MEMBERS IN ATTENDANCE: Mr. Bill Como, President; Mr. Ron Buttrum, Vice President; Ms- Michele Ryder, Treasurer/Secretary

TREASURER'S REPORT: As of 3112/01 Ms. Ryder shows a balance of $4456.89 in Fund A and $2207.79 in Fund B. Officers reviewed current reserve funding for resurfacing. A motion was made and unanimously passed that The Association invest $3,000.00 for FYR 2001 ($2,000.00 Fund A & $1,000.00 Fund B) into a 36 month CD at First Community Bank and roll-over the $2,860.00 (currently invested in a 9 month CD at First Community Bank) into a 13 Month CD at First Community Bank. Currently there is one outstanding Association fee totaling $180.00. A final request letter will be mailed out to this Owner the week of 3/26/01. A detailed transaction report can be obtained -at anytime by written notice to the Association Treasurer.

Unimproved Lots- In accordance with the Covenants and by-laws, all unimproved lots must be maintained. Lot owners will be responsible for mowing said property four times per year. If an unimproved lot owner does not do so then The Association will make arrangements for this to be done at the owner's expense. Checking into the legality question. OPEN

Landscaping Contract: The Association's landscaping contract expires 'in April 2001. Prior to the award of this contract for 2001, the Officers will solicit Competitive bids from at least three sources.

Neighborhood Crime Watch: Information is being gathered by the Officers regarding formation of a Neighborhood Crime Watch Community. As this program requires a great deal of neighborhood involvement and participation, we will be seeking feedback from Association members regarding their level of commitment and interest in this program. This item will be tabled if no responses are received from community by May 1, 2001. OPEN

Neighborhood Fly Day & Work Day: A tentative date of April 21st was discussed and tentative scheduled (weather permitting) for the Association to hold a community work day from 9:00 am until 1:00 p.m. followed by "Take A Neighbor Flying" and cook-out. OPEN

Entranceway lighting: Bill Como and Ron Buttrum are gather information regarding the associated costs regarding adding additional lighting in the entranceway and mailbox area. OPEN

By-laws: It has been determined that the by-laws do not need to be filed with the Registered of Deeds. CLOSED

Information/Suggestion Box: Mr. Rich Mochak has donated to the Association a box, which he installed at the entranceway by the mailboxes. Officers will use this box as a means to distribute the Meeting Minutes/Quarterly Newsletter. Additionally, Owners can provide comments/suggestions to the Officers. CLOSED

Potato Shoot Off Request: Officers have agreed to allow this event. It has been scheduled for May 5th at 12:00 p.m. This event will take place in Phase 2. CLOSED

Liability Insurance: Board of Directors (John Gardner) is still addressing this issue. Updated information will be obtained from the Board -at its March 20, 2001 meeting. OPEN

Quarterly Newsletter: The first edition of the neighborhood newsletter "Prevailing Winds" is planned to be distributed to community within the next two weeks. This newsletter will be available on a quarterly basis. Volunteers are needed to help in gathering newsworthy events. If interested, please contact any board member by April 15, 2001. OPEN

Page Three

Board of Directors Meeting: A Board of Directors meeting will be held on Tuesday, March 20, 2001 from 7:00 p.m. to 9:00 p.m. at the office of Manus Construction. CLOSED

Hangar Parcels: In accordance with the Covenants/By-Laws, all hangar parcel owners must pay $150.00 association fee annually. This fee represents the Homeowners Association fee and Aviation Association fee. CLOSED

Taxes: A CPA has performed all necessary tax preparation and filings on behalf of the Association for 1999 and 2000 for a fee of $125. CLOSED

Runway Lights: Mr. Bill Como advised that the grounding problems were located and repaired. The runway lights are now operated remotely via keying of the Mic. CLOSED

Association Mailbox: An available mailbox has been offered for the exclusive use of the Association. CLOSED

April Meeting: The next Officers meeting will be held at the home of Mr. Bill Como on Monday, April 16, 2001 at 7:00 p.m.

Meeting was adjourned at 9:15 p.m.

Respectfully submitted,

Treasurer/Secretary