TIMBERLAKE RANCH LANDOWNER'S ASSOCIATION, BOARD OF DIRECTORS MEETING

The meeting was called to order by the president, Pat Wallace at 10:00 AM. Present: Pat Wallace, Howard Williams, and Hoot Gibson.

LAST MEETING RESUMED:
Pat Wallace, president, reconvened the May 29,2004 meeting, as this meeting was not adjourned. The election results were announced: Pat Wallace was elected president, Hoot Gibson, vice-president, and Howard Williams, treasurer. Following the election, the then current board members resigned. Nominations for two board seats were taken at this time. -Harry Hutton and Richard Hawkins were nominated. Votes for these candidates were carried unanimously. A motion was made and seconded to adjourn this meeting.

NEW MEETING:
Pat Wallace opened the new board of directors meeting.

MINUTES:
No minutes of the last meeting are available at this time. Katrina Hall was the substitute secretary for Jim Zwerg at the annual meeting, and she did not submit the minutes to the new board. The minutes from this meeting will be reconstructed at a later date.

TREASURER'S REPORT:
Howard Williams declared that there is $22,000.00 in debts owed to TRLA. A true, certified audit covering one year is under consideration by the board. The high costs of legal fees due to lawsuits were discussed.

NEW BUSINESS:
Pat Wallace said that the number one project of the board is the improvement of the roads. Harry Hutton, Roger Irwin, and Kathleen Roller volunteered for the road committee. Comments were made regarding the value of signed petitions made to the counties about the conditions of the roads. Harry Button agreed to prepare a petition form. The complexity of the situation was addressed because of the fact that three jurisdictions govern Timberlake road. An important consideration was made that the amount of taxes generated by landowners in our area should influence the counties to improve and maintain Timberlake road. Kathleen BoIler volunteered to obtain tax information from the records of Cibola and McKinley Counties.

ARCHITECTURAL COMMITTEE:
Harry Hutton and Hoot Gibson volunteered to be on the architectural committee.

COMMON AREA AT LOWER RANCH HOUSE:
Bob Myers addressed the request of Joty Baca to lease the common area at the lower ranch house for the grazing of horses. Conditions of this request and the pros and cons of such agreement were discussed.

TIMBERLAKE TIMES:
The publication of the Timberlake Times is postponed until August. As an alternative to the Timberlake Times, due to its cost, the feasibility of sending out a newsletter once a month was discussed. Part time office employment to help with e-mails, telephone calls, website and secretarial work is under consideration.

RANCH FOREMAN:
Comments were made about the question of hiring a new ranch foreman. Accepting contract work to take care of the necessary work and repairs around the ranch was an alternative plan.

NEW ASSOCIATIONS:
Cloh Chin Toh and Timberlake South subdivisions filed and received corporation papers to form their own associations.

TOM ALLEN LAWSUIT:
On June 2, 2004, Ken Cassutt, the TRLA attorney, was informed that the Court of Appeals was initiating a telephone conference call on June 17, 2004 that would include Tom Allen and his lawyer, Bruce Boynton, Robert Rambo, the court mediator, Ken Cassutt and the three newly elected board members. Hoot Gibson reported on the June 17th telephone conference call. Through the bold advice of the court mediator and the two lawyers, it was decided that the Tom Allen lawsuit would be put on hold for nine months, and that Timberlake Ranch should be divided into sections, with each section having its own association. TRLA would be the "umbrella" organization that would govern the common areas. A representative from each of the associations would form the TRLA 'umbrella" organization.