Minutes of the Trustee Meeting

Queensberry Condominium Trust

March 19, 2012

Pursuant to the Article V. Section 5.9 of the By-Laws of Queensberry Condominium Trust, a monthly meeting of the Trustees was held on Monday, March 19, 2012, at 6:30PM at the offices of Boston Choice Properties, 125 Jersey Street, Boston, MA.

Those Present: Ning Hernandez, and Jeff Schwarz

Sheryl Kelly via telephone conference

Pamela Pendias , Modica Associates

The meeting was called to order at 6:40 PM.

OLD BUSINESS

The first item of business was the status of Eagle Rivet. The association issued final payment to Eagle last month, less $4.500 as negotiated with the President of Eagle Rivet and David Sherf. Eagle Rivet is now seeking payment of the $4,500 the association withheld due to the lengthy duration of the project. The trustees asked Pam to send an e-mail to David Sherf explaining that they wanted to settle the matter as soon as possible asking that David reiterate why he felt that a verbal agreement had merit which now Eagle is reneging on.

Jeff stated that he wanted to meet with David one last time regarding the moisture infiltration in his unit and review the moisture level readings prior to replacing windows. Sheryl stated that she too wanted to proceed with repairs to her unit. Jeff asked if Sheryl had cracks in the walls in her unit and she replied that she did not.

Pam informed the trustees that the door sweep has still not arrived for the front door at 107 Jersey and that it would be installed as soon as it was received. The sweep on the door at 111 has sufficiently worn down and is no longer binding preventing the door from closing.

An electronic version of the monthly financial report for February had been e-mailed to the trustees along with copies of all paid bills. The balance sheet at the end of February reflected $6,559 in the operating account and $45,584 in reserves. Jeff noted the $675 charge for pest control services and reference to (3) buildings. Pam stated that the bill must be in error – and would notify Heritage Pest to issue a credit. Pam reported that at the end of February, 2011, the association incurred costs of $17,900 for oil and gas as compared with this year total costs of $10,500 representing an overall savings of $7,400. Although it has been a mild winter compared with 2011 it still represents significant savings.

The association collected $16,762 from the insurance company under the boiler machinery section when the heating boiler failed. The association is current with all operating costs.

Sheryl stated she would like to purchase a concrete urn for the front of each building for flowers. There was some concern that they may get stolen or knocked over but the trustees agreed to try it provided the cost not exceed $100.

Pam asked the trustees about the railing around the perimeter of the property. It is badly rusted. Pam obtained one bid from Logan Grate last fall in the amount of $5,500. Pam will obtain other bids as well to discuss at the meeting next month.

Laundry equipment – Automatic Coin Laundry has confirmed that the leaking washer in 107 has been replaced. Pam made it clear to Jay Lizotte that the association was not interested in any further extensions to the laundry contract.

Minutes of the Trustee Meeting

3-19-12

Page Two

NEW BUSINESS

The overall condition of the courtyard was discussed. Pam stated that she did not believe there was a simple inexpensive fix. Sheryl suggested adding some gravel or crushed stone. Pam to check for options between now and the next board meeting.

Sheryl noted that the sconce in building 111 going to the second floor is missing a globe and the bulbs do not match. Pam will check and have this taken care of.

Ning asked about the woman who is leaving trash in the hallway of 107. Pam stated that she has contacted the manager of the unit on each occasion and has now levied a total of (4) $100 fines for leaving trash in the hallway. The trustees suggested posting a notice advising that trash should at no time left anywhere in the common area and should be taken out to the dumpster along the alley side of building 10. Any infractions will result in a $100 fine.

Pam asked the trustees what they were doing about a 5^th board member. The consensus was to put it to a vote of all unit owners and furnish a ballot with the names of the three candidates who expressed an interest in serving on the board.

There being no further business, the meeting adjourned at 7:30PM.

Respectfully submitted by:

Pamela Pendias

Modica Associates

For the Recording Secretary

Queensberry Condominium Trust