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Morell Cabin Corporation Shareholders Meeting Minutes July 5, 2007 The annual July 4 meeting of the Shareholders of the

Corporation was postponed and held at the time, place, and on the date set forth below: Place of the meeting: Morell Cabin, Regina New Mexico Date of Meeting: July 5, 2007 Time of Meeting: 9:00 AM The meetings business was to act on such proposals, to elect such Directors, and to transact such other business within the power of the Shareholders as set out herein. The meeting was called to order by Mary Morell president of the Corporation. As authorized by the Bylaws, the President presided as Chairperson of the meeting. Lucy Morell Gengler acted as secretary of the meeting and recorded the minutes. The meeting being held in accordance with the terms of the Bylaws of the Corporation, the Chairperson declared the meeting was validly convened. The following Shareholders were present: Attendance: Jill Morell, Billy Morell, Mary Morell, Janie Morell-Hart, Julian Morell, Martin Morell, and Lucy Morell-Gengler Absent: Michael Morell and Jerry Morell The Chairperson stated that a majority of the total number of shares issued and outstanding was represented, that a quorum was present and all prerequisites for the meeting were completed and that the meeting was ready to transact any business before it. Board President, Mary Morell, called the meeting the order. Julian moved and Janie seconded that last year's directors be re-elected for this year and that Billy be appointed as Chairperson of the Board. The motion was approved unanimously. Janie moved and Julian seconded to forgo the reading of the minutes. The minutes of the July 3, 2006 meeting were approved as written. Julian moved and Janie seconded to adjourn the meeting. The motion carried unanimously. There being no further business before the meeting, a motion duly made, seconded and unanimously carried, the meeting was adjourned.

_________________ Lucy Morell- Gengler Date ____________

RATIFICATION We, the undersigned Shareholders, or duly authorized proxies or assignees thereof, have read these minutes, hereby approved, ratify, confirm, and consent to all business as reported herein. 1.___________________ 2.___________________ 3.___________________ 4.___________________ 5.___________________ 6.___________________ 7.___________________ 8.___________________ 9.___________________

The following documents have been appended to these minutes. A. Call of meeting B. Notice of meeting C. Record of e-mailing/phone notice of meeting

Morell Cabin Corporation Board of Directors meeting minutes July 5, 2007 Attendants: Jill Morell, Billy Morell, Mary Morell, Janie Morell-Hart, Julian Morell, Martin Morell, and Lucy Morell-Gengler. Absent: Michael Morell, Jeff Morell and Jerry Morell; Jerrys proxy was given to Julian. A meeting of the board of directors of the corporation was held at the Morell Cabin Regina, New Mexico, on July 5, 2007 at 9:05 AM. The meeting was a regular meeting, for which call and notice are dispensed with in accordance with the Bylaws. There being a quorum of the Directors of the Corporation, the meeting was called to order by Board Chairperson Billy Morell. Lucy Morell-Gengler acted as secretary to the meeting. Lucy read the minutes of the previous meeting held on July 3, 2006. Julian moved and Janie seconded to approve the minutes as read. Election of officers Martin moved and Janie seconded nomination for officers as follows: President- Mary Morell, Vice - President- Julian Morell, Chairperson of the Board - Billy Morell, Secretary Lucy Morell-Gengler, Vice-secretary Janie Morell-Hart, Treasurer - Martin Morell. Motion passed unanimously. Treasurers report Martin read the treasures report. The report reflected a balance of slightly over $42,000.00. Martin indicated not all of the expenses related to the cabin opening were reflected in the budget. It was noted the insurance for the cabin has increased to about $900 annually due in large part to the addition of the porch. Julian moved and Janie seconded a motion to accept the treasures report. Motion passed unanimously. Julian moved and Janie seconded to accept the treasures report as next year's budget. Motion passed unanimously. Old business Martin moved and Jane seconded to ratify and affirm all actions of officers and directors for the previous year. Approved unanimously. Insurance under Marys name and cabin leased to her for a $1 a year and other services rendered. Discussed removing the existing trailer and constructing a winterized area to replace the trailer. Martin presented a number of possible floor plans. Features include: two bathrooms, exterior blends in with the main cabin, and affordable. Those present during cabin closing will disconnect the trailer; Mary will try and get rid of the trailer. Corp. will consider renting a trailer during the reunion next year. Still need to put a roof over tent pads to protect from rain and keep cooler.

Linens have been upgraded; Mary will work on organizing them better. Jill offered to upgrade bed in the old part of the cabin and suggested replacing the love seat with a futon. Lucy will put together guest policy and check list to give to visitors when they come out. Guests need to leave a message for Mary at her house and call the cabin to let her know when they will be at the cabin. Big thanks to Mary for keeping the cabin so clean and keeping an eye on it when everyone is gone! New business How should cabin opening be reimbursed? Martin moved and Janie seconded that expenses including travel - gas costs or airfare be reimbursed by the corporation for family members that work on the cabin during cabin opening. The motion passed unanimously. Martin had some tax questions; it was agreed to have the CPA review the forms before they are submitted and to check status of franchise tax. The next meeting was scheduled for a day on or about July 4, 2008. There being no further business before the meeting, the motion duly made, second and carried, the meeting was adjourned.

_______________________ Chairperson, Billy Morell Dated:

_________________________ Secretary Lucy Morell-Gengler Dated: