PLUM CREEK MASTER HOMEOWNERS ASSOCIATION
www.plumcreekhoa.com

BOARD OF DIRECTORS MEETING

May 8, 2002

CALL TO ORDER & VERIFICATION OF QUORUM

The meeting was called to order at 7:00 p.m. by President Jason Johnson. Also present were Board members Sheila Haulter, Al Holowinski, Mark Kramer (Vice President), Mark Richards, and Clyde Simmons (Treasurer). Also present was John O'Connor of Pristine Communities, Inc. President Johnson noted there was a full quorum.

APPROVAL OF APRIL 10, 2002, MINUTES

Motion was made, seconded, and passed unanimously to approve the April 10, 2002, minutes. The minutes will be posted on the website.

OCTOBER PLACE HEARING

Mr. O'Connor provided the board with background information on this issue concerning a home requiring repainting, as well as options for enforcement. He explained the difference between delinquent assessments and covenant enforcements and noted that fines are $25 to $50 per day. On this same general subject, the board discussed Rich Johnston, attorney for the association, developing a standard form letter for this type of situation.

Motion was made, seconded, and passed unanimously to have Rich Johnston prepare a standard form letter regarding covenant enforcements. Additional motion was made, seconded, and passed unanimously to have Mr. Johnston prepare a specific letter regarding October Place, to be sent with return receipt, regarding compliance with the board's previous requests and imposing fines if no response is received within thirty (30) days.

MANAGEMENT REPORT

Mr. O'Connor reviewed key points of the April 2002 financial statements, as follows:
- Income year-to-date $41,700 budgeted $41,600 actual
- Operating expense year-to-date $25,200 budgeted $17,800 actual
- Net operating income year-to-date $16,500 budgeted $23.800 actual

Mr. O'Connor noted that major expenses under budget year-to-date include snow removal ($500), utilities ($500), ACC expense ($1,700), and insurance ($4,000). He added that the insurance variance is a timing issue and this amount would eventually be paid as budgeted.

Delinquency Report
- Prestwick Way-A lien has been filed and a summons issued for court appearance on May 29. If the owner does not answer, a judgment will be entered against the owner.
- Newport Circle-This delinquent account is being handled in conjunction with the St. Andrews sub?association. The court has appointed a receiver, who has placed an ad to rent the premises. Any funds received for rent will be used to reimburse the two associations for payments due. However, the owner has indicated he may pay in full by May 13.
- Mount Royal Drive-The owner has filed for Chapter 13 bankruptcy.

OLD BUSINESS

Landscape Walkthrough-Mr. O'Connor reported on the landscape review that was made by Messrs. Johnson, Kramer and Simmons, with Douglas County Maintenance. A list of 45 items for removal or replacement was compiled, and Douglas County Maintenance has provided a cost estimate of $26,095 to complete this project. It was noted that this amount does not include any costs of irrigation problems that may arise because of the modifications. Mr. O'Connor stated that $20,000 is budgeted and sufficient funds are in the operating account to cover the balance. Mr. O'Connor also noted that visibility issues were addressed in this review, and the Town of Castle Rock would replace certain areas of sod at the intersection of Plum Creek Parkway and Plum Creek Boulevard that have not had irrigation because of the installation of the light signal.

Motion was made, seconded, and passed unanimously to accept the Douglas County Maintenance proposal for $26,095 for work as specified in the Landscape Review dated April 18, 2002. It was noted that all landscaping should meet standard requirements and the project should be completed by June 15, 2002.

Renaming of Streets Follow-up-Mr. O'Connor reported that no name changes are scheduled by the Town of Castle Rock.

NEW BUSINESS

Appoint New Board Member-Mr. O'Connor introduced Russ Fife, a homeowner in Champions Court. Mr. Fife provided some personal information about himself to the board and stated his interest in serving on the master association board.

After discussion, motion was made, seconded, and passed unanimously to appoint Mr. Fife to the board, effective immediately.

It was noted that the position of Secretary/Treasurer is currently vacant due to Ms. Van Horn's resignation. This position will be appointed at the next meeting.

Water Feature-Mr. O'Connor provided the board with background information on this ongoing issue. Various options were discussed, including blocking a portion of the pond, applying a sealant, and forming a committee. Mr. O'Connor noted that funds had been budgeted to cover costs for repairs. He also stated that this issue would need to be an agenda item at the next annual meeting for any action recommended by the board and/or committee.

After discussion, motion was made, seconded, and passed unanimously to form a Water Feature Committee, which would include homeowners, to determine the cost to design and construct a new entrance feature further south on Plum Creek Boulevard.

Mr. Simmons agreed to chair the new committee, and he will contact the seven sub-associations for input and/or representation on the committee. He will report to the board at the next meeting.

Five Iron Drive Repaint-Mr. O'Connor provided the board with background information on this issue concerning interpretation of required approvals. Reference was made to the Architectural Review Design Guidelines, which were distributed to all homeowners in October 2001; as well as the accompanying cover letter that specifies approval for exterior modifications is required by both the sub-association and master association. It was noted, however, that if no changes from the original colors are being made, no written approval is needed.

The board requested Mr. O'Connor clarify with the ACC that each of the sub-associations has provided to them original color chips for use in approving repainting issues.

HOMEOWNERS FORUM

Players Club Estates-Owner Mildred Simmons advised the board that Phase I of Players Club Estates common area landscaping is complete.

Internet Site-The question was raised if the association website could be configured to automatically send e-mail notifications to all homeowners that new information had been posted on the site. Mr. Kramer explained that such a modification to the system would not be cost effective. It was noted that minutes are posted approximately two weeks following a board meeting and sub-associations could choose to provide such notification to their own homeowners if they so desired.

Directory Follow-up-Ms. Simmons advised the board that she would arrange for Diane Jaunk to update the board regarding the status of the directory at the next meeting.

Champions Circle Construction Violations-Mr. O'Connor provided the board with background information on this issue. After discussion, Mr. O'Connor was requested to convey to the ACC the board's recommendation to establish time frames and deadlines for these types of construction issues. Correspondence should be sent to this homeowner regarding this matter. Mr. O'Connor will update the board at the next meeting.

The homeowners forum was closed.

ADJOURNMENT

At 8:55 p.m., a motion was made, seconded, and passed unanimously to adjourn the meeting.

NEXT BOARD MEETING-Wednesday, June 12, 7:00 p.m. at Plum Creek Country Club, in the Plum Room.