B & R Pest Control (321-449-0399) B & R Pest Control (321-449-0399)

Buildings A - B - C Buildings D - E - F

Fourth Friday of every other month: Fourth Friday of every other month

Jan-Mar-May-July-Sept-Nov Feb-April-June-August-Oct-Dec

Beginning at 10:00 a.m. Beginning at 10:00 a.m.

ISLAND VILLAGE CONDOMINIUM ASSOCIATION

MINUTES OF THE ANNUAL MEETING

HELD ON

TUESDAY, DECEMBER 4, 2007 AT 7:00 P.M.

1. Call to Order:

The meeting was called to order by Betty Gaulin at 7:00 p.m.

Betty was presented with roses from the Board members for her service this past year.

2. Establish Quorum of Directors:

Betty Gaulin-President, Gwen Eifler-Vice President, Mitzie Rose-Treasurer, Steve Gaulin-Director, Larry Haymes-Director, Mary Touris-Secretary and Sid Shipley-Director. Madeline Figas-Director was not able to attend due to an injury. Michelle Dugan and Kathy Watts represented Reconcilable Differences.

3. Certification of Proxies and establishment of a quorum or owners for Annual Meeting:

Notice of the Annual Meeting was mailed to all owners and posted 14 days in advance of the meeting. Sixty-five (65) owners were in attendance in person or by proxy. Sixty-three (63) were needed to hold the Annual Meeting.

4. Approval of Minutes from the December 5, 2006 Annual Meeting:

Mary Touris read the minutes from the 2007 Annual Meeting which was held December 5, 2006 and one correction was noted. Betty Gaulin motioned to approve the minutes of the December 5, 2006 with correction discussed. Gwen Eifler seconded the motion and the motion passed by unanimous voice vote.

5. Financial Report:

Michelle Dugan reported she had the coupon books and auto debit letters in her possession and any envelopes not distributed that evening would be mailed out the following day. She also stated there was information in the packet of the past years’ events and information on how to obtain a certificate of insurance if a mortgage company requires it.

6. Results of the 80/20 Amendment Vote:

So far 62 owners have voted with the results so far being 50 owners agreeing to change the documents to allow people 45 years of age and older to reside and 26 voting to keep the requirement of being 55 years or older the same.

Discussion ensued on how much the attorney was charging the association and the Board was questioned about why it was even being done. Mitzie gave the history of the original amendment and stated that the “straw vote” ballot a few months ago showed that a majority of members wanted to legally vote on the issue. The new proxy was sent in order to change the Declaration of Condominium to match state law requiring associations deemed “55 and over” to allow individuals 45 and over to purchase 20% of the units.

Larry Haymes offered to assist to explain in layman’s terms anyone confused by the legal terminology.

The Board wishes to get as many of the 93 owners to vote as possible and as such have tabled the final determination of the vote until the next meeting. The proxy is valid for 90 days and it was determined that the Board was within its rights to table the voting results.

7. Presentation of 2008 Board Members:

Since there were five (5) positions open and only four (4) owners sent in their Intent to be a Candidate form, there is no vote necessary.

The following owners are your 2008 Board of Directors.

LYNN CARTER Unit #C222 (through 2009)

LARRY HAYMES Unit #A101 (through 2009)

SID SHIPLEY Unit #E238 (through 2009)

BERNIECE L WILLIAMS Unit #C125 (through 2009)

BETTY GAULIN Unit #E134 (through 2008)

STEVE GAULIN Units #F146/147 2008)

MITZIE ROSE Unit #F143 (through 2008)

MARY TOURIS Unit #E135 (through 2008)

There is one more Board seat open and the present Board urged anyone interested to contact management or a Board member.

8. 2007 Events as reported on the coupon cover letter:

Insurance News:

Ranew Insurance Agency utilizes an on-line company to handle the issuance of certificates of insurance for mortgage-holders. When your mortgage company requests a “Certificate of Insurance”, there are two ways to obtain it. You or your mortgage-holder can access them on the internet at www.EOIDirect.com or call them at 877-456-3643. If you need a certificate for your records, you can log on, sign in and print one out from your own computer. Your agent is Josh Ranew and if you have any questions, he can be reached at 321-722-2338.

9. Maintenance Updates:

Bonner Coatings is currently working on the repairs and painting of buildings “A” and “B”. We apologize for the inconvenience this messy work causes, but we are repairing cracks and concerns before the addition of new paint. We are also obtaining bids for gutters and downspouts on those two buildings, as the old ones will come down during this repair work and we do not believe they will be able to be re-used.

A large underground pipe had to be repaired on the west side of the property. Since it houses water from our pond, the county said we were responsible for any repairs to it. The work was done by Ramage Construction, at a cost of $2,500 and we hope this repair stops further disintegration.

Roofs are being replaced throughout the community. “B” & “E” building roofs were recently completed and we believe “F” will be next, although “C” also needs replacement. The budget for 2008 includes money to re-roof one building, so we the Board is assessing the needs of both right now.

Maintenance man David Levine is working out very well. He works 15 to 20 hours per week, on average, and has an extensive knowledge of carpentry, irrigation, electrical and painting, to name a few. We thank him for his quality work.

The county fire marshal required fire extinguishers and upgraded lighting throughout the complex. That work as well as pool repair work, was done this year and paid from your reserve accounts.

10. Open forum, comments and discussion:

An owner asked if the open Board position could be shared by 2 people, serving 6 months each since many of the owners are only here part time. Michelle stated some associations use a speakerphone for those members not able to attend.

Betty Gaulin stated that instead of mailing the minutes, some would be available in the Recreation Room. She also suggested owners use the RDI website for Island Village which has minutes of meetings, information and updates.

Many owners thanked the volunteers who put on the Christmas party and stated everyone enjoyed themselves.

11. Adjournment:

With no further business to discuss, the meeting was adjourned at 7:35pm.

Respectfully submitted,

Kathy Watts, LCAM #27668

Reconcilable Difference, Inc

ISLAND VILLAGE CONDOMINIUM ASSOCIATION

ORGANIZATIONAL MEETING

held

immediately after the 2008 Annual Meeting

1. Call to order:

The Organization Meeting was called to order by Betty Gaulin at 7:40pm.

2. Elections of Officers:

President: Betty Gaulin - Bernice Williams nominated Betty for the position. Larry Haymes seconded the nomination. Betty was asked if she would accept the position and she stated she would if there was no one else that wished it.

Vice President: Larry Haymes - Larry accepted the Vice President position when offered.

Secretary: Mary Touris - Mary accepted the Secretary position when offered.

Treasurer: Mitzie Rose and Co-Treasurer: Berniece Williams - Mary Touris nominated Mitzie for the position. Larry Haymes seconded the nomination. Mitzie stated she would rather not but it was determined it would benefit the association for Mitzie to accept the position with Berniece Williams as a Co-Treasurer until Berniece felt comfortable taking the position over completely. Mitzie agreed to accept the position with those stipulations.

The 2008 Board of Directors is as follows:

President: Betty Gaulin Unit E134

Vice President: Larry Haymes Unit A101

Secretary: Mary Touris Unit E135

Treasurer: Mitzie Rose Unit F143

Co-Treasurer: Berniece Williams Unit C125

Director: Steve Gaulin Units F146/147

Director: Sid Shipley Unit E238

Director: Lynn Carter Unit C222

3. Adjournment:

With no further business to discuss, the Organizational Meeting was adjourned at 8:00.

Respectfully submitted,

Kathy Watts, LCAM #27668

Reconcilable Difference, Inc

DRAFT

MINUTES OF THE ISLAND VILLAGE CONDOMINIUM ASSOCIATION

BOARD OF DIRECTORS BUDGET MEETING

HELD TUESDAY, NOVEMBER 13, 2007

1. Call to Order:

The meeting was called to order by Betty Gaulin at 7:00 p.m.

2. Establish Quorum of Directors:

Betty Gaulin-President, Gwen Eifler-Vice President, Mitzie Rose-Treasurer, Madeline Figas-Director, Steve Gaulin-Director, Larry Haymes-Director, Mary Touris-Director and Sid Shipley-Director. Michelle Dugan and Kathy Watts represented Reconcilable Differences.

3. Approval of Minutes from October Board Meetings:

Betty Gaulin motioned to approve the minutes of the October 9, 2007 Board meeting as written. Gwen Eifler seconded the motion and the motion passed by unanimous voice vote.

5. Financial Report:

Mitzie Rose presented the financial report and stated there was $36,921.20 in the Operating Account and $149,568.32 in the Reserves. All the accounts look good at this time.

Mary Touris volunteered to fill the position of Secretary until December 31, 2007. Betty made a motion to accept Mary’s offer to fill the position. Gwen Eifler seconded the motion and it passed by unanimous voice vote.

Results of Vote to Partially Fund or Special Assess in 2008:

The results of the vote for partially funding the Reserves were announced. 70 owners voted to waive the full funding of the Reserves and 4 owners voted for fully funding the Reserves.

6. Board Approval of 2008 Budget:

Betty opened the floor and Michelle was on hand to answer any questions from owners. Since there were no questions, Gwen Eifler made a motion to accept the Proposed 2008 Budget as presented with Reserves “partially” funded. Madeline Figas seconded the motion and it passed by unanimous voice vote.

Assessments for 2008 are as follows: 1 bedroom $247.00

2 bedroom $306.00

3 bedroom $370.00

7. Maintenance Update:

· Roof Replacements: Buildings B & E are completed and paid for. A credit for $4,000 from FPL for each building was received and insurance credit is expected once mitigation forms are accepted by Citizen’s Insurance. Shaffer Roofing’s bid for Building F was also received. The bid is good for 90 days and equals the same per square foot price as the other buildings. The bid was $73,987 less the $4,000 FPL credit. The “C” building roof has developed more water intrusion issues and Shaffer Roofing will be contacted to see if “C” roof may be in worse shape than “F” roof.

Concrete Repairs & Painting of “A” & “B”: The contract has been signed and concrete repairs will begin on November 15^th. Due to the fact the present gutters must be removed and will be damaged beyond repair, a bid was received from Danny Beard Gutters for $1,487. Competitive bids will be obtained.

Drainage Pipe Repair Update: The drainage pipe in the easement west of Island Village was repaired by Ramage Construction and a final bill was received by RDI in the amount of $2,000. Betty Gaulin made a motion to take the funds needed from Deferred Maintenance. Gwen Eifler seconded the motion and it passed by unanimous voice vote. It was again stated that the city refused to repair this, stating that this easement is to be maintained by Island Village.

Pool filters: Six filters of the 18 in the pool equipment needed to be replaced at a cost of $698.00. Betty Gaulin made a motion to take the funds needed from Deferred Maintenance Reserves since these filters are replaced less than annually. Madeline Figas seconded the motion and it passed by unanimous voice vote.

