The Vineyards at Dublin Greene Owners Association

Transcription

1 The Vineyards at Dublin Greene Owners Association IMPORTANT 2019 BUDGET DOCUMENTS Please note that effective January 1, 2019, your regular assessment payment amount has changed. Your new assessment is $220 per unit per month effective January 1, Action Required: Your attention is required as follows: If you mail your payment or pay via your own bank s bill pay system, you will need to update the amount paid. If you set up recurring payments via the Union Bank website, you must log into your account at Union Bank and update your payment amount. Please see the How to Pay My Assessment document in this packet for more details. If you set up a recurring payment via credit card, you will need to log into your account at Pay Lease to make the change. Please see the How to Pay My Assessment document in this packet for more details. No Action Required: If you set up automatic payments (ACH) with Common Interest, you do not need to take any action as your automatic payment will be updated for you. For questions, please contact accounting@commoninterest.com.

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3 The Vineyards at Dublin Greene Owners Association c/o Common Interest Management Services 315 Diablo Road, Suite 221, Danville, CA Phone (925) November 2, 2018 RE: 2019 Annual Budget Report and Annual Policy Statement Dear Homeowner(s): Each year the Board of Directors is required by law to prepare and distribute an Annual Budget Report and Annual Policy Statement for the upcoming year. A copy of these documents and other pertinent information for the 2019 fiscal year are enclosed for your review. The Annual Budget Report includes a pro-forma operating budget which shows an estimate of revenues and expenses for the upcoming year. Based on this budget, assessments for individual property owners may be subject to change. The monthly assessment for 2019 will increase to $220 per unit effective January 1, Your Association is a nonprofit corporation whose board now anticipates several years of larger than historical Reserve ("savings") assessment increases. Recent professional financial analysis found these increases are needed to maximize your Association's ability to timely fund its upcoming capital obligations under the prevailing local economic conditions. Examples of capital obligations are road asphalt repairs, painting, and replacing deteriorated Common Area components as the property ages. Your Board of Directors are volunteer owners who pay the same assessments as any other owner and thus do not wish to increase our assessments any more than necessary. The Annual Budget Report also includes the following items: Reserve Study (including a summary of current reserves, a funding plan for future reserve contributions and procedures used to calculate reserve requirements); Budget Disclosures (including statements regarding deferral of major component repairs, anticipated special assessments or outstanding loans, if any); Insurance Summary; and Assessment and Reserve Funding Disclosure Summary. The Annual Policy Statement contains important information pertaining to the Association, including General Information (management company contact information, how members may receive notices and meeting minutes, etc.), Notice of Assessments and Foreclosure, Assessment Collection Policy, Member Discipline and Fine Policy, Dispute Resolution Procedures, Architectural Guidelines, How to Pay Assessments and/or other documents the Board has determined to be appropriate for inclusion. Any questions about the enclosed documents should be directed to your Community Association Manager, Crystal Ridge, at (925) , ext. 278 or via at cridge@commoninterest.com. Best Regards, Crystal Ridge, CCAM On behalf of the Board of Directors The Vineyards at Dublin Greene

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5 THE VINEYARDS AT DUBLIN GREENE OWNERS ASSOCIATION 2019 FISCAL YEAR OPERATING BUDGET Approved by the Board of Directors on August 21, ANNUAL 401, MONTHLY 33, Per Unit Per Month , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , TOTAL RESERVE CONTRIBUTIONS 169, , TOTAL EXPENSES 401, , OPERATING INCOME ASSESSMENT REVENUE GL Code TOTAL REVENUE OPERATING EXPENSES UTILITIES GAS & ELECTRIC WATER & SEWER TOTAL UTILITIES REPAIRS & MAINTENANCE POOL MAINTENANCE CONTRACT POOL REPAIRS IRRIGATION/BACKFLOW REPAIRS LANDSCAPING EXTRAS LANDSCAPING CONTRACT TREE TRIMMING/REMOVAL/REPLACEMENT LIGHT MAINTENANCE & REPAIRS GENERAL MAINTENANCE GUTTER CLEANING JANITORIAL CONTRACT PEST CONTROL CONTINGENCY TOTAL REPAIRS & MAINTENANCE ADMINISTRATIVE BAD DEBT EXPENSE BLANKET INSURANCE LEGAL FEES TAX PREP/ANNUAL TAX REVIEW FEES & LICENSES MANAGEMENT & ACCOUNTING SERVICES MANAGEMENT/ADMINISTRATIVE EXTRAS POSTAGE, COPIES & BILLINGS ANNUAL RECORD & VENDOR MGMT COLLECTION COSTS WEBSITE TAXES-STATE & FEDERAL TOTAL ADMINISTRATIVE TOTAL OPERATING EXPENSES RESERVE CONTRIBUTION RESERVE TRANSFER

