HOLIDAY ISLE IMPROVEMENT ASSOCIATION, INC.

                       P.O. BOX 5467        SHORELINE VILLAGE MALL. SUITE 922      DESTIN. FL 32540

From: Scott Roberts, CAM Association Manager

On March 12,2007, a Short Notice Meeting was called by the Board of Directors. The purpose of the meeting was to discuss action to change the Protective Covenants and Restrictions.

On that date, I was absent, out of the state taking care of a family emergency. Consequently, I was not available to take written notes for preparation of formal minutes of the meeting. The members of the Board make an attempt to record the proceedings, using the Association owned tape recorder. Unfortunately, after turning the machine on and pressing the "RECORD" button, no one noticed that the microphone also had an "OFF/ON" button that was inadvertently left in the "OFF" position.

Upon returning to the office, I attempted to transcribe the minutes and found the problem. Accordingly, a 2^nd meeting was called, to be held on April 11, 2007, to affirm the proceedings and actions of the 1-1arch 12,2007 meeting.

Minutes from that meeting are located in this file under "April".