Dancing Willows Townhomes HOA, Inc. - SCM Colorado

Dancing Willows Townhomes HOA, Inc.

Simms and Bowles
Littleton, CO 80127

2014 Association Budget

Date Revised: December 2, 2013

2014 Monthly Assessment of: $169
2013 Assessments: $159
Percentage Increase
6%

Approved: December 2, 2013

Prepared by: Scott Bristol
Stillwater Community Management, LLC
15400 W 64th Ave.
Arvada, CO 80007
p. 303-872-9224 ext. 102
[email protected]

CONFIDENTIAL © 2009 Copyright Stillwater Community Management, LLC.
15400 W. 64th Ave, Arvada CO 80007 (303) 872-9224 ext. 102

Page 1 of 13

Dancing Willows Townhomes HOA, Inc.

2014 Cash Balance

January through December 2014

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Operating 8,314 13,614 20,506 27,334 16,766 14,581 10,736 10,328 12,061 14,681 12,311 17,571
Beginning of Month Cash Balance 5,300 6,892 6,828 (10,568) (2,185) (3,845) (408) 1,733 2,620 (2,370) 5,261 (5,877)
Monthly Net Income (Loss) 13,614 16,766 14,581 10,736 12,311 11,694
End of Month Cash Balance (see note) 20,506 27,334 10,328 12,061 14,681 17,571
145,259
Reserve 3,344 148,603 152,073 155,542 155,049 158,644 150,115 153,710 157,305 160,901 164,496 168,091
Beginning of Month Cash Balance 3,470 3,470 (493) 3,595 (8,529) 3,595 3,595 3,595 3,595 3,595 3,595
Monthly Net Income (Loss) 148,603
End of Month Cash Balance (see note) 152,073 155,542 155,049 158,644 150,115 153,710 157,305 160,901 164,496 168,091 171,686

2014 Monthly Assessment of: $169.00 Notes:
2013 Assessments: $159.00 1. Projections of cash balances based on net income assume revenues
Percentage Increase and expenses in a given month approximate total collections from
6% homeowners and on time payments to vendors.

Page 2 of 13

Dancing Willows Townhomes HOA, Inc.

2014 Budget Overview

January through December 2014

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TOTAL
133 138 138 138 143 143 143 143 143 143 143 143 Jan - Dec

Number of Homes 22,477 23,322 23,322 23,322 24,167 24,167 24,167 24,167 24,167 24,167 24,167 24,167 285,779
Ordinary Income/Expense 1,690 25 1,690 25 25 25 3,380
23,322 150 24,167 24,167 24,167 24,167 100
Income 24,167 23,347 23,322 25,012 24,192 24,317 24,167 24,192 24,167 24,167 24,192 24,167 150
4000 · Assessments - Homeowners 24,167 23,347 25,012 24,192 24,317 24,192 24,192
4050 · Working Capital 289,409
4200 · Late Fees 25 25
4400 · Fines 289,409
3,800 3,800
Total Income 1,482 1,538 25 25 25 25 25 25 25 25 25 25 300
5,576 6,674 3,000 4,000 7,000
Gross Profit 3,800 2,852 2,852 2,852 2,852 2,852 2,852 2,852 891 4,150 20,852
770 4 1,538 520 520 520 520 520 1,594 3,640
Expense 2,926 6,463 520 520 4,150 4,652 23,850
5020 · Electric Power 950 1,538 1,594 1,594 1,594 1,594 4,150 1,594 18,848
5100 · Grounds Improvements 950 3,464 4 6,644 1,594 15,415 11,828 9,462 8,270 1,594 4,515 11,867 94,919
5120 · Grounds Maintenance 3,338 16,455 9,780 5,640 4
5140 · Grounds Repair Sprinklers 18,867 6,892 250 4 4 4 4 530 4 530
5180 · Snow Removal 5,300 950 275 4 4 3,213 11,867
5200 · Trash Removal 3,464 3,464 19,308 3,213 3,213 3,213 4 3,213
5220 · Water/Sewer 3,338 6 16,494 4,063 250 3,213 950 816
5260 · Back Flow Testing 6 950 950 950 950 3,213 950 3,589 275
5300 · Building Repairs - Structure 3,470 6,828 3,464 950 3,589 3,589 950 3,589 30,044 48,788
6020 · Administrative 3,344 35,580 3,589 28,162 24,575 3,589 950 3,589 18,931 500
6040 · Audit Tax 3,470 26,377 22,459 3,589 26,537 -5,877 11,400
6120 · Insurance 3,344 10,362 -10,568 -3,845 -408 21,547 5,261 42,444
6180 · Legal Fees 8,644 -2,185 1,733 -2,370 286,029
6300 · Property Management 2,620
6420 · Transfer to Reserve 3,380

