Harbor Island Condominium Association Minutes of Meeting Board

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					                                      Minutes of Meeting
                                      Board of Directors
                           Harbour Island Condominium Association
                                        March 19, 2010

        The following Board Members were present:

          Rick Meehan                 Tom Duffy                 Dick Kemper
                Chip Gordy                        Paul Rogers

       The meeting was called to order and the minutes of the January 15, 2010 Board Meeting
were reviewed. A motion for approval of the minutes as amended to change the insurance
information regarding the flood insurance to a limit of $250,000, the maximum allowed by
FEMA; to read per unit, not per building as stated, was made by Paul Rogers, seconded by Dick
Kemper and unanimously accepted.

        The Treasurer’s report was presented and reviewed. A motion for approval of the
Treasurer’s report was made by Chip Gordy, seconded by Paul Rogers and unanimously

         POOL CLOSING: After notifying the HI unit owners of the Board’s decision to close
the HI pool Labor Day weekend 2010; President, Dick Kemper, received a letter from a unit
owner stating the fall is the time many unit owners take advantage of their units and those owners
who do rent their units out during the month of September have included the pool as part of the
attraction of renting their unit. The HI unit owner requested the Board rethink their decision to
close the pool Labor Day Weekend. After the Board’s discussion, a motion to have the HI pool
remain open through Sunfest 2010 weekend was made by Paul Rogers, seconded by Chip Gordy
and unanimously approved.
         Dick Kemper will notify the unit owner of the Board’s decision to have the pool remain
open through Sunfest weekend 2010 in September, 2010.

        LIGHTS: It was brought to the Board’s attention the building lights are coming on at
4pm daily and it was decided to have Gene reset the timers on the lights to come on at a later
time, especially now Daylight Savings time is in effect.

        WINDOW REPAIRS: A HI unit owner has notified the Board the deterioration of the
siding around his unit has caused his windows to rot and would like the Association to repair
and/or replace said windows. The unit owner was informed the Association would not be
repairing said windows as the windows and doors, as per the Harbour Island by-laws, are the unit
Board of Directors
March 19, 2010
Page 2

owner’s responsibility.

        HENRY LEWIS PLAQUE: The Board noted the memorial plaque to be installed on the
bench nearest Henry Lewis’ unit has yet to be purchased and Dick Kemper volunteered to acquire
the plaque and oversee the installation of said plaque which will say “In Memory of Henry Lewis,
Harbour Island Director”.

        INSURANCE: Paul Rogers stated he had reviewed the FHA underwriting requirements
for lender’s mortgage insurance which require a condominium association’s budget to be
adequate to cover annual operating expenses, and also require replacement reserves equal to 10%
of the Association’s annual budget. The Board noted that HI is in compliance with the current
FHA requirements, with reserves equal to about 100% of the annual budget.
        Paul had a question on the FHA requirement which states the units must be 50% owner
occupied and Chip informed the Board second homes are considered owner occupied; and
therefore that requirement should not present any problems with the lender for anyone buying or
refinancing a HI unit.

        WMO: Tom informed the Board he had met with Jim Motsko of the WMO and the re-
negotiations have been completed for the WMO to be hosted by HI through 2011.

                With no further business to discuss, Paul Rogers made the motion to adjourn to
closed session, which was seconded by Rick Meehan, and unanimously carried.

                                               Respectfully Submitted,

                                               Jay Hancock, Secretary
                                               Paul Rogers, Asst. Secretary


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