CENTRAL 1 O C S C C No

CENTRAL 1 O. C. S. C. C. No. 903 Annual General Meeting –November 15, 2016 1

AGM Agenda • • • • Confirmation of Quorum Introductions: Board of Directors, Property Manager, Auditor, Chair Presentation of Audited Financial Statements: Annette Jensen, WG Chartered Accountants Appointment of the Auditor for Current Fiscal Year Approval of the November 18, 2015 AGM Minute President’s Report Appointment of Scrutineers Nominators Election of one (1) Director – Election of 1 position for a 3 year term for which Resident Owners only may vote Election Results Motion to Destroy Ballots General Discussion 2 Adjournment

CENTRAL 1 O. C. S. C. C. No. 903 Annual General Meeting –November 15, 2016 President’s Report – A Year in Review 3

A Year in Review • Introductions • Reserve Fund Study Update • Financial Summary • Items of Interest • General Reminders • Questions 4

Introductions Board Members • • • Marty van Gaal (term ending Fall 2018) – President Rick Butson (term ending Fall 2017) – Secretary Krista Nonnenmacher-Biddiscombe (term ending Fall 2016) – Director Property Manager (Taggart Realty Management) (1 year contract – May 31, 2017) • Michelle Compton (email: mcompton@taggart. ca) • Viktoriya Neadow (assistant) Concierge (employee of the Condominium Corp) • Patrick Lebrun (email: conciege@central 1 condo. com) 5

Reserve Fund Study Objective a) b) c) d) e) Set up a schedule for the anticipated repair and replacement of common element items Create a special account for major repair items and replacement of common elements and assets of the Corporation Determine the annual contribution necessary to maintain an adequate balance - for the 30 year period of the study Satisfy the legislation regarding the Condominium Act, 1998 and related regulations Follow Investment Rules a) b) f) All investments must be 100% guaranteed Federal or Provincial (no limit), Banks ($100, 000 CDIC insured) Update study every 3 years (paper followed by full inspection) a) b) c) Paper Study - spring of 2016 (completed) Full Study – spring 2019 Study cost is paid from the reserve fund 6

Reserve Fund – Plan and Financial Summary • 2016 Paper Study Completed – 2% increase for next 3 years – assumption of 2% inflation and 3% interest for next 30 years • Current Audited Balance as of May 31, 2016 $1, 190, 005 –investing in 1 to 5 year GICs (rates of 1. 7% to 2. 26%) – Withdrawal • $28, 713 for Gladstone Replacement Garage Door • $2, 170 for 2016 Paper Study • Planned Withdrawals in 2016 -2017 • $50, 467 for Parking Garage Membrane Repair (partial) – planned for in Reserve Fund Study 7

Reserve Fund – Investment Plan • Current GIC Investments (as of May 31, 2016) Institution Amount Interest Rate Maturity Date MCAN $96, 975 2. 15% June 13/16 Manulife Bank $95, 871 2. 01% Dec 16/16 Home Equity $95, 516 1. 95% Feb 20/17 BNS $96, 575 1. 7% June 9/17 Equitable NC $96, 131 2. 05% Oct 31/17 HT $96, 877 2. 05% June 15/18 Equity $95, 893 2. 06% Dec 17/18 Nat CAN $50, 566 2. 06% Nov 12/19 NBC $86, 590 2. 10% July 10/20 SMC $50, 764 2. 15% Sept 14/20 MTL $95, 980 2. 26% Dec 16/20 NTL Trust $50, 344 2. 15% Feb. 4/21 HWB $100, 640 2. 15% Feb. 12/21 SMC $50, 138 2. 10% Apr 13/21 • Future Investments - $50, 000 GICs (approx. every 2 months) –$32, 701 in interest saving account (as of May 31, 2016) 8

Contracts Contractor Term Management Taggart Realty Management May 31, 2017 Auditor WGPCAS Next AGM Elevator Schindler Elevators August 8, 2033 Mechanical Optimum Mechanical Solutions June 30, 2018 Landscaping/Roof Always Growing Fall 2016 Exercise Equipment Exer-Tech 30 day notice Fire Alarm Pyron Fire Protection Sept 2017 Co 2 Detection Armstrong Monitoring 30 day notice Tri-Sorter (Compactor) WSG (Lease) June 2018 Insurance Smith Petrie Broker June 8, 2017 Snow Removal Marsden 2016 -2017 Water Treatment Rochester Midland 30 day notice Generator Gal Power Sept 2017 Security Shield Security Notice Given (new firm starting in January ) Cleaning North Star September 31, 2018 (2015 – all cleaning combined into one contract) Hydro Ener. Care 10 year – January 18, 2019 (must give 8 months notice to cancel) Green Loan Laurentian Bank October 1, 2017 ($95, 042 remaining) Garage Doors Parsons/RAM 30 day notice 9

