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Criterium Engineers 2004

Reserve Fund Worksheet Fiscal Years: Normal: Jan 2010 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Partial: Sep 2010 (4 months) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Existing Funding Levels Beginning Reserve Fund Balance: $16,688 $16,354 $7,967 $18,710 $32,968 ($21,463) ($7,753) $4,347 ($20,576) ($6,576) $4,935 ($61,029) ($47,029) ($39,872) ($26,974) ($12,974) Revenue: $4,667 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 $14,000 Special Assessments: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Earnings: $399 $194 $456 $804 $0 $0 $106 $0 $0 $120 $0 $0 $0 $0 $0 $0 Capital Expenditures: $5,400 $22,581 $3,713 $546 $68,431 $290 $2,006 $38,923 $0 $2,610 $79,963 $0 $6,844 $1,101 $0 $237,782 Ending Reserve Balance: $16,354 $7,967 $18,710 $32,968 ($21,463) ($7,753) $4,347 ($20,576) ($6,576) $4,935 ($61,029) ($47,029) ($39,872) ($26,974) ($12,974) ($236,756) Alternative 1, Level Funding with Steps Average Cap. Expenditure $28,477 Beginning Reserve Fund Balance: $16,688 $17,310 $11,818 $29,660 $51,194 $7,818 $33,202 $61,594 $52,857 $87,929 $121,204 $80,156 $120,044 $158,047 $202,886 $254,108 Revenue: $5,600 $16,800 $20,832 $20,832 $24,864 $24,864 $28,896 $28,896 $32,928 $32,928 $36,960 $36,960 $40,992 $40,992 $45,024 $45,024 Special Assessment #1: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Special Assessment #2: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Earnings: $422 $288 $723 $1,249 $191 $810 $1,502 $1,289 $2,145 $2,956 $1,955 $2,928 $3,855 $4,948 $6,198 $1,534 Capital Expenditures: $5,400 $22,581 $3,713 $546 $68,431 $290 $2,006 $38,923 $0 $2,610 $79,963 $0 $6,844 $1,101 $0 $237,782 Ending Reserve Balance: $17,310 $11,818 $29,660 $51,194 $7,818 $33,202 $61,594 $52,857 $87,929 $121,204 $80,156 $120,044 $158,047 $202,886 $254,108 $62,884 Alternative 2, Escalating Funding at 6% per Year Beginning Reserve Fund Balance: $16,688 $17,999 $15,747 $34,005 $57,266 $12,904 $38,740 $65,010 $55,739 $87,872 $119,978 $75,554 $114,054 $148,699 $192,424 $240,839 Revenue: $6,272 $19,945 $21,142 $22,410 $23,755 $25,180 $26,691 $28,292 $29,990 $31,789 $33,697 $35,718 $37,861 $40,133 $42,541 $45,094 Special Assessment #1: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Special Assessment #2: $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Earnings: $439 $384 $829 $1,397 $315 $945 $1,586 $1,359 $2,143 $2,926 $1,843 $2,782 $3,627 $4,693 $5,874 $1,204 Capital Expenditures: $5,400 $22,581 $3,713 $546 $68,431 $290 $2,006 $38,923 $0 $2,610 $79,963 $0 $6,844 $1,101 $0 $237,782 Ending Reserve Balance: $17,999 $15,747 $34,005 $57,266 $12,904 $38,740 $65,010 $55,739 $87,872 $119,978 $75,554 $114,054 $148,699 $192,424 $240,839 $49,355 Alternative 3, Escalating Funding with Special Assessments Beginning Reserve Fund Balance: $16,688 $16,851 $68,162 $139,526 $160,794 $113,928 $136,699 $159,291 $145,669 $172,717 $198,937 $147,753 $178,543 $204,443 $238,298 $275,622 Revenue: $5,152 $16,229 $17,040 $17,892 $18,787 $19,726 $20,713 $21,748 $22,836 $23,977 $25,176 $26,435 $27,757 $29,145 $30,602 $32,132 Special Assessment #1: $0 $56,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Special Assessment #2: $0 $0 $56,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Earnings: $411 $1,662 $2,037 $3,922 $2,779 $3,334 $3,885 $3,553 $4,213 $4,852 $3,604 $4,355 $4,986 $5,812 $6,722 $1,749 Capital Expenditures: $5,400 $22,581 $3,713 $546 $68,431 $290 $2,006 $38,923 $0 $2,610 $79,963 $0 $6,844 $1,101 $0 $237,782 Ending Reserve Balance: $16,851 $68,162 $139,526 $160,794 $113,928 $136,699 $159,291 $145,669 $172,717 $198,937 $147,753 $178,543 $204,443 $238,298 $275,622 $71,722 Criterium Engineers Page 1 of 2 10/8/2010

