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October 23, 1992

Dear Neighbors:

The trip from Boston to Sea Pines is a riot of color. Although the season of full bloom is past, many Sea Pines areas are still in flower with the grass a marvelous green accent. The first killing frost will change that.

Frost and freezing temperatures are a reminder to set up winterizing your units. As in the past, local plumbers will winterize your water systems so you won't have a burst pipe to contend with.

The FMB is contending with a variety of issues. At the October 31 meeting, we will be reviewing the first pass at the 1993 budget. We hope to come in lower this year. All committee chairpersons should send in or be present with their budget needs for FY 1993 at the October 31 meeting.

Mercantile Property Management's contract ends in December, 1992. They have offered to renew for two years at the 1992 rate. After discussion, the FMB is inclined to renew without putting the contract out for bid.

We are generally pleased with Mercantile's performance. Putting the contract out for bid in this economic environment would solicit low ball bids from questionable "managers," many who are developers in a bind. I have found that Mercantile's rates are competitive. Based on stability, service and cost, the FMB would like to remain with Mercantile.

The issue of flood plain/velocity insurance for Sea Pines is still an issue. Craig McGowan of Mercantile will update us on his findings at the October 31 meeting.

The Grounds Committee is touring Sea Pines checking and replacing lights to insure adequate lighting at appropriate energy costs. Our landscapers are doing their fall pruning. In general, it is a steady time at Sea Pines as we prepare for winter.

Have a Happy Thanksgiving!

Regards,

Jim Fowler - Chairman FMB