Are you assigning a static IP address to the team, but the team is reporting a different address? You might have to wait awhile after creating the team before trying to assign a static address in Windows. See http://www.intel.com/support/network/sb/CS-030840.htm if you need the documentation for this issue.
If your team is using DHCP to get an IP address, then the team should be picking up the proper settings from the DHCP server.
I hope this helps.
The desire was static, but when I created the team and went in to assign the address the option was "grayed out", at that time I backed out and deleted the team. I now have recreated the team and after waiting several minutes I was able to enable the static IP option and get it setup as desired.
Appreciate the help !