Unit owners present: L. DeMartino, K. DeMartino, J. Schoppet, D. Jenkins, E. Zolnay, P. Lennon, R. Harris, R. Koundakjian, W. Sharpe.

Alpine representative: Cindy Green

Jim Vineburgh called the Meeting to order at 7:00 PM.

Unit Owner Open Session: Rose Koundakjian inquired as to what could be done to stop a particular unit owner from sending to all unit owners copies of his letters to Trustees. Various Board members responded that there is nothing that the Board could do as that action is that person’s right. They suggested that owners sharing Rose’s opinion communicate directly with the sender.

February 2002 Minutes: Fred Aufiero moved and Lou DiNapoli seconded the motion to accept the minutes of the February 14, 2002 meeting as published.

Social & Garden Committees (Griffin): No report.

Treasurer’s report (Aufiero): In preparing the budget for FY 2002, Alpine had allocated the landscaping budget over the 8 months of April to November, as had been done in the past. Since the Board had voted to pay the landscaping contractor in 12 equal monthly installments, the landscaping line item in the treasurer’s report has appeared to be over budget for the past 4 months. The treasurer has requested that Alpine adjust the budget for this line item so that the budgeted expenses are in line with the actual payments to Waverly Landscaping.

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Dick Bonz moved and Tim Gartland seconded the motion to approve the treasurer’s report as published.

Recreation Committee (Vineburgh): No activity during the month of February. The balance in the account is $80.41.

Maintenance Committee (DiNapoli): Lou discussed his inspection of 3 dead trees at the entrance to Shire Lane that had been reported by an abutting neighbor at 139 Old Billerica Road. It is not clear at this time whether the trees are dead or even if they are on Bedfordshire property. We will make a determination in the coming weeks as the living trees begin to bud. We will also take care of the fruit trees on Shire Lane that were damaged this winter.

Relative to the reconstruction of the steps and abutting walls between 6 and 8 Shire Lane: Lou DiNapoli recommended having Waverly Landscape apply for a building permit so that the work can be done as soon as the weather permits. Regarding the wall adjacent to 2 Shire Lane: Lou tried numerous times, with no success, to speak with the Conservation Commission either in person or via phone. Finally on March 13, 2002, Elizabeth Bagdonis notified Lou that the Conservation Commission could not locate the original application. Lou recommended applying for a separate permit to rebuild the retaining wall next to 2 Shire Lane. That approach will necessitate that the Building Department interfaces with the Conservation Commission.

Dick Bonz moved and Joe Dini seconded the motion to authorize Waverly Landscape to apply for a building permit to reconstruct the retaining walls and steps behind units 6 and 8 Shire Lane and to fund this construction from the Reserve account.

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Dick Bonz moved and Tim Gartland seconded the motion to authorize Waverly Landscape to apply for a building permit 2 weeks after the first application to rebuild retaining wall adjacent to 2 Shire Lane.

Lou DiNapoli received a call from a unit owner that his clothes dryer was not working properly. When Lou and Fred Aufiero inspected the dryer, they found the dryer vent to the outside packed with lint. Once the lint was removed, the dryer was working fine. It is recommended that all unit owners clean their dryer vents annually. Joe Mancini of Mancini Heating & Cooling in Arlington (781 643-3845) is highly recommended.

Roofing/Trim/Painting Project (Bonz): The bid documents have been finalized and reviewed by Design Technique. They will be sent to the top 3 vendors from the last bid cycle, as well as 2 new vendors that were recommended by Design Technique. The Board will meet with the 5 vendors and representatives from Design Technique on March 20 or 21 to review the bid spec. We are asking each bidder to handle all phases of the project — roofing, trim replacement, and painting. If they do not provide a particular service, they will be requested to sub it out themselves.

