President Ben Givens called the meeting to order at 9:00 a.m. Board members present were Bob Burwell, Ben Givens and Lars Warn.

Minutes of the January 28, 2002, meeting were approved as presented.

Rampart Properties has installed new software for their financial reporting which has caused a few problems, therefore the January Financial Report has not been prepared.

Kay Strehle reviewed the February 25, 2002, Management Report.

There were no notes from the Suggestion Boxes.
There was no other correspondence.

The following applications for sale were approved:
Unit #300 - Sergio Wechsler and Suzanna Brauer
Unit #800 - James A. and Bertha L. Parvin

Covenants Committee: All of the former members of the Covenants Committee, Gene Stanbrough, Patty Kunsemiller and Doris Mee, have all sold their units. The Board appointed Merry June Burwell and Betsy Garfield to the Covenants Committee.

Emergency Committee: The Board appointed Tony Marino as the third member of the Emergency Committee.

Tim Wukie suggested that the owners should flush their water heaters to prevent rust damage and leaks. A notice will be placed on the bulletin boards and the next newsletter.

Kay Strehle stated that a new sign for the SPA rules and regulations will be installed shortly.

Letters have been sent to all owners concerning the repainting of their outside storage doors.

Tony Marino - Unit 804 - stated that the air conditioner compressor for unit #800 has developed an unusual vibration causing the floor to vibrate. Lars Warn will contact the owners of unit #800.

The water leak at the SPA has been repaired.

Lightning protection alternatives were discussed and the Board felt it still needed more information.

The bid from Verizon to install a telephone at the pool area is $78.90 plus $45.50 per month. This compares to a bid from Answer 911 Solutions of $149.95 plus $45.50 per month. The Board did not accept either bid.

The updated insurance appraisal dated February 6, 2002, by I P A Appraisal Services, Inc. indicates an "Insurable Reproduction Cost" for the buildings, pools and tennis courts of $21,968,537 and "Flood Valuation" of $24,997,992. The difference in the valuations is because the Federal Flood requirements include appliances, cabinets, electrical fixtures, mechanical equipment and foundations below ground.

It was moved and seconded to increase our Hazard Insurance coverage to $21,983,537 and our Flood Insurance coverage to $24,997,922. Motion carried.

The next meeting is scheduled for Monday, March 25, 2002 at 9:00 a.m.

There being no further business, the meeting was adjourned.

Robert A. Burwell, Secretary/Treasurer