Re: Body Corporate Property at Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Annual General Meeting

Transcription

1 7 April 2015 Dear Owner Re: Body Corporate Property at Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Annual General Meeting In accordance with the Notice of Intention to Hold the Annual General Meeting ("AGM") sent to you on 20 March 2015 we advise that the AGM is to be held at 6:30 PM on Thursday, 23 April 2015 at the The Amora Hotel, Amora Room 4, 170 Wakefield Street, Wellington. Please find enclosed: the agenda for the meeting; extracts of the Unit Titles Act 2010 and Unit Titles Regulations 2011 in the notes of the Agenda; the Financial Reports for the period ending 31/03/2015; competitive insurance quotations for the renewal of the Body Corporate's insurance policy; the proposed budget for the period 1/4/2015 to 31/3/2016; a proxy form for you to complete if you are unable to attend the meeting and wish to appoint someone to represent you; and a postal voting form for you to complete if you wish to vote at the meeting without appointing someone to represent you. I look forward to seeing you at the Annual General Meeting. Should you have any queries or require any further information prior to the meeting please do not hesitate to contact me. Yours sincerely, Paul Roux Senior Body Corporate Manager 1 Agenda Page 1 of 82

2 BODY CORPORATE NO ("BODY CORPORATE") Property at Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 NOTICE IS HEREBY GIVEN that the Annual General Meeting ("AGM") of the Body Corporate will be held in The Amora Hotel, Amora Room 4, 170 Wakefield Street, Wellington on Thursday, 23 April 2015 commencing at 6:30 PM. AGENDA: 1 APPOINTMENT OF CHAIRPERSON OF THE MEETING The Body Corporate Chairperson is to chair the meeting (refer to Regulation 11(c) of the Regulations 2011). 2 APOLOGIES, PROXIES AND POSTAL VOTES To consider the resolution: That the apologies, proxies and postal votes be accepted. 3 FINANCIAL STATEMENTS Discussion of the appended Financial Report and to consider the resolution: That the Body Corporate approves the Financial Report for the period 1 April 2014 to 31 March Note that the audited financial statements for the year ended 31 March 2014 have been accepted by the committee, a copy is appended for information. 4 REPORT FROM THE COMMITTEE In accordance with Regulation 28(1) and 28(3) (refer to notes) to receive a report from the Committee (A copy of the Committee report is attached to this agenda) and to consider the resolution: That the Committee's report is adopted. 5 BODY CORPORATE INSURANCE Discussion of the Body Corporate's insurance requirements and the enclosed competitive insurance quotations and to consider the resolution: That the Body Corporate insures with Vero Insurance New Zealand Ltd (to be decided at the meeting) at the quoted premium of $246, for the period 7 June 2015 to 7 June INSURANCE EXCESS To consider the resolution: THAT where a claim either affects the interior of a unit and no other unit or common property is affected, the owner making the claim is to pay the excess but where a claim affects more than one unit, or the common property the Body Corporate is to pay the applicable excess and may on charge the unit which caused the damage if identifiable. Refer to the quotation attached for policy excess and other details. 2 Agenda Page 2 of 82

3 7 CHAIRPERSON OF THE BODY CORPORATE Explanation of Regulation 11 pertaining to the duties of the Chairperson (refer to notes). (i) Election of Chairperson: A nomination has been received for Peter Gibson to be appointed as Chairperson of the Body Corporate. In accordance with Regulation 10 of the Regulations to consider the resolution: That the Body Corporate appoints Peter Gibson as the Chairperson of the Body Corporate. (ii) Honorarium: In recognition of the significant amount of time and work carried out by the chairperson during the year on behalf of the body corporate to consider the resolution: THAT the chairperson of the body corporate be paid an honorarium of $5,000 per annum plus GST. 8 COMMITTEE Discussion of the role and responsibilities of a Committee, including the potential delegation of the Body Corporate's powers and duties to the Committee. Nominations have been received for the owners listed below to be appointed to the committee: Peter Gibson Benjamin Wood Peter Delaney Jeff Ashby Sam Wiffen Ross Clarke Rob Gordon One of Barry Soper or Heather DuPlessis- Allan To consider resolving: (i) Appoint Committee: That the Body Corporate elects a Committee of EIGHT members, which shall have a quorum of FOUR members listed above; AND (ii) Delegate powers to Committee: By special resolution that pursuant to Section 108(1) of the Unit Titles Act 2010 the Body Corporate hereby delegates all of its powers and duties to the Body Corporate Committee, save those powers reserved to the Body Corporate under Section 108(2) of the Act, until the next general meeting of the Body Corporate and that this resolution is evidence of the Committee's authority to perform the powers and duties so delegated to it and serves as notice of delegation and that the Committee will report to the Body Corporate on an annual basis regarding its performance of these powers and duties; AND (iii) Office Bearers cover: That Strata is to obtain competitive quotations for Office Bearers' Liability Insurance sufficient to cover the Committee members and the Chairperson and is to submit these to the Committee for consideration and acceptance of the most competitive premium; AND Agenda Page 3 of 82 (iv) Committee/Chairperson indemnity: Body Corporate holds harmless and indemnifies its Committee and the Chairperson of the Body Corporate and the members of same (jointly and severally) against all costs, expenses, claims and proceedings and any other liability of any sort incurred by them in the exercise or attempted exercise of their powers as a Committee/Chairperson and as members of the Committee taken in accordance with the provisions of the Rules of the Body Corporate and of the Unit Titles Act 2010 and Regulations 2011, 3

4 but not against any act or omission done fraudulently or with willful misconduct. AND (v) Committee honorarium: That the committee members be entitled to an honorarium of $250 each per annum to cover incidentals related to attending meetings. 9 BUILDING MANAGER'S REPORT To receive a report from the Building Manager (a copy is attached to the agenda) and to consider the resolution: That the building manager's report and recommendations, subject to any direction of the meeting is adopted. 10 COMMON MAINTENANCE MATTERS Discussion of common maintenance matters and to consider resolving: That the Body Corporate's Committee is to agree and approve the maintenance required over the forthcoming year. 11 ADDITIONAL LIFT The committee and building manager has been closely monitoring the performance of the existing two lifts which are often operating at capacity. If one lift breaks down temporarily it creates delays for residents. This has been clearly communicated to Otis, the existing contractor. Further to this, the committee has considered the option of installing an additional passenger lift to be located on common property at the Egmont Street rear access to the building. Please refer to the depiction and proposed location on the documents attached to the agenda, as well as the report on the issue located in the building managers' report for reference. To put this proposal to owners to gauge the level of support and if supported to pass resolutions to allow the committee to progress the installation including funding thereof. It may be a combination of funding is preferred. To consider resolving: Whether to proceed (or not): (i) That Body Corporate is to proceed with installing an additional passenger lift at an estimated cost of $575,000 plus GST; AND Funding by levy: (ii) That the cost of $575,000 plus GST is to be levied on all owners by ownership interest via the proposed budget; OR Funding via contingency fund: (iii) That the cost of $575,000 plus GST is to be funded via the contingency fund over the next three years such that the fund is topped up with additional contributions each year, commencing next year, sufficient to cover the requirements of the Long Term Maintenance Plan and repay the cost of the lift to the fund; OR Funding by external source: (iv) That the cost of $575,000 plus GST is to be funded by an external third party funding provider on terms and conditions to be negotiated by the Committee on behalf of the body corporate; AND Authority to committee: (v) That the Committee is authorised to place the related contracts, oversee the work and authorise payment of invoices; 4 Agenda Page 4 of 82

5 AND Amended unit plan (special and, if passed, designated resolution ref S ): (vi) That Body Corporate resolves by special resolution to amend the Unit Plan to facilitate and record the location of the lift on common property in accordance with the sketch on the attached plan. 12 STAIRWELL 1 REDESIGN To receive a report from Martin Meyers, structural engineer, on the condition of stairwell one, his recommendations to redesign the stairwell and estimated cost thereof. In brief, the proposed design provides for a support frame at ground level and providing separations at each level to allow for movement. To consider resolving: Approve project and estimated cost: (i) That the body corporate accepts the redesign presented by Martin Meyers (to be presented to the meeting, copy of design available on web portal or on request) as well as the estimated cost of $139,678 plus GST (copy appended to the agenda) which is to be levied on owners by ownership interest; AND Committee/Chairperson authority: (ii) That the committee and Chairperson is authorised to accept associated contracts on behalf of the body corporate, sign documents, oversee the work and approve associated invoices on the recommendation of the structural engineer. 13 EXTERNAL SIGNAGE The committee has continued investigating options of leasing parts of the exterior (in particular the Southern wall on Taranaki Street) for signage units in order to generate income to offset Body Corporate fees. The building Manager has contacted four of the main billboard suppliers in Wellington to discuss options. Wellington City Council resource consent requirements are challenging in this regard. Investigations to date indicate that the cost of proceeding with this proposal may exceed the estimated income. Investigate further (or not): To receive a report from the building manager, to discuss the matter, receive instructions from owners and to consider resolving; That the committee is to investigate the viability of the proposal to lease parts of the exterior of the building for signage units further. 14 EQC SETTLEMENT Newsletters setting out details in regards to the EQC settlement have been sent to all owners in December 2014 and March In essence, damage occurred to common, private and building elements contained within private property. The advice received by the committee recommends that an engineer be appointed to review the settlement from the body corporate's perspective in relation to common property damage and any building elements which may be situated in private property, then to report whether there are grounds for dispute. The issue of the design of the stairwell 1 is unlikely to fall under the EQC clam and is to be handled separately under the advice of an engineer. The funds received in regards to private property repairs need to be applied to the cost of carrying out those repairs. Owners each have a responsibility under the Unit Tiles Act 2010 as amended ("UTA") section 80 (1) (g) to repair and maintain private property and to ensure that no damage is, or has the potential to be, caused to the common property or any other unit. The decision to distribute these funds to owners, less the $200 excess, will be confirmed at the AGM. The advice is that owners need to confirm that repairs have been carried out/that the funds will be applied to the repairs. The great majority of claims for damage within units appears to relate purely to private property damage, however, a few may relate to "building elements" as defined in the UTA (see definition in the Agenda Notes). This is to be confirmed by the engineer and is treated differently under the UTA. 5 Agenda Page 5 of 82