Reserve Fund Worksheet Fiscal Years: Normal: Jan 2010 Partial: Sep 2010 (4 months) 2026 2027 2028 2029 17 18 19 20 Existing Funding Levels Beginning Reserve Fund Balance: Revenue: Special Assessments: Investment Earnings: Capital Expenditures: Ending Reserve Balance: ($236,756) ($318,797) ($308,103) ($294,103) $14,000 $14,000 $14,000 $14,000 $0 $0 $0 $0 $0 $0 $0 $0 $96,042 $3,306 $0 $0 ($318,797) ($308,103) ($294,103) ($280,103) Alternative 1, Level Funding w Beginning Reserve Fund Balance: Revenue: Special Assessment #1: Special Assessment #2: Investment Earnings: Capital Expenditures: Ending Reserve Balance: $62,884 $16,296 $63,597 $119,602 $49,056 $49,056 $53,088 $53,088 $0 $0 $0 $0 $0 $0 $0 $0 $397 $1,551 $2,917 $4,317 $96,042 $3,306 $0 $0 $16,296 $63,597 $119,602 $177,007 Alternative 2, Escalating Fundi Beginning Reserve Fund Balance: Revenue: Special Assessment #1: Special Assessment #2: Investment Earnings: Capital Expenditures: Ending Reserve Balance: $49,355 $1,141 $49,715 $106,007 $47,799 $50,667 $53,707 $56,930 $0 $0 $0 $0 $0 $0 $0 $0 $28 $1,213 $2,586 $4,073 $96,042 $3,306 $0 $0 $1,141 $49,715 $106,007 $167,011 Alternative 3, Escalating Fundi Beginning Reserve Fund Balance: Revenue: Special Assessment #1: Special Assessment #2: Investment Earnings: Capital Expenditures: Ending Reserve Balance: $71,722 $9,654 $42,818 $82,015 $33,739 $35,425 $37,197 $39,057 $0 $0 $0 $0 $0 $0 $0 $0 $235 $1,044 $2,000 $3,027 $96,042 $3,306 $0 $0 $9,654 $42,818 $82,015 $124,099 Criterium Engineers Page 2 of 2 10/8/2010