Total Expense 3,464 3,464 3,589 3,589 3,589 3,589 3,589 3,589 3,589 3,589 42,444
6 6 6 6 6 6 6 6 6 6 70
Net Ordinary Income
Other Income/Expense 3,470 3,470 3,595 3,595 3,595 3,595 3,595 3,595 3,595 3,595 42,514

Other Income 3,470 3,963 3,595 12,124 3,595 3,595 3,595 3,595 3,595 3,595 3,963
8000 · Transfer from Operating 10,298 1,410 12,124 3,187 5,328 6,215 1,225 8,856 -2,282 12,124
8420 · Interest Reserve Fund 3,963 -8,529 16,087
-493 26,427
Total Other Income -12,374
Other Expense -11,061 29,807

8010 · Reserve Expense - Concrete
8020 · Reserve Expense - Bldg Paint
Total Other Expense
Net Other Income

Net Income

Page 3 of 13

5020 · Electric Power Dancing Willows Townhomes HOA, Inc.
5080 · General Maintenance
5100 · Grounds Improvements December 2, 2013
5120 · Grounds Maintenance
5140 · Grounds Repair Sprinklers Notes for Association Budget
5180 · Snow Removal
5200 · Trash Removal Electric for sprinkler clocks.
5220 · Water/Sewer
Common area general maintenance.
5260 · Back Flow Testing
5300 · Building Repairs - Structure Landscape plant material repair and improvement. Budget $7,000 for plant material replacement.

6020 · Administrative Grounds maintenance is based on landscape contract bidding process. Keesen was the successful
bidder for 2014.

Sprinkler repair.

Keesen was the successful bidder for 2014.

Trash removal is provided by Waste Management and includes a rate increase of 3% for 2014.

Water and Sewer covers domestic and irrigation water services and is provided by Willowbrook Water.
Willowbrook has not set their rates for 2014 but an increase of 5.5% is expected and incorporated into the
2014 Budget.

Cost of required annual backflow valve testing.

Building exterior maintenance and repair. The reserve item for unit exterior painting of the Hardie board
fascia in the dormers and trim has been moved from every 5 years to every 7 years. A yearly operating
expense item of $4,000 has been budgeted to provided for annual unit exterior touch up and trim painting.
The HOA Board wishes to evaluate additional building maintenance in 2014 and has added $7,866 in
contingency funds to the 2014 Building Repairs line item to fund potential maintenance in 2014. A portion
of the contingency fund could be used to augment the concrete repair reserve expenditure.

Association costs associated with providing payment coupons, office supplies and copies.

Page 4 of 13

6040 · Audit Tax Dancing Willows Townhomes HOA, Inc.
6120 · Insurance
December 2, 2013

Notes for Association Budget

Annual tax return preparation.

Annual Property and Casualty, Umbrella, Directors and Officers and Fidelity insurance required by the
Governing Documents. Contract is bid to AA or higher rated carriers as required by the Governing
Documents. 2013 Property and Casualty insurance carries a 2% wind and hail deductable. Please see
attached "Association Property and Casualty Insurance" letter for further detail.

6180 · Legal Fees Cost for Association legal support.

6280 · Postage and Delivery

6300 · Property Management HOA Management provided by Stillwater Community Management.

6420 · Transfer to Reserve Monthly transfer to the reserve account as detailed in attached "Twenty Year Reserve Plan."

8100 - Reserve Expense - Concrete Reserve expense item for concrete maintenance 20 year reserve plan. This item will be paid for out of the
reserve account

8140 - Reserve Expense - Building Paint Reserve expense item for building paint from the 20 year reserve plan. This item will be paid for out of the
reserve account.

Page 5 of 13

Dancing Willows Townhomes Homeowners Association, Inc.

Simms and Bowles
Littleton, CO 80127

Twenty Year Reserve Study

Study Base Year: 2007
Date Revised: December 2, 2013

APPROVED: December 2, 2013

Prepared by: Scott Bristol

Stillwater Community Management, LLC
15400 W 64th Ave.
Arvada, CO 80007
p. 303-872-9224 ext. 102
[email protected]

CONFIDENTIAL © 2009 Copyright Stillwater Community Management, LLC.
15400 W. 64th Ave, Arvada CO 80007 (303) 872-9224 ext. 102

Page 6 of 13

Dancing Willows Townhomes Homeowners Association, Inc.

