Annual Meeting - April 10th, 2006 at 7.pm.

Official Business Conducted:
The Annual Meeting began shortly after 7:00 p.m. at the Cobble East Pool, for the purpose of elections of the new Board of Directors.

Phil Hylander of Colonial Property Management was in attendance to count the votes. New officers were elected based on votes from 38 unit owners (about 81%).

The newly elected officers are:

• Linda Walton (President)
• Melanie Henderson (Vice-President)
• Jonathan Glassman (Secretary)
• Nancy DeMartini (Treasurer)
• Gerri Miccio (Director)

Nancy DeMartini and Linda Walton were designated as co-signers for for the association's checking accounts at Bank Atlantic. The prior board will no longer be authorized to sign on the accounts.

Cobble East News:
The roofing contract was signed and permits have been applied for. Work is scheduled to begin on 4/15 or 4/17.

Phil did some calculations based on the insurance company's report and determined that the amount that they gave us was for complete replacement of the roofs of ALL units. There is still a discrepancy between what they paid per square foot and the actual cost of the replacement. Phil has petitioned the insurance company, with the actual invoice amount, to pay the difference. He has also petitioned for payment of $35,000 in other hurricane damage related costs. This review process takes two to four weeks. Phil expects the decision by the end of this month.

A drywall contractor has been hired to make those repairs immediately following dry-in by the roofing company. They have already begun contacting unit owners to assess their damage and will continue to make appointments with those owners that they have not yet contacted.

It was stated that gutters will be replaced on those units that already had them.