August 2, 2004

Dear Neighbor,

The monthly FMB meeting was held Saturday July 31, 2004.

The financial report is quite good. We are on track year to date. If everything remains the same for the next six months we will come in within our budget for Fiscal 2004.

The general pruning is almost complete and the Grounds and Maintenance committee is pleased with the positive feedback received from unit owners. There was discussion that a smaller mower should be used in grass cutting especially in smaller areas.

Dave Sullivan gave an update on the progress of the waterfront homeowners committee to improve the order of conditions for the bluff. They will continue to meet and keep us all informed of the progress they are making.

Frank Pease reported on the Bylaw committee progress. They will be going thru each of the four condominium documents and suggesting changes to update them making them more current and uniform. These changes will require a 2/3 approval from the homeowners in each of the four condominiums.

Management reported no sales this month.

The settlement agreement still has not been signed by the abutters. It is now approaching three months since the officers of the FMB and each of the phase boards signed. We are requesting that our attorney move the land court case forward. We are not at this time withdrawing the settlement agreement; however, we do need a final resolution to this issue.

We received relatively good news from John Phelen, head of the insurance committee; Travelers will be renewing our coverage's and the premiums will be rising 10% (within budget).

There was discussion of people driving too fast between the guard house and the club house. We have so many children at Sea Pines that this could become a tragic problem. We will be installing speed humps at this location so people will be forced to slow down. In the meantime please watch your speed (15 mph speed limit).

Effective this month, the newsletter will only be published at our web-site: www.seapinesbrewster.com and no longer mailed. This will save us over $1,000 per year. In addition a copy will be posted on the bulletin board and several copies will be available in the clubhouse. If you do not have web access, or will be away from Sea Pines, drop me a note with your address and I will mail one to you.

Just in time for fall: Sea Pines sweatshirts are in. They are available at just $20 by contacting Vera Fields 508-896-7643. Don't worry we still have at least one more warm month before they are needed.

The next meeting of the FMB will be Saturday August 28, 2004 at 8:30 AM in the clubhouse. Isn't it wonderful how many children we have here using our facilities?

Sincerely,

Richard Rose, For the FMB