Castle Pines North Association (the "Master Association")

Enclosed is a statement assessing your 2010 Master Association dues. If you're new to the community, your home is not only part of the HOA that provides your trash collection, maintains your common buildings, landscaping and recreation facilities (if you have these items) and provides your covenant enforcement, it is also part of the Master Association.

Q: What is the Master Association?

A: The Master Association was originally formed in 1984 for the purpose of acting as the HOA for the entire master-planned community of Castle Pines North. Over the last 25 years, many developers formed HOAs to govern their individual neighborhoods. These sub-HOAs to the Master form the network of 28 HOAs that now exist in the community. While most neighborhoods in the Master have their own sub-HOA, there are two neighborhoods whose only HOA is the Master.

Q: What service does the Master Association provide?

A: Prior to the incorporation of the City of Castle Pines North, the Master acted as the advocate for any issue that may have affected the community, as a whole. The Master also developed and continues to maintain the www.cpnhoa.orgwebsite.an e-mail distribution system used by many of the sub-HOAs and publishes a periodic newsletter, The Connection (not to be confused with The Castle Pines Connection, which is a privately-held publication distributed to the entire Castle Pines community and surrounding areas). The Master also participates in community social events for the benefit of all its residents.

Q: What do my assessments pay for?

A: In 2000, the Master Association together with the Castle Pines North Metro District, Douglas County Commissioners and the Castle Pines North Foundation organized and created the Castle Pines North Parks Authority, whose sole purpose was to build parks within the community. The Master's role in the Parks Authority is to act as its funding source and as such, has an ongoing contractual obligation to pay the Parks Authority 70% of all assessments it collects from residents. Pursuant to the Parks Authority Agreement, the Master Association is required to assess each residence a minimum of $100, annually.

Q: Why is there still a Master Association now that we have the City of Castle
Pines North?

A: Despite the fact that the City's physical boundaries were at one time nearly the same as the Master Association's, there is no direct correlation between the two entities. The mere existence of the City does not automatically make the Master Association disappear. As the City grows, the Master will continue to represent the interests of the homeowners who are its members. This will become increasingly more important as the City doubles in size through its recent annexations.

Q: Whatever happened to the money the Master paid toward the City's
incorporation?

A: After much hard work on the part of several Master Association Board members and Delegates, an agreement was recently negotiated with the City to reimburse the Master a total of $144,000 over the course of calendar year 2010.

Q: What's next: 2010 and beyond?

A: This question is certainly on the minds of many residents in the Master Association. So long as the Parks Authority exists with the current intergovernmental agreements in place, the Master Association is obligated to provide its funding. This means that the Master MUST continue to assess each residence a minimum of $100, annually. The time may have come, however, to reevaluate the need for further parks. While the outcome cannot be predicted at this time, the Master Association Board of Directors believes that 2010 will be the year for this reevaluation and will undoubtedly be looking for input from residents. As the year progresses, you are encouraged to take advantage of the opportunities presented to participate in this process, as the Board can only be as effective as the guidance provided by its members.

Q: So, when must the dues be paid?

A: Pursuant to the governing documents of the Master Association, dues are assessed on January 1 of each year. A grace period of 30 days is permitted before a late fee is assessed. In most years, the dues would be late if received after January 31. In 2010, however, that is a Sunday so payments will be considered timely if received by the HOA's bank in Phoenix, Arizona no later than the end of business on Monday, February 1, 2010. Please note that your invoice includes a personalized payment coupon, pre-addressed to the bank, with a return envelope. If you choose to mail a check, please do so in sufficient time to arrive in Phoenix by February 1, 2010. Your invoice also includes instructions for three online payment options through your private account on our management company's website, www.clientpreference.com. as well as valuable tips for bill pay users. Whether you choose to mail a check or avail yourself of one of the online payment options, please do so prior to the deadline or you will be subject to a $50 late fee. This may seem high, but the Master Association's governing documents specifically require this late fee as a minimum. The Master Association Board of Directors thanks you in advance for your prompt payment and invites you to contact Client Preference at 303-991-2770, Option 1 or with any questions or concerns.

Q: I didn't receive an invoice -am I going to be late?

A: If you did not receive an invoice, you probably have a credit balance on your account. You can check the status of your account by logging on at www.clientpreference.com (see statement for login instructions). Alternatively, if you own a home in Hidden Pointe your Master Association dues are collected as part of your Hidden Pointe HOA dues, which are transferred to the Master Association on your behalf.