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April 10 2017

Board of Supervisory Committee
Tao Master Condominium

Assistants: Monitoring Committee Tao Master Condominium.

Phase I: Dwain Saunders LR 4
Phase II: Jose Galarza TH 12
Phase III: GBP Hotel Condo represented by Isaac Henares
Administrator: Ricardo Maya A.

Order of the day

1.-Establish a communication section for the owners using the Newsletter in a FAQ format by dividing the topics according to the area in HOA themes, TAO developer themes, wellness center themes and these questions are Answered by the representative of each entity.

The point was discussed and it was agreed that for the following edition of the News Letter (May) a question section (FAQ) will be included where the most common questions that were received will be answered, by the representative of each corresponding HOA, TAO, WC.

2. - Questioned the subject of the reserve fund that during 2015 was included in the annual budget, how was used which units were affected, how much was paid and what is not yet collected.

The administrator will prepare a report to be reviewed by the committee.

3. During the assemblies of February 2016, the administrator was asked to analyze a policy of discounts for payments in advance of maintenance fees.

The committee analyzed the issue and came to the following conclusion because it was not considered a discount for the budget of Revenue and Expenditures of 2017 would be very difficult to implement it at this time since many owners have already made payments in advance for the whole year and were not applied any discount, on the other hand, the operating expenses of the condominium were calculated with 100% of the income on projected quotes, by making a discount this would affect the annual budget presented at the 2016 assembly.

The administrator is instructed to take into account for the 2017 assembly and budget a discount for advance payments under these conditions in annual and semi-annual payment.

Advance payment discounts 2018 maintenance fees

The system will be programmed so that within these dates the discount will automatically be applied, if you pay on different dates than those already programmed in the system, it will have to be manually, that is, you will have to notify the administrator of the intention to pay in advance so that the discount can be programmed in the system and the owner can do it and when making his payment obtains his discount.

In monthly payments there will be no discount and the payment date of maintenance fees is from 1 to 10 of each month, after this date the fees will automatically be affected with 5% interest.

4.-Establish policies and rules for the companies that provide the Property Management service, to verify that they comply with the law requirements to operate to ensure that there is no civil and / or criminal liability for omissions that could affect HOA.

Important points to consider:

• Damage insurance to third parties,
• Employees with legal benefits (social security),
• Payment of corresponding taxes,
• Operating licenses,
• Uniforms,
• Badges, employee registration
• Work schedules,
• Etc.

On this point the administrator was asked to work on an operating regulation for the Property managers companies, once it has been reviewed and approved by the committee, it will be launched and all the companies that provide the service will be informed about the necessary conditions to carry out their activity within the Tao condo and what are the registration documents that they must deliver to HOA to be registered as authorized providers for the provision of services within the Tao Condominium.

Those who do not meet the requirements will be denied to entry to the condominium since they represent a responsibility to HOA and its associates.

5.-Property manager companies offices within private condominium units.

On this point it was discussed that the offices of these companies located in some units of the condominium create annoyances to the residents and inhabitants due to the constant traffic of personnel and suppliers it was agreed that according to the regulation all the units are of exclusive residential use reason why the administrator is instructed to search for alternatives in the short term to prohibit these companies from using these private residential units for commercial purposes since it could be generated that anyone can use the residential units as commercial (offices, clinics, etc.) creating a problem In the community.

The administrator, RM, commented on this point that it would be important to contemplate a project on this subject including a current HOA problem since employees who work directly in the HOA (maintenance, cleaning) do not have a bathroom or dining area and that inside of the scope of the project could be contemplated to build 3 commercial offices with bathrooms to rent the property manager companies and a service area for HOA employees at the same time these commercial modules could generate income to the HOA and solve the problem of using private units as offices.

The area that could be contemplated for this project is the garden located next to the current HOA offices, a project and budget will be elaborated with the support of the developer to be reviewed by the committee.

6. - The subject of security in the condominium was put on the table, on the control of the same access for residents, visitors, employees and suppliers, so the administrator was asked to elaborate a plan to be reviewed by the committee.

The administrator will prepare a plan as soon as possible to be reviewed by the committee for approval and implementation to improve security and access control in the condominium.
7. - The administrator was asked about the status of the Cassandra administrative system and when it will finally be operating.

• The administrator gave the report of Cassandra, to this day the part of income of Cassandra is 100% functional although it is not automated since the income is received in the HOA portal and manually up loaded to the system, due to which has not been able to operate the payment platform (OPEN PAY) since there is the problem that banks are not accepting international transactions and reject many of the cards (more than 50%) which would affect the collection enormously

• It was proposed that for the moment we continue to use the HOA portal to receive only the payments which is 100% working but we will automate it by integrating HOA Portal with Casandra, both systems are already being programmed to work together, fully integrated as of May 15, 2017.

• Expenditures 2017 are being uploaded to the system they will be ready on May 10, 2017.

• The 2017 fact sheet, regulations, minutes, news will be ready by May 5, 2017.

• Once these works are completed, Casandra can be launched to all owners, they will be sent the complete information on how to use the system and all their doubts will be answered from May 15 to June 1, 2017.
• Official release date June 1, 2017.

Other themes:

The administrator informed the committee that he had business relations with Banco Base, in order to offer the owners the opening of bank accounts in Mexico, to send and receive electronic transfers from the United States at a very low cost, this account would serve to make HOA payments and services (Telmex, Agua, Luz, etc.) in Mexico from the US through bank transfers without commissions. They will be informed of progress and whether it is viable to continue negotiations with Banco Base.