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7 The Vineyards at Dublin Greene Owners Association 2019 Annual Budget Report and Policy Statement Important Information Please Read Association Information The Vineyards at Dublin Greene Owners Association ( Association ) is a nonprofit mutual benefit corporation formed to operate and manage the Association s affairs. The Association consists of 152 separate interests plus common areas. It is governed by a volunteer Board of Directors elected by the membership. The fiscal year commences January 1 st and ends on December 31 st of each year. Management Company Information The Association, through the Board, has engaged a professional management company to assist in carrying out its legal responsibilities. Our management company is Common Interest Management Services located at 315 Diablo Road, Suite 221, Danville, CA Our manager is Crystal Ridge, and she can be reached at (925) , ext. 278 or by at cridge@commoninterest.com. Office hours are Monday through Friday, 8:30 AM to 4:30 PM. Pro-forma Operating Budget Each fiscal year, the Association is required to prepare a pro-forma operating budget showing the estimated revenue and expenses on an accrual basis for the upcoming year. This budget is used to determine the per unit assessments that are collected from each property owner. The Board of Directors has reviewed and approved this budget, and has determined that the monthly assessment for 2019 will increase to $220 per unit. Reserve Study Summary The Annual Budget Report includes a Reserve Study that was prepared by an independent professional organization which the Board believes is reasonably competent. A full study (with site inspection) is prepared every three years, reviewed and adopted by the Board of Directors, and updated annually as needed. The Study includes the current estimated cost, estimated remaining life and estimated useful life of major common area components; the current estimate of the total annual reserve contribution necessary to repair, replace, restore or maintain these components; and the current amount of reserves actually set aside for this purpose. The Study also shows the percentage difference between the estimated cost to repair, replace, restore or maintain major components and the actual amount of reserves set aside, as well as the current deficiency (if any) in reserve funding expressed on a per unit basis. Reserve Funding Plan The Reserve Study includes a Reserve Funding Plan adopted by the Board of Directors that indicates how the Association plans to fund the contributions necessary for the repair and replacement of all major common area components with an expected remaining life of 30 years or less. Procedures for Calculating Reserves The Reserve Study includes a statement of the procedures used for the calculation and establishment of the reserves needed to pay for the future repair and replacement of those components that the Association is obligated to maintain. Calculation of the amount of reserves needed to be accumulated for a component at a given time is based on the current cost of the replacement or repair multiplied by the number of years the component has been in service divided by the useful life of the component. Assessment and Reserve Funding Disclosure Summary The Annual Budget Report includes a copy of the current Assessment and Reserve Funding Disclosure Summary as completed by the Reserve Study preparer pursuant to Civil Code Section Deferral of Component Repairs If the Board of Directors decides to defer or not undertake the repair or replacement of any major common area component with an expected remaining life of 30 years or less, the Board must disclose the justification for such a decision. As of the date of this report, the Board has not made any formal decisions to defer or not undertake the repair or replacement of any major common area components. Special Assessments If the Board of Directors has determined or anticipates that the levy of one or more special assessments will 1

