Sipsey Overlook HomeoⅥmerS Association (SOHOA)

Annual Meeting

November 12, 2011

Owner(s) �Lot(s)

PatrickLee �67

RandyHonea �103

DavidFikes �4,6,23,27,37,99,131

G糾yFew �18

WaltVIglienzone �129

WaltraudLawaczeck �60

Charles,Kathy,&DestinyCarter �48

PatrickCummings �45

Mike&JudyRoberts �2

JoeSasso �89

A請endees :

The mee血g was called to order by the SOHOA President, Patrick Lee. V活elcoming comments were

made and those members of the board that were present were introduced (Patrick Cummings and

Joseph Sasso).

The first order of business was to assure that there was a quorum.血hand were 68 proxies (ten (10) for

Patrick Lee, twO (2) for Waltraud Lawaczeck and珊y-Six (56) for the Secretary) along with血e

attendance of the owners of 16 1ots for a total of eighty-four (84) which is twelve (12) more than the

required minimum.

The minutes from last year-s mee血g were approved with the proviso that the names of Pat Lee and

Drew Samples be added as the parties who met with the water authority and assistant county engmeer

and the co虹eCted minutes be included herein as fo11ows:

“ve began by discussing the financials conceming the water pr匂ect. The Water Pr〔g匡ct was

COmPleted in September. We伊的高話Lee a!nd Drew Sanやめs) met with Curry Water and the

County Engineer on September 15’2010 and created a punch list of things to complete. These

items were completed by Curry Water Authority and the Contracton We also had expenses

incuned by the board to attend meetings with Curry Water Authority and the Contractors on the

PrQject. These were approved (Expenses Attached).’’

The next topic discussed was the road which is covered in the next several paragraphs. The primary

COnCemS Were Who is responsible for the roads and the existing狐d餌ure detehoration of them. Does

Alabama Land Pa血ers (ALP) s血I have an obligation or did Winston County take them over and is

Subsequently responsible for repairs. Mike Roberts at the request of the Board talked with Winston

County o範cials. One gets di節erent infomation from di範nent peap]e. Orig担al docunentation

regarding瓜e county assuming the roads could not be located.

The Board discussed the issue of roads during virtua11y every one of its meetings during the past year.

1

Sipsey Overlook Homeowners Assooiation (SOHOA)

AⅡn脚賞M∞t血g

November 12, 2011

It decided to engage the services of an attomey to perfom an inquiry. Richard W Be]l, located in

Bimingham’WaS Selected. On June 27’201l, Mr. Be批eported to the Board with a sumary of his

inquiry. He received the most defiritive infomation from M購Hobson Manasco’Jr’Who is the county

attomey for Winston County. Quo血g from sections of Mr Bell,s letter:

``Mr. Hobson has infomed me that the roads within the Sipsey Ovedook subdivision

are’indeed’COnSidered to be public roads in Winston County, Alabama. However, due

to disputes with AL. Land Partners’the county has taken the position that there win be a

five (5) year period during which any re-Paving or “mgivr” paving would be the

responsib址ty of the developer, AL Land Partners, LLC.,,

and later in his letter

“血conversation with Mr Hobson Manasco’the county attomey for Winston County,

Alabana・ he indicated that he did not feel there would be a problem with瓜e county

doing minor type pothole repairs on the roads in Sipsey Overlook subdivision, however,

if there was a complete rapaving of subdivision streets during the period of five (5)

years from the date that the streets were accepted as public roads by Winston County,Alabama’these roads would have to be paved by the homeowners or by AL Land

Other ma備ers addressed in Mr Bell,s letter relate to AL Land Partners indica血g them as an LLC and

the mamer in which it structured its development of Sipsey, aS Well as other prQjects, it is devoid of

assets.血Mr. Be11,s opinion there would be no pos§ibility of recovery of any danages against the LLC

Should SOHOA decide to pursue a lawsuit. That notwithstanding’Mr. Be11 reported that there are two

(2) ongoing lawsuits against AL Land Partners. Mr. Be皿offered these thoughts regarding the mgation

against Mr. Loren Dickey or AL Land Partners’LLC: the cost versus the bene紐, litigation becomes

Very expenSIVe and protracted with these kind of issues and that any judgment in favor of the

homeowners would simply be anのempty,, victory due the lack of assets in the LLC.