Shared Facility Allocation Description Allocation to Commercial Gas 20% Electricity 20% Generator 20% Gladstone and Mc. Leod Garage Doors 20% Loading Dock Door (ground level) 50% Emergency Monitoring 20% Fire System Maintenance 20% Insurance 20% Garage General Maintenance 20% Landscaping 20% 10

Financial - Summary • 2015 -2016 Year End – Operating Cash Surplus - $206, 109 (previous year -$239, 525) – Reserve Fund - $1, 190, 005 (previous year - $894, 867) – Surplus is invested ($95, 000 at 1. 9% maturing May 26, 2017, $57, 084 in high interest saving account) • 2016 -2017 Financials – Hydro /Water - over budget by $24, 353 – Sept 2016 financials – projecting a surplus – 2. 0% increase (previous year - 5. 06% reduction) • 2% increase in Operating Budget • 2% increase in Reserve Fund – 46. 2 cents/sq ft/month (previous year was 45. 3 and before 48. 0) – Green Loan Retirement • $95, 042 balancing owning on October 1, 2017 • Will utilize portion of operating surplus to pay out the balance remaining 11

Other Items of Interest • Information Session – June 7, 2016 (presentation of annual budget) • New rules – rolling screen door – bike tags (free) – control abandoned bikes – Saturday moving ($) and use of Mc. Leod elevator – locking ring (for bikes) in parking spaces – Fitness Room – 5: 30 am (M-F) – Pet wording (dog to pets) • Proposed Bylaw and Rules coming: – To reduce insurance cost – change to standard unit description and deductible – Christmas lights on railing • 10 additional bike racks installed in P 1/P 2 • Smoking Survey – not conclusive, 50/50 • Amenity Room – Folding chairs purchased instead of ongoing rentals • Gladstone Garage Door replaced • Agreement with Central 2/3 for sharing after-hour coverage • Gladstone Garage Door coded door entry device (bikes, foot traffic) • Building appraisal for insurance – increased from $54. 5 m to 69. 4 m (increase of insurance premium by $9, 170) • 24/7 monitoring of 10 floor mechanical room • FOB audit is planned • Plan to rent out small parking 12 space in P 2

Other Items of Interest (continued) • Bars for Real Estate lock boxes (Gladstone/Mc. Leod drive through area) – other real estate boxes in and around building will be removed • Minimum of 6 Month Leases – Short term use of units (e. g. Air Bn. B) not allowed • Issues with HVAC (heat pumps) in Units – Unit owner responsibility • Screen door bulk purchase – 40 units took part • HVAC maintenance – bulk discount • Glass Breakage – Thermal Shock – keep blinds a bit open during extreme temps • Bundled telecom from Roger’s (saving of $510 per month) • Monitor to be installed at Gladstone Desk – visibility of security guard • All unit doors MUST be on a Condo Master Key system • Winter carpets replaced • Plan to repaint garage floor lines and numbers • Deputized Concierge and Board Members to issue by-law parking infraction tickets and tow vehicles • Installation of no-parking signs • Clothing and bottle deposit donation boxes • Elevator – tile replacement and wood protective flooring for moves • Central 1 residents are not entitled to the use of Central 2/3 facilities 13

Other Items of Interest (continued) • Scheduled Items o Regular Maintenance (every 2 months) o Garage Doors, Garbage Chute/Compactor, Boilers, Closed Water Loop, Fitness Equipment, Elevators, Landscaping o General Cleaning (7 days per week, 5 days - entire building – 2 days - elevators and lobbies) o Carpet Cleaning (entire building 2 times/yr, 2 nd Floor 4 times/yr) o Spot cleaning between o Window Cleaning (annual) o Garage Floor Cleaning (spring and fall) o Weekend Security (Friday and Saturday – 7: 30 pm to 2: 30 am, Sunday 7 pm to 11 pm) 14

Volunteers Wanted! • Landscaping –What to do with Courtyard and Gladstone –Ongoing maintenance (spring – summer – fall) • Enercare Replacement Options • Monthly Financial Reviews and Comparison to Budget –Report to Board 15

Communication • Owner to Owner for issues that are impacting each other (e. g. noise, general water leaking/damage, smoke) • ONLY the owner (except for emergencies) is to communicate with the Property Manager • Owner can make a request to communicate with the Board (via Property Manager or Suggestion Box) • Renter – (except for emergencies – e. g. water leaks) report issues/concerns to their LANDLORD ONLY • Owner is responsible to communicate the name (s) and contact information of their tenant to the Property Manager and provide a copy of the lease • Owner is responsible for the actions of their tenant • Owners are responsible to inform their tenant of declarations, bylaws and rules • Serious problems in a unit (e. g. fire, major water spill) that will seriously impact other units are to be reported immediately (911, Concierge, Property Manager, After-Hour Emergency Line) 16

