Owners and Guests:

Please be advised that as of 3-19-12, the Atlantic Terrace Board of Directors has made revisions to the Sales Program, Rental Program, and the Right to Use Option. The documents found in the first newsletter sent to owners in February, 2012 have been up-dated and the new versions can be found as posted on the Atlantic Terrace Website. Please be sure you read and review the new provisions in these documents as the January, 2012 newsletter documents are no longer in effect. The new documents will have REV 3-19-12 at the bottom.

Highlights for the new up-dates are as follows:

Sales Program – All weeks (1-52) will now be offered for RTU at $500 with a 25% discount to owners and immediate family members. This group would pay just $375 for an additional week plus the next year’s maintenance fee ($650). This sale will continue to be offered for a limited time.

Rental Program – All Association rentals will now require a 25% deposit (replacing 50%) and a (30) day non-refundable deposit (replacing 60 day). All owner rentals will now allow the owner to determine their own rental rate, their own deposit amount, their own deposit time limit, and either rent the unit on their own and/or hire an agent. All of the Association Rental Rates and other guidelines are now posted on an easy to read document in table form.

Right to Use Option – New language has been added to this document to indicate that the Right to Use fee of $500 now applies to all weeks (1-52).

It is the intent of the Atlantic Terrace Board of Directors to monitor our programs at Atlantic Terrace

and make necessary revisions to our programs as needed. We want to do everything we can to address our owners’ needs in making our resort inviting and comfortable. As mentioned in the last newsletter, we are making all attempts to listen to your ideas and suggestions on how to make our resort a better place to visit.

Submitted by Larry Longman – Communications Committee

Owners and Guests:

A reminder to please check the Atlantic Terrace website at atlanticterracecondo.com on a regular basis for up-to-date information on news/developments at our resort. The Board will be very busy in the next two (2) months, with the intent to keep our owners/guests informed. The members of the Board will be working on all of the important items here at AT as we work on external and internal improvements. Once you are on the website, OWNERS INFORMATION is another area to check

The password should be available to you in our newsletter. This password is case sensitive, so make sure you use capital letters and lower case letters as needed. There may be times we will be posting information in this area, to be accessed by owners only, so be sure you keep the password in a secure place.

On another page of this newsletter and/or on the AT website, you will find a listing for new unit pricing. Be sure you made note on the AT Unit Pricing list that current owners in good standing and their immediate family members are eligible for a 25% discount on purchases for (90) days. The unit weeks may go fast so be sure you are checking the website for available units as inventory may change on a day to day basis. Also, rental guidelines will be changing for unit owners making it not only more appealing for you to rent your unit week, but will also allow you to rent extra weeks at a great price. In addition, the members of the Board will be working on new rental rates for guests, and is planning to publicize the rates sometime in February, 2012. Our intent is to make these rates more appealing to responsible guests desiring a beautiful condo right on the beach, and one that they can afford for all members of their family.

The Board, in developing new pricing for unit weeks, will also be looking at new ways to explain to our buyers/owners the RCI Program. In addition to owners, the RCI Program will also be available to buyers who obtain a “Right to Use” week. Even if you bought unit weeks years ago, you need to hear the exciting new developments by RCI. You can turn a (1) week purchase into (2) or more weeks vacation time at any time of the year. Buying a week now at AT and using the RCI Program means you are also buying points, which permits you to multiply your opportunities to relax. Many school corporations, throughout the country, are moving away from the traditional June, July, August vacation period, allowing families to travel at almost any time of the year. Now, it may not be so critical that you have to buy only the week you are available – you can buy a different week and trade for the one you need by using the RCI Program.

As many of our present owners, immediate family members, and guests will begin the year 2012  vacationing at Atlantic Terrace, the Board requests that you follow-up your experiences at AT by asking  you to contact members of the Board directly. Our email addresses can be found next to our names and we look forward to making sure the resort meets your highest expectations at all times. The members of the Board have worked very hard on getting involved at the resort, and, we want to be sure you are pleased with the steps we are taking to make improvements at AT.

The members of the Board wish to thank all of our loyal and faithful owners for giving us, the newly elected Board members, along with the re-elected Board members, the opportunity to make necessary changes here at our resort. This Board has a passion to make our vacation home a place to be proud of, a place to create lasting memories, as you enjoy your visit at Atlantic Terrace Resort.

