['On Assembly

Fourth Annual Meeting January 7, 2003, 7:00 pm

Creek Club at I'On Mf. Pleasant, SC

1. Call Meeting to Order

2. Proof of Notice and Establish Quorum

3. Welcome and Introduction of Board and Management

4. New Business: Amendment

5. Board Nominations from Floor and Election

6. Guest Speakers

A. Foreve r G reen I n c. B. ML Pleasant Fire Department C. The Very Reverend John Burwel! - Church of the Holy Cross D. Father John Breck - Holy Ascension Orthodox Church E. AtHomeNet F. Neighborhood Theater G. Mt. Pleasant Police Department H. Development Report .

7. Committee Reports

A. Boathouse Committee B. Finance Committee C. Communication Committee D. Landscape Committee E. Common Area Use Committee

8. Open Discussion

9. Announcement of New Board Members

10. Adjournment

r On Assembly

Amendment to the Declaration of Covenants, Conditions, and Restrictions

The I'On Assembly Board of Trustees, upon the recommendation of the Finance Committee, proposes the folio wing Amendment to the Declaration of Covenants, Conditions, and Restrictions.

A Real Estate Transfer Fee of %% of the gross sales price of any Lot, Real Property or of any additional property that may in the future be added to TOn wil! be paid at time of closing. Each present or future Titleholder of any Lot or Real Property, by acceptance of the deed therefore (whether or not it shall be so expressed in any such deed), snail be deemed to covenant and agree for himself, his heirs, representatives, successors and assigns to pay such Real Estate Transfer Fee upon the saie of such Lot or Real Property.

Specifics: * Only applies to resale of property and not to first time sales. • Does not apply to transfer of property between spouses or the relatives of

any trtleholders by gift deed, or court ordered transfer, assents to devisees and/or executors or administrators deeds pursuant to estate planning.

• Collected by the closing attorney or settlement agent at closing and paid to the I'On Assembly, Inc. within 15 days after closing,

* Fees collected shall be used at the discretion of the Board of Trustees in the best interest of the Assembly, such as: • Hoi d ing d own or red uci n g a n nual as sess ments • Funding capital reserves • Fu nd in g o perationa I b ud get shortfalls • Separate special fund set up for emergencies (i.e. hurricanes) • Any unpaid Transfer Fee is subject to Jate charges, interest, costs of

collection, and will be a lien against the property. • The Transfer Fee will be assessed to the purchaser.

The following neighboring communities currently have Real Estate Transfer Fees:

• Daniel Isfand i^% • Long Point %% • Molasses Creek V*% • Wild Dunes 14%

Candidates for the 2003 I'On Assembly Board of Trustees [two seats available)

Annie Bonk lives at 31 Eastlake Road. "She is a 2+ year resident of I'On and has a degree in mathematics. In addition to her 25+ years of banking experience, Annie has served as a member on various boards (Alumni Board of Governors of Lake Forest College, Quality Initiative Board at Northern Trust Co., Catholic Charities Budget Counseling, Volunteer Pool of Deerfield, and Distributive Education Clubs of America). After moving to Charieston, she was elected treasurer and then president of Charleston Yacht Club Auxiliary. Most recently, she serves on the I'On Boathouse and Finance committees. She has the time, skills and strong desire to work for the homeowners as a member of the Assembly Board."

Ed Clem lives at 167 East Shipyard Road. "As someone who has lived in a wide variety of towns and neighborhoods over my lifetime, I love the principles upon which f'On has been established, and would iove to see it continue to grow both dynamically and responsibly. I also recognize the need for the Assembly to function, through its Board of Committees, to protect the values inherent in this neighborhood, by managing the assets prudently for the collective benefit of the Owners and Residents. I have attended many meetings of the Assembly Board, and have served on the Finance and Management Committees, giving me some knowledge of the workings of these groups. I would love to see more I'On residents become active in the various committees called for in the Covenants, and, as a Board Member, woufd encourage such involvement. As an industry executive, i managed mufti mill ion-dollar budgets, so I am very familiar with the need for an organization to practice fiscal responsibility. I also have experience with consensus building among peopie with diverse interests, ideas, and opinions, and have successfully negotiated agreements between these groups, so I know the importance of dialogue and compromise. Should you entrust me with the responsibility inherent in Board Membership, ! promise to work tirelessly and diligently to help the Assembly realize the collective vision of every I'Onian -a beautiful, timeless, and vibrant community which we can all be proud to call Home."