So what should SOHOA do regarding the curre加state of the roads in the subdivision? There are a

number of areas that req皿e SOme degree of repain A suit against AL Land Partners would批ely be

Very COSt量y and言f successful’WO山d not likely yield su縦cient tangible assets to cover suit costs let

alone provide funds for repair and maintenance of the subdivision roads. Fu血emore’Winston Co皿ty

has indicated that it would do距1e more than minor patching. Besides that the County does not have

the money to address o町road issues・ Other subdivisions that have been contacted that are in a肱e

Situation are addressing the issue by budgeting for the needed repairs and perfoming them themselves.

Discussion tumed in this direction. Genera11y’those present were favorable to the idea of setting a

Certain amount aside in the budget each year to perfom repairs and malntenance to the Sipsey roads.

A suggestion was made that we raise questions now and when we discuss血e budget get to the specifics

Of what we can do. Discussion that foflowed generally adhered to血e offered suggestion.

David Fikes has had contractors out to Sipsey to look at the roads and has gotten some bids for repar

WOIk. Recommended were Massey Asphalt out of Jasper and Dum Construction Company from

Bimingham. A suggestion was offered that we get the county engineer out to review the roads and to

2

Sipsey Overlook Homeowners Association (SOHOA)

Armual Meeting

November 12, 2011

Say What needs to get done. It was felt that the englneer WOuld not come since Winston County has

accepted the roads but maintains the position that AL Land Partners is responsible for mgivr structural

repairs for the first five years. The feedback that we got from the contractors is that the roads in Sipsey

Overlook are constructed to specification; they are the preschbed twenty-One feet (2 1 , ) wide. Our road

PrOblems are in areas that were cut-down during construction. It looks as is ifALP basically did a good

job. Moisture crossing the roads is causmg some of血e problems. There are a few pack issues, tOO. A

question was asked as to what contractor perfomed the ALP Sipsey work. We do not know and nointerest was expressed to pursue that further.

Summarizing the two (2) quotes:

Massey - $11,800, nO m年ior rewock.

Dunn - $96,000, includes cuts in the road and some re-basing.

There are about twenty (20) spots each about 24’by 20’where gravel is giving way. Mike Roberts

COrments that it is important to get the compaction correct in those areas. He noted that bunding truck

tra範c will tear up the roads. In his opinion to get long tem value for the subdivision, We Wi11 need to

tar and gravel the roads at some point. In David Fikes,s opinion we will need a special assessment of

SOme future date to put "real" roads in, but in the interim we should only do repairs as necessary.

Discussion bounced around at咄s point and brought forth the points that Sipsey homeowners cunently

Pay $86,736/year in property taxes. This ought to co皿mand some attention and service from the

COunty. True enough, but most of us do not vote in the county. Shou書d we decide to pursue ALR ALP

is且oted as the owner of Tlact A (-2 acres) in the subdivision.

After a quesdon about forecIosures of lots was raised, Pat Lee stated that eighteen (18) lots had been

forecIosed. CurI℃ntly lots 15・ 101’102・ and l18 are owned by lst Bank ofJasper and lots 36 and 40 are

OWned by BT&T and Wells Fargo, reSPeCtively.

Tuming to the 2012 budget’discussion started with cash and assets. SOHOA has year-end cash on

hand as follows:

Yさar End BaIances

Cash We=s Fargo

Cash First Bank 」a§Per

CD We=s Fargo-鴫tal C∂Sh

S60,022.7与

Sll,240.与3

S20,981.24

S92,244.与之

SOHOA also holds title to Iot 78, but since it cannot build a boat launch there, there is no reason to

COntinue to own the lot. SOHOA also owns Tbm Hoven Pak, 14 acres across from somewhere around

Lot 81 and a smal〃 track adjacent to Lot =3 that needs to be deeded back to the owner ofIJOt l 13.

