Letter To Owners

December 7, 2022

Dear Waters Edge Homeowners,

As we end 2022, we hope you each have had a wonderful year and have enjoyed your home and surroundings here at Waters Edge (WE). Your Board has continued to work on making our village the best in Eagle Pointe through capital improvements (such as finishing the gutter guards project, resurfacing the rec area courts, making substantial headway on the front deck replacement project, and continuing landscape refurbishment) while also maintaining general operations.

As we move into 2023 and beyond, we now tackle another big project that possibly comes around only once or twice in our lives as homeowners. Our 10-year plan, as thorough and well-thought out as it is, falls short of today’s costs as the current siding/painting life-cycle ends.

Over the past year, the HOA Board has been exploring replacement of the siding on our buildings with Hardie Board concrete siding, installed by UHQ. We have 22 buildings with 285,000 square feet of surface to be covered with siding.

In addition to the members of the Board, a three-person Siding Committee consisting of President John Teising and WE homeowners Jim Hammond and John Schroeder, has given countless hours to investigate the many details involved. They and the Board have considered many options, including painting all the cedar siding we have, replacing it with Hardie Board or a cheaper alternative – and whether to finance the project with dues increases, a special assessment, a bank loan, or some combination of all three.

The Siding Committee recommends that we:

· Do not replace all the siding with Hardie Board at this time, as the cost would exceed $2.5 million. Instead, replace only those sides that have no useful life left and which bear the brunt of that hot Western sun. Use UHQ for this work. (Both the PSA and other HOAs have used UHQ and been very happy with their service. We have used UHQ to replace some of the worst siding on the Western walls of several buildings and have been similarly satisfied.)

· Extend the usable life of our current siding on most buildings by 7 to 10 years by painting it, and selectively replacing or repairing the worst boards. (The siding will be power-washed before painting.)

· Finish the painting aspects of the project in 4 years – by the end of 2026.

This recommendation will allow several years in which the HOA can focus capital spending on road repairs while saving to replace all of the siding at the end of its useful life with whatever a future Board decides at that time.

The Board has accepted and approved the recommendation of the Siding Committee.

That raises the second key question of how to pay for this project. The total cost of the Siding Project is estimated to be $765,000, and perhaps more with inflation. With our current dues, we have approximately $165,000 available for capital improvements each year – including roofs, siding, gutters, decks, subsidence, roads, pool and recreation area, and landscaping. While we intend to devote the bulk of these funds to the Siding Project, that still leaves a shortfall.

With all of this in mind we need to either increase dues significantly every year over the next four years or pass a special assessment. The Board has authority to increase dues up to 20% each year without approval of the homeowners. A special assessment requires approval of two-thirds of the ownership.

The Board has decided to increase dues 10% for 2023 – and to discuss at the annual meeting whether we collectively would prefer to pay for the Siding Project with three more years of similarly sized dues increases or with a special assessment (to keep dues lower over the long term).

Some may object that painting the siding now instead of replacing all of it is just kicking the can down the road. We believe, instead, that this will provide the Board with time to sort out whether a special assessment is the right path – and to conduct a vote if needed, to get the most out of our existing siding, and to begin saving funds for the much more costly project of ultimately replacing all the siding. It also gives us a year or two to catch up on repairing the concrete in our roads where most needed.

Each of us on the Board would be happy to discuss this with you and answer any questions. And of course, we look forward to discussion at our annual meeting, scheduled for March 25, 2023.

Sincerely,

The Waters Edge Board

John Teising, President

Vince Sommers, Vice President

Peter Samuelson, Treasurer

Donna Panich, Secretary

David Gray, Member At Large

Melissa Emily, Associate Member

Jim Fox, Associate Member

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Rec Area Update

March 2, 2023
Waters Edge Homeowners, We noticed there is a problem with the recreational area surface we worked on in the fall of last year. The contractor and board decided to close the area until we can fix the problem, as it poses a liability. All of your entrance cards have been disabled to the turnstile until further notice. Everyone involved is sorry for this inconvenience and hope you understand. If the courts are not repaired before opening weekend for the pool, we will reactivate access to the turnstile so that you all can use the pool, but we will block off the courts. The matted areas which are delaminating and not bonding to the existing surface will be replaced, all the cracks will be gone over with another layer of matting and the surface will then be repainted and the courts striped. This work is weather related and we certainly expect it to be completed in early spring. Thanks in advance for your understanding. John Teising President WE1

Annual HOA Meeting 2023

February 7, 2023
Water’s Edge Homeowner Association Annual Meeting The Golf Club at Eagle Pointe, The Nest Saturday March 25, 2023 Registration: 1:00 p.m. to 1:30 p.m. Refreshments provided Meeting: 1:30 p.m. to 3:30 p.m. AGENDA: 1. Introductions 2. 2022 Annual Meeting Minutes 3. Seeking members to serve on WE HOA Board of Directors Voting on two new members. Melissa Emily and Jim Fox Two members stepping down John Teising and Vince Sommers 4. President’s Report – Property Management, Long Term Outlook, Buildings siding and painting (consensus on a rate increase vs special assessment). 5. Treasurer’s Report – 2022 Year End Financials, 2023 Budget 6. Other Discussion, Questions or Comments

