Bristol Lake Homeowners Association A Community of Neighbors

Bristol Lake Homeowners Association A Community of Neighbors www.bristollake.com Towne Properties Management 11340 Montgomery Road Suite 202 Cincinnati, OH 45249 Phone (513) 489-4059 Fax (513) 489-3941 Updated October 5, 2005 Dear Homeowner: On behalf of the Bristol Lake Homeowners Association, and as Managing Agent for the Association, we wish to congratulate you on your choice of Bristol Lake as the place to make your new home. We are pleased to present you with this "Handbook". This Handbook has been prepared for you to provide helpful information and acquaint you with procedures, regulations and policies instituted by the Board of Trustees and which we, as your Managing Agent, will be following to best serve each resident of the Bristol Lake Homeowners' Association. From time to time, this Handbook will be revised. Please keep this Handbook readily available and as revisions are sent to you, replace the prior year's section with the current information. Let me take this opportunity to invite you to visit your community s very own website: www.bristollake.com. This website was developed by your Board of Trustees in 2004 and has made a tremendous impact on Bristol Lake in many ways. See for yourself, and while you re visiting the site, please register as a resident so you may access all portions of the site and be able to receive time-critical announcements via e-mail. This Welcome Handbook is also available within the website. We look forward to meeting you personally, and as your Managing Agent, we are always available to answer questions or help solve problems that you might have with matters that pertain to the operation of your Association. Sincerely, Shirlie Scherzinger Towne Properties Asset Management Company

Bristol Lake Homeowners Association A Community of Neighbors www.bristollake.com Welcome to Bristol Lake Handbook Disclaimer: This document was created as an informal source of information to assist new homeowners as they join our community of neighbors; it is not authoritative. If any material contained herein is contrary to the Bristol Lake Declaration of Covenants, Conditions, Restrictions, Easements and Liens, or duly-approved Resolutions, those documents shall take precedence over this Welcome Package. Revised October 5, 2005

Record of Changes Change Number Date of Change

TABLE OF CONTENTS What is a Homeowners' Association?... 1 Explanation of Community's Governing Documents... 2 Managing Agent... 3 Board of Trustees... 4 Duties of Officers... 5 Reserves/Sale or Rental of Unit... 6 Collection Policy... 7 Special Assessments... 8 Architectural Control Guidelines... 9 Pets... 10 Maintenance Procedures... 11 Complaint Procedure and Form... 12 Annual Meeting... 13 Meeting Process... 14 Pool Rules... 15 Suggestions and Comments... 16

WHAT IS A HOMEOWNERS' ASSOCIATION? When developers first started building Homeowners Associations, everyone agreed that having property shared by all owners was a good idea. But one question remained. "Who's going to take care of it?" Local government was not responsible because the land was privately owned. The developer would eventually sell all the homes and go on to build another project; he would not want to be responsible. That left the residents. Since they own the shared property, they should have the responsibility for its maintenance. The concept of an association of owners was created. A Homeowners Association is an organization of residents. A buyer will automatically become a member with the purchase of a home within the development. As a member, he has a voice and vote in the Association's affairs. These votes are cast during annual or special meetings of the general membership. The Homeowners Association is an incorporated, non-profit organization operating under recorded land agreements through which each lot owner in a described area is automatically a member. Each member is subject to a fee for their proportionate share of expenses for maintenance of common property and support of other necessary activities of the organization. WHAT DOES IT DO? The major responsibility of the Association is to protect the investment and enhance the value of the property owned by the members. This is done by providing for the physical maintenance and operation of the shared property. The Association has other responsibilities too, such as, enforcing the master regulations and architectural control, and setting up an effective communication system among members. To assure the Homeowner of a well-run organization, a professional management firm has been retained as an integral part of the operation of the Association. Professional management will insure that the Association functions as a viable business organization, protecting the Homeowners' valuable investment. The management firm will work closely with the Association s elected Board of Trustees to coordinate and supervise the maintenance, financial and architectural facets of the Association. 1

