SUNWATCH ON ISLAND ESTATES
CONDOMINIUM ASSOCIATION, INC.
Board of Director's Meeting
November 4, 2004

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

Minutes of the September 23, 2004 meeting were approved after a correction to include a motion to approve the maintenance for our domestic fire pump in the amount of $560 by Piper Fire Protection, Inc.

Secretary/Treasurer Bob Burwell reviewed the September 30, 2004 Financial Report. The Operating Account had a balance of $55,865.13; however $16,219.93 of that amount was in Prepaid Owners Fees. The Reserve Account had a balance of $315,792.58. Total expenses and reserve funding for nine (9) months was $362,313.97 compared to a budget of $362,871.00. Income for nine (9) months was $18,372.35 over total expenses and reserve funding. One owner was delinquent a total of $541.07 in monthly maintenance fees.

Jill Ellis from Resource Property Management reviewed her report dated October 29, 2004. The report contained an update on the several contracts with various vendors for different aspects of our fire control systems. The recommendation was that the Board use one provider for all the fire control services. Jill Ellis was instructed to obtain bids in order that the Board could select one provider. The report further suggested that the trash chute closers be put in operation. Jill Ellis was instructed to obtain bids to put the trash chute closers in working condition.

There were no notes in the suggestion boxes nor any letters sent to the Board.

There were no sales or leases to report.

Maintenance Committee – Chairperson Mona Cleary reported that she has received a few reports of water damage from the summer storms. Terry Werner reported that he just met with Dennis from Cut-Rite Lawn Maintenance concerning the French drain and they are working toward a solution. Lars Warn reported that the TVSS installation was finished this week. Lars Warn also reported that we have received a letter from the City of Clearwater that Sunwatch will be fined for future false fire alarms. We are waiting for a report from AEI Engineering on the bids they are receiving from contractors to correct our fire alarm system.

Pool Committee – Chairperson Linda Adams reported that the committee had met with Chris Paige from Peninsula Cement Finishing, Inc. Mr. Paige stated that the pool surfaces did not need to be refurbished for the next one to two years. There is a small crack in the middle pool that can be repaired. The cracks in the pool decks can be repaired instead of replaced.

Ted Graham from Kerns-Whitehouse & Associates, Inc. (Structural Consultants) presented an explanation of the proposal for services from his firm concerning the water intrusion below the outside walkways. A condition survey of the nine (9) exterior walkways, stairway and elevator landing areas, sun decks and HVAC corrals; bidding documents; schematics and drawings; and data compilation would cost $5,065. An additional $2,100 would be charged for the bidding process.

Questions from owners about the elimination of the personal Keypad Codes were answered. The Board reaffirmed that for security reasons the personal codes are being eliminated and the universal code will be changed every ninety (90) days.

Bob Burwell reminded the Board that a motion was passed at the October 29, 2003 Board meeting at the recommendation of the Air Conditioner Noise Committee that when owners replaced their air conditioner units, they must be replaced with “scroll” compressors with a minimum SEER of 15. The Air Conditioner Noise Committee now recommends that the SEER requirement be dropped. It was moved and seconded to amend the Rules and Regulations to require that when owners replace their air conditioner compressors they must be replaced with a “scroll” compressor. Motion carried.

Jill Ellis was instructed to obtain stickers as to this requirement to be placed on all existing compressors.

Lars Warn, President, informed the Board that we are paying $15 per hour thirty (30) hours per week ($15 x 30 = $450 per week) to Professional Cleaning Services for Lori’s cleaning. Lori receives $7.50 from the janitorial service. Lori could clean for Sunwatch through Resource Property Management for forty (40) hours per week at $11 per hour ($11 x 40 = $440 per week) where she would receive $8.50 per hour. It was moved and seconded to engage Lori through Resource Property Management at $11 per hour for forty (40) hours per week. Motion carried.

It was moved and seconded to grant the Holiday Decoration Committee up to $400 for decorations. Motion carried.

It was moved and seconded to engage Elizabeth Wadsworth, C.P.A. for the 2004 financial statements, preparation of the 2004 federal and state tax returns and the 2005 state intangible tax return. Motion carried.

Terry Werner suggested that the next newsletter contain a recommendation that the owners pour a cup of laundry bleach down their air conditioner condensation drains to prevent water leakage from stopped up drains.

Bob Burwell, Secretary/Treasurer reported that he had been working with Debbie Reinhardt and Jill Ellis from Resource Property Management for the past two months in preparation of the proposed 2005 Budget. He presented a budget after review of the income and expenses for 2003, the first nine (9) months of 2004, the projected final three (3) months of 2004 and current contracts. An alternate budget was also presented which included an additional $6,000 to Resource Property Management for on site management two (2) mornings per week. It was moved and seconded to submit to the owners for the Annual Meeting the alternate Proposed 2005 Budget as presented. Motion carried.

The next meeting is the Annual Meeting scheduled for 7 PM, Thursday, December 2, 2004.

There being no further business, the meeting was adjourned.

Robert A. Burwell, Secretary/Treasurer