SILVER LAKES WEST ASSOCIATION, INC.

BOMD OF DIRECTORS MEETING

AUGUST 7, 2003

MINUTES

CALL TO ORDER

The meeting was called to order at 7:15 PM on August 7, 2003 at the 840 Silversmith, Lake Mary, Florida.

PROOF OF NOTICE

Notice was posted at entrance in advance of the meeting in accordance to Florida Statutes and the Association Documents.

QUORUM

Present at the meeting were Kent Wilkins, Bill Smith, Gary Denham, John Verity, Rod Mefl, Maria Pascual and Danny Moore. Representing Sentry Management was Lynda McGee. Gill Rabinder and Loinel Bonck were absent.

APPROVAL OF MINUTES

The following corrections are to be made to the July 2003 minutes:

* Should read Gill Rabinder instead of Mr. Gill.

* Proof of Notice - Change both entrances to a single entrance.

* Page 3 - Change M William to EE Williams.

A motion was made by Rod to approve the July 2003 minutes as corrected. Motion was seconded by Bill, vote called, all in favor, motion carried.

OFFICER’S REPORT

No report.

TREASURER’S REPORT

The Treasurer reported that deposit for the eminent domain was made in the Suntrust account. Management informed the Board that they should increase the Association Board fidelity bond since the Association has received this addition funds under only the Board’s control. The treasurer will be moving $100,000.00 to another account in the near future.

Information was given concerning florida statute 74.071 concerning the reclaiming of funds of deposit if overpayment is made prior to finalization. This means that the funds can not be used until the matter is finalized.

MANAGER’S REPORT

A report was given to all Board Members. Included with the report was the listing of notices sent out during this period based on the approved inspection of the Association.

ARCHITECIURAL REVIEW COMMITTEE

No report.

LANDSCAPING

No report.

LAWN AWARD

Maria stated that they will be making a selection this week.

WELCOME

Ken presented new welcome packets for the use by the committee. Maria requested that the closing reports for July and August be mailed to her.

NEWSLETTER

No report.

OLD BUSINESS

County Land Acquisition - The funds for the deposit were received on the county land acquisition. The Association attorney is requesting a mediation with the county at this time. The Association Attorney has advised that the funds for the deposit not be used until the finalization of the matter. To assist the Treasurer Management will get a CD rates listing for banks for his use.

Town Hall Meeting - Gary presented examples for a flyer to be mailed to all owners concerning the meeting. The Board review the flyers and finalized the one with changes. Management was instructed to send the flyer out two weeks prior to the 9/10/03 meeting.

Ken will be handling obtaining an easel and pad for the meeting.

Bill presented what the cost for 50 people would be to have subs, pizza, cake & cookies, wings and drinks. The Board agreed to have pizza, wings and drinks for the meeting. The food will be served beginning at 6:30 PM.

Legal - An amended suite has been filed against the Kopman’s. Within the next two weeks depositions will take place. Ken reported that they Kopman’s have filed a harassment complaint with Channel 9 news station. Ken will be turning over the letter from Channel 9 to the Association Attorney.

NEW BUSINESS

Dog complaints were received at the meeting. Ken recommended that a letter be sent to lot 14 & 84 concerning that dog do is in violation of the seminole county ordinance and that if further complaints are received they Board will report the violation directly to Seminole county.

NEXT BOARD MEETING

The next meeting will be held on the first Thursday in September at the library.

ADJOURNMENT

A motion was made by Danny to adjourn the meeting. Motion seconded by Bill, vote called, all in favor, motion carried.

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