THE HOMEOWNERS' ASSOCIATION IS A BUSINESS: No matter what role you play in the Association, one thing is certain; you will want it to operate as smoothly and effectively as possible. The most important thing to remember about a Homeowners Association is that it is a business. To be successful, it must be operated like one. DECLARATION OF COVENANTS, CONDITIONS, RESTRICTIONS, EASEMENT AND LIENS: When the Developer plans his project, he develops a set of legal documents that establish the community association, govern its operation, and provide rules for use of all properties in the community. The legal documents consist of the following: DECLARATION OF COVENANTS: The Declaration details each owner's property rights and the conditions on use of his property, and his rights and obligations in the Association. The master regulations are important rules in your day-to-day living. They are set up to make sharing the property convenient and easy for you and all others involved, not to make things difficult. ARTICLES OF INCORPORATION: Establishes the Association and its purpose, structure and powers. BY-LAWS: The By-Laws delineate the meeting process, election procedures, powers and duties, board meetings, committees, insurance requirements and limited use restriction. DISCLAIMER AND REFERRAL TO DOCUMENTS: The Handbook is designed to familiarize owners briefly with the Homeowners Association, Management and policies and procedures. A fuller, more comprehensive reference to any item concerning Bristol Lake Homeowners Association can be found in the Declaration, Articles of Incorporation and By-Laws issued to all owners at the time they take title to their home. In the case of any conflict between this Handbook and the Documents, the Declaration, Articles of Incorporation and By-Laws shall control. 2

MANAGING AGENT Your Managing Agent is responsible for guiding and assisting the Homeowners Association and helping owners with problems or questions, as well as carrying out the policies and decisions of the Board of Trustees. The Managing Agent also has the responsibility of the daily management and operation of the community and the Community Facilities. Towne Properties Asset Management Company is a professional management firm specializing in property management. They are hired by the Board of Trustees to advise, assist and implement decisions made by the Board. The following items are included in the contract for management. Collection and billing of homeowner assessments. Payment of operating expenses. Accounting and financial reporting. Printing and distribution of any notices. Direction of Association employees and contractors. General maintenance. Maintenance and supervision of insurance coverages. Emergency maintenance. Custodial care of books and records involving Association activities. Handling resident requests. Community coordination and communication. Contracting services and overseeing contractors. Assisting the Board with budget planning. Please distinguish between the Managing Agent and the members of the Board of Trustees. Your Trustees establish policies and make decisions which the Managing Agent implements on a day-to-day basis in operating Bristol Lake Community. Please direct your questions and comments regarding your community to the Managing Agent for the proper attention. Your Managing Agent meets with the Board of Trustees on a regular basis, at which time the affairs of the community are fully reviewed. 3

PURPOSE OF THE BOARD OF TRUSTEES The purpose of the Board of Trustees is to allow for elected representatives of all owners/members to set forth and administer policies and procedures, and to make managerial decisions affecting the operation and maintenance of Association business and all commonly held real property. The members of the Board of Trustees, being duly appointed and/or elected, are recognized by the State of Ohio as officers of the Corporation and have the authority to enter into contractual obligations, carry out and enforce all provisions of the Declaration, Articles of Incorporation and By-Laws, and may assign such responsibilities as deemed appropriate to the Managing Agent. SOME OF THE RESPONSIBILITIES OF YOUR BOARD OF TRUSTEES Establish the policies and regulations that govern the Association. Supervise and prescribe the duties of the Managing Agent. Approve the Operating Budget and all expenditures made by the Association. Set the amount of the unit assessments. Enforce architectural control. Maintain the common areas and structures located on common property. Keep a complete record of corporate affairs and report to homeowners. 4

DUTIES OF OFFICERS President The President shall be the chief executive officer of the Association. He shall preside at meetings of the members of the Association and shall preside at all meetings of the Board of Trustees. Subject to direction of the Board of Trustees, the President shall have the general executive supervision over the Association and shall have such other authority and shall perform such other duties as may be determined by the Board of Trustees or otherwise provided for in the Declaration or in the By-Laws. Vice President The Vice president shall perform the duties of the President whenever the President is unable to act and shall have such other authority and perform such other duties as may be determined by the Board of Trustees. Secretary The Secretary shall keep the minutes of all meetings of the members of the Association and of the Board of Trustees. He shall keep such books as may be required by the Board of Trustees and shall give notices of meetings of members of the Association and of the Board of Trustees as required by law, or by these By-Laws or otherwise, and shall have such authority and shall perform such other duties as may be determined by the Board of Trustees. Treasurer The Treasurer shall receive and have charge of all money, bills, notes and similar property belonging to the Association, and shall do with the same as may be directed by the Board of Trustees. He shall keep accurate financial accounts and hold the same open for the inspection and examination of the Trustees and shall have such authority and shall perform such other duties as may be determined by the Board of Trustees. Member at Large The Member at Large shall participate in duties as determined by the Board of Trustees. The Member at Large position provides for 5 voting positions on the Board of Trustees. 5 voting positions eliminate the opportunity for a tie to occur when items are presented to the Board for a vote. The Board of Trustees shall have the power to employ a Manager or Management Company, as they deem necessary, and to prescribe their duties. 5