8. New business:

Approval of Christmas bonus for onsite maintenance: All felt David was doing a good job and as such, Steve Gaulin made a motion to approve a Christmas bonus of $300. Larry Haymes seconded the motion with Steve, Larry, Betty, Gwen, Mitzie, Mary and Madeline voting yes. Sid Shipley voted no. The motion passed.

Update on Candidates for Board: Betty reported the candidates volunteering to serve a two year term as Board members starting in 2008 are: Lynn Carter, Larry Haymes, Sid Shipley and Bernice L Williams. They will join Betty Gaulin, Steve Gaulin, Mitzie Rose and Mary Touris who are serving their second years. Betty requested anyone interested in volunteering for the Board contact any Board member or management as there is still one position left unfilled. The Board will appoint another for the last position at a future meeting.

Amendment Change: Gwen explained that another proxy will be delivered this week. It is SEPARATE from the proxy used at tonight’s meeting and separate from the Annual Meeting proxy for the Annual Meeting. This week’s paperwork includes a coversheet and a proxy/vote to change the Document of Covenants from stating that Island Village is 100% a “55 and over” community to read “80/20” which means 80% of residents would have to be 55 years of age or older, but 20% of residents could be 45 to 54 years of age. The association would still be protected by the Housing for Older Persons Act., but allowing some younger people is thought to help in selling units here. Votes will be counted the night of the annual meeting and a total of 62 “yes” votes are needed for the change.

9. Next Meeting Date Set:

The next Board meeting is scheduled for December 4, 2007 at 7:00pm. This will be the Annual Meeting, so all owners are urged to attend or send in their proxy.

10. Adjournment:

There being no further business, the meeting ADJOURNED at 7:50 p.m.

Respectfully Submitted,

Kathy Watts, LCAM #27668

Community Association Manager

Reconcilable Differences, Inc.

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December 1^st will be the Christmas dinner for Island Village in the clubhouse. The cost will be $3.00 and will include a pork dinner with all the fixings and spiked punch. BYOB if you wish something else.

**Please R.S.V.P. to Mary Touris or Betty Gaulin as soon as possible so they can make sure there’s enough food for all.

COME JOIN THE FESTIVITIES !!!!!!

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ISLAND VILLAGE CONDOMINIUM ASSOCIATION, INC.

2135 N. Courtenay Pkwy, Merritt Island, FL

Board of Directors Meeting

held TUESDAY, September 11, 2007

1. CALL TO ORDER / PROOF OF NOTICE:

The meeting was called to order at 7:00 p.m. in the recreation room. Notice of this meeting was posted on the clubhouse door more than 48 hours in advance of the meeting.

2. ROLL CALL / QUORUM ESTABLISHED:

Board Members Present: President Betty Gaulin, Vice President Gwen Eifler, Treasurer Mitzie Rose, and Directors Madeline Figas, Steve Gaulin, Larry Haymes, Mary Touris and Sid Shipley. It was announced that Isabelle Gentile has resigned as Secretary. This vacancy has not been filled. Christine Landwehr, Manager, and owners Don Williams, Mickey Phaneuf, Donna Whaley, Virginia Bradley and Karen Auth were also in attendance.

3. APPROVAL OF MINUTES FROM JULY 17TH MEETING:

Gwen Eifler motioned to approve the minutes of the July 17th meeting as distributed to all residents. Madeline Figas seconded, all in favor.

4. FINANCIAL REPORT:

Christine reported the Operating account balance as of the end of August was $39,013.56 and the Reserve account balance was $263,704 (Deferred Maintenance Reserves $99,506.97, Roofing Reserves $99,184.00, Painting Reserves $50,255.54 and Paving Reserves $14,758.02.)

Mitzie reported that 2 Certificates of Deposit (CD) have matured since the last meeting and the Association has another CD maturing on September 29th. The Coastal Bank CD was renewed for 6 months at an annual percentage yield of 5.41 and will mature in February of 2008. The proceeds from the CD maturing at Fidelity were placed in the Fidelity Money Market Account. Gwen stated a decision will be made on what to do with the funds from CD maturing on September 29th within a couple of weeks. Mitzie closed this report by stating the Association has approximately $121,569 dollars liquid money that can be used when needed.

5. UNFINISHED BUSINESS:

1.) Roofing Engineer: Betty stated the roofing engineering report has been received by the Association and she made it available for others to review. The Engineering firm is recommending a modified bitumen torchdown roof system. She has spoken to Shaeffer roofing who had submitted a bid for the Durolast roofing system,but they do not install this types of roof. Shaeffer did rework his estimate to include some of the engineers recommendations. She has also spoken to Winebarger Roofing and plans to meet with them. She summarized quotes received to date: JAG (torchdown) $76,000 {incomplete bid}, Alamar (torchdown) $91,000, Alamar (Durolast) $80,867, Shaeffer (Durolast) $73,807. These bids are still being fine tuned for comparison.

She has been told that Florida Power & Light gives a rebate for Durolast which could be as much as $5,000 dollars. It was asked whether the old roof would be removed. Betty stated yes, and the new roof would be sloped to allow water to drain into the scuppers. Betty motioned to have the $2,410 dollar expense for the engineer’s report be taken out of the Roof reserve account. Mitzie seconded the motion. All were in favor.

Sid asked if the roofing engineer would be responsible if something goes wrong with the roof. Betty stated the engineer has only been paid to do an assessment of the roof and provide a recommendation to the Board. There was mention that the a/c stands should be replaced when the roof is replaced as many of them have rotted. County Code now mandates elevated aluminum stands.

2.) Concrete Restoration in “A” & “B” Buildings: Betty stated the Association has received two quotes for concrete repairs. Christine is following up with JAG on the quote they promised. Betty has made contact with another company and they have promised to have information to the Board next week. Betty also stated the Board has received one quote for the painting of the A & B buildings.

3.) Abandoned building/lot South of Island Village status: Owner, Mickey Phaneuf, stated the property was bought by the bank at Auction and they are simply going to try to sell it. Christine noted that she is following up with Al Yorkston, from Commissioner Nelson’s office. According to Mr. Yorkston, the bank was given a notice of violation on August 7, 2007, for property maintenance, overgrowth, insufficient storage of items, etc. The bank was given 21 days to comply after which time another property inspection would be done.

Although not on the agenda, Gwen did report that she has been in contact with Attorney John Soileau requesting he prepare the proxy needed for owners to vote to amend the documents to an 80 percent age 55 / 20 percent age 45 residency, with no resident allowed under the age of 18 years of age. She stated an affirmative vote of 62 of the 92 owners will be needed to pass this amendment. The proxy will be mailed to owners upon receipt.

6. NEW BUSINESS:

1.) Sunkraft Electric/Fire Marshall Inspection: Betty stated that the Board has been very busy handling compliance issues directed by the Fire Marshall. The exit signs required rewiring; new extinguishers had to be purchased. Betty motioned to have the Sunkraft Electric expenses totaling $2,436 dollars be taken from the Deferred Maintenance Reserve account. Larry seconded the motion. All were in favor.

Betty further stated that Sunkraft Electric was also called to service the air conditioner in unit B209. This owner has asked the Association for assistance in paying for this repair. An explanation of the repair by Sunkraft Electric was requested and received. After consulting with Management, it is believed the Association does have some responsibility for the repair because the electrician could not access the a/c wiring servicing this unit because the conduit the wires run through was filled with roofing debris. Betty motioned to have the cost for this repair, the sum of $875.72 dollars, be split with the owner and IVCA’s portion be taken from Roofing reserves. Gwen seconded the motion. All were in favor.

2.) Swimming Pool Chlorinator: Betty stated the pool pump was leaking and had to be rebuilt. In addition, the pool chlorinator did not meet Brevard County Environmental Services code requirements and had to be replaced. Betty motioned to have these expenses, the sum of $1,448.25 dollars, be taken from the Deferred Maintenance Reserve account. Gwen seconded the motion. All were in favor.

3.) BBQ Grills: Betty reminded owners that only electric grills are permissible on the porches/balconies. Gas grills can only be used 10ft away from any permanent dwelling and cannot be stored in the owner’s unit.

7. COMMITTEE REPORTS:

1.) Maintenance: Don Williams reported that the tennis court has been painted, the bridge has been treated with a waterproofing product, the rec room wall has been painted and he has blocked off 3 more scuppers in the “F” building due to leaks reported by owners.

2.) Social: Madeline Figas reported there were no social activities planned at this time. Gwen suggested they consider a Halloween or Oktoberfest event.

8. UNIT SALES/APPROVALS

A107 has been sold to Madeline Figas. Her previous unit, A203, is For Sale.

C219 sold to Bob and Martha Shuford.

9. OWNER FORUM:

Karen Auth (A108) commented that she looked forward to the concrete repairs and painting of buildings A & B and thanked the Board for their efforts toward this goal.

Before closing the meeting, Betty informed all present that there will be Board positions available and the Board is looking for volunteers to serve. Mitize stated there will be 5 open positions. In addition, a Budget Committee has been established. Karen Auth (Unit A108) has volunteered and Betty planned to ask Lynn Carter (Unit C222) if she would want to volunteer.

10. SET NEXT MEETING DATE:

The next scheduled Board meeting will be held Tuesday, October 9th at 7:00 p.m. Betty asked Board members if they would be willing to attend a special meeting to approve contracts, if needed. Sid Shipley stated it would have to be an afternoon meeting.

11. ADJOURNMENT:

There being no other business, the meeting was adjourned at 8:00 p.m.

Karen M. Auth #28323 __________________________

Karen M. Auth Approved by Betty Gaulin

Reconcilable Differences, Inc. IVCA Board President

DRAFT

MINUTES OF THE ISLAND VILLAGE CONDOMINIUM ASSOCIATION

PROPOSED BUDGET MEETING

HELD MONDAY, OCTOBER 15, 2007

Call to Order:

The meeting was called to order by Betty Gaulin at 7:00 p.m.

Establish Quorum of Directors:

Betty Gaulin-President, Gwen Eifler-Vice President. Mitzie Rose-Treasurer, Madeline Figas-Director, Steve Gaulin-Director, Larry Haymes-Director, Mary Touris-Director and Sid Shipley-Director. Kathy Watts represented Reconcilable Differences and 3 residents attended. Karen Auth represented the Budget Committee.

New Business:

Budget Proposal:

Karen Auth reviewed the Proposed 2008 Budget and stated she felt the Budget Committee needed to have a complete picture of the reserves. Michelle Dugan presented the Board with a Proposed 2008 Budget. The options were:

1.) Fully fund reserves budget for 2008 with one bedroom unit monthly fees being raised to $331.17, two bedroom units at $410.68 and three bedroom units at $495.47 per month.