8 be required to repair, replace, restore or maintain major common area components or to provide adequate reserves to fund such items, the Association must distribute a statement including the estimated amount, commencement date and duration of the special assessment. As of the date of this report, the Board does not anticipate that a special assessment will be required. Outstanding Loans If the Association has any outstanding loans with an original term of more than one year, the Association must distribute a statement including the payee, interest rate, amount outstanding, annual payment and when the loan is scheduled to be retired. As of the date of this report, there are no outstanding loans for this Association. Insurance Disclosure Summary The Annual Budget Report includes a current Insurance Disclosure Summary of the Association s property, general liability and fidelity insurance (and/or earthquake, flood or workers compensation insurance if applicable). This Disclosure Summary includes the name of the insurer, the type of insurance, the policy limit and the amount of the deductible. This Summary of the Association s policies of insurance provides only certain information, as required by Section 5300 of the Civil Code, and should not be considered a substitute for the complete policy terms and conditions contained in the actual policies of insurance. Any Association member may, upon request and provision of reasonable notice, review the association s insurance policies and, upon request and payment of reasonable duplication charges, obtain copies of those policies. Although the Association maintains the policies of insurance specified in this summary, the Association s policies of insurance may not cover your property, including personal property or real property improvements to or around your dwelling. Even if a loss is covered, you may nevertheless be responsible for paying all or a portion of any deductible that applies. Association members should consult with their individual insurance brokers or agent for appropriate additional coverage. Association s Designated Recipient The Association has designated Common Interest Management Services to receive official communications to the Association pursuant to Civil Code Section Members may submit official communications to the Association by personal delivery (including U.S. Mail) and/or to Common Interest Management Services at the mailing address and/or address listed under Management Company Information. Right of Notice to Two Addresses Members of the Association may submit a request to have general notices sent to up to two different specified addresses pursuant to Civil Code Section 4040(b). Note that billing statements and election ballots will only be sent to the member s primary address. General Notice Location The Association posts notices of a general nature at the following location: Mailbox Kiosk. General Notice - Individual Delivery If a member requests to receive general notices by individual delivery, all general notices given to that member shall be delivered pursuant to Civil Code Section Board of Directors Meetings Board of Directors Meetings are normally held quarterly at 6:30 at the Dublin San Ramon Service District Office located at 7051 Dublin Blvd., Dublin. All Association members are welcome to attend. Right to Receive Board Minutes The minutes, minutes proposed for adoption that are marked as draft status, or a summary of the minutes, of any meeting of the Board of Directors, other than an executive session, shall be available to members within 30 days of the meeting. The minutes, proposed minutes or summary minutes shall be distributed to any member of the Association upon request and upon reimbursement of the Association s costs for making that distribution, pursuant to Civil Code Section Members may submit a written request for copies of minutes to Common Interest Management Services at the mailing address listed under Management Company Information. Meeting minutes are also posted on the Association Website. Notice of Assessments/Foreclosure The Annual Policy Statement includes a Notice of Assessments and Foreclosure pursuant to Civil Code Section This Notice outlines some of the rights and responsibilities of owners in common interest developments and the associations that manage them. 2

9 Assessment Collection Policy The Annual Policy Statement includes a copy of the Association s Assessment Collection Policy, which describes the policies and practices in enforcing the Association s lien rights or other legal remedies for default in the payment of assessments. Enforcement of Governing Documents and Monetary Policy Schedule All members, residents and guests are obligated to abide by the Governing Documents. The Association encourages each member to review the CC&Rs, Bylaws, Articles and all Rules and to attend board or committee meetings to learn more about the requirements of the Governing Documents. The Association s goal is to assist members, residents and guests in complying with the Governing Documents to promote an enjoyable, safe community beneficial to all. In the event of a perceived violation of the Governing Documents, the Association will investigate and determine whether and what type of action is warranted (if any). Association action includes scheduling a hearing to consider imposing fines and/or penalties. At least 10 days prior notice of a hearing (at which fines and/or penalties will be considered) shall be given to a Member, who may attend and respond to the notice and potential fine and/or penalty as set forth more specifically in the Governing Documents. A fine and/or penalty may be imposed regardless of whether the Member attends the hearing. In addition to fines and other penalties, the Board may, following a hearing, impose a special purpose assessment to recover the cost of performing or enforcing any responsibility which would otherwise be the responsibility of a Member to perform under the Governing Documents. Fines and special purpose assessments may be recovered in any matter permitted by law. Fine Policy The Annual Policy Statement includes a copy of the Association s Fine Policy which includes a schedule of monetary penalties for violations of the Governing Documents pursuant to Civil Code Section Dispute Resolution Procedures California law provides a means by which Members and the Association can engage in mediation, arbitration or other forms of dispute resolution with respect to disputes arising under the Nonprofit Mutual Benefit Corporation Law (Part 3 commencing with Section 7110) of Division 2 of Title 1 of the Corporations Code), enforcement of the Governing Documents and the Davis-Stirling Common Interest Development Act. Generally, Civil Code Section 5965 requires parties to request mediation or arbitration before filing a lawsuit to enforce the governing documents with certain exceptions. Mediation, arbitration and other techniques other than litigation intended to resolve disputes are referred to as alternative dispute resolution ( ADR ). ADR involves use of a neutral party to assist the parties in reaching a dispute without litigation. If litigation results, the prevailing party is entitled to an award of reasonable attorney fees and costs. California law requires a common interest development to make the following disclosure: Failure of a member of the association to comply with the alternative dispute resolution requirements of Section 5930 of the Civil Code may result in the loss of the member s right to sue the association or another member of the association regarding enforcement of the governing documents or the applicable law. Civil Code Section 5920 also requires a common interest development to describe its internal dispute resolution procedure. That procedure, unless another is adopted, is as follows: (a) Fair, reasonable, and expeditious (b) Either party to a dispute within the scope of this article may invoke the following procedure: (1) The party may request the other party to meet and confer in an effort to resolve the dispute. The request shall be in writing. (2) A member of an association may refuse a request to meet and confer. The Association may not refuse a request to meet and confer. (3) The Association's board of directors shall designate a member of the board to meet and confer. (4) The parties shall meet promptly at a mutually convenient time and place, explain their 3

