TAMARIND NEWS

NEWSLETTER - FALL 2007

FOURTH QUARTER. Enclosed with this newsletter is the maintenance assessment reminder for the fourth quarter of 2007, which is due on or before October 1^st.

INSURANCE. This is the least favorite subject of all property owners in Florida. As you probably know Citizens Property Insurance Corporation provides our windstorm coverage. Citizens is a state operated insurance company that was developed to provide “windstorm only” coverage to Florida customers who due to increased exposure to loss based on location and other factors cannot secure coverage from the private sector. In Tamarind’s case it is due to being located on a barrier island and the size of the property. Many private individuals also are left with no other alternative than to purchase coverage from Citizens. Due to an outcry from Florida residents demanding relief from exorbitant premium increases, the state Senate legislated injunctive relief and many private citizens have realized a decrease in their premiums. However, this decrease does not apply to commercial customers who represent the greatest exposure to loss and claims, which describes community associations. Our annual coverage period begins on July 1 each year, which is in the middle of our fiscal year, so the actual expense from a budget standpoint is split between two calendar and budget years. For 2007 we budgeted an estimated increase of 28% expecting an increase of 20% or less. We actually experienced a 150% increase over 2006 premium amount and a budget shortfall of 105%. In actual dollars this amounts to $48,694.00, which equates to $83.96 per owner per quarter assessment shortfall that will need to be recovered in next years assessment.

SUMMER PROJECTS.

Painting. The painting of the exterior of the buildings is progressing and should be completed by the end of September. The beach side of the property required considerable repairs to stucco and the replacement of some of the windowsills prior to priming and painting. We are not experiencing this on the bayside of the property, since it is not as exposed to salt drenching as the beach side buildings.

Landscaping. The bayside landscaping project which consists of the front of buildings B-6, 7 & 8, A-5, E-1 and D-1 is progressing slowly. The exposing of buried construction materials that had been dumped there and buried during construction is hampering the progress. The sprinkler system in some areas was not functioning and time has been invested to solve this problem. The anchor plants, which are the areca palms shielding the storage closets and the dwarf queen palms at the entrances, which mirror the beachside buildings, are in place. The decorative plants, which are more susceptible to damage from the chlorine washing of the buildings, are being installed in concert with the completion of each building. Each area will then receive red rubber mulch once the painting is completed.

Clubhouse. The clubhouse project is progressing. We are approximately 6 weeks behind due to unreasonable delays in receiving our building permit from the county. We now have it and are in high gear to get the project completed. Tamarind personnel in addition to renovating the kitchen did some of the demolition work to speed progress. The structural damage due to water infiltration several years ago, and the primary reason for the project, although not insignificant; is not as extensive as it could have been. It is primarily limited to the top wooden plate between the first floor ceiling and the second floor loft. The repair will require the construction of a temporary support for the loft structure and the removal and replacement of the damaged members on the exterior wall. If the project progresses smoothly it should be completed the first part of October.

REMINDERS.

RENTALS. As stated in the Tamarind “Articles of Incorporation” and “Rules and Regulations” all potential renters must complete a “Rental Approval Application” and submit it to the Board of Directors for approval prior to occupying any unit. It is the responsibility of the unit owner to comply with this requirement and to make certain that any agent that you engage for the purpose of soliciting a renter for your unit is in compliance. It is also the responsibility of each owner to comply with the federal and state laws and county ordinances concerning the soliciting of tenants and the collection and reporting of the required sales and transient taxes. Severe government sanctions and penalties will apply for noncompliance.

GULF REALTY. Supporting Gulf Realty whenever possible in the marketing of your unit for sale or obtaining a tenant is financially beneficial to every member of the Association and significantly reduces your quarterly maintenance assessments. Gulf Realty has a long-term relationship with Tamarind and is very familiar with the property and our Rules and Regulations and demand compliance from their client, your tenant.

IN MEMORIAM.

GLORIA SHANK

The Association would like to acknowledge the passing of resident Gloria Shank. Gloria was the wife of long time Tamarind president John (Bernie) Shank. We extend our condolences to Bernie and the Shank family. A memorial gift was sent to St. Mary’s Child Center.

NORMAN GREWE

The Association has received word of the passing of winter resident Norman Grewe. We extend our condolences to Helen and the Grewe family. A memorial gift was sent to Seasons of Life Hospice Center.

MARGE ROBERTS (DANN)

The Association has received word of the passing of Marge Roberts. Marge was the life partner of Ray Dann who was the former long time manager of Tamarind.

Have a wonderful fall season.

Tamarind Board of Directors.