Reserve Study Worksheet General Information: 1 Organization: Parkview Townhomes 2 Address: Boldleaf Court Cary, NC 27513 3 Number of Units 28 4 Age of Building (in years) 25 5a Study Period (in years) 20 5b Normal Fiscal Year starts: January 1, 2010 5c Partial Fiscal Year starts: September 1, 2010 5d Partial Year Length: 4 months 6 Site Inspection Date July 1, 2010 7 Reserve Funds at start $16,688 8 Rate of Return on invested Reserve Funds (%) 2.5% 9 Inflation Rate (%) 3.0% 10 Current Funding Levels Existing Funding Levels Total/Month Total Annual Per Unit/Month Per Unit/Year Reserve Fund Contribution (First Year)... $1,167 $4,667 $41.67 $166.67 Reserve Fund Contribution (Remaining Years)... $1,167 $14,000 $41.67 $500.00 Years Out Total Annual Per Unit Planned Special Assessment... 0 $0 $0 Balance Computed... ($280,103) 11 Alternative Reserve Fund Contribution Alternative 1 Level Funding with Steps Total/Month Total Annual Per Unit/Month Per Unit/Year Monthly Amount, (First Year)... $1,400 $5,600 $50.00 $200.00 Monthly Amount, (Last Year)... $4,424 $53,088 $158.00 $1,896.00 Balance Required Final Year... $28,477 Special Assessments: Years Out Total/Year Per Unit First Assessment... 0 $0 $0 Second Assessment... 0 $0 $0 Balance Computed... $177,007 Alternative 2 Escalating Funding at 6% per Year Total/Month Total Annual Per Unit/Month Per Unit/Year Monthly Amount, (First Year)... $1,568 $6,272 $56.00 $224.00 Monthly Amount, (Last Year)... $4,744 $56,930 $169.43 $2,033.20 Balance Required Final Year... $28,477 Base Escalation %... 6.00% Special Assessments: Years Out Total/Year Per Unit First Assessment... 0 $0 $0 Second Assessment... 0 $0 $0 Balance Computed... $167,011 Alternative 3 Escalating Funding with Special Assessments Total/Month Total Annual Per Unit/Month Per Unit/Year Monthly Amount, (First Year)... $1,288 $5,152 $46.00 $184.00 Monthly Amount, (Last Year)... $3,255 $39,057 $116.24 $1,394.88 Balance Required Final Year... $28,477 Base Escalation %... 5.00% Special Assessments: Years Out Total/Year Per Unit First Assessment... 2 Jan 2011 $56,000 $2,000 Second Assessment... 3 Jan 2012 $56,000 $2,000 Balance Computed... $124,099

Itemized Worksheet Full Capital Item Reserve Beginning Frequency Remainingerve Funding Required Funding To Be Replaced Quantity Unit cost Requirement (*) Balance (yrs**) Life (yrs) Monthly Annual Balance Information Source Site Seal and stripe asphalt paving 3,956 SY $1.75 $6,923.00 $922.57 7 1 $500.04 $6,000.43 $5,934.00 Full depth structural repairs of asphalt 200 SY $55.00 $11,000.00 $1,641.79 25 1 $779.85 $9,358.21 $10,560.00 5% of total Overlay asphalt paving 3,956 SY $8.00 $31,648.00 $3,198.25 20 7 $338.69 $4,064.25 $20,571.20 Concrete curb & gutter repair 65 LF $20.00 $1,300.00 $101.06 8 4 $24.98 $299.74 $650.00 5% every 8 years Concrete sidewalk repair 40 SY $50.00 $2,000.00 $272.08 8 1 $143.99 $1,727.92 $1,750.00 5% every 8 years Entrance signage repair and paint 1 EA $250.00 $250.00 $14.58 8 5 $3.92 $47.08 $93.75 Remove pinestraw around buildings, install mulch 120 CY $45.00 $5,400.00 $839.55 25 0 $0.00 $0.00 $5,400.00 Drainage improvements 1 EA $3,500.00 $3,500.00 $435.32 10 2 $127.69 $1,532.34 $2,800.00 Replace retaining wall 100 LF $20.00 $2,000.00 $295.40 20 1 $142.05 $1,704.60 $1,900.00 Building Exterior Roof and gutter replacement 620 SQ $235.00 $145,700.00 $5,663.08 20 15 $777.98 $9,335.79 $36,425.00 Paint building exteriors 28 EA $2,000.00 $56,000.00 $2,902.15 6 4 $1,106.21 $13,274.46 $18,666.67 Repair siding, trim, railings 1 EA $3,500.00 $3,500.00 $181.38 6 4 $69.14 $829.65 $1,166.67 Building Interior Mechanical Replace entrance light fixtures 2 EA $175.00 $350.00 $21.77 10 6 $4.56 $54.71 $140.00 Amenities Replace mailboxes 38 EA $35.00 $1,330.00 $144.74 20 6 $16.46 $197.54 $931.00 Replace picnic table 1 EA $500.00 $500.00 $54.42 10 3 $12.38 $148.53 $350.00 Other Totals $271,401.00 $16,688.13 $4,047.94 $48,575.26 $107,338.28 * Costs are typically 10%± ** Reserve study is based on a 20 year projection of non-annual maintenance Total Over Term $414,147.00

