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Sent ~y: ENGEO INC.; 925 838 7425; Nov-20-98 1:44PM; Page 415 <br /> <br /> EXHIBIT A <br /> Budget ~r MerrITenance and Repair <br /> Laurel Cree~ EalMNS <br /> Plemnton, <br /> <br /> YEAR 2009 .~010 2011 2012 2013 <br /> <br /> No. of Units 102 102 102 102 102 <br /> <br /> A. iNCOME <br /> <br /> Assessment 35,641 36.710 37,811 38,948 40,114 <br /> <br /> B. PROJECTED EXPENSES <br /> 1 Administration an0 Accounting 1.344 1,384 1,426 1,469 1,S13 <br /> 2. Outsads Consultants 4,032 4, 153 4.277 4.406 4,538 <br /> ~ Maintenance 4.032 4.153 4,277 4.406 4,538 <br /> /- Slope StaCfi~zation 13,439 13,842 14.258 14,585 15,126 <br /> 5. Erosion P'otection 2,~88 2.768 2.852 2.937 3,025 <br /> 6. Repair' <br /> SUBTOTAL - EXPENSES 25,534 25.300 27.089 27.902 28,739 <br /> RESERVEfHQMEOWNERS' CONTRIBUTION** 10,106 10,409 10,722 11,043 11.375 <br /> =.ARNINGS 3,950 4,67S 5,218 5,881 6,583 <br /> CUMULATIVE RESERVE 149.148 164,132 180,072 196.996 214,934 <br /> <br /> · Based on a large-scale repair of ' $ 100.000 <br /> every 10 years ~n 1997 dollars <br /> <br /> ASSUMPTIONS <br /> Total No. o1 Units 100 <br /> initial Annual Assessment per Unit $260 <br /> Annual Increase in Assessment 3.0% <br /> Inflation 3.0% <br /> investment Earnrags 6.0% <br /> Expenses (in 1997 dollars): <br /> 1. Administration and Accounting 1000 <br /> 2. Outside Consultants 3,000 <br /> 3. Maintenance 3,000 <br /> 4. Slope Stabilization 10,0O0 <br /> 5. Erosion Protection 2.000 <br /> "Each Homsowner's Contributon $100.000 <br /> of $1.000 at Close of Eskrow <br /> <br /> <br />