Joe Halford lives at 64 Sowell Street. "Principal Consultant for Computer-Aided Engineering (retired) for the DuPont Company. Resident of I'On with my wife, Jane. I'On property owner since 1998. Mt Pleasant resident 1971-80 and 1991-present. We have three children, all grown, and two grandchildren. I am a physicist, a graduate of Univ. of SCT 1966. Jane and I have been supportive of I'On since it was in the planning stages. We love this community and want to see it well maintained and further improved. My interests tn the TOn Assembly Board will be to further reduce our costs without degrading the services. I am very strongly motivated toward limiting any increases in annual fees, and avo id ing s pecia I as sess me nts."

SEE REVERSE SIDE

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r ON ASSEMBLY 2003 BUDGET SUMMARY

0301 0307

O3O7Q0O1 0918 0320 0326

0430 0440 0443 0448 0445 0447 0460 04S4

0510 0511 0512 0513 0515 0620 0521 0522 0523 0529 0530 0540

0800

oeoi 0608

0910 0930 0920 0921 0924

REVENUES RqMarAaMurwto Intarasl Income Hanxt Interna Rssarw Fines & Lata Ctergae DeutfoporLoan Shared SentceReMMnornont Operating SwrAa, 2002 Total Revenues

EXPENSES Repairs ft Maintenance Wat fti mice & Repairs L»«fcC3peHaint«.Si«iplies Contract Landscape Mart Tree Ma t t . * Sta tes

Ltfa> uanananca hrtgrion Mania umce Interior Peat Control Dock MatreenancA

Total

General & Administrative Office St*>p*es Printing Pcetaga NawstanBre^Hnea UtamrfHcrnePage Legal Santas AuftSmfcaa Man^amart Santcee PrcCanwrtal Services Camtunay Manager tasunnce Ejtxnae **valMaettngExp

Total

Uffttte* Bectrictty Water&SaMw Tetaphone

Total

Other Expenses FtBpboament Reoervsa Oparaaria Contingency rodoral Jnccfiw Taw Stale Income Tax CttPirflp.TaK

Total

Total Operating Expenses

1 20,000 17.250 59.904 4/300

WJJOO 1,200

-4.044

* 700 500

1,200 1,200 900

2,500 1.400

39,980

-9,104 7,200

-

$ 41,250 6,000

380

$ 16,500

-6

45 -

$ 240.953 350, 120 500

5.000

--

$ 121,193

$ 61,684

$ 47,510

$ 16,551

$247,023

$247,023

TON ASSEMBLY 2003 BUDQCT COMPARISON TO 20JJ2 AND 2001

Ate«u«t

0301 034)10060

0307 03070001

0313 0320 0320 0381

0

0410 0430 0440 0443 044$ 0445 0447 0460 04$4 04A3

0310 0611 0612 0S13 0513 0520 ossi 0523 0523 0529 0530 0540 P641 osae osse

oaoo 05000001

0601 osos

ooio 0030 0020 0921 0624

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REVENUES RoQlita AWMOOTOfltl RaHiw Fund Conbtb lri«o«ttnoom« Wara* Inwro* R H M « Rna»4 L4*»Ot*r9aa OrxJcyr Lom

ShOTdStftUltlinbunaraaM AdmUpHfl ktc«*« Operaflng SwpiUS. 2002

Total FtavoflUH

EXPENSES KMMlr»aaUb*«ine4 Uttofcxtanc* Skf Naferi9Mffoo6 Rapoaa UndMBue IMnt. A Sta*iOM contact London* nut*. t n » HML 1 Huppdw Lite Menttftorm

