Bradford Farms Homeowners Association

Board of Directors Meeting

August 16, 2005

The meeting was held at the Madison Assembly of God Church and was opened at 6:00 pm.

Board Members Present: Jim Terry, Rosemary Terry, Philip Gaultney, Paul Hurst

Board Members Absent: David Seitz, Keith Ryan, Dick Clem

Property Manager Present: Lois Brown

Visitors Present: Jeremy Gibbs and Yvonne Boudreau

Reading of the Minutes: The minutes were previously approved via e-mail. After approval, the minutes were posted on the home page at http://bradfordfarms.com.

Treasurer’s Report: The treasurer has not signed the signature card. Because of some incorrect addresses in the database, Philip personally contacted some of the residents and told them their dues have not been paid for the year. The residents at 123 Green Springs Drive and 330 Bradford Farms Drive had not received a copy of the covenants and by-laws. Paul will take a copy of the covenants and by-laws to the residents at 123 Green Springs Drive. He will let Sharon Ditto know that someone needs to take a copy to the residents of 330 Bradford Farms Drive

Property Manager’s Report:

The amount of the capital improvement CD is $13,477.80

Total expenses for July were $4,306.64.

Total balance in the checking account is $27,872.28.

Total balance of HOA funds is $41,350.08.

Fifteen homeowners have not paid their dues.

Six of the 15 have promised to pay. All of the 15 have been contacted. Several letters were returned by mail. Some of the letters were hand delivered.

Nine of the people already have an outstanding lien.

The property manager will place new liens on these 9 homes.

There is a discrepancy of the owners of the vacant lots in the database. Lois will make the corrections.

There was a difference of $5583.54 in the July monthly financial report. The funds were used to repair the walls at the entrance to the subdivision and to paint and roof the gazebo.

The quit claim deeds to the three pieces of property that were in Mr. Breland’s name have been filed at the tax assessor’s office.

One resident who owes several years of back dues had requested an itemized bill for the back dues. The collection agency has provided him will all of the information he has requested.

The HOA income tax has been prepared at a cost of $468.36.

Total fees owed for 2004 and before amount to $8,030.00

Total fees owed for 2005 amount to 2,250.00.

Architecture Committee Report: No report.

Landscaping Committee Report: No report

Maintenance Committee Report: No report

Welcome Committee Report: No report

Old Business:

The tree trunk near the entrance has been removed.

Philip is looking for a better homeowner’s association software.

Jim presented a bid to have the muskrats removed from the pond. A decision will be made next month. Paul will contact the Madison County Extension Office to have them check the ponds to determine if the muskrats need to be removed.

New Business:

Jim asked Lois for the December mailings so he can review them and have addresses corrected prior to the mailing.

Tom Murray has not received the certified deed to his property from the attorney. Lois will take care of this.

The next Bradford Farms Homeowners Meeting will be September 20, 2005 at The Madison Assembly of God Church at 6:00 pm.

Respectfully submitted,

Rosemary Terry,

Secretary