August 2008

Drummer Farms Gazette

Bimonthly Vol. III No. 4 August 2008

Master Insurance Deductible

We urge each unit owner and/or resident to obtain their own homeowner's insurance (HO-6).

Although Drummer Farms has a Master Insurance policy for the buildings, it does not cover the contents of the units. Therefore we urge you to talk to an insurance agent about obtaining a condominium homeowner's (HO-6) coverage and include the HO-32 endorsement, which broadens the perils that are insured-against from "Named Perils" to "All Risks" for a nominal additional fee.

It is important to notify your insurance agent that the deductible on the Master Policy is changing from $2500 to $5,000 during the renewal on September l, 2008. Your homeowner policy will be responsible for the first $5,000 of any claim. [Editor's note: After hearing feedback from the community, the Trustees purchased a policy with the same $2500 deductible.]

Unit owners who do not have their own homeowners' policy are responsible for any losses sustained that are not covered by the Master Insurance policy; and are responsible for the full amount of the deductible in the event of losses that are covered by the Master Policy.

Common Area Repairs

Please be sure to notify Alpine immediately if you have a maintenanee emergency regarding common area. The Board of Trustees does not generally reimburse for common area maintenance after the fact. You must submit the repair request to the Board prior to any repairs being made if you will be requesting reimbursement.

Residents Corner

Welcome Viktoria Pikler, new owner of unit B-3 and Sanjeev Bhatia & Lata Bhatia. new owners of unit I-01 to the Drumrner Farms community!

Financial Summary
The following is a financial summary through the end of June from April 1, 2008:

Profit / Loss Statement
Revenue $ 88,524
Expense 78,299
Plus YTD Transfers:
Painting 2,450
Contingency 5,500
Res. for Replacement 8,333
Profit (Loss) $ (6.058)

Balance Sheet
Checking $ 1,844
Working Capital 12,054
Contingency Account 16,251
Reserve 49,111
Total $ 79,260

Doggy Duty

Recently it has been brought to the attention of Alpine and the Board of Trustees that some dog owners at the property are throwing away their dog's waste in the trash receptacles in the mailbox huts. Please note that each mail shed has a special pet waste receptacle tothe left of it. These "poop pails" are made of metal and have a lid. They are emptied each week along with the trash and recycling bins. The pails are provided for the convenience of dog owners and also help keep our community clean and odor free.

Cleaning up after your dog is very much appreciated by the entire community. Kindly remember to use the special trash receptacles that have been dedicated to pet waste and always deposit your dog's poop in the metal "poop" containers provided for that purpose.

Thanks again for your commitment to keeping Drummer Farms a pet friendly place to live.

Sales Activity
Below is our current owner occupancy since last publishing:

Investor owned units 7
Owner occupied units 73
% of owner occupancy 91%

Two units have been sold since our last publishing:

Date Sale Price
5/30 I-01 $222,000
6/30 B-03 $225,000

That's the news from Drummer Farms.