THE ANNUAL GENERAL MEETING

OF

CHROMATA LAGOON MANAGEMENT COMMITTEE

Chromata Lagoon – Saturday 6 September

2014 – 6pm

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Owners present were:

Yiannos and Georgia Odysseos (C4) AvramisDespotis (C7) Anne

Reynolds and George Smith (B6) ShelleyCrozier (G3) Pat Porter (G5)

Jonathan Kennard (A13) Mick and Tina Woodhouse (F4) Yiannos,Nini & Marissa Christodoulides (B10) George and MrsPaidonomos (A16) Petros from 24/7.

Apologies received from:

Marianna Papathoma and Keyvan Villa (G7) and Steven and Sandra

Haddock (E5)

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Annie opened the meeting and gave a warm welcome to new owners Mr and

MrsPaidonomos of Apartment A16. She said the committee were pleased to see more owners present this year.

Marissa very kindly translated everything in Cypriot.

Chairman's Report

A copy of the Chairman's report was handed out to owners. The details were:

Dear Owners and friends

With this report I would like to inform you for all the challenges we faced and for all the obstacles we had to overcome as a committee as also for all the hard work and goals we managed to fulfil these past few months:

1.Take over the communal bank account and make all the necessary documents because of all the changes the bank system in Cyprus was going through.

2.Choose the respectful Kouzalis law office and start a co-operation with it to deal with matters of our committee and legal issues of our complex or any of the owner that would need legal help or guidance.

3.Set up a communication channel by email, updated website, facebook, phone and visits in person with the owners, Giovani Developers, Land Authority and Paralimni Municipality.

4.Set up and agenda with goals and start fulfilling it from the day we took over.

5.Dealing with situations and problems on the site weekly and even daily sometimes with problematic tenants, non-payers, installations around the complex (electricity, plumbing) and equipment (pools, pumps, showers, roof access, elevators).

6. Working together with the Maintenance Company 24/7 nearly on an everyday base for the best of our complex (pool area, park, green areas, movement sensors, parking and perimeter lights, leaking problems).

7.Managing the financial details of the communal account and of the complex with respect to all owners and the appreciation to all the trust they have showed us by keeping always our financial books open to anyone to check them and by having in mind, the suggestions, comments and needs of others.

8.Least but not last, we have all put much effort, time and personal pocket expenses to save us money and to serve the general good of the complex and all the owners.

Treasurer's Report

Georgia handed out the Statement of Accounts from November 2013 to August 2014.

She said that we had raised just over 47000 euros from Communal fees and there was still around 8000 euros to be collected from tenants. Outgoing money were around 36000 euros leaving a balance so far of 10688.45 euros. This will be increased when more money are received from fees. As the AGM had been earlier this year, then we still had 3 more months to go.

Pat asked if the fees could be reduced and another suggestion was made that owners who paid the full amount on time be given a 10% discount. Yiannis did not agree to either of these as he said that more money is required to go into the fund for the painting of the apartments. Pat asked once the money is there, could the fees then be reduced. It was pointed out that this also would not be practical as we would have to start again collecting for the painting fund for years to come.

Mick Woodhouse thought we ought to keep the fees as they are and this seemed to be agreed by most of those present.

Avramis informed everyone that we have been working very hard with the lawyers regarding non payers. Contracts have been drawn up with some owners with the lawyer that they pay a certain amount each month to clear their debt and this seems to be working well.

There are however, some owners who have not been paying and these are being dealt with by our lawyer and already some of them have started paying.

One of the apartments is in the hands of the bank and is currently being rented.

Another one of the apartments is up for sale.

The committee have agreed that a notice of non payers will be posted out. Those owners that have an arrangement currently in place, will not have their debts posted.

Avramis raised a question regarding the insurance of the complex. It transpired that under the last committee, we were not insured for six months and that the insurance did not start until March of this year. Unfortunately there was nobody at the meeting from the last committee to answer this question. The insurance we have is covered by AIG which is an excellent insurance and covers everything including hurricanes. Full details of the insurance cover are to be found on our updated website.