2.) Partially fund reserves: Fund for one whole roof needed in 2008, and fund only enough in paint and concrete to cover the repairs needed next year. This option would cost one bedroom units $246.88, two bedroom units $306.14 and three bedroom units $369.35 per month.

3.) Fully fund reserve with a special assessment for one roof, with one bedroom unit monthly fees being raised to $257.29, two bedroom units at $319.06 and three bedroom units at $384.94 per month, ALONG with a SPECIAL ASSESSMENT of $603.70 per one bedroom, $748.64 per 2 bedroom and $903.21 per 3 bedroom unit.

4.) The fourth option was to partially fund the reserves and decrease the one bedroom units to $214.61, two bedroom units to $266.13 and three bedroom units at $321.08 per month, ALONG with a SPECIAL ASSESSMENT of $603.70 per one bedroom, $748.64 per 2 bedroom and $903.21 per 3 bedroom unit.

Betty Gaulin stated no one, including herself, liked special assessments and that they should be used for emergencies; but funding the reserves is important for maintaining property values.

Larry Haynes stated that partially funding in previous years may have contributed to current problems.

Karen Auth felt they’re starting to get back up to where they should be.

Karen Auth, as the Budget Committee Chairperson, felt option 3 would be the best choice to send along with option 1 to the owners.

Betty Gaulin explained that the Board MUST present a “fully-funded reserves” budget, but can offer options for owners to vote on.

Sid Shipley made a motion to send one other option, besides the fully funded (option 1) to the residents to decide. Mitzie Rose seconded the motion and it passed by unanimous voice vote.

Gwen Eifler made a motion to present Options 1 and 2. Mary Touris and Larry Haymes seconded the motion and it passed by majority voice vote with Mitzie Rose opposed.

Betty Gaulin presented the bids for masonry and painting for bldgs. A & B. It was felt it might be practical to have one company do all the work. Bonner Coatings price came in at $47,605 to do both the masonry and the painting for both A & B. Mitzie Rose made a motion to accept the bid from Bonner Coating for the cost of $47,605. Gwen Eifler seconded the motion and it passed by unanimous voice vote.

Betty Gaulin brought up the issue of replacing the air conditioner on the roof for the clubhouse with $1065 from deferred maintenance. After polling the Board members by phone, the issue just needs to be ratified.

Betty Gaulin made a motion to ratify the previous discussion, replacing the air conditioning unit on the roof for the clubhouse with $1065 from Deferred Maintenance. Madeline Figas seconded the motion and it passed by unanimous voice vote.

Gwen Eifler wanted to advise residents to only get a new air conditioner if they really had to and to possibly get a seconded opinion.

Owner Forum: None

Next Meeting Date Set: The next Board meeting is scheduled for November 13, 2007 at 7:00pm. This will be the Budget Approval meeting, so all owners will receive the proposed budget and an agenda so that they may ask questions before the Board finalizes the 2008 budget.

Adjournment:

There being no further business, the meeting adjourned at 8:00 p.m.

Respectfully Submitted,

Kathy Watts, LCAM #27668

Community Association Manager

Reconcilable Differences, Inc.

MINUTES OF THE ISLAND VILLAGE CONDOMINIUM ASSOCIATION

PROPOSED 2008 BUDGET MEETING

HELD TUESDAY, OCTOBER 09, 2007

1. Call to Order:

The meeting was called to order by Betty Gaulin at 7:00 p.m.

2. Establish Quorum of Directors:

Betty Gaulin-President, Gwen Eifler-Vice President. Mitzie Rose-Treasurer, Madeline Figas-Director, Steve Gaulin-Director, Larry Haymes-Director and Mary Touris-Director. Sid Shipley-Director was not able to attend and Secretary Isabelle Gentile resigned. Michelle Dugan and Kathy Watts represented Reconcilable Differences and ten residents attended.

3. Approval of Minutes:

September 11, 2007: Gwen Eifler motioned to approve the minutes of the September 11th Board meeting as written.

Mary Touris seconded the motion and the motion passes by unanimous voice vote.

September 24, 2007: Gwen Eifler motioned to approve the minutes of the September 24th Board meeting as written.

Mary Touris seconded the motion and the motion passes by unanimous voice vote.

4. Financial Report:

Mitzie Rose presented the financial report and stated that with one CD maturing, there are sufficient funds for the roof replacements. Michelle Dugan added that expenses are matching income at this time.

5. Unfinished Business:

Roof Replacement Update: The Board approved one new roof, “E”, at the September 24th meeting. Soon after, a problem was found on “B” roof which requires either expensive repairs or a new roof immediately. John Shafer Roofing agreed to a discount of about $6,000 if both roofs were completed at the same time. Board members were telephonically polled on their opinions and agreed that both roofs are in bad shape and need replacement. The cost for the 2 Dura-Last roofs (B & E), including AC stands, scuppers and gutters would be $135,294. Larry Haymes made a motion to ratify the Board decision to replace BOTH roofs in 2007. Mitzie Rose seconded the motion and it passed by unanimous voice vote. Larry also stated that a representative of the Dura-Last company will be on site until the project is finished. The project is also eligible for a rebate program that will save an additional $4K and once the roofs are complete the insurance mitigation forms will be filled out in the hopes of saving on insurance premiums in 2008. A leak was found in building F and it was determined this needs to be the next building roof replaced.

Masonry Repairs on A/B Buildings: It was determined that more information is needed in order to compare bids properly. Ryan Bonner from Bonner Coatings will meet with management and the Board next Monday to clarify his bid. Management placed a call to Mike’s Masonry to ensure he will honor his bid from April. The other bid was 75% higher and will not be considered

Painting A & B Buildings: Three bids have been submitted and total costs for repairs and painting range from $47,000 to $50,000. Gwen Eifler made a motion to spend no more than $50,000 total for painting and masonry repairs on buildings A & B from Painting and Deferred Maintenance Reserves. The contractor(s) will be determined at a later date. Betty Gaulin seconded the motion and it passed by unanimous voice vote.

6. New Business:

Brevard County Storm Water claims the drainage easement between IVCA and Hidden Glen is IVCA’s responsibility. The area appears to be deteriorating and a section of a lot in Carlton Groves is sinking. Brevard County Roads & Bridges stated that if these pipes are metal, we were lucky they lasted this long and suggested they be replaced with cement pipes which would be quite expensive. RDI will call contractors to see exactly what needs to be repaired. The drain pipe runs from the IVCA pond and empties into the storm ditch to the west of Carlton Groves. Questions arose about Hidden Glen being somewhat responsible since they ran heavy equipment over the area, moved dirt into berms and planted large trees. Don Williams was asked if the previous problem was in the same area. It was not; that problem was on IVCA property where the drain grate can be seen on the south side of “C” building

7. Budget Proposal:

Michelle Dugan presented the Board with a Proposed 2008 Budget. She stated that based on other commercial policies written recently, we expect a 7% discount on insurance premiums next year. She explained that the Board MUST present a “fully-funded reserves” budget, but can offer options for owners to vote on. The options were:

a.) Fully fund reserves budget for 2008 with one bedroom unit’s monthly fees being raised to $331.17, two bedroom units to $410.68 and three bedroom units to $495.47 per month.

b.) Partially fund reserves: Fund for one whole roof needed in 2008, and fund only enough in paint and concrete to cover the repairs needed next year. This option would cost one bedroom units $246.88, two bedroom units $306.14 and three bedroom units $369.35.

c.) The third option was requested by the Budget Committee: Special Assessing for the roof. Michelle misunderstood them and budgeted partial reserve funding as well, so that would have decreased the one bedroom units to $214.61, two bedroom units to $266.13 and three bedroom units at $321.08 per month, along with a SPECIAL ASSESSMENT of $of $603.70 per one bedroom, $748.64 per 2 bedroom and $903.21 per 3 bedroom unit..

Discussion ensued about funding for a whole roof in one year. More discussion ensued about Special Assessing for the one roof in 2008 but fully funding all other line items. There will be one more roof needed in 2009. That 4th option was put into question and the Board determined they would need to have another meeting to review all options. Michelle will compile this information before the meeting, which the Board agreed would be held next Monday, October 15th at 7pm in the clubhouse.

8. Committee Reports:

Maintenance: Don Williams stated all ceilings on the porches will be painted the same color and that all hooks will be removed. Betty Gaulin formally thanked Don Williams for all his hard work.

Social – Jacquie Allen / Madeline Figas: Madeline didn’t have anything to report at this time. Betty Gaulin suggested a social for the beginning of December.

9. Unit Sale Approvals: None at this time.

10. Owner Forum: It was stated residents from buildings A & B will need to park elsewhere while repairs are being made.

11. Next Meeting Date Set: The next Board meeting is scheduled for November 13, 2007 at 7:00pm. This will be the Budget Approval meeting, so all owners will receive the proposed budget and an agenda so that they may ask questions before the Board finalizes the 2008 budget.

12. Adjournment:

There being no further business, the meeting adjourned at 8:15 p.m.

Respectfully Submitted,

Kathy Watts, LCAM #27668

Community Association Manager

Reconcilable Differences, Inc.

ISLAND VILLAGE CONDOMINIUM ASSOCIATION, INC.

2135 N. Courtenay Pkwy, Merritt Island, FL

Board of Directors Meeting

held TUESDAY, September 11, 2007

CALL TO ORDER / PROOF OF NOTICE:

The meeting was called to order at 7:00 p.m. in the recreation room. Notice of this meeting was posted on the clubhouse door more than 48 hours in advance of the meeting.

ROLL CALL / QUORUM ESTABLISHED:

APPROVAL OF MINUTES FROM JULY 17TH MEETING:

Gwen Eifler motioned to approve the minutes of the July 17^th meeting as distributed to all residents. Madeline Figas seconded, all in favor.

FINANCIAL REPORT:

Mitzie reported that 2 Certificates of Deposit (CD) have matured since the last meeting and the Association has another CD maturing on September 29^th. The Coastal Bank CD was renewed for 6 months at an annual percentage yield of 5.41 and will mature in February of 2008. The proceeds from the CD maturing at Fidelity were placed in the Fidelity Money Market Account. Gwen stated a decision will be made on what to do with the funds from CD maturing on September 29^th within a couple of weeks. Mitzie closed this report by stating the Association has approximately $121,569 dollars liquid money that can be used when needed.

