NASSAU HOUSE

BOARD OF DIRECTORS MEETING

February 23rd 2004

Board Members Present:      Marie Kastenbauer, Carlos Rosende, Marge Trani, and Michel Pytlarz.

Absent:                                     Roy Regeski

Owners present  - Three

Marie called the meeting to order and asked Carlos for the Treasurer’s report. There was no significant change in the bank accounts.

Carlos requested a decision on payment of the current installment, due to Bell Painting—which was withheld at the last Board meeting—and the Board decided that since there is still one more payment forthcoming and, also, the 10 percent retainer, this is sufficient to cover any problems that may ensue, and payment should be made.

PAINTING:

Problems on Stack 11 have been corrected. Michel inquired whether painting of curbs was included in the contract and Marie said they were not.

Marie mentioned the painted area, at the front entrance, which is peeling and in dire need of repair. The Board knew the area in question; however, Rick did not, so Marie and Rick physically examined it. Rick proposed pressure washing and stripping the paint and repainting. Rick will provide the necessary equipment and train Renny in the use thereof.

Michel thought a thin layer of tile might be used but it was decided that for the present repainting etc. was to way we should go.

When Bell Painting has declared they have completed the work, Rick offered to do a thorough examination to determine that all work and any problems have been corrected. At that time if all is satisfactory, final payment will be released.

Marge read the minutes of the previous meeting and they were accepted.

RULES AND REGULATIONS

All the revisions and/or additions were reviewed and accepted. Amended document will be reprinted and distributed to all current owners.

NEW OWNER INTERVIEW FORM

The document was amended where it was felt that duplication of items covered in the Rules and Regulations occurred and the new version will be used in the future.

UNFINISHED BUSINESS

                                Circuit Breakers – Safety Issue                                      TABLED

                                Front Entrance Concrete                                                 TABLED

                                Landscaping                                                                     TABLED

                                Nassau House Signs                                                        TABLED

Marie, Carlos, Michel, and Marge will be meeting with Rob Rubenstein of Becker & Poliakoff, P. A. at 2 p.m. on Wednesday, February 25, 2004.

Meeting was adjourned at 9 P.M.