Update On Gates 1/27/23

January 27, 2023
Eagle Pointe Residents, The new Eagle Pointe Security system is finally ready to go. The system will be operational in mid-February. We will give you a precise date shortly. Several items have extraordinarily delayed the anticipated launch. New directional way finding signage will be installed to direct residents and visitors from the main access streets to appropriate gates. The vendor took two extra months to complete plans for the scope of work. Way finding signage should be installed in approximately two weeks. Another delay concerned the overwhelming demand from residents for vehicle RFID hangtags. We needed to order 400 additional hangtags. 200 hangtags have been received by the local vendor and the remaining 200 are still in process, but will not delay the launch any further. We are also enhancing the security system to function reliably in the event of power failure, ensuring community access. This final touch will also be completed in less than two weeks The new helpdesk at eaglepointe.gate.help@gmail.com received several hundred emails for assistance with logging in to the Cellgate app, making changes to residential data, or requesting additional RFID stickers or hangtags. Please understand RFID stickers and hangtags are for residential access to Eagle Pointe. Residents will be able to use either the Cellgate app, a cell phone or landline phone to let visitors or vendors into Eagle Pointe as they arrive at the WXL entry kiosks located just before the five different gates at Eagle Pointe. There has been some concern about where the RFID stickers should be located. It is best to locate the stickers on the upper left inside of the driver side windshield. If you want to check the operation of your sticker or hang tag, as you drive up to a gate, look at the RFID reader (the gray box located, approximately 6 feet off the ground on the left drivers side just before the gate), an indicator light on the reader will flash and an audible alert can be heard indicating your sticker or hang tag has been successfully read. We appreciate your patience and understanding as we transition to the new Eagle Pointe Security system. We also thank all the volunteers for their hours spent helping develop the new security system. The Eagle Pointe Security Team

Update-PMI Meridian Management Co

January 4, 2023
Waters Edge Homeowners, I wanted to send an email to address all of the questions I have been receiving over the past couple of days via email and voicemail. I know that a lot of you have yet to receive your 1st quarter billing statement. I can assure you that they were mailed out just before Christmas, however the holidays have delayed mail delivery. Please know that they are on their way to you. I cannot say when you might receive them, but they are en route to your mailing address. Your Q1 statements will reflect your updated dues amount. There was a 10% dues increase effective January 1st, 2021. Please be patient with your Cinc registrations. PMI Meridian's website is experiencing some technical difficulties, preventing you all from registering. Once this is fixed and you all are able to register, I will send out an email update. Again, I'd like to assure you all that you have 30 days to register online/pay for your Q1 dues. If you'd like to mail a payment in the meantime, please send to: Waters Edge, PO Box 1217, Arlington Heights, IL 60006-1217. You can also come into our office and drop off your payment. We are located at 2593 W Fountain Dr Suite #3 Bloomington, IN. If our office is closed, you may slide your payments under our door. Lastly, please pay your PSA dues for Q1 the same way you always have. Your Appfolio portals for PSA are still active and we will be accepting payments through that platform for Q1. The PSA's mailing address is unchanged: PO Box 1878 Bloomington, IN 47402. The way you pay your PSA dues will likely change by Q2, but for now, those methods of payment are the same. Thank you all for your patience and kindness with this transition. Due to the volume of phone calls and emails I am receiving at the moment with the above frequently asked questions, I may be unable to provide the individual and speedy responses that you are used to right at the moment. I apologize for the frustration and inconvenience. Best, Alyssa Todd (812) 336-2026

Updates from PSA on Gates

December 31, 2022
Gate Update-Part 1 & 2

2022 HOA Annual Meeting

February 23, 2022
The Eagle's Nest at The Pointe Saturday March 26th, 2022 Registration: 8:30a.m. to 9:00 a.m. Meeting: 9:00 a.m. to 11:00 a.m. Sahm's Coffee Cake, Seasonal Fruit, Coffee and Bottled Water provided, come early and get to know your neighbors! AGENDA: 1. Introductions 2. 2021 Annual Meeting Minutes 3. Seeking members to serve on WE HOA Board of Managers 4. President’s Report – Property Management, Long Term Outlook, James Hardie Board presentation. 5. Treasurer’s Report – 2021 Year End Financials, 2022 Budget 6. Other Discussions, Questions or Comments 7. Adjourn  Board Member - If you are interested in becoming a Board Member, please go to the website at www.watersedgelakemonroe.com, and under E-mail Board/Ask the Board, send a message that you are interested in serving on the HOA Board. Someone will contact you. There will be no paper copies of the financial information at the Annual Meeting, as all documents will be emailed. Masks requirements subject to Monroe County mandate. We look forward to seeing you there. John Teising President, Water’s Edge HOA Board of Directors