UNFINISHED BUSINESS:

1.) Roofing Engineer: Betty stated the roofing engineering report has been received by the Association and she made it available for others to review. The Engineering firm is recommending a modified bitumen torchdown roof system. She has spoken to Shaeffer roofing who had submitted a bid for the Durolast roofing system,but they do not install this types of roof. Shaeffer did rework his estimate to include some of the engineers recommendations. She has also spoken to Winebarger Roofing and plans to meet with them. She summarized quotes received to date: JAG (torchdown) $76,000 {incomplete bid}, Alamar (torchdown) $91,000, Alamar (Durolast) $80,867, Shaeffer (Durolast) $73,807. These bids are still being fine tuned for comparison.

2.) Concrete Restoration in “A” & “B” Buildings: Betty stated the Association has received two quotes for concrete repairs. Christine is following up with JAG on the quote they promised. Betty has made contact with another company and they have promised to have information to the Board next week. Betty also stated the Board has received one quote for the painting of the A & B buildings.

3.) Abandoned building/lot South of Island Village status: Owner, Mickey Phaneuf, stated the property was bought by the bank at Auction and they are simply going to try to sell it. Christine noted that she is following up with Al Yorkston, from Commissioner Nelson’s office. According to Mr. Yorkston, the bank was given a notice of violation on August 7, 2007, for property maintenance, overgrowth, insufficient storage of items, etc. The bank was given 21 days to comply after which time another property inspection would be done.

NEW BUSINESS:

1.) Sunkraft Electric/Fire Marshall Inspection: Betty stated that the Board has been very busy handling compliance issues directed by the Fire Marshall. The exit signs required rewiring; new extinguishers had to be purchased. Betty motioned to have the Sunkraft Electric expenses totaling $2,436 dollars be taken from the Deferred Maintenance Reserve account. Larry seconded the motion. All were in favor.

Betty further stated that Sunkraft Electric was also called to service the air conditioner in unit B209. This owner has asked the Association for assistance in paying for this repair. An explanation of the repair by Sunkraft Electric was requested and received. After consulting with Management, it is believed the Association does have some responsibility for the repair because the electrician could not access the a/c wiring servicing this unit because the conduit the wires run through was filled with roofing debris. Betty motioned to have the cost for this repair, the sum of $875.72 dollars, be split with the owner and IVCA’s portion be taken from Roofing reserves. Gwen seconded the motion. All were in favor.

2.) Swimming Pool Chlorinator: Betty stated the pool pump was leaking and had to be rebuilt. In addition, the pool chlorinator did not meet Brevard County Environmental Services code requirements and had to be replaced. Betty motioned to have these expenses, the sum of $1,448.25 dollars, be taken from the Deferred Maintenance Reserve account. Gwen seconded the motion. All were in favor.

3.) BBQ Grills: Betty reminded owners that only electric grills are permissible on the porches/balconies. Gas grills can only be used 10ft away from any permanent dwelling and cannot be stored in the owner’s unit.

COMMITTEE REPORTS:

1.) Maintenance: Don Williams reported that the tennis court has been painted, the bridge has been treated with a waterproofing product, the rec room wall has been painted and he has blocked off 3 more scuppers in the “F” building due to leaks reported by owners.

2.) Social: Madeline Figas reported there were no social activities planned at this time. Gwen suggested they consider a Halloween or Oktoberfest event.

UNIT SALES/APPROVALS

1.) A107 has been sold to Madeline Figas. Her previous unit, A203, is For Sale.

2.) C219 sold to Bob and Martha Shuford.

OWNER FORUM:

Karen Auth (A108) commented that she looked forward to the concrete repairs and painting of buildings A & B and thanked the Board for their efforts toward this goal.

Before closing the meeting, Betty informed all present that there will be Board positions available and the Board is looking for volunteers to serve. Mitize stated there will be 5 open positions. In addition, a Budget Committee has been established. Karen Auth (Unit A108) has volunteered and Betty planned to ask Lynn Carter (Unit C222) if she would want to volunteer.

SET NEXT MEETING DATE:

ADJOURNMENT:

There being no other business, the meeting was adjourned at 8:00 p.m.

Karen M. Auth #28323 __________________________

Karen M. Auth Approved by Betty Gaulin

Reconcilable Differences, Inc. IVCA Board President

ISLAND VILLAGE CONDOMINIUM ASSOCIATION, INC.

2135 N. Courtenay Pkwy, Merritt Island, FL

Special Members Meeting on a Special Assessment

Held Tuesday, July 17, 2007

CALL TO ORDER / PROOF OF NOTICE:

The meeting was called to order at 7:00 p.m. in the Island Village Recreation Room.

ROLL CALL / QUORUM ESTABLISHED:

Board Members present: President Betty Gaulin, VP Gwen Eifler, Treasurer Mitzie Rose and Directors Madeline Figas, Steve Gaulin, Larry Haymes, Sid Shipley and Mary Touris. Isabelle Gentile was not present.

ESTABLISHMENT OF MEMBERS PRESENT:

Twenty owners attended. Martin Andreasen and Michelle Dugan from Reconcilable Differences, Inc. and Guest Colette Andreasen attended.

APPROVAL OF MINUTES FROM JUNE 12TH MEETING:

One correction was made to the minutes of the June 12, 2007 meeting. Sid Shipley had seconded the motion to approve the minutes instead of Mitzie Rose. Motion was made by Betty Gaulin to accept the minutes with the change noted. This was seconded by Gwen Eifler; all were in favor.

FINANCIAL REPORT:

Michelle Dugan reported on the financial status of the Association as of June 30, 2007. The operating account balance was reported as $18,007 dollars and a Reserve balance of $248,743 dollars. A breakdown of the reserve balance was reported as follows: Painting - $49,400 dollars, Paving $14,400 dollars, Roof Reserves $85,850 dollars and Deferred Maintenance Reserves $99,093 dollars.

Michelle further explained that expenses incurred not on an annual basis could be taken from the Deferred Maintenance Reserve Account but that would require Board approval. The profit and loss year to date reflected approximately $10,000 over budget primarily in the insurance, payroll for onsite maintenance and the maintenance expense accounts. Utilities have been under budget so that offset the total some. There is one account in arrears greater than 60 days. Late fees have been assessed.

DISCUSSION OF COSTS TO BE ASSESSED:

Prior to proceeding on this subject matter; Betty requested time to address some of the rumors heard regarding next year’s monthly assessment amount and insurance. With regard to next year’s assessment, Betty assured members the Board has not even begun to evaluate next year’s budget but would be doing so in the September/October timeframe. On the insurance matter, an owner had suggested the Association not purchase insurance. Michelle remarked that the governing documents of the Association and Florida Statute require the board to insure the property. The Association does not have the income to pay for a total loss. Should a catastrophic loss occur and complete rebuilding is necessary the Association would be obligated to a 5% deductible or $493,000.00 dollars. The Board’s decision to go with a 5% deductible had substantial premium savings for the Association. Mitzie stated the savings was approximately $49,000 dollars in the total premium amount.

Betty proceeded in discussing the costs to be assessed. Insurance was budgeted at $65,000 dollars. The actual premium was $109,907.86 dollars. By years end the Association will be over budget by $26,853.51 dollars. A down payment was made at 20% of the total amount of the insurance premium and monthly payments are being made including a 7% interest charge. Citizens Insurance requires full payment up front so that is why the financing is being done. In addition, the payroll expense is anticipated to be $7,500 dollars over budget and the maintenance costs are anticipated to be $6,500 dollars over budget. Michelle reminded owners that in addition to the recently approved increase in salary for onsite maintenance, this position is now an employee position and no longer an independent contractor position and therefore the Association is obligated to pay social security, Medicare, and workers compensation benefits. The Board sought an attorney opinion on this matter last year and the attorney recommended hiring as an employee otherwise the Association would be vulnerable to liability suits should an on the job injury occur. Michelle acknowledged that some of the costs associated with maintaining the property, like the installation of the new bridge and tennis court repairs, could actually be taken out of the deferred maintenance reserve account if the Board chose to do this.

OWNER FORUM:

Several owners expressed concern over the need to special assess for the payroll and maintenance overruns believing those expenses were not day to day operating expenses but expenses which should be funded by the deferred maintenance reserve account. Another owner commented on how well she believes the Board has run the Association. There has only been one small assessment in the long history she has been living at Island Village and she was extremely pleased with the actions of the Board thus far and very appreciative of all the work Don Williams does for the Association.

APPROVAL AND ADOPTION OF SPECIAL ASSESSMENT:

Mitzie motioned to approve a special assessment for the insurance and payroll expenses that were under- budgeted. This motion was seconded by Gwen. While one member wished to abstain, management stated that unless there was a conflict of interest that he was directly a party to, he must vote either nay or yea. All were in favor. Motion carried. The special assessment amounts were announced as follows:

· 1 Bedroom Units $298.00

· 2 Bedroom Units $370.00

· 3 Bedroom Units $445.00

Betty motioned to have some of the past expenses not attributed to day to day operating expenses, a total expense of $4,932.21 dollars, paid out of the deferred maintenance reserve account off setting some of the anticipated overrun in the maintenance account for the year.

This amount includes the following:

· Masonry work done on the clubhouse, $544.

· Tennis court maintenance (grinder/paint), $747.04.

· New fire extinguishers on the second floors, as required by the fire marshal, $660.84.

· The cost to ground the pool electric, $736.73.

· Construction of the new bridge, $1168.60.

· Replacement of wiring for lights around the pool, $1,075.00.

Mary Touris seconded the motion. All were in favor.

DISCUSSION OF PAYMENT PLAN OPTIONS:

The Board agreed to give owners an option of paying the special assessment in full on September 1^st, 2007 or in three payments with the first payment due on September 1^st and subsequent payments due on October 1^st and November 1^st respectively. Management will send out the notice regarding the special assessment and payment options.

UPDATES:

A) Roofing “E” Building

Marty stated he is expecting a bid from another contractor on the roof for E building. As the Board had expressed interest in hiring an engineer to evaluate the requirements for a roof for Building E, he has also submitted proposals to the Board on costs for this work. Owner John Allen remarked that last year the Board was very positive about a decision to hire engineers to assist the Board in making the right decision on major cost expenditures such as roof replacement. Mitzie concurred and motioned to hire an independent engineer to evaluate the building “E” roof and make recommendations to the Board. Madeline seconded the motion; Sid Shipley opposed; all other Board members were in favor. Motion carried.

B) Concrete Restoration

Marty stated he was anticipating receipt of another bid from JAG Enterprises on the concrete repairs needed for buildings A & B soon.

ADJOURNMENT:

There being no other business, the meeting was adjourned at 8:15 p.m.

__________________________

Approved by Betty Gaulin

IVCA Board President

ISLAND VILLAGE CONDOMINIUM ASSOCIATION, INC.

2135 N. Courtenay Pkwy, Merritt Island, FL

Board of Directors Meeting

held TUESDAY, June 12, 2007

1. CALL TO ORDER / PROOF OF NOTICE:

The meeting was called to order at 7:15 p.m. in the recreation room. Notice of this meeting was posted on the clubhouse door more than 48 hours in advance of the meeting.

2. ROLL CALL / QUORUM ESTABLISHED:

Board Members Present: President Betty Gaulin, Vice President Gwen Eifler, Secretary Isabelle Gentile, Treasurer Mitzie Rose, and Directors Madeline Figas, Steve Gaulin, Larry Haymes, Mary Touris and Sid Shipley. Martin Andreasen, manager, and residents Don Williams, Mickey Phaneuf, Karen Auth, George Touris, Donna Whaley, Jacqueline & John Allen attended.

Introduction of Mr. Al Yorston, Commissioner’s Aide, to address board on situation of abandoned building South of IV. Mr. Yorston stated that he viewed the property in question and will be pulling permits on this property. Mr. Yorston explained the procedure to begin the process of getting this area cleaned up. Mr. Yorston said he would have this information this week and forward the information to Martin Andreasen. Meantime, it is noted that a public auction dated for June 28^th of 2007 is posted on this property.

3. APPROVAL OF MINUTES FROM MAY 8th MEETING:

Gwen Eifler motioned to approve the minutes of the May 8th meeting as distributed to all residents. Mitzie Rose seconded, all in favor.

4. FINANCIAL REPORT:

Mitzie Rose read the financial report and reported that there is $23,272.12 in the operating account. 3 CDs are in place. Sunrise Bank $50,433.77 at 5.159%, Coastal with at maturity date of Sept. 1, 2007 in the amount of $50,000.00 and Fidelity $50,504.52 with a maturity date of Aug 12, 2007. There are two Money Market accounts: One at Colonial Bank with a balance of $39,333.20 and one at Fidelity Bank with a balance of $48,709.26 and a rate of 3.44%. $40,000.00 was recently transferred out of this account to start another CD, leaving a balance of $8,709.26.

The Association is currently over budget by $7,021.95. This was caused in part by insurance, maintenance man David’s increase, and maintenance supplies. Board is working with Management on an amount that would be assessed should there be a vote for a special assessment.

The operating account shows $12,721.80 in unit owner pre-paid assessments. There is only $7.00 owed to the Association as of May 31^st, due to an underpayment of the monthly fee by one unit owner.

5. UNFINISHED BUSINESS:

a.) Insurance: Insurance down payment in the amount of $27,476.97 has been made with a balance of $82,430.89 to be paid over the next 10 months.

b) Concrete Restoration in “A” & “B” Buildings: Larry Haymes is still obtaining quotes. Mike’s Masonry has submitted his updated quote. Cosmopolitan Contractors Inc. was also requested to bid on the Concrete Restoration of “A” and “B” building along with a bid on Roof restoration of Building “E”. Larry Haymes also stated that there was another bidder, but he has not shown up as of this date. Betty is also working with 2 other contractors on bids and information concerning the permitting process with the County. Having an Engineer involved in this project was discussed and tabled till more information on cost could be established.

c) “55” Rule- On ballots returned, 35 were in favor of changing the documents to an “80-20” rule and 24 were opposed. This was an informal ballot. Gwen made a motion to have a formal ballot sent to the owners with an explanation of why they are requesting this change. Larry Haymes seconded the motion. All in favor with the exception of Sid Shipley who was opposed. Motioned carried. Manager will prepare a draft for Board and attorney to approve.

6. NEW BUSINESS:

Unit D233 Update: Martin spoke with Mr. Richard Georg, owner of unit, and Mr. Georg’s son Richard Jr, who is living in the unit. Gwen Eifler made a motion to start the process to have Mr. Richard Georg Jr. vacate the unit. He will be given thirty days to vacate. Betty seconded the motion. All in favor. Manager will send a certified letter to this effect.

Pool update-Manager stated that a county pool inspector said that four feet from the edge of the pool is considered a “wet area”. Areas further away from the pool may be designated as an area for food and drink. Martin has requested this in writing.

7. Committee Reports:

a) Maintenance: Don Williams reported that they have purchased 6 gals of “white paint” to paint the deck.

b) Social: Madeline Figas scheduled a picnic for June 23^rd from 4-6 pm. Reservations should be placed by June 20^th. Pork loins and hot dogs will be served. $4.00 per person. Flyers are being posted.

8. Unit Sales Approvals:

a) New Rental in C-122: Ann Peterson 453-0789 or cell 298-4006.

b) New Owner in A-208: Maria Taylor phone # 352-502-1648.

9. PHONE DIRECTORY UPDATES:

a) New renter C 122 Ann Peterson 453-0789

b) Owner Maria Taylor A208 352-502-1648.

c) E-mail addresses are so very helpful in keeping costs down for providing minutes for seasonal residents.

10. OWNER FORUM:

Karen Auth questioned an odor coming from the unit above hers. Unit above is remodeling bathroom and the glaze used was coming into Karen’s unit. Larry Haymes explained how the odor was getting into her unit through the air-conditioner piping, but stated once the glaze is dried the odor would no longer be a problem.

11. SET NEXT MEETING DATE:

The next scheduled Board meeting will be held Tuesday, Sept. 11th at 7:00 p.m.

12. ADJOURNMENT:

There being no other business, the meeting was adjourned at 8:23 p.m.

Martin J. Andreasen __________________________

Martin J. Andreasen LCAM #29711 Approved by Betty Gaulin

Reconcilable Differences, Inc. IVCA Board President

ISLAND VILLAGE CONDOMINIUM ASSOCIATION, INC.

2135 N. Courtenay Pkwy, Merritt Island, FL

Special Board of Directors Meeting

held Monday, MAY 21st, 2007

1. CALL TO ORDER / PROOF OF NOTICE:

The meeting was called to order at 6:30 p.m. in the recreation room. Notice of this meeting was posted on the clubhouse door more than 48 hours in advance of the meeting.

2. ROLL CALL / QUORUM ESTABLISHED:

3. APPROVAL OF MINUTES FROM March 13 MEETING: No Minutes read.

4. FINANCIAL REPORT: No financial report.

5. SPECIAL BUSINESS - Insurance:

Josh Ranew from Ranew Insurance Agency spoke about the insurance quote he had presented. Josh explained to the Board members present the different policies that were quoted. Property-Citizens, DIC-Columbia Casualty, General Liability-Columbia Casualty, Crime-Hartford, Directors & Officers-Illinois National, and the Umbrella-Zurich.

Josh explained the process of mitigation points and assured members that they got all the credit that could be found and used. He also explained deductibles of calendar year vs. occurrence. Members agreed that Calendar was the best typed policy. Members were also given the option of 3% of value of the building deductible vs. 5% deductible.

After members had a questions and answers period and the chance to discuss their concerns, the following motion was made:

Motion made by Steve Gaulin to accept the 5% deductible policy of $98,325.00 for property and wind insurance, along with $11,582.86 for the Directors and Officers, Crime, Liability and Differences in Conditions Insurance, Umbrella for a total annual cost of $109,000.00. Motion was seconded by Mary Touris. All in favor were Mitzie Rose, Betty Gaulin, Gwen Eifler, Madeline Figas, Isabelle Gentile, Sidney Shipley, Mary Touris. Steve Gaulin and Larry Haymes left room before the vote was taken.

Paperwork was signed and the documents were picked up by Josh Ranew.

6. ADJOURNMENT:

There being no other business, the meeting was adjourned at 7:40 PM

Martin J Andreasen, LCAM #29711

Reconcilable Differences, Inc.

Special Notice:

Interior Pest Control will be done on the 29^th instead of 25th

ISLAND VILLAGE CONDOMINIUM ASSOCIATION, INC.

2135 N. Courtenay Pkwy, Merritt Island, FL

Board of Directors Meeting

held TUESDAY, MAY 8, 2007

1. CALL TO ORDER / PROOF OF NOTICE:

The meeting was called to order at 7:15 p.m. in the recreation room. Notice of this meeting was posted on the clubhouse door more than 48 hours in advance of the meeting.

2. ROLL CALL / QUORUM ESTABLISHED:

Board Members Present: President Betty Gaulin, Vice President Gwen Eifler, Secretary Isabelle Gentile, Treasurer Mitzie Rose, and Directors Madeline Figas, Steve Gaulin, Larry Haymes, Mary Touris and Sid Shipley. Martin Andreasen, manager, and residents Don Williams, Richard Hall, Mickey Phaneuf, Karen Auth, George Touris, Donna Whaley, Jacqueline & John Allen attended.

3. APPROVAL OF MINUTES FROM April 10th MEETING:

Betty Gaulin motioned to approve the minutes of the April 10^th meeting as distributed to all residents. Gwen Eifler seconded, all in favor.

4. FINANCIAL REPORT:

Manager reported that as of April 30, 2007, there was $34,387.82 in the operating account and a total of $236,604.94 in the Reserve accounts. There was also $12,106.60 in pre-paid accounts which, if subtracted from the operating account, would leave an actual operating fund of $22,281.22.

Mitzie Rose reported that the Reserve funds are in a number of CD’s and Money Market funds at various banks: At Sunrise Bank we have $50,219.97 in a CD paying 5.3%. At Coastal Bank we also have a $50,000.00 CD. At Colonial, the money market balance is $37,167.25 and at Fidelity Bank, the money market has $28,713.20, along with 2 CD’s; one at $20,000 and one at $50,504.52.

5. UNFINISHED BUSINESS:

a) Concrete Restoration in “A” & “B” Buildings: Larry Haymes is still obtaining quotes. Mike’s Masonry has submitted his updated quote.

b) Insurance: Drew Wasdin from Brown & Brown Inc. gave his presentation prior the beginning of the board meeting. During the presentation questions were asked and answered by Mr. Wasdin. After the presentation Marty said that he would create a spread sheet of the 3 insurance companies bidding, with a breakdown of policies and premiums as presented by the insurance companies. Due to the deadline for obtaining insurance, Marty said he would get the information to the board on 5/11/07 for their review. Resident accountant Richard Hall discussed several options for paying the premiums: Financing - All of the insurance companies offer a financing program. Brown & Brown’s interest rate is 7.18%, Ranew offered 7% and AmSouth’s rate is 7.5%. An assessment was also discussed, as was having owners vote to use Reserve Funds. This item was tabled while more information is obtained.

Over 55 rule: Mitzie reported that to date, 54 votes have been sent in. Thirty-two were in favor of the change and twenty-two were opposed. Mitzie made arrangements for a gentleman from the Fair Housing Office to speak to unit owners and other interested parties at a meeting on May 22, 2007 at 4:30 pm. All are welcome to attend.