6 Once the cost of the required repairs to common property has been established this will be compared to the settlement received (less the excesses) and to what work has already been carried out and paid for. Any difference between the cost of repair and settlement will need to be levied on owners by utility interest (same basis as your ordinary levies). To consider resolving: Authority to raise a levy for common repairs if required: (i) That once the total cost of the common property and building elements relating to or serving more than one unit remedial works is established that the Body Corporate committee is authorised to raise a special levy to cover any shortfall between the cost of the works and the settlement received less the excesses taking into account work already paid for, to arrange for the required remaining work and authorise payment of related invoices; Distribution of private property funds: (ii) That pursuant to Section 131 of the UTA, Body Corporate reimburses all EQC settlement money related to private property elements that are not a body corporate responsibility to owners in proportion to the settlement statement provided by the EQC dated 23 October 2014 less the related $200 excess per unit upon confirmation by the owner of repair of those private property elements or an undertaking that the funds will be applied to those repairs and that the Body Corporate relies on the undertaking; Building elements in private property: (iii) That the Committee is authorised to pay for the repair of any building elements which relate to or serve more than one unit contained within private property from Body Corporate funds and that once the work is completed and paid for that the affected owners are invoiced under S138 (4) of the UTA for the cost thereof; Ratify appointment of engineer: (iv) That Body Corporate ratifies the committee decision to appoint an engineer to: determine the extent of building elements located in private property which require repair related to the EQC settlement; to advise whether the common property and building element portion of the EQC settlement should be accepted or disputed and to provide any other professional advice as required by the Body Corporate; Treatment of interest: (v) That interest earned on the EQC settlement funds over this period be retained in body corporate funds to offset common property repair costs. 15 LONG TERM MAINTENANCE PLAN To discuss the Body Corporate's obligation to review the Long-Term Maintenance Plan ("LTMP") in accordance with Section 116 and Regulation 30. To consider the resolution: That the Body Corporate's Committee is to arrange for the Long-Term Maintenance Plan to be reviewed as required under Regulation EMBEDDED NETWORK To receive a report on the performance of the embedded network (copy appended) and to consider the resolution: "THAT the embedded network reports for the period to 31/3/13 be accepted". 17 BUDGET AND LEVIES To consider the proposed budget (copy appended) for the Body Corporate for the period 1 April 2015 to 31 March 2016 and to consider the resolutions: Agenda Page 6 of 82 (i) That the Body Corporate adopts a budget of $2,010,150.50* (was $1,193, last year) for the period 1 April 2015 to 31 March 2016 and sets a levy due dates as 20 MAY 2015 (60% OF BUDGET) AND 20 SEPTEMBER 2015 (40% OF BUDGET); * Note that the proposed figure of $2,010, comprises $944, for the operating budget 6

7 (was $956, last year) plus $244,007 contribution to the contingency fund as per the LTMP (was $236,900 last year) plus $661,250 provision for the additional lift which is to be voted on by owners ($Nil last year) plus $160, provision for structural work to stairwell one ($Nil last year), all figures quoted here include GST. Owners instructions related to the additional lift and how it is to be funded will impact on the final budget approved at the meeting. AND (ii) That Strata is authorised to pay accounts on behalf of the Body Corporate as they fall due. 18 DEBT RECOVERY REGIME To consider the following resolution: That if a duly authorised levy is not paid by due date that owner would be charged interest at 10% per annum payable to the Body Corporate, debt recovery costs and any Tenancy Tribunal and/or other Court costs in accordance with the following procedure: If payment of a levy is not made by the due date a reminder letter is sent to the defaulting owner requesting payment of the levy and stating that if the levy is not paid within seven days a "late payment" charge of $ plus GST will be incurred; [ letter # 1] if no payment is made a second debt collection letter is sent requesting payment of the levy plus the $110.00, and stating that if these amounts are not paid within seven days an additional fee of $ plus GST will be charged; [letter # 2] if still no payment is made, another letter is sent to the defaulting owner seeking payment of the levy plus fees and imposing further debt collecting cost of $ plus GST, if the outstanding amounts are not paid within seven days; [letter # 3] if after all this, the levy and charges still remain unpaid the Body Corporate's agent will be instructed to take Tribunal action to obtain a Money Order for all levies and charges. In the event that the Money Order remains unpaid Strata may provide to the Body Corporate's solicitor (Price Baker Berridge) the Money Order to enforce payment. Such enforcement to include, amongst other things, a Charging Order against the property; pursuant to Section 171(3) of the 2010 Act, Body Corporate hereby appoints both Price Baker Berridge ("PBB") and Unit Titles Disputes Resolution Ltd ("UTDRL") to act as its agent on behalf of the Body Corporate in relation to any dispute before the Tenancy Tribunal and that PBB or UTDRL may jointly or solely act as agent for the Body Corporate; the filing fee of $ is payable by the Body Corporate but to be recovered from the owner. 19 AUDIT OF THE BODY CORPORATE'S FINANCIAL STATEMENTS Explanation and discussion of the audit requirements in accordance with section 132 of the Act (refer to agenda notes). In accordance with this section to consider resolving: EITHER: (i) FULL AUDIT (estimated cost $5,000 plus GST) THAT the committee is to arrange for the Body Corporate's Financial Statements to be submitted to an independent auditor for auditing within 2 months of the financial year end (Section 132 (2) (a)); OR: (ii) REVIEW (estimated cost $2,500 plus GST) THAT the committee is to arrange for the Body Corporate's Financial Statements to be submitted to an independent auditor for review within 2 months of the financial year end (Section 132 (2) (b)); OR: (iii) NO AUDIT By special resolution THAT section 132(2) of the Act does not apply to the Body Corporate for the forthcoming year (Section 132 (8)). AND: THAT the committee is authorised to accept the audited/reviewed financial reports. AND: 7 Agenda Page 7 of 82

8 THAT all transactions of the Body Corporate are to continue to be made through the trust account of Strata, the Body Corporate Manager which is subject to two monthly rotational audit, except transactions made through the contingency fund which is held in a separate interest bearing saver account controlled by the committee, or invested in term deposits as instructed, and that the committee is to instruct as and when funds held in the working account are to be invested in an interest bearing account, further that any interest earned be applied towards the cost of the independent audit. 20 GENERAL BUSINESS 21 HEALTH AND SAFETY REFORM BILL The Health & Safety Reform Bill ("Bill"), which replaces the Health & Safety in Employment Act 1992, is likely to come into force in the second half of this year. The Bill introduces the concept of a Person Conducting a Business or Undertaking ("PCBU") which is the principal duty holder under the Bill. In a body corporate context, the body corporate owns the common property and for the purposes of the Bill is a "person" and is therefore a PCBU. The body corporate will carry out work from time to time which is considered an "undertaking". Bodies corporate will be required to have a health & safety plan ("Plan") to meet the requirements of the Bill. There will be significant penalties for a failure to comply. There are a number of suppliers of appropriate Plans in the market to provide assistance. Soho has an existing plan which may require update. To consider the resolution: "THAT the body corporate authorises the Chairperson/Committee to arrange for the Body Corporates Health and Safety plan to be reviewed by a suitable professional company such that it complies with the requirements of the Health and Safety Reform Bill once it comes into force." 22 MINUTES TO BE A RECORD OF THE BUSINESS OF THE ANNUAL GENERAL MEETING To consider the resolution: That if within thirty days of distribution of the minutes Strata does not receive any written request from a person who attended the meeting to amend any part of the minutes, that the Chairperson of the meeting signs the minutes as a true and accurate record of the annual general meeting. 23 STRATA ONLINE ACCOUNT ACCESS Owners have 24 hour access to their Body Corporate information via Strata's Website. To access this service it is necessary to visit and click on the My Account button to login. If owners require their personal log in details could they please bc@stratatitle.co.nz and we will issue/reissue the necessary access number and password. Information which can be accessed via the online account is as follows: Personal address details (which can be changed on owner's instructions); Personal levy account history; and Copies of certain Body Corporate documents including: recent AGM notices, agendas, minutes, insurance certificate and rules. 24 COMMUNICATION To consider resolving: THAT if Strata has an address on file for an owner, all correspondence will be sent by only and not post, unless Strata is notified by an owner that all correspondence is to be sent to them by post only. 8 Agenda Page 8 of 82

