February 2008

Drummer Farms Gazette

Bimonthly Vol. III No. 1 February 2008

Certificate of Insurance

If you receive notification from your bank or mortgage company that they require proof of the master policy insurance coverage. please contact the agent for Drummer Farms, Richard W. Endlar Insurance, at 781-455-6664. They will be glad to provide what is called a "Certificate of Insurance."

Hot Water Heaters

When a water heater bursts, it will discharge water until the supply is stopped. Therefore, the water valve must be turned off immediately to minimize the extent of the damage. Make sure you are familiar with the emergency instructions for your water heater and know the location of your water shutoff valve. Additionally, you should check the expiration date of your warranty and may want to consider replacing the water heater if the warranty period is almost up or if you notice rust in the water.

You can also purchase a water leak detector alarm from your local hardware store or Home Depot for about $15.00 to $20.00. The alarm will alert you at the first sign of leakage and may help to minimize damages. Remember - water heaters do not usually last long after their warranty period! Replacing an old water heater now can save you the cost and headache of repairing major damage from a burst tank later!

Residents' Corner

Welcome the following new owners to the Drummer Farms Community! Carol Ami Boughurn (L-03) and John Ward (C-03)

Financial Summary

The following is a financial summary through the end of December from April 1, 2007:

Profit / Loss Statement
Revenue $ 247,674
Expense 175,684
Plus YTD Transfers:
Contingency 11,250
Working Capital 27,000
Res. for Replacement 22,500
Profit (Loss) $ 11,213

Balance Sheet
Checking $ 18,474
Contingency Account 10,013
Working Capital 2,525
Reserve 17,931
Total $ 48,493

Non-Operating Expenses
Capital Improvements $ 33,280
Working Capital Exp. 24,500

Plowing Reminder

Residents and their guests must move vehicles during the plowing operation. Please move your car to a newly plowed area after each snowstorm so the contractor can plow and clear all sections of the parking lot.

If you plan to be away during the storm, you must make arrangements for your vehicles, either by removing them from the property or by leaving keys with a neighbor who is willing to clear off your vehicles and move them for you.

Property Management Plus will be clearing parking spaces up to four hours after the completion of the storm. When a vehicle is not moved during the plowing operation, it creates an extra burden for the contractor, which in turn cost the association additional money.

Sales Activity
Below is our current owner occupancy at Drummer Farms:

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

Two units have been sold since our last publishing:

Date Sale Price
11/29 C-03 $135,000
12/7 L-03 $238,000

That's the news from Drummer Farms.