1. Murray Lane Properties Common Facilities Association, Inc. Annual Meeting February 21 st, 2007

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 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 Associations allocated %

5. 2006-2007 Organizational Structure Murray Lane Properties Common Facilities Association, Inc. 2 Associations 107 homes Board Of Directors Highland View 81 homes / 76% Robert Collins President Board Of Directors Waterford 26 homes / 24% Bob Schuchard President CommitteeSupport Pool Committee Lane Wilson, Chairman Langley & Taylor Pool Maintenance Taylor White Grounds Committee Mario Crucini, Chairman Pier de Jong Co Chair Rohling Lawn Care Ground Maintenance Daniel Rohling Hospitality/Social Carol Horan, Chairman Westwood Property Management Hoil Crowe / Steve Pulk

6. 2006 Year In Review The big story from 2006 were all the improvements made on our facilities!! New pool roof New pool roof New eaves and fascia board New eaves and fascia board Exterior of pool house painted Exterior of pool house painted Wrought iron fencing repaired and repainted Wrought iron fencing repaired and repainted Lights added to improve safety around pool entrance Lights added to improve safety around pool entrance New pool furniture New pool furniture Minor vandalism for the year Added some flowers and other landscaping Expanded social activities with Waterford

7. Treasurers Report- 2006 Reserves Favorabl e variance of $1,129

8. Treasurers Report 6 Year Change In Reserves Change from $64,131 to $39,335 As Of December 2006 ($24,796) Drawdown since 2002 relates to planned capital improvements: Pool deck/pavilion floor resurfacing Re-plastering of pool interior Kiddie Pool resurfacing 2 nd step added Fence repairs and upgrades Improved lighting New Pool roof Replaced fascia board and full exterior paint job of pool house

9. Treasurers Report Expenditures Since 2000 Averages: $295/home $231/home (without pool repairs) Average: $31,540/Year

10. 2007 Budget What The Covenants Say

12. 2007 – New Business Major capital projects are complete, except: Pool cover (recommended by Pool company and Pool Committee Chairman; Agreed upon by Waterford and Highland View Presidents) Pool cover (recommended by Pool company and Pool Committee Chairman; Agreed upon by Waterford and Highland View Presidents) Opening day preparation (painting of pool house interior and ceiling) Increase volunteerism / succession planning Increase social activities between Highland View and Waterford

13. Have Fun!