MINUTE OF THE BOARD OF DIRECTORS BUDGET MEETING OF THE HILLSBORO LE BARON CONDOMINIUM ASSOCIATION, INC. HELD ON NOVEMBER 23, 2010, 3:00 PM AT THE ASSOCIATION’S CLUBHOUSE

Present from the Board of Directors were Sam Bowling, President, Jack Mahoney, Vice President, Directors Dick Bergman, Ken Koppenhoefer, and Fred DeJacma. Directors Pauline Murdock and Roman Bartkiw were absent with prior notice.

Present from Consolidated Community Management, Inc. was Mark Palmiotto, Property Manager.

CALL TO ORDER

Sam Bowling called the meeting to order at 3:00 P. M.

PROOF OF MAILING

Sam Bowling presented the affidavit of mailing showing that the meeting was properly noticed to all residents in accordance with Florida Statute 718.

APPROVAL OF MINUTES

Jack Mahony motioned to approve the minutes of November 6, 2009. Motion was seconded by Ken Koppenhoefer. All directors voted in favor of the motion and the motion carried.

QUORUM ESTABLISHED

Sam Bowling reported that 38 owners were present in person or by proxy. He further stated that there were 34 votes in favor of waiving reserves and 4 opposed. Therefore the funding of the reserves was waived for 2011.

A question and answer session ensued with regard to several of the line items in the 2011 budget.

APPROVAL OF THE 2011 BUDGET

Jack Mahoney motioned to approve the 2011 Budget as presented with a correction. Motion was seconded by Dick Bergman. All directors voted in favor of the motion and the motion carried.

ADJOURNMENT

There being no further business before the Board of Directors, the meeting was adjourned at 3:48 P. M.