KEY ROYAL CONDOMINIUM ASSOCIATIONMINUTES ANNUAL MEETING MARCH 27, 2007

President, Susan King, called the meeting to order at 6:32 pm.Representing the management company, Presidio Realty, Inc. were Steve Rodeiro, Assistant to the CEO, C.A.M. and Sheila Ullmann, C.A.M., property manager. The newBoard Member, Joseph Kalinowski was introduced.Steve Rodeiro introduced the new Board Members. Steve Rodeiro explained there were3 positions available for the Board of Directors and since only 3 members applied, therewould be no election. Their official tenure starts at the adjournment of this meeting.Patti Place made a motion to waive the reading of the previous minutes. Susan Kingseconded the motion. Motion passed.Susan King spoke about the importance of changing the air conditioner filters. Therewas Key Royal mugs and can holders for everyone in attendance. Key Royal shirts andbase hats were available for sale. The shirts are 2 for $25 and the hats are $10 each. A twenty minutes question and answer period was held.#1412 Sharon Stites questioned the form that was to be filled out by all the residents.Susan King responded that name, address and phone numbers would be needed incase of emergency.#1011 Chuck Cannon asked Sheila Ullmann about guest passes. He didn’t feel therewere enough spaces near building #10.#531 Kristen Farrar thanked the board for the palm trees that were planted near thefront entrance at the circle to avoid accidents. Patti Place explained that some kidsalmost go hit by vehicles going the wrong way. A new speed bump would be placed onKey Royal Lane.#1631 Al LaFemina had an estimate done which would include an island. He felt thepalms are a hazard, especially during hurricanes.#1011 Patti Cannon asked if the owners received financial reports. Her husband saidthat he had it.#311 Charlie Miller mentioned the rooster that was in Bldg. #1. Susan King explainedwhat had happened. He also said there was a party at the pool with many children.