FRANK'S BLOG

Board of Directors Meeting Pelican Pointe II
Wednesday, November 8, 2006
At 9 a.m. in the Pelican Pointe Clubhouse

The Board of Directors meeting which was adjourned on October 11, 2006 will be reconvened to deal with the following agenda items:

1. Presentation by Statewide Commercial Insurance of their proposal for the full range of insurance coverage needed by Pelican Pointe II.
2. Presentation by Ranew insurance of Melbourne of their proposals for the same coverage of insurance.
3. Evaluation by the Board of the foregoing proposals and determination of which insurance broker to use for our 2007 insurance coverage.
4. Revision of the draft budget to take into account the updated insurance costs received from the brokers; any other revisions determined to be necessary by discussion with the attendees.
5. A motion to recognize in our accounts the hurricane expenses paid in the past from our reserves, which totals $233,691.38. This will be allocated to the appropriate reserve accounts namely Roofing, Painting, and Deferred Building Maintenance. This action has been taken into account in our draft budget for 2007.

All PP II Unit Owners are invited to attend this Board Meeting. The Board of Directors plans to have a Budget Review Meeting with the membership on December 4, 2006. The proposed budget will be sent out at least two weeks in advance of the December meeting to enable all Unit Owners to review the budget prior to the meeting.

In addition to this posting on our Blogsite, this notice is being posted on the bulletin board located at the mail kiosk by the Clubhouse.
November 2, 2006