Board Members Present: Susan King, Patti Place, Chris Cook Presidio Realty, Inc.: Steve Rodeiro, Sheila Ullmann The meeting of the Board of Directors of Key Royal Condominium Association, Inc. was called to order at 6 pm by President, Susan King. There were no minutes to read or approve, as this was the first meeting of the Board of Directors. ‘Steve Rodeiro from Presidio Realty, Inc., the management company, gave the Management Report. The CPA will present the turnover audit to the Board. Steve reviewed the Financials. He explained the procedure. Arrears — Letters to go out next week. This will be a strong letter that will tell the homeowner to contact the office within 5 — 7 days and either pay the arrears or show proof that it has been paid. If there is still a balance due, the next letter will inform the homeowner that a lien and foreclosure proceedings on the unit will be filed. The attorney handles the account at that point. The Budget is based on 100% collection. It is the responsibility of the Board and the management to collect this money and follow the collection policy. Steve discussed the insurance. Ninety days prior to the insurance expiration date, Management will contact other insurance companies to get competitive bids. U. S, Security was hired as the security company. The monitoring of the guard is done each day. The computer is downloaded from the probe that the guard uses to touch key points on his rounds. This is done the following day in the Management Office by Sheila Ullmann, Reports can be generated from the Tour Trax system, which is what we are using. ‘A motion was made by Patti Place to purchase a golf car for the security guard to use on his rounds. This golf car is to have headlights and a strobe light. The purchase will be from B & W Golf Cars for $3136.54. Chris Cook seconded the motion. Motion was passed. There was a discussion about hurricane shutters. Susan King explained that there were two companies that submitted specs and pricing. Rollsecure Shutters will give the residents a discount. Information can be obtained from the Management Office.Page 2 Minutes Susan King talked about the Coffee and...which was held on April 23". The Board was pleased at turnout. There were sign up sheets for the Neighborhood Watch. This committee will work with the Sheriffs Department. A committee is working on a party for July 4" for all homeowners. This committee will meet June 1°. Patti Place spoke about the ARB committee. She will contact the people who have signed up. This committee will review changes on the outside of the units only. They will be meeting sometime during the first week in June. Susan King reminded everyone about the trash pick up schedule from Valet Waste. The pool situation was discussed. The pool hours are from 10 am until 10 pm. There are only 2 guests allowed in the pool and the homeowner must accompany them. No Parties are allowed in the pool area. Glass containers of any kind are not allowed. ‘There will be fines established for violations by a special committee. ‘The Board then took questions from the floor. Sharon Stites Unit #1412...Sharon offered to help Steve obtain addresses. She said they were listed in the county records. These go back to 5/1/04 when the Association was established. Patti Place spoke about the front gates being closed. Majority agreed. Packages can not be accepted in the office. Christin Farrar Unit #531 Concerned about office not being open on weekend for emergencies. Steve explained that an answering service is being contracted to handle all calls when the office is closed and will contact the guard or Danny, depending on the nature of the problem. Vincent Zasa Uniti 1023 Requested a 2 week notice prior to when the next maintenance payment is due. Susan King reminded everyone that mailings are very costly and that a notice could be put on the mailbox. There is a bulletin board in the office now also. Mr. Derek Baker has volunteered to translate the Newsletter into Spanish for our Spanish speaking residents.Page 3 Minutes Linda Sarchioni_ Unit #1033 Was concerned about spending money for the phone for the guard and the golf car. Steve assured her that the funds were there. Also that the security was budgeted for. Joseph Godcharles Unit #511 Would like to have a Suggestion Box. ‘The meeting was adjourned by President, Susan King, at 7:20 pm. Respectfully submitted by, Sheila Ullmann Office Administrator Key Royal Condominium Association, Inc.