BOARD OF DIRECTORS MEETING

SEPTEMBER 7, 2004

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

Owners Present: 8

Meeting called to order at 7 P.M.

Minutes of August 2, 2004 meeting were read and accepted.

HORIZON MAINTENANCE—Employees have received their raises as per our agreement. Invoices will be reviewed and assuming we receive the information we need to approve payment we should be continuing our association with them.

ELEVATOR RECALL ALARM—Doris has contacted Broward County Security and the problem seems to be corrected.

SWIMMING POOL AREA—Renovations are needed and this needs to be addressed by the 2005 Board of Directors.

TREASURER’S REPORT—All maintenance has been paid, to date. Checking account balance as of August 26^th was $25,166.56 (Last deposit made by Carlos, on that date, was $ 2,015.84). Carlos and Marge will work on making sure everything is in order and prepare preliminary budget information, with Doris’ assistance.

LANDSCAPING—Marie and Sandy will be planting around the Nassau House sign, outside the rear entrance, and beneath the recreation room windows, in the pool area. Tri-R still has to complete the hedges on the south wall (between the Sea grapes in the pool area).

LOBBY—There is an archway into the mailbox area and some preliminary work will be done in the lobby. Estimated time of delivery of the furniture, on order, is November 1^st.

APPROVAL OF NEW OWNERS—The possibility exists that someone might attempt to purchase a unit with a small down payment and/or a questionable credit rating. In the event they are unable to pay their maintenance it would affect all the other owners. The board has agreed to contact our attorney and inquire whether we have the authority to require a 20% down payment and/or one years prepaid maintenance. We will keep you updated on this issue.

ASPHALT—We have received several proposals so varied in cost and square yardage which makes it difficult, if not, impossible to compare and obtain a true picture. Therefore, the board has decided to hire an engineer, at a nominal cost, in order to receive an actual measurement and recommendations as to the options we should consider in making a valid decision.

Meeting was adjourned at 9 P.M.