10 positions to each other, and confer in good faith in an effort to resolve the dispute. (5) A resolution of the dispute agreed to by the parties shall be memorialized in writing and signed by the parties, including the board designee on behalf of the association. (c) An agreement reached under this section binds the parties and is judicially enforceable if both of the following conditions are satisfied: (1) The agreement is not in conflict with the law or the governing documents of the common interest development or association. (2) The agreement is either consistent with the authority granted by the board of directors to its designee or the agreement is ratified by the board of directors. (d) A member of the Association may not be charged a fee to participate in the process. Overnight Payment of Assessments The Annual Policy Statement includes a How to Pay My Assessment flyer which provides the mailing address for overnight payment of assessments pursuant to Civil Code Section Architectural Guidelines & Procedures The Annual Policy Statement includes a summary of the Association s requirements for approval of a physical change to property, describing the types of changes that require Association approval and including a copy of the procedure used to review and approve (or disapprove) a proposed change. An Architectural Application is also attached. 4

11 FHA Certification Disclosure California law (Civil Code Section 5300(b) requires the following statement describing the status of the common interest development as a Federal Housing Administration (FHA)-approved condominium project pursuant to FHA guidelines, including whether the common interest development is an FHA-approved condominium project. The statement shall be in at least 10-point font on a separate piece of paper and in the following form: Certification by the Federal Housing Administration may provide benefits to members of an association, including an improvement in an owner s ability to refinance a mortgage or obtain secondary financing and an increase in the pool of potential buyers of the separate interest. This common interest development is a condominium project. The association of this common interest development is not certified by the Federal Housing Administration. For current information on whether or not a common interest development is certified by the Federal Housing Administration, please visit the following website: 5

12 VA Certification Disclosure California law (Civil Code Section 5300(b) requires the following statement describing the status of the common interest development as a federal Department of Veterans Affairs (VA)-approved condominium project pursuant to VA guidelines, including whether the common interest development is a VA-approved condominium project. The statement shall be in at least 10-point font on a separate piece of paper and in the following form: Certification by the federal Department of Veterans Affairs may provide benefits to members of an association, including an improvement in an owner s ability to refinance a mortgage or obtain secondary financing and an increase in the pool of potential buyers of the separate interest. This common interest development is a condominium project. The association of this common interest development is not certified by the federal Department of Veterans Affairs. For current information on whether or not a common interest development is certified by the federal Department of Veterans Affairs, please visit the following website: 6

13 Owner's Summary The following Owner's Summary is intended to disclose pertinent information regarding the status of THE VINEYARDS AT DUBLIN GREENE OWNERS ASSOCIATION. The reserve fund is a separate fund, setup by the Association, for the repair, replacement, restoration, or maintenance of major components for which the Association is required to maintain. THE VINEYARDS AT DUBLIN GREENE OWNERS ASSOCIATION Full Reserve Study With On-site Visual Inspection October 3, 2018 Reserve Study for Fiscal Year: 01/01/2019 through 12/31/ Camden Ave. Suite 151 San Jose, CA PH: (408)

14 Reserve Study Financial Summary THE VINEYARDS AT DUBLIN GREENE OWNERS ASSOCIATION Report Date: 10/3/2018 Dublin, CA Fiscal Year End: 12/31/2018 Status of the Reserve Fund as of December 31, 2018 Reserve Fund Cash Balance as of December 31, , Anticipated Interest Revenue prior to December 31, , Community Information Fiscal Year Start January 1, 2019 Fiscal Year End December 31, 2019 Anticipated Reserve Fund Contribution prior to December 31, , Anticipated Reserve Fund Expenditures prior to December 31, Community Type Townhomes Projected Reserve Fund Cash Balance 920, Number of Units 152 Year Built 2000 Projected Fully Funded Balance 2,725, Percent Funded 34% Last Inspected April 4, 2018 Average Reserve Fund Surplus / (Deficit) per Member (11,870.64) Five Year - Cash Flow Funding Plan Summary Fiscal Year Ending Reserve Contribution Special Assessment Percent Funded , % , % Computation Parameters Inflation Rate 3.00% Interest Rate 1.00% Threshold Factor 5.00% , % , % Prior Year Fund Contribution 144, , % Summary Notice: This five year funding plan summary is provided in accordance with California Civil Code Section The full reserve study plan is available and will be provided, by the Association, to any member upon request.