Submitted by: Larry Longman, Communications Committee

New Entry way to the garage and parking area (January 2012)  Entry way completed as part of city revitilization of A1A (January 2012

New Entry way to garage and parking area (January 2012). Entry way completed as part of city re-vitalization of A1A. (January 2012)

Dear Atlantic Terrace Owners and Guests,

I would like to express my appreciation for everyone’s patience during these difficult times at Atlantic Terrace.  I know how frustrated some owners have been during the construction/renovation of the building.  The jack-hammering and all inconvenience experienced during this work period, however, was necessary.  I was at the Atlantic Terrace later October for the annual board meeting and the work that has been completed is impressive. The building is looking much better every day. We have encountered our share of problems and unfortunately, the Engineer has found further deterioration on the building, but as reported it is not major.  Although, we are not complete with the construction, you can definitely see that the building is beginning to shine as the gem we all hope to see revealed.

The newly elected Board of Directors has also been looking at some items that we could renovate/upgrade inside of the rooms which is not a part of the reconstruction process.  These items include such things as kitchen countertops, upgrading the lights to give a more modern feel in the rooms, and renovating bathrooms in each unit.   The installation of Wi-Fi services in the building has been a major concern of owners and guest, and as this publication is underway, so is the installation of Wi-Fi throughout the building. Hopefully by your next visit to Atlantic Terrace it will accessible from your unit.

There have been ongoing communications between the Board of Directors and Management, sharing ideas and brainstorming, thinking of creative ways to update the website.  The website is currently being updated and the Board’s goal is to have monthly construction updates and “What’s Happening” available to our owners.  We want to use the website as a communication tool so that all owners, board members, and the management staff will be kept well informed.   There has also been the creation of committees to investigate possibilities of increasing revenues for the condominium, updating the “current” by-laws, increasing communication between owners, board members, and management.   The committees will also look at adjusting pricing on current HOA (owned by the Association) units that are for sale, for rent, and a new program that we are introducing called “right to use”.  If anyone is interested in contacting the chairpersons involved with the committees, please refer to the committee designation notice located in this newsletter. If anyone has an idea to upgrade the units, please let us know by contacting any of us through our emails (listed on the Atlantic Terrace website) or by informing the Front Desk staff.  We welcome suggestions.

I hope everyone enjoyed a safe and happy holiday season and are looking forward to an enjoyable stay at your Atlantic Terrace Condominium.

Sincerely,

Frank O’Keefe

President, Atlantic Terrace

Owners and Guests:

Please be advised that this website provides the most recent update on conditions at Atlantic Terrace (AT).  The reviews presently found on the RCI site from individuals are from 2008, 2009 and 2010 and are out-of-date.

The resort presently has all new sliding glass doors installed in every unit.  The new doors have helped to keep water out during the severe rains this year.  King mattresses have been replaced in all master bedrooms.  New couches and sleeper sofas have replaced the older furniture.  The front entry has new tile and the building has had new exterior doors installed.  New landscaping has been completed around three (3) sides of the building.  The parking garage has a new access door for auto entry.  Outside bathrooms, in the pool area, have had new tile and new fixtures installed.  During maintenance weeks, room interiors will be touched up/ repainted as needed. New flat screen televisions are replacing the older TV’s, as needed.  A new generator has been installed, which is computer operated.  All stairwell doors have been stripped, primed and painted.

Construction activity continues at AT with concrete repairs on the balconies and new railings being installed.  The workers are doing their best to keep inconveniences to a minimum for owners/guests staying in the building.  It is hoped that construction will continue on schedule. The pool has remained open throughout this time while the weather has been warm. When the weather gets cooler, the remaining exterior work is expected to be completed on the A and B units.

This major reconstruction project at Atlantic Terrace was approved by the AT Board in October, 2010.  The Board and the Management Company (Atlantic Shores Mgmt.) will continue to work for our owners and guests in striving to make Atlantic Terrace your #1 resort destination.

Submitted by: Larry Longman

Communications Committee

All of the balcony doors in the A and B units have been replaced.  There is still some outside finish work to be accomplished on these units.  This will be done during the exterior waterproofing and painting phase

The new replacement balcony doors for the C units have been delivered on site. Preliminary work in sounding out any structural damage has been completed on all of the C units.  Staging is now completed and installation work has begun.  We apologize for any inconvenience this work and its accompanying noise may cause.

