Whispering Words. WW II - Fall WW I & II Renovation Updates. Whispering Woods II Operating Budget Approved for 2010 IN THIS ISSUE

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1 Whispering Words WW II - Fall 2009 Whispering Woods Resort Managed by Vacation Resorts International WW I & II Renovation Updates With 2009 nearly behind us, here is an update on what was accomplished inside and outside the Whispering Woods I and II units: IN THIS ISSUE WW I & II Renovation... 1 Whispering Woods II Operating Budget... 1 Maintenance Fee Payments Online... 2 The Resort at the Mountain Golf Course.. 2 Reservations Reminder... 2 Bits and Pieces!... 2 VRI*ety Exchange... 3 RCI News... 3 Fall/Winter Hours... 4 Whispering Woods I - Our interior renovation focus in 2009 was to complete the updates in all six Augusta units ( ). As of this writing we have installed granite counter tops in the kitchens and bathrooms and replaced vinyl bathroom and kitchen floors as well as the carpeted entry with tile. We also removed old wall paper and repainted those areas. Later this year we will be installing new wood furniture similar to what has been installed in other Whispering Woods I units, and updating artwork. Exterior work this year included new paint for the Pebble Beach units ( ). Whispering Woods II - All of the interior work detailed in the summer edition of this newsletter was completed by June this year. Completed projects include new carpet, tile floors and furniture in Buildings A and B, new tile floors in the Building C and D bathrooms, new mattress sets in Buildings A, B and C, new LCD TVs in all WW II units and new granite counter tops in all WW II units. Exterior work included complete paint jobs for Buildings A and B, as well as new paint for the metal railings on Buildings C and D. Renovation costs for WW I and II were all approved by the respective Boards of Directors and were paid from established reserve accounts. Whispering Woods II Operating Budget Approved for 2010 At their September 18, 2009, Regular Board meeting, the WW II Board approved the Association s 2010 operating budget. WW II maintenance fees will remain unchanged. If you only paid half of this year s Special Assessment, it will be billed for Billing statements will be mailed in early November with payments due upon receipt. Bills become delinquent as of January 1, Copies of the 2010 budget as well as the Assessment, Billing and Collection Policy will be included with your bill.

2 A WW II Reservation Request Card was mailed to every WW II Owner in mid-september. Please remember to submit this card to reserve your 2011 use week. The 2011 reservation period ends November 30, (Note: RCI Points members do not need to make reservations as they will be made automatically). If you need another Reservation Request Card, you may download one from our website at Click on the Owners Only menu item. User Name is whisper and Password is You may also call the Whispering Woods Reservations Department at The Resort at the Mountain Golf Course is Private Property The Resort at the Mountain recently installed new signs clarifying that the golf course and cart paths are private property. Please be aware that the golf course and cart paths are for the exclusive use of paid golfers. Whispering Woods owners and guests can enjoy the beautiful view from their back porch or deck, but must stay off of the golf course and golf cart paths if they have not paid to play golf. This includes walking from one side of the Whispering Woods property to the other. We ask that you do not cross the golf course. Please make sure your family members and guests are aware of and respect this policy. Thank you very much! Whispering Woods II Reservations Reminder (for non-points owners) Bits and Pieces! Replacement Report Summary Enclosed Enclosed with this newsletter is the Replacement Report Summary for your particular Association. This report summarize the current standing of the reserve funding for your Association. If you have questions or comments on these reports, please contact the Resort Manager. Maintenance Fees Can Be Paid Online As a reminder, you can pay your 2010 maintenance fees online. To use this feature, visit and click on For Owners Only in the navigation menu. Then: 1. Click on Online Payments under the For Owners Only heading. 2. Select your resort from the drop-down list. 3. Enter your last name as it appears on your maintenance fee statement. 4. Enter your account number as it appears on your statement. If you have more than one account, they must be paid one at a time. Your account number will include three characters followed by a dash and then two numbers. An example would be: AA Click the Send button and provide your credit card payment information on the secure payment page. If you have questions or need help, please contact VRI s Member Services Department at Thank you! Scheduled Board Meetings for Whispering Woods II Friday, December 4, 2009, at 10:00 a.m. at WW Friday, April 2, 2010, at 1:00 p.m. at WW Meeting dates, times and places are subject to change 2

3 Welcome to an exciting world of choices the VRI*ety exchange program Exclusive to VRI owners, the VRI*ety exchange program offers a wide spectrum of exchange opportunities, benefits and flexibility. Exchange your week to any resort in the VRI family or to 100s of additional resorts your choice! Other exciting benefits include: No annual membership fee Low exchange fees 3- and 4-night split week vacations (at participating resorts) Unit upgrades Cruise exchange Online exchange option Personalized customer service Travel protection plan option VRI*ety Reservation Guides are available Mon. Fri. 7:00am to 6:00pm PST and Sat. 8:30am to 4:00pm to help you plan your next vacation exchange. Call VRI*ety toll-free at or info@vrietyexchange.com For resort listings, more information or to exchange online, visit: RCI - News You Can Use If you are not currently an RCI member, RCI wants you back and is offering a 35% discount. To celebrate their 35th Anniversary, RCI is offering a 1-year RCI subscription, PLUS a domestic or international exchange for just $164, a savings of $89 (the regular cost of a one-year RCI membership). RCI also wants to remind you of all an RCI Subscribing Membership offers you, including: - Exchange Vacations: Regular RCI exchanges - Last Call SM Vacations: Discounted, last-minute weeklong vacations at RCI Weeks resorts. Prices are fixed and only available online. - Endless Vacation Magazine: RCI s full-color travel magazine. - Extra Vacations SM Getaways: Additional vacations without using a deposited week, including accommodations for a full week s vacation, a long weekend and last minute opportunities. - RCI Cruise Vacations - RCI Vacation Guides: A well-trained service professional to help coach you through the vacation planning process. An RCI membership also gives you access to RCI s newly redesigned website at RCI.com. The new RCI.com allows you to search all availability at once, features Google maps, and includes a growing number of virtual tours and resort photos to help with your vacation decisions. As a reminder, this offer is available to owners who are not currently RCI members and expires 12/31/09. 3