6. NEW BUSINESS:

Raise for David: The subject of the maintenance man’s request for a raise in pay was discussed. Gwen Eifler motioned to give David a $2.00 per hour raise. This was seconded by Madeline Figas, all in favor. Motioned carried by majority.

Landscaping: Marty, Michelle Dugan and Chuck Garrison walked the grounds last week. Several suggestions were made: Making a 10” border around the buildings using approximately 20 yards of red mulch at $42 per yard would cost $840. Closing in the diameters around the trees would require a pallet of sod at a cost of $250.00 installed. Marty stated that Chuck was very sincere when he stated that he wanted to do a good job at Island Village, that he had been the landscaper here for many years and felt this was his “showcase” model. It is the opinion of Michelle and Marty of RDI that Chuck will do everything he can to keep the grounds well groomed at Island Village.

7. COMMITTEE REPORTS:

Social: Jacquie Allen and Madeline Figas reported that the suggestion for a summer pool picnic is being considered for the end of June.

Maintenance: Don Williams reported that 2 shut off valves need to be replaced at B111 and D131. He stated that the fence on the tennis court has been painted and looks great. Don & David have used a pickup truck to straighten all the fence posts around the entire perimeter. Tile on the pool is still an issue. Lights at the entryway and pool lights flicker on and off. Sunkraft Electric is involved in solving the problem.

8. UNIT SALE APPROVALS (SALES PENDING):

No sales are currently pending. Mitzie stated that 10 units are currently for sale.

9. PHONE DIRECTORY UPDATES:

a) New renter C 223 Sharon Willits 561-307-9669

b) Correction F244 Area code is 423

c) E-mail addresses are so very helpful in keeping costs down for providing minutes for seasonal residents.

10. OWNER FORUM:

There was a suggestion to rent the tennis court out. There was discussion about liability, so the subject was tabled.

A check in the amount of $35.00 was given as a donation to the IVCA recreation committee from Alpha Delta Kappa Fidelis Pi Sorority. Their meetings have been held in the recreation room under the direction of resident member Jacqueline Allen. The donation was very much appreciated by the IVCA committee.

The issue of a resident in building “A” moving his car from parking place to parking place instead of using his designated space was discussed. Karen Auth stated that the resident just moves his car several times a day to keep it out of the sun. Karen said it was not a problem. No further action was taken.

It was requested by Betty Gaulin that all residents try not to park over the curb.

Subject of a Yard Sale was discussed. Due to limited parking lot maneuverability and parking spaces the increased traffic could present a problem.

11. SET NEXT MEETING DATE:

The next Board meeting will be held Tuesday, June 12th at 7:00 p.m.

12. ADJOURNMENT:

There being no other business, the meeting was adjourned at 9:00 p.m.

Martin J. Andreasen __________________________

Martin J. Andreasen LCAM #29711 Approved by Betty Gaulin

Reconcilable Differences, Inc. IVCA Board President

ISLAND VILLAGE CONDOMINIUM ASSOCIATION, INC.

2135 N. Courtenay Pkwy, Merritt Island, FL

Board of Directors Meeting

held TUESDAY, APRIL 10, 2007

1. CALL TO ORDER / PROOF OF NOTICE:

The meeting was called to order at 7:00 p.m. in the recreation room. Notice of this meeting was posted on the clubhouse door more than 48 hours in advance of the meeting.

2. ROLL CALL / QUORUM ESTABLISHED:

Board Members Present: President Betty Gaulin, Vice President Gwen Eifler, Secretary Isabelle Gentile, Treasurer Mitzie Rose, and Directors Steve Gaulin and Mary Touris. Directors Madeline Figas, Larry Haymes and Sid Shipley could not attend. Michelle Dugan & Marty Andreasen her new assistant from Reconcilable Differences also attended

3. APPROVAL OF MINUTES FROM March 13 MEETING:

Mitzie motioned to approve the minutes as distributed to all residents. Isabelle Gentile seconded, all in favor.

4. FINANCIAL REPORT:

Manager Michelle Dugan stated that there is $26,345.26 in the Operating Account and $227,044.01 in the Reserve account, broken down into 4 CD’s and 2 money market accounts. There was discussion about interest rates and a new CD for $50K has been opened at Sunrise Bank. Manager stated that year to date the Association is $2218.71 under budget, but this is due to budgeting for the increase in insurance which has not yet come due. There are 2 unit owners in arrears, but one who had not paid 2006 assessments has paid those in full. Overall the association is in good financial condition. Gwen noted that the resident who is willing to prepare the financial review will be on site within the next month and wanted approval from the Board to do this work. Betty motioned to approve Mr. Richard Hall to prepare the 2006 review on a volunteer basis. Gwen seconded, all in favor. Mitzie requested that when seasonal residents leave Island Village for the summer months they should notify a board member or call RDI at 799-0660. It is important that we know which units are vacant in case of fire or storm damage.

5. UNFINISHED BUSINESS:

a) Repair to Rec Room ceiling: A contract was approved and signed with Mike’s Masonry. It was agreed to proceed on repair to the balcony of unit E240 and the ceiling of the rec. room in an attempt to fix the problem of water leakage into the rec. room from the above balcony.

b) Screen Enclosure Skirting Painting: As noted last month, the board agreed to supply the paint so that we have the same sheen and color on all enclosures. Don Williams stated that 20 enclosures are painted and there are 21 more to be done. People are pleased with the quality of David’s work and he charges $40 to prepare and paint the enclosure skirt. If you are interested in hiring David, please notify Don Williams at 454-3328. Checks should be made out to David There was discussion about needing mulch spread 12 inches around the buildings so the landscaper cannot mow too close and throw grass onto the enclosures. Cost was the prohibiting factor for now. Due to issues of weeds, shrub trimming and requests being ignored by the landscaper, management agreed to obtain prices from other companies.

6. NEW BUSINESS:

a) Concrete Restoration on “A” & “B” Buildings: Larry Haymes has agreed to meet with other concrete companies to obtain competitive bids. Mike’s Masonry has re-bid his 18 month old price with only a small increase.

b) Painting Bids for Buildings “A” & “B”: This is on hold until the concrete work is started.

c) Insurance: Marty will meet with Jack Kroening to go over his pricing for the new policy. After discussion about Citizen’s Insurance offering “mitigation credits” for proper roof installations with hurricane tie downs, Mary Touris motioned to pay licensed roofer John Schafer $500 to fill out the forms required. Gwen Eifler seconded the motion, all in favor.

d) Replacement Pool Furniture: Don requested approval to purchase 20 new plastic chairs for the pool deck. He priced them in 3 different stores and felt $300 would cover the cost. After discussion, Steve motioned to allow Don’s best judgment on where to purchase these. Betty seconded, all in favor.

e) “Over-55” Ruling: Mitzie stated that there are 11 units for sale and 3 for rent and all except one are presently unoccupied. Some owners feel the requirement that all units have at least one person over 55 is hindering sales ability. Mitzie recommended lowering the minimum age to 45 following the federal law for senior housing. Last month a one page statement was sent with the minutes describing the federal law. This month you will find a survey attached. Please take time to complete and return it.

7. COMMITTEE REPORTS:

a) Maintenance: Don Williams stated that ½ of the tennis court’s chain link fence has been painted. He requested that we obtain bids from the pool service company to fix the violations that the county pool inspector noted on the last report. The violations about pool tiles being cracked will be a continuous problem with the ground shifting around the pond.

b) Social: Madeline’s report was read by Gwen. Thirty-seven residents attended the St. Patrick’s Day party and all enjoyed it. The 50/50 drawing was won by Betty Huff & Helen Hoates. In the future, if you have made reservations for one of our dinners and find you cannot attend, please call and cancel.

8. UNIT SALE APPROVALS (SALES PENDING): Unit A208 sold for $114,000 to two women, ages 71 and 52. The approval letter was signed by Betty Gaulin and Gwen Eifler after the Board approved.

9. PHONE DIRECTORY UPDATES: A205 McCleese has disconnected their local number but the long distance number is still valid. Again it was reiterated that having accurate phone numbers to reach owners is vital in case of emergencies.

10. OWNER FORUM: A renter who has stored two large items in the storage yard is moving and to date has not responded to our letters to repair or remove his stored items. A second letter will be sent to the owner of the unit as well as the renter and if the rusty trailer and van are not removed by April 25^th, they will be towed.

A resident reminded the board that she has a wall repair that is incomplete after IVCA searched for a leak. David will be asked to make that drywall repair.

11. SET NEXT MEETING DATE: The next Board meeting will be held Tuesday, May 8^th, 2007 at 7:00 p.m.

12. ADJOURNMENT:

There being no other business, the meeting was adjourned at 8:30 p.m.

Respectfully submitted,

____________________

Martin Andreasen, LCAM #29711 Approved by Betty Gaulin

Michelle Dugan, CMCA, LCAM #17226 IVCA President

Reconcilable Differences, Inc.

==================================================

NOTICE:

Fire extinguisher inspection will be on April 28 between 9 and 12 AM in the rec. room. Inspections will be $3 and re-charge is $20.

Every 6 years the fire extinguisher requires a re-charge.

====================================================

REQUESTS FROM IVCA BOARD

If you are a seasonal resident and are leaving your unit for longer than a month, please notify a board member or leave a message on the IVCA answering machine. For the purpose of emergencies, such as fire, storm damage, etc.,we would like to keep track of units that are unoccupied.

Please STOP at the sign at the entrance to the IVC complex and observe the posted speed limit of 10 mph. If you exit through the D building gate, please close and lock the gate as you leave. The safety and security of IVC residents is our community responsibility and can be maintained, in part, by having only one open entrance and exit.

Pool rules are dictated by the county and are posted as a reminder for all that use the pool area. The county has the option of closing the pool if we are not in compliance. Water in a plastic container is the only acceptable drink at poolside, and food is not allowed. The pool gate needs to be locked at all times. In addition, IVCA requests that the umbrellas be lowered and the chairs repositioned after use.

Guests need to be informed of the rules for the complex, including that children under twelve years of age have adult supervision when using facilities or transgressing the common areas.

IVCA SURVEY

Would you like to lower the over 55 age requirement to allow 20% of the units to be occupied by someone 45 or older?

YES_______ NO__________

Would you like to learn more about this from a speaker from local housing authority office?

YES_______ NO_________

Please complete and leave in the office mail slot.

Thank You

ISLAND VILLAGE CONDOMINIUM ASSOCIATION, INC.

2135 N. Courtenay Pkwy, Merritt Island, FL

Board of Directors Meeting

held TUESDAY, MARCH 13, 2007

1. CALL TO ORDER / PROOF OF NOTICE:

The meeting was called to order at 7:00 p.m. in the recreation room. Notice of this meeting was posted on the clubhouse door more than 48 hours in advance of the meeting.