Winw Pad Contnl D O C H M I M H H I C B

9gn MerMnanw Iota)

f > m M J * J M . * * - h — * - • * • — • " - • -

Ofto frippit PiHhg POabtja Hmnlrttn BBMTI—

kilHiMl ("flMtt+Para La^d Servtea* Audi Struicsa MarnowimU SancM Pnrinatanaj Sorvion CcflMIWntr Uanagar hfunMM & J H I

Annual Moating Exp SocUAdMOw Bad M M B q w »

*J 1 •••-••• •- I Total

law**, Ewctocfljy

BMCtnctty ' Sfawft

Tafaeat-/ ft 94)M*JJT

TMaphOM

TOW

flfj|LJfIP*ntft WfUC4nMr# RB0Gf>tt4 Opwuno Ccntfnoancy Fadani Income Tax

StMllKCimTax CM Prop. TAK Total

Total E X P M M *

HttPwemta

2001 Bwlgft | | 2101 Acuta BoefindLota

2*11334

» 144,000 3 3 2,405 3 s s $ $ i t 148.4K

3 I 5,504

$ * 43,158 3 X * 12.300 * 1,200 $ 6.e*s f * «»,0«7

9 624 3 * 000 * a.OM * e.soo 3 504 * 1,250 3 22.000 f

* 5 4.S00

* 2,500 3 9 3 47,382

5 0,000 1 * 11.004 3 300 * 29,384

3 3 6,540

$ $ » 100 » 5,743

$ 14MZ3 * Mrt

. . .

1 126J07 1 (3,098)

* 1,305 1 512

* (2.022) 3 30 3 C 111.339

3 1 10,005 * ii.sez 3 44,014 X 9.314

* no * tea $ s

r» s * 77.259

1 915 * 1,527 5 1,fl«2 J 420 I 6.414

1 1.200 S 22,500 3 $ t 3.M6 I * 435 9 4 * 10 $ 37,364

3 i«,oi»

3 200 » 5.267 1 1.109 * 21.723

3 3

3 370 3 27 5 91 i 473

3 137X4 * I1MI6]

20a2B«do»t| |20*2 Prajaettofl \ BtfJGad Lota

334M39

3 192,11*

3 (19,600) 3 500 3 1,200

3 16,000 3 730

» * 5,500

$ too.fas

% * 30,000 3 5.000 * 57,200 * 1.200 3 12,000 3 1.200 3 * 3.000 3 3 112.M0

3 700 3 SOo * 1.200 3 2,000 3 3,000 s 3 1.32S 3 33,660 5 S 9,104 3 5.000 3 3 3 t $ « o j a i

j 15.000 3 5 6.000 3 1.270 1 2127*

3 3 6,000 3 7 3 27 3 3 M M

3 JJW.OS 3

3 1 3 *' t 3 3 3 1 *

191.381

«00) 410

-1,100

15,000

---

i 9 i . n i

3 3 3 3 3 3 3 3 3 3 3

-15,600 4.500

54,007 300

10.008 1.S00

-4,150

-101.3M

3 3 3 3 3 3 3 3 i 3 3 3 3 3 * »

320 2.100 1.600

-3,250 4.000 1,326

ae.«o -

e.floo 5,460

----

33.443

I t 3 3 1

39.000

~ 5,300

200 43,300

3 3 3 * 1

-A

82 2

70

t t

2184f t

\njm

zoueuept Baaientf Lota

41QMS4

3 240,953 3 3 350 3 120 9 500 8 5,000

5 3 3

* 247J)23

I 3 20,000 3 17,230 9 60,904 3 4.000 9 14.000 * 1,200 3 9 4,044 3 * 121,133

3 700 3 600 3 1.300 3 1.20O 3 900 3 2,600 8 1,400 3 38.000 3 3 0,104 9 7J200 f 3 t

% % »1,«M

3 41,260 3 3 0,000 S 300 * 47410

4 15.500 3

3 6 t 45 3 3 18,331

| 247,023

*

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TON ASSEMBLY 2003 BUDGET COMPARISON TO 2002 AND 2001

