Morell Cabin Corporation Shareholders Meeting Minutes July 4, 2008 The annual meeting of the Shareholders of the Corporation

was held at the time and place, and on the date set forth below: Place of the meeting: Morell Cabin, Regina New Mexico Date of Meeting: July 4, 2008 Time of Meeting: 10:15 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, Jerry Morell, Janie Morell-Hart, Julian Morell, Martin Morell, and Lucy Morell-Gengler Absent: Michael 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. Jill moved and Janie seconded that Julie Morell, Jeff Morell, Chelsey Morell, Daniel Morell-Hart and Sophie Morell be added to the board of directors; the motion passed unanimously. Janie moved and Julian seconded to forgo the reading of the minutes. The minutes of the July 5, 2007 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 4, 2008 Attendants: Jill Morell, Billy Morell, Mary Morell, Janie Morell-Hart, Julian Morell, Martin Morell, and Lucy Morell-Gengler, Julie Morell, Jeff Morell, Chelsey Morell, Daniel Morell-Hart and Sophie Morell. Absent: Michael Morell A meeting of the board of directors of the corporation was held at the Morell Cabin Regina, New Mexico, on July 4, 2007 at 10:20 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 5, 2007. Jill 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 about $42,500. Martin indicated not all of the expenses related to the cabin opening were reflected in the budget. Martin anticipated that the oil income would be slowing down and the account could loose about $2,000 a year. It was suggested that when funds from Vesmor were distributed, recipients should consider sending $400 to the Cabin Corp. to avoid income problems in the future. ($1,000 was distributed to cover taxes and cabin expenses) 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. The cabin should be signed over to the Cabin Corp. Insurance and taxes need to be paid. The trailer has been replaced by the mini cabin constructed during cabin opening! Mary gave a special thanks to all of those who work to build the mini cabin and to those that

helped with the siding- job well done! Food and travel will be reimbursed for cabin opening. Janie moved and Jill seconded to expend money to purchase large tarps to cover the tents instead of putting a roof over the tent pads to protect them from the rain and keep them cooler. The motion passed unanimously. Jill upgraded bed in the old part of the cabin and purchased a futon to replace the love seat. Thanks! Billy will e-mail old policy list so Lucy can put together new 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 Janie moved and Jill seconded a motion to have Mary contact the Water Users Ass. to request a water tap for the new lot and to pay any associated fees. The motion passed unanimously. It was agreed that the front of the shed and bunkhouse would have log siding matching the mini cabin. Various power options for the mini cabin were discussed including propane and electricity. It was determined that electricity would be the best option and a new power box would be needed. Janie moved and Jill seconded a motion to expend funds of about $2,350 to replace and upgrade the power box and electric pole. Julian will work with the electrician to get that installed. He will send the bill to Martin for payment. Finishing the interior of the mini cabin will be the project for next cabin opening. Mary will look for a sale on double beds to replace the bed in moms room. Janie moved and Jill seconded a motion to have funds up to $500 available for the new bed. The motion passed unanimously. The roof is still OK. (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: