852-9154

INTRODUCTION: On October 12, 1999, at 7:00 pm at Eaton Hall in Brownsburg, the third annual meeting of the Country Walk Homeowners� Association (HOA) took place. The HOA board members, Becky Bayless, Greg Creese and John Mullen, homeowners and Property Manager, Matt McQuiston from KirkPatrick Management Company attended the meeting.

Proxies were collected by Matt McQuiston (KirkPatrick Mgt.) prior to the start of the meeting. The meeting was called to order by John Mullen. The proof of notice of the meeting was displayed. The reading of the minutes of the last HOA annual meeting was dispensed via motions from the floor and an oral vote.

BUDGET: Becky gave background on the previous years� budget and explained how we started with the starting balance for 1999. Becky displayed the 1999 budget and explained the actual costs, forecast expenses for the year, and the variances incurred. She then showed a 2000 forecasted budget. She explained that we have the lowest Management Company fee in the area. We utilized the most inexpensive CPA services and property insurance. She said that administrative expenses have been rising due to more delinquency letters and covenant violation letters being mailed. The bottom line was that the HOA needed $160.00 per homeowner in 2000 to keep Country Walk looking attractive and protect the HOA from delinquencies and emergencies. Becky answered questions about the legal fees incurred throughout the year and questions about the lawn care services provided. John Mullen also noted that Country Walk was not looking as good as it has in the past. This was due to the lower budget in 1999. We could not afford new mulch or fertilization as much as needed. We could only afford trimming the bushes and trees once. The beds looked terrible. The only way the common areas would be improved/maintained is when the $160 budget was approved. It was also noted that no one volunteered for the last clean-up day, which impacts the budget. Becky clarified that the budget and the streetlight votes were separate. Becky stated that if the budget did not pass, the HOA board would pass, without the vote from the homeowners, a budget based on using the Consumer Price Index adjustment that would cost each homeowner $142.50. However, if this decreased budget was used, there would be no funds available for bed mulching, redefinition, decreased weeding and pruning, no trash or water fowl removal, and the HOA would have a restrictive contingency account.

Becky asked for a vote on the needed budget and the result was 53-yes and 17-no votes. Since 21 homeowners were not present or represented, the 75% approval was not achieved. Instead, the 2000 dues collection will be $142.50 per homeowner.

HOMEOWNERS� CONCERNS: John Mullen pleaded with homeowners to talk about getting all homeowners involved/voting. Matt McQuiston explained that 75% of the homeowners needed to vote for something to pass anything. Homeowners conveyed concerns about never being able to get enough homeowners to be present to pass a needed budget. They asked about changing the covenants. Matt explained that 90% of the homeowners would have to agree to change the covenants (we would have to receive 90-yes votes for changing the covenants. He also added that Country Walk, compared to the other properties he is/has managing, has the most "bare-bones" budget that he is involved with. A homeowner then asked if it would be wise to have an option on the HOA dues bill to pay $160.00 (at least for the homeowners that voted for the budget). This way, the HOA may be able to maintain the common areas effectively, without enforcing a $160.00 dues per homeowner. Thus, it was decided that the dues bill would require a payment of $142.50 per homeowner and would ask for $160.00 for an optional payment (an additional $17.50 for the 2000 year: i.e. Minimum payment= 142.50, Optional payment= 160.00).

A homeowner stated that his home was up for sale for a year and it did NOT sell. The realtor gave him three reasons: 1) the delinquencies in Country Walk (dues payment), 2) appearance of common areas and 3) his house was near the nursing home (and he said that the issues were in that order). He said that he was very concerned and thought it was worth the extra $17.50 per year per homeowner for the better appearance (higher property values). Matt McQuiston added that we have a $100,000 investment and that another $20 per year to protect that investment should not be so painful.

A homeowner explained that he thought the budget did not pass because people did not feel like they were involved in the community. He added that we may think about increasing the number of people on the board to expand the homeowner involvement. Becky, John and Matt explained that it was difficult to get a third board member, let alone a fourth and fifth member. Andrew Bordash volunteered to be a social coordinator for Country Walk. He said that he would coordinate some social events.

STREETLIGHTS: John Mullen displayed the streetlights, where they would be located and explained the cost involved (a one time $24 cost per homeowner). Questions were asked about the different streetlights. John explained that the only light that was accepted by Country Walk homeowners was the acorn style (the style shown in the last newsletter). Many homeowners gave the pros and cons for the streetlights. Mat McQuiston explained that developers have a choice of dusk-to-dawn lights or streetlights. Either were acceptable by the state/county (or there would not be a choice). Opinions were discussed further. John Mullen asked for a vote. The result was 51-yes and 19-no votes. Since 21 homeowners were not present or represented, the 75% approval was not achieved. Therefore, Country Walk will not have streetlights placed in the community.

Becky asked people realize that the homeowners are divided on this topic. She asked for the door-to-door petitions discontinue and respect the homeowners so that the homeowners are not further divided. John added that door-to-door petitions pressure people to say yes. The board members then get a call and people say that they were pressured. The petition is then biased and invalid.

Election of the New Board Member: John Mullen explained that Becky Bayless was not running for another term and a new three year term was open. He asked for nominees from the floor since no one had notified Matt that they were interested in running for the position. No one was nominated. It was determined that John and Greg would try to fill the position.

New Business : Becky mentioned that there were park issues. The park system was asking for information from Brownsburg residents. We discussed what was most important to the residents (for a new park): pool, community center, sledding hills, children�s areas, nature center, roller blading, recreational fields, walking trails, picnic areas, or programming. She asked for first, second and third choices.

Questions were asked about mini-barns and covenants. Becky and John mentioned that when everyone moved in, Ryland gave us guidelines. In those guidelines, minibarns were not allowed. The recent homeowner survey reinforced this decision. It was decided that this preference would remain enforced by the architectural committee.

John asked for a motion to adjourn the meeting. The motion was made and seconded by the homeowners and the meeting was adjourned.

John Mullen 600 Country Walk Drive 852-9085

Greg Creese 16 Cinnamon Court 852-9154