9 NOTES: Please contact Strata Title Administration Ltd on or bc@stratatitle.co.nz if you have any questions about this agenda. Attending the Meeting or Voting by Proxy You should bring this notice with you to the meeting. If you cannot attend the meeting and you wish to cast a vote or be represented, please complete the enclosed proxy or postal voting form and return it to our office before the commencement of the meeting. Voting at the Meeting You can exercise your voting rights at the meeting in person or by using the proxy and/or postal voting form. If your unit is owned by a company the company's voting rights can only be exercised by a company nominee attending the meeting in person, or by the company's nominated proxy. You, your company nominee or any person having authority to vote in respect of your unit cannot vote on a motion for an ordinary or special resolution unless the following amounts have been paid before the meeting: all contributions levied by the body corporate that are payable at the date of this notice; and any other money that is recoverable by the body corporate from you at the date of this notice. Resolutions For voting purposes: an ordinary resolution is passed if a majority of eligible voters who vote on the resolution vote in favour of the resolution. a special resolution is passed if 75% of eligible voters who vote on the resolution vote in favour of the resolution. Quorum For a valid meeting 25% of owners must be present either in person or by proxy. Note that the minimum number for a valid meeting of a two unit body corporate is two owners. If a quorum is not reached at a general meeting of a Body Corporate, the meeting must be adjourned until the same day 1 week later and the reconvened meeting must be held at the same time and place, unless the Chairperson of the Body Corporate has notified all unit owners of a change to the time or place (or both) at least 3 days before the reconvened meeting is due to take place. The reconvened meeting must proceed, whether a quorum exists or not. Election of Committee Committee members must be the registered owner of a unit as recorded on the Computer Register (i.e. the Certificate of Title) for the unit. The 2010 Act provides that a Body Corporate of ten or more units must form a Committee but may resolve by special resolution not to form a Committee. A Body Corporate of nine or less units is not obliged to form a Committee but may resolve by ordinary resolution to form a Committee. If the Body Corporate elects a Committee, there are statutory duties that have to be fulfilled under the Act, rather like a company. Any actions taken by Committee members may incur a personal liability. The Committee is chosen by: calling for nominations (via the Notice of Intention to hold the agm); determining the number of members of the Committee; and conducting a vote for the election of members if the nominations exceed the available positions. Working Group The alternative to appointing a Committee would be to appoint a Working Group of owners. This is a more informal arrangement whereby the Working Group would oversee onsite maintenance and approve invoices for payment. Strata would still take instructions from the Working Group in the same manner as if a Committee was appointed. The principal difference would be that the Working Group would not be delegated the powers and duties of the Body Corporate. Long Term Maintenance Plan The 2010 Act requires a Body Corporate to prepare and implement a Long Term Maintenance Plan for a minimum of 10 years. Body Corporate Insurance Details Insurance policy and excess details are appended to this agenda and available on your Online Account. Payment of levies 9 Agenda Page 9 of 82

10 A levy notice will be distributed with the minutes of this AGM. Levies can be paid electronically by: Internet Banking - Banking details will be shown on the levy notice. Eftpos - Eftpos facilities are available at Strata's office. Credit Card - Credit card payments can be made by phone or at the offices of Strata. Please note that any payment by credit card attracts a 3% merchant fee. Visa/Mastercard only. Audit Whilst Strata elects to have its trust account audited every two months there is no requirement for a Body Corporate Manager such as Strata to have its trust account audited. The auditing procedure Strata has implemented is a cost effective way for Bodies Corporate to ensure that their transactions are passed through, and funds held in, an audited trust account. At each annual general meeting owners will be asked to consider resolving by Special Resolution that all transactions of the Body Corporate are to be made through the Trust Account of Strata, the Body Corporate manager, which is subject to an independent two monthly rotational audit by Battley & Johnson, Chartered Accountants, and that this process is adopted in fulfilment of Section 132 (2)(c) of the Unit Titles Act 2010 and that any interest earned on Body Corporate funds held in this account is retained by Strata to offset the operating and audit costs. If a Body Corporate chooses to pass this resolution, the cost of employing an independent auditor is avoided, and Strata will send each owner an up-to-date audit certificate (see copy attached to the agenda for this AGM) with the Body Corporate's annual accounts. The effective "cost" to each Body Corporate is equivalent to the interest (net of resident withholding tax) that would have been earned on the funds held. Thus, because any interest earned is subject to income tax at the rate of 30%, it is financially uneconomical for a Body Corporate to employ an independent auditor unless the Body Corporate has substantial cash reserves. If the Body Corporate adopts this procedure it will also avoid the imposition of bank fees. The Body Corporate will also have the peace of mind that its funds are being held in a regularly audited Trust Account. Please refer to the Audit resolutions above specific to SOHO. The Body Corporate has the choice to request by voting to do so at the annual general meeting an audit with the associated costs if they so wish. Trust Account: Strata maintains an audited Trust account for funds we receive from clients. If we are holding significant funds on behalf of your Body Corporate we will on instruction from the Body Corporate/Committee/Working Group lodge those funds in an interest bearing deposit with a bank (usually ASB Bank). In that case we will charge an administration fee of 5% of the net interest earned. Relevant extracts of the Unit Titles Act 2010 and Unit Titles Regulations 2011 Section 84 Powers and duties of body corporate Section 112 Establishment of body corporate committee Section 108 Delegation of duties and powers Section 138 Body Corporate duties of repair and maintenance Section 116 Long-term maintenance plan Section 117 Long-term maintenance fund Section 132 Financial statements Regulation 11 Duties of the Chairperson Regulation 28 Body Corporate Committee reports Regulation 30 Long-term maintenance plans Definition of Building Element "Building element" as referred to in section 138 and regulation 30 above is defined in the Unit Titles Act as: Building elements includes the external and internal components of any part of a building or land on a unit plan that are necessary to the structural integrity of the building, the exterior aesthetics of the building, or the health and safety of persons who occupy or use the building and including, without limitation, the roof, balconies, decks, cladding systems, foundations systems (including all horizontal slab structures between adjoining units or underneath the lowest level of the building), retaining walls, and any other walls or other features for the support of the building. Definition of Infrastructure Please go to the links below for further information on the above Unit Titles Act 2010 < Unit Titles Regulations 2011 < 10 Agenda Page 10 of 82

11 Financial Report 2015 Agenda Page 11 of 82

12 BODY CORPORATE PROPERTY AT TARANAKI STREET, TE ARO, WELLINGTON FINANCIAL REPORTS FOR THE FINANCIAL YEAR 01 APRIL 2014 TO 31 MARCH 2015 INDEX 1. Annual Financial Reports a) Statement of Financial Position Report (Balance Sheet) b) Statement of Financial Performance Report (P & L A/c) c) Levy Arrears Report 2. Notes to Annual Financial Reports 3. Audit Certificate - Strata Title Admin. Ltd Trust Account Strata Title Administration Ltd Dated: - 07 April 2015 Agenda Page 12 of 82

13 BODY CORPORATE PROPERTY AT TARANAKI STREET, TE ARO, WELLINGTON NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR 01 APRIL 2014 TO 31 MARCH STATEMENT OF ACCOUNTING POLICIES (a) (b) Reporting Entity These financial statements of BODY CORPORATE , TARANAKI STREET, TE ARO, WELLINGTON under the Unit Titles Act 2010, are prepared for the purpose of reporting to the Body Corporate members on the receipts and payments of the Body Corporate for the period. Under the Unit Titles Act 2010 the Body Corporate must present Financial Statements each year. Measurement Base The accounting principles recognised as appropriate for the measurement and reporting of earnings and financial position on a historical cost basis have been used, with the exception of certain items for which specific accounting policies have been identified. The financials statements of the Body Corporate are prepared on a going concern basis. (c) Specific Accounting Policies Base: The Financial Statements are prepared on a cash basis. The amount shown as Levies Due represents the full amount levied in the period, not the levies paid. Goods and Services Tax: The Body Corporate is GST registered and the amounts shown in the Financial Statements are exclusive of GST where applicable. (d) (e) Taxation Income from Interest and Dividends are taxable in the Bodies Corporate hands. The correct tax is deducted at source or available by way of Imputation Credits. All interest/dividends are recorded net of tax. Changes in Accounting Policies There have been no changes in accounting policies. All policies have been applied on basis consistent with those in previous years. NOTES TO THE ACCOUNTS 2. Capital Commitments The entity has no capital commitments as at 31 March Levies The entity has outstanding levies as at 31 March 2015 (please see attached levy arrears report); All outstanding levies, late charges, their fees and any other charges from the owners are being collected. 4. Outstanding Accounts The entity has no outstanding accounts as at 31 March Agenda Page 13 of 82

14 5. Variances and other notes to accounts - Revenue The transfer from Contingency Funds relates to the repayment of a temporary loan from the previous financial year Chairperson Honorarium has been paid as in gross. No tax has been deducted by the Body Corporate. The Chairperson is liable to pay their own tax liability for this income to IRD. - Maintenance Building Fire - False Callout expenses exceeded the annual budget due to an increased number of activations, some related to water penetration of weather exposed call points. This is being addressed. - Maintenance Grounds Pool Cleaning & Maintenance expenses exceeded the annual budget due to unexpected pool repairs along with replacement of pool pump and boiler. - Contingency Other Expenses relates to the repair and maintenance of emergency light fittings throughout the building (please refer to building manager report) and which are budgeted for in the long term maintenance plan. Agenda Page 14 of 82

15 Statement of Financial Position As at 31/03/2015 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Owners' funds Working Account Operating Surplus/Deficit--Working 108, Owners Equity--Working 85, , Contingency Fund 1 Operating Surplus/Deficit--Contingency 496, Owners Equity--Contingency 292, , Net owners' funds $983, Represented by: Assets Current period Working Account Cash at Bank--Working Account 4, Deposits--Rental Bond 1, Investments--Working 158, Receivable--Levies--Working 15, Receivable--Owners--Working 11, , Contingency Fund 1 Cash at Bank--Contingency Investments--TD--Sinking 201, Receivable--Levies--Contingency 3, Investments--TD--Sinking 100, Investments--Sinking--Saver 24, Investments--TD--Sinking 90, Investments--Sinking--Saver 323, , Unallocated Money Cash at Bank--Unallocated 8, , Total assets 945, Less liabilities Working Account Creditor--GST--Working (3,260.33) (3,260.33) Contingency Fund 1 Creditor--GST--Contingency (43,222.19) (43,222.19) Unallocated Money 07/04/ :07 Rajeev Puri Strata Title Administration Ltd Page 1 Agenda Page 15 of 82

