Towne View Estates HOA

1. Towne View Estates HOA Annual Meeting February 24, 2007

2. Agenda • Board of Directors / Elections • Financial Review • 2006 Summary • Reports From Our Committees • ‘Yard of the Month’ Program • General Issues / Open Discussion

3. Board of Directors / Elections Current Board of Directors • President: Tom Schneider (term expires 3/08) • Vice President: Julie Gatherum (term expires 3/09) • Treasurer – Suresh Kumar (term expires 3/08) • Secretary - Ron Koger (term expires 3/08) Actions Taken in 2006 • Julie Gatherum resigned her position as Treasurer. • Board appoints Suresh Kumar as Treasurer and he assumes Julie’s unexpired term. • Board appoints Julie Gatherum to fill vacant Vice President position.

4. Financial Review

5. 2006 Summary - Record Clean Up • Treasurer: Julie Gatherum • Brought Taxes Up To Date 2004, 2005 & 2006 • Franchise Tax Filed for 2003, 2004, 2005 & 2006 • Reinstated Association’s Certificate of Authority • Necessary To Maintain Our Tax Exempt Status • Implemented New Record Keeping System • Triple-Redundant Payment Documentation • Association Records Stored in Two “Fire-Proof” Safes • New Folders For Keeping Records Sorted by Property Address • Gathering Email Addresses For Improved Communication • 123 of 144 homeowners have provided their email address • Saves cost of postage and printing charges

6. 2006 Summary - Delinquent Dues • Began November with 37 Homeowners with Delinquent Dues of $14,755.82 • Hand delivered notices to top 11 and mailed notices to 26 • Reduced Delinquent Dues to 19 homeowners for $10,211.40 • Majority of reduction due to minor offenders • Filed liens on 5 properties with Denton County Records • $20 fee for each filing of lien • Liens have no impact on homeowner until ownership of property is transferred

7. 2006 Summary - Delinquent Dues November 2006 December 2006 $1,830.28 $1,163.84 $943.26 $842.68 $825.00 $662.50 $660.00 $549.42 $500.00 $499.42 $499.42 Top 11 $8,975.82 Remaining 26 $5,780.00 Total $14,755.82 $1,830.28 $1,163.84 $943.26 $842.68 $825.00 $662.50 $0.00 $300.00 $500.00 $499.42 $499.42 Top 11 $8,066.40 Remaining 9 $2,145.00 Total $10,211.40 Lien Filed on Property Lien Filed on Property Lien Filed on Property Lien Filed on Property Lien Filed on Property Paid-In-Full During Visit Partial Payment

8. Landscape Committee • Chairperson: Eric McCully • Renegotiated maintenance contract with Valley Crest • $1,407.25/month with two seasonal color changes per year • Previously was $1,506.92/month with color changes costing extra • Road construction of FM-3040 damaged irrigation system • Damage was within DOT easement so legally repair not mandated • Signed $14,938.50 contract to restore irrigation system • Worked with Town of Flower Mound to share expenses • City will contribute $8,280 / HOA pays $5,975.40 after tax • Future FM-3040 Improvements • $450/ 3” caliper tree | $315/ 30 gallon tree | $175/ crape myrtle • 85 trees will cost $26,775 plus tax • 58 crape myrtles will cost $10,150 plus tax

9. Chairperson: Claudio Forest Architectural Review Applications Only 4 formal applications received in FY2006 More work in neighborhood completed than those 4 applications Increase Neighborhood Involvement Make everyone aware of the bi-laws and neighborhood covenants Need to have their projects reviewed and approved for the benefit of all our residents. Make sure that additions, sheds, fences, etc. meet or exceed our community standards as well as the City of Flower Mound’s basic requirements. Architectural Control Committee

10. Architectural Control Committee • TVE Community Rules Enforcement • Door Hangers / Reminders ? • How much and what should be enforceable ? • Architectural Control Committee Web Page • Content for a better neighborhood • What would be beneficial to our neighborhood and its residents to be aware of ? • Neighborhood input on content and seasonal issues ? • Make all forms and copies of the covenants available ? • Links to City Services, Departments, Suppliers, Vendors, etc. ?

11. Social Committee • Position is Open… Looking for Volunteers • “Last Tuesday of the Month” Dinners were abandoned due to lack of interest • Ice Cream Social was fairly successful(National Night Out) • “Welcome Flowers” initiative needs more organization

12. ‘Yard of the Month’ Program • Launched January 2007. Established to promote neighborhood appeal thru well-kept yards and thereby protecting our home investments. • One monthly winner will receive a $50 Gift Certificate to Calloway’s Nursery, a sign placed in their yard, and a photo of their home displayed on the TVE YOM web page. • Monthly winner is selected by Cheryl Jordan, TVE own resident realtor, and the current members of TVE Landscape Committee. • Benefits to all residents also include: • Monthly Gardening Tips & Coupon from Calloway’s Nursery • Complimentary CMA anytime upon request • Special TVE Discounted Realtor Commission when listedwith Cheryl Jordan, REALTOR. • For complete details, visit TVE website YOM web page

13. General Issues / Open Discussion • Maintenance of Association’s Brick Screen Wall Fence • Signed contract to repair damaged panels and replace caps along Towne View Boulevard, FM-3040, and Lake Forest Boulevard • Signed contract with ProofRock for $5,843. Two estimates were over $15,000 • Trees Along FM 3040 • Painting House Numbers on Curb for Entire Neighborhood • One-Time $15 Credit • No Lights on Entrance Signage • Mail Delivery Issues • Financial Software Investigation • Increase Member Participation in Association Activities • Relocate Entrance Sign at FM 2944 and Northshore Drive • Church Traffic Concerns

14. Actions Taken During Meeting • Tiffany Lo and Dennis Gumbert were unanimously approved to serve on TVE Social Committee. • Meeting attendees supported idea of the association paying the cost of painting address numbers on the curb in front of every house. • Meeting attendees supported Eric McCully’s proposal of spending up to $30K on landscape improvements, such as trees along FM-3040 and new plants at all TVE entrances, once damaged TVE irrigation system is operational. • Suggestion made for Board to establish a separate “reserve fund” account as means of planning for future large maintenance expenses such as repairing or replacing our brick wall.

15. Meeting Action Items • Eric McCully to investigate incorporating future bubblers in the irrigation system to provide for watering trees separately in case of water restrictions. • Ann Schneider will report on current church traffic patterns and identify specific times of concern. • Claudio Forest and Tom Schneider to approach church leaders about our traffic concerns along with opening discussions on transferring maintenance of our Northshore drive entrance to the church • Suresh Kumar to investigate tax consequences of earning interest income. • Tom Schneider to further investigate emergency siren coverage for TVE. • Suresh Kumar to gather home values to support future landscape improvement justifications. • Ron Koger (in absence) to define scope of work and begin gathering bids to repair lights on entrance signage.