Account

0301 OSO1O090

0307 03070001

0313 0320 0320 0351

0

O410 0430 0440 0443 0445 0446 0447 0460 0454 0463

0510 0511 0512 0313 0515 0520 0521 0G22 0S23 0520 0630 0640 OS41 0593 0599

oooo 05000001

0601 0505

oeio 0630 0620 OS21 0624

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REVENUES ftaQuw Aoaomaoit

Raaerve Fund Cortlno Intaratt Inooaia InJantt Inoom* RaaanvB Fata* & Lata Cttargat D w lopar Loan Sttarad Santo RatntMramwl Adwrttaaifl Income Optnrtig Swptoa. 2002

Total B * » MM*

EXPENSES itaMrteqffcftjjfffl •wntMMJK̂ swi Haintananon & Rapefea Lantacapa UakH. ( S ^ f i U Oaitad UaioacapoMNnt. Traa U B M . A Suppaa* ttatf Mtfntamara hrtoMton MaMwancB atiarfotf Pw*l Conuul Cairt Mntfrtananoo Ogn aUrtonanea Tata!

OMMtJlMtal f lMnrt lw Oftoe Suoptaa Pihtofl Pontage Haaiauai Eiyania inland Horn* Pan* Looal Service* AudttSorvfcn

HanaOanMnt Sarwtoaa PrctaataOrval SaniCaa Canmrtty Managar kttuanoa E^anaa Annual MMting Exp Soctal Adhotaa 8ndOaME*panta AdmkntamdhA Evan** Trim

UBttft C*^aa*tCit» |—4— ^ J ^ , , a^a J. ElaanC*Tjr ~ -%aiTP*lC WBtafASwar Talaptmne Total

g f i f t t f W " * * * RapJaMntartfRBaanaa Oparatno ConHngancy FadenHncomaTax Stata Income Tax OA Prop. Tax Total

Totaf Expana* NflPncetda

2*91 Bw«B44 | i 2001 Acuta! feflCncf Lota

S91Q34

9 144,000 8

8 2,485 3 8

* 3

3 3 $ 141.498

3 3 6.504

9 3 43.168 3 3 3 12,300 3 1.200 3 5.845 9

* 39J99T

3 824 3 3 BOO 3 £.004 3 8,500 3 504 3 1,260 3 22,600 3 3

* 4.500

3 2,500 3 3 $ 47.382

3 B.0O0 9 3 11.004 3 300 * 21,3*4

3 3 5,540 t t

3 100 3 1.744

3 1424123 3 3.373

9 125.207 9 (3.665)

9 3 1,300 3 512

3 (2.022) 3 30

3 * 121,119

t 3 10,008 3 11.692 3 44.614 3 9,314 3 900 3 105 3 3 8 3 $ 77.281

9 315 8 1,527 3 1,562 * 420 3 5,414 3 3 1.200 8 22,500 3 3 3 3.858 3 3 436 3 4 * 10 3 37454

3 16,010 3 208 8 6.W7 3 1.106 » 21.T23

t 9 9 370 * 27 9 31 $ 471

I 137.444

» PM")

2012 Badgttj J2M2 PrajatSo* j eagn-ndLntt

334/430

9 192,11$

3 (19,500) » 900 » 1,200

» 19400 1 790

3 % 8,500

* MOJJM

3 3 20,000 3 5,000 9 67.200 3 1.2O0 3 12.000 3 1.200 3

3 OjPOO 3 1 112,80*

3 700 * 500 3 1.200 3 2,000 * 3,000 9 9 1.325 3 35.960 3 3 9.104 9 O.OOo 9 9

3 3

t «0.73»

