MINUTES OF THE ANNUAL HOMEOWNERS MEETING OF THE CHINQUAPIN HOMEOWNERS ASSOCIATION

DATE: August 30, 2025

TIME: 4:00 PM Pacific Time

PLACE: Dollar House at Chinquapin 3600 North Lake Blvd., Tahoe City, CA

Call To Order And Agenda The Annual Meeting of the Chinquapin Homeowners Association.

(the “CHOA”) was held on the above date, time, and location. All homeowners had received notice of the meeting per the CHOA’s bylaws.

President's Report-Carl Bertelsen

Mr. Bertelsen provided an update on several key initiatives, summarized herein: ● Infrastructure Projects ○ Roof and deck repairs ○ Sewer pump upgrades ○ Security fencing and measures to reduce trespassing ● A recently approved government grant for Wildfire Defense Tree Clearing ● Expectations for minimal to no 2026 Fee increases and no 2026 Special Assessment, subject to final review and approval at the November 2025 CHOA Board of Directors Meeting. Mr. Bertelsen then summarized the Election Results and Officer Appointments for the next year. ● The Board of Directors of the CHOA shall consist of Mr. Bruce Bayne, Mr. Carl Bertelsen, Mr. Marvin Feinstein, Mr. Robert Nielson, Mr. Terry Sarvas, Mr. Dana Stalder, and Mr. Cris Wedikin. ● The officers of the Association shall be Mr. Bruce Bayne as President, Mr. Cris Wedikin as Vice President, Mr. Marvin Feinstein as Secretary, and Mr. Dana Stalder as Treasurer 1

Treasurer’s Report - Steve Giacomi

Mr. Giacomi provided an update on the financial condition of the CHOA, as summarized herein. ● Current cash balances are $266,000 in the Operating Account and $1,862,000 in the Reserve Account. ● Year to date, the HOA is operating within both its Operating and Reserve Budgets ● We have collected $1,023,000 (60%) of the 2025 Special Assessment that is currently due. ● The HOA is in sound financial condition

Homeowner Questions & Answers

Mr. Bertelsen invited public questions for the BOD and General Management from Homeowners in attendance. Discussion ensued on the following topics:

● Expressions of gratitude associated with the quality of work being performed by the general manager

● Parking improvement ideas

● Perimeter security and trespassing ideas

Adjournment

There being no further business, the meeting was adjourned.