Correction to Annual Meeting Date

The Annual Meeting has been rescheduled to WEDNESDAY May 12th at 6pm at the clubhouse. Residents are invited to attend.

Special Assessment Letter

SCOTTSDALE COLONY

Managed by Heywood Realty & Investment, Inc.

42 S. Hamilton Place, Suite 101

Gilbert, Arizona 85233

(480) 820-1519 * (480) 820-1722 (FAX)

March 31, 2010

TO: All Scottsdale Colony Owners

FROM: Steve Cheff, Property Supervisor

RE: SPECIAL ASSESSMENT FOR LANDSCAPE CONVERSION, PAVING, AND SOLAR POOL HEATER

Dear Owner:

At the Special Meeting of the Owners held on March 22, 2010, it was determined that the required votes have been received regarding the pending special assessment for the paving, landscape conversion and solar pool heater projects. The homeowner’s votes indicate that they overwhelmingly approve the funding for these projects.

As indicated on the ballot, the special assessment of $300.00 per unit may be paid in one lump sum or in three monthly installments of $100.00 with payments due on May 1, June 1, and July 1, 2010. The sooner we receive the funding the sooner we can begin these projects to enhance our community. To help fund these projects the board has allocated more than $15,000 from the reserves towards these projects.

Please make your special assessment payments at the same time as your regular monthly HOA assessment. Please include your Lot # on your check for proper crediting of your account. If you have your monthly payment deducted automatically then you must send in the special assessment payment or written authorization for us to withdraw the special assessment from your account.

We will notify all owners before we start with the paving project so that all vehicles can be moved as needed.

Thank you for your cooperation in this matter.

Sincerely,

Steve Cheff

Property Supervisor

Scottsdale Colony Homeowners Association

April 2010 Annual Meeting

The next HOA meeting will be the Annual Meeting to be held on Monday April 26th, at 6pm at the clubhouse. Residents are invited to attend.

March 2010 Meeting Minutes

THE COLONY AT SCOTTSDALE

HOMEOWNERS ASSOCIATION MEETING

MARCH 22, 2010

The board meeting was called to order at 6:10 P.M. Board members attending were: Suzanne Muusers, Lance Donatello, Brian Weimer and Guillermo Nevarez. Also attending: Steve Cheff of Heywood Realty.

Homeowners requests/comments:

1. Architectural Request: Unit 254 – Approved.

2. New move-ins: none.

3. Scott from Kleanrite presented to the board their proposal for the community’s landscape improvements project.

Review an approval of minutes last meeting:

The minutes from the February 22, 2010 meeting were reviewed and approved by the board members. The minutes were published in the community’s webpage.

Monthly financial statements:

A) The financial statements for February 2010 were reviewed and approved.

Old Business:

A) The special assessment proposal for the asphalt repairs, the ongoing landscape projects and the installation of the solar pool heater was overwhelmingly approved by the community. Steve Heywood will notify homeowners of the two payment options: 1) a full payment of $300 and 2) three payments of $100 each for three months starting with May 2010.

B) The board discussed the installation of the solar heater for the pool. The contract with Performance Solar Inc was signed. The panels and the necessary fence will be installed in the area behind the tennis courts and the west canal fence.

C) Suzanne will go to the City Of Scottsdale offices in an attempt to locate the correct contact person regarding the city’s grant.

New Business:

A) The board discussed the scheduling of the community’s annual meeting for the month of April 2010.

B) The board reviewed the bids for the landscape conversion projects. Steve Cheff will inform Kleanrite about any necessary changes and a revised bid will be sent.

C) The board discussed the bid that was obtained to clean the granite signs throughout the community.

Legal Issues:

None.

Collection Activity:

A) The board discussed the status of aged accounts.

The meeting was adjourned at 7:35 P.M. The next meeting will be the Annual Homeowner’s meeting on April 26, 2010 at 6:30 P.M. at the clubhouse.