2. ROLL CALL / QUORUM ESTABLISHED:

3. APPROVAL OF MINUTES FROM February 13 MEETING:

Gwen Eifler stated that it is STEVE Hoskins, not Tom, who will be doing the air conditioner cleaning work on March 15th. With this change, Gwen motioned to approve the minutes of the February meeting. Betty seconded, all in favor.

4. FINANCIAL REPORT:

Mitzie reported that last month the Board voted to open 3 $50K CD’s. She did open two of them at Fidelity and Coastal. The third will be opened at Sunrise Bank. Gwen offered to open it. Mitzie, Gwen and Betty will be the signers on these accounts. Mitzie said that regarding the minutes of the last meeting, the Board voted to open a savings account at Colonial but she was under the impression that it would offer 4.75% interest. Manager stated that with $25K, that rate goes into effect, but an account with a zero balance was opened. Once $25K is deposited, a new account will be started.

Manager reported that as of February 28, 2007, the Association is spending less than budgeted by $3,203.00, but that is mainly due to the insurance, which will come due in late May. The insurance agent asked that manager meet with him to go over the benefits of staying with State Farm, but manager stated that 3 bids have been sought; from Brown & Brown, as requested by two owners, from Josh Ranew and from State Farm. Manager will meet with State Farm, but he keeps saying that all three companies will quote the same cost from Citizen’s. The only difference will be in Directors and Officers insurance, the Fidelity Bond and the “Differences in Conditions” premium. Manager hopes to receive all bids by early May.

As for unit accounts that are overdue, one unit has not paid November, December and now February and March. She will receive a final certified letter and if not paid by the end of March, this account will be turned over to the attorney for collections. Per Florida Statute, the Association can lien and foreclose on a unit for non-payment of monthly assessments and all attorney fees incurred due to the collection process are payable by the unit owner.

Betty asked about the audit review that an owner is willing to prepare. Gwen stated that he is not on site right now, but she will ask him about how soon he can have it done.

5. UNFINISHED BUSINESS:

a. Repair to Clubhouse Ceiling/Balcony Above: Betty called Mike’s Masonry to confirm that he will give a two-year guarantee on his work. Steve Gaulin motioned to approve the use of Mike’s Masonry in the repair of the leak from unit E240 down into the rec room, at a cost of $544.00. Madeline seconded the motion. We will ask him for 14 days’ notice of start date so that the unit owner will have enough time to remove all the plants and furniture from her balcony before he starts the work. It was mentioned that if she cannot do it herself, she could pay David to do it. Vote: All in favor.

b. Screen Enclosures: There was discussion about who is responsible for the cost of the paint to repair these first floor screen enclosure skirts that look so faded. Mitzie motioned to have the Association supply the paint to the owners and they can do it themselves or hire it done. Don believes it will take half a gallon of paint per enclosure. If they do not do the work before April 30^th, the Association will have it done and bill the owner for the labor cost. Betty seconded, all in favor.

6. NEW BUSINESS:

a. Concrete Restoration in “A” & “B” Buildings: These buildings were next on the list when the Board approved the work in 2006. The concrete work has to cure before it can be painted. Larry agreed to meet with Mike’s Masonry and ensure that work on the lake side is also included in the price before he starts. Larry is willing to walk through with any contractors and show them what is needed in order to obtain accurate prices. The painters could not hold their prices, so once the concrete work is done, painting bids will be sought.

b. Insurance: As discussed earlier, manager will meet with Jack Kroening and hopes to have three bids by May. Manager stated that any roofs that were properly installed within the last five years can get “mitigation” credits towards their premiums with Citizen’s insurance. Shaefer Roofing put the last roof on and will be asked to fill out the credit forms that management will then forward to the three insurance agents before they quote the premiums.

7. COMMITTEE REPORTS:

a. Maintenance: Don Williams reported that Sunkraft has come out and grounded (bonded) the pumps to meet county guidelines. There was also a light out and Sunkraft repaired that as well today. Since a licensed pool company maintains the pool and the county requires daily readings of the water quality, David will check the chemicals on those days he is here and the pool company is not, and he will write down the numbers in the book the county checks.

The tennis court cement has been renovated. David chipped out the cracks and sealed them. He will paint the fence first and then will paint the tennis deck. Don still feels he is a very good employee.

BellSouth will be meeting Don tomorrow at 3pm to discuss a small sinkhole that appeared when they did some work about 4 months ago. We are hoping they will repair this problem themselves.

b. Recreation: Madeline Figas stated that the St. Patrick’s Party will be held this weekend.

c. Space Coast Condo Association: Betty stated that the next meeting will be held at the Cocoa Beach Comfort Inn on March 24^th from 9am to 12 pm. It is a trade show of contractors who supply services to condominiums on a regular basis. All owners are invited to attend since the Association is a member.

8. UNIT SALE APPROVALS (SALES PENDING):

No sales are currently pending. Mitzie stated that 10 units are currently for sale.

9. PHONE DIRECTORY UPDATES:

None at this time, but e-mail addresses are so very helpful in keeping costs of copying the newsletter down.

10. OWNER FORUM:

A resident asked about the rusty trailer and van that are stored in the storage area and another trailer that came in about 8 months ago. Letters have been written to those with vehicles and trailers in disrepair and it was noted that these items must be currently registered in the name of the resident with the Island Village address on the registration card. More letters will be written to those who are non-responsive and the Association has the right to tow illegally-stored or non-maintained vehicles and trailers.

11. SET NEXT MEETING DATE:

The next Board meeting will be held Tuesday, April 10th at 7:00 p.m.

12. ADJOURNMENT:

There being no other business, the meeting was adjourned at 8:10 p.m.

Michelle Dugan _____________________________

Michelle Dugan, CMCA, LCAM #17226 Approved by Isabelle Gentile

Reconcilable Differences, Inc. IVCA Secretary

ISLAND VILLAGE CONDOMINIUM ASSOCIATION, INC.

2135 N. Courtenay Pkwy, Merritt Island, FL

Board of Directors Meeting

held TUESDAY, FEBRUARY 13, 2007

1. CALL TO ORDER / PROOF OF NOTICE:

The meeting was called to order at 7:00 p.m. in the recreation room. Notice of this meeting was posted on the clubhouse door more than 48 hours in advance of the meeting.

2. ROLL CALL / QUORUM ESTABLISHED:

Board Members Present: President Betty Gaulin, Treasurer Mitzie Rose, and Directors Steve Gaulin, Madeline Figas, and Directors Sid Shipley and Mary Touris. Vice President Gwen Eifler, Secretary Isabelle Gentile and Director Larry Haymes did not attend.

3. APPROVAL OF MINUTES FROM January 9 MEETING:

Betty stated that the minutes were copied and delivered without the revisions below made:

Regarding Screen Enclosures: The aluminum paneling or skirting around the bottom of many first floor screen enclosed porches is unsightly and in dire need of painting. This is the owners’ responsibility and many need painting or replacement. Owners should have these painted white. If residents need help, David does do private jobs after his work hours at Island Village. Betty also met with a paint company representative this month and has a materials list and prices for those who are interested in doing the work themselves. Please call management to obtain the list and price sheet.

With regard to State Farm and agent Jack Kroening asking to attend another meeting, the Board asked management to request a quote from him in plenty of time to assess the need for additional funds, seeing no need for an in-person meeting.

Lastly, Jacquie Allen requested that the wording about the donation be as follows:

Madeline Figas thanked Jacquie Allen, Hank Griggs and Alpha Delta Kappa President Miriam Griggs for the donation of a television. The television is available for use in the recreation room.

With these revisions, Sid motioned to approve the minutes of the January meeting. Mary seconded, all in favor.

4. FINANCIAL REPORT:

Mitzie reported that a CD matures at Fidelity Bank this month. There was discussion about the need to keep only $100,000 in each bank, per FDIC insurance rules. Mitzie checked the interest rate at four banks and after much discussion, Sid motioned to place $50K in a 6 month CD at Fidelity, using the funds maturing plus additional money market funds in that same bank. This bank pays 5.25% interest on the CD. He further motioned to place $50K from the Fidelity money market into Coastal Bank at 5.2% interest for 6 months and place an additional $50K into Sunrise Bank at 5.3% interest for a 6 month CD. The Board further agreed to have manager open a money market account at Colonial to place the current monthly reserves savings into, since Fidelity has over $100,000 of the Association’s funds right now. Betty seconded the motion, all in favor.

Manager reported that Wachovia’s bank statement had not been received by this meeting, so the financials for January are only preliminary. The reserves break down into five major components; Roofs, Painting, Paving, Deferred Maintenance which includes the pool, concrete restoration, landscaping, pond work, etc, and an Insurance Deductible Reserve. Together they total $196,110.45 to date. We are saving an additional $9,259 each month towards these totals as well.

As of January 31, 2007, the Association is running within $100 of budget; therefore doing very well in keeping costs within budget. We have one unit owner who is 2 months behind in paying their assessments and a letter has been sent outlining the late fees now billed to accounts that do not pay by the 10^th of the month and how, ultimately, an owner could lose their home for not paying their assessments to the condo. Manager also asked that owners NOT place their monthly checks in the rec room office mailbox. Please use the coupons and mailing labels to mail your check directly to the bank so it is received before the 10^th of the month. For those who lose their coupon books, please mail your check to the RDI office in Cape Canaveral.

Sid asked about the disparity between water costs in different buildings. Don Williams reported that one unit’s commode had been running for quite a while. He repaired it for her for $1.00 but it cost an extra $400 in water. Drips and stuck toilets cost the Association a lot of money. All owners are asked to be vigilant about drips and leaks.

5. UNFINISHED BUSINESS:

Betty made many calls to contractors recommended for this type of work and to date, only Mike’s Masonry has responded. He came out and met with Betty and quoted $544.00 to repair the problem by “V”-ing out 80 linear feet of cracks and sealing with polyurethane sealant. He would also do the same with 48 feet of wall areas and 48 feet along the ceiling. There was discussion about what his warranty would be, so this was tabled while Betty finds that out.

