[APPROVED MARCH 14, 2006]

WALDEN POND HOME OWNERS' ASSOCIATION

Board of Directors Meeting – Feb. 27, 2005—Minutes

On Feb. 27, 2006, the board of directors of the HOA met for approximately two hours (7:00-9:00pm) at the residence of Donald Barry, 2 Durbin Place , Durham NC 27705 .

Present for this meeting: Laura Atkinson, HOA director

Donald Barry, HOA director

Edison McIntyre, HOA director

During this meeting, the directors discussed several issues in preparation for the HOA board's regularly scheduled monthly meeting on March 14, 2006. Among the issues discussed were the search for a new property agent to manage Walden Pond , creation of working committees among the HOA membership, and pressing maintenance and aesthetic issues.

The board agreed informally to authorize Ms. Atkinson to undertake repainting of the Walden Pond entrance signs on Finley Street and Wildberry Lane . Ms. Atkinson was also authorized to proceed with establishing an internet website for the Walden Pond HOA. The board members agreed that Ms. Atkinson would undertake these projects on a voluntary, unpaid basis but should be reimbursed for reasonable expenses for materials and internet fees associated with these projects.

The meeting adjourned shortly after 9pm.

Hereby submitted,

Edison McIntyre, acting secretary

March 14, 2006

Approved by majority vote of HOA board ___ Yes ___ No

March 14, 2005