Itemized Graph Categories Totals Site $86,917 Building Exterior $324,200 Building Interior $0 Mechanical $700 Amenities $2,330 Other $0 Total $414,147 Amenities, $2,330 Other, $0 Site, $86,917 Itemized Graph Building Exterior, $324,200 Site Building Exterior Building Interior Mechanical Amenities Other Mechanical, $700 Building Interior, $0

Itemized Funding Monthly Annual Balance Reserve Reserve Full Reserve Beginning Requiring Funding Funding Funding Percent Categories Requirement Balance Funding Required Required Balance Funded Site $86,917 $7,721 $79,196 $2,061 $24,735 $49,659 Building Exterior $324,200 $8,747 $315,453 $1,953 $23,440 $56,258 Building Interior $0 $0 $0 $0 $0 $0 Mechanical $700 $22 $678 $5 $55 $140 Amenities $2,330 $199 $2,131 $29 $346 $1,281 Other $0 $0 $0 $0 $0 $0 Totals $414,147 $16,688 $397,459 $4,048 $48,575 $107,338 15.5%

Annual Expense By Year Year: 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Year Number: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Site Seal and stripe asphalt paving 0 6,923 0 6,923 Full depth structural repairs of asphalt 0 11,00 0 0 0 Overlay asphalt paving 0 0 0 31,648 Concrete curb & gutter repair 1,30 1,30 Concrete sidewalk repair 0 2,00 2,00 0 0 0 Entrance signage repair and paint 0 25 250 0 0 Remove pinestraw around buildings, install mulch 5,40 Drainage improvements 0 0 3,50 0 0 3,50 Replace retaining wall 0 2,00 0 0 0 Building Exterior Roof and gutter replacement 0 0 0 145,700 Paint building exteriors 56,00 0 0 56,00 0 0 Repair siding, trim, railings 3,50 0 0 3,50 0 0 Building Interior Mechanical Replace entrance light fixtures 0 0 35 0 0 Amenities Replace mailboxes 0 0 1,33 0 0 Replace picnic table 0 0 0 50 0 0 500 0 0 Other Total Costs 5,400 21,923 3,500 500 60,800 250 1,680 31,648 0 2,000 59,500 0 4,800 750 0 152,623 Total Costs Adjusted For 3% Inflation 5,400 22,581 3,713 546 68,431 290 2,006 38,923 0 2,610 79,963 0 6,844 1,101 0 237,782 Criterium Engineers Page 1 of 2 10/8/2010

Annual Expense By Year Year: Year Number: Site Seal and stripe asphalt paving Full depth structural repairs of asphalt Overlay asphalt paving Concrete curb & gutter repair Concrete sidewalk repair Entrance signage repair and paint Remove pinestraw around buildings, install mulch Drainage improvements Replace retaining wall Building Exterior Roof and gutter replacement Paint building exteriors Repair siding, trim, railings Building Interior Mechanical Replace entrance light fixtures Amenities Replace mailboxes Replace picnic table Other Total Costs Total Costs Adjusted For 3% Inflation 2026 2027 2028 2029 17 18 19 20 0 2,000 0 0 56,00 3,50 35 59,850 2,000 0 0 96,042 3,306 0 0 Criterium Engineers Page 2 of 2 10/8/2010

