MINUTES OF THE REGULAR MEETING OF THE BOARD OF DIRECTORS SEAL BEACH MUTUAL THREE January 08,2021 via Zoom Video and Conference Calling

SEAL BEACH MUTUAL THREE

via Zoom Video and Conference Calling

The regular monthly meeting of the Board of Directors of Seal Beach Mutual Three was called to order by President Ginthner on Friday January 08, 2021, at 9:06 a.m. followed by the Pledge of Allegiance via Zoom Video-Conference Call.

SHAREHOLDER COMMENTS

ROLL CALL

Present:

President Ginthner, Vice President Turis, Secretary Hart, Chief Financial Officer Ledbetter, and Directors Tye, Campbell, and hlarris.

GRF Representative Ms. Stone

Staff:

Ms. Hopkins, Mutual Administration Director

Ms. Givehand, Recording Secretary SHREHOLDER'S COMMENTS

No Shareholder made a comment

MINUTES

The regular meeting minutes of December 11, 2020 as corrected and Special meeting minutes of December 21, 2020 were approved by general consent of the board to stand as

written.

BUILDINING INSPECTOR REPORT

Inspector Van Horn presented his report (attached).

Following questions, Inspector Van Horn left the meeting at 9:30 a.m.

G RF REPRESENTATIVE

GRF Representative Stone presented her report, (attached)

MUTUAL THREE Emergency Agenda

January 8,2021

Following a discussion and upon a MOTION duly made by Secretary Hart and seconded by Director Tye, it was

RESOLVED to approve to amend todays Agenda of January 8, 2021 by adding "Discuss and vote to approve and vote to approve additional funds to M & M Roofing for work at Building 30 to New Business Item C.

The MOTION passed unanimously.

Following a discussion and upon a MOTION duly made by Director Campbell and seconded by Secretary Hart, it was

RESOLVED to approve to amend todays Agenda of January 8, 2021 by adding

"Discuss and vote to approve and vote to approve Emergency sidewalk repair

to New Business Item B.

The MOTION passed unanimously.

CONSENT CALENDAR

Following a discussion and upon a MOTION duly made by Chief Financial Officer Ledbetter and seconded by Director Harris, it was

RESOLVED to authorize the following transfers of funds per detailed

resolutions.

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12/07/2020 $169,511.45 ACH- Direct Debit from multiple shareholders to US Bank Checking

12/07/2020 | $146,487.06 | US Bank Checking to GRF - US Bank Checking

12/08/2020 $17,518.84 US Bank Restricted Money Market to US Bank Non- Restricted Money Market

12/22/2020 | $13,000.00 | Sale of 34F, Coast Cities Escrow, Check number 92948

The MOTION passed unanimously.

UNFINISHED BUSINESS No Unfinished Business

NEW BUSINESS

Following a discussion and upon a MOTION duly made by Vice President Turis and seconded by Director Campbell, it was

RESOLVED to accept the proposal from MJ Jurado to remove and replace existing walkways at Building 21 , Units B, C and D for an amount not to exceed

$4,800.00. Funds to come from Infrastructure and authorize the President to sign necessary documents.

The MOTION passed unanimously.

Following a discussion and upon a MOTION duly made by Vice President Turis and seconded by Director Campbell, it was

RESOLVED to approve additional funds of $10,824.00 to be paid to M&M Roofing for work at Building 30 G-L. Funds to come from Roofing and authorize the President to sign any necessary documents.

The MOTION passed unanimously.

PRESIDENT'S REPORT

President Ginthner presented her report (attached).

SECRETARY/CORRESPONDENCE Secretary Hart received no correspondence.

CHIEF FINANCIAL OFFICER'S REPORT

Chief Financial Officer Ledbetter did not provide a report.

(Finance had not submitted report)

MUTUAL ADMINISTRATION DIRECTOR

Mutual Administration Director Hopkins presented her report (attached).

ANNOUNCEMENTS

NEXT REGULAR MEETING: Friday, February 12, 2021 at 9:00 a.m., Via Zoom

SPECIAL MEETING: Wednesday, January 20, 2021 at 1:00 p.m., Via Zoom

MUTUAL THREE January 8,2021

COMMITTEE REPORTS

Emeraency Information

Director Tye provided no update.

Laundry Rooms

Secretary Hart provided an update.

Service Maintenance

Director Harris provided an update.

Landscape

Director Campbell provided an update.

Physical Property

Vice President Turis provided an update.

DIRECTORS' COMMENTS

No directors made a comment.

SHAREHOLDERS' COMMENTS

One shareholder made a comment.

ADJOURNMENT

There being no further business to conduct, President Ginthner adjourned the meeting at 10:42 a.m. and announced that there would be an executive session following to discuss

member issues.

EXECUTIVE SESSION SUMMARY

The Board met in Executive Session on January 8, 2021 , at 11:08 a.m., and took the

following actions:

1. Legal Matters

a. No legal matter was discussed.

2. Contracts

a. No contracts were discussed.

3. Assessments / Delinquencies

a. No delinquent letters were drafted 4. Disciplinary Hearings

a. Three disciplinary hearings occurred.

President Ginthner adjourned the meeting at 12:50 p.m.