6. NEW BUSINESS

a) Mold Issue: A resident in “A” has had symptoms of burning eyes, headaches, coughing and ear aches. They have had their own air ducts, couches, chairs and carpets cleaned to no avail. The unit below has a stench when you walk past it and the upstairs neighbor has an old half-rolled up carpet on the balcony. Michelle, Betty and Don met with the lower unit owner and he agreed to pay for mold inspection and treatment. That was done last week. The residents present tonight still have no relief. There was much discussion about the upstairs empty unit and Don Williams agreed to remove the carpet and bleach the areas it contacted if the Board gave him approval. Board did and manager will contact owner of that unit and ask them to look into air quality inside their unit.

b) Annual Air Conditioner Service Option for Unit Owners:

Steve Hoskins will again offer his pricing of $30 per unit to inspect the roof and inside air handlers on an individual basis if at least 10 residents sign up. The sign-up sheet is in the rec room. The date will be March 15^th. Sign up at least a week in advance. Steve will start with “A” building and work his way around on the 15^th. Owners will pay him directly.

7. COMMITTEE REPORTS

a. Don Williams reported that the bridge is repaired at a cost of $973.82 in supplies and wages of $789.00. The wood must cure for 3 to 6 months before it can be stained or painted, but all is safe and the bridge looks wonderful! Don thanked Max Mahoney and Sid Shipley for their help. It was stated that the cost would have been double or more if not for Don’s hard work and volunteer help.

Don stated that some people are putting metal can LIDS inside the recycle containers. These are dangerous and could cut people and are not picked up by Waste Management. Please throw lids away in your personal garbage bags.

Regarding the boat yard and the brown storehouse, we have a number of trailers with expired tags and one boat trailer Don does not know the owner of. There was discussion about the rules of use for this area. Anything stored in there must belong to the actual resident, not a friend or relative. The Association requests that all who are storing items in there present a copy of their annual registration to the Association. Betty has a map of the area and we will be placing the name, unit # and phone number for each item on this map in case they need to be moved around. All who have large items stored at IVCA are asked to present a copy of their registration along with their phone # so we can organize the spaces. You can leave the registration with Don or Betty or management, but we need this information before the next meeting. Those with expired tags will receive written reminders this month. Please also remember that all stored items must be “road-ready” in good shape with no flat tires.

Mitzie now has a copy of the landscape maintenance agreement and will work with Sid and Chuck to confirm how weeds are handed by the contractor.

b. Madeline Figas stated that the group is working on the St. Patrick’s Party and anyone interested in helping out is encouraged to call her!

c. Betty stated that the next meeting will be held at the Cocoa Beach Library on February 24^th and the speaker will be discussing Rules Enforcement. All owners are invited to attend since the Association is a member.

8. UNIT SALE APPROVALS (SALES PENDING):

No sales are currently pending.

9. PHONE DIRECTORY UPDATES:

The last directory printing was not spaced well, but we want to make sure the information is accurate for the future, so if anything was incorrect, please contact management office with the changes.

10. OWNER FORUM:

The Board wanted to stress to the owners how important it is that you maintain your screen enclosures and paint or replace the aluminum where needed. The work must be completed before March 31, 2007 or the Association will do the work and bill you for the time it took. If you need help, please contact the management office and we will help you get the needed supplies and names of contractors.

Mickey Phaneuf was asked to report on the construction site to the south of Island Village. He spoke to a number of officials who stated that they cannot force the developer to finish the project. In September of 2003, the site plan was approved and it had a 3 year expiration date. At this time, they are in limbo. There are liens by at least two general contractors who worked on the job and a possible foreclosure is starting. There will be a long legal process before this ends. The county will not tear this site down. Sometimes they handle things this way and then lien the developer, but in this case, there is no money to go after. After our calls in September, the county gave the developer 180 days to clean up the site, but it is still not done and there are no “teeth” in the request; no further action will be taken by the county. As of this date, nothing is being done nor can be forced to be done.

11. SET NEXT MEETING DATE:

The next Board meeting will be held Tuesday, March 13th at 7:00 p.m.

12. ADJOURNMENT:

There being no other business, the meeting was adjourned at 8:20 p.m.

Michelle Dugan _____________________________

Michelle Dugan, CMCA, LCAM #17226 Approved by Isabelle Gentile

Reconcilable Differences, Inc. IVCA Secretary

B & R Pest Control (321-449-0399) B & R Pest Control (321-449-0399)

Buildings A - B - C Buildings D - E - F

Fourth Friday of every other month: Fourth Friday of every other month

Jan-Mar-May-July-Sept-Nov Feb-April-June-August-Oct-Dec

Beginning at 10:00 a.m. Beginning at 10:00 a.m.

ISLAND VILLAGE CONDOMINIUM ASSOCIATION, INC.

2135 N. Courtenay Pkwy, Merritt Island, FL

Board of Directors Meeting

held TUESDAY, JANUARY 9, 2007

CALL TO ORDER / PROOF OF NOTICE:

The meeting was called to order at 7:00 p.m. in the recreation room. Notice of this meeting was posted on the clubhouse door more than 48 hours in advance of the meeting.

ROLL CALL / QUORUM ESTABLISHED:

Board Members Present: President Betty Gaulin, VP Gwen Eifler, Treasurer Mitzie Rose, and Directors Steve Gaulin, Madeline Figas, Larry Haymes and Sid Shipley. Secretary Isabelle Gentile and Director Mary Touris did not attend.

APPROVAL OF MINUTES FROM December 12 MEETING:

Gwen motioned to approve the minutes as delivered to owners. Madeline seconded, all in favor.

FINANCIAL REPORT:

Mitzie reported that the bank statements had not been received yet, but the reserves have $195,487.95 and the Association was significantly over in electricity and pool expenses, but under in water and maintenance crew expenses. Manager was asked about using reserves for the recent electrical work. Michelle stated that we try to use operating funds when possible. If other unexpected items come up that result in the operating account being over-budget, we can re-visit the use of reserves for legitimate repairs and replacements and transfer money before the end of the year, thus allowing funds to gain as much interest as possible. Manager was then asked to place all extra operating funds into a separate money market fund to gain as much interest as possible until the funds are needed.

UNFINISHED BUSINESS:

1) SCCA Membership: Betty stated that money was sent to Space Coast Condominium Association and the Association is now a member. This entitles all owners to attend the monthly meetings in Cocoa Beach about topics that are relevant to condo living. The next meeting is January 27^th at the Comfort Inn from 9:00 am to 11:30 am.

2) Pool Status: Larry stated that many repairs have been completed (the DE Catchers were replaced and we grounded the wiring for the two pumps) but major expenses of replacing ladders to code, replacing cracked tiles and moving the rope line are on hold while we obtain prices to re-surface the pool at the same time as these other repairs.

3) Maintenance Man: David is working out very well and cares about the looks of the grounds. He is now an employee, with taxes being taken out of his check and the Association covering all employer costs and worker’s compensation through RDI.

NEW BUSINESS

1) Late Fees: Florida Condo Statute 718 shows the legality of charging up to $25 per month when an owner doesn’t pay their monthly assessments on time, since the condo documents also allow it. Discussion ensued about a lower amount, but it was decided that $25 will make people think before not paying their fees on time. Sid motioned that beginning February 1, 2007, the Association shall charge a late fee of $25.00 per month for any assessment not paid by the 10^th of the current month and that if the owner does not pay his assessments and late fees, that the legally-allowed 18% interest also accrue until the payments are up to date. Mitzie seconded, all in favor.

2) Colonial Bank Account:

Owners have now received their coupon books to pay their monthly fees. Some have not and we will investigate for correct addresses. The coupon books were sent to the currently-known address, but as long as the account (unit) number is correct, your check will be applied correctly to your account if you send the coupon with the check. Labels are inside the coupon books and also the option of automatic debit is offered for those who fill out the form inside the coupon book.

COMMITTEE REPORTS

a. Maintenance: Don Williams reported that the stairs, walkways, sidewalks and all second floor soffit have been pressure cleaned. They found some bad circuit breakers on the outside entrance lights and some bad wiring in the ground to the pond lights, but Sunkraft took care of that. The water drain grate at “B” building has had the blacktop around it replaced. Don asked that everyone tell guests not to throw cigarette butts on the sidewalks, the grass or in the parking lot. Right now we have a problem with this around all six buildings.

We are still dealing with a water leak problem from the unit over the rec room into the

porch area of the rec room. The wall and ceiling have been repaired three times in the last 12 months and we need to find an answer. The 52 plants on that balcony may be part of the problem. Management will write a letter to the owner asking her to maintain her balcony, her plants and remove the hurricane plywood that is still left out. Mitzie motioned to get a quote from Concrete Restorations companies to seal this balcony with a guarantee that the water will not continue to leak through. Betty seconded, Sid was not in favor of this, but all others approved

Screen Enclosures: The aluminum paneling or skirting around the bottom of the first floor screen enclosed porches is unsightly and in dire need of painting. This is the owners’ responsibility and many need painting or replacement. Owners should have these painted white. If residents need help, David does do private jobs after his work hours at Island Village.

Manager noted that the past Board had approved concrete work and painting of two buildings per year.

Don stated that the sidewalks are currently being leveled and then David will start on the bridge. They are looking at a different way to attach the wood, making it easier to paint and maintain for the future.

Lastly, the brown house or storage area has a number of non-registered and unusable trailers and vehicles. Please remember that this is not a junk yard, just a place to store items that you don’t need all the time, on a temporary basis.

b. Recreation: Madeline Figas thanked Jacquie Allen, Hank Griggs and Alpha Delta Kappa President Miriam Griggs for the donation of a television. The television is available for use in the recreation room. A note of thanks was sent. The rec room committee is planning a Corned Beef and Cabbage Dinner on St. Patrick’s Day, Saturday, March 17^th. The social fund is low, so the cost will be $5.00 per person, which is still a great deal. Gwen Eifler will be cooking her superb meal as in the past.

UNIT SALE APPROVALS (SALES PENDING):

No sales are currently pending.

PHONE DIRECTORY UPDATES:

Mitzie brought in the most recent numbers she had and asked that anyone with a new phone number let us know. Once updated, she will forward this to Isabel and we expect to deliver the revised list with the next minutes.

OWNER FORUM:

Current insurance agent Jack Kroening asked to speak at the next meeting about the renewal with Citizen’s. Instead, the Board decided to request that he submit his quote and management will obtain 2 more quotes before the June 1st renewal.

A resident stated that the parking issue is problem. People are using their own space and then using the guest spaces for their second cars, leaving no free spaces for service personnel or quick visitors. The rules state the spaces are on a “First Come, First Served” basis, but also ask that infrequently-used vehicles be parked at ends of the buildings leaving closer spaces for daily use. Please do not tie up guest spots if you are on vacation.

SET NEXT MEETING DATE:

The next Board meeting will be held Tuesday, February 13th at 7:00 p.m.

ADJOURNMENT:

There being no other business, the meeting was adjourned at 8:30 p.m.

Michelle Dugan _____________________________

Michelle Dugan, CMCA, LCAM #17226 Approved by Isabelle Gentile

Reconcilable Differences, Inc. IVCA Secretary