Exeter Homeowners Association

The Association’s Board of Directors held their regular monthly meeting at 7PM on Wednesday, December 1, 2004 at the Exeter Clubhouse in Leesburg.

- The financial summary through 10/31/04 is as follows:

Operating Account $63,792.87
Reserves $549.352.59
Delinquencies $18,657.66

Summarizing the meeting, the Board:

- Adopted the following resolution: The Association elects to apply all or part of the excess assessment income to the following year’s assessments and that such final amount shall be at the Board’s discretion.

- Approved retaining the 3-month $100K Certificate of Deposit with BB&T with interest earned placed in the Merrill Lynch account.

- Approved reinvesting the 3-month $100K Certificate of Deposit with Frederick County with interest earned placed in the Merrill Lynch account.

- Adopted Policy Resolution No. P04-003, Property Violation Enforcement Guidelines and Procedures (PDF).

The Board went into Executive Session from 8:15PM to 9:30PM

The Meeting adjourned at 9:32PM.