Resolution 1

CLOVERLEAF CENTER CONDOMINIUM

RESOLUTION

Whereas, Article III, Section 2 of the Bylaws for Cloverleaf Center Condominium (“Cloverleaf”, the “Condominium”, and the “Bylaws”) authorizes the Board of Directors (the “Board”) to determine the common expenses required for the maintenance, upkeep and well being for the Community, and

Whereas, Article III, Section 2 of the Bylaws, in accordance with § 11, 110b, No.2, (ii) of the Real Property Maryland Condo Act, requires the Board to ensure the care and maintenance of the Common Elements, and

Whereas, Article V, Section 16 of the Bylaws authorizes the Board to undertake additions, renovations, alterations or improvements which, if not made, could reasonably result in a threat to the health or safety of the Unit Owners or a significant risk of damage to the Condominium, and

Whereas, Article V, Section 16 of the Bylaws states that the cost for such additions, renovations, alterations or improvements are a common expense, and that such common expenses may be assessed only to the class of Unit Owners that benefits from such expenses, and

Whereas, Article V, Section 4 of the Bylaws states that any special assessment to meet the common expenses of the Association may be levied by the Board upon resolution thereof, if such expenditure is required by conditions which, if not corrected, could reasonably result in a threat to the health or safety of the Unit Owners or a significant risk of damage to the Condominium, and

Whereas, the Board deems it necessary, for the health and safety of the Unit Owners, and to avoid further significant damage to the Common Elements of the Condominium, to undertake repairs to the Plex Unit buildings, and

Whereas, one of the seven Plex Unit buildings has been substantially repaired, but the Board’s previously levied special assessment for this repair was stayed in response to a Complaint, and

Whereas, the Board desires the approval of the Association before levying a special assessment of this magnitude,

Now therefore be it resolved that:

1. A special assessment in the amount of $14,100 shall be levied upon the Unit Owner(s) of each Plex Unit. This assessment is a lien due on January 1, 2010.
2. The Cloverleaf Board will negotiate and enter into contract(s) to complete the repairs to the Common Elements of the Plex Unit buildings. Repairs to six Plex Unit buildings not previously repaired will be performed simultaneously.
3. Payments previously made for the special assessment that was stayed will be credited against this lien. Payments for this special assessment may be made in monthly installments, over as many as sixty (60) months. Payment of $235 will relieve this lien in five years, with a last payment on December 1, 2014.
4. This lien will otherwise be subject to collection action in accordance with the governing documents of Cloverleaf Center Condominium.
5. This Resolution shall be submitted for the approval of the Cloverleaf Plex Unit Owners.
6. Upon approval, Cloverleaf’s Operating Budget for 2010 will be amended to reflect the income from this Special Assessment, and expenses for these repairs.