homeowners Association:
1. Call to order and roll call of owners (confirmation of proxies by Secretary)
2. Proof of notice of meeting or waiver of notice
3. Reading of minutes of preceding meeting
4. Annual update of the affairs of the Association presented by the President (Charlie Starr) and General Manager (Paul Tice).
5. Report on the financial status of the Association by the Treasurer (Mike Plymale)
6. Presentation of proposed annual budget for 2007 presented for consideration by the Treasurer (Mike Plymale)
Questions directed to Secretary regarding budget
Discussion among membership
Motions to adopt or modify budget
Vote
7. Election of two inspectors for the Director election
8. Election of Directors
Identification of 4 outgoing Directors: Terry Murphy; David Rosencrantz; Jerry Leshgold; Stan Muir
Indication by any outgoing Director of a desire to continue on the Board
Nominations of members wishing to run for Board; presentation of members that earlier expressed an interest in running
Discussion among membership
Vote by ballot (counted and confirmed by inspectors of election)
9. Report on Renovation Project status presented by the General Manager (Paul Tice) and the Treasurer (Mike Plymale)
10. Review of financials related to Renovation Project
a. Summary of total Renovation Project cost versus amounts spent
b. Summary of assessments levied and assessments paid on behalf of each unit
c. Identification of amount assessed for General Common Elements (“Landscaping”) versus projected cost to complete as presented last year.
d. Proforma report on refunds from assessments on behalf of each unit excluding Landscaping
11. Presentation of Landscaping Options developed for the Board with associated projected costs and schedules
Member Discussion of Landscaping Options
Vote – MEMBERS MAY VOTE FOR AS MANY OPTIONS AS THEY WISH. PASSAGE OF ANY OPTION REQUIRES APPROVAL BY 24 UNITS; IF MORE THAN ONE OPTION IS APPROVED, THE OPTION CARRYING THE MOST VOTES WILL BE CONSIDERED APPROVED; IF TWO OPTIONS ARE APPROVED BUT TIED IN VOTES, THAT CARRYING THE HIGHER ASSESSMENT WILL BE CONSIDERED APPROVED.
12. Unfinished Business
13. New Business
14. Adjourn
PACIFIC TERRACE HOMEOWNERS ASSOCIATION
2006 ANNUAL MEETING PROXY
October 29, 2006
Member Proxy:
KNOW ALL MEN BY THESE PRESENTS, that I (we) , the undersigned, being the owners of the unit(s) designated as Unit(s) _________/_______ in the Pacific Terrace complex, do hereby name, constitute and appoint the party whose name is set forth below which I (we) have marked to indicate that such party is to serve as my (our) attorney in fact and proxy for me (us) and in my (our) name and stead to appear and vote at the duly called 2006 Annual Meeting (as well as at any adjournment or adjournments of said meeting) on any questions lawfully to come before said meeting or adjournment thereof.
[ ] Charles Starr [ ] Don McNeil
[ ] David Rosencrantz [ ] Terry Murphy
[ ] Mike Plymale [ ] Chiane Kathrens
[ ] Patsy McKelligon [ ] Gerald Leshgold
[ ] Stan Muir [ ] _______________________ (write in)
I (we) hereby revoke any prior proxy or proxies heretofore given for this purpose and ratify and confirm that the above-named representative or agent may do by virture hereof. This proxy is for all the purposes that may properly come before the Annual Meeting of October 29, 2006 and any continuation thereof to time and dates certain. Except as to my (our) designation of specific matters and the manner in which to vote on said specific matters set forth hereinbelow, the person designated hereinabove as my (our) proxy, may cast my (our) vote as the person deems to be in the best interest of the members of the Association. This proxy shall remain in effect through the conclusion of said Annual Meeting and any adjournments thereof to times and dates certain necessary to obtain the vote of any many unit owners as are reasonably possible, but shall not be in effect later than one day before the next annual meeting.
However, if I (we) present myself (ourselves) in person and sign the attendance roster at any said meeting, or any subsequent meeting for which this proxy is intended, then this proxy is deemed null and void for such meetings as I (we) should attend in person.
I further direct my proxy to vote as indicated below regarding the following matters:
[ ] Vote in favor of the proposed 2007 budget.
[ ] Vote for each of the following individuals (no more than 4) to the Board:
1.___________________________________
2.___________________________________
3.___________________________________
4.___________________________________
OR [ ] Vote for whomsoever my proxy desires.
[ ] Vote as follows for the Landscaping Options: (Member: since options will be presented serially, you may indicate a vote in favor of as many of the Landscaping Options as you desire)
[ ] Vote in favor of Option A
[ ] Vote in favor of Option B
[ ] Vote in favor of Option C
OR [ ] Vote for any Landscaping Option so long as my assessment would be no more than $_____________, in total, to complete the Option.
Written special
instructions regarding other matters to come before the meeting:
____________________________________________________________________
____________________________________________________________________
Vote as my proxy deems appropriate as to any other matter or new business presented for consideration at the Annual Meeting.
IN WITNESS WHEREOF, the undersigned has executed these presents on this _____ day of October 2006.
(Both Husband and Wife should Sign)
Signature:______________________ Signature:____________________
Print Name:____________________ Print Name:____________________
Unit Number:__________________
If you cannot attend the annual meeting, please sign and
return this proxy in the enclosed envelope to:
Pacific Terrace Homeowners Association, c/o Paul Tice, Post Office