Existing Funding Levels Beginning Year Reserve Fund Fee Special Investment Capital Ending Year Number Balance Revenue Assessments Earnings Expenditures Balance 2010 1 $16,688 $4,667 $0 $399 $5,400 $16,354 2011 2 $16,354 $14,000 $0 $194 $22,581 $7,967 2012 3 $7,967 $14,000 $0 $456 $3,713 $18,710 2013 4 $18,710 $14,000 $0 $804 $546 $32,968 2014 5 $32,968 $14,000 $0 $0 $68,431 ($21,463) 2015 6 ($21,463) $14,000 $0 $0 $290 ($7,753) 2016 7 ($7,753) $14,000 $0 $106 $2,006 $4,347 2017 8 $4,347 $14,000 $0 $0 $38,923 ($20,576) 2018 9 ($20,576) $14,000 $0 $0 $0 ($6,576) 2019 10 ($6,576) $14,000 $0 $120 $2,610 $4,935 2020 11 $4,935 $14,000 $0 $0 $79,963 ($61,029) 2021 12 ($61,029) $14,000 $0 $0 $0 ($47,029) 2022 13 ($47,029) $14,000 $0 $0 $6,844 ($39,872) 2023 14 ($39,872) $14,000 $0 $0 $1,101 ($26,974) 2024 15 ($26,974) $14,000 $0 $0 $0 ($12,974) 2025 16 ($12,974) $14,000 $0 $0 $237,782 ($236,756) 2026 17 ($236,756) $14,000 $0 $0 $96,042 ($318,797) 2027 18 ($318,797) $14,000 $0 $0 $3,306 ($308,103) 2028 19 ($308,103) $14,000 $0 $0 $0 ($294,103) 2029 20 ($294,103) $14,000 $0 $0 $0 ($280,103)

Existing Funding Levels Beginning Balance as of start of year beginning Jan 2010: $16,688 CONTRIBUTIONS SPECIAL ASSESSMENTS FIRST YR REM YRS Totals $4,666.64 $13,999.92 per year Per Year $0 Per Unit $0 $166.67 $500.00 per unit per year $1,166.66 $1,166.66 per month $41.67 $41.67 per unit per month Projected Annual Funding and Expenditures: Year: 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Year Number: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 End of Year Reserve Fund Balance 16,354 7,967 18,710 32,968 (21,463) (7,753) 4,347 (20,576) (6,576) 4,935 (61,029) (47,029) (39,872) (26,974) (12,974) Capital Expenditures: 5,400 22,581 3,713 546 68,431 290 2,006 38,923-2,610 79,963-6,844 1,101 - Total Revenue (all sources) 5,066 14,194 14,456 14,804 14,000 14,000 14,106 14,000 14,000 14,120 14,000 14,000 14,000 14,000 14,000 Year: 2025 2026 2027 2028 2029 Year Number: 16 17 18 19 20 End of Year Reserve Fund Balance (236,756) (318,797) (308,103) (294,103) (280,103) Capital Expenditures: 237,782 96,042 3,306 - - Total Revenue (all sources) 1,026 (222,756) (304,798) (294,103) (280,103) Existing Funding Levels 100,000 50,000-2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 (50,000) Dollars (100,000) (150,000) (200,000) (250,000) (300,000) (350,000) Funding Years

