05-14-21.EXTER.PRESIDENT REPORT.ISSUE 2

Page 4

COMMITTEE APPOINTMENTS

SELLERS REQUEST TO DEFER RE- FUND OF RETURNABLE EQUITY Due to the current market conditions and the lack of inventory, the Board consid- ered a recommendation to extend the time period for the Sellers Request to Defer Re- fund of Returnable Equity, from one year to 18 months. This would allow selling mem- bers to have up to 18 months to purchase another home in Frenchman’s without having to pay additional equity. The Board voted to adopt an extension to this policy from one year to 18-months from the date of closing, effective April 22, 2021, and expiring on April 30, 2022. The Board also agreed that mem- bers who executed the request form after January 1, 2021 and before April 22, 2021, would be considered grandfathered, and therefore, their executed request would ap- ply under this extension.

First, I would like to take this opportunity to thank all of last year’s Committee Chairs and Committee members for their contributions and service to the Community. It is with this active participation that we can continue to strengthen our community. The new community year has begun with the appointment of the Committee Chairs. Sev- eral chair positions were granted an exception to the 3-year Chair term policy (ARB, Entertain- ment & External Affairs) for purposes of continu- ity and succession planning. The committees have now all been formed and will be proceed- ing forward with goals for the coming year. One of these goals included appointing members who have not served on committees over the past few years. Thank you to all of the commit- tee members who have agreed to serve this year—we look forward to a very successful sea- son!

U PCOMING M EETINGS

Sincerely, Diane Exter Diane Exter President President@Frenchmanscreek.com

Board Meetings—2:30 p.m. (Zoom)

• May 18, 2021 • June 22, 2021 • July 20, 2021

Meet the President—4:00 p.m. Main Dining RoomWest

• May 19, 2021 • June 23, 2021 • July 21, 2021