MINUTES OF THE ANNUAL GENERAL MEETING OF THE COMMUNITY OF OWNERS , SITUATED IN THE URBANISATION OF LAGO JARDÍN – I, MUNICIPALITY OF TORREVIEJA (ALICANTE), ON FRIDAY 4TH MAY 2012.

ATTENDING (PRESENT AND REPRESENTED: 56

HOUSES Nº:4(R), 7(R), 10, 16(R), 17(R), 21(R), 22(R), 27(R), 28(R), 35, 37(R), 41(R), 43(R), 44(R), 50(R), 51(R), 53(R), 54(R), 61(R), 62(R), 64(R), 70(R), 73(R), 77(R), 79(R), 85, 87(R), 88(R), 89(R), 95, 99(R), 107(R), 108, 109(R), 110(R), 111(R), 115(R), 122(R), 129(R), 130(R), 141, 145(R), 154, 156, 158(R), 159(R), 162(R), 170, 183, 185(R), 186(R), 195(R), 198(R), 200(R), 207(R) & 208(R).

          The meeting began at 10:35am on Friday 4th May 2012, being the second attempt to call order as a quorum was not achieved on the first. The above mentioned owners met at the RESORT ORIHUELA-COSTA, La Zenia, Orihuela-Costa (Alicante), for the Annual General Meeting of the Community of Owners with respect to the following Agenda.

          Agenda:

1. 1.Management Report.
2. 2.Approval, if granted, of the accounts for financial year. Listing of debtors, amounts outstanding and decision to be made regarding appropriate action to take.
3. 3.Election of Management Committee.
4. 4.Budgets for financial year 2012. Community charges and payment periods for these.
5. 5.Any Other Business.

Once the President Mr. Larry McKinney and the representative of the Secretary-Administrator, Mr. Gil greeted all those in attendance, the meeting began with a reminder that those owners who were in arrears with their community fees, did not have a right to vote (Article 15.2 L.P.H) and the following agreements were adopted.

1.- Management report.

The President took the floor and thanked Mr. Bob Gilchrist for all his help with the maintenance of the Community and to all the owners who have collaborated to the good functioning of the community. Before continuing, Mr. Gil apologised for the absence of the Community Lawyer, Mr. Salvador Fernández, who had been called urgently to his father in hospital. We then moved on to discuss the various and diverse issues relating to the Community.

-          Legal Affairs – We currently have several court cases in process as well as others that are waiting for sentences to be handed down. However, several owners requested a meeting with the people involved in judicial affairs, i.e. the Mangement Committee of Manzana II, the official and legitimate community Administrator, Pentagono Multiservicios S.L, the lawyer for the community, Mr. Salvador Fernández and Torrefincas, represented, as a mediator, by Ms. Mona LaaksoSaez. It was said that it is difficult to reach an agreement and a solution; because all these matters are currently in the courts the decision therein must be respected and complied with. The President was very convinced that we can reach a final solution at such a meeting and that it would be in the best interest of the community. There was a debate and several owners maintained the position that it would be a positive gesture for all if the different parties met.

-          Water Meters.- Due to the lack of Community funds, we have not been able to pay the water bills and we still owe money to AGAMED, approximately €4,000, (including the costs of reconnection and surcharges). The Administrator has been in contact with AGAMED in Torrevieja to negotiate splitting the payment of the existing debt and paying in instalments

-          General Expenses - in the previous year we had various expenses, including the protection against insects∕pests through a specialized company, drainage works, insurance, Administration fees and garden maintenance.The President appreciates the maintenance of the garden made by Mr. Mario Mora and expected to pay such work and services on time. One owner disagreed with the payment of € 4,800 to ManComunidad, because that that money could go to some other more important spending as, for example, bills for the community water.

2.- Approval, if granted of the accounts for financial year 2011. Listing of debtors, and amounts outstanding and decision to made regarding appropriate action to take.

The representative of the administrator took the floor to report on the accounts of the fiscal year 2011, which was sent along with the call to this meeting. Before the vote, Ms. Laasko-Saez, a lawyer and the Vice President, Ms. Tarja, said that according to their point of view the accounts for 2011 are incomplete, mainly due to the fees from owners that have been paid into another account. The Administrator’s representative said that the accounts that have been sent are the ones that correspond to all the movements made in the official account of the community and can be accredited by a certificate issued by the Administration of Finance of Orihuela. It is not his responsibility if there had been owners who have paid into other accounts as he was not aware of these accounts, nor the amounts paid.

The matter was discussed and put to a vote. The Assembly agreed, by an absolute majority, (14 votes in favour, 12 against and no abstentions) to approve the accounts for the fiscal year 2011. Likewise, the General Assembly approved by an absolute majority (14 votes in favour, 12 against and no abstentions) to approve the relationship of debtors and amounts due on May 4^th 2012 , and granting the President such extensive powers as appropriate in law to lawyers and/or attorneys for taking legal action against them. The relationship of debtors adopted on May 4^th 2012 is the following:

          Finally, the Assembly agreed that court proceedings begin first against owners who have not paid their fees in full and / or have made no payments.

3.- Election of Management Committee.

          Before the election of the Management Committee, at the request of several owners, the President stated that the current Committee is prepared to continue with the support of the owners.

          Mr. Andrew Wheeler (House No. 130) was put forward to join the Mangament Committee.

          The matter was discussed and put to a vote. The Assembly unanimously agreed to appoint the following Management Committee, being that all charges are accepted by the parties concerned.

PRESIDENT:                            MR. LARRY MCKINNEY (CASA Nº 10).

VICE PRESIDENT 1º:      MRS. ANN MARIE LICHTFOOT (CASA Nº 85).

VICE PRESIDENTE 2º:    MRS. TARJA MURROSVIRTA (CASA Nº 156).

MEMBERS:                    MR. JOHN HUSKISSON (CASA Nº 103).

                                       MR. ANDREW WHEELER (CASA Nº 130)

SECRETARY-ADMINISTRATOR: PÉNTAGONO MULTISERVICIOS, S.L., represented by

Mr. Manuel J. Agüero.

          Finally, it was reported that the Management Committee will meet monthly to discuss the affairs of the community.

4.- Budgets for finacial year 2012. Community fees and payment periods for these.

Having seen the result of the financial period 2011 as well as future projections, it was proposed to the Assembly to continue with the same budget and fees as approved for the fiscal year 2011. Obviously, some items in the budget will vary due to the increases of the I. P. C., etc., but the total amount will remain the same. The matter was discussed and put to a vote. The Assembly agreed unanimously to approve the proposal. Finally, the Assembly unanimously agreed that the payment periods are every six months, specifically in the months of January and July, and to apply surcharges approved by the Community from February 1 and August 1 respectively.

5.- Any Other Business.

          The following matters were discussed:

-Mr. Hailwood (House No. 170) asked if we have already started the legal proceedings against the owner of the house No. 149 for the works carried out without permission from the community, as adopted by the last session of the General Assembly. The representative of the Administrator replied that the case was handed over to the lawyer who has already started all the relevant legal proceedings.

- An owner warned that drains are collapsing because they can cause damage to the pedestrians. The Management Committee said that they have requested quotes to repair those drains affected.

- Our Community has a web page where you can access all the information and documentation once you have registered. The web page is the following: www.comunidadlagojardin1manzana2.com

- A request is made to all owners to provide their e-mail data to the President or the administrator, which will make it easier for fast and effective communications.

- There were questions on card access to the pool. The President will be in contact with the community lawyer about this.

          And with no other matters to discuss, the meeting was closed at 13.30pm on the date that heads this document; I as Secretary swear that this is a true record.