PALM WORTH
2850 South Ocean Blvd.
Palm Beach, FL 33480

Annual Meeting
February 21, 2012

ANNUAL REPORT OF THE WINDOW COMMITTEE:

The Palm Worth Window Committee, comprised of Chairperson David Hobson, Glenn Keller and Mike Moffitt, has prepared this report in response to the request of Board President Jim Apostolico. We were charged with several tasks:

Review the prior Survey reported in March of 2008 with a view toward examining particularly the porch windows rated 4 and 5 on a five point scale.
Conduct a survey of a sample of all of the porch windows to determine the extent of possible deterioration since 2008.
Review the summer window maintenance protocol in the light of findings from the survey and make recommendations accordingly.
Include John Self in the review process so that he may be informed of unfolding developments with the porch windows. John performs the summer maintenance program.

The committee examined all of the windows rated #4 four years ago, finding no additional deterioration. In addition, the committee conducted an examination of roughly half of all of the porch windows, also finding minimal deterioration occurring since 2008. We found zero windows in need of replacement.

We did find a few problems, all of which can be remedied this summer.
There are some breaks in caulking on the outside of first floor porch windows, no doubt caused by the irrigation system sprinkling cascading water over the windows. All of the first floor caulking should be inspected and replaced where cracked and broken.
Quite a few armetures are evidencing some rust. These should be scraped with a wire brush and rust resistant paint applied to the surface.
Some cranks were found inoperable or badly degraded and in need of replacement.
In window corners, primarily, we found some aluminum oxidation (pitting). Glenn Keller noticed this problem occurring on his windows three years ago and did the following to good effect: Scrape the oxidation off with a wire brush, sand the surface, apply some white silicone over the area. Glenn says this treatment has prevented any further deterioration. The Board may want to consider making this procedure part of the summer maintenance program.
Some windows were found with the bars still attached. The Board may want to consider whether or not to remove, the bars, treat the windows, and replace these bars.

The Committee noticed again what we have brought to shareholders attention previously, namely, windows which are not opened do not deteriorate, windows on lower floors have way more salt to deal with, and periodically washing out the salt with warm soapy water will do wonders for window preservation. SALT IS THE ENEMY!

Finally, we urge every shareholder to look carefully at your porch windows. If you find any matter of concern, please contact David Hobson, Glenn Keller or Mike Moffitt.

The good news is that our porch windows are standing up very well to the elements. They have not significantly deteriorated over the past several years. None require replacement. Some hardware needs replacement and maintenance is absolutely a necessity.

Thanks for your attention,

David Hobson
Glenn Keller
Mike Moffit

Palm Worth, Inc.
Board of Directors Meeting
Monday, January 16, 2012
Palm Worth Clubhouse
2850 South Ocean Blvd.
Palm Beach, FL 33480

CALL TO ORDER
Meeting called to order by Jim Apostolico, Board President at 2:35 PM
Board members present:
Jim Apostolico             President
Glenn Keller                 Treasurer
Tom Wallis                   Secretary
David Gerwig               Director
Juanita Leary               Director
Linda Brennan             Vice President was absent for the meeting

ROLL CALL
Quorum of the Board was present and verified.  Building Manager Robert Bucchere, LCAM, was present with Marcy Cresswell, LCAM along with several shareholders.

APPROVAL OF PREVIOUS BOARD MEETING MINUTES

Motion made by Tom Wallis that the reading of the November 15th, 2011 minutes be waived and approved, second by Glenn Keller and approved by all.
Treasurer’s report was given by Glenn Keller. End of November total in all accounts is $273,000; reserves – $ 179,847, prepaid assessments – $ 18,622, operating account – $74,764, net through November $10,311. Motion made by Tom Wallis to accept treasurers report, second by Juanita Leary and approved by all.

