Law Offices

Lipshutz Greenblatt LLC

One West Court Square, Suite 700 Decatur, Georgia 30030 (404) 688-2300 Facsimile (404) 378-2004 www.lgklaw.com
Robert J. Lipshutz (1921-2010) Edward L. Greenblatt (Emeritus) Randall M. Lipshutz Tracy L. Lettsome Jody L. Peskin Jacob R. Davis Of Counsel James V. Zito

February 28, 2012 Via Certified Mail, Return Receipt Requested No. 7107 8107 3722 2008 7192 Glen Iris Lofts Condominium Association, Inc. C/o Community Management Associates, Reg. Agent 1465 Northside Drive, Ste. 128 Atlanta GA 30318 Re: Inspection of corporate records

Dear Sir or Madam: This firm has been asked to represent Christopher Gorton and a group of other members of the Association in connection with their membership in the Association. My clients are members of Glen Iris Lofts Condominium Association, Inc., and this letter is written in connection with the rights they have as members of the Association. Please direct all future correspondence concerning the requests made in this letter to the undersigned. To begin with, section 6.02 of the Associations bylaws provides: The Association shall keep at the office of the Association a record giving the names and addresses of the Directors, of all members of the Association and of the holders of all mortgages on the Condominium Units, which shall be furnished by each Owner pursuant to Section 6.10 of these Bylaws. Section 6.03 of the Bylaws goes on to provide: Subject to any further restrictions adopted by the board consistent with the provisions of Georgia law, the books, records and papers of the Association shall at all times during reasonable business hours be subject to inspection by any membger or his agent or attorney for any proper purpose. Some members of the Association who are part of the represented group have previously made requests to review certain association documents, but those requests have not resulted in cooperation from the Association nor have the requested books and records been made available for inspection. This letter restates the request that the books and records of the Association be made available for inspection by my clients. While my clients would have preferred to review records of the Association without the intervention of legal counsel, the failure by the Association to respond to prior requests and the lack of information otherwise provided by the Board have forced them to seek legal assistance. As a result, this letter is framed under the provisions of the Georgia Non-profit Corporations Code, including the provision that a failure of the Association to make books and records available for inspection can result in a mandatory award against the Association for the legal fees of my clients. O.C.G.A. 14-3-1604(c).

Glen Iris Lofts Condominium Association, Inc. February 28, 2012 Page 2 First, my clients request that the list of names and addresses of the directors of the Association be made available for review and copying. This is a document the association is required to maintain and provide, and no further reason for review of that record is required. Further, my clients request a copy of the members list prepared for the December 14, 2011 annual meeting showing the names, addresses, and number of eligible votes for each member which was required by O.C.G.A. 14-3-720(a). If that list is not available, my clients will accept a current members list showing names and addresses of all members. The addresses shown should be the addresses used by the Association to give formal notices of meetings of the association membership. To the extent that O.C.G.A. 14-3-1605 applies to the members list, my clients will not use the membership list for any commercial purpose, buy or sell the members list, or use it for any purpose unrelated to their interests as members of the Association. Pursuant to O.C.G.A. 14-3-1601, the Association is required to maintain adequate business records, including minutes of membership and board meetings at which actions are taken by the board of directors. Further, O.C.G.A. 14-3-1602 provides that records are to be made available to members for purposes reasonably relevant to a members legitimate interests as a member. Among those records would be the ballots, proxies, sign in sheets, and other materials in connection with the December 14, 2011 annual meeting of the Association. My clients have questions about whether the meeting was properly conducted and whether ineligible votes were cast and counted in the election of directors. It appears that invalid proxies were honored that were not signed by the property owners resulting in an invalid election of directors. It is within my clients legitimate interests as members of the Association to verify whether the persons currently claiming to be elected directors were, in fact, elected by valid voters. As a consequence, my clients wish to review, inspect and copy all records of the proxies, votes, eligible voters list, and elections from the December 14, 2011 meeting of the members. Please note that such records should also be maintained by you pursuant to O.C.G.A. 24-4-22 in anticipation of possible litigation over the election, and spoilation of any such documents may result in a presumption that the documents destroyed would have proven the invalidity of the election. Further, my clients request that they be allowed to review the report by Ray Engineering mentioned in the mentioned in the minutes of the September 11, 2011 board of directors meeting. My clients also wish to inspect any proposals for major maintenance work at the Association (defined as proposals for projects that will cost in excess of $25,000 to complete) received during the last 12 months, and any proposals for loans to fund such work. These items would include, but not be limited to, the bid mentioned in the October 10, 2011 board minutes from Engineering Restorations, and any bid received from Waterproofing Contractors & P3 Painting & Restorations Group (the receipt of the P3 bid being mentioned in the November 7, 2011 board minutes). Those reports, proposals and contracts are relevant to my clients legitimate interests as members of the Association as the proposals and contracts will impose serious financial obligations on the Association which my clients, as members, will be required to fund. It is in my clients legitimate interests as members of the Association that they be allowed to inspect and copy the proposals and

Glen Iris Lofts Condominium Association, Inc. February 28, 2012 Page 3 contracts so that they can become informed on possible actions by the Association that will directly impact them financially. Further, my clients wish to inspect all maintenance contracts of the Association for services to the common areas of the Association that are currently in effect or which have been in effect over the last 12 months. Over the last number of months, the property has fallen into disrepair and has become unkempt, which conditions affect directly my clients property values and their interests in the Associations common property. It is in my clients legitimate interests as members of the Association to review what contracts are or have recently been in place to evaluate whether and how to address the deteriorated conditions to the Association, its board of directors and its management. Finally, in the November 7, 2011 minutes, it states that the board finalized and approved the 2012 annual budget by e-mail rather than at a board meeting where minutes were recorded. Please make available any such e-mail that discusses or approves a budget proposal for 2012. Those e-mail records are required to be maintained as actions of the board outside of a board meeting, and they are required to be made available for the same reasons as the other financial documents requested in this letter. All records requested will be used only for the purposes stated in this letter. My clients intend to inspect the records at 10:00 a.m. on March 7, 2011 at the registered office of the Association at 1465 Northside Drive, Suite 128, Atlanta GA 30318. If there is a different location preferred, please advise. Please be certain that facilities are available at the inspection for copying of documents so that the documents do not need to be transported to make copies at a different location. You may contact the undersigned if any minor adjustment of the inspection date, time or location is requested. The documents should be made available at that time for inspection and copying to the extent desired by my clients. Sincerely,

Randall M. Lipshutz RML/jrb cc: Community Management Associates by e-mail to Dhoffman@cmacommunities.com Addressee by first class mail Christopher Gorton