For income, the board is prQjecting the construction of tlree (3) new houses in 2012 which will provide

$900 in architectural fees. Sone $21’700 is included in income so町Ced as 2012 dues that are being

Withheld from water assessment refunds. We have backed out of the budget income, unPaid water

assessments and annual dues that are deemed to be not likely collectable. (Note: the board through an

attomey has submitted le請ers to those lot owners that have not paid their water as§eSSmentS nOtifyi.ng

3

Sipsey Overlook Homeowners Association (SOHOA)

Annual Meeting

November 12, 201 1

them of pending action by the SOHOA to place liens on the properties’tO aSSeSS delinquency penalties,

and to possibility forecIose if arrangements are not made for payment with the SOHOA Board in the

SPeCi丘ed timeframe. )

Digressing to a boat launch discussion, David Fikes the owner of lot 23 has detemrined that it would

COSt $40,000 - $50’000 to build a boat launch on that lot that would meet the sp∞班cations for public

use should SOHOA be interested in acquiring that lot. However, he has leamed that a boat launch

COuld be built on a private lot for private use that the owner could then grant others a right to use.

David also stated that he might be interested in acquiring lot 78. However’Since lot 78 i§ OWned by the

SOHOA’its disposition wou]d have to be decided by an act voted on by a11 members.

As 2012 budget expenses were discussed,血e matter of the roads was brought up again. A motion was

PreSented giving the Board the authority to spend up to $15,000 in 2012 for road-related legal expenses

and road repairs combined without coming back to the member body. The motion was seconded and

approved with one vote in opposition. Note: this motion would reduce the proposed expense line itemfrom $8000 to $4’000 for other legal activity. Subsequent discussion revealed a misunderstanding

regarding the initial intent of the motion in that the proposer,s desire was to maintaln a separate line

item for legal activity such matters as liens and forecIosures. The sum of $15,000 for road repairs and

maintenance and any related legal action was retained.

Member present strongly felt given what Sipsey Overlook owners are paymg in taxes, We are nOt

receiving services expected. It was recommended that the address(es) of the Winston County board

members to whom home owners could send letters. The addresses will be posted on the Sipsey

Overlook website (http : //www. sipseyoverlook.com/).

The road situation received additional discussion. Understanding that the construction of new homes in

the subdivision i§ having the greatest impact on the roads it was proposed and moved that a $3000

roads assessment fee be 】evied as the homeowner receives approva] for construction with the monies

for road reserves.皿s motion was allowed only under the assumption that it was something that can be

done without a Special Meeting. This would become e節ective January l, 2012 with no舶cation to

SOHOA membership prior to enactment. The board will detemine if a special mee血g would be

required to take such action that invoIved new fees on the membership. Discussion included whether

to assess those who have already built since their construction activity has contributed to the c皿ent

State Of ’血e roads.珊e motion was seconded. Two (2) voted in favor, the majority opposed.珊ere was

also discussion about the altemative of raising the annual dues by $ 100/year.

It was proposed that the Board send a letter to al] members regarding the state of the roads and the

impact that construction is having and that there is consideration of imposing an assessment of $3000

When application is made for construction approval・ It was so moved and seconded with unan血ous

approval.

Pat Lee has decided not to continue on the board. Three existing Board Members (Brian Hinson (Lot

46)’Joe Sasso (Lot 89)’and Lance Taylor (Lot 34) have one year remaining on their tems. We need to

elect two new board members’both for a two year tem. Patrick Cummings (Lot 45) agreed to remain

On血e board As the Board is required to have five (5) members, David Fikes was nominated to serve.

He respec血Ily declined due to a perceived conflict of interest (SOHOA contracts with David for

4

Sipsey Overlook Homeowners Association (SOHOA)

Annual Meeting

November重2, 2011

1andscape services in the subdivision.) Without another no血nee a motion was made to approve the

Patrick Cummings nomination and for the board to appoint the軸h position at its first meeting in

2012. The motion was seconded and approved.

The meeting was a〔鞠Oumed.

JoeSasso

廿easu重er

Sipsey Overlook Homeowners Association

NOTE: Subsequent to the meeting - Without a珊member - Pat Lee agreed to serve one more year

and will remain as President during that time.

Any questions can be directed to the Sipsey Overlook Web Site (Sipseyoverlook.com or

SIPSeyOVerlook.ong) On fin狐Cial matters please contact Joe Sasso (垂逆ntureS@gma垂些かOther

matters contact Pat Lee (里Lee @xsp,CQ坦).

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