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^Attest, Dianne Hart, Secretary /^

SEAL BEACH MUTUAL THREE

kg 01/08/2021

Attachments

P.O. Box 2069

Seal Beach CA 90740

12/31/2020

Dec

Actual

Dec _Byd!get_

2020 Y-T-D

Actual

2020 Y-T-D Budget

115,287 49,888 165,175

115,286 49,887 165,173

Carrying Charges Reserve Funding

Total Regular Assessments

1,383,447 598,655 1,982,102

1,383,454 598,655 1,982,109

1,771 190 8,965 10,927 176,102

1,924 1,055 2,537 5,516 170,689

Service Income Financial Income Other Income Total Other Income Total Mutual Income

18,982 3,331 59,499 81,812 2,063,914

23,121 12,649 30,378 66,148 2,048,257

70,458 13,397 7,871 0 41,981 3,444 49,888 187,039 (10,937)

8,815

(19,751)

70,458 12,704 3,672 13 23,515 10,418 49,887 170,667 22 0 22

GRF Trust Maintenance Fee Utilities

Professional Fees Office Supplies Outside Services Taxes & Insurance Contributions to Reserves

Total Expenses Before Off-Budget Excess lnc/(Exp) Before Off-Budget Depreciation Expense

Excess lnc/(Exp) After Off-Budget

835,961 146,557 29,950 0 293,333 115,301 598,655 2,019,757 44,158 106,223 (62,066)

845,562 152,514 44,064 156 282,268 125,038 598,655 2,048,257 0 0 0

2,079 4,688 4,125 (3,049) 864 5,292

0 0 0 0 0 0

Restricted Reserves Appliance Reserve Equity Painting Reserve

Contingency Operating Equity Roofing Reserve

Emergency Reserve Equity Infrastructure Reserve

69,135 339,647 251,152

702,158 32,964 226,207

0 0 0 0 0 0

13,998 0 Total Restricted Reserves 1,621,264 0

MUTUAL: (03) THREE Dave Van Horn

UNIT # DESCRIPTION OF WORK GRF/CITY PERMIT

PERMIT ISSUE

COMP.

DATE

CHANGE ORDER

RECENT

INSPECTION CONTRACTOR / COMMENTS

28 L FULL REMODEL BOTH 11/16/20 03/31/21 NO NA GAMBOA CON.

16 G WASHER/DRYER BOTH 01/15/21 03/15/21 NO NA LOS AL

16 I FULL REMODEL BOTH 02/27/20 07/01/20 NO NO CALL 4 FINAL LAKEWOOD CON. 9/3/20

32 I ABATEMENT GRF 12/23/20 12/31/20 NO NA ERC

32 I REMODEL BOTH 01/18/21 04/30/21 NO NA ROBERTS

HEAT PUMP BOTH 01/18/21 04/18/21 NO NA GREENWOOD

8 F WINDOWS BOTH 03/01/21 06/30/21 NO NA ALPHA MASTER

31 A SHOWER BOTH 07/14/20 10/28/20 NO R. PLUMB HOT MP HADI 9/25/2020

29 J C/P CABINET GRF 01/14/21 01/21/21 NO NA HANDYMAN

13 E HEAT PUMP BOTH 12/12/20 01/12/21 NO NA GREENWOOD (ESCROW)

20 L HEAT PUMP BOTH 01/19/21 04/19/21 NO NA GREENWOOD

15 A C/P STORAGE GRF 12/15/20 1/155/20 NO NA IMAGINATION

2 G HEAT PUMP BOTH 01/12/21 04/12/21 NO NA GREENWOOD

PERMIT ACTIVITY

INSPECTOR:

MUTUAL BOARD MEETING DATE: DECEMBER 11, 2020

UNIT # NMI PLI NBO FI FCOEI ROF DOCUMENTS/COMMENTS

8 J 10/01/20

12 L 12/03/20

5 D 11/17/20 11/20/20 12/02/20

7 K 09/29/20

22 A 12/01/20

19 C 11/25/20

32 I 10/08/20 11/05/20 11/17/20 12/01/20

23 H 10/13/20 12/04/20

26 C 08/23/19

17 J 11/04/20

22 D 11/03/20

34 F 09/02/20 11/02/20 11/02/20

13 I 10/30/20

26 G 10/26/20 11/19/20 12/01/20 12/15/20

15 L 10/22/20 12/03/20

25 A 10/14/20 11/30/20 12/04/20

FI = Final Inspection FCOEI = Final COE Inspection ROF = Release of Funds NMI = New Member Inspection PLI = Pre-Listing Inspection NBO = New Buyer Orientation

LAUNDRY 10 W/ DIRECTOR & JURADO RE: SINKING SLABW.O. TO KAREN FOR REPLACEMENT 11/27/20

30 L WITH CONTRACTOR RE: TERMITE DAMAGE 11/30/20 32 J, WITH CONTRACTOR RE: FLOOR ESTIMATE 11/20/20 LAUNDRY 10 W/ CONTRACTOR RE: CONCRETE POOR

4 B, RE: BEEPING SOUND, FOUND WATER SENSOR 32 C, CHECKED & TOOK PICTURES OF FLOOR FOR 26 G, WITH CONTRACTOR RE: ESCROW ELECTRICAL

12/4/2020

BATTERY WAS BAD REPLACED IT 12/4/20 INSURANCE CO.12/3/20

TRACING 12/3/20

UNIT NUMBER UNIT NUMBER

SITE VISITS

FENN TERMITE & PEST CONTROL SIGNED 3 YEAR CONTRACT - 2020 WITH CHANGE ORDER START IN JUNE 2020 TOTAL LANDSCAPE MAINTENANCE SIGNED 11/1/18 - 10/31/21