3 15.000

i t 6,000 3 1,270 * 2137*

3 3 s.ooo 3 7 3 27 3 f 6.4*4

3 JO»,«a3

J

3 191,381 3 (,16.500) $ 410 3 3 1.100 3 16.000 3 3 3 t 132.351

3 3 15.650 t 4,600 3 04,507 8 300 8 10,905 3 1.SO0 3

3 4.160 3 3 101.315

3 320 3 2,100 3 1400 3 3 3.250 3 4.000 3 1,326 3 36,600 3

3 0.500 8 5,400 3 3 3 9

$ 53,441

3 38,000 9

t 5,300 1 2O0

I 43.300

9 8 8 3 52

3 2 * 7*

t 2*8430

* ( 1 6 4 " )

TMJBfldfBt BagVEndloto

43W494

1 240.363 3 3 350

3 120 3 000 9 5,000 3 3 3 $ 247423

3 3 20,000 3 17,260 3 69,004 3 4,000 3 14.500 9 1,200

3 3 4.044

* 121,1*8

3 700 3 600 3 1,200 3 1.200 3 900 9 2,600 3 1,400 3 30.000 3 3 8,104 9 7,200 8 8 3 3 * 61.564

8 41,260 3 3 6,000 3 300

1 47,819

3 19400 3

3 0 3 45 9

3 H4«1

8 247413 3

'On Assembly

Amendment to the Declaration of Covenants, Conditions, and Restrictions

The J "On Assembly Board of Trustees, upon the recommendation of the Finance Committee, proposes the following Amendment to the Declaration of Covenants, Conditions, and Restrictions.

A Real Estate Transfer Fee of %% of the gross sales price of any Lot, Real Property or of any additional property that may in the future be added to TOn will be paid at time of closing. Each present or future Titlehorder of any Lot or Real Property, by acceptance of the deed therefore (whether or not it shall be so expressed in any such deed), shall be deemed to covenant and agree for himself, his heirs, representatives, successors and assigns to pay such Real Estate Transfer Fee upon the sale of such Lot or Real Property.

Specifics: • Only applies to resale of property and not to first time sales. * Doe s n ot apply to tra n sfe r of p rc perty between s pou ses or th e reJative s of

any titleholders by gift deed, or court ordered transfer, assents to devisees and/or executors or administrators deeds pursuant to estate planning.

* Collected by the closing attorney or settlement agent at closing and paid to the TOn Assembly, Inc. within 15 days after closing.

• Fees collected shall be used at the discretion of the Board of Trustees in the best interest of the Assembly, such as: • Holding down or reducing annual assessments • Funding capital reserves • Fundingoperationalbudgetshortfalls • Separate special fund set up for emergencies (i.e. hurricanes) • Any unpaid Transfer Fee is subject to late charges, interest, costs of

collection, and will be a flen against the property. • The Transfer Fee wili be assessed to the purchaser.

The following neighboring communities currently have Real Estate Transfer Fees:

• Daniel Island 34% • Long Point !4% « Molasses Creek 14% • Wild Dunes >i%

8

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WHAT YOU NEED TO DO: We specifically need you to set up your family's profile now, to make the site more useful to everyone. To do this:

13

O O ~%o$kj& Residents Living in I'On News or Whatever . ^ r k a D

RLII...Now (really...now) ^ ^ S t ^ H

Volume Hi, No. 12A December 2002 ^r™§©» a

g FOR IMMEDIATE RELEASE g

o Preview Now Available for NEW... lonCommutlity.COm 8

0 Mt Pleasant, SC December 10,2002: A preview version of the new ionconammunily.com O web site was released by the I'On On»Line Team today, ready for you to drop by for a visit. The O new web site is now available for preview at www.ioncommunity.com. Like I'On, we're still O g "under construction", but please browse now to see how its shaping up. g

O New Features: ©

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5 * Easiest access ever to Monthly Neighborhood Newsletter | | • I'On Directory with updated and expanded information - can include children's names, ages &

ODoaQDO&oeiQaoaaad i3d t3 t io0 t iQo»ot ioaaaODaooao»oooaQaoaooa

http://ionconammunily.comhttp://www.ioncommunity.comhttp://ioncommunrty.commailto:itv@comcast.nel

I'On Assembly

NOTICE OF FOURTH ANNUAL MEMBERS' MEETING

December 11, 2002

Dear Neighbor,

The annual I'On Assembly meeting will be held January 7, 20Q3 at 7:00 pm at the Creek Club.