15 Component Inventory Detail Report THE VINEYARDS AT DUBLIN GREENE OWNERS ASSOCIATION Report Date: 10/3/2018 Dublin, CA Fiscal Year End: 12/31/2018 See General Information for Definitions R.L. U.L. Def. Quantity Unit Cost PM&A Anticipated Total Cost ADMINISTRATIVE Reserve Study Preparation 1 Reserve Study, Onsite Fund 1, % 1,838 2 Reserve Study, Update Fund % Reserve Study, Update Fund % 394 BUILDING SYSTEMS Appurtenant Structure 4 Pool House, Refurbish Sq.Ft % 19,845 5 Wood Trellises Sq.Ft % 11,143 6 Wood Trellises (all), Paint Sq.Ft % 3,309 7 Wood Trellis, Pool Sq.Ft % 14,338 Balcony 8 Balcony Deck & Railing, Major Repair Each 3, % 302,400 9 Balcony Deck Surfacing, Resurface Sq.Ft % 102, Balcony Deck Surfacing, Seal Sq.Ft % 17, Metal Balcony Railing Ln.Ft % 73,469 Exterior Doors 12 Exterior Doors, Utility Closets Each % 49, Garage Door, Metal, Sectional, Double - HOMEOWNER Each None 5.00% 0 RESPONSIBILITY 14 Garage Door, Metal, Sectional, Single - HOMEOWNER RESPONSIBILITY Each None 5.00% 0

16 Component Inventory Detail Report THE VINEYARDS AT DUBLIN GREENE OWNERS ASSOCIATION Report Date: 10/3/2018 Dublin, CA Fiscal Year End: 12/31/2018 See General Information for Definitions R.L. U.L. Def. Quantity Unit Cost PM&A Anticipated Total Cost Exterior Siding 15 Stucco Siding, 3% Repair Sq.Ft % 32, Stucco Siding, Paint Sq.Ft % 262, Wood Trim, Paint Ln.Ft % 33,056 The Remaining Life of this component has been adjusted to synch with stucco paint. Inspect buildings and touch up as needed in the interim to protect wood surfaces. 18 Wood Trim, Repair Fund Ln.Ft % 19, Wood Trim, Window Shutters Each % 238,875 Interior Renovation 20 Restrooms, Cabana Each 1, % 3,150 Misc. Building Systems 21 Mail Boxes, 4"x5" Cluster Each % 9, Mailbox Kiosk, Refurbish Each 1, % 14, Wood Destroying Pests, Treatment & Repairs Sq.Ft % 139,448 Roofing 24 Downspouts, Aluminum Ln.Ft % 46, Gutters, Aluminum Ln.Ft % 121, Roof Inspection & Repair Each % 51, Tile Roofing, Replace Underlayment Sq.Ft % 1,601,770

17 Component Inventory Detail Report THE VINEYARDS AT DUBLIN GREENE OWNERS ASSOCIATION Report Date: 10/3/2018 Dublin, CA Fiscal Year End: 12/31/2018 See General Information for Definitions R.L. U.L. Def. Quantity Unit Cost PM&A Anticipated Total Cost MECHANICAL/ELECTRICAL SYSTEMS Exterior Lighting 28 Exterior Address Light Each % 15, Exterior Bollard Light, Newer Each % 6, Exterior Bollard Light, Original Each % 57, Exterior Entry Lights Each % 17, Exterior Garage Light, Standard Each % 31, Exterior Lights, Balcony Each % 8, Exterior Pole Light Poles Each % 9, Exterior Pole Lights Each % 3,153 Fire & Alarm Systems 36 Fire Sprinkler System Repair/Modernize Each 1, % 223, Fire Standpipe System, 5-Yr Certification* Each % 12, Minor Repair Fund Each % 11,340 Plumbing 39 Drinking Fountain Each 1, % 1, Hot Water Heater, 40 gal., Economy Each 1, % 1, Sewage Utility Lines, Repair Fund Fund 150, % 157, Water Piping Replacement, Common Each 3, % 558,600