16 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Current period Prepaid Levies 8, , Total liabilities (37,896.05) Net assets $983, /04/ :07 Rajeev Puri Strata Title Administration Ltd Page 2 Agenda Page 16 of 82

17 Statement of Financial Performance for the financial year to 31/03/2015 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Revenue Less expenses Working Account Current period Annual budget 01/04/ /03/ /04/ /03/2015 Embedded Networks Security Ltd - Revenue 35, , Insurance Claims 5, Interest on Arrears--Admin 3, Interest received from IRD Levies Due--Admin 831, , Net Interest on Investments--Admin 1, Recovery--Owner 5, Rental Income--Internet/Wifi 7, , Soho Management Ltd - BM Unit Transfer 10, Transfer from Contingency Fund 8, Total revenue 910, , Admin--Auditors--Audit Services 2, Admin--Committee Expenses , Admin--Income Tax Paid to IRD 12, , Admin--Management Fees--Standard 73, , Admin--Prep of IRD Returns (GST & Income 1, , Tax) Bldg Mgr--Building Manager Contract 60, , Bldg Mgr--Rent & opex 64, , Chairperson Honorarium 4, , Insurance--2nd Premium 3, , Insurance--Premiums 224, , Insurance--Valuation , Maint Bldg--Airconditioning--Maint Contract 1, , Maint Bldg--Building Wash 40, , Maint Bldg--Building WOF , Maint Bldg--Cleaning-Contract 47, , Maint Bldg--Electrical 19, , Maint Bldg--Entrance/Exit Security , Maint Bldg--Fire Protection 9, , Maint Bldg--Fire Protection--Testing/Monitoring 1, , Maint Bldg--Fire--False Callouts 8, , Maint Bldg--General Maintenance & 73, , Disbursements Maint Bldg--Gym Equipment 7, , Maint Bldg--Lift--Maintenance Contract 14, , /04/ :07 Rajeev Puri Strata Title Administration Ltd Page 3 Agenda Page 17 of 82

18 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Working Account Current period Annual budget 01/04/ /03/ /04/ /03/2015 Maint Bldg--Lift--Telephone 1, , Maint Bldg--Security 48, , Maint Grounds--Lawns & Landscaping Maint Grounds--Pool Cleaning & Maintenance 5, , Utility--Electricity 48, , Utility--Rubbish Removal 27, , Utility--Water Expense , Total expenses 802, , Surplus/Deficit 108, Opening balance Closing balance 85, $194, , $85, /04/ :07 Rajeev Puri Strata Title Administration Ltd Page 4 Agenda Page 18 of 82

19 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Contingency Fund Current period Annual budget 01/04/ /03/ /04/ /03/2015 Revenue 1 Contingency - Compensation - EQC Claim 320, Interest on Arrears--Sinking Levies Due--Contingency Fund 205, , Net Interest on Investments--Sinking 11, Total revenue 539, , Less expenses 1 Contingency--Bank/Admin Charges Contingency--Other Expenses 33, , Contingency--Transfer to Working Account 8, Total expenses 42, , Surplus/Deficit 496, Opening balance Closing balance 292, $789, , $292, /04/ :07 Rajeev Puri Strata Title Administration Ltd Page 5 Agenda Page 19 of 82

20 Levy Positions - In Arrears for the financial year to 31/03/2015 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Standard levies Lot Unit Paid to Due Paid Arrears Advance Working Account Special levies Due Paid Arrears Advance Interest Due Paid GST due 2 R1 19/09/2014 9, , , , /09/2014 3, , /09/2014 3, , /09/2014 2, , /05/2014 2, , , /09/2014 2, , /09/2014 2, , (0.06) /09/2014 2, , /09/2014 2, , (0.09) /09/2014 3, , (0.33) /09/2014 2, , (0.23) /09/2014 2, , /09/2014 2, , (0.03) /09/2014 2, , /09/2014 3, , (0.17) /09/2014 2, , /09/2014 3, , , /09/2014 2, , /09/2014 2, , (0.53) /09/2014 2, , /04/ :07 Rajeev Puri Strata Title Administration Ltd Page 6 Agenda Page 20 of 82

21 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Standard levies Lot Unit Paid to Due Paid Arrears Advance Working Account Special levies Due Paid Arrears Advance Interest Due Paid GST due /09/2014 3, , (0.69) /09/2014 2, , /09/2014 2, , (0.11) /09/2014 2, , /09/2014 2, , (0.04) /09/2014 3, , /09/2014 2, , /05/2014 4, , (0.04) /09/2014 3, , /09/2014 2, , (0.10) /05/2014 3, , , /09/2015 2, , /09/2014 3, , /09/2014 3, , /09/2014 3, , (0.77) /05/2014 2, , /09/2014 3, , /09/2014 2, , /09/2014 2, , /09/2014 2, , /09/2014 2, , (0.43) /09/2014 2, , /09/2014 4, , /09/2014 2, , /09/2014 3, , /09/2014 2, , (0.58) /04/ :07 Rajeev Puri Strata Title Administration Ltd Page 7 Agenda Page 21 of 82

22 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Working Account Interest Special levies Standard levies GST due Due Paid Due Paid Arrears Advance Lot Unit Paid to Due Paid Arrears Advance Agenda Page 22 of , , , , , Due Excl. GST 123, /04/ :07 Rajeev Puri Strata Title Administration Ltd Page 8

23 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Standard levies Lot Unit Paid to Due Paid Arrears Advance Contingency Fund Special levies Due Paid Arrears Advance Interest Due Paid GST due 2 R1 19/09/2014 2, , /09/ /09/ /05/ /09/ /09/ (0.01) /09/ /09/ (0.02) /09/ (0.09) /09/ (0.06) /09/ /09/ (0.01) /09/ /09/ (0.04) /09/ /09/ /09/ /09/ (0.13) /09/ /09/ (0.17) /09/ /09/ (0.03) /09/ /09/ (0.02) /09/ /09/ /05/ (0.01) /04/ :07 Rajeev Puri Strata Title Administration Ltd Page 9 Agenda Page 23 of 82

24 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Standard levies Lot Unit Paid to Due Paid Arrears Advance Contingency Fund Special levies Due Paid Arrears Advance Interest Due Paid GST due /09/ (0.03) /05/ /09/ /09/ /09/ /09/ (0.19) /05/ /09/ /09/ /09/ /09/ /09/ (0.11) /09/ /09/2014 1, , /09/ /09/ /09/ (0.14) , , , , Due Excl. GST 29, /04/ :07 Rajeev Puri Strata Title Administration Ltd Page 10 Agenda Page 24 of 82

25 Agenda Page 25 of 82

26 Audited Financial Reports 2014 Agenda Page 26 of 82

27 Agenda Page 27 of 82

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36 Committee Report Agenda Page 36 of 82

37 SOHO Body Corporate Committee Report 2015 In compliance with regulation 28 of the Unit Titles Regulations It was resolved at the adjourned annual general meeting held on 29 April 2014 that the committee has delegated powers under section 108 of the Unit Titles Act 2010 as follows: By special resolution that pursuant to Section 108(1) of the Unit Titles Act 2010 the Body Corporate hereby delegates all of its powers and duties to the Body Corporate Committee, save those powers reserved to the Body Corporate under Section 108(2) of the Act, until the next general meeting of the Body Corporate and that this resolution is evidence of the Committee's authority to perform the powers and duties so delegated to it and serves as notice of delegation and that the Committee will report to the Body Corporate on an annual basis regarding its performance of these powers and duties.. The committee has held four evening meetings since the AGM to oversee the management of the body corporate including financial, building maintenance, earthquake issues and other matters as they arose between general meetings on behalf of owners. At each meeting the committee received financial reports from Strata (our Body Corporate Manager) and building management reports from Alive Building Solutions, (the building manager). These were assessed, discussed and instructions given where required. We also met with Martin Meyers, structural engineer to take advice on the design of stairwell one, the feasibility of an additional lift and to review the EQC settlement in relation to common property and building elements. After the building manager certifies the accounts, I as the chairman have asked for all accounts to be sent to me and I have questioned those which needed further explanation and authorised payments where I assessed that they were required to be paid. By doing this it has made the building managers very much aware that all accounts are recorded well and hopefully easier for auditors to verify. Contractors are aware that their invoices are checked and queried. 2014/5 has been a very busy year for your committee, over and above general management issues, the consequential work as a result of the two significant earthquakes has been significant. We have written to you in December 2014 and March 2015 to provide updates in terms of legal advice received and progress made. Alive Building Solutions our building Manager, continued to work closely with Strata Title our Body Corporate Managers to communicate with owners and liaise with the EQC. The proposed resolutions on the agenda relating to the EQC settlement funds are drafted to facilitate pay out of funds related to private property and deal with repairs to common property and building elements. Much of this was explained in the newsletters. The committee has endeavoured to continue keep expenditure within budget where possible. The Building Manager has reported ongoing failure of emergency light fittings which is mentioned in their report. This has been paid from the contingency fund as per the replacement of these fittings budgeted for in the LTMP (Long Term Maintenance Plan). Most recently the manual call points exposed to the weather have given problems and are also being replaced. These costs were necessary to maintain the building. It was agreed at the previous AGM that the 2014 Financial Report would be audited/reviewed by BDO. The audit took less time to complete this time. The committee is satisfied with the result and the audited accounts were accepted. A copy is appended to the agenda for your files. The meeting will be asked whether it wishes another audit for The existing two passenger lifts often operate at capacity. If one is out of operation it impacts on residents. The current contractor, Otis, have been informed that any time offline must be minimised. Nevertheless the committee has asked the building manager to investigate the viability of installing an additional lift at the Egmont street side of the property. Please refer to the building managers report and depictions of the proposed location for reference. If owners are supportive of the proposal, the method of financing the cost is relevant. This can be done either by raising a once off Agenda Page 37 of 82

