COVER LTR & PROXY-FINAL

Clubhouse Projects Vote

January 27, 2021

Dear Members:

The Board and the Community have spent a very substantial amount of time and money over the past two years considering how to deal with our aging clubhouse. As promised, the Board, after much consideration and with significant input from its architectural and construction consultants, has proposed two plans. One contemplates a very substantial renovation of the existing clubhouse, and the other involves an entirely new clubhouse on the site of the existing one. Detailed information about each of these alternatives, including cost estimates, number of square feet, and the designs, have been made available to everyone. THE BOARD UNANIMOUSLY RECOMMENDS THAT ONE OF THE TWO ALTERNATIVE CLUBHOUSE PLANS BE APPROVED.

In order to have as fair a voting process as possible, you will be asked to vote in two steps as explained below:

In STEP 1 , you will be asked:

A. whether you are in favor of one of the two alternative clubhouse plans (either the SUBSTANTIAL RENOVATION or the NEW CLUBHOUSE), on the terms set forth in the Proxy under STEP 2; OR B. whether you would prefer to leave the clubhouse essentially as is, subject to those repairs, maintenance and modifications that the Board determines will be necessary to protect the health and welfare of the Members and Staff and maintain Frenchman’s Creek quality standards. (It is acknowledged that these much-needed repairs, maintenance and modifications will be expensive and may, therefore, require significant borrowings and/or assessments). In STEP 2 , regardless of how you voted in STEP 1, you will be asked to select which Clubhouse Plan you favor. Unless a majority of those voting elect to leave the Clubhouse essentially as described in Paragraph B of STEP 1 above, the results of the voting in STEP 2 will determine which Clubhouse plan is adopted.

Consequently, everyone is strongly encouraged to complete both STEPS 1 and 2.

Sincerely, FRENCHMAN’S CREEK, INC. Norman Barham President

FRENCHMAN’S CREEK, INC. CLUBHOUSE PROJECTS wEDNESDAY, FEBRUARY 17, 2021 LIMITED PROXY

The undersigned hereby appoints Martin Krall and/or Jeffrey Glazer as Proxy, with power to appoint his substitute, and authorizes her/him to represent me for purposes of establishing a quorum at the SPECIAL MEETING of Frenchman’s Creek, Inc., to be held on Wednesday, February 17, 2021, at 2:30 p.m., or any adjournment thereof, to exercise limited powers on my behalf and to vote on proposed Clubhouse Projects. The Special Meeting will be held at the Main Clubhouse and virtually on Zoom.

THE BOARD UNANIMOUSLY RECOMMENDS A VOTE FOR ITEM A IN STEP 1 BELOW

STEP 1

I am in favor of one of the two alternative Clubhouse plans (either the SUBSTANTIAL RENOVATION or the NEW CLUBHOUSE), on the terms set forth under Step 2.

A.

❒

I would prefer to leave the Clubhouse essentially as is, subject to those repairs, maintenance and modifications that the Board determines will be necessary to protect the health and welfare of the Members and Staff and maintain Frenchman’s Creek quality standards. (It is acknowledged that these much-needed repairs, maintenance and modifications will be expensive and may, therefore, require significant borrowings and/or assessments).

B.

❒

(Please check only ONE box above)

Regardless of how you voted in STEP 1 above, even if you voted for B, it is critical that you indicate your preference between the two Board approved Clubhouse Plans in STEP 2.

(PROCEED TO PAGE TWO TO COMPLETE THE PROXY)

PROXY – PAGE 1 OF 2

STEP 2

I favor the SUBSTANTIAL RENOVATION Plan which has an estimated cost of $39,988,024. I approve the Board moving forward with this Plan as long as the total cost of the project does not exceed 102% of this estimate. I also approve the Board borrowing sufficient amounts to finance this project, including interest and fees. (It is anticipated that such loan would be repaid by a combination of capital raising events, such as home sales, plus a special assessment currently estimated at $249 per month, per Parcel, for 180 months). I favor the NEW CLUBHOUSE Plan which has an estimated cost of $56,292,219. I approve the Board moving forward with this Plan as long as the total cost of the project does not exceed 102% of this estimate. I also approve the Board borrowing sufficient amounts to finance this project, including interest and fees. (It is anticipated that such loan would be repaid by a combination of capital raising events, such as home sales, plus a special assessment currently estimated at $424 per month, per Parcel, for 180 months).

A.

❒

B.

❒

(Please check only ONE box above)

PLEASE SIGN AND DATE YOUR PROXY BELOW

Member’s Signature:_____________________________________________________________

Print Member Name:_____________________________________________________________

Member Number:_________________________________ Date:__________________________

PROXY – PAGE 2 OF 2

VOTING INSTRUCTIONS

1.

MAKE SURE YOU HAVE VOTED IN BOTH STEPS 1 AND 2.

2.

AFTER CASTING YOUR VOTE, SIGN AND PRINT YOUR NAME, THE DATE AND YOUR MEMBER NUMBER ON THE PROXY.

3.

SUBMIT YOUR PROXY IN 1 OF 4 WAYS:

a. MAIL: INSERT THE 2 PAGE PROXY INTO THE ENCLOSED ENVELOPE TO OUR AUDITORS (BRANDON JORTH, DASZKAL BOLTON LLP, 2401 NW BOCA RATON BLVD, BOCA RATON, FL 33431);

b. FAX: TO DASZKAL BOLTON LLP AT (561) 750-3236;

c. EMAIL: A DIGITAL SCANNED COPY TO DASZKAL BOLTON LLP AT FrenchmansBallot@dbllp.com ; or

d. HAND DELIVER: INSERT THE 2 PAGE PROXY INTO THE ENCLOSED ENVELOPE AND DROP OFF AT THE POA OFFICE TO BE PLACED IN THE BALLOT BOX.

4. IF YOU VOTE BY MAIL, FAX OR EMAIL, IT MUST BE RECEIVED BY THE AUDITORS BY CLOSE OF BUSINESS ON TUESDAY, FEBRUARY 16, 2021.

5. BECAUSE OF RECENT MAIL DELIVERY DELAYS, WE ENCOURAGE YOU TO NOT WAIT UNTIL THE LAST MINUTE TO MAIL YOUR PROXY.

6. IF YOUR PROXY IS HAND-DELIVERED TO THE POA OFFICE, IT MUST BE RECEIVED BY 1:00 P.M. ON WEDNESDAY, FEBRUARY 17, 2021.

ONLY ONE PROXY PER HOUSEHOLD

PLEASE REMEMBER TO VOTE IN BOTH STEPS 1 & 2 SIGN AND PRINT YOUR NAME, THE DATE AND YOUR MEMBER NUMBER ON THE PROXY