New PSA President

By John Teising-WE President • January 17, 2022
Good Day Eagle Pointe, Yesterday your Board of Directors held a meeting that included the election of a new PSA President. I was declared the winner in a vote count of 12 to 6. The weight of that responsibility is already being felt, however, we must first acknowledge the good works of Betsy Larson and her team. Betsy passionately devoted her time and energy to the betterment of Eagle Pointe. Many do not know the stewardship she assumed. Gail Miller has also retired from the Treasurer’s post. Her contributions are abundant and her knowledge vast. These fine people deserve our gratitude and respect. You can only imagine how much time was given on behalf of our community by them both. The board also unanimously voted for our new Treasurer, Melissa Emily. She is receiving tutoring lessons on that job from Gail Miller this very day. Melissa has already devoted time and energy to our community for some years now in a variety of roles. We are also rounding out our team, filled with people with decades of community experience, and one person who has been here from the inception of Eagle Pointe. You will recognize your neighbors. Most of the leadership team worked together on the Strategic Planning Committee. We have a Vice President’s vacancy to fill. A vacancy exists on the PSA nominating committee. We also need to establish a marketing person’s role (and team) that is a new function to promote our business operations and guide the future vision of what more we can be. One person stepped up today on the marketing side of things before this note was drafted. We do have a wonderful spirit. Our community has many needs. We don’t have an infinite budget so we must be wise about how we move forward. We commit to seeking your thoughts, establishing priorities, and sharing information monthly on our progress, including financial results. However, we first need a secure website for our people only. We also need a bigger team, it needs to be organized, and clear missions established. Our initial priorities are listed below :•Transition leadership teams •Fully understand our current financial position •Complete team organization and deploy on steps toward the oversight of our businesses (Golf and F&B), campus, and community. Initial meetings with Golf and F&B are happening this week .•Finalize security solutions, tell you the options, what they cost, and collectively make the best decision. Most importantly, this is a team process. We work together across the entire community to establish priorities, step forward to help, and collectively share in the work and satisfaction of a job well done. Our needs as individuals are subordinate to what is best for us all .I am personally looking forward to learning every day, working with everyone, and focused on Eagle Pointe. You will hear more as we step forward. Please join with your neighbors. Our future is what we achieve together. Let’s get to work. God bless you and our wonderful Eagle Pointe home. Milan

Sad News

By John Teising-President • January 13, 2022
Good morning, Water’s Edge friends and neighbors. It is with a heavy heart that I relay this sad news. Earlier this morning, Brian Earley passed away peacefully with his family at his side. Brian was committed to the improvement of our community and made the lives of those around him better just because he was present. He was a sounding board for me and had the most positive attitude of anyone I have ever known. To know Brian was to love him, and we will miss him. Please keep Mary and the rest of his family in your prayers. John Teising President

Neighborhood Appreciation Day

September 29, 2021
Water’s Edge residents are invited to gather for a neighborhood get-together at the Overlook shelter on October 9 th . BTS Contracting, who has completed several projects at Water’s Edge, will provide the main dish of brisket to say thanks for being so supportive of their team when they are working in Water’s Edge.  Date: Saturday, October 9 th Time: 11-2 with lunch served at noon Place: Monroe Lake Dam Overlook-1620 East Monroe Dam Court (same parking lot as the Army Corp of Engineers office.) The turn will be on the right before you cross the dam and immediately after the turn for the Tailwater Run neighborhood. There is a sign that says “Monroe Lake US Army Corps of Engineers, Louisville District at the turn. What to bring: lawn chairs, beverage of your choice, and a dish to share (dessert, appetizer or side.) Paper plates, napkins, utensils and water will be provided. TO RSVP: respond with name, number attending and your unit # by Sunday 10/3 via one of the following: 1. E-mailing to jteising54@hotmail.com 2. Texting or calling 812-887-1262 **We have some very immunocompromised residents. Please be thoughtful and bring a mask to wear when you are socializing at close distance with them. We value our neighbors and want to keep them as safe and healthy as possible as they undergo ongoing medical treatments.

2021 Pool Deck and Recreational Cleaning Position

March 11, 2021
Waters Edge I at Eagle Pointe is seeking a person or persons to clean and manage the pool deck and recreational area during the Summer months, approximately the last week of May through mid-September. Person must be dependable, have transportation, be located near the property to check on it twice daily, including weekends. This is a paid position, person will be an independent contractor of the Waters Edge HOA. If interested please contact presidentwehoa@gmail.com . Steve Moffett President WE HOA.
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