December 2, 2013

PLAN REVISION NOTES 2013

This is a reserve plan designed to project long term costs associated with fixed assets under the responsibility of the HOA. The goal of the plan
is to identify timing of long-term costs and save accordingly. It is important the reserve plan is reviewed and revised annually as part of the
annual HOA budget process. Below is a description and associated details of revisions to the reserve plan for the current year.
1 Internal inflation rate has been set at 2% for 2014 based on data from Inflationrate.com. Interest rate is .005%
2 The reserve item for unit exterior painting has been moved from every 5 years to every 7 years. A yearly operating expense item of $4,000 has
been budgeted to provided for annual unit exterior touch up and trim painting. The reserve item for exterior unit repainting has been
decreased because the yearly touch up painting will make major painting to be less costly and less frequent. This change is based on
experience over the last few years with other similar builder projects and has been advised as a higher quality solution by painting industry
experts.
3 In the 2014 reserve study, painting of buildings has been accelerated by one year and the first painting project has been moved into 2014.
Three complete buildings will be painted in 2014 and these buildings have been put into their own line item.
4 Added additional fence responsibility for Dancing Willows Townhomes. 480' of 3 rail fence, 480' of 6' Privacy fence and 310 ' of 4' 4 rail fence.

5 The irrigation system reserve item has been increased from $800 to $1,800 to more accurately reflect the cost of sprinkler control units.

Page 7 of 13

Dancing Willows Townhomes Homeowners Association, Inc.

Twenty Year Reserve Plan - Exhibit A

Provided by: Stillwater Community Management, LLC

Reviewed and Revised: December 2, 2013

Study Type: Full, With-Site-Visit/Off Site Review

Base Cycle 1 2 3 4 5 6 7 8 9 10 11
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Component Cost Year Term Start
23,824 1,492 4,552
Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2007 3,963

Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2010 4,206 4,831

Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2013 4,463
6' Solid Wood Fence Replacement 9,600 2007 15 2008
Four Rail Fence Replacement 5,038 2007 20 2008 13,179
Three Rail Fence 6,552 2007 20 2008
Common Area Structures Reserves 1,200 2007 10 2008 12,124 13,927
Unit Roof - Replace 2008 base year 192,940 2008 30 2008
Unit Roof - Replace 2009 base year 35,080 2009 30 2009 27,366
Unit Roof - Replace 2010 base year 70,160 2010 30 2010
Unit Roof - Replace 2011 base year 52,620 2011 30 2011 6,536 7,508
Unit Roof - Replace 2012 base year 70,160 2012 30 2012
Unit Roof - Replace 2013 base year 87,700 2013 30 2013 13,072 15,016
Unit Gutter - replace 2008 base year 34,650 2008 30 2008
Unit Gutter - replace 2009 base year 6,300 2009 30 2009 9,804 13,072
Unit Gutter - replace 2010 base year 12,600 2010 30 2010 2,194
Unit Gutter - replace 2011 base year 9,450 2011 30 2011 16,340
Unit Gutter - replace 2012 base year 12,600 2012 30 2012
Unit Gutter - replace 2013 base year 15,750 2013 30 2013 4,183 4,711
Repaint Units - Base Year 2007 10,555 2007 7 2007
Repaint Units - Base Year 2008 20,740 2008 7 2008
Repaint Units - Base Year 2009 5,690 2009 7 2009
Repaint Units - Base Year 2010 11,380 2010 7 2010
Repaint Units - Base Year 2011 8,535 2011 7 2011
Repaint Units - Base Year 2012 11,380 2012 7 2012
Repaint Units - Base Year 2013 14,225 2013 7 2013
Irrigation System 1,800 2008 10 2008
Landscape Improvement/Replace 3,500 2008 6 2011

Total Scheduled Expenditures 16,087 23,824 6,536 21,461 13,490 13,072 20,803 18,479 27,366 25,398 19,847
Carryover of previous Year 145,259 171,686 191,986 230,469 254,958 288,353 323,126 351,148 382,500 405,992 432,488
Forecast Interest Earned
Added to Reserves 70 194 214 253 278 312 347 376 408 432 456
42,444 43,930 44,805 45,697 46,607 47,533 48,477 49,455 50,450 51,463 47,602
End of Year Reserve Balance
171,686 191,986 230,469 254,958 288,353 323,126 351,148 382,500 405,992 432,488 460,700
Number of Units
Monthly Unit Contribution 143 143 143 143 143 143 143 143 143 143 143
Estimated Rate of Inflation 25.10 25.60 26.11 26.63 27.16 27.70 28.25 28.82 29.40 29.99 27.74
Estimated Rate of Interest
CONFIDENTIAL © 2009 Copyright Stillwater Community Management, LLC 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0%
0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%

