PLEASE READ BELOW FOR IMPORTANT INFORMATION

REGARDING YOUR ASSOCIATION DUES PAYMENTS.

September 23, 2014

Homeowners

Colonial Green HOA

Roanoke, VA 24018

Re: Important Information Regarding Your Dues Payments

Dear Homeowner:

The Board of Directors has been carefully reviewing the Association’s budget and normal assessment structure, including the amount of the fees as well as when they are due. The Association’s current dues structure is billed quarterly with two months paid in arrears and one month paid in advance. For example, January, February and March dues are due on March 1st, April, May and June dues are due on June 1st, July, August and September dues are due on September 1st and October, November and December dues are due on December 1st.

This method is not always the most conducive to the best cash flow for the association. It also makes it more complicated when sales occur and settlement companies are attempting to prorate the dues between the buyers and sellers. Another issue is when the settlement companies do not contact the management company prior to closing and then the association is left attempting to collect dues from a past owner.

After careful consideration of all factors involved, the Board has elected to change the schedule for dues payments from quarterly to monthly. This change will take effect with your October dues payment. Therefore, if you are currently paying quarterly, your July, August and September dues payment will be due on September 1st for the full quarter of July, August and September. Beginning October 1st, you will begin making monthly dues payments from that point forward. To calculate your monthly dues payment, you may simply divide your quarterly payment by three. If you are already paying monthly, there is no action to be taken. If you need assistance in determining your dues amount, please do not hesitate to contact me at [email protected]

Thank you for your assistance.

Sincerely,

Christina L. Greene, CMCA, AMS

Director of Association Management