February 27, 2007 Swedesford Chase Homeowners Association 2007 Annual Meeting

February 27, 2007Annual Meeting of Homeowners Agenda n Welcome, Call to order, Proof of Notice of Meeting n 2006 Accomplishments n Special Topics n 2006 Audited Financial Report and 2007 Budget Review n 2007 Topics for Review n 2007 Election Process and Candidate Introduction n Adjournment

February 27, 2007Annual Meeting of Homeowners Notice of Meeting By Laws, Article 3.4 : Notice of meeting shall be hand delivered or sent by mail to not less than ten nor more than 60 days in advance of the meeting Annual Meeting notice was mailed to all homeowners on January 17, 2007

February 27, 2007Annual Meeting of Homeowners 2006 Accomplishments n Community Dedication u Settled all outstanding issues with Toll Bros before dedication F Fixed broken sidewalks F Replaced all dead trees n Legal Issue Closure u Outstanding Delinquent Accounts F All but one account is current through end of 2006 F Developing a more “neighbor-friendly” approach to collecting dues u Modified our approach towards legal action n Completed Evaluation and Selection of New Insurance Carrier u Selected State Farm Insurance for liability and D&O insurance u Saved the Association over $2000 annually n Set up web site ( u Brad Fischer has graciously donated his time and is the acting web master

February 27, 2007Annual Meeting of Homeowners Special Topics - Patty Callan n Sunrise Blvd. Update u Brief History -> Survey u Surveyed Options u Survey Results u Request to Township u Other Factors F Target Expansion F Bank/Oil Change Business F 4-story Best Western Hotel F Coeway Lane Activity

February 27, 2007Annual Meeting of Homeowners Special Topics - Patty Callan n Yard Sale / Clean-up Weekend u Annual Event - last weekend in April (April 28th and 29th this year) F Neighborhood Event u Greater Participation = Greater Overall Success u Saturday: Yard Sale from 9:00 AM to 1:00 PM u Sunday: Neighborhood Clean -up u Timed to coincide with other spring events: F Household Hazardous and Computers Collections Owen J. Roberts H.S. – Pottstown) F Paper Shredding Collection Day (6/2 from 9-11 at the West Whiteland Twp Bldg) F Residential Appliance Drop-Off Program (6/2 from 9-1 at the West Whiteland Twp Bldg)  St. Vincent de Paul van at SS. Philip & James (usually parked 1st or 2nd wknd in May) n Annual Picnic u Community Event held in early September u Looking for new volunteers

February 27, 2007Annual Meeting of Homeowners Un-Audited Financial Report BALANCE SHEET FOR THE YEAR ENDED DECEMBER 31, 2006

February 27, 2007Annual Meeting of Homeowners Un-Audited Financial Report

February 27, 2007Annual Meeting of Homeowners 2007 Operating Budget

February 27, 2007Annual Meeting of Homeowners Capital Reserve Fund Article 11 Section 11.5 Capital Expenses and Reserves The Association shall establish an adequate Capital Reserve Fund for major repair and replacement of those Common Elements that are anticipated to require replacement, repair or major repair on a periodic basis. The Capital Reserve Fund shall be funded by the purchaser’s initial contribution, and any resale assessments (as applicable) provided for in Section 11.6, the annual payments established by the Board from time to time as a part of Common Expenses, and any Special Assessments levied and assessed from time to time by the Board. Each such assessment shall be payable in the time and manner as the Board may from time to time determine with respect to each. The Capital Reserve Fund shall be maintained in an account separate from the Operating Account.

February 27, 2007Annual Meeting of Homeowners Capital Reserve Fund n Current Balance of $32,000 - Deficit of $29,000 u Primarily funded by Toll Bros on original purchases of homes u Association has not contributed to this account since taking over from Toll Bros. n Professional assessment will be conducted in 2007 to ensure the proper amount is being contributed to this fund.

February 27, 2007Annual Meeting of Homeowners Landscaping Contract n Current Contract runs through 2007 u Annual Contract - $50,288 F Lawn Cutting 26 times for all common areas (incl. pipeline) 20 times for and road shoulders and Green Valley Field F Landscape Maintenance Edging and General Clean-up Pruning Monument Spring and Fall Planting (3 Entrances) Weed Control n Additional Expected Expenses u Last year we were $1400 over budget plus we spent over $8700 in tree replacement (reimbursed from Toll Bros.) u Japanese Beatle u Replacement of Trees u Fountain Maintenance

February 27, 2007Annual Meeting of Homeowners 2007 Topics for Review n Items raised by residents for review in 2007 u Review of specific Rules and Procedures F Parking in the street F Collection of delinquent dues F “For Sale” signs F Shed approval F Mailboxes F Architectural Review Procedures and Record Keeping F Notification of meetings – “Electronic” u Phasing out the Driveway Reserve Fund u Professional Review of the Capital Fund u Investigate 3 year terms (all alternating) for more continuity u Negotiate a new Landscaping Contract

February 27, 2007Annual Meeting of Homeowners 2007 Executive Board Election Process n No nominations were received by the deadline n One position remains open for 2007 n Do you really want the neighborhood controlled by Tim Berghuis and Tom Snyder? n Nomination Deadline extended to 3/15 n Proxy ballot will be sent out by 3/19 n Votes must be mailed back to MAMC by 3/31 n Voting Results will be announced on the website and through the Street Captains by 4/15 n A Quorum must be attained (49 households)

February 27, 2007Annual Meeting of Homeowners Adjournment Thank You!!!