Bids will be due back to Design Technique within two weeks from the walk-through date. Design Technique will review the bids and do final negotiations with the vendors prior to sending the final bids to Bedfordshire. Dick Bonz and Lou DiNapoli will then review the final bids in detail and make a recommendation to the full Board at a special meeting.

Once the final vendor is selected, there will be a 3 to 4 week period prior to the commencement of the work so that the vendor can order materials. We are looking at a probable start date of May 1, 2002. The decision to bring in a third party (Design Technique) delayed the project somewhat, however, it is felt that it was a good decision to utilize them. They did have some valuable comments that were incorporated into the bid spec.

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We received a commitment letter from WarrenBank for a line of credit to finance the project. It will be at the rate of prime plus _ %, with a floor of 7%. We will be required to provide WarrenBank with an annual financial statement and we also must deposit $100,000 of the reserve account with WarrenBank.

Dick Bonz moved and Joe Dini seconded the motion to execute the commitment letter of March 12, 2002 from WarrenBank.

Old Business: Lou DiNapoli spoke with the manufacturer of the current garage doors who recommends that when unit owners have a need to replace their electric garage door openers, that they install nothing larger than a 1/3 horsepower. Since the doors are so light, anything more powerful could contribute to the buckling problem.

A group of unit owners have requested that the Board consider changing the color of the paint on the body of the buildings, as well as allow a choice of colors for the doors. Dick Bonz said that we would not be able to change the color of the buildings since it is a stain and any new color would have to be a darker shade and the Board does not want to use a darker color. They will consider the request for different color doors but deferred any decision.

Financing: There will be only two options available for payment of the assessment for the roofing/trim/painting project: 1. Payment in a lump sum; or 2. Financing the assessment through the association’s financing arrangement with WarrenBank. It would be too difficult to do the necessary bookkeeping to provide other alternatives. There was extensive discussion about how to make these two choices equitable, including what would be done in the event the assessment came in too high or too low.

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Fred Aufiero moved and Tim Gartland seconded the following motion: First, if final costs are less the amount on which the assessments were based, excess funds will be returned (per beneficial interest) to those unit owners who paid in a lump sum. Second: If the total cost is greater, the Board will make a determination of whether to use reserve funds to make up the difference and/or adjust the special assessment to all unit owners.

The above motion is a change from the Board’s previously communicated position.

Dick Bonz moved and Fred Aufiero seconded the motion to borrow the necessary funds during the construction period to fund the project with all unit owners sharing in the carrying costs and fees associated with this loan, per their beneficial interest. At the end of the construction period, when the final costs are known or can be reasonably determined, the final assessments will be determined and unit owners will decide at that time whether they choose to pay in a lump sum or finance their beneficial share of the total construction costs.

New Business: Vineburgh reported that there is a sale pending on 8 Shire Lane. He also reported on a conversation that he had had with Bill Holcomb, the owner of 5 MGW, which is also for sale. Bill related that when a very serious prospective buyer strolled around the property to get a sense of the community, he encountered an unidentified current owner who said, in essence: "a large assessment is coming, that it would most likely be the first of many, and that the golf course was illegal." As a result, the prospective buyer informed his agent that he was no longer interested. Some individuals have suggested that Holcomb should attempt to find out who that unit owner was and take legal action.

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Fred Aufiero moved and Lou DiNapoli seconded the motion to adjourn the meeting at 9:00 PM.

• Notify the abutters at 139 Old Billerica Road that the Board is taking action on the "dead" trees at the entrance to Shire Lane.
• Request Waverly Landscape to apply for a building permit for the retaining wall and steps behind 6 and 8 Shire Lane.
• Request Waverly Landscape to apply for a building permit 2 weeks later for the retaining wall adjacent to 2 Shire Lane.
• Call the Town of Bedford in April of 2002 to have the hydrants flushed this spring.

Respectfully submitted by, Attested:

____________________________ ___________________________

Cynthia L. Green, Property Manager Karen Griffin, Secretary

Alpine Property Management Bedfordshire Condominium Trust