38 levy on all owners, financing via the contingency fund over a few years, external financing or a combination thereof. Direction will be sought from owners at the meeting and via voting forms if you can t attend. The matter of the design of stairwell one was raised at last year s AGM. Minor repairs are required as a result of the earthquake, however, redesign is required to make it safer for future quakes. It is understood that the design was compliant when the building was built. The main issue involves providing support for the stairwell at ground level and providing separations at each level to allow for movement. Martin Meyers has provided advice as to a revised design and estimated cost (attached to the agenda). This work will need to take place and has been budgeted for. The proposed budget attached to the Agenda was considered by the committee, approved in principle and will be discussed at the meeting. In summary, the operating budget less than last year, however, the provision for the stairwell and additional lift adds to the estimated expenditure and proposed levies. The meeting will decide the final budget. As Chairperson of your body corporate I would like to thank all of the committee members, Paul Roux of Strata, Justin Leonard and Daniel Finlayson of Alive for their professional and extremely hard work in ensuring that the day to day running of this complex is undertaken in the best possible way for the body corporate. I hope to see you at the AGM on the 23 rd April I encourage you to appoint a proxy and / or complete the postal voting forms at the back of the agenda pack if you can t make the meeting, this will ensure that you have a voice and that we have a quorum. Peter Gibson, Soho Chairperson Agenda Page 38 of 82

39 Insurance Quotes Agenda Page 39 of 82

40 Risk Advisors and Insurance Brokers 7 April 2015 Insurance Quotation Report Body Corporate Soho Apartments Taranaki Street Te Aro WELLINGTON Agenda Page 40 of 82 WALLACE MCLEAN LIMITED PO Box 4421 Shortland Street Auckland 1140 New Zealand

41 Insurance Quotation for Body Corporate Situation of Risk Soho Apartments Taranaki Street Te Aro, Wellington Asset Description Fifteen Storey Apartment Building Residential Apartments & 5 Ground Floor Retail Renewal Date 7 June 2015 Quotations below are for a Principal Insurance policy as defined in Sections 134 to 137 inclusive of the Unit Titles Act Replacement Value Sum Insured is based on the valuation provided from Colliers International dated 27 March Premium Paid (13 Month Period) Annual Premium Quoted $258, $237, Replacement Value $64,648,000 Replacement Value $65,754,000 Increase of $1,106,000 Claims Costs Paid $5, GST $3, GST $10, GST $30, GST Agenda Page 41 of 82 QUOTE S PROVIDED FOR QBE Insurance (International) Limited ACE Limited ZURICH New Zealand - We have approached the above Insurers and hope to have their terms by 15 April VERO Insurance New Zealand Limited Current Insurer $246, AIG Insurance New Zealand Limited $556, NZI, a business division of IAG New Zealand Limited - NZI have declined to quote as they have no capacity in Taranaki Street. ALLIANZ New Zealand - Allianz have advised they are only able to quote if Engineering and Geo-Tech Reports are provided. If these can be provided they will need at least 7 full working days to produce a quote if it falls within their underwriting criteria. The premiums quoted include the following: - Government Levies calculated in accordance with their Guidelines $24, GST for Fire Service Levy and $48, GST for EQC Commission - Goods and Services Tax (GST) - Annual Premium (12 Month Period)

42 Vero Insurance New Zealand Limited Insurer Financial Strength Rating Standard & Poors, A+ Strong Material Damage Building(s) and other improvements on the Land including Demolition Costs and Architects Fees. Policy Wording VERO Businessplan & Vero Body Corporate Residential Endorsements June 2014 Sum Insured Buildings etc Replacement per valuation provided to a maximum of Common Area Contents $65,754,000 $100,000 Loss of Rents (Commercial Units) Loss of Rents for Commercial Units (limit is for all Commercial Units) NIL Indemnity Period 12 Months Claims Preparation Fees $5,000 Extensions Alterations & Property Acquired $100,000 Contractual Value Limited to $100,000 Cost of Rewriting Records $20,000 Damage caused by Landslip or Subsidence $250,000 Fusion/Self Ignition Limited to 5kw $5,000 Hazardous Substance Emergency $50,000 any one event, $100,000 any one period of insurance Keys and Locks $10,000 Property in the Course of Construction/Alteration/Installation $100,000 Protections Costs $100,000 Reservoirs, Tunnels or Bridges at the Insured own situation $100,000 Spoilage $2,000 Transit (within New Zealand) $10,000 Automatic Extensions (applying to Residential Units Only) Gradual Damage Alternative Accommodation for Owner Occupied Units Loss of Rents for Tenanted Residential Units Cost of Re-letting Contents Removal and Storage Landlord Contents for Tenanted Residential Units Common Property (Carpet, Drapes & Light Fittings) Margins Clause (does not apply to Natural Disaster Damage) Total Loss Stress Cover Machinery Breakdown Computer Breakdown Landslip Subsidence Landscaping Reinstatement of Records Meeting Room Hire Removal of Trees $5,000 any one event, $20,000 any one period of insurance $35,000 per Unit - Max 12 Months $35,000 per Unit - Max 12 Months $1,000 per Unit - $5,000 total any one event $1,000 anyone Unit - $10,000 total any one event $25,000 per Unit $100,000 total any one event 110% of the Sum Insured $2,000 per Unit - $50,000 in total for all Units any one event $10,000 any one event - $10,000 any one period of insurance $5,000 any one event - $10,000 any one period of insurance $250,000 any one event - $20,000 excess applies $250,000 any one event - $20,000 excess applies $10,000 any one event $20,000 any one event $5,000 any one period of insurance $5,000 any one event - $10,000 any one period of insurance Liability Property Owners Liability $2,000,000 Statutory Liability fines & legal defence costs arising out of breaches of: $500,000 - The Fair Trading Act 1986 The Consumer Guarantees Act The Resource Management Act 1991 The Health and Safety in Employment Act 1992 (Excluding Fines) - The Building Act 1991 The Privacy Act 1993 Any amendment to or re-enactment of these Acts Agenda Page 42 of 82

43 Excess Residential Units Owner Occupied Units, Landlord Contents and Gradual Damage $250 Tenanted Units $400 Common Areas & Liability Claims $500 Unoccupied Units $1,000 Landslip/Subsidence $20,000 Excess - Commercial Units Standard & Liability Claims $500 Burglary and Malicious Damage $1,000 Theft $2,500 Subsidence/Landslip $20,000 Excess - Earthquake Northland and Auckland 2.5% of the site sum insured for Post 1935 buildings risk, and subject to a minimum of $2,500 5% of the site sum insured for Pre 1935 buildings risk, and subject to a minimum of $5,000 New Zealand excluding 5% of the site sum insured for Post 1935 buildings risk, and subject to a minimum of $5,000 Northland and Auckland 2.5% of the site sum insured for Pre 1935 buildings risk, and subject to a minimum of $10,000 The excess will apply to the combined total of all Natural Disaster claims under the Material Damage and Business Interruption sections of the Policy. TOTAL PREMIUM as quoted by Vero Insurance New Zealand Limited $246, Agenda Page 43 of 82

44 AIG Insurance New Zealand Limited Insurer Financial Strength Rating Standard & Poors, A Strong Material Damage Building(s) and other improvements on the Land including Demolition Costs and Architects Fees. Policy Wording AIG Material Damage/ Business Interruption/Public Liability/Statutory Liability Policy Wording Sum Insured Buildings etc Replacement per valuation provided to a maximum of Common Area Contents $65,754,000 $100,000 Loss of Rents (Commercial Units) Loss of Rents for Commercial Units (limit is for all Commercial Units) NIL Indemnity Period 12 Months Claims Preparation Fees $5,000 Loss of Rents/Alternative Accommodation (Residential Units) Alternative Accommodation Costs Residential Owner Occupied Units $10,000 max per event Loss of Rents Tenanted Residential Units $35,000 per Unit, Max 12 Months Claims Preparation Costs $5,000 Extensions Capital Additions $100,000 limit Demolition and other Costs Included Disclaimer Clause Included Gradual Damage $1,500 limit Hazardous Substances $20,000 limit Money Section A $5,000 Money - Section B $1,000 Professional Fees Included Protection Costs $20,000 any one event Redundant Foundations Included Rewards Included Refrigerated Goods $5,000 any one event Smoke Damage Included Social Club Included Subsidence and Landslip $100,000 any one event Stolen Keys Included Theft $20,000 any one event Landlord Contents Tenanted Residential Units $5,000 per Unit Liability Property Owners Liability $2,000,000 Statutory Liability fines and legal defence costs arising out of breaches of: $1,000,000 The Fair Trading Act 1986 The Privacy Act 1993 The Resource Management Act 1991 The Health and Safety in Employment Act 1992 (Excluding Fines) The Building Act 1991 The Consumer Guarantees Act 1993 Any amendment to or re-enactment of these Acts Excess Standard $1,000 Burglary $1,000 Theft claims where there is no evidence of forced entry/exit $2,500 Subsidence/Landslip $20,000 Earthquake 5% of Material Damage Site Value TOTAL PREMIUM as quoted by AIG Insurance New Zealand Limited $556, Agenda Page 44 of 82

