Waters Edge Homeowners Association

January 21, 2005

Mar 22, 2005

Dear Homeowner,

Happy New Year! It seems like only a few weeks ago that I was asked to take the position as president of our homeowners association. I have enjoyed working with my fellow board members. Our focus for the first year was to improve the way in which the board fulfills its basic function; to protect and enhance property values by fair and consistent enforcement of our Restrictive Covenants. The policies that we established have helped us to address several compliance issues as well as significantly reduce the number of delinquent assessments.

As the new year begins, it is time to plan for our annual meeting. This letter is notification that the annual meeting of the Waters Edge Homeowners Association will be held on Sunday, February 27th at 2:00PM at the High Rock Boat & Ski Club.

Annual assessments for 2005 will remain unchanged at:

House on lot: $325.00
Vacant waterfront lot: $81.25
Vacant back lot: $32.50
Boat House on lot: $57.50

You are eligible for a $25.00 discount off the assessment for a house on a lot if (1) you attend the entire meeting and (2) pay the full amount due at the meeting and (3) are not delinquent in any earlier assessments, fees or late charges. If you cannot attend the meeting, the assessment will not be discounted and your payment can be mailed to Waters Edge Homeowners Association, PO Box 1644, Salisbury, NC 28144-1644. Payment is due on the date of the annual meeting. Payments not received by March 31st will be considered delinquent and will be subject to a late fee and interest.

Finally, as required by House Bill 1160 (The Clean Water Act of 1999), this letter includes a copy of our Sewer System Performance Annual Report. I wish to thank Skip Blackburn, Harold Stover, Norman Albrecht and Darrell Hurley for their service to this community for the year. As you are all aware, we rely on the proper operation of our sanitary sewer system so that each of our homes remains habitable. These gentlemen have ensured that we have complied with all requirements of our license to operate the sewer system and have maintained the system in peak operating status.

Respectfully;



Jim Garrett
President
(704) 639-1632