1. Murray Lane Properties Common Facilities Association, Inc. Annual Meeting February 15 th, 2006

2. Agenda Introductions Approval of preceding meeting's minutes Association Overview Reports of Officers Reports of Committees Unfinished Business New Business Adjournment

3. Overview What Is The Murray Lane Properties Common Facilities Association, Inc.? A Tennessee non-profit corporation created in 1989 Establishes certain shared recreational facilities (i.e. the pool and pavilion) for the benefit of “Constituent Associations”  Originally no more than 250 lots nor more than 7 homeowner associations

4. Overview Ownership & Governance Two “Constituent Associations”: Highland View and Waterford Owners from each neighborhood are automatically members Each Association is entitled to appoint 1 representative (President or equivalent officer) Voting is Association’s allocated %

5. 2005-2006 Organizational Structure Murray Lane Properties Common Facilities Association, Inc. 2 Associations 107 homes Board Of Directors Highland View 81 homes / 76% Gil Hutchinson President Board Of Directors Waterford 26 homes / 24% Wayne Stephens President CommitteeSupport Pool Committee Lane Wilson, Chairman Langley & Taylor Pool Maintenance Taylor White Grounds Committee Pier deJong, Chairman Orange Appeal Grounds Maintenance Sean Orange Hospitality/Social Carol Horan, Chairman Westwood Property Management Hoil Crowe / Steve Pulk

6. 2005 Year In Review The big story from 2005 is that it was a quiet year!  No major repairs!  No damage due to vandalism! Planned renovations completed included:  Re-plastered the interior surface of the pool  Added second set of step Added some flowers and other landscaping Expanded social activities with Waterford

7. Treasurer’s Report- 2005 Reserves

8. Treasurer’s Report 5 Year Change In Reserves Change from $64,131 to $38,630 ($25,501) Drawdown relates to planned capital improvements:  Pool deck/pavilion floor resurfacing  Re-plastering of interior  Kiddie Pool resurfacing  2 nd step added  Fence repairs and upgrades  Improved lighting

9. Treasurer’s Report Expenditures Since 2000 Averages: $295/home $232/home (without pool repairs) Average: $31,538/home

11. 2006 – New Business Major capital projects are complete, except:  Roof (Should have at least another year)  Projects already in progress (lights and some landscaping) Opening day preparation (painting of doors and ceiling) Increase volunteerism / succession planning Increase social activities between Highland View and Waterford

12. Have Fun!