TOPICS OF DISCUSSION
Motion made by Tom Wallis to issue stock certificate to MaryLou Grinnell, second by Juanita Leary and approved by all.
Jim Apostolico announced that The Palm Beach Citizen Association annual meeting would be held  Friday January 27,2012 and that the preview of election meeting would be Wednesday January 25th, 2012.
There was a brief discussion of the pool leak. It was agreed that Robert would call Kate as well as Champion Pool to come check the leak and that the situation would be monitored until then.
Annual Meeting Update –   Jim Apostolico gave an update on the annual meeting. There are 4 positions available and 4 applicants so there will be no election. .   Discussed the possibility of having a quest speaker.
Motion made by Tom Wallis to appoint Marion Day to fill opening on the board due to Len Lilyholm’s resignation, second by David Gerwig and approved by all.
Permits – John and Shirley McKinney want permission to replace a bedroom window that will not close. There was discussion regarding “required” permits for future projects and whose responsibility it is to know the town requirements. Juanita Leary read a letter written by Linda Brennan regarding this (enclosure 1). Robert Bucchere read a statement and the job description of a LCAM.  The Board agrees that it is the licensed venders who should be knowledgeable in this area. Motion made by Tom Wallis to approve replacement of McKinney’s’ window subject to licensing and permits, second by Juanita Leary and approved by all. Motion made by Juanita Leary to approve future water heater installations by licensed plumber with permit subject to approval, second by Tom Wallis and approved by all.
Maintenance and schedule/hours – Jim Apostolico discussed Robert and John being out due to injuries and Marcy Cresswell and Kevin Brocious filling in. Jim proposes to the board that starting January 30, 2012 John be on the schedule for 18 hours per week and Kevin for 8 hours per week. This will allow someone to be here 6 days a week to include Saturday for an additional $50 per week. The cleaning person will also not be working after January. Motion made by Jim Apostolico to approve the above schedule, second by Glenn Keller and approved by all. A schedule will be posted three (3) weeks in advance.
Juanita spoke briefly  about the landscaping and  the replacement of Palm trees and removal and replacement of Hibiscus

SHAREHOLDER COMMENTS
There were a few questions from the shareholders. The board discussed at length the trashing of the clubhouse by young guests of unit owners. Many alcoholic containers were scattered about and evidence of drug use found. The toilets were stopped up and feces were on the floor. Motion made by Tom Wallis that Persons under the age of 21 may not use the clubhouse at any time unless they are accompanied and under the supervision of the unit owner, second by Juanita Leary and approved by all. This will be added to the amended House Rules.

ADJOURNMENT
Motion to adjourn at 4:25p.m.  made by David Gerwig, second by Tom Wallis and approved by all

Minutes submitted by:
Marcy Cresswell, LCAM
GEM Property Management
January 19, 2012

Enclosure pg 3.

PALM WORTH SUNRISE 12.20.09 (50 Minute Duration)

PALM WORTH SUNRISE 12.20.09 (50 Minute Duration)

Board Meeting MInutes 10.26.2011

August 1, 2011

Hello Palmworth Shareholders. I hope everyone is enjoying a wonderful summer. I wanted to keep you informed of the summer work at Palmworth, as well as the current financial situation.

As you know, it has been another busy offseason for the Board, and especially for Robert and John, who are working hard while we are away. All projects are moving along as scheduled.

The work on the Fire Alarm Installation is done and we are just waiting for a final inspection by the Palm Beach Fire Marshal. Glen Keller and his committee have done a great job overseeing this project for more than two years. His report is attached.

The North and South elevators have been refurbished for all of our safety and convenience. Although you may not notice much outwardly, the inside mechanical equipment has been updated and the doors replaced.

Carousel is replacing 30 of the concrete railing sections along our balcony walkways. All of the old sections have been removed and they have installed about half of the new ones. This needed improvement should be completed in 2 weeks, well before most of us return for the season. Hopefully a season with no noise of sawing and blasting concrete!

The landscape committee has been very active. Most notably, the gates around the pool will be powder coated soon after the other construction is done. Also Juanita has been looking at pool furniture options. Please see her attached report.

