NOTICE OF SPECIAL MEETING OF THE BOARD OF DIRECTORS OF

PRESIDENTIAL CONDOMINIUM OWNERS ASSOCIATION, INC. (“Association”)

AT WHICH A SPECIAL ASSESSMENT WILL BE CONSIDERED

NOTICE IS HEREBY GIVEN in accordance with the Association’s By-Laws and Section 718.112, Florida Statutes, that a Special Meeting of the Board of Directors of the Association will be held in the Association’s Card Room located on the 2^nd Floor of 401 Ocean Drive, Miami Beach, Florida 33139, on Saturday November 22nd 2014, at 5:00 p.m.

A dial-in conference call number will be available for unit owners who can’t attend this meeting in person. Please email info@PresidentialSouthBeach.com or call (305) 673-4965 to obtain the dial-in number before 12:00 noon on Friday Nov 21 (the last business day prior to the meeting). This service is free to all unit owners of The Presidential, but please contact the office before the meeting if you wish to dial-in.

In addition to conducting the business described in the agenda provided below, the purpose of the Meeting is for the Board to consider and vote on whether to adopt a special assessment in the approximate amount of $100,000.00, which special assessment proceeds shall be used for the following purposes: Repairs to plumbing leaks, repairs to satisfy outstanding fire code violations and outstanding legal bills. Please note that the Special Assessment amount listed above is merely an estimate, and as such, the actual amount of the Special Assessment adopted and the expenses incurred for the categories described above may be more or less than the amounts specified.

If adopted, the owners will have the option to pay the Special Assessment in three (3) payments, or a lump sum, due on December 1, 2014. The estimated amount due per unit, choosing either option, is attached hereto as Exhibit “A”.

AGENDA FOR SPECIAL MEETING

1.             Call to order by President.
2.             Determination of a quorum.
3.             Proof of Notice.

OLD BUSINESS

4.             Update to fire code violation repairs
5.             Update on outstanding maintenance fees

NEW BUSINESS

6. Consideration and adoption of a Special Assessment by the Board of Directors for:
   • Install railing on driveway ramp
   • Fix leaky pipes in parking lot
   • Repair building exit signs
   • Outstanding legal bills
   • Repair fire doors
7. Requirements for service animals
8. Consideration and vote on remodeling of lobby, hallways and cardroom
9. Discussion and consideration of the association’s budget for 2015.
10. Adjournment