Please take a few minutes to review the materials enclosed in this packet. They include instructions on using the new website, minutes from the 2002 Annual Meeting, agenda for the 2003 Annual Meeting, 2003 budget as approved by the Board, your 2003 assessment bill, slate of candidates for 2003, and the proxy/ballot for the candidates and proposed amendment to the Declaration of CCR's. There are two positions available on the Board. In addition to the candidates listed on the proxy/ballot, we will be taking nominations from the floor at the meeting.

The enclosed proxy/ballot is divided into two portions. Please complete both the proxy and ballot portions, choosing two candidates and voting on the proposed amendment, and return it in the enclosed self-addressed stamped envelope ONLY if you do not plan to attend or if you are not sure you will be able to attend. If you are definitely attending the meeting, please do not return the proxy/ballot. You will be given a ballot when you sign in at the Annual Meeting. There is oniy one ballot for each tot owned in the Assembly.

The reason that we ask you to return the proxy/ballot if you are not planning to attend the meeting is so a quorum can be established. If a quorum is not met, the meeting will have to be reacheduied, resulting in unnecessary expenses to the Assembly. If you cast your vote with the proxy, make sure yotj til! out both the proxy portion and the ballot portion correcrjy. If your vote is indicated on the ballot and the proxy portion is not completed, your ballot wifl be invalid. If you vote for more than two candidates, your ballot wifl be invalid.

Thank you for your continued interest and involvement in the Assembly, Should you have any questions regarding anything contained in this Notioe, please feel free to contact our office at (843) 849-7062 or jerry_driggers@ccmcnet.com for assistance.

S. Jen/priggers, CAM Community Association Manager For CCMC, Managing Agent

mailto:jerry_driggers@ccmcnet.com

Jan 21 2003 8:QlflM HP LASERJET 3200 P - l

r ON ASSEMBLY 2003 BUDGET SUMMARY

•̂ .̂

0301 0307

03070001 001B 0320 oaaa

D43C 0440 0443 0448 0445 0447 0460 Q454

REVENUES Regular Aeeaaamanta Intere*! Income Interest Lrccrne R B M T V M Fines & Late Ctarge? Developer* Corkfibutton Shared Sarvice flBimfcurBMnant Operating SuFfHin, 2002

Total Revenues

EXPENSES Renal ra & Maiimananea Maintenance a Ftapem Landscape MaJM. 1 Slippies Contract Lanovcape P4ajr>t

r i £ 22t,9SO

i 1 900 1 i.200 ! fflo 1 12,COO

I i

1

: : J 20,000

4.800 60,000

Tree Mar*. & Stjppltm i 1,2GQ Lake Mairrmnc* irnAaHari MsnMnancB Irrtwtaf Pet* Control i DwttMwiteimtcB

Total

0510 0511 0312

"•"5513 C515 0520 0521 CS22 CS23 C529 0530 0540

G«rlaraJ_& AAmnrstrstove omc* supputa Priming Pottage N«wsttfla/^xD«ra* Internal Home-Pege Logal Serve** Audit SeWlCM Management Service! Profaaaanal Services Cflmmuney Manager Insurance Eflpenae Annual Meeting Exp

Total

UWBtfes osoo Eitcftneity 0601 0606

Watef SSewef Telephone

I Total

0910 " «do

0920 0921 533T

12.0O3 1.200

-'"'"" e.offl"

3 70Q soa

$ 105,200

$23S.3S0

(

1 i i

1 20C I 2.00C 3.000,

-I 325

35.960 -

3,104

i i I

7,200 i

: t 61,389 I

I

; $ 41.250 9,000

360

1

Repereemenl Res*fVB9 Operating Cortnganqr F*danf income Tax Slate Income; Tex CM Prop. Tex

total i

Total Operating Expenses !