Alternative 1: Level Funding with Steps Beginning Year Reserve Fund Fee Special Special Investment Capital Ending Year Number Balance Revenue Assessments 1 Assessments 2 Earnings Expenditures Balance 2010 1 $16,688 $5,600 $0 $0 $422 $5,400 $17,310 2011 2 $17,310 $16,800 $0 $0 $288 $22,581 $11,818 2012 3 $11,818 $20,832 $0 $0 $723 $3,713 $29,660 2013 4 $29,660 $20,832 $0 $0 $1,249 $546 $51,194 2014 5 $51,194 $24,864 $0 $0 $191 $68,431 $7,818 2015 6 $7,818 $24,864 $0 $0 $810 $290 $33,202 2016 7 $33,202 $28,896 $0 $0 $1,502 $2,006 $61,594 2017 8 $61,594 $28,896 $0 $0 $1,289 $38,923 $52,857 2018 9 $52,857 $32,928 $0 $0 $2,145 $0 $87,929 2019 10 $87,929 $32,928 $0 $0 $2,956 $2,610 $121,204 2020 11 $121,204 $36,960 $0 $0 $1,955 $79,963 $80,156 2021 12 $80,156 $36,960 $0 $0 $2,928 $0 $120,044 2022 13 $120,044 $40,992 $0 $0 $3,855 $6,844 $158,047 2023 14 $158,047 $40,992 $0 $0 $4,948 $1,101 $202,886 2024 15 $202,886 $45,024 $0 $0 $6,198 $0 $254,108 2025 16 $254,108 $45,024 $0 $0 $1,534 $237,782 $62,884 2026 17 $62,884 $49,056 $0 $0 $397 $96,042 $16,296 2027 18 $16,296 $49,056 $0 $0 $1,551 $3,306 $63,597 2028 19 $63,597 $53,088 $0 $0 $2,917 $0 $119,602 2029 20 $119,602 $53,088 $0 $0 $4,317 $0 $177,007

Alternative 1: Level Funding with Steps Beginning Balance as of start of year beginning Jan 2010: $16,688 CONTRIBUTIONS SPECIAL ASSESSMENTS SETTINGS (analyzed by unit/month) FIRST YR LAST YR Totals Starting amount ($): 50 $5,600.00 $53,088.00 per year First Per Year $0 Per Unit $0 Increment by ($): 12 $200.00 $1,896.00 per unit per year Second Per Year $0 Per Unit $0 Every 2 year $1,400.00 $4,424.00 per month Frequency: 10 time $50.00 $158.00 per unit per month Projected Annual Funding and Expenditures: Year: 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Year Number: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 End of Year Reserve Fund Balance 17,310 11,818 29,660 51,194 7,818 33,202 61,594 52,857 87,929 121,204 80,156 120,044 158,047 202,886 254,108 Capital Expenditures: 5,400 22,581 3,713 546 68,431 290 2,006 38,923-2,610 79,963-6,844 1,101 - Total Revenue (all sources) 6,022 17,088 21,555 22,081 25,055 25,674 30,398 30,185 35,073 35,884 38,915 39,888 44,847 45,940 51,222 Year: 2025 2026 2027 2028 2029 Year Number: 16 17 18 19 20 End of Year Reserve Fund Balance 62,884 16,296 63,597 119,602 177,007 Capital Expenditures: 237,782 96,042 3,306 - - Total Revenue (all sources) 46,558 49,453 50,607 56,005 57,405 Alternative 1: Level Funding with Steps 300,000 250,000 200,000 Dollars 150,000 100,000 50,000-2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Funding Years

Alternative 2: Escalating Funding at 6% per Year Beginning Year Reserve Fund Fee Special Special Investment Capital Ending Year Number Balance Revenue Assessments 1 Assessments 2 Earnings Expenditures Balance 2010 1 $16,688 $6,272 $0 $0 $439 $5,400 $17,999 2011 2 $17,999 $19,945 $0 $0 $384 $22,581 $15,747 2012 3 $15,747 $21,142 $0 $0 $829 $3,713 $34,005 2013 4 $34,005 $22,410 $0 $0 $1,397 $546 $57,266 2014 5 $57,266 $23,755 $0 $0 $315 $68,431 $12,904 2015 6 $12,904 $25,180 $0 $0 $945 $290 $38,740 2016 7 $38,740 $26,691 $0 $0 $1,586 $2,006 $65,010 2017 8 $65,010 $28,292 $0 $0 $1,359 $38,923 $55,739 2018 9 $55,739 $29,990 $0 $0 $2,143 $0 $87,872 2019 10 $87,872 $31,789 $0 $0 $2,926 $2,610 $119,978 2020 11 $119,978 $33,697 $0 $0 $1,843 $79,963 $75,554 2021 12 $75,554 $35,718 $0 $0 $2,782 $0 $114,054 2022 13 $114,054 $37,861 $0 $0 $3,627 $6,844 $148,699 2023 14 $148,699 $40,133 $0 $0 $4,693 $1,101 $192,424 2024 15 $192,424 $42,541 $0 $0 $5,874 $0 $240,839 2025 16 $240,839 $45,094 $0 $0 $1,204 $237,782 $49,355 2026 17 $49,355 $47,799 $0 $0 $28 $96,042 $1,141 2027 18 $1,141 $50,667 $0 $0 $1,213 $3,306 $49,715 2028 19 $49,715 $53,707 $0 $0 $2,586 $0 $106,007 2029 20 $106,007 $56,930 $0 $0 $4,073 $0 $167,011

