1. Provide RBGC Club House 7:00 PM 14 Nov 2012 RBOA INC Special Meeting

2. RBOA INC Welcome -- thanks for coming Welcome -- thanks for coming Your participation in conduct of RBOA is greatly appreciated Your participation in conduct of RBOA is greatly appreciated 402 members strong 402 members strong Board of Directors, Committees Board of Directors, Committees All Volunteers All Volunteers

3. AGENDA CALL TO ORDER CALL TO ORDER QUORUM VALIDATION QUORUM VALIDATION PRESENTATION ON SPECIAL ASSESSMENT PRESENTATION ON SPECIAL ASSESSMENT DISCUSSION OF MEMBERS DISCUSSION OF MEMBERS VOTE -- RESULTS VOTE -- RESULTS

4. BOARD OF DIRECTORS PRESIDENT PAUL MARYESKI PRESIDENT PAUL MARYESKI VICE PRES AL HABERBUSCH VICE PRES AL HABERBUSCH TREAS/SEC LlNDA BLYTHE TREAS/SEC LlNDA BLYTHE ENVIRONMENT BILL PATRICK ENVIRONMENT BILL PATRICK ARCHITECTURE AL HABERBUSCH ARCHITECTURE AL HABERBUSCH COMPLIANCE FRANK STRASBURGER COMPLIANCE FRANK STRASBURGER MAINTENANCE PAUL MARYESKI* MAINTENANCE PAUL MARYESKI* *acting *acting

5. PURPOSE AND POWER OF THE ASSOCIATION “This Association is non-profit, does not contemplate pecuniary gain or profit to the members thereof. The specific purposes for which it is formed are to provide for maintenance, preservation and architectural control of the residential properties and to promote the health, safety and welfare of the residents of said properties.” (Article III of the By Laws) “This Association is non-profit, does not contemplate pecuniary gain or profit to the members thereof. The specific purposes for which it is formed are to provide for maintenance, preservation and architectural control of the residential properties and to promote the health, safety and welfare of the residents of said properties.” (Article III of the By Laws)

6. RBOA INC QUORUM VALIDATION QUORUM VALIDATION 26% of 402 = 105 26% of 402 = 105 SPECIAL ASSESSMENT -- REQUIREMENTS SPECIAL ASSESSMENT -- REQUIREMENTS 20 DAY MEETING NOTICE TO MEMBERS 20 DAY MEETING NOTICE TO MEMBERS President Ltr with proxy mailed on/about 19 Oct 12 President Ltr with proxy mailed on/about 19 Oct 12 2/3 RDS OF MEMBERS PRESENT BY PROXY OR IN PERSON NEEDED TO APPROVE 2/3 RDS OF MEMBERS PRESENT BY PROXY OR IN PERSON NEEDED TO APPROVE

7. TREASURER’S REPORT $44K Annual Program $44K Annual Program 402 mbrs x $110 402 mbrs x $110 Money Mkt: $4,430 Money Mkt: $4,430 Checking: $11,147 Checking: $11,147 Dam Fund: $5,425 Dam Fund: $5,425 ______ ______ $21,002* $21,002* *as of 30 Oct 2012

8. RBOA INC Major annual expenses Major annual expenses Ground keeping $8,000 Ground keeping $8,000 Insurance $6,000 Insurance $6,000 Landscaping $6,500 Landscaping $6,500 Legal $6,000 Legal $6,000 Utilities: power/water $5,500 Utilities: power/water $5,500______ $32,000 $32,000

9. LAKE AMICK/PHELPS DAM FAILED/FIXED IN 2010/paid $11k FAILED/FIXED IN 2010/paid $11k Contract with Utility Solutions Group Contract with Utility Solutions Group FAILED AGAIN IN LATE 2011 FAILED AGAIN IN LATE 2011 Different section of outflow pipe Different section of outflow pipe Contract with Construction Service Company Contract with Construction Service Company Decision to replace entire outflow structure Decision to replace entire outflow structure Fixed in early 2012/paid $21k Fixed in early 2012/paid $21k

20. SPECIAL ASSESSMENT PURPOSE : TO RECOUP $$ SPENT ON PURPOSE : TO RECOUP $$ SPENT ON LAKE AMICK/PHELPS DAM REPAIRS LAKE AMICK/PHELPS DAM REPAIRS $31,960 total for both fixes $31,960 total for both fixes Sept 2010 and Jan 201 Sept 2010 and Jan 201 402 x $75 = $30,150 402 x $75 = $30,150 Will “restore” reserve account Will “restore” reserve account Carried approx $40k over past several years Carried approx $40k over past several years Safety net to cover emergency expenses Safety net to cover emergency expenses Lake infrastructure and/or legal fees Lake infrastructure and/or legal fees

21. Special Assessment Considerations Considerations Lakes are a major RBOA expense item Lakes are a major RBOA expense item Lake Amick/Phelps in 1994 Lake Amick/Phelps in 1994 Lake Henderson in 2005: $150,000 Lake Henderson in 2005: $150,000 $94 assessment for all members $94 assessment for all members 49 of 56 Lake Henderson property members 49 of 56 Lake Henderson property members contributed additional $2,000 contributed additional $2,000 By Laws do not allow varying assessment levels By Laws do not allow varying assessment levels BOD considering amendment to By Laws BOD considering amendment to By Laws Members must approve any proposed assessment Members must approve any proposed assessment

22. CONSIDERATIONS Lake Amick is in Unit 2 of RBCCE Lake Amick is in Unit 2 of RBCCE There are 19 lakefront properties There are 19 lakefront properties 11 are RBOA members, 8 are not 11 are RBOA members, 8 are not Lake Werk in Unit 1 is similar Lake Werk in Unit 1 is similar RBOA owns the lakes: 5 total RBOA owns the lakes: 5 total Deeded to RBOA from Ruckel Properties Deeded to RBOA from Ruckel Properties Lake Henderson is the largest: 14.5 acres Lake Henderson is the largest: 14.5 acres MOA with RBCC: outlines responsibilities MOA with RBCC: outlines responsibilities Signed in Sep 1994 Signed in Sep 1994

23. COVENANT AMENDMENTS UNIT 1 COVENANTS EXPIRE DEC 2013 UNIT 1 COVENANTS EXPIRE DEC 2013 FOREST ROAD, SHARON, MARION, GOLF FOREST ROAD, SHARON, MARION, GOLF COURSE COURSE UNIT 2 COVENANTS EXPIRE SEPT 2013 UNIT 2 COVENANTS EXPIRE SEPT 2013 FOREST ROAD, COLLEGE BLVD, DIANE, FOREST ROAD, COLLEGE BLVD, DIANE, IRENE CT, CARR, JASON, LAKE AMICK IRENE CT, CARR, JASON, LAKE AMICK FINAL BOD TRY in Mid 2013 FINAL BOD TRY in Mid 2013 If Fails: several unknown unknowns!! If Fails: several unknown unknowns!!

24. Open Discussion/Results Quorum Reached Quorum Reached Total properties represented: 154 Total properties represented: 154 105 needed for quorum 105 needed for quorum Assessment approved Assessment approved Votes in favor: 121 Votes in favor: 121 Votes not in favor: 33 Votes not in favor: 33 2/3 properties represented needed for approval: 121/154 = 79% > 66% 2/3 properties represented needed for approval: 121/154 = 79% > 66%

25. THANK YOU FOR COMING HAVE A GOOD WEEK!!