May 8th 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 HOA themes, TAO developer themes, Wellness center themes and that these questions are answered by the Representative of each institution.

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

2. - We questioned the subject of the reserve fund that during 2015 was charged to some units and then continued to charge the new units which has caused confusion with owners and ask us for an explanation.

After studying the situation of the reserve fund, it is concluded that all the units have to contribute to this fund as it is required by law.

Regulation definition reserve fund. (Regulation TAO master)

Reserve fund: Is the fund intended to acquire or cover the replacement of assets (Implements and machinery) and that are not included in the annual maintenance budget of the condominium master or sub-condominiums.

Reviewing the accounting this fund was loaded in 2015 to the 150 units that existed at that moment to the present day only 119 units covered this quota in the amount of $ 551,382 pesos we have pending collection 31 units for an amount of $ 142,876.00 pesos.

As of May 2017 we have 298 units active in HOA, so we would have to charge the reserve quota to 148 units for an amount of $ 705,960.00.

It is established that all new deliveries will have to pay on delivery the first month their maintenance fee plus contribution to the reserve fund.

This was established that would be fixed for all the units in the amount of $ 4,770.00 pesos

A statement has to be prepared for the missing units to pay this fund, clearly explaining the origin of the fund, the current situation and the law requirement this fund.

The instruction was directed to the administrator that the $ 551,382.00 pesos collected to date be transferred into an investment account apart from the current expense account, and in order to access such funds requires the authorization of the vigilance committee.

3. - Offices of Property manager companies.

A project and budget are being prepared for study and approval.

4. - The access plan that the security department will have to carry out was presented and the quotation of the check points that are going to get placed throughout the community was presented. The access plan and the quotation of the check points are authorized, these have already been requested from the supplier, and the payment of these will be made on Friday, May 12.
They are expected to arrive at the HOA next week, and these will be placed as soon as they arrive to the community.

A separate entry will be set entirely for all HOA and Property management’s workers. This is to have a better control of all the personnel that enters and leaves the community. A second security booth was ordered to be able to carry out this; the quote will be given to HOA next week between Monday and Tuesday to be authorized.

5. - Policies and rules for property manager companies. It was presented to the table the policies and regulations of the property managers, this communication will be sent on May 10, 2017 to the owners and these agencies.

This regulation will apply as of June 1, 2017. The agencies have until this date to present all that is being requested by HOA. Failure to comply with this we will deny them access to the community.

6. - The notice and the regulation of the pets were presented.

The communication was approved, and will be sent on May 9, 2017. Along with it will be sent the regulation of the pets that are in the regulation of the master condominium master Tao and the statement signed by the vigilance committee.

7. - It was commented on the subject of pergolas and mosquito nets in the community and the regulation on these

On this subject it was commented that they do not see the reason for which to deny that they are still placing the pergolas and mosquito nets since they are an added value to the units and is very appreciated by the owners.

However, there is concern that in the event of a hurricane or storm, they cause damage as there is no structural calculation for the installation of the same, so the administrator is asked to study the issue and for the moment not to authorize that the matter of the structural calculation is solved.

8. - The price of the defibrillator was presented. The purchase was authorized and it was commented that it was necessary to buy a more complete medical kit to provide emergency service as well as to train the security personnel, a meeting with the safety company on this subject will be held.

Other themes:

Discounts are granted for annual payments and 6 months for next year.
6% discount for the year payment and 2% discount for payment of 6 months payment. Bahía Príncipe is changing its scheme and security plan, it is important that we meet with Luis de BH to talk about this.

A sign should be placed for the location of the HOA office, as many homeowners do not know where it is located and reach the Residencies Lake home. It was established that the committee meetings will be the first Tuesday of each month at 10:00 A.M at the TAO offices.

We touched on the issue of rotation of security personnel; we talked about the possibility of establishing a fidelity bond to security elements to avoid rotation. It was agreed that the manager should hold a meeting with the safety company to analyze the issue.

• Bonus
• Profile of security personnel.

We talked about the transport of the beach club, which is not contemplated in the budget 2017 will analyze some options and budget before submitting it to the owners

• HOA shuttle project
• Taxis
• Private transportation

Antonio has to meet with the taxi drivers union to see if they can provide us with a fixed and low rate to be able to transport the owners to the beach club.