* fe.soo 5.000

6 «5

-

1 1 1

* 47,610

,

$ 21,531

$236,350

>s,--

Psg* 1

J a n 2 1 2 0 0 3 Q i O i f l l l H P LASERJET 3 2 0 0 p.e

I

21

J ^ 21 20G3 8-OlAfl HP LASERJET 3200 p.3

1

o 8

V ^

I I !

«

si

P

i I "T

4-4-

I I 1 I

N a M ill J. as

! I '

i

I :

; i i

1 i .:

i ! i

i i I

i

M

m

v

m

&

taJ m

.i

Jan 21 2003 S:Qll=IH HP LASERJET 3200 P-4

I' ON ASSEMBLY 2003 Budget Comparison to 2002

0301 0307

03070001 031 a 0320 032S

0

REVENUES R earner l u n t n w a Interest Income

I w i K J O O e T

aaSLois 1

Interee! Income RaiarvM

S 181.113 000

2003 PROJECTION 2001 BUDGET

] AOQLote 1 Lois 1 ?

tJOO ' Fine* & Late Chenw OewalapaiB Contributor Shared Servtco Rwmburaefnt-4 apefaHng Surplus. 2002

Total Reverrues 1

04311 0440 0443 044B D445 3447 0480 34S4

EXPENSES Repdrn * MfflntenarrM WeWterwie* 4 Repeui Landfecaoe M « n t a 3uO#*«« Connect L* idK*oeMein

31/11/2003 11:39 8132259060 FLOYD LAW FIRM PAGE! 01

THE FLOYD LAW FIRM PC P, O. DRAWER 14607

15 HIOTMUf 17 SOUTH SURFSIDI BEACH, SC 29575

DATE: J a n u a r y 1 4 , 200 3

PLEASE DELIVER TO THE FOLLOWING PERSON(S):

NAME: JERRY MATTHEWS

LOCATION: CCMC

FAX NUMBER:843-946-9494

THIS FACSIMILE IS BEING SENT BY: TOMMY H. HALL

PHQNE NUMBER: {843} 2 3 8 - S 1 4 1 FAX NUMBER: (843) 2 3 8 - 9 0 6 0

DESCRIPTION: COPY OF ARTICLE XI , SECTION 1 1 - 1 0 2 OF RESTRICTIONS OR I'ON AMD SECTION 3 3 - 3 1 - 7 0 8 (ACTION BY WRITTEN BALLOT} FPOM THE NONPROFIT CORPORATION ACT.

MESSAGE: PLEASE LET ME OR MR. FLOYD IF YOU SAVE ANY Q U E S T I O N S . ALSO, PLEASE CONTACT US IF WE CAN A S S I S T YOU IN PREPARING THE DOCUMENTATION TO BE SENT TO THE "ELIGIBLE" TITLE OWNERS.

Number o f p a g e s i n c l u d i n g c o v e r s h e e t ; THKFE (3?

P l e a s e c o n t a c t FANNY a t (643J 2 3 8 - 5 1 4 1 i f you h a v e any p r o b l e m s r e c e i v i n g o r i f t r a n s m i s s i o n i s n o t c o m p l e t e ,

ORIGINAL TO BE SENT BY; REGULAR MAIL: CERTIFIED MAIL: UPS OVERNIGHT: WILL NOT BE SENT: X

ItOOttTAWT HOTZ: I n f o x n e t i o n conta ined in t h i a f a c a i e a l e measage i « a t t o r n e y p r i v i l e g e d and c o n f i d e n t i a l information intended only f o r t h e use of the i n d i v i d u a l or f irm named above. If the reader of t h i a meaaage i a not t h e intended r e c i p i e n t , you ere hereby n o t i f i e d t h a t any d i • s e m i n a t i o n , d i s t r i b u t i o n or copy of t h i a communication i a s t r i c t l y p r o h i b i t e d . I f you hava r e c e i v e d t h i » communication in e r r o r , p l e a s e n o t i f y ua immediately by te lephone at {843) 238-5141 and return t h e o r i g i n a l aw aaage to the above addreaa v i e tha U.S. P o s t a l S e r v i c e . Thank you!f

