Montare Homeowner’s Association Annual Meeting Presentation November 28th, 2012 Maltby Community Center

1. Montare Homeowner’s Association Annual Meeting Presentation November 28th, 2012 Maltby Community Center 1

2. Montare HOA Annual Meeting Agenda 7:00 PM – Call Meeting to Order, Attendance and Board Elections 7:15 PM – 2012 in Review • Officers and Committees • Architectural Control Committee Presentation • Accomplishments and Challenges • 2012 Budget Results and 2013 Budget Review 8:15 PM – Goals for 2013 8:30 PM – Open Topics, Questions and Answers 8:45 PM – Election Results and Meeting Adjournment 2

3. Meeting Attendance and Board Election • Annual Meeting Attendance and Quorum Review • Confirm Attending Member Sign-in Sheet • Record Member Proxy Statements • Confirm that the 10% Quorum Requirements are Satisfied • Board of Directors Election for 2013 • Darrel V.’s One Year Term Has Expired (Pete C.’s Term) • Tom W. Will Enter His Final Year on the Board • Tim S. Will be Starting His Second Year of Service • Russ T. is the Only Candidate for the Open Position • Any Nominations From the Floor? • Cast Ballots for Election of New Board Member 3

4. HOA Officers and Board Support • Officers and HOA Volunteers to the Board for 2012 • Secretary – Russ T. • Treasurer – Laura W. • Accounting – Susan R. • Treasury Support – Ann W. • Mailing List – Bill W. • Website – April G-S. • Secretary Position is Open • Need a Volunteer for this Position! • Good for Someone That is Considering Joining the Board 4

5. HOA Committees – 2012 Status • ACC Members • Linda T. • Eric C. • Larry F. • Elisha K. • Jim J. (Newest Member) • Landscape Committee • No Members – Need Volunteers! • Neighborhood Watch • No Committee Lead and No Block Captains – Need Volunteers! 5

6. HOA Committees – 2012 Status • Social Committee • No HOA Budget for Neighborhood Events as in Prior Years • No Annual Picnic, No Easter or Halloween Events • No Neighborhood Social Events • No Members – Need Volunteers! • Welcome Committee • Shelley C. • Laura W. 6

7. HOA Committees – ACC 2012 Status • ACC Request Review for 2012 • Follow the Simple Procedure Outlined on the Website • Avoid Incurring Unanticipated Costs through Fines and / or Reworking of Projects • Be Sensitive to the Time Commitment of the Volunteers and to The Importance of Your Project, by Submitting Projects Early Enough So You Can Obtain Approval to Begin Work • It Can Take up to 30 Days for the ACC to Complete the Review of Your Project • Please Ask Questions Up-Front • The ACC is Ready to Help You Get Your Project Going 7

8. HOA Committees – ACC 2012 Status • ACC Request Review for 2012 • Twenty (20) Projects Submitted for the Year • Twenty (20) Projects Approved • Two (2) Projects Incomplete (Both Painting Projects) • ACC Project Request Approved • (3) Tree Removals (1) Front Door Replacement • (6) Paint Projects (1) Fence Project • (1) Roof Extension (6) Landscape Projects • (2) Covered Patios 8

9. HOA Activities – 2012 in Review • Dues, Fines, Past Due Accounts and Bad Debt • HOA Annual Dues Were $490 Per Year • Dues Collected From 59 Households • One Member Dues Not Collected Do to Bankruptcy • Fines and Late Fees Were Assessed Against Four (4) Households • Two (2) Fines are Still Outstanding • Board is Taking Action to Collect the Monies Owed • One (1) 2011 Outstanding Dues Balance Paid by a Lender • This Was Not Expected and Was a 2011 Bad Debt 9

10. HOA Activities – 2012 in Review • Common Area Maintenance • Barking Maintenance for 2012 Was Performed • 73rd Street, Both Ends of 205th and Back Entrance • Trails Maintained on an as Needed Basis • Replaced the Timers for the Sprinkler Systems • Completed Painting of the Mail Kiosks • Thanks to Tom R.! • Front Entrance Makeover • Solicited Bids for Replacement of the Trees, Drainage Improvement and Plant Improvements • Evaluated Drainage Issues in the Park and Options for Correction 10

11. HOA Activities – 2012 in Review • CC&R Compliance Efforts • Dumping in the Restricted Open Space Remains a Concern • Violation of the Open Space Management Plan and CC&R’s • Delinquent Payments and Management of Member Properties • Much time and Effort Spent Collecting Delinquent Dues, Fines and Late Fees • Spent Significant Time Working with Realtors and Escrow Companies to Ensure Two (2) Foreclosed Properties Were Being Maintained or Remedied to CC&R Standards • Home Ownership Changes • Four Other (4) Homes Changed Ownership, Requiring Various Information from the Board to Support the Sales 11

12. HOA Financials – 2012 Actuals / 2013 Budget 12

13. Notes to 2012 Budget vs Actual Costs • 2012 Income • 59 of 60 Members Paid Dues in 2012 • One (1) Bad Debt From 2012 was Collected From Lenders • Extraordinary Income of $1,452 from Bad Debt, Fines and Interest • 2012 Expenses • Budget Shortfalls in Office Expenses, Third Party Fees, Insurance and Uncollected Dues • Budget Savings in Landscaping, Utilities, Professional Fees, and Maintenance • Minimum Barking and Landscape Maintenance Costs for 2012 • No Storm Damage or Additional Trail Maintenance Expense • No Property Improvements for Special Projects in 2012 • Water Cost for 2012 Less Than Budgeted 13

14. Notes to 2012 Budget vs Actual Costs • 2012 Expenses, Cont’d • Budget Savings in Landscaping, Utilities, Professional Fees, and Maintenance • Board Managed Collections Without Legal / Lien Costs • No Board Education in 2012 • Bad Debt Expense of $1,069 Will be Written Off • Not Likely to be Collected as the Property is in Chapter 7 Liquidation Proceedings • HOA 2013 Operating Expenses Need to be Properly Funded • Common Area Expenses and Special Projects Will Exceed 2013 Budget Amounts • Reserve Will Fund a Large Portion of the Entrance Improvements and Park Drainage Projects Planned 14

15. HOA Goals for 2013 • Projects Under Consideration • Redo the Front Entrance for a Better Year Round Appearance • Replace the Plum Trees with Trees More Resistant to Water • Improve Soil Quality and Drainage • Make the Park Usable Year Round • Significantly Improve the Drainage • The Park is Not Usable Much of the Year • Replacement of Bark in the Common Areas per the Schedule • Continue Repair and Maintenance of the Trails 15

16. HOA Goals for 2013 • More Community Involvement by the Members • HOA Participation Limited to the Same People Each Year • Need to Recruit New People Committed to Supporting the HOA • Re-Establish the Social Committee and Social Budget • Sponsor an Easter Egg Hunt • Hold a Halloween Event • Re-Establish the Montare Annual Picnic • Conduct a Social Event for the Members to Improve Participation and Foster Relationships in the Community • Other Community Events and Project Participation • Re-Establish the Landscape Committee • Re-Establish the Neighborhood Watch and Block Captains • Support the Maltby Neighborhood Alliance 16

17. 2012 Annual Meeting Wrap-Up • Open Topics for Discussion • Questions and Answers • Election Results • Meeting Adjournment 17