Cotswolds Townhomes Holiday Meeting Status Report & Updates November 9, 2015

Relevant Contact Info & Personnel The Cotswolds Board of Directors David Lott – Chairperson David Long Jay Tysver Anne Alexander Mary Stewart Nelson Thompson Neighborhood Management – Amanda Carr

Relevant Contact Info and Personnel Visit the website www.thecotswoldshoa.com to learn about community info and report problems. If you report problems on the website, it is automatically e-mailed to the correct Board Member The Townhome Committee Mary Stewart Nelson Thompson – Chairperson Melody Davis Jackie Cartee Brittany Riley Heather Flaherty

Priorities and Goals To provide the required services using quality providers at the best price available To ensure that you are getting the services you pay for through your HOA dues To keep your HOA dues as low as possible

Recent Changes & Updates Discerning look at composition of townhome dues vs. services required vs. services provided To comply with Covenants, some services have been added and some services have been omitted. To minimize unnecessary cost to THs and HOA, new irrigation repair policy has been implemented.

Landscaping Landscape Workshop provided the best quote to perform landscaping services to townhomes. Due to cost, services not required by Covenants have been omitted. Pinestraw Seasonal Color Mowing of Bushy Banks

Landscaping Optional Services Pinestraw - $4,792.50 (annual) ($111.45/TH) Seasonal Color - $5,304.00 (annual) ($123.35/TH) Mowing Brushy Banks - $30/TH/mow Voting Card for Additional Services to be distributed. Require 2/3rds vote for implementation to ALL TH RESIDENTS.

Exterior Pest Control / Termite Bond Best Quote Received from Wayne’s Wayne’s has been instructed to contact each TH resident to schedule all treatments Exterior Pest Control provided as of Fall 2015

Exterior Pest Control / Termite Bond All termite bait system to be upgraded Fall 2015 to Sentricon Plus – upgrade free of charge Wayne’s is giving any TH Buyer a discount on Wood Infestation Report

Irrigation Repair HOA is responsible for repairs needed due to ordinary wear and tear to irrigation. Not repairs due to damage. New policy being implemented to minimize repairs due to damage and allow more money for repairs due to ordinary wear and tear.

Irrigation Repair Policy If your irrigation does not function properly or is leaking, please follow these steps: Use the HOA Website to report the irrigation problem or leak. Neighborhood Management will direct Landscape Workshop to evaluate the broken irrigation item. Landscape Workshop will advise Neighborhood Management as to the cause of the problem.

Irrigation Repair Policy If LW determines that the damage was caused by LW, LW will repair it at LW’s expense. If LW determines that the problem was caused by ordinary wear and tear, then LW will notify Neighborhood Management, and it will be repaired at HOA’s expense.

Irrigation Repair Policy If LW determines that the problem is due to damage by the TH Owner, then: The TH Owner will receive notification from Neighborhood Management of LW’s determination. The TH Owner will receive recommendations on who may be able to repair the problem. The TH Owner will be responsible for making the repair, at TH Owner’s expense.

Calculation of 2016 Townhome Dues To calculate 2016 Townhome Dues, emphasis was placed on the following considerations: Sufficient funding of the roof reserve Covers replacement upon ordinary wear and tear only Not increasing TH Dues at this time Providing the services required by the Covenants Ensuring that the TH Dues were proportionate to the cost of TH Expenses

Summary of 2016 Townhome Dues Allocation (Annual) Townhomes (20 End Units) Townhomes (23 Inner Units) Roof Reserve $425.00 Termite Bond $93.07 Exterior Pest Control $84.00 HOA Dues $660.00 Landscaping $517.93 $397.93 Irrigation Repair $20.00 Annual Total $1800.00 $1680.00

Breakdown of HOA Dues Termite Bond – Wayne’s $4,002.00/year / 43 THs = $93.07/yr/TH Exterior Pest Control – Waynes $3,612.00/year / 43 THs = $84.00/yr/TH HOA Dues $660/Home -- community-wide

Breakdown of HOA Dues Landscaping Roof Reserve $19,948.09 per year Outer THs pay larger portion due to larger yard Roof Reserve $425.00 x 43 = $18,275 per year into reserves Current Reserve Account Balance = $67,571.44 Estimates ranged from $250,000 to $350,000 to replace all roofs (not counting inflation) First roof to be replaced in approximately 8 years.

Breakdown of 2016 Dues Irrigation Repair To keep from increasing TH Dues, $20/TH/year was allocated to irrigation repair (for a total of $860/year allocated to irrigation repair) In previous years, irrigation repair at the THs has cost several thousand dollars. Hopefully, the new irrigation repair policy will minimize this expense – and in turn, prevent increases in TH HOA Dues.

Cotswolds Community Meeting There is a community-wide meeting next week, Monday, November 16th at 6:30PM. Please join us to learn about other community advancements.