The parking lot will be recoated and relined around the end of August. Thanks to the efforts of Director David Gerwig this appears ready to go, and we will have our car wash area back again.

Glenn Keller has attached a financial report for your reading. Please remember that the Board has undertaken this year’s projects with no assessments, everything is being paid for out of the current maintenance budget and reserves. Thanks Glenn.

As I mentioned above, Robert and John have been busy. Robert’s report is attached on the summer’s work. Our thanks to him and John for their efforts in keeping Palmworth in great shape.

On behalf of the entire Board, I wish you a healthy, active, enjoyable summer. We are committed to keeping our home in Florida in the best condition we can, and believe it will be ready for a tremendous winter season for our 50^th anniversary.

Hope to see you soon,

Jim Apostolico

Board President

Palm Worth, Inc.

Board of Directors Meeting Minutes

Wednesday April 12, 2011

Palm Worth Clubhouse

2850 South Ocean Blvd.

Palm Beach, FL 33480

1. CALL TO ORDER

Meeting called to order by Jim Apostolico, Board President at 2:05 PM.

Prior to any other business being conducted, Jim offered sympathy on the passing of Jim Grinnell, and spoke kind words about him saying how Jim would be in everyone’s thoughts and prayers.

1. ROLL CALL

Board members present:

Jim Apostolico – President

Linda Brennan – Vice President

Tom Wallis – Secretary

Glenn Keller – Treasurer

David Gerwig – Director

Juanita Leary – Director is present via speakerphone

Len Lilyholm, Director, is absent from the meeting.

Quorum of the Board was present and verified. Robert Bucchere, LCAM, Palm Worth building manager, was present as were numerous Palm Worth shareholders.

1. APPROVAL OF PREVIOUS BOARD MEETING MINUTES

Motion to waive the reading of the minutes and that they be approved. (Wallis, Apostolico 6-0 in favor).

Jim stated that Palm Worth lost the court hearing regarding the King Coin laundry contract. Jim also stated that Palm Worth is not pleased with the outcome of the court hearing and that Palm Worth will have a named partner in our corporate law firm review the case. Treasurer, Glenn Keller also stated that we should have a partner review this outcome and we will work diligently to get out of this laundry contract.

4.  TREASURER’S REPORT

Treasurer Glenn Keller reports on the current cash positions of the Palm Worth bank accounts. He also reports that the 2010 audit has been completed and that any shareholder wishing to request a copy should let Robert know and he will provide one for them.

Glenn goes through some adjusting journal entries that were recommended by the auditors. At the present time, it is reported that (1) one shareholder is with the attorney for collection and that Palm Worth has received the first payment from the bankruptcy trustee for unit 208.

Motion to accept the Treasurer’s report (Wallis, Apostolico 6-0).

1. NEW BUSINESS
   1. Jim Apostolico officially welcomes Tom Oliff, who purchased unit 314, to Palm Worth.
   2. Gorman Trust Approval – Palm Worth 308 Trust dated March 27, 2007 Josephine Gorman and Patricia Rowan Trustees. Motion to approve Gorman Trust (Wallis – Apostolico 6-0 in favor).
   3. Nemirow Trust Approval – Valerie E. Nemirow and Samuel B. Nemirow Living Trust under revocable Trust agreement executed on 24 July 2003.  Motion to approve Nemirow Trust (Wallis – Brennan 6-0 in favor).
   4. Judy Brown Sale – Tom Wallis reports that the potential new owners will be interviewed at Palm Worth by Dick Wing, David Hobson and Robert Bucchere. Motion to approve (Wallis – Apostolico 6-0 in favor).
   5. Keller Kitchen Remodel – Motion to approve Keller kitchen remodel (Brennan – Apostolico 6-0 in favor).
   6. Gem Property Contract – Jim reports that the Board and Robert have agreed on a new contract for Gem Property Management through December 2012. Motion to approve Gem contract (Apostolico – Wallis 6-0 in favor).
   7. New Water Heaters – Motion to approve new water heaters for Donna Whitlock and Sue Stinson. (Apostolico – Keller 6-0 in favor).
   8. Jim speaks about the plumbing inspection reports that were completed and states that they will be given to all shareholders with any recommendations made by the plumber for each unit.

