1. Persimmon Creek Annual Meeting August 23, 2012 www.PersimmonCreekHOA.com

2. Your Board Term Expires Andrew YoncePresident & CEOAugust 2013 Marlin McCoyVice PresidentAugust 2012 Jaclyn CarterSecretaryAugust 2013 John StockerTreasurerAugust 2012 Nick LayMember at largeAugust 2013 Steve ReevesChairman, Grounds CommitteeAugust 2012 Pete DickinsonMember at largeAugust 2013 Derek EdwardsMember at largeAugust 2013 Jessica StaufferMember at largeAugust 2012 Kurt ColburnChairman, Architectural CommitteeAugust 2013 Derek MinkerMember at largeAugust 2012 Dan HallMember at largeAugust 2013 Sala DanboiseMember at largeAugust 2013

3. Important Information Persimmon Creek Phase 5 (Front Lot) ◦ Building started, model to be finished soon. ◦ No word on # of units under contract or sold at this time. Persimmon Creek Phase 4 (Back Lot, Over the creek) ◦ No plans to start at this time.

4. Important Information Corron’s Trash Removal 410-287-4790 ◦ Preferred Community Trash Hauler ◦ Special Community Pricing, With No Fuel Surcharge ◦ Ask for the Persimmon Creek pricing

5. Important Information Snow Plowing ◦ Our Property Taxes cover Snow Removal ◦ Cecil County Public Works, Road Division  410-996-5259 Miss Utility ◦ Call Prior to Doing Landscaping Work to Avoid Hitting Cable or Phone Lines  1-800-257-7777 Trash ◦ Please help us keep our community looking beautiful, If you see stray trash please pick it up. Parking ◦ Parking is only permitted in the assigned spaces. ◦ Please help us patrol this buy calling the Cecil County Sherriff's office to report parking violations. They are responsible for county owned road. The HOA does have the power to fine for a parking offence, however the Sherriff's office has a much faster process and will quickly issue a $50 parking ticket.

6. President’s Priorities 2011-2012 Maintaining a Balanced Budget Continuing the Downward Delinquency Trend 2010-2011 11% or 21 Homes Goal for 2012 is 8% or less We are at 8.9% or13 homes in collections ~ 8 being new this year Playground Renovation Project (Planning ) Maintain Community Common Areas Continued Monitoring of the Blenheim Project

7. 2011 -2012 Year in Review Strong Financial Position Delinquencies are Down again 3 rd year running Gazebo Vandalism Community Incidents

8. 2012 -2013 Goals Playground Restoration – Fall or early Spring Replace Gazebo roof Community Yard Sale Publish Paint Color Standards Publish a community news letter

9. FY 2011-2012 Financial Report Current Cash Position Cash balance (7/31) $ 40,550.09 Estimated Ending balance (8/31) $ 35,619.00 We remain on target is to have one year of HOA expense the reserve by 2014. Back Dues owed to the community is $8893.79 (as of 7/31/2012)

10. FY 2012-2013 Dues Dues will be going from $219 to $239 for 2012-2013 Allow us to have a stronger fiscal position. Have funds to maintain and improve the community. Be prepared for rising cost in the future. Things to keep in mind: Dues notices will be mailed Sept 1 st Dues are due Sept 30 th All reasonable payment plans accepted, Contact Aspen Failure to pay will result in account being sent to collections

11. FY2012 - 2013 Budget Dues for 2012-2013 will be $239 per home2012/13 Budget Income 06310 - Association Fees $ 44,639 Expense 07010 - Management Fees 11,220 07020 - Accounting & Audit Fees 400 07160 - Legal Fees 500 07280 – Insurance 2,200 07300 – Website 250 07320 - Office Expense 2,000 07410 – Community Expense 150 07990 - Bad Debt Expense 5,000 08910 – Electricity 5,000 09020 - Grounds Maintenance 7,300 09110 - Repair and Maintenance 500 09140 – Janitorial 2,700 09410 - Grounds Committee 633 End of Expense $ 37,853 09910 - Reserves - Saving Contribution $ 6,840.00

12. Board of Directors Standing for Election Term Expires Marlin McCoyAugust 2012 John StockerAugust 2012 Steve ReevesAugust 2012 Jessica StaufferAugust 2012 Derek MinkerAugust 2012

13. Aspen Property Management General Email: info@aspenpropertymgmt.cominfo@aspenpropertymgmt.com Brad Carrillo, President/Property Manager Email: bcarrillo@aspenpropertymgmt.com bcarrillo@aspenpropertymgmt.com Allison Fenwick, Property Manager Email: afenwick@aspenpropertymgmt.comafenwick@aspenpropertymgmt.com Website: http://www.aspenpropertymgmt.comhttp://www.aspenpropertymgmt.com Please note the new address 200 East Main Street Elkton, MD 21921 Phone: (410) 620-2598 Fax: (443)303-8890

14. Aspen Management Report Aspen visits the Community once a week  To date we have opened 120 violations  We have resolved 118 violations  We are currently working on 2 violations Typical Enforcement Procedure ◦ Initial warning ◦ Second Warning ◦ Final Warning ◦ Advise the Board to make a determination to send to legal for enforcement or attempt to resolve with an alternative method.

15. Aspen Focus for 2012-2013 Manage 2012-2013 HOA Billing / Processing Collect on Pass Due Accounts Manage Finances to the Board’s Budget Focused Enforcement of the following: ◦ Homeowner Landscaping Maintenance ◦ Exterior Home Maintenance ◦ Trashcans Storage ◦ Parking Other Tasks as Assigned

16. Thank You for Attending Questions?