The Meeting was called to order at 3:08P by the President, Mr. Cavaleri. He thanked the Glades residents in attendance for their presence at the meeting. He then requested that all homeowners cite their names and addresses for the minutes before speaking during the meeting.

He asked Ms. Cox if there was a quorum of the Board Members present in order to proceed with the meeting. She concurred.

He then asked if there were people available to count the ballots for the new election of officers of the Glades Owners Association. Ann Cavaleri, Marilyn Chambers, Mott

Horn, and Carol Patterson agreed to count the ballots and left the room with the votes.

The Minutes for the December 30,2008 meeting were presented by the Secretary, Ms. Cox. There was a discrepancy in the bank balance cited in the minutes and the actual balance. That will be revised. A motion was then made to accept the minutes of the meeting by Mr. Easter and seconded by Ms. Wallace. The motion was carried.

The Treasurer's Report was presented by Treasurer, Mr. Friess. After dues, the bank balance for Glades I was $31,284.75; Glades II has a balance of $1 ,972.68; and the overall balance for the Glades is $33,257.43, including $10,972.99 in a CD. The final balance for 2008 was $37,490.79 for Glades I and ($2,103.49) for Glades II.

Glades II expense problems developed when their insurance rates went up due to a change in insurance carriers. Glades II was dropped by the original carrier. Homeowner, Judy Lee, said she was positive that Wes Burnham is going to take over the maintenance, and possibly the insurance, for the Glades II ponds. The Glades II owners are also going to mow their own lawns up to the ponds and halt chemical fertilizer to save expenses.

Homeowner, Doyle Owens, asked about the $100 assessment mentioned in the December 2008 minutes. Discussion about a possible $1 DO/per lot assessment for final signage at the Beckrich Entrance will be under the auspices of the next Board of Directors.

Homeowner, Bill Henry, asked the name of our attorney of record. Mr. Cavaleri told him it was Usa Walters of Burke Blue Hutchinson & Walters. Mr. Easter said the issue was not done officially by the Board and the appointment needs to be revisited by the new Board. Mr. Cavaleri reminded him that we voted on retaining Ms. Walters' services and had executed the paperwork. She was selected because the Developer, Wes

Burnham, hired her to write the original covenants. Since she is already knowledgeable

about the existing covenants, she should be the ideal candidate to make needed changes. Mr. Henry, being an attorney with the same firm, was not aware she had been retained by the community. Mr. Cavaleri reiterated that the current Board would recommend that the new Board continue to use Ms. Walters' services.

Mr. Friess read the Audit Report. There were no problems with The Glades' books. The Report was signed by Bill McCarthy, Chair of the Audit Committee.

David Jordan is going to repair the grassy area across from the mailboxes destroyed by the city replacing water pipes. Mr. Easter told the members not to be surprised if a continuation of the replacement of concrete pipes at the Middle Beach Entrance would go under the bushes, street, and signage sometime next year. He said it would all be torn out. Mr. Cavaleri noted that if any destruction was done during construction the City would handle it the same as at the Beckrich Entrance. Everything would be replaced by the City.

Homeowner, Billy Jane Jackson, inquired about the signage for the Beckrich Entrance. Mr. Cavaleri said that Beckrich should be finished within two weeks according to the City representatives and the next Board would handle the plans.

Homeowner, Tom Holmes, said he felt the signage should have been regarded as a Capital Expenditure. Mr. Friess felt that they had put together a contract that was for maintenance and repair. He has received many, many positive notes included with dues and also had many verbal positives about the signage. The Board felt it was a repair and maintenance that followed the edicts of the Glades Board, keeping the neighborhood safe and continuing to uphold property values. The majority of people at all prior meetings would say, "If we were going to fix the signage, we should do it right".

Ms. Jackson asked if the Glades owned the property where the old signage sat at the Beckrich Entrance. Mr. Cavaleri told her that the City Manager, Richard Jackson, had approved putting the signage in the same location. The signage at Beckrich will look the same as Middle Beach. Also, the small lights at the entrances with the newly installed signage will be activated on Monday. Dave Jordan will be developing a landscape plan to finish the areas.

Mr. Friess went on to say that he had sent out second notices for dues that included a small interest payment to 34 owners who had not paid for their lots yet.

A motion was then made to accept the Treasurer's Report by Ms. Cox and seconded by Ms. Wallace. The motion was carried.

Since there was no Old Business, Mr. Cavaleri asked for New Business. The results of the 74 ballots cast in the election for the Board of Directors was read citing the following 2009 Board Members:

John Bridges Tom Easter

Tom Holmes Gus Martell George McNitt Ken Patterson Dan Schaffer

They were to be sworn in and scheduled to meet directly following the closure of the annual meeting.

Homeowner, Jan Shott, thanked the existing Board Members for their hard work over the last year and the homeowners applauded.

A motion was then made to adjourn the meeting by Mr. Easter and seconded by Mr. Friess. The motion was carried. The meeting adjourned at 4:32P.

Respectfully submitted,

Corinne Cox

Vice President/Secretary

GLADES OWNERS ASSOCIATION BOARD OF DIRECTORS ORGANIZATION MEETING

MARCH 8, 2009

The newly elected Board of Directors met directly after the Glades Owners Association Meeting ended to elect officers. The new board consists of John Bridges, Tom Easter, Tom Holmes, Gus Martell, George McNitt, Ken Patterson, and Dan Shaffer. Mr.Shaffer was not present.

Nominations were made and the following officers were selected by general acclamation:

President: George McNitt

VP & Secretary: John Bridges

Treasurer: Ken Patterson

Environmental Chairman: Gus Martell

Maintenance Board Contact: Tom Holmes

City of Panama City Beach Liaison: Tom Easter

Tom Easter said that only five owners submitted their application to run for the board and were elected. Mr. Easter said that rather than go to the write in owners, he recommended reducing the board to five members. The motion died for lack of a second

The Board agreed to postpone dealing with the proposed $100 additional assessment until conferring with the Association Attorney.

The meeting adjourned at 5:pm.

Respectfully Submitted,

John Bridges, Secretary