The HOA held an informal, unannounced, organizational meeting in January on January 20, 2002. The purpose of the meeting was informal, for the appointment of Officers, and for education of the new Board members in the issues of the HOA.

Present: Niel Bonacom

Dennis Perry

Todd Shirey

John Gardner

Jim Wheat

Bill Como

The Officers were appointed by joint resolution of the Board Members:

Dennis Perry, Chairman

Terry Yon, Secretary

John Gardner, Treasurer

Todd Shirey, Newsletter

Further: After appointment of Officers, Niel Bonacom read and reported the Mission Statement of the Whiteplains Homeowners Association and explained the origins of the community and his vision for its continued development.

The Board adopted the following general rules for future meetings and business issues; All request for items, new business, or any issue regarding the Board will be presented in writing prior to the Board meetings. There is no other method or vehicle for introducing matters before the Board; There will be bi-monthly meetings on even months, the first Tuesday of the even months at 7:00 p.m.; The official address of the HOA is Whiteplains Homeowner’s Association, 1043 Barr Road, Lexington, S.C. 29072; all meetings shall be announced by placing a placard on the mail box bulletin board 48 hours in advance of the meeting.

The Treasurer presented the HOA financial statement(s). He has adopted a very simple approach to the financial records and in doing so, he has made the financial information very understandable. The new approach involves separating the two Funds, Fund A and Fund B and accounting for them separately. Plus, he has dropped the number of accounts on the General Ledger to about 10. By doing this, the Check Register literally becomes the Financial Statement.

The Treasurer presented a list of collected and uncollected Association dues. The Board declared March 15 of each year as the past due date for unpaid dues. The Board will determine at the next stated meeting the proper procedures for collecting unpaid dues. There was discussion concerning confusion arising from the Invoices issued for annual dues. The confusion regards using two different Invoices, one for the Homeowner’s Association and one that was labeled Pilot’s Association. In truth, the Invoice labeled Pilot’s Association represents the aviation fees levied by the Homeowner’s Association for owners with runway access or hangars. The Secretary and Treasurer will develop a letter to clarify the issue.

There was a brief discussion of the open Legal issues involving Fred Burns. Jim Wheat presented the ARB’s position and a brief history of the various actions and communications in this Case.

Niel Bonacom will provide Board with the updated Restrictions at the next meeting.

The Board adjourned with no further Actions at about 8:50 p.m. Next stated meeting is March 5, 2002, 7:00 p.m. at John Gardner’s garage.

Respectfully Submitted,

Terry R. Yon, Secretary