GOOD NEWS!  Daytona Beach has recently experienced what the Weather Channel calls extreme severe weather.  The rain and wind were near torrential.  NOT A SINGLE ONE OF THE NEW DOORS IN THE A AND B UNITS LEAKED !!

IF YOU PLAN ON BANKING YOUR WEEK(S) WHETHER SPECIFIC CALENDAR WEEKS OR POINTS, ALL FEES INCLUDING MAINTENANCE, TAXES, AND SPECIAL ASSESSMENT MUST BE PAID TO THE ASSOCIATION FOR THE YEAR YOU ARE BANKING PRIOR TO YOUR BANKING THOSE WEEKS OR POINTS.

FOR EXAMPLE, IF YOU ARE PLANNING TO BANK YOUR WEEK(S) FOR 2012, ALL FEES FOR THAT YEAR MUST BE PAID PRIOR TO BANKING

*** CONSTRUCTION UPDATE REPORT ***

FEBRUARY 7, 2011

As many of you know, the garage gate was severely damaged when someone ran their vehicle into it. The gate could not be repaired.  We were advised by the insurance company that we were not to attempt to replace it before a settlement was made or they would not pay for it.  Once the settlement was made , a new gate and operating mechanism were ordered.  The new gate has now been installed and is in full operation

The emergency power generator failed. When the building was originally constructed some 22 years ago, the contractor apparently installed a used generator.  Replacement  parts are no longer available.  A new generator was ordered and finally shipped from California.  There was a need to transfer the generator to another truck when it reached Atlanta.  During the transfer, the generator was dropped and damaged forcing us to have another new generator manufactured.  This was done.  The generator was successfully shipped, and is now installed and operational.

Replacement of the sliding balcony doors has begun.  The new and improved door assemblies have been installed in the following units.

1A, 1B, 2A, 3A, 3B, 4B,

6A, 6B, 7A, 7B, 8A, 8B

Currently under way

4A, 2B

The remaining A and B units will be completed over the next several weeks as weather and occupancy permits.  Unfortunately, this has not been a simple remove and replace process.  Due to unforeseen ocean front weathering damage to the surrounding entrance structures and uncompleted work by previous contractors, several entrances required two to three days to complete instead of one.  The professional engineer that we engaged to oversee the entire project is making weekly inspections to ensure that all work progresses according to spec and code.

In conjunction with the door replacements there are some minor interior repairs required.  These are being accomplished by our staff as time and occupancy permits.

Painting of the units is also underway. Painting in the following units has been completed

1A, 1B, 2A, 2B, 3B, 4B, 6A

7A, 7B, 7C, 8C

As with all other work, painting will be completed as time and occupancy permits.

Some new sofas and love seats have been received and are in place on the 5th, 6th, 7th, and 8th floors.  The remaining furniture should arrive toward the end of February.  Delivery has been delayed by the many snow storms to hit North Carolina where the furniture is manufactured.

Kim and her staff have created a pleasant beach scene between the pool/beach access door and the pool itself.  New post lamps have been installed along the path.

Dear Atlantic Terrace Owners and Guests,

As 2010 draws to a close, we are all well aware of a few aggravating problems that have concerned the resort over the past year or so.  With this in mind, the Board  entered into a contract with a registered professional engineer who surveyed the building, prepared specifications, solicited bids, reviewed the bids, and made his recommendations. Based on his recommendations, the Board has now entered into a construction contract to accomplish the recommended work.

As part of the contract, all of the balcony doors will be replaced with an American made product with a strong ocean side track record.  All of the balcony railings will be replaced also with product of proven ocean side track record.  The weather and atmospheric damaged concrete areas will be repaired.  New water proofing and slip resistant surfaces will be applied to all balcony decks.  The building exterior will be re-waterproofed and painted.  Other relatively minor repairs and replacements will be made as necessary to the other public areas .  All of this work will be supervised by the professional engineer who designed the project.  The work will be scheduled over a period of time so as to provide as little inconvenience as possible to our owners and guests.

In addition to the construction work, new mattresses will be furnished for each bed in each unit.  New sleep sofas and love seats will be provided for each unit.  Kitchens will be refurbished with new counters and lighting. New track lighting will be installed in all dining areas.  All units will be re-painted.  Many other small touches to spruce up the resort will also come about.

In short, when all is done Atlantic Terrace will shine as never before.