RE SERVES WHY DO WE HAVE THEM? The Reserve Account is the Association's way of setting aside money for the future repairs and replacements. During the year, a certain portion of your Association fee is set aside in a special interest bearing account to plan for the replacement and repair of the common areas. This helps to protect and preserve property values. This then, is naturally included in the overall budget for the Association. Your ability to sell your unit can be influenced by the adequacy of, or non-existence of reserves set aside by the Association. Primary lenders consider Reserves for future needs a key part of a good financial policy and can consequently be more receptive to lending money in communities with a good, established Reserve Account policy. Reserves do, therefore, directly affect the resale value in Associations. SALE OR REN TAL OF HOME When you decide to sell or to rent your home either by Owner or through a Realtor, you need to transfer not only your property, but also the responsibilities of membership in the Association. You do this by transferring all three Documents cited on page 2 of this booklet. To assist you in this, these documents may be found at www.bristollake.com. Please call Towne Properties (513/489-4059), as there are necessary forms that need to be completed regarding Association fees. If you Sell: Your buyer will become a member of the Association and be subject to the Covenants and the By-Laws when the owner takes title to the house. If you Lease or Rent your home: Your tenant must be made familiar with the Covenants and the By-Laws of the Association so that you are protected against your tenant's inadvertent violation of them through ignorance. The owner, not the tenant, is held responsible to the Association for your tenant's behavior. 6

COLLECTION POLICY The prompt payment of your semi-annual or special assessments is essential to the maintenance of Bristol Lake Community. Collection will be strictly enforced. The late payment of assessments affects all the residents in Bristol Lake. Your Association provides invoices that state the due date and the amount of your assessments. Please read Article V/Assessments of your Declaration of Covenants very carefully. Bristol Lake HOA currently collects the annual assessment in two equal installments. The first is due by January 1 st and the second due by July 1 st of each year, each considered a Due Date. You are considered delinquent if you have not made payment by the Due Date and formal collection procedures begin if payment in full, including any penalties, interest and collection expenses incurred, has not been made within 30 days of the Due Date. Below is a summary; the governing policy is contained within the Declaration of Covenants and Resolution 2005-1. A. FIRST NOTICE: Mailed to any owner that is delinquent and has not paid within 30 days from the due date, interest will be charged at a rate of 10% per annum, together with a one-time administrative collection charge of $25.00 per assessment, as well as a penalty of $5.00 per month until paid. B. CERTIFIED LETTER NOTICE: Mailed Fifteen (15) days after the delinquent notice goes out. The homeowner will be responsible for the charged amount of the certified postage fee. This notice will request full payment within thirty (30) days from the date of notice or a lien will be recorded with NO FURTHER NOTICES BEING SENT. C. LIEN: If the homeowner is still delinquent after the 30-day due date from the time the certified letter was sent out, a lien will be prepared and recorded against the respective homeowner by the attorney of record. The Homeowner will be responsible for all accrued association fees and incurred legal fees. D. FORECLOSURE: Any lien remaining unpaid for a period of over thirty (30) days and representing a total amount due of 4 semi-annual installments or an amount greater than $700, the Board of Trustees, by Resolution, may request the Association's Attorney enforce action as provided for in the Declaration of Covenants, Conditions, Restrictions, Easements and Liens of Bristol Lake Homeowners Association. If a homeowner is delinquent, all common area privileges, such as fishing rights, and use of the pool and playground, are suspended when a homeowner is delinquent in paying their annual assessment. 7

SPECIAL ASSESSMENTS Occasionally a community may have special needs for maintenance, repairs, or projects that were unforeseeable during the budgeting process. If this occurs and if there are insufficient contingency funds in the operation budget or Reserve Fund to cover the unexpected expenses, the Board has the authority to approve special assessments in addition to your monthly fees, in order to cover expenses. Great care is given to avoid special assessments by carefully planning the community's budget and reserve funding requirements. In the unlikely event that a special assessment becomes necessary, homeowners will be fully informed. Your Documents, Article V explains this topic more fully and control of the circumstances in which special assessments may be made. INDIVIDUAL ASSESSMENTS In the event that any damage is caused to any of the common areas through the willful or negligent act of a homeowner, his family, tenants, guests or invitees, the Board shall have the obligation to correct or repair any such damage, and the cost will be added to the annual assessment due from that homeowner, or his family, tenants, guests or invitees causing such damages. 8