Page 8 of 13

Dancing Willows Townhomes Homeowners Associati

Twenty Year Reserve Plan - Exhibit A

Provided by: Stillwater Community Management, LLC

Reviewed and Revised: December 2, 2013

Study Type: Full, With-Site-Visit/Off Site Review

Base Cycle 12 13 14 15 16 17 18 19 20 21 22
2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035
Component Cost Year Term Start
11,262 5,229 31,435 8,624 5,549 6,007
Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2007 5,305

Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2010

Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2013 5,127 5,889
6' Solid Wood Fence Replacement 9,600 2007 15 2008
Four Rail Fence Replacement 5,038 2007 20 2008 7,635
Three Rail Fence 6,552 2007 20 2008 9,931
Common Area Structures Reserves 1,200 2007 10 2008 1,819
Unit Roof - Replace 2008 base year 192,940 2008 30 2008
Unit Roof - Replace 2009 base year 35,080 2009 30 2009 15,998 18,377
Unit Roof - Replace 2010 base year 70,160 2010 30 2010
Unit Roof - Replace 2011 base year 52,620 2011 30 2011 17,248
Unit Roof - Replace 2012 base year 70,160 2012 30 2012
Unit Roof - Replace 2013 base year 87,700 2013 30 2013 12,936
Unit Gutter - replace 2008 base year 34,650 2008 30 2008
Unit Gutter - replace 2009 base year 6,300 2009 30 2009 15,016 17,248
Unit Gutter - replace 2010 base year 12,600 2010 30 2010
Unit Gutter - replace 2011 base year 9,450 2011 30 2011 18,770 21,560
Unit Gutter - replace 2012 base year 12,600 2012 30 2012
Unit Gutter - replace 2013 base year 15,750 2013 30 2013 2,675
Repaint Units - Base Year 2007 10,555 2007 7 2007
Repaint Units - Base Year 2008 20,740 2008 7 2008 5,974
Repaint Units - Base Year 2009 5,690 2009 7 2009
Repaint Units - Base Year 2010 11,380 2010 7 2010
Repaint Units - Base Year 2011 8,535 2011 7 2011
Repaint Units - Base Year 2012 11,380 2012 7 2012
Repaint Units - Base Year 2013 14,225 2013 7 2013
Irrigation System 1,800 2008 10 2008
Landscape Improvement/Replace 3,500 2008 6 2011

Total Scheduled Expenditures 11,262 15,016 23,897 43,287 36,740 8,624 22,797 12,936 17,248 27,449 30,358
Carryover of previous Year 460,700 498,468 533,499 560,680 569,511 585,928 631,524 664,058 707,584 747,957 779,303
Forecast Interest Earned
Added to Reserves 485 523 559 586 596 613 659 692 736 777 809
48,546 49,524 50,519 51,531 52,561 53,608 54,672 55,770 56,885 58,018 59,185
End of Year Reserve Balance
498,468 533,499 560,680 569,511 585,928 631,524 664,058 707,584 747,957 779,303 808,939
Number of Units
Monthly Unit Contribution 143 143 143 143 143 143 143 143 143 143 143
Estimated Rate of Inflation 28.29 28.86 29.44 30.03 30.63 31.24 31.86 32.50 33.15 33.81 34.49
Estimated Rate of Interest
CONFIDENTIAL © 2009 Copyright Stillwater Community Management, LLC 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0%
0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%

Page 9 of 13

Dancing Willows Townhomes Homeowners Associati

Twenty Year Reserve Plan - Exhibit A

Provided by: Stillwater Community Management, LLC

Reviewed and Revised: December 2, 2013

Study Type: Full, With-Site-Visit/Off Site Review

Base Cycle 23 24 25 26 27 28 29 30 31 32 33
2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046
Component Cost Year Term Start
6,900
Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2007

Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2010 6,374 7,322
17,737
Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2013 6,764
6' Solid Wood Fence Replacement 9,600 2007 15 2008
Four Rail Fence Replacement 5,038 2007 20 2008 2,217 63,543
Three Rail Fence 6,552 2007 20 2008 349,484
Common Area Structures Reserves 1,200 2007 10 2008 127,085
Unit Roof - Replace 2008 base year 192,940 2008 30 2008 62,764
Unit Roof - Replace 2009 base year 35,080 2009 30 2009 95,314
Unit Roof - Replace 2010 base year 70,160 2010 30 2010
Unit Roof - Replace 2011 base year 52,620 2011 30 2011 127,085
Unit Roof - Replace 2012 base year 70,160 2012 30 2012
Unit Roof - Replace 2013 base year 87,700 2013 30 2013 158,856
Unit Gutter - replace 2008 base year 34,650 2008 30 2008
Unit Gutter - replace 2009 base year 6,300 2009 30 2009 11,412
Unit Gutter - replace 2010 base year 12,600 2010 30 2010
Unit Gutter - replace 2011 base year 9,450 2011 30 2011 22,823
Unit Gutter - replace 2012 base year 12,600 2012 30 2012
Unit Gutter - replace 2013 base year 15,750 2013 30 2013 17,117
Repaint Units - Base Year 2007 10,555 2007 7 2007
Repaint Units - Base Year 2008 20,740 2008 7 2008 22,823 28,529
Repaint Units - Base Year 2009 5,690 2009 7 2009 21,109 41,478
Repaint Units - Base Year 2010 11,380 2010 7 2010
Repaint Units - Base Year 2011 8,535 2011 7 2011 36,109
Repaint Units - Base Year 2012 11,380 2012 7 2012
Repaint Units - Base Year 2013 14,225 2013 7 2013 9,906 11,379
Irrigation System 1,800 2008 10 2008
Landscape Improvement/Replace 3,500 2008 6 2011 19,813 22,759

14,860 17,069

19,813

3,260 24,766
6,728

Total Scheduled Expenditures 36,109 9,906 461,649 89,815 169,721 150,689 177,917 228,863 11,379 30,081 17,069
Carryover of previous Year 808,939 834,038 886,567 488,641 463,405 359,526 275,879 166,260 6,941 66,338 108,500
Forecast Interest Earned 42
Added to Reserves 839 865 918 521 496 393 310 201 70,734 102 145
60,369 61,570 62,806 64,058 65,345 66,649 67,988 69,344 72,141 73,582
End of Year Reserve Balance
834,038 886,567 488,641 463,405 359,526 275,879 166,260 6,941 66,338 108,500 165,159
Number of Units
Monthly Unit Contribution 143 143 143 143 143 143 143 143 143 143 143
Estimated Rate of Inflation 35.18 35.88 36.60 37.33 38.08 38.84 39.62 40.41 41.22 42.04 42.88
Estimated Rate of Interest
CONFIDENTIAL © 2009 Copyright Stillwater Community Management, LLC 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0%
0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%

Page 10 of 13

Dancing Willows Townhomes Homeowners Associati

Twenty Year Reserve Plan - Exhibit A

Provided by: Stillwater Community Management, LLC

Reviewed and Revised: December 2, 2013

Study Type: Full, With-Site-Visit/Off Site Review

Base Cycle 34 35 36 37 38 39 40 41 42 43 44
2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057
Component Cost Year Term Start 7,925 8,411 23,871 8,925 9,104
7,770 47,645 13,071 26,143 54,729
Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2007 11,345 24,247 26,143 19,607 32,678 27,853
14,756 8,532
Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2010
2,703
Concrete Sidewalk, Patio and Driveway 3,450 2007 7 2013 22,759
6' Solid Wood Fence Replacement 9,600 2007 15 2008 7,577 28,448
Four Rail Fence Replacement 5,038 2007 20 2008 3,974
Three Rail Fence 6,552 2007 20 2008
Common Area Structures Reserves 1,200 2007 10 2008
Unit Roof - Replace 2008 base year 192,940 2008 30 2008
Unit Roof - Replace 2009 base year 35,080 2009 30 2009
Unit Roof - Replace 2010 base year 70,160 2010 30 2010
Unit Roof - Replace 2011 base year 52,620 2011 30 2011
Unit Roof - Replace 2012 base year 70,160 2012 30 2012
Unit Roof - Replace 2013 base year 87,700 2013 30 2013
Unit Gutter - replace 2008 base year 34,650 2008 30 2008
Unit Gutter - replace 2009 base year 6,300 2009 30 2009
Unit Gutter - replace 2010 base year 12,600 2010 30 2010
Unit Gutter - replace 2011 base year 9,450 2011 30 2011
Unit Gutter - replace 2012 base year 12,600 2012 30 2012
Unit Gutter - replace 2013 base year 15,750 2013 30 2013
Repaint Units - Base Year 2007 10,555 2007 7 2007
Repaint Units - Base Year 2008 20,740 2008 7 2008
Repaint Units - Base Year 2009 5,690 2009 7 2009
Repaint Units - Base Year 2010 11,380 2010 7 2010
Repaint Units - Base Year 2011 8,535 2011 7 2011
Repaint Units - Base Year 2012 11,380 2012 7 2012
Repaint Units - Base Year 2013 14,225 2013 7 2013
Irrigation System 1,800 2008 10 2008
Landscape Improvement/Replace 3,500 2008 6 2011