45 Risk Advisors and Insurance Brokers 7 April 2015 Insurance Quotation Report Office Bearers Liability Insurance Policy Body Corporate Soho Apartments Taranaki Street Te Aro Wellington WALLACE MCLEAN LIMITED PO Box 4421 Shortland Street Auckland 1140 New Zealand Agenda Page 45 of 82

46 NZI, a business division of IAG New Zealand Limited Insurer Financial Strength Rating Standard & Poors, AA- Very Strong Insured Body Corporate Insurer NZI, a business division of IAG New Zealand Limited Policy Wording NZI Professional Risk Office Bearers Liability OFB 0412 Period of Insurance 7 June 2015 to 7 June 2016 Retroactive Date 5 March 2012 Jurisdictional Limits New Zealand Territorial Limits New Zealand Sum Insured PREMIUM $2,000,000 any one claim and in the aggregate, costs inclusive $3, Including GST Excess $1,000 each and every claim INDICATIVE PREMIUM ONLY Subject to receipt and acceptance of an Office Bearers Renewal Declaration by NZI Insurance prior to renewal date What are your Insured for OFFICE BEARERS LIABILITY You are insured for your liability arising from a wrongful act that occurs after the retroactive date in connection with the body corporate, provided: 1. you first knew, or ought to have known of the claim in relation to that wrongful act during the period of insurance, and 2. You have advised us of that claim as soon as possible, but no later than 30 days after the period of insurance ends. DEFENCE COSTS You are insured for all legal costs and other expenses necessarily and reasonably incurred with our prior written consent to defend or settle: 1. a claim alleging liability covered by this policy, and 2. A criminal proceeding brought against you arising from a wrongful act covered by this policy, provided that you are acquitted. In the event that you are convicted of an offence in such a criminal proceeding, you are obliged to repay to us any monies we have paid in respect of legal costs or other expenses in relation to that proceeding. Legal costs and other expenses covered by this policy are included within the sum insured and are not in addition to it. Agenda Page 46 of 82

47 Who is Protected Definition of You Any person who was, or is at any time during the period of insurance a committee member and/or chairperson(s) of the body corporate, by whatever name called, and whether or not validly appointed, to occupy that position. You does not include any: (a) external body corporate manager or administrator, liquidator, external auditor, receiver, receiver and manager, statutory manager, administrator or trustee administering a compromise or scheme of arrangement of the body corporate, or (b) Trustee, director, officer or employee of a superannuation or pension organisation. We may also use the word insured to describe you. Automatic Extensions - - Advancement of Defence Costs - Automatic Reinstatement of the Aggregate Limit - Continuous Cover - Estates and Legal Representatives - Extended Reporting Period - Official Investigations - Spousal Liability Exclusions - Asbestos - Bodily Injury - Building Defects - Dishonesty or Fraud - Employment Claims - Existing Litigation - Failure to Maintain Insurance - Fees/Debts - Fines, Taxes and Exemplary Damages - Foreign Courts - Judicial/Injunction Review - Known Claim and Circumstances - Liability by Agreement - Nuclear - Policy Proceedings - Pollution - Terrorism - War Wallace McLean Agreed Endorsements SEVERABILITY AND NON-IMPUTATION ENDORSEMENT Where this Policy insures more than one person or entity, each person or entity is insured separately. No conduct on the part of one person or entity will be imputed to the others where that person or entity has: 1. made a misrepresentation to us before this contract of insurance was entered into, or 2. failed to comply with any terms or conditions of the policy, provided that the remaining persons or entities must: (i) be entirely innocent of and have no prior knowledge of this conduct, and (ii) as soon as practicable upon becoming aware of this conduct, advise us in writing of all known facts in relation to the conduct. FAILURE TO MAINTAIN INSURANCE ENDORSEMENT It is hereby note and agreed that Exclusion G. Failure to Maintain Insurance is deleted in its entirety. This endorsement is otherwise subject to the terms of the policy Agenda Page 47 of 82

48 Building Managers Report Agenda Page 48 of 82

49 Building Management Report AGM 2015 Generally we have been pleased with the Soho Building. It has been a busy period in the last 12 months, especially in the last 4 months with a number of new residents coming into the building along with the investigation into an additional lift, stairwell upgrades and the EQC claim. Our primary focus is ensuring the building is well maintained and clean offering good security thus increasing the reputation of the building. Light bulbs have been changed as required Meter reads have been supplied when requested Swipe cards have been issued and programmed when requested. Graffiti has been removed as required BWOF/COMPLIANCE The required IQP checks have been carried out and the building has a current Warrant of Fitness. The next Building Warrant of Fitness is due for renewal in May and everything is on track for this to be completed on time. Abseil Access anchors have been checked and certified as per the yearly certification for required. BUILDING WASH The two 6 monthly Building Washes have been carried out as per the exterior cladding warranty requirements. Four additional washes of other areas of the building exterior that don t receive rain wash have been carried out to prevent excessive grime build up. SERVICE CONTRACTS Fire System Contract We will be re-tendering the fire system service contract. Tenders will be presented to the body corporate committee for consideration. Cleaning Corporate Cleaners will be continuing as the cleaners. They have performed well over the last 12 months. Rubbish A two year contract was signed with Daily Waste in 2014 due to expire in February 2016, we will retender the contract out to test the market. The bins are also being regularly cleaned by Enviro bin to keep the odours to a minimum. We will be looking at all contractors, reviewing their performance and costs with the help of several body corporate committee members. EQC SETTLEMENT EQC have provided the initial settlement with the Body Corporate and settlement documents including EQC assessment. As you are aware these have been distributed. A small number of owners have expressed they would like to dispute some of EQC s findings. EQC require a Licenced Building Practitioner to complete an inspection and generate a report. This report is then supplied to EQC for their consideration. Common Area Damage; Some areas of damage within the common claim were declined and deemed pre-existing. The body corporate committee has authorised further investigation as to the cause of this damage with the intention to dispute these findings. Agenda Page 49 of 82 Page 1 of 4

50 INTERNET SERVICES NZ WIRELESS We have continued to promote the NZ Wireless service with posters, mention of them on the LED screen in the foyer, and a flyer on the Soho noticeboard. Total income to the Body Corporate for the year is $7, GST ULTRA FAST BROADBAND Following requests by existing residents through their Internet Service Providers for Ultra-Fast Broadband we are working with Downer and Chorus to develop a design for installation that will be considered by your Body Corporate Committee. ANTI-SOCIAL BEHAVIOUR AND ENHANCED SECURITY We have continued our zero tolerance stance on anti-social behaviour in the building. We continue to work with Recon Security to improve security and make effective changes. January through March like previous years we experienced a large turnover of residents, we have seen an improvement in resident behaviour which has resulted in a far smaller amount of breach notices being issued to residents. In the past year no apartments have gone through the eviction process. We are looking at adding camera s in several areas: pool room and on level 1 facing the building in order to discourage anti-social behaviour in these areas. BUILDING SIGNAGE We have contacted the main suppliers in the billboard market: ISite Media Not Interested. APN Not Interested. Media5 Not Interested. Roadside Attractions Maybe still to come back with a proposal. The general consensus is the site is not in an ideal position to justify the investment in a billboard, and the rent ability thus return on the investment of the space would be difficult. The main issues are: 1. While the area is big, it is too high up and also has a building partly obscuring the lower part of the building. 2. Too high up making it too far away (A billboard needs to fall to the eye comfortably and be relatively dominant). 3. The best view of the area is the south bound lane on Taranaki Street. Vehicle traffic is heading away from the sign not facing it. There is also not a lot of foot traffic travelling north bound on the eastern side of Taranaki Street. 4. When seated in your car north bound at the Taranaki Ghuznee intersection the view is very limited due to the building in front (as can be seen in the second photo) and roof of your car blocking the view. View from foot path eastern side of Taranaki Street View from north bound lane (cnr Taranaki & Ghuznee) 5. The size and shape of the area is not conducive to a standard media format. Agenda Page 50 of 82 Page 2 of 4

