MEETING OF THE BOARD OF DIRECTORS OF
BRITTANY LAKES HOMEOWNERS ASSOCIATION, INC.
December 18, 2007
A brief meeting of the Board of Directors of Brittany Lakes Homeowners Association, Inc. (?Association?) was held on Tuesday, December 18, 2007 prior to the annual meeting held at Bauerschlag Elementary School, 2051 League City Parkway, League City, Texas 77573.
Elizabeth ?Beth? Scully, Eli Mark and Linda Lorch were present as the Board of Directors, which constituted a quorum of Board Members. Also in attendance were Janet Sakach, CMCA, PCAM representing Planned Community Management, Inc. (“PCMI”).
A quorum of Board of Directors was present and Beth Scully chaired the meeting and called the meeting to order at 6:10 p.m.
The only business to be considered at this meeting was the review of insurance coverage for the year 2008, which the present coverage is due to expire on January 14, 2008. After a review of a summary of two insurance proposals and upon a motion being made, second and carried it was:
RESOLVED: to renew the insurance coverage with Hilb, Rogel & Hobbs with increased property values to cover the assets of the community as follows:
| HRH (Hilb, Rogel & Hobbs) Total excluding Wind/Hail= $20,128.00 | Premium $12,306 Total coverage = $1,220,000, $500 deductible. $2M Gen Agg, $2M Prod/CO, $1M Pers Inj, $1M Each Occ., $100,000 Fire Legal Rating A 14 | Required for Umbrella Rating A 14 | Premium $4,518 $15M Coverage $10,000 Deductible Over all policies Can offer $5M for $3,688 Rating A++15 | Premium $2,811 $1M Coverage $1,000 Deductible Rating A++15 | Premium $493 $1M Coverage $1,000 Deductible Rating A++15 |
It was further decided to defer a decision on coverage for wind and hail damage to a later date.
At 6:15 pm., the Board adjourned the Board meeting.
BRITTANY LAKES HOMEOWNERS ASSOCIATION, INC.
__________________________________
Linda Lorch, Secretary