Minutes from September 30, 2008 Meeting SBHA

Minutes from September 30, 2008 Meeting ofSouth Benbrook Homeowners AssociationMeeting called to order at 7 pm by Jess Jordan, SBHA PresidentJess read the Memorandum of Intent to the attendees. He explains the memorandum of intent is strictly for the gas and oil lease. We are NOT going to patrol the neighborhood and tell you what color you can paint, etc.

Some neighbors and other Homeowners Associations have signed for $7,000 to $22,500 an acre. The SBHA is trying to negotiate on behalf of those members who want to stand together. The Memorandum of Intent is to show the oil and gas companies there is interest from our area.

The SBHA was re-activated solely for the purpose of negotiating as a group with the natural gas companies.You are welcome to go on your own way and negotiate on your own if you wish.

SBHA closed the account at the bank and opened an account with the Bank of America, where the secretary works.

Jess has been going to the city council meetings… there has been some discussion regarding code violations for weeds, high grass, etc. and Jess requested that anyone interested in working with him to provide mowing and cleaning up around houses for our neighbors to contact him to help him help others with things they cannot afford… the code compliance officer needs help …Jess Jordan gave his phone number and address for anyone interested in helping out. This is not to go to someone’s rent house and clean it up for them. It is to help those who need help.

The following questions were asked by members in the audience:

Q: Lot size on the form??
A: Jess says he does not need that. The oil and gas company will have that.

Q: Is the dollar amount per acre what the homeowner will get paid? … is that for the entire acreage of South Benbrook or is it figured on each property size?
A: it is for your portion of the acre

A list with the officers names, phone numbers and email addresses was distributed to members. If you need anything, call your district captains, if you are unable to get them… call Jess.

At the last meeting, the negotiating team was created, Vince Brown is the Chair. The negotiating committee has met and is moving forward.

Jess has had questions from people wanting to know how the gas will be extracted, and how the gas is going to be extrapolated from their property. It will not have any effect on your personal property.

Q: are there any other homeowner associations near us that we could join with to get better bargaining position??
A: Brett: all other HOA’s in this area have already signed

Q: is anyone coordinating with the city of Benbrook? A: Jess is attending City Council meetings.

Q: how do you find out if you have mineral rights
A: Jess: You can check on your warranty deed… Also records are available at the Tarrant County Deed Record office. Deeds filed since the mid-1970’s are available online at the Tarrant County web site.

Q: Do those homeowners with a mortgage need to get release from mortgage company?
A: Brett : If there is a clause in your mortgage it is only to protect the mortgage company from you demolishing your home for a drill site. Since drill sites in Benbrook cannot be within 600 feet of a residence, this will not be an issue.

Q: how many acres are involved … are we looking at only one well here
A: Brett: not necessarily..

Q: How does a homeowner determine their lot size?A: Jess: go get a platQ: What is the pay-out for those of us who own half the mineral rights?-A: Jess: you will get half the value of your lot size
Q: we want to control the pressure station
A: Brett: we do not have a place for pressure station

Q: it was a pressure unit and the noise level was still very highA: Brett: there is an indoor pressure station, we are going to negotiate

Q: on the sign-on bonus will it go to the homeowner??
A: whoever owns the mineral rights will get the check.

Q: understanding.. that the city of Benbrook has ordinances

Q: any information on what affect the drilling may have on our water?
A: Dan Tulley councilman: none whatsoever.

Q: is the City of Benbrook negotiating with SBHA?
A: Mr. Tulley: no they are not. If the city had property the city manager would be handling that on behalf of the city. He explained what the city owned … they are making over $9,000. a month on the current interests from the oil and gas

Q: misinformation… even though the royalties can be split the signing bonus is not split…
A: the signing bonus and royalties will be split

Mr. Tulley invited the attendees to the council meetings held on the 1st and 3rd Thursday of every month.. if anyone has questions they can be sent to the city manager or any city council members

As soon as we get any information from gas company we will have another meeting..Meeting adjourned at 8:05…

Those who had not paid dues and/or signed Memorandums of Intent did so after the meeting was adjourned.