KEY ROYAL CONDOMINIUM, ASSOCIATION, INC.BOARD OF DIRECTORS MEETINGJULY 13, 2006MINUTES

Board Members Present: Susan King, Patti Place, Linda SarchioniPresidio Realty, Inc.: J. R. Wear, Steve Rodeiro, Sheila Ullmann Attorney for the Association: John GoedeThe meeting of the Board of Directors of Key Royal Condominium Association, Inc. wascalled to order at 7:24 pm by President, Susan King. Susan King introduced the BoardMembers, Presidio Realty representatives and John Goede to the homeowners present. A motion to accept the minutes of the March 28, 2006 meeting was made by Patti Placeand seconded by Linda Sarchioni. Motion passed.Steve Rodeiro of Presidio Realty, Inc. discussed the delinquency report. Payments mustbe in on time. The cost to the homeowner for John Goede’s fees is approximately$475.00. This will be the same if the special assessment is not paid. A late notice willbe sent and then the accounts will be turned over to John for collection.Presidio Realty has a home page. Notices and important information may be obtainedthrough the computer. Rental and re-sale applications can be printed off the website aswell.Susan spoke about the approval process for renters and new buyers. This is important.The Board is doing an excellent job interviewing applicants and reviewing applications.If there are any units that are sold or rented without the Board’s approval, thehomeowner risks being fined and having a renter evicted. Any renters not approvedwill be turned over to John for eviction. The docs are very clear on the process forrenting or selling.Board discussed painting and pressure washing. One proposal has been received.Susan said that painting is the first thing to be addressed.It has been difficult to keep maintenance staff here. There have been 4 so far thathave come and gone. Mancan was brought in to help clean the property when neededbut are very expensive.