01/14/2003 11:39 B4323090&0 FLOVD LAW FIRM PAGE 62

'. meant

than ot igt ft DM, * in cffe

xrate, v or a

A record date for determining what members are entitled to notice or r>'fOfB ** * meeting of members may be effective for an adjourned meeting [provided the adjourned meeting is no more than 70 days after the record date for determining members entitled to notice of the original meeting. foe board may alwayi fix a new date for determining member? entitled to notice or vote at an adjourned meeting provided it does so in good faith in g manner consistent' with its obligation* under section 8.30.

SOITTH CAROLINA REPORTERS* COMMENTS Hijs section ia substantially the same as Section 33-7-107 of the Business

Corporation Act, except that (i) it deals with notice, voting, and other rights Jn three separate subsections; and (ii) it provides for membership action in default of director action.

The one hundred twenty-day time period of subsection {«), which measures the length of adjournment after which a new record date must be •et, is a variation from the Model Act. The variation was made so that the time period would match that of Section 33-7-107 of the South Carolina Business Corporation Act.

Action by written baJlot. Section 33-31-708. (a) Unless prohibited or limited by the articles or bylaws, any ^action

that may be taken at any annual, regular, or special meeting of members may be taken without a meeting if the corporation delivers a written ballot to every member entitled to vote on the matter.

(b) A written ballot shall: (1) set forth each proposed action; and (2) provide an opportunity to vote for or against each proposed

action. (c) Approval by written ballot pursuant to this section is valid only

when the number of votes cast by baJlot equals or exceeds the quorum required to be present at a meeting authorizing the action, and the number of approvals equals or exceeds the number of votes that would be required to approve the matter at a meeting at which the total number of votes cast was ihe same ai the number of votes cast by ballot.

B1/U/2BB3 11:35 B^ae^BSB ICMC

FLOYD LAW FIRM

C 2S7FG307

PAGE 03 r - - -

\ to the Tilkholdrr'i «n«e, SUTV vine spottw or child upon the iWth o f * . TitUoeld«T:

to. M entity wholly awocd by tjw panttw; provided, upon any :ut»c

Rule Enforcement Procedures Of the TOn Assembly

The most effective and desirable means of regulation enforcement is voluntary compliance. Common courtesy and concern for others goes a long way to maintaining a harmonious community. Therefore, when a neighbor objects to a condition, action, or event caused by -another neighbor's actions or inactions, the initial step to resolve the matters) should be a discussion between both parties leading to resolution.

However, when deemed necessary, any owner aware of a violation of the Association's rules and regulations may notify, in writing, the Board of Directors concerning the violation. This written notice may be by letter, iax, or e-mail to the Assembly manager who will either handle the issue directly, or bring the concern to the Board for action.

IFBoard involvement becomes necessary, the following procedures will be followed:

1. The Board will review the mailer and, if agreed to by a simple majority, Board members will be selected to discuss the matter with the owner to obtain corrective action.

2. If the violation continues, the Board of Directors will send a written notice and assess a S50fine.

3. If no corrective action follows, a second letter will be sent and a fine of $ 100 assessed. The second notice will provide the offender an opportunity to appear before the Board to explain justification for the violation and why the penalties should not be assessed.

4. Subsequent disregard of the Board's decision will result in an additional fine of $250 and a lien against the property if the penalty is not paid within 30 days.

2003 Assembly Goals:

(1) Enhance the level of credibility between residents and Assembly management by proactively communicating and delivering the level of service expected of residents;

(2) Organize and refine the Assembly committee system to facilitate bottom up involvement from residents who are interested in taking a more active role in the neighborhood's management;

(3) Elect two and appoint one new member to the Board of Trustees;

(4) Manage finances to achieve a net budget surplus that can be applied to reserve accounts; and

(5) Position the Assembly so that it requires less involvement from The I'On Company.