4 Service Directory Resort Office - Information, Reservations, Bonus Time FAX Rentals - Whispering Woods or Vacation Resorts International RCI Weeks RCI Points VRI Vacation Tyme VRI*ety Exchange Service Owner Services - Assessment Billing/Collections (maintenance fees) Advanced Financial Company (mortgage information) Local Information - Visitor Info Road Report Highway Patrol (Emergency) Board Members Whispering Woods I - Don Foreman, Chairman Cheryl Scarcelli, Vice Chairman Gloria Wells, Secretary Rick Sandell, Treasurer Al Harrison, Director Whispering Woods II - Ron Quick, President Darrel Purkerson, Secretary Fred Woodside, Treasurer Pat Buckley, Director Richard Cassara, Director Joint Use Committee - Al Harrison, Chairman Rick Sandell Darrel Purkerson Pat Buckley Pat Easterbrooks Fall/Winter Hours On September 18, 2009, Clubhouse and Front Desk hours returned to 8 a.m. to 8 p.m. daily. The swimming pool and spa will close 15 minutes before the Clubhouse closes, allowing staff time to shut things down for the night. Please leave all pool towels in the towel bin located in the men s and women s restrooms. Locks are available at the Front Desk for the restroom lockers. Whispering E. Nicklaus Way P.O. Box 435 Welches, OR Words Web: info@whisperingwoods.net 4

5 Whispering Woods II Owners Association Replacement Report Summary Study Conducted By: Hughes Reserves Based on 2010 Study Summary Prepared: September 2009 It is the policy of your Board of Directors to set aside funds each year for the future replacement of major items that are a part of the project and that will wear out during the useful life of the facility. These funds are referred to as "replacements" and are also known as "reserves". Major items include all tangible property that will be replaced during the project's estimated useful life. Therefore replacements do not provide for tearing down and rebuilding structures, but do provide, for example, for recovering their roofs as many times as may be necessary while the building lasts. Funds to be set aside each year are included in each owner's annual assessment. Therefore, your full and prompt payment of assessments each year will help to insure the future condition and value of your property. Each year, the Board must determine the amount of the replacements to be assessed for the following year. In order to make this estimate, a detailed analysis of the resort's assets was made, then, utilizing an advanced replacement report computer program, a report was prepared based on the findings. The report lists each item determined to be subject to replacement, including an estimate of its remaining life and estimated replacement cost (both current and on the anticipated replacement date). Then using a formula which is based on these figures and includes estimates of inflation, annual percentage change in assessments, earnings on invested funds minus taxes on the earnings, and a contingency factor, the following two calculations are made: 1. The amount of funds which should presently be in the replacement fund, and 2. The amount which should be added to the replacement fund annually based on the facts and assumptions at the time the calculation was made. The following report summarizes only its conclusions, and does so in a very condensed format. The actual report is quite lengthy and technical. Major Component Summary: Estimated Estimated Estimated Recommended Recommended Description Remaining Replacement Ideal Ending Current Year Life in Years Cost Replacement Ideal Funding Fund Balance Buildings, Equipment, Furniture & Fixtures 0-30 $ 1,647,503 $ 1,303,280 $ 190,344 Clubhouse , ,470 32,250 Total $ 1,979,501 $ 1,550,750 $ 222,594 Source of Current Year Replacement Funding: Owners budgeted assessments of $246,120 net of estimated delinquencies and Association owned inventory. $ 222,594 Projected Ending Replacement Fund $ 740,000 Ideal Ending Replacement Fund $ 1,550,750 Percentage Funded 48% The full report is available for review at your Association office or you may obtain your own copy by sending a written request (please include your name and mailing address) to Vacation Resorts International, Avenida de la Carlota, Suite 400, Laguna Hills CA along with the check payable to VRI in the amount of $25.00 to cover the cost of reproduction and mailing. Please allow 3 weeks for delivery.

6 Clubhouse Day Use Policy * Clubhouse Day Use policy subject to change by the Joint Use Committee Owner must complete a Day Use Registration Form for Whispering Woods to keep on file. Maintenance dues must be current to be eligible for Day Use. The maximum number of guests allowed for day use is limited to the maximum occupancy of the owner s unit, i.e., if an owner owns a onebedroom unit that sleeps four (4), the maximum number of day users for that owner is four (4). However, if an owner calls in advance (must call during business hours M-F, 9am to 5pm) management may allow the owner s party to exceed the maximum occupancy of their unit, based on the guest load of the requested day. Registered owner listed on Day Use registration form must be present. Registered owner must show photo identification. Registered owner must sign-in at Clubhouse and follow existing Clubhouse policies. I agree to the above Clubhouse guidelines X

7 Whispering Woods Day Use Registration Owner s Full Name Address Telephone Number Type of Ownership