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17 <br />WOODMERE-TRENTWOOD PROPERTY OWNERS ASSOCIATION, INC. <br />616A Chelsea Drive <br />Sanford, NC 27332 <br />NOTICE OF THE 2016 <br />ANNUAL MEETING OF PROPERTY OWNERS <br />The Annual Meeting of the Woodmere-Trentwood Property Owners Association, Inc., will be <br />held at 5:00 PM on November 2, 2016, at the Carolina Trace Country Club, prior to the monthly <br />POA dinner for the following purposes: <br />1. Election of Directors. Under the By-laws of the Association, Directors are to be elected for a <br />period of three years, with three directors elected each year. The terms of current Directors Russ Ciccotti, <br />Alexa Hrvatin and Jan Rowe expire January 1, 2017. The nominating committee appointed by the <br />President of the Association proposes the following candidates for election to the Board of Directors for a <br />three year term, beginning January 1, 2017 and expiring in January 1, 2020: <br />(See Enclosure #1 for candidate bios) <br />Bill Elliott. Paul Perks and Louise Spofford <br />Your vote is requested to approve W -T Director Nominees <br />Question #1 on enclosed Ballot. <br />Terms ExpiringJ_anuu1, 2018 Terms Expiring January 1 2019 <br />Scott Erickson Warren Garbe (Appointed) — Architectural Chair <br />Carolyn Schaeffer Leslie Orlovski <br />Steve Sohinki Oscar Roberto <br />2. 2017 POA Budget. Please see Enclosure #2 for a summary of the 2017 budget compared to the <br />projected year end 2016 income and expenditures. <br />3. Property Assessments. The Woodmere Trentwood Board of Directors has approved the <br />following dues assessment for improved and unimproved lots for 2017: <br />2017 POA Assessment for Improved Lots: $790 <br />2017 POA Assessment for Unimproved Lots: $265 <br />CTA (Carolina Trace Association) has established a Special Assessment of $45 for 5 years to partially <br />replenish the Reserve Fund that was used to pay for the Quarry Legal fees, included in that $45 is $4 <br />allocated to marketing in collaboration with Escalante and Carolina Trace Gated Properties, who will <br />each spend an equal amount ($10,000 each). The CTA Operating Budget assessment was decreased by <br />$11. <br />The amount of dues titled "Road Maintenance Reserve", will be $250 in 2017. This amount, from each <br />improved lot, will be used to start replenishing the Road Reserve, which is a separate bank account <br />designated for future road paving in the POA. <br />The breakdown of the assessment follows: <br />