RIVERS RUNVILLA OWNERS ASSOCIATION, INC.

P.O. Box 4926, Oak Ridge, TN. 37831-4926

June 29. 201 0

Dear RRVOA Members:

Thank 1'ou fol a successful Annual Meeting on June 24th, 2010. This letter summarizes the financial decisions
that wele apploved by the members:

1) Fol the first tin-ie in several years, we have passed a reasonable annual budget. The total budget estirnate for,
r:outine operating expenses is $48,660. Using the approved allocation method that means monthly fees
beginning July 1,2010 will be:

Full Villa Lots: $116.00

Villa with no irrigation: $92.50
Improved Lots: $69.00
Unimproved Lots: $ 18.50

These fees are lor all members, except Mr. Tom Haruahan, as his fees are set by the Courl Order for a 3-year
period, and Mr. Seward Nonis, as his monthly operating fees are waived. in accordance with the August 2008
Agreement between the Association and Mr. Norris for a 6-year period.

2) Additionally, a Special Assessment was passed to retire debt that has been loaned to the association by
rnar.ryof the members. The total assessment is for $28,601 to be collected over 36 months. This results in a
tequit'ement for a Full Villa Lot to pay $12.00 per month for 36 months and the other lot categories to pay
$11,50 per month for 36 months. Because this money is required. to pay off debt, we are requesting that you
pay it in one lump surx, if able. The lump sum amount is $432 per Full Villa and $414 for all other lot
categories.

These 2010 fees are for all members except Mr. Tora Hanrahan, as his fees are being set by the Courl Order for'
a 3-yeal period.

Fot tl.rose members that have loaned money to the Association, Fred Ha1'r,vood will calculate your individual
situations and provide you with a statement of u'hat the Association owes you minus the Special Assessment.
As we collect past due lees and legal fees fi'on, the settlement, we should quickly have our finances back in
working older. Thank you for your patience as the Finance Committee works through these numbers. For your
recolds. rve have attached a final copy of the 20 1 0 budget as passed.

Ifyou have any questions or concerns about the amounts, please contact Fred Ha).r,vood.

President. RRVOA
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