1. OLD BUSINESS
   1. Elevators – Work to begin in the first part of May.
   2. Railings – Jim speaks about the railing replacement to take place in the summer. Cost of the railings is $720.00 each and up to 30 railings may be replaced this summer.
   3. Insurance Renewal – Jim reports that our insurance policies have been renewed at a cost of $42,500.00; this is approximately $2000.00 less than last year.
   4. Parking Lot Resealing – David Gerwig reports that we will be adding 2 spaces with the relocation of the car wash and that we are considering a delay in the start of this project until the completion of the railing installation and elevator work.
   5. Fire Alarm Project – Glenn reports that the fire alarm project will be starting the first week in May.
   6. Windows and Doors – Jim reports that Kroll glass has provided some pricing and brochures on front doors and windows. The Board discusses the pricing, the type of door, etc. The Board to decide on the type of door/window to be chosen by the first fall Board meeting.
   7. House Rules – Tom Wallis asks each Director to review the House Rules and submit any recommendations for changes.
   8. Beautification Committee

• Palm Tree Removal – Juanita reports that 2 bids were received from and the bid from Jimmy @Sawgrass Services for $1705.00 is the one she recommends. Discussion entails yellow flowering tree or palm tree. Motion to plant the palm tree. (Apostolico – Wallis 6-0 in favor).
• Pool Furniture – Juanita speaks about the cost of replacing the pool furniture or refinishing it; the pool furniture will continue to be researched and possibly be purchased by the fall and the board agreed to powder coat the beach gate, the ocean entry gate and the pool gates. Motion to powder coat the beach gate, the ocean entry gate and the pool gates (Leary – Gerwig 6-0 in favor).

1. Palm Tree Donation Par 3 Golf Course – Motion to donate $250.000 to the Preservation Committee in the name of Palm Worth for the planting of palm trees and the Par 3 golf course (Wallis – Keller 6-0 in favor).

1. SHAREHOLDER COMMENTS

Mike Mellquist gives a report on the beach restoration by the Citizens’ Association.

1. ADJOURNMENT

Motion to adjourn at 4:05 PM. (Apostolico – Wallis, 6-0 in favor).

Minutes submitted by

Robert Bucchere, LCAM

April 18, 2011

March 1, 2011

Dear Palm Worth Residents:

I hope that you are enjoying another wonderful season here at Palm Worth. There are a couple of issues that I would like to bring to your attention.

1. As you know one of our biggest problems here is water where it is not wanted. We have had a few incidents of mold in our units and buildings. Please remember that it is your responsibility to maintain your unit and in doing so, keep moisture to a minimum. This would include such things as shutting off the water supply when you leave for an extended period and keeping your air conditioning at 78 degrees when your unit is closed for the off season. Make sure to check your plumbing lines on a regular basis for leaks, and let Robert or a member of the board know of any water intrusion from the outside. We need all of us to take this problem seriously, for the benefit of all of us.

2. As usual, this summer we will be doing some work around Palm W orth. The elevator will be completely overhauled, the parking lot seal coated and re- striped, the Fire Alarm System installed and some 25 sections of concrete railing replaced. We ask for your patience and cooperation during these projects so they can be completed in the off-season. Please check with Robert if you are leaving your vehicle in the parking lot as it must be removed when the work on the parking lot begins.

3. Shortly, the Board will have a plumber check all of the plumbing at Palm Worth. He will check each unit and advise us and you of any problems that need attention. He will check kitchen and bath plumbing, and the main shut off valves to each unit. Be advised that if your toilet is the original one installed and has not had the wax ring replaced, it has long outlived its usefulness and needs your attention.

Well, that’s enough about problems;

I wish all of you a wonderful season full of fun and sun.
Sincerely Jim Apostolico,  President