September 17, 2016 Board of Directors’ Meeting
Vice President Charles Herf called the meeting to order at 9:09am PDT. Board members in attendance were Charles Herf, Sharon McLaughlin and Tim Stripe. Management was also present.

• The Board approved the minutes of the June 4, 2016 Board of Directors Meeting.
• The Board received updates relating to resort operations including Front Desk, Housekeeping, Maintenance, Activities, Landscaping, Safety, Guest Satisfaction Scores, Inventory and Default Analysis, Reserves, Fiscal performance and Delinquency.
• The Board approved the 2017 Operating Budget, with a 3.7% increase to assessments.
• The Board approved the additional reserve funds of $31,000 for the Fitness Center Renovation Project, not to exceed the total amount of $330,000.

Upcoming Meeting Dates

• December 9, 2016 – 1pm PST, Carlsbad Inn
• March 10, 2017 – 3pm PST, Carlsbad Inn
• June 17, 2017 – 8:30am PDT, Carlsbad Inn
• June 17, 2017 – Annual Owners’ Meeting, 10am PDT, Army Navy Academy’s new Athletic Fieldhouse
• September 16, 2017 – 9am PDT, Carlsbad Inn

Note: If you wish to have a copy of the Minutes for your records, you may request a copy via email to gpvspecialist@gpresorts.com or send your request along with a ($.63) stamped self-addressed envelope to Grand Pacific Resort Services, L.P., 5900 Pasteur Court, Suite 200, Carlsbad, CA 92008, Attn: Rosalie McDonnough. Owners are welcome to attend any regular Board meeting. Board meeting agendas are posted at the resort four days prior to the meeting. If you would like a copy of the final agenda for any Board meeting mailed to you, please contact your Resort Manager prior to the meeting. Since meeting times and location are subject to change, please contact your Resort Manager in advance to reconfirm the exact time and location.