SPECIAL MEETING OF THE BOARD OF DIRECTORS
April 13, 2005

Quorum: 
Joseph Sikora - President
Richard Ericson - Secretary

A Special Meeting of the Board of Directors was held at the conservancy Meeting House for the purpose of accepting unit owner votes to a proposed revision to the Conservancy Declaration.  

The general nature of the amendment was to change the requirement for the Developer, Culbro Homes II, to build four tennis courts as part of the Common Interest Community.  The proposed ammendment provided that no more than two tennis courts would be constructed.  (See attached Statement of Facts, and, proposed Ammendment)

Proof of Notice
Elite Management Company mailed a copy of the attached letter to each unit owner.

Call to Order
President Sikora called the meeting to order at 7:20 p.m.

New Business
President Sikora explained the purpose and intent of the amendment, stating that it changed the requirement in the original documents for Culbro Homes II to build four tennis courts as part of the conservancy amenities.  The amendment required only two tennis courts to be constructed, and obtained Culbro's commitment to pay the Conservancy $41,000 in lieu of the two courts not constructed.  The payment would be deposited in the Association's capital reserves.  The proposed amendment was based on a unit owner survey.  The results of the survey suggested that the majority of responders felt the existing tennis court was under-utilized, and therefore did not desire to bear the maintenance costs that would be associated with four tennis courts.  

President Sikora explained the requirement to obtain 80% of the unit owners' approval for the amendment, indicating 125 signatures would be necessary.  

Unit owners in attendance were then afforded an opportunity to sign amendment forms.

Adjournment
There being no additional new or old business, President Sikora adjourned the special meeting at 7:35 p.m.

Respectfully submitted,

Richard Ericson, Secretary

Approved:

___________________		_______________
Joseph Sikora, President			Date