ARCHITECTURAL CONTROL GUIDELINES ARCHITECTURAL CONTROL APPLICATION - The Association has been charged with the responsibility of maintaining the aesthetic and architectural character of Bristol Lake Community. Any owner desiring to make any exterior change, improvement, or addition (including any change in color) must obtain approval for the change or improvement from the Board of Trustees. All applications will be considered on an individual basis, and all reasons presented for the improvements will be weighed and evaluated, based on the following considerations: 1. The harmony of external design and location in relation to surrounding buildings in the community. 2. The recognition of future maintenance problems or expenditures the installation might cause the Association. 3. Adherence to guidelines established in the Declaration. The procedures for this are as follows: 1. Submit to Towne Properties Asset Management Company, a complete description of the improvement with a drawing, photograph or catalogue picture specification, as necessary and attach to a filled out improvement application. Improvement applications can be obtained by contacting Towne Properties or can be obtained from the Bristol Lake website (www.bristollake.com) under Documents and Forms. 2. The Board will be notified and the request will be reviewed on or before the next scheduled meeting, and the application will be approved, disapproved or additional or alternative recommendations for the improvement will be suggested. The owner will receive notice of the same within seven days from the date of meeting. 3. Any change or improvement made by an owner is the responsibility of the owner for maintenance, repair and/or replacement. 4. Unauthorized changes or improvements must be removed or restored to original condition at the discretion of the Board of Trustees and will be at the expense of the owner. The purpose of the Architectural Control approval is not to discourage improvements but to control the nature of improvements to those that enhance the value, conform to the overall aesthetic appearance of the Association and adhere to the guidelines outlined in the Declaration. This control should be looked upon as a protection of your investment. The Board of Trustees and the Association members are in favor of improvements and hope that owners will desire to personalize and enhance their homes. 9

PETS Please be courteous to your neighbors when considering pets. Dogs, cats and other household pets are permitted in the Bristol Lake Community provided they are not kept for commercial purposes. All pet owners are responsible for CLEANING UP AFTER THEIR PETS. No animal may be a nuisance by barking, howling, or making loud noises so as to disturb your neighbors rest or peaceful enjoyment of their home. Dogs and cats must be under leash control at all times on common property. Please review your Declaration of Covenants for the other restrictions, including the number of pets allowed in each home. 10

MAINTENANCE PROCEDURES COMMON AREAS: Includes all portions of the Association property that is owned by all members of the Homeowners Association collectively. The responsibility for maintaining, repairing or replacing shall be borne by the Association, the funds being provided for by the annual assessment fees paid by each owner. Periodic building maintenance and operations are normally handled by the staff under the direction and supervision of the Management Company according to the guidelines established by the Board of Trustees for the Homeowners Association. The exceptions to this are those services needing to be performed by professional contractors or companies specializing in the area of expertise required. In some instances, outside contractors may also be used for jobs. When a particular job requires the use of outside contractors and / or companies, a bidding process is generally used whereby job specifications are written out a minimum of three contractors are solicited to submit bids by a specified deadline. The bids are reviewed by the Management Company and presented to the members of the Board of Trustees for review, discussion and a vote. The bids are reviewed for value, qualifications, reputation, timely completion dates, adequate insurance coverage s, and other pertinent factors. Following is a brief description of various building services and the method by which they are normally performed: GROUND CARE: POOL CARE: LAKE CARE: Lawn and shrub areas are maintained during spring and summer months by a contractor approved by the Board of Trustees. The pool is maintained and meets the requirements as stated by the Clermont County Board of Health. These services are also performed by an independent contractor. The water is chemically treated to maintain the health and beauty of the lake. These services are performed by an independent contractor. 11

COMPLAINT PROCEDURE There are times when everything isn t going according to plan, or the plan is no good, or somebody is stepping on our toes in one way or another. Most of us try not to encroach on our neighbors rights and privileges and to treat others as we would like to be treated. Accordingly, there must be a way to get a problem solved, especially when a fellow Homeowner is violating the Covenants. The Board is powerless to do anything substantive without a written paper trail or documentation. Therefore, as part of the complaint procedure, a form is available through the management company to expeditiously solve issues or problems that may arise. The procedure is as follows: 1. Homeowner tries to resolve issue by discussion with the offending party. If not resolved: 2. Contact Towne Properties by phone or email explaining your complaint, the steps you have taken toward a reasonable solution and your suggested solution to the problem. 3. The following steps will be taken as necessary to resolve the complaint: a. Initial letter sent by Towne Properties to the offending party. b. If there is no resolution, a second letter will be sent. c. If after these letters, the problem or complaint is not resolved, the issue will be taken to the Board and recommendations will be made to alleviate the complaint. 12

