AGM Decisions

Annual General Meeting of Co-owners at Vale dos Pinheiros on 21 November 2008

Summary of Decisions

Jardim Vista will be retained as the gardening contractor for 2009. It will make a plan for gardens improvement that will be agreed by the Gardens Committee. Some E9,000 will be dedicated to gardens’ improvement. The gardens contract budget for 2009 will fall by 1.38%. Regular meetings will be held to monitor maintenance and improvements.

The 2008 budget outcome is slightly less than the budget.

The 2009 budget is reduced by 10.9% compared to 2008.

The existing 10% annual contribution to the Reserve Fund is expected to be sufficient for maintenance and re-painting of the Condominium in 2012.

The playground swings will be upgraded to include a baby swing.

The investment projects for pool heating at shoulder periods and pool furniture will be deferred. Minimal Health Club improvement will be done within the planned budget. A questionnaire will be sent to all co-owners on their needs for the Health Club / Gym area and pool heating.

Ways to provide better TV channels / reception will be further urgently researched.

Security of the condominium will continue to be provided by Vigiquinta ‘driving through’ the condominium. Security will be kept under review.

Jacuzzis and similar installations are contrary to the Condominium Regulations and are prohibited on patios. The two co-owners with Jacuzzis will be formally notified.

VdP will become members of Aproquila so that we can be better informed and influence infrastructure developments in and around Quinta do Lago. Oscar will represent VdP at meetings etc.

Leon Fuller (VdP no. 41) and Ralph Sangster (VdP no. 20) have been elected to the General Assembly and General Committee respectively.

Oscar will continue as Administrator at least until end 2009.