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</head><body><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;">P/C Paul Goldberg,</span><br></p><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;">In response to our telephone conversation that the Board of Directors did not have the authority to purchase the new launch; and a proposed letter to the Board that the purchase, as conducted, clearly violates the spirit and intent of Article II, Section 6 of the PYC By-Laws regarding Capital projects, I forwarded the questions to the Constitution and By-Law Committee.</span></p><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;"><br></span></p><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;">Attached please find the response from Capt. Joe Nadeau, Chairman, and supported by Capt. Glen Graper, committee member.</span></p><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;"><br></span></p><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;">As Joe Nadeau stated in conclusion, we all have a stake in ensuring Portsmouth Yacht Club is a place of friendship and congeniality.</span></p><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;"><br></span></p><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;">Respectfully,</span></p><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;"><br></span></p><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;">David Wajda,</span></p><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;">Commodore</span></p><p><span style="color: #333333; font-family: helvetica, arial, sans-serif; font-size: 12pt; background-color: #ffffff;"> </span></p></body></html>