ANNUAL MEETING The annual meeting is a meeting of Homeowners, held for the primary purpose of communicating a status by the Board, accomplishments for the year and electing homeowners to the Board of Trustees. Members of the Association may vote or act in person or by proxy. The annual meeting is held each year at the beginning of February. ANNUAL MEETING PROCEDURE 1. Notices for the Annual Meeting should be mailed to each homeowner of record, 10-30 days before each meeting-15 days is normal. 2. Notices will inform each owner as to the purpose of the meeting (election of Board Members), date, time and location of the meeting. The Notice will: Explain the proxy and how it may be assigned to any person or assigned to the Board. May also include a brief resume from each Board candidate. Will include the Agenda for the Annual Meeting. The agenda should define the date, time and place of the meeting, as well as those items described in the By-Laws and/or additional items such as By-Law change vote, etc. In addition, the agenda should allow a set amount of time (2 minutes) for each Board candidate to address the Association. Notice should include: Proxy Agenda Candidates Resumes 13

MEETING PROCESS 1. A sign in sheet will be provided listing all the owners names and addresses with space available for signature. You must sign in. 2. The homeowner will sign their name next to their address and name and then receive a ballot. If the homeowner or other appointee has been assigned a proxy, they should sign their name on the line of the person who assigned the proxy. Then they will receive a ballot. The sign in sheet will then be marked with a (p) by the staff member. On all proxies assigned to the Board, the same procedure should apply; only Board should be used in the assigned space. NOTE: the staff members keep all proxies in their possession. Meeting called to order: 1. The agenda should be followed. 2. Board to provide update on events of the year and accomplishments. 3. Election nominations will be asked from the floor. Give each nominee two minutes to address the meeting. 4. Close nominations. 5. Restate each candidate s name. 6. Ask the residents to vote their ballots. 7. Gather the ballots. 8. The ballots should be counted by the staff or persons appointed at the meeting. If the results are close, the ballots should be recounted. 9. The results should be presented to the Board Secretary in writing and signed by the persons who are tabulating the ballots. 10. The results of the voting should be read twice to the audience. 14

BRISTOL LAKE POOL RULES The Pool Rules are intended to create a safe and enjoyable environment for all Association members. It is the responsibility of each resident to see that these rules are enforced in order to maintain a safe pool area for the use and recreation of all. 1. The Pool is for the use of those members who are current in payment of their Assessments. 2. Guests must be accompanied by a resident. At any one time, there is a limit of four (4) guests per household. 3. The official hours of the pool shall be from 9:00 a.m. until 9:00 p.m., open daily from Memorial Day through Labor Day. 4. For the safety of the resident children, children under 15 must be accompanied by a parent, guardian or baby sitter, who must be present with children in the pool area. 5. No glass containers are allowed in or around the pool area. 6. No pets are permitted in or around the pool area. 7. No running, pushing, or rough horseplay will be permitted in the pool area. 8. Throwing objects in the pool area is prohibited. 9. Proper swim attire is to be worn at all times in the pool. (Cut-off jeans and other street clothes are prohibited). Infants must wear swimming attire and be wearing rubber pants and/or swim diapers while in the pool. No diapers, cloth or disposable (other than swim diapers) allowed. 10. Large inflatable floatation devices are not permitted in the pool area. 11. Absolutely NO DIVING will be permitted. 12. Pool furniture must not be removed from the pool deck area. 13. Swim at your own risk. 14. The telephone is for EMERGENCY CALLS ONLY and is limited to outgoing calls. The Board of Trustees has the obligation and right to suspend the membership and pool privileges for any member that abuses their privilege or creates a safety hazard for others. THESE RULES ARE FOR YOUR SAFETY AND SWIMMING PLEASURE AND MAY BE AMENDED BY THE BOARD OF TRUSTEES AS NECESSARY. If you have a concern regarding violations of these rules, which jeopardizes the safety of our residents, please call Towne Properties at (513) 489-4059. If you need to obtain a pool key, please contact Towne Properties at (513) 489-4059. 15

Suggestions and Comments Your Board of Trustees is always receptive to feedback and comments from the Association s members, including ideas to improve or enhance this Welcome Package. To facilitate this flow of communication, there are several ways to initiate contact with your Board: 1. Contact Towne Properties (513) 489-4059 or PropertyMgr@bristollake.com 2. Contact your Board via email (each Board member has an email account): a. President@bristollake.com b. Vice-President@bristollake.com c. Treasurer@bristollake.com d. Secretary@bristollake.com e. Ambassador@bristollake.com 3. Visit the Contact Us page at www.bristollake.com for other options, including phone numbers and an online comments/feedback form that can be completed and submitted electronically. 16