Total Scheduled Expenditures 30,336 68,996 32,172 47,645 13,071 34,554 52,010 26,143 41,603 36,957 54,729
Carryover of previous Year 165,159 210,083 217,886 264,049 296,348 364,849 413,567 446,543 507,119 554,029 607,400
Forecast Interest Earned
Added to Reserves 203 248 257 304 337 406 456 490 551 599 653
75,058 76,551 78,078 79,640 81,235 82,866 84,530 86,229 87,962 89,730 91,531
End of Year Reserve Balance
210,083 217,886 264,049 296,348 364,849 413,567 446,543 507,119 554,029 607,400 644,856
Number of Units
Monthly Unit Contribution 143 143 143 143 143 143 143 143 143 143 143
Estimated Rate of Inflation 43.74 44.61 45.50 46.41 47.34 48.29 49.26 50.25 51.26 52.29 53.34
Estimated Rate of Interest
CONFIDENTIAL © 2009 Copyright Stillwater Community Management, LLC 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0% 2.0%
0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1% 0.1%

Page 11 of 13

Dancing Willows Townhomes Homeowners Association, Inc.

December 2, 2013

RESERVE PLAN NOTES

This is a reserve plan designed to project long term costs associated with fixed assets under the responsibility of the HOA. The
goal of the plan is to identify timing of long-term costs and save accordingly. Base costs are estimates derived from installation
cost and current price quotes from manufacturers of same or similar products. Timing of costs are derived from manufactures
operations and maintenance documentation and commonly used industry specific values. This is not an engineering study but
a “Common Sense” plan to match savings to long-term expenditures.

1 Concrete Sidewalk, Patio and Driveway

Reserve plan includes a detailed take off of all concrete surfaces. There is a total of 18,169 square feet of concrete in various

configurations. Concrete is expected to fail at a rate of 5% every 7 years due to cracking, Spaulding and heaving. Reserve plan

takes into consideration different cost for each type of concrete installed. See assumption detail for additional information. $ 10,351.90
6,020
Driveway 301
4.39
5% Failure
1,321.39
Cost per Square ft $

Sub total curb and gutter $

Sidewalk and Patio 26,405
5% Failure 1,320
Cost per square ft
Sub total curb and gutter $ 6.84
$ 9,030.51

2 6' Solid Wood Fence Replacement $ 9,600.00
Replace 6' fencing, gates and privacy blinds every 15 years 480
Linear ft.
Cost per ln ft to replace $ 20.00

3 Three Rail Fence Replacement $ 6,552.00
Replace three rail perimeter fence every 20 years 480
Linear ft.
Cost per ln ft to replace $ 13.65

4 Four Rail Fence Replacement $ 5,037.50
Replace three rail perimeter fence every 20 years 310
Linear ft.

Page 12 of 13

Dancing Willows Townhomes Homeowners Association, Inc. $ 16.25
$ 1,200.00
December 2, 2013

RESERVE PLAN NOTES

Cost per ln ft to replace

5 Common Area Structures Reserves
Major maintenance and replacement of common area structures and retaining walls

6 Unit Roof - Replace
Cost to replace roofs every 30 years. Base cost for roof is determined by year roof installed.

7 Unit Gutter - Replace
Base cost year is the same as the roofs in item 9

8 Repaint Units
Cost to repaint units every 7 years. Base cost for painting is determined by year building completed. Painting to include Trim
and Hardy board dormer fascia. Stucco is not to be painted. Touch up and trim painting has been added to the operating
budget to allow for annual paint maintenance.

9 Irrigation System
Cost to replace major irrigation system equipment every 10 years

10 Landscape Improvements/Replace
Cost to replace and improve landscape material every 4 years

Page 13 of 13