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SEA PINES HOMEOWNERS ASSOCIATION

December 5, 1989

Dear Homeowner:

What a pleasure it is to write this letter. I believe I have two pieces of very good news for Sea Pines Homeowners. First, the FMB has approved, and we have signed a contract with Mercantile Property Management, Craig McGowan, President. This management firm will begin January 1, 1990. As I have tried to keep you informed, a committee plus your FMB have been studying, taking action and have made a final decision to hire this management firm. Thanks to the careful work of the Management Study Committee and their recommendations, the Board has been able to move forward with clarity, assurance, and decision making. You will be receiving a letter from Mercantile Property Management which will contain an envelope to send in your January maintenance fee along with their address and phone number. MPM and CMA will be working together during the transition period. We welcome Craig to Sea Pines and continue to thank CMA for their work with us since last Spring. After December 31, all requests, complaints, congratulations on jobs done, and the like, should be addressed to Mercantile Property Management. Yes, our regular maintenance personnel will continue at Sea Pines.

My second piece of news. The FMB, at its December 2 meeting approved a budget for Sea Pines for 1990. This budget allows for no increase in maintenance fees for 1990. The thoughtful work of our Treasurer, Bob Grogan, the careful planning of committees and the Board allows us for the second year to keep fees stable, I consider this to be a real accomplishment with the increased cost of living.

These positive announcements allow me the privilege to wish each of you PEACE in the New Year.

Elizabeth Ann Liddle
Chair, FMB