THE RIVER OAKS PLACE COUNCIL OF CO-OWNERS, INC.

BOARD OF DIRECTORS MEETING

WEDNESDAY, AUGUST 25, 2010

MINUTES

The Board of Directors meeting for River Oaks Place Council of Co-Owners, Inc. was called to order at 7:05 p.m. Those present were David Brashear, Ruth Simmons, Sandra Stettler, Lindsey Word, Neil Koenig, and Jackie Wright representing the managing agent.

HOMEOWNER FORUM

Those present were Tom Fox, Wilson Barbee, Mae Holm, and Luis Salinas.

Tom Fox addressed the Board to inquire about the budgeting process and the reserve study. Management advised that the budget is based on past expenses, planned projects, and necessary repairs. Capital projects are not part of the annual budget so the reserve study does not come into play.

The Board answered a question from Wilson Barbee regarding whether or not an owner can rent the pool for a private party, stating that it is not allowed because it is an amenity to be used by all residents.

Mae Holm expressed her concerns with landscaping, and the Board explained that recent improvements have been made by Juan, and they reported that the contract with Young Professionals Landscaping is scheduled to terminate effective at the end of August. Landscape Management Services (LMS, Inc.) will take over all lawn care effective September 1, 2010. Juan will then become responsible for all landscaping care at River Oaks Place, other than mowing, edging, and care of grass throughout the complex.

APPROVAL OF MINUTES

Motion was made, seconded and carried to approve the minutes of the August 4, 2010 Board of Directors meeting and Executive Session as written.

River Oaks Place Minutes

August 25, 2010

Page Two

FINANCIAL REPORT

The Financial Report was reviewed and accepted as presented.

UNFINISHED BUSINESS

Management presented the contract from LMS, Inc., which was signed by David Brashear, President.

Management presented the new vehicle stickers. The Board requested that all old stickers be collected and that each unit be provided with no more than two vehicle stickers. A log-in sheet will be used to document distribution.

After discussion regarding whether or not to install razor wire on the Clay Street wall, the Board voted not to have it installed at this time.

NEW BUSINESS

There was discussion regarding maintenance of interior breaker boxes in the units, and it was noted that owners will be required to replace their breaker boxes when or if a breaker goes out due to the fact that the boxes no longer meet City Code. David Brashear will provide information regarding a retrofit kit that can be used when replacing them.

The Board voted to approve the expenditure of $2,400 for landscaping improvements between now and the end of 2010.

There being no further business, the meeting was adjourned to Executive Session.

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Approved Date