SILVER LAKES HOMEOWNERS ASSOCIATION, INC.

BOARD OF DIRECTORS MEETING

MARCH 7, 2002

The Silver Lakes Homeowners Association, Inc. Board of Directors held a regular meeting on March 7, 2002 at 1:30 p.m. at 801 Silversmith Circle, Lake Mary, Florida. Notice of the meeting was duly posted on the Association property 48 hours in advance. A quorum of the Board was established and Mr. Perina called the meeting to order at 7:35 p.m. Directors present were George Perina (President), Kent Wilkins (Vice President), Madeliane Levine (Secretary), John Verity (Treasurer), Joyce Groom, Bill Smith and Maria Pascual. Lionel Bonck and Rod Meli were unable to attend. Tim Naylon, Community Association Manager, represented Sentry Management, Inc.

MINUTES:

Mr. Wilkins moved that the reading of the minutes of the February 12, 2002 meeting be dispensed with and that they be approved as written and previously distributed, which motion was seconded and passed unanimously.

TREASURER’S REPORT:

Mr. Wilkins and Mr. Verity questioned why SMI needs the December 2001 and January 2002 bank statements and check book, which the Property manager was unable to answer to their satisfaction. This question will be referred to Mr. Naylon’s District Manager for a response.

Mr. Wilkins moved to close the Associations checking account, transfer the balance to the Associations savings account and forward bank statements to SMI, which motion was seconded and unanimously passed.

The savings account check book will remain in the custody and sole control of the Association.

Mr. Naylon received a copy of the Silver Lakes West Homeowners Association, Inc. Year 2002 Budget (appended to these minutes) to determine if it is a suitable Annual Financial Report that can be circulated to members upon written request.

MANAGER’S REPORT:

Manager’s Report was reviewed, no questions were asked, and accepted.

ARCHITECTURAL CONTROL COMMITTEE REPORT:

Architectural Control Committee member Bill Smith reported that a fence and fountain/pond have been installed without the required request and approval.

Mr. Wilkins stated that all violation letters must be supported by the documents.

Ms. Levine stated that a member should approach the homeowner that has installed a fountain/pond for the" Construction Application to Architectural Control Committee" form that had previously been delivered to the homeowner by a member.

BEAUTIFICATION COMMITTEE REPORT:

Mr. Smith will get additional information regarding the "Yard of the Month" sign.

Mr. Smith requests articles for the Association news letter including a 2 to 3 paragraph article from SMI.

Mr. Smith will publish in the news letter a notice to all homeowner to trim their tree limbs away from the Association walls.

Mr. Smith and Mr. Wilkins will determine which trees are homeowners responsibility and Association responsibility.

COMMON AREAS COMMITTEE:

Mr. Wilkins moved that $1,000.00 be approved to update the entrance lights, with matching funds coming from the Master Association, with a system to be determined later, which motion was seconded and passed unanimously.

Mr. Wilkins reported that the land sale settlement is delayed due to the appraisers need for the drainage plans.

OLD BUSINESS:

Mr. Perina will refer Mr. Moore to the Associations attorney to negotiate a settlement for the suit filed regarding Mr. Moore’s trailer that is parked in his driveway.

Mr. Perina will contact the Associations attorney regarding the Associations chances of prevailing in a lawsuit with Mr. Kopman and his pick-up truck that leaks oil and is parked on his rear/side lawn.

Mr. Wilkins will order the Board Meeting Notice sign and will post the sign prior to the Board meetings as required.

NEW BUSINESS:

Mr. Naylon was instructed to send a violation letter to the homeowner of 992 Silverton Loop regarding the parking of a tow truck.

The April 4, 2002 Board Meeting will be held at 891 Silverado Court at 7:30 p.m.

ADJOURNMENT:

Mr. Perina moved to adjourn the meeting at 9:55 p.m., which motion was seconded and passed unanimously.