51 6. Anything over 18.6 metres requires a WCC Resource Consent (unless the content of the sign is to do with advertising something to do with the building (e.g a retail shop within the building). TARANAKI STREET STAIRWELL Meyers & Associates have completed the stairwell redesign and have had a Quantity Surveyor look at the potential cost of the physical works. Along with separation of the landings, a portal will be required on the ground floor as shown in the photos below (size to be determined). We believe this can be boxed out to look like the existing columns in the corridor, so it will look like it has been there from day one. More information is outlined in the AGM pack SPECIAL PROJECTS Replacing all manual call points on external walkways with IP rated versions there have been several incidents where a manual call point has caused a Fire Service callout due to moisture getting into the unit. Although the existing units are under cover the extreme Wellington weather is a problem. The Body Corporate Committee has accepted a quote from Aqua Heat to replace all external 70 call points on the walkways. Replacing the sauna heating unit and repositioning the unit under the seating - the sauna elements are very susceptible to damage from excessive water being poured on the stones, as a result there has been an increase in the cost to the body corporate for replacing the elements. Adding three CCTV cameras in the building and upgrading of the current CCTV system ELECTRICAL During the year failing light fittings were identified by the electricians servicing the building. Emergency lighting replacement was a large component ($21, GST) of the year s spending, and these fittings have to be replaced due to them forming part of the Buildings Compliance. A number of fittings have been replaced during 2014 and a significant number will be replaced during 2015 and These are only replaced as they fail and are replaced with a more durable fitting. As with the fire system manual call points on the exposed external walkways the weather also plays havoc with the light fittings. $111,282+GST is allocated in the LTMP for 2015 for emergency lighting and will talk more about that under Long Term Maintenance below. LONG TERM MAINTENANCE PLAN We will be reviewing the long term maintenance plan in 2015 as part of the Unit Title Act requirements. Long Term Maintenance plans are required to be reviewed every three years. The items identified in the long term maintenance plan for 2015 are: Heating & Ventilation Heating Water System $ 3,467 Emergency Lighting $111,282 Electrical Services UPS $ 383 Electrical Services Access Control/Intercom $ 24,690 Electrical Services CCTV system $ 23,954 Agenda Page 51 of 82 Page 3 of 4

52 Work to the sprinkler control valve for $1,332+GST noted in last year building management report was deferred to With the emergency light failures in 2013/2014 it was recommended that the money allocated for emergency light fittings in 2015 be brought back into 2014 so we don t have to substantially increase your operating budget. THIRD LIFT PROPOSAL Due to the number of residents in the Soho complex and one lift being out of order from time to time for moving, maintenance and the occasional breakdown we were asked to look into the option for adding a third lift. We have sought cost estimates for the construction and installation of a third lift in the building, ball park figures are outlined below : Engineering Fees $16,500 +GST Architectural Fees $10,000 +GST Project Management Costs $15,000+GST Resource and Building Consent Fees $9,000 +GST Steel Structure & foundation $150,000 to $200,000 +GST Building Works (Cladding, scaffolding etc) $100,000 to $135,000 +GST Drainage costs $25,000 to $30,000 +GST Cost of actual lift from Otis $160,000 +GST Estimated Total $485,550 to $575,500+GST The position of a proposed third lift is in the loading bay at the western end of the lift lobby. More on this proposal is outlined in the AGM pack. NEW RESIDENT INFORMATION Section 27(a)(b) of the Body Corporate Operational Rules and Section 81(2)b of the Unit Titles Act 2010 requires and owner of a principal unit to supply the Body Corporate with contact details of their Property Manager and tenants. We have been finding that these details are not being supplied on a regular basis. New tenants are not being supplied with the Residents Rules and Regulations forms to complete and in a number of cases. It is important we have this information for urgent work or emergencies. Please ensure if your apartment is tenanted that the contact information of tenants is forwarded to daniel@abswellington.co.nz along with the signed Residents Rules (attached with this report). If you use a Property Manager please provide their contact information and ensure they are aware of the procedures with regards to supply of tenants contact details. It has been a pleasure to work with such a proactive Committee. We have seen each of the Committee members first hand put in considerable time and effort on the various challenges they have faced. We believe the approach taken and the decisions made by the Committee have all been in your best interests. Thank you to Paul Roux and his team from Strata Title for the regular financial updates and support over the past year. We look forward to continuing as your building managers throughout 2015 and Regards, Justin Leonard & Daniel Finlayson 7 th April 2015 Agenda Page 52 of 82 Page 4 of 4

53 Building Manager Onsite Building Managers Office 74 Taranaki Street Wellington Date:.. Application for Body Corporate Approval - Tenanted Apartment I confirm that I have been provided with a full copy of the Soho Apartments Resident Rules and Regulations and the Body Corporate rules (Body Corporate ). I understand the obligations placed upon me as a resident by those rules. I confirm that I will abide by the rules and understand that a breach of the rules may result in the Body Corporate Committee (via the Landlord) seeking a termination of my tenancy. (Please print clearly and legibly) Property Managers Name:... Tenant Names:... Apartment Number:... Cell Phone Number: Apt Phone Number: Work Phone Number: address: Signed: Agenda Page 53 of 82

54 RESIDENT RULES AND REGULATIONS FOR LIVING AT SOHO APARTMENTS Detailed below is a guide to some of the more important items to consider as a resident of Soho Apartments and some of the more frequently asked questions; General Bikes are not permitted in the lifts, stairwells or ground floor lobby areas at any time, and are to be stored in the designated storage area in the garage. If the bike hooks are full bikes CANNOT be brought into the building. The body corporate rules do not permit pets either residing or visiting the building Moving in and out THE BUILDING MANAGER MUST BE CONTACTED AT LEAST 48 HOURS PRIOR TO YOUR MOVE TO ARRANGE A SPECIFIC MOVING SLOT AT: daniel@abswellington.co.nz (slots are 9am 11am, 11am 1pm, 1pm 3pm, 3pm 5pm) depending on demand availability times maybe subject to change. You will be given a time frame of two three hours for moving. This gives you access to parking in the loading zone on Egmont Street and use of the goods lift. Once a booking is made the building manager will let you know how you are able to collect keys for the back moving doors from the loading zone and lift lock off key (these keep the lift doors open while you load and unload). There is to be no parking of vehicles in the rear of the building unless a booking has been made and to be no parking anywhere outside of the loading zone. Illegally parked vehicles will be towed as per the signs displayed. Do not store any items in the ground floor foyer in front of the lifts and no items are to be leaned against the foyer walls AT ANY TIME If you are not booked the Building Manager has every right to remove you from the Soho premises. You will be responsible for any damage caused to the walls or flooring from moving in or out whether by movers or yourself. Please ensure the instructions supplied with the keys in your mail-box for moving are thoroughly read and followed. Failure to do so may mean your move is terminated on the spot. Noise Please have respect for your neighbours and recognise their right to quiet enjoyment of their apartment. Please ensure the following rules are followed (A breach of these rules will result in a formal written warning, a subsequent breach of these rules may result in eviction); No loud music at any time, however turn off music by 9.30pm Sunday-Thursday and 10.30pm Friday and Saturday. No excessive noise from balcony any time of the day, however move guests off balcony by 9.30pm Sunday-Thursday and 10.30pm Friday and Saturday. Keep your guests in your apartment not wandering the common areas. Ask your guests to be quiet when leaving the apartment. We have full time security guards patrolling the building, keeping the building secure and also ensuring no parties or excessive noise are heard. Remember you are responsible for your guests. 14 day notices and fines will be issued for noise breaches Lockouts It is NOT the job of the building manager to let you into your apartment if you have lost your key or left your key inside your apartment. If the manager is available and you ask nicely he may be able to let you in, there will be a cash lockout fee for all lockouts. If he is unable to help you he may be able to put you in touch with a locksmith. Building Manager The building manager is employed to manage the common areas of the building only; he is NOT responsible for renting out apartments, managing the apartments or anything inside the apartment. Please call your property manager for anything relating to anything inside your apartment. Please only contact the building manager if there are issues with the following; lifts, walkways, gym/pool/sauna, cleaning, rubbish room, main entrance/lobby, fire system. Please respect that the building manager has a life away from looking after the complex. The Building Managers contact details are or daniel@abswellington.co.nz. Please only contact the building manager between the hours of Monday to Friday 8.30am to 4:30pm. Fire System There are smoke detectors in each Apartment. These are wired in and monitored. If you remove them they will alert the monitoring company that there is a defect and they will have to attend. You will be charged for the call out. There are manual call points and smoke and heat detectors in the common areas. DO NOT under any circumstances activate the manual call point unless there is fire present or smoke a cigarette on the walkway. The Body Corporate gets charged for false fire call outs. These will be on charged to those responsible. Remember you are responsible for your guests. Agenda Page 54 of 82

55 Parcels and Mail The mailboxes are located in the lobby. Couriers and posties have access to the building. All parcels will be dropped in the parcel box amongst the mailboxes; NO parcels go to the building manager s office. If you wish to have parcels delivered securely, please ensure you have to sign for your parcel. Please put all return to sender mail into the Body Corporate/Return to Sender Mailbox in the mailbox area Electricity, Phone and Water Accounts You will need to set up electricity and water accounts before moving in to ensure these facilities are available to you, to set up an account please call the following suppliers; Bosco (Electricity): NB: The building manager does not do meter reads, if you want to check your meters contact your electricity supplier (a charge may apply) EasyEnergy (Water): or collect a signup sheet from your property manager/landlord NZWireless (Phone and Internet): or NB: For your broadband modem you will need to purchase a RJ45 to BT Adaptor from an electrical shop. Freeview & Sky Reception The building has built in Freeview and Sky Television within all apartments, if you have a new TV (with built in Freeview tuner) or a Freeview box, you will need to purchase an F to Belling Lee Fly Lead from any electronics shop, plug this into the white socket and run an auto tune. If not, you will not be able to get reception. For Sky just plug in the correct cables to the marked socket and Sky will instantly come up as long as you have a Sky decoder and an account with them. For any issues please contact your Property Manager or City Aerials on New Keys and Swipe Cards If you have lost your keys/swipe cards please talk to your property manager/landlord and they will order you a new set. The building manager does not arrange these. If you have lost your swipe card please inform the landlord of the swipe card number that has been lost, or at least the remaining swipe cards you have so these can be deleted. You will not get a new one until the lost swipe card has been deleted. Balcony Use Laundry is not to be hung or dried on the balconies at any time. No BBQ s on balconies. Balconies are not to be used for the storage of goods. Due to the shape of the building, noise bounces around. Please be considerate of your neighbours when using your balconies. Move guests off balcony by 9.30pm Sunday-Thursday and 10.30pm Friday and Saturday. Do not throw rubbish or cigarette butts from the balconies. Not only is it untidy for those who live below, but it is a fire risk. Anyone caught throwing items from their balcony will be sent a fine to pay for cleaning of rubbish or cigarette butts thrown. Security Rubbish It is important to be aware of potential intruders who use the tail gating technique (following residents on foot or in vehicles into the building). Please report suspicious cars or persons to the Police. Do not hesitate to ask strangers, why they are on the premises, if they claim to be a contractor ask for identification. The building is your home. To ensure the building remains secure it is imperative that residents support and assist with identifying potential security risks. The rubbish room is located on the ground floor off the rear lobby entrance off Egmont street with access from a side door from the main lobby. The rubbish and recycling bins will be emptied regularly by a contractor. A Body Corporate objective is for the complex to be a green building and ask that all residents recycle their plastics, glass and cardboard. The recycling bins are to be located inside the rubbish room. Glass, plastic and tin and aluminium cans in one bin, with cardboard in the other bin. Parking No parking is permitted in the garage unless the car park space belongs to you, all car parks are advertised on the lobby noticeboard (The building manager doesn t rent out car parks or apartments). The loading bay exists for trade vehicles and short-term loading and unloading only, any use of the loading zone needs to be booked through the Building Manager. It may not be used for guest parking or overnight parking. Unauthorised parking of vehicles will result in the vehicle being towed. Agenda Page 55 of 82