Details of all cheques, receipts, payments etc that have been paid for by the committee can be inspected by any owner should they so wish.

Presentation of the Committee Members

There was no need for elections this year as only 3 people had voted which was very disappointing. Therefore, the present committee had been reelected for another term.

Agenda – 3 year planning

Avramis read out the 3 year planning for the committee for 2013 – 2016.

•Renovate the kiosk at the swimming pool area by adding parts and using special stone and wood products against sogginess.

•Fix and paint the walls around the pool area in and out, paint the fence and correct the floor and the tiles.

•Place a handler going down the pool stairs, place anti-slippery tape at the end of the pool stairs and turn the step around the outside showers from a step to a ramp so that people will not trip over it.

•Place new led lightening around the pool and complex.

•Service the pool equipment (pumps, tank, installation) on a yearly basis before and after the high season to prevent high costs in future.

•Place a mushroom fountain at the children's pool and a coin operated drinks fridge.

•Buy additional new coffee tables, umbrellas, sunbeds and bins.

•Gardening of the park and other small green areas around the complex around the year.

•Create new green areas around the complex.

•Place windows or glass constructions to prevent the rain to enter the stairs, elevator areas and entries.

•Improve the cleaning level – increase it to 3 times per week per block and everyday routine check of every block.

•Roof insulation in all complexes

•Paint and fixing the walls of the buildings.

•Put extra fire extinguishers in the parking places

•Put signs for unleashed dogs everywhere in the complex and maximum speed limit for the inside roads.

•Apply electric doors that will operated with a code and control in all the complexes with access side doors to pedestrians too.

•Clean the dirt and dry bushes from the fields surrounding the complex to prevent any further future fire incident and solve the cockroaches' yearly problem. Both for free by contacting with the Municipality.

•Mark the limits of all the parking places for each apartment and also the parking places of disabled people in each block.

The insulation of the roofs is now under way. Block F, C, G1 and G2 have already been done.

Opening windows on B Block have already been installed. These were required as rain was coming through the large hole and damaging the elevator.

Apparently the old committee had paid 600 euros to have the cockroaches dealt with on a yearly basis. This could have been done free from the Municipality. The Municipality are doing it yearly for free.

There was a fire in the dry bushes recently and we have had to pay the Municipality to clear the area so that this does occur again. We are going to try and reclaim the money back. 24/7 are now going to spray the area to stop any regrowth. Opposite this area we have been informed that a house is going to be built in 2015 in the land next to F block.

Legal Issues

As mentioned before, we have chosen Kouzalis Law Office to work on our behalf. Their details can be found on the Website. They are situated in Paralimni just past Carrefour and their offices are just above Pets Parade.

Title Deeds – Yiannis and Avramis have both been to the Municipality to see what is happening regarding Title Deeds. Apparently we are 2 years behind because there are 3 items that need addressing.

1.Railings are incorrect height. They are 0.90 cm and should be 1.10 cm

2.Disabled Parking Bays need to be painted.

3.There needs to be another see saw in the garden.

Yiannis has been to talk to Giovani about fixing these items. All should be done in the next 6 months, then it should be another 1 ½ years before we receive our Title Deeds.

Maintenance

Petros said that he hoped that everyone was happy with the new cleaning schedule, and that if they had any problems, then there was a 24 hour phone number for people to ring.

The complex is now being cleaned 7 days a week

Monday – Saturday - 8am to 3.30pm

Sunday 10am to 3.00pm

Each block is cleaned 3 times a week whereas the previous company only did this once a week.

We are now paying an extra 400 euros per month so that if anything breaks it will be mended. Also if we buy anything i.e. paint, then they will do the labour free of charge.

He did say that if anyone had any suggestions or ideas for the complex, he would be happy to hear what they had to say.

Mick said that he had noticed much improvement as to the cleanliness of the complex. Also it was nice to see that the garden was being pruned regular and much tidier.