Alternative 2: Escalating Funding at 6% per Year Beginning Balance as of start of year beginning Jan 2010: $16,688 CONTRIBUTIONS SPECIAL ASSESSMENTS SETTINGS (analyzed by unit/month) FIRST YR LAST YR Totals Starting amount ($): 56 $6,272.00 $56,929.68 per year First Per Year $0 Per Unit $0 Increment by (%): 6 $224.00 $2,033.20 per unit per year Second Per Year $0 Per Unit $0 Step (%): $1,568.00 $4,744.14 per month Every 1 year $56.00 $169.43 per unit per month Frequency: 20 time Projected Annual Funding and Expenditures: Year: 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Year Number: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 End of Year Reserve Fund Balance 17,999 15,747 34,005 57,266 12,904 38,740 65,010 55,739 87,872 119,978 75,554 114,054 148,699 192,424 240,839 Capital Expenditures: 5,400 22,581 3,713 546 68,431 290 2,006 38,923-2,610 79,963-6,844 1,101 - Total Revenue (all sources) 6,711 20,329 21,971 23,807 24,070 26,125 28,276 29,652 32,133 34,716 35,539 38,500 41,488 44,826 48,415 Year: 2025 2026 2027 2028 2029 Year Number: 16 17 18 19 20 End of Year Reserve Fund Balance 49,355 1,141 49,715 106,007 167,011 Capital Expenditures: 237,782 96,042 3,306 - - Total Revenue (all sources) 46,297 47,827 51,880 56,293 61,003 Alternative 2: Escalating Funding at 6% per Year 300,000 250,000 200,000 Dollars 150,000 100,000 50,000-2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Funding Years

Alternative 3: Escalating Funding with Special Assessments Beginning Year Reserve Fund Fee Special Special Investment Capital Ending Year Number Balance Revenue Assessments 1 Assessments 2 Earnings Expenditures Balance 2010 1 $16,688 $5,152 $0 $0 $411 $5,400 $16,851 2011 2 $16,851 $16,229 $56,000 $0 $1,662 $22,581 $68,162 2012 3 $68,162 $17,040 $0 $56,000 $2,037 $3,713 $139,526 2013 4 $139,526 $17,892 $0 $0 $3,922 $546 $160,794 2014 5 $160,794 $18,787 $0 $0 $2,779 $68,431 $113,928 2015 6 $113,928 $19,726 $0 $0 $3,334 $290 $136,699 2016 7 $136,699 $20,713 $0 $0 $3,885 $2,006 $159,291 2017 8 $159,291 $21,748 $0 $0 $3,553 $38,923 $145,669 2018 9 $145,669 $22,836 $0 $0 $4,213 $0 $172,717 2019 10 $172,717 $23,977 $0 $0 $4,852 $2,610 $198,937 2020 11 $198,937 $25,176 $0 $0 $3,604 $79,963 $147,753 2021 12 $147,753 $26,435 $0 $0 $4,355 $0 $178,543 2022 13 $178,543 $27,757 $0 $0 $4,986 $6,844 $204,443 2023 14 $204,443 $29,145 $0 $0 $5,812 $1,101 $238,298 2024 15 $238,298 $30,602 $0 $0 $6,722 $0 $275,622 2025 16 $275,622 $32,132 $0 $0 $1,749 $237,782 $71,722 2026 17 $71,722 $33,739 $0 $0 $235 $96,042 $9,654 2027 18 $9,654 $35,425 $0 $0 $1,044 $3,306 $42,818 2028 19 $42,818 $37,197 $0 $0 $2,000 $0 $82,015 2029 20 $82,015 $39,057 $0 $0 $3,027 $0 $124,099