56 Gym/Pool/Sauna This facility is for the shared use of residents within the Soho Apartment complex. Your swipe card will provide access to this facility Soho pool and sauna operate on a User Responsibility basis There is an adjacent shower and toilet facility for gym users The opening hours are 5:30 am through to pm Shower before entering the pool Children (under 14 years) must be supervised by an adult at all times Children who are not toilet trained may not enter the pool No food, alcohol or glass containers are to be brought into the pool, sauna or gym Do not run Do not jump into the pool Please ensure the doors are locked and the lights are off when you leave the facility Shoes are to be worn at all times in the gym area Please only contact the building manager between the hours of Monday to Friday 8.30am to 4:30pm. Agenda Page 56 of 82

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60 Existing view of rear entrance off Egmont Street. View of new proposed lift (note red is only used to highlight the lift shaft). It would be proposed that the lift would be clad and painted to match the building. There would be an entrance directly from the loading zone into the lift on the ground floor, therefore becoming the only lift for moving. There is also an entrance from the lift lobby side on the ground floor along with stops onto the breezeways of L1-L15. Agenda Page 60 of 82

61 Stairwell 1 Redesign Agenda Page 61 of 82

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66 Embedded Network Report Agenda Page 66 of 82

67 Provided in Commercial Confidence 7 th of April-2015 Paul Roux Strata Title Administration Ltd The Body Corporate secretary for the Soho Apartments, Wellington By Auckland Dear Paul, RE: Soho Apartments, Wellington - Embedded Network Profit for the year ending 31st of March-2015 e. info@tenco-ebs.co.nz t f p. PO Box Harewood Christchurch 8545 Christchurch Office Unit 3, 27a Sir William Pickering Drive Burnside Wellington Office Level 3, Solnet House 70 The Terrace Auckland Office Suite 505, Ironbank Building, 150 Karangahape Road As requested below is a summary of the profit for the year ending the 31st of March-2015 for the Soho Apartments in Wellington. For the period April-2014 to March-2015 the forecast returns vs. the actual return is as follows: Description Forecast Actual Variance ($) Variance (%) Electricity Income $ 149, $ 144, $ 5, % Electricity Cost $ 106, $ 101, $ 5, % Profit $ 42, $ 42, $ % * The actual costs are based off the monthly summary that we provide at the start of each month and may vary slightly to the actual Invoices that are received. Forecast profit for the period April-2015 to March-2016 $38, (Excl GST), this is based on the previous 12 months actual consumption and rates as they apply for the coming year. The decrease is due to changes made by Wellington Electricity in respect to their pricing plans which is decreasing the margin from the Embedded Network. Please let me know if you require any further information or have any queries on the above summary. Yours Sincerely Nick Price General Manager TENCO EBS Limited Agenda Page 67 of 82 Page 1 of 1

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71 Proposed Budget Agenda Page 71 of 82

72 Proposed Budget to apply from 01/04/2015 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Revenue Embedded Networks Security Ltd - Revenue 25, , , Insurance Claims , Interest on Arrears--Admin , Interest received from IRD Levies Due--Admin 821, , , Net Interest on Investments--Admin , Recovery--Owner , Rental Income--Internet/Wifi 6, , , Soho Management Ltd - BM Unit Transfer , Transfer from Contingency Fund , Total revenue Less expenses Working Account Proposed budget 852, Actual 01/04/ /03/ , Previous budget 861, Admin--Auditors--Audit Services , Admin--Committee Expenses 1, , Admin--Income Tax Paid to IRD 12, , , Admin--Management Fees--Standard 73, , , Admin--Prep of IRD Returns (GST & Income Tax) 1, , , Bldg Mgr--Building Manager Contract 64, , , Bldg Mgr--Rent & opex 70, , , Chairperson Honorarium 5, , , Committee Honorarium 2, Insurance--2nd Premium 2, , , Insurance--Premiums 214, , , Insurance--Valuation 1, , Maint Bldg--Airconditioning--Maint Contract 2, , , Maint Bldg--Building Wash 46, , , Maint Bldg--Building WOF , Maint Bldg--Cleaning-Contract 54, , , Maint Bldg--Electrical 22, , , Maint Bldg--Entrance/Exit Security 1, , Maint Bldg--Fire Protection 19, , , Maint Bldg--Fire Protection--Testing/Monitoring 1, , , Maint Bldg--Fire--False Callouts 3, , , Maint Bldg--General Maintenance & 85, , , Disbursements Maint Bldg--Gym Equipment 8, , , Maint Bldg--Lift--Maintenance Contract 14, , , Maint Bldg--Lift--Telephone 1, , , /04/ :26 Paul Roux Strata Title Administration Ltd Page 1 Agenda Page 72 of 82

73 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington Maint Bldg--Security 52, , , Maint Bldg--Security Surveillance Equipment 3, Maint Grounds--Lawns & Landscaping Maint Grounds--Pool Cleaning & Maintenance 4, , , Utility--Electricity 52, , , Utility--Rubbish Removal 30, , , Utility--Water Expense 1, , Total expenses Working Account Proposed budget 852, Actual 01/04/ /03/ , Previous budget 861, Surplus/Deficit , Opening balance Closing balance 194, , $194, $194, , $85, Total units of entitlement Levy contribution per unit entitlement $9.44 $9.57 Budgeted standard levy revenue 821, , Add GST 123, , Amount to raise in levies including GST $944, $956, /04/ :26 Paul Roux Strata Title Administration Ltd Page 2 Agenda Page 73 of 82

74 Body Corporate Soho Apartments, Taranaki Street, Te Aro, Wellington 6011 Revenue Contingency - Compensation - EQC Claim , Interest on Arrears--Sinking Levies Due--Contingency Fund 926, , , Net Interest on Investments--Sinking , Total revenue Less expenses , , , Contingency--Bank/Admin Charges Contingency--Other Expenses 212, , , Contingency--Transfer to Working Account , Maint Bldg--Lift--Refurbishment/Upgrading 575, Maint Bldg--Structural Improvements 139, Total expenses Contingency Fund Proposed budget 926, Actual 01/04/ /03/ , Previous budget 206, Surplus/Deficit , Opening balance Closing balance 789, , $789, $789, , $292, Total units of entitlement Levy contribution per unit entitlement $10.66 $2.37 Budgeted standard levy revenue 926, , Add GST 139, , Amount to raise in levies including GST $1,065, $236, /04/ :26 Paul Roux Strata Title Administration Ltd Page 3 Agenda Page 74 of 82

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78 PROXY APPOINTMENT FORM Form 11 Section 102(3), Unit Titles Act 2010 To Paul Roux - pr@stratatitle.co.nz Strata Title Administration Ltd BODY CORPORATE: PROPERTY AT: TARANAKI STREET, TE ARO, WELLINGTON 6011 Proxy appointment: I/We (Please Print), being the owner(s) of Unit(s) and therefore an eligible voter within the meaning of section 96(1) of the Unit Titles Act 2010, appoint: (Please Print) as my/our proxy for the purposes of the general meeting of the body corporate to be held on 6:30 PM on Thursday, 23 April If the general meeting is adjourned and reconvened, this proxy appointment is valid for the purposes of the reconvened meeting. Signature/s of eligible voter/s If the unit is owned by more than 1 person, every owner must sign the form. Date Notes 1) This proxy appointment expires at the end of the general meeting referred to in the form or, if that meeting is adjourned, the end of the reconvened meeting. 2) The full texts of motions are contained in the notice of general meeting, a copy of which should be provided to the proxy. 3) Your proxy may not vote unless all body corporate levies, and other amounts that are owing in respect of your unit, have been paid. 4) If the unit owner is a body corporate or an unincorporated body, the representative (recorded in the register of unit owners) of the unit owner must sign the form. 5) If the unit is owned by more than 1 person, every owner must sign the form. 6) If the unit is owned by more than 1 person, one of the unit owners may be appointed as proxy. 7) The person(s) signing this proxy form signs as duly authorised agent of the owner. Agenda Page 78 of 82