18 Component Inventory Detail Report THE VINEYARDS AT DUBLIN GREENE OWNERS ASSOCIATION Report Date: 10/3/2018 Dublin, CA Fiscal Year End: 12/31/2018 See General Information for Definitions R.L. U.L. Def. Quantity Unit Cost PM&A Anticipated Total Cost Pool & Spa Mech & Elec Systems 43 Pool, Chlorinator Each % Pool Equipment Controller Each % Pool Filter Each 2, % 2, Pool Heater Each 4, % 4, Pool Pump Each 1, % 1, Spa, Chlorinator Each % Spa, Filter Each 2, % 2, Spa, Heater Each 3, % 4, Spa, Pumps Each 1, % 3,512 SITE SYSTEMS Exterior Furnishings 52 Park Bench Each % 6, Pool Furniture Fund 2, % 2,100 Fencing 54 Metal Fencing, Pool Ln.Ft % 20, Metal Fencing, Pool, Paint Ln.Ft % 1, Metal Patio Gate - 3' Each % 28, Metal Pedestrian Security Gate, Pool Each % Metal Pedestrian Security Gate, Sidewalk Access Each % 7, Metal Pedestrian Security Gate, Sidewalk Access - Auto Closers - None None None None 5.00% 0 OPERATING (As Needed) 60 Metal Vehicle Security Gate Each 1, % 3,490 Fire Access from Dublin Blvd. 61 Wood Fence w/ Pressure Treated Posts Ln.Ft % 18,244

19 Component Inventory Detail Report THE VINEYARDS AT DUBLIN GREENE OWNERS ASSOCIATION Report Date: 10/3/2018 Dublin, CA Fiscal Year End: 12/31/2018 See General Information for Definitions R.L. U.L. Def. Quantity Unit Cost PM&A Anticipated Total Cost Landscape 62 Backflow Valve Repair/Replacement Fund Fund 3, % 3, CMU Block Retaining Wall, Paint Sq.Ft % 7, CMU Block Retaining Wall, Repair Sq.Ft % 49, Irrigation Controller Enclosures Each 1, % 9, Irrigation Controllers Each 1, % 9, Landscape Improvement Fund - Irrigation & General Landscape Fund 50, % 52,500 Upggrades 68 Landscape, Reclaimed Water Project Fund 53, % 56,070 Legacy item from previous report. 69 Plants & Refurbishment Each % 11, Tree Maintenance Fund 12, % 13,440 Misc. Site Systems 71 Monument Sign Each 1, % 3, Signage, Misc Fund 1, % 1,312 Pavement 73 Asphalt Pavement, Crack Fill, Seal Coat, Stripe Sq.Ft % 17, Asphalt Pavement, Major Replacement Sq.Ft % 388, Asphalt Pavement, Minor Repair-20% Sq.Ft % 83, Concrete Pavement, Repair Fund Fund 2, % 2, Concrete, Swimming Pool & Spa Deck, Repair 5% Sq.Ft % 4,541

20 Component Inventory Detail Report THE VINEYARDS AT DUBLIN GREENE OWNERS ASSOCIATION Report Date: 10/3/2018 Dublin, CA Fiscal Year End: 12/31/2018 See General Information for Definitions R.L. U.L. Def. Quantity Unit Cost PM&A Anticipated Total Cost Pool & Spa Site Systems 78 Coping Ln.Ft % 3, Mastic Ln.Ft % 1, Pool Plaster Sq.Ft.Surf % 19, Spa Plaster Sq.Ft.Surf % 2, Tile Ln.Ft % 2,817 Total 5,139,748