Communication (Continued) • Communication with Concierge – – – – Booking the Amenity Room and Elevator (for moving) Reporting possible Declaration, Bylaw and Rule infractions Parcel pickup Reporting Common Element Issues (e. g. Garbage Room/Chute, Amenity Room – AV system, Fitness Equipment, Garage Doors) Changing Unit Lock Cylinder (must stay on building master key system) Not involved with issues within the unit (e. g HVAC and thermostats, HRV) or issues from other units (unless deemed an emergency) Hours at Gladstone Desk (between these hours, somewhere in building) • Monday to Thursday, 8: 00 am to 8: 30 am and 4: 30 pm to 5: 00 pm • Friday, 8: 00 am to 8: 30 am and 2: 30 pm to 3: 00 pm • central 1 condo. com (continually upgrading) – – – Booking forms (elevator, amenity room) Abloy cylinder order form General Information (e. g. programming thermostat) Declarations, Bylaws, Rules Amenity Room Booking (must book if 8 or more in attendance) Contact Information 17

Reminders for Owners and Residents • Reminder notices will be issued to residents, followed by warnings, administration fees, etc. • Balconies/Terraces – – – Permitted: Plants (completed form to property manager), Screen Door (completed form to property manager) quality seasonal furniture, electric barbeques only Not Permitted: items on hanging on railings, gas/charcoal barbeques, bikes, non-patio items (e. g. tires, picnic coolers, sports equipment, boxes), non-outdoor rugs, camping chairs, dead plants, laundry racks/clothes drying, pet litter pans/grasses, etc. Weeding of terraces is an owners responsibility (extra strength vinegar) • Parking Spots – – No storage of any items, only bikes allowed. Can only be rented to residents and sold to unit owners • Noise & Disturbances: – – All residents are entitled to quiet enjoyment of their unit. Report disturbances to Concierge/Security Guard Keep Log and Report to Ottawa By-Law (3 -1 -1) City Councillor (Catherine Mc. Kenny) for issues outside the building (613 -580 -2424) • Bicycles – not allowed on balconies/terraces nor in elevators or lobbies • Water Escape – largest condo insurance claim - locate your units water shut-off – normally in back of bathroom vanity panel 18

Reminders for Owners and Residents • Smoking: – – – Not permitted in any common area, including 2 nd level courtyard and stairwells Do not throw cigarette butts from balconies Dispose of cigarettes in disposal receptacles (e. g. not in plant pots) • Control Your Pets: – – Not allowed in Courtyard, Fitness Room, Amenity Room. Must be on leash in all other common element areas of the building (ingress and egress) – “No dog business” on exterior landscaping beds and exclusive use common element balconies/terraces. • Damage & Theft: – – Residents are responsible for the actions of their guests Theft and damage of condo assets cost everyone • AV System, Damaged Walls, Pool Table, Fire Exit Map, Fire Extinguishers, Glued Door Bolts, Open Fire Hose 19

Reminders for Owners and Residents • The Condo Corporations responsibility ends at a unit door. The owner is responsible for all items within their unit, such as – – – Entry Doors - handles/locks Replacement and/or cleaning of filters Issues with the HRV (Heat Recovery Ventilator) and HVAC (Heating, Ventilating and Air Conditioning) Items related to interior plumbing and fixtures Noises generated from within the unit Wood flooring • Importance of Unit Owner’s carrying their own personal insurance – – – Provide a copy of the standard unit description and corporation’s updated insurance certificate to their insurance company to ensure that you are properly covered Included with your purchase and sale documents Can request documents from our Property Manager 20

Backup Slide 21

5 Year Condo Fee Summary Year 1 Year 2 June 2012 - May June 2013 -May 2014 2013 24. 55% 3. 94% 162. % 47. 1 cents Year 4 Year 5 June 2014 - May 2015 June 2015 - May 2016 June 2016 - May 2017 % Change Total Condo $861, 778 $1, 073, 377 Fees Operational $749, 372 $778, 873 Reserve Fund $112, 405 $294, 504 Price Per Foot 37. 9 cents Year 3 % Change $1, 094, 845 2. 00% $794, 450 2. 00% $300, 394 2. 00% 48. 0 cents % Change $1, 033, 578 $727, 176 $306, 402 -5. 60% -8. 47% 2. 00% 45. 3 cents $1, 054, 250 $741, 720 $312, 530 2. 00% 46. 2 cents 22

June 1, 2016 to May 31, 2017 Budget 23

June 1, 2016 to May 31, 2017 Budget 24