July 2011 Cabin Corp.

meeting

Morell Cabin Corporation Shareholders Meeting Minutes July 3, 2011 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 3, 2011 Time of Meeting: 10:00 PM 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 , Martin Morell, and Lucy Morell-Gengler Absent: Michael Morell and Julian 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. Jill 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 Georgie Morell be added to the Board of Directors; the motion passed unanimously. Janie moved and Jill seconded to forgo the reading of the minutes. The minutes of the July 4, 2010 meeting were approved as written. Jill 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 ____________

July 2011 Cabin Corp. meeting

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

July 2011 Cabin Corp. meeting

Morell Cabin Corporation Board of Directors meeting minutes July 3, 2011 Attendants: Jill Morell, Billy Morell, Mary Morell, Jerry Morell, Janie Morell-Hart, Martin Morell, Lucy Morell-Gengler, Jeff Morell, Shanti Morell-Hart, Daniel Morell-Hart, Chelsey Morell, Tom Morell and Georgie Morell. Absent: Michael Morell (Senior), Julian Morell, Julie Morell, Jon Gengler and Sophie Morell A meeting of the Board of Directors of the corporation was held at the Morell Cabin, Regina, New Mexico, on July 3, 2011 at 10:15 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. Jill moved and Janie seconded to forgo the reading of the minutes. The minutes of the July 4, 2010 meeting were approved as written. 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, and Treasurer - Martin Morell. Motion passed unanimously. Treasurers report Martin read the treasures report (attached). The report reflected a balance of about $58,029 at the end of 2010 and an estimated budget for 2011 resulting in an estimated balance of about $57,000. It was the consensus of the group to put some of the money into a mutual fund, the amount and type of fund to be determined by the treasurer. It was noted that the expenses still exceed the income from the interest on the balance by about $1,000 a year. Jill moved and Janie seconded a motion to accept the treasures report. Motion passed unanimously. Jill 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. The motion was approved unanimously. Jerry will get together with Mary to transfer title over to the Cabin Corporation. It was determined beds in the loft would not fit very well; continue to look at other options.

July 2011 Cabin Corp. meeting

New business Jill moved and Janie seconded to reimburse Mary for taxes on the new lot. Martin discussed the Cabin Project List (attached). The mini cabin is almost finished; replace deck and sub-decking is the next big project. Metal roof for the cabin and over Jeffs tent pad also need to be done. Mary will be trimming branches that are touching the ground to reduce the spread/intensity of wildfire. Thanks to all those who worked so hard during cabin opening and thanks to Mary for keeping it so clean. Remind everyone that all are invited to help out at cabin opening. The group discussed purchasing lots adjacent to the cabin to assure privacy particularly vacant lots. Jerry will check to see if there are any back taxes on any of the surrounding property and see if ownership or the property on the other side of the fence can be established. Someone will contact the Melogranos to see if they are interested in selling any of their property. Billy volunteered to call Gail to get Richards phone #. The next meeting was scheduled for a day on or about July 4, 2012. 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:

VesMor, LTD Jill presented an update on VesMor, LTD; it was estimated that VesMor will have about $75,000 in the bank so she will make a $50,000 distribution. Martin gave an update on the status of the holdings and the difficulty in obtaining royalty payments. It is anticipated that revenues will steadily decline over a relatively short period of time.

Richmor, Inc. Jill also gave an update on Richmor, Inc. about $30,000 will continue to be held aside for future research into the various holdings and other related work. She noted there was about $7,000 in various expenses such as taxes, and bank fees.