21 Assessment and Reserve Funding Disclosure Summary THE VINEYARDS AT DUBLIN GREENE OWNERS ASSOCIATION Report Date: 10/3/2018 Dublin, CA Fiscal Year End: 12/31/2018 Assessment and Reserve Funding Disclosure Summary For the Fiscal Year Ending December 31, 2019 (1) The current assessment per ownership interest is $ per month. Note: If assessments vary by the size or type of ownership interest, the assessment applicable to this ownership interest may be found on page of the attached summary. (2) Additional regular or special assessments that have already been scheduled to be imposed or charged, regardless of the purpose, if they have been approved by the board and/or members: Date assessment will be due: None Amount per ownership interest month: Purpose of the assessment: Note: If assessments vary by the size or type of ownership interest, the assessment applicable to this ownership interest may be found on page of the attached report. (3) Based upon the most recent reserve study and other information available to the board of directors, will currently projected reserve account balances be sufficient at the end of each year to meet the association's obligation for repair and/or replacement of major components during the next 30 years. Yes (4) If the answer to (3) is no, what additional assessments or other contributions to reserves would be necessary to ensure that sufficient reserve funds will be available each year during the next 30 years that have not yet been approved by the board or the members: Approximate date assessment will be due: Amount per ownership interest: (5) All major components are included in the reserve study and are included in its calculations. (6) Based on the method of calculation in paragraph (4) of subdivision (b) of Section 5570, the estimated amount required in the reserve fund at the end of the current fiscal year is $2,725,318.47, based in whole or in part on the last reserve update prepared by SMA Reserves as of October 3, The projected reserve fund cash balance at the end of the current fiscal year is $920,981.62, resulting in reserves being 34% funded at this date. (7) Based on the method of calculation in paragraph (4) of subdivision (b) of Section 5570 of the Civil Code, the estimated amount required in the reserve fund at the end of each of the next five budget years is (below), and the projected reserve fund cash balance in each of those years, taking into account only assessments already approved and other known revenues, is (below), leaving the reserve at (below) percent funded. If the reserve funding proved by the association is implemented, the projected reserve fund cash balance in each of those years will be (below), leaving the reserve at (below) percent funded. FY Ending Fully Funded Balance Projected Reserve Fund Balance Percent Funded ,059,877 1,096,285 36% ,674, ,213 22% ,010, ,091 27% ,328,400 1,028,777 31% ,716,126 1,356,067 36% Note: The financial representations set forth in this summary are based on the best estimates of the preparer at that time. The estimates are subject to change. At the time this summary was prepared, the assumed long-term before-tax interest rate earned on reserve funds was 1.00% per year, and the assumed long-term inflation rate to be applied to major component repair and replacement costs was 3.00% per year.

22 INSURANCE DISCLOSURE STATEMENT For The Vineyards at Dublin Greene New California Statute, Section 5300 (a)b) of the Civil Code, requires that the association disclose to its owners certain information regarding the insurance policies carried by the association. This form meets the requirements of the code. All Insurance Request and certificates contact: Solomon and Solomon Insurance Brokers Ridge Route Dr. #135 Laguna Hills, CA Certificate Request Stephanie Fader Customer Service Mary Lou Broker Bree Kelly Don Davis CLU, CRIS, CIRMS Property Insurance: Insurance Company Travelers Insurance Package Policy Number: 009D Policy Limits: $ 46,298,298 Deductible: $5,000 Package Policy Period: 03/01/ /01/2019 General Liability Insurance: Insurance Company: Travelers Insurance Policy Number: 009D Policy Limits: $1,000,000-2,000,000 Deductible: $ 0 Package Policy Period: 03/01/ /01/2019 Directors & Officers Liability: Insurance Company: USLI Policy Number: NPP Policy Limits: $1,000,000 Deductible: $ 5,000 Package Policy Period: 03/01/ /01/2019 Employee Dishonesty: Insurance Company: Great American Policy Number: SSA Policy Limits: $700,000 Deductible: $5,000 Package Policy Period: 03/01/ /01/2019

23 Umbrella Liability Insurance: Insurance Company: Greenwich Insurance Policy Number: PPP Policy Limits: $10,000,000 ` Retention $0 Policy Period: 03/01/ /01/2019 Earthquake Insurance: Insurance Company: Policy Number: Policy Limits: Deductible: Flood Insurance: Insurance Company: Policy Number: Policy Limits: Deductible: Coverage Declined Coverage Declined Workers Compensation Insurance: Insurance Company: PMA Companies Policy Number; Policy Limits: 1,000,000 Policy Period 03/01/ /01/2019 This summary of the association s policies of insurance provides only certain information, as required by subdivision (b)(9) of Section 5300 of the Civil Code, and should not be considered a substitute for the member may, upon request and provision of reasonable notice, review the association s insurance policies and, upon request and payment of reasonable duplication charges, obtain copies of these policies. Although the association maintains the policies of insurance specified in this summary, the association s policy may not cover your property, including personal property, or real property improvements to or around your dwelling, or personal injuries that occur within or around your dwelling. Even if a loss is covered, you may nevertheless be responsible for paying all or a portion of any deductible that applies. Association members should consult with their individual insurance broker or agent for appropriate additional coverage. Date of summary: 02/27/2018

