Highview Condominium II
Board of Directors - Meeting Minutes
September 25, 2002, 8:30 p.m.

The first meeting of the 2002-2003 Highview II Board of Directors meeting was called to order at 8:45 p.m. In attendance were Board members Victor Bellini, Sanchie Bobrow, Robert Boynton, Marg Cannon, Carl DiLorenzo, Stephanie Greenberg, Frank Mattera, Miriam Montalvo, and Virginia Re. All Board members were present.

The purpose of this meeting, held as required within 10 days of the Annual General Membership Meeting, was to elect officers for the coming year as prescribed by Highview II Bylaws.

There was discussion of the responsibilities of the four positions: President, Vice President, Secretary, and Treasurer. There was discussion of whether the Board is required to have officers. Bylaws require President, Vice President, Secretary, and Treasurer. According to the Bylaws (Article XI): "By-Laws may be modified or amended by approval of 66 2/3% in number and in common interest of all unit owners but only with the written approval of the holders, if any, of their unit first mortgages." In the estimations of several Board members, since the mortgage holding banks of owners are unlikely to support amendments except in case of compliance with state or federal law, such participation would be highly unlikely.

Discussion of the four positions continued:

President: As indicated in the Bylaws, the President acts as chief executive officer of the Condominium and presides at all meetings of the unit owners and the Board of Managers. The office holder has all of the general powers and duties which are incident to the office of president of a stock corporation organized under the Business Corporation Law of the State of New York.

Vice President: The Vice President agrees to take the place of the President and perform his/her duties whenever the President is absent or unable to act. The Vice President also agrees to perform other duties assigned by the Board or by the President.

Secretary: The Secretary keeps the minutes of all meetings of the unit owners and of the Board of Managers. The person has charge of such books and papers as the Board of Managers may direct; and in general, performs all the duties incident to the office of secretary of a stock corporation organized under the Business Corporation Law of the State of New York.

Treasurer: The Treasurer has the responsibility for Condominium funds and securities and is responsible for keeping full and accurate financial records and books of account showing all receipts and disbursements, and for the preparation of all required financial reports. In general, this person performs all the duties incident to the office of treasurer of a stock corporation organized under the Business Corporation Law of the State of New York. On a monthly basis, this officer receives for review a detailed record (including receipts) from the managing agent of all building expenditures.

The following Board members were nominated as officers and accepted positions as follows: Victor Bellini as President, Virginia Re as Vice President, Bob Boynton as Secretary, and Sanchie Bobrow as Treasurer.

There was additional discussion of the need for all Board members, not just the officers, to be involved issues and projects outside of Board meetings, chairing committees, etc.

In particular, Bellini and Boynton noted that their work load with the building had been considerable, requiring a few hours every week, and availability even when they were out of town on vacation.

Others present agreed that the all Board members should share in the work load and be willing to accept specific responsibilities and related accountability.

As Vice President, Virginia Re agreed to be the President's contact person with J.A.L. This will encompass all issues of repair progress and normal maintenance.

There was discussion of the frequency of Board meetings. The Board has a standing reservation on J.A.L. Diversified's schedule for the second Tuesday of the month, noting that Jennifer Ogman manages approximately 10 other buildings that also have monthly meetings on a standing schedule. However, the Board does not have to meet every single month. Boynton explained that the Board agreed late last winter to move from monthly to bi-monthly meetings, as long as monthly management reports were complete (log of repairs, correspondence from owners, fiscal reports, status of contracts and needed repairs, and legal compliance issues), and as long as there was no critical issue for substantial discussion. As the entire Board has access to email, many decisions/votes can be comfortably conducted by email, using a majority of the full-Board (5/9) for passage.

It was suggested that the next Board meeting take place in November. However, it was pointed out that there are numerous issues for the new Board to become familiar with as soon as possible including current legal actions against several owners, continuing negotiation with CoinMach, reaching closure/approval of the new elevator floor, replacement landscaping once the excavation work in front is completed.

Accordingly, the Board agreed to a regular October meeting with management at the regular date and time (7;30 p.m. on the second Tuesday of the month -- October 8, 2002 at 7:30 p.m.). The location will be determined by the new President, Victor Bellini..

The meeting was adjourned at approximately 10:00 p.m.