All were in agreement.

Petros went on to say that they had had problems with the pumps in the pool.

Replacement pumps had been fitted but were not working correctly. Because the company were on holiday in August, we were expecting them to come on 9 September to rectify them.

We all commented how lovely the pool looked at night with the coloured lights and also how nice the mushroom fountain was for the children.

10 new chairs and 15 tables have been purchased for the pool area.

Annie asked if there could be any coloured lights for the garden corners outside B Block as there are in other corners. Petros said that there was no electricity there to install the lightening. She asked if they could be solar lights instead. Petros is going to look into this.

Yiannis said that he had been approached by many people saying how happy they were with 24/7 and how good the complex was looking.

Avramis has asked Petros to put up a clock on A Block, so that when you are in the pool, you can see the time. This is going to be done.

We have had a quote of around 62000 euros to paint the complex.

However, because of the crisis problems this could well change. We will get 3 quotes at the time. It was suggested that 24/7 could do the painting for us, so long as we purchased the paint. This is going to be looked at. It would mean that the complex could not be painted all in one go though.

Any other business

Pat asked if all tenants could stop feeding the cats as this is causing a problem on site. Annie said she would put a message on Facebook.

Also she mentioned that one of the tenants in the top flat are watering plants and the water is falling onto her balcony and also running down the wall and causing damp to the downstairs apartments. Petros said he would look into the matter.

The matter was brought up about the members of a committee established in the past having used money paid in for fees to pay for their flights, car hire and petrol in order to visit the Chromata for complex issues. This amounted to nearly 3000 euros. Shelly asked Avramisis this was legal or not? Avramis replied that although it was not illegal, they had kept it hush hush and not entered it as personal flights etc, but as miscellaneous on the Statement of Accounts. The first the committee knew about it was when checking the bills when they took over in November 2013.

Because of this the new committee have had the Lawyer draw up a

Declaration. It reads:

Declaration - 14 July 2014

We, the members of the Chromata Lagoon Committee, declare that members of the Committee, elected each time, shall be bound with the maintenance responsibility of the Complex Chromata Lagoon, which is located in 138 GiorkiPapadopoulou Street, Paralimni (Kapparis Area) Ammochostos.

The members of such Committee shall participate on voluntary basis and entirely at their own expenses.

No member shall participate by making use of the money of the Committee, otherwise it will bear legal consequences.

This statement shall bind all members, as well as any individual who will be elected every time as a member of the Committee in question, in the present stage and future.

Such declaration shall come into effect, as today 14 July 2014.

The members of the

Chromata Lagoon Committee.

Avramis then brought up the subject of Proxy Votes. It had been agreed that each owner has an option to vote. We give everyone up to 1 month to vote. In giving people proxy votes, it means that someone could have up to 30 votes which seems very unfair. In the circumstances, proxy votes will no longer be recognised. People can therefore, email their votes to the committee.

It was suggested that when a committee is voted in, then that committee should be resident for a minimum of 2 years. Everyone was in agreement to this.

The committee has been using the same email as previous committees. However, as some of the previous committee members have sight to this email, we thought that if people are sending emails of a rather sensitive nature, then we ought to change it. Therefore, from immediate effect the new email address is:

This means that each time there is a change in committee, only the password needs to be changed.

Marianna had sent in a suggestion that if everyone at the meeting from each block went back and talked to other owners in their respective blocks. They could then discuss what improvements etc could be done with their own block and then contact the committee with their ideas.

Mick asked the question about the Immovable/Sewage tax and whether people were paying or not. Yiannis said we need to pay these money from 2007. If people did not want to pay now, then they could pay when the Title Deeds were ready. Mick was recommended to go into the Facebook page where this item had been discussed at some length.

A big thank you was given to Yiannis, Georgia and Marianna for all their hard work they had done since November 2013.

The next AGM will be held in September 2015. Date to be announced.

The meeting finished at 7.45pm.