Landen Meadows Homeowners Association
c/o Bumgardner Association Management
P.O. Box 102 l Belmont, NC 28012
Office: 704-829-7878 l Facsimile: 704-829-7499
E-Mail: BAMMgmtServices@aol.com
Website: www.bumgardneram.com

May 21, 2009

To the Residents and Homeowners of Landen Meadows:

We, the members of the Board of Directors of Landen Meadows HOA would like to officially announce that sufficient votes have been collected to authorize the special assessment which was originally put forth at the 2008 Annual Meeting. The Board would like to thank all of those individuals who took the time to respond to our request for votes and those who assisted in the collection of same.

As was originally stated at the 2008 Annual Meeting, the purpose of this assessment is to complete a refurbishing of the common areas of the neighborhood (i.e. pool, tennis courts, and entranceways) and to create a long-term capital account which the neighborhood can draw on in order to deal with deferred maintenance issues and long-term expenses. A primary goal of the Board in planning this assessment was to structure the assessment in order to eliminate any foreseeable need to raise the annual HOA dues in the future

The total assessment will be in the amount of $300.00 due and payable to Bumgardner Association Management on behalf of the Landen Meadows Homeowners' Association. The total bill will be broken into two (2) separate components. The first portion will be due on or before July 15, 2009 in the amount of $150.00, with the remainder due on November 15, 2009. BAM will be sending you an invoice with this letter which we would ask that you mail back to them with your check. If you as a homeowner are in a position where you will require a structured payment plan, please feel free to contact BAM on or before July 1, 2009 and set it up directly with them. They will be happy to assist you in making the proper arrangements. They can be reached as follows:

Mailing Address: P.O. Box 102 Office Address: 65 McAdenville Road
Belmont, NC 28012 Belmont, NC 28012

Telephone: 704-829-7878 Fax Number: 704-829-7499

Emergency Telephone: 704-777-4124 Email: Jaime@bumgardneram.com

Upon receipt of sufficient funds from the Assessment, the Board will begin signing contracts with the vendors who will be doing the work on our common areas, with an eye to completing as much of the work as possible as quickly as possible. Updates on progress will be posted on www.landenmeadows.org and included in the newsletter.

As a reminder, under the Covenants, Conditions & Restrictions that run with the Deeds in our neighborhood, the assessment is treated in the same way as our annual dues as far as the eligibility of a resident to utilize the amenities is concerned. That is, if you haven't completed payment of both, you will not be allowed the use of the tennis courts or the pool next year.

Finally, we as a Board would like to thank all of the residents for allowing us to represent you and to complete this process. We firmly believe that as the contemplated repairs and installations are completed, the improvement to the look of our neighborhood will be significant. In today's real estate market, any advantage that we as a neighborhood can gain will only help with our collective property values and have a positive impact on resale values in the neighborhood.

Sincerely,

The Board of Directors for the Homeowners' Association for Landen Meadows