SUNWATCH ON ISLAND ESTATES
CONDOMINIUM ASSOCIATION, INC.
Board of Director's Meeting
June 24, 2004

President Lars Warn called the meeting to order at 4 PM. Board members present were Cliff Snedeker, Lars Warn and Terry Werner. Bob Burwell and Susie Thatcher absent.

Minutes of the May 6, 2004 meeting were approved as presented.

President Lars Warn reviewed the May 6, 2004 Financial Report. We are $5,848 under budget this year to date. There are no delinquencies in monthly maintenance fees.

Jill Ellis from Resource Property Management reviewed her report dated June 21, 2004.

None.

The following sales were approved:
Unit #210 to Peter and Terry Serbanos
Unit #310 to Julian and Elizabeth Greengold

Landscaping Committee - New flowers have been planted and many trees have been trimmed. The property was sprayed for bugs.

Jeff Garfield Unit# 604 investigated light commercial grade treadmills and recommended the Landice L7 Ltd at $2,499 plus tax and installation. It was moved and seconded to instruct Jill Ellis to order the treadmill. Motion carried. Motion was made by Terry Werner and seconded by Cliff Snedeker.

A test project, which cost $8,975, was designed to improve drainage and resurface the second floor over the garage area. It looks good. There was a quote of $19,890 to do the entire floor. The issue was tabled until the entire board is present.

Cleaning Concepts quoted $560 to deep clean and seal the floors in all the lobbies and the elevator floors. It was moved and seconded to proceed. Motion carried. Motion was made by Terry Werner and seconded by Cliff Snedeker.

Professional Landscape Services & Supply has reimbursed Sunwatch for the damage caused by cutting the power lines under the lawn. It was suggested that the property be mapped for all underground cables. It was announced that he property manager must be notified prior to work being done which is ordered by committees. To ratify the project, Terry Werner moved to accept and Lars Warn seconded. Cliff Snedeker opposed. The motion carried.

TVSS recommended installing a dedicated control panel for the surge protector for the building for $496. It was moved and seconded to proceed. Motion carried.

The unclaimed bicycles that have been removed from the garage will be donated to the Salvation Army.

Two new American flags have been purchased.

Jill Ellis was instructed to contact Progress Energy for a free energy audit of the property.

The next meeting is scheduled for 4 PM, Wednesday, July 21, 2004.

There being no further business, the meeting was adjourned.

Betsy Garfield for Robert A. Burwell, Secretary/Treasurer