BOARD OF DIRECTORS MEETING TO RATIFY THE LEASE AMENDMENTS
The Special BOARD OF DIRECTORS (henceforth referred to as “the
Board”) meeting of the 2010 session of the MUSEUM PARK LOFTS
CONDOMINIUM ASSOCIATION 125 EAST 13th STREET
(henceforth referred to as “the Lofts Association”) was called
to order at 7:07 P.M, after a review of documents. Board
PRESIDENT of the Lofts Association (henceforth referred to as
“President”), Russ Petro, announced to residents that a
quorum of proxies was available, and that the meeting was
official.
President Petro then asked BOARD OF DIRECTOR MEMBERS (henceforth
referred to as “Directors”) to please sit at the table.
MINUTES
President Petro asked that the minutes for the August 25th, 2010
meeting be approved. Director Dean Valentine so moved.
Director Lynda Massa seconded. The motion passed without
dissent.
ratification
President Petro reiterated that this meeting was to make
official the passage of the Leasing Amendment. Notification of
what the amendment entails had been previously distributed to
125 EAST 13th STREET CONDOMINIUM OWNERS AND INVESTORS
(henceforth referred to as “Unit Owners”). He asked if there
were any questions from Unit Owners present; or if anyone wished
to vote, that had not yet voted.
President Petro then ceded the floor to the SECRETARY of the
Board, Dean Valentine. Secretary Valentine announced the
results of the vote.
Secretary Dean noted that 109 Unit Owners voted for the Leasing
Amendment, 27 voted against it, and 13 did not vote. The
percentage break down was 69.59% of the Building’s ownership was
in favor of the Amendment, while only 67% was needed for
passage.
President Petro noted that 33 lending institutions were notified
of the results of the vote, and 28 have responded.
VICE PRESIDENT of the Board Lynda Massa moved to ratify the
Leasing Amendment. Director Kaveh Bakhtiari seconded.
The motion passed without dissent.
President Petro moved that the meeting be closed at 7:11.
Director Massa seconded. The motion was approved without
dissent.
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