Alternative 3: Escalating Funding with Special Assessments Beginning Balance as of start of year beginning Jan 2010: $16,688 CONTRIBUTIONS SPECIAL ASSESSMENTS SETTINGS (analyzed by unit/month) FIRST YR LAST YR Totals Starting amount ($): 46 $5,152.00 $39,056.54 per year First Jan 2011 Per Year $56,000 Per Unit $2,000 Increment by (%): 5 $184.00 $1,394.88 per unit per year Second Jan 2012 Per Year $56,000 Per Unit $2,000 Step (%): 0 $1,288.00 $3,254.71 per month Every 1 year $46.00 $116.24 per unit per month Frequency: 20 time Projected Annual Funding and Expenditures: Year: 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Year Number: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 End of Year Reserve Fund Balance 16,851 68,162 139,526 160,794 113,928 136,699 159,291 145,669 172,717 198,937 147,753 178,543 204,443 238,298 275,622 Capital Expenditures: 5,400 22,581 3,713 546 68,431 290 2,006 38,923-2,610 79,963-6,844 1,101 - Total Revenue (all sources) 5,563 73,891 75,077 21,814 21,566 23,060 24,598 25,301 27,048 28,829 28,780 30,790 32,743 34,957 37,324 Year: 2025 2026 2027 2028 2029 Year Number: 16 17 18 19 20 End of Year Reserve Fund Balance 71,722 9,654 42,818 82,015 124,099 Capital Expenditures: 237,782 96,042 3,306 - - Total Revenue (all sources) 33,881 33,974 36,470 39,197 42,083 Alternative 3: Escalating Funding with Special Assessments 300,000 250,000 200,000 Dollars 150,000 100,000 50,000-2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 Funding Years

Summary of Reserve Balances Year Yearly Year Number Expenditures Alt. 1 Alt. 2 Alt. 3 2010 1 $5,400 $17,310 $17,999 $16,851 2011 2 $22,581 $11,818 $15,747 $68,162 2012 3 $3,713 $29,660 $34,005 $139,526 2013 4 $546 $51,194 $57,266 $160,794 2014 5 $68,431 $7,818 $12,904 $113,928 2015 6 $290 $33,202 $38,740 $136,699 2016 7 $2,006 $61,594 $65,010 $159,291 2017 8 $38,923 $52,857 $55,739 $145,669 2018 9 $0 $87,929 $87,872 $172,717 2019 10 $2,610 $121,204 $119,978 $198,937 2020 11 $79,963 $80,156 $75,554 $147,753 2021 12 $0 $120,044 $114,054 $178,543 2022 13 $6,844 $158,047 $148,699 $204,443 2023 14 $1,101 $202,886 $192,424 $238,298 2024 15 $0 $254,108 $240,839 $275,622 2025 16 $237,782 $62,884 $49,355 $71,722 2026 17 $96,042 $16,296 $1,141 $9,654 2027 18 $3,306 $63,597 $49,715 $42,818 2028 19 $0 $119,602 $106,007 $82,015 2029 20 $0 $177,007 $167,011 $124,099 Summary of Reserve Balances $300,000 $250,000 $200,000 Dollars $150,000 $100,000 $50,000 $0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Funding Years Alt. 1 Alt. 2 Alt. 3