24 DISCLOSURE PURSUANT TO CALIFORNIA CIVIL CODE SECTION 5730(a) NOTICE ASSESSMENTS AND FORECLOSURE This notice outlines some of the rights and responsibilities of owners of property in common interest developments and the associations that manage them. Please refer to the sections of the Civil Code indicated for further information. A portion of the information in this notice applies only to liens recorded on or after January 1, You may wish to consult a lawyer if you dispute an assessment. ASSESSMENTS AND FORECLOSURE Assessments become delinquent 15 days after they are due, unless the governing documents provide for a longer time. The failure to pay association assessments may result in the loss of an owner's property through foreclosure. Foreclosure may occur either as a result of a court action, known as judicial foreclosure, or without court action, often referred to as nonjudicial foreclosure. For liens recorded on and after January 1, 2006, an association may not use judicial or nonjudicial foreclosure to enforce that lien if the amount of the delinquent assessments or dues, exclusive of any accelerated assessments, late charges, fees, attorney's fees, interest, and costs of collection, is less than one thousand eight hundred dollars ($1,800). For delinquent assessments or dues in excess of one thousand eight hundred dollars ($1,800) or more than 12 months delinquent, an association may use judicial or nonjudicial foreclosure subject to the conditions set forth in Article 3 (commencing with Section 5700) of Chapter 8 of Part 5 of Division 4 of the Civil Code. When using judicial or nonjudicial foreclosure, the association records a lien on the owner's property. The owner's property may be sold to satisfy the lien if the amounts secured by the lien are not paid. (Sections 5700 through 5720 of the Civil Code, inclusive) In a judicial or nonjudicial foreclosure, the association may recover assessments, reasonable costs of collection, reasonable attorney's fees, late charges, and interest. The association may not use nonjudicial foreclosure to collect fines or penalties, except for costs to repair common area damaged by a member or a member's guests, if the governing documents provide for this. (Section 5725 of the Civil Code) The association must comply with the requirements of Article 2 (commencing with Section 5650) of Chapter 8 of Part 5 of Division 4 of the Civil Code when collecting delinquent assessments. If the association fails to follow these requirements, it may not record a lien on the owner's property until it has satisfied those requirements. Any additional costs that result from satisfying the requirements are the responsibility of the association. (Section 5675 of the Civil Code) At least 30 days prior to recording a lien on an owner's separate interest, the association must provide the owner of record with certain documents by certified mail, including a description of its collection and lien enforcement procedures and the method of calculating the amount. It must also provide an itemized statement of the charges

25 owed by the owner. An owner has a right to review the association's records to verify the debt. (Section 5660 of the Civil Code) If a lien is recorded against an owner's property in error, the person who recorded the lien is required to record a lien release within 21 days, and to provide an owner certain documents in this regard. (Section 5685 of the Civil Code) The collection practices of the association may be governed by state and federal laws regarding fair debt collection. Penalties can be imposed for debt collection practices that violate these laws. PAYMENTS When an owner makes a payment, the owner may request a receipt, and the association is required to provide it. On the receipt, the association must indicate the date of payment and the person who received it. The association must inform owners of a mailing address for overnight payments. (Section 5655 of the Civil Code) An owner may, but is not obligated to, pay under protest any disputed charge or sum levied by the association, including, but not limited to, an assessment, fine, penalty, late fee, collection cost, or monetary penalty imposed as a disciplinary measure, and by so doing, specifically reserve the right to contest the disputed charge or sum in court or otherwise. An owner may dispute an assessment debt by submitting a written request for dispute resolution to the association as set forth in Article 2 (commencing with Section 5900) of Chapter 10 of Part 5 of Division 4 of the Civil Code. In addition, an association may not initiate a foreclosure without participating in alternative dispute resolution with a neutral third party as set forth in Article 3 (commencing with Section 5925) of Chapter 10 of Part 5 of Division 4 of the Civil Code, if so requested by the owner. Binding arbitration shall not be available if the association intends to initiate a judicial foreclosure. An owner is not liable for charges, interest, and costs of collection, if it is established that the assessment was paid properly on time. (Section 5685 of the Civil Code) MEETINGS AND PAYMENT PLANS An owner of a separate interest that is not a time-share interest may request the association to consider a payment plan to satisfy a delinquent assessment. The association must inform owners of the standards for payment plans, if any exists. (Section 5665 of the Civil Code) The board must meet with an owner who makes a proper written request for a meeting to discuss a payment plan when the owner has received a notice of a delinquent assessment. These payment plans must conform with the payment plan standards of the association, if they exist. (Section 5665 of the Civil Code)"

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