reserve analysis sample hoa...2013/08/19 · p.o. box 1762 • castle rock, co 80104 • phone...

P.O. Box 1762 • Castle Rock, CO 80104 • Phone (303) 790-7572 • Fax (303) 688-3083 www.aspenrs.com

Treehouse Condominiums

Ryan Gulch Road Silverthorne, CO 80498

Level 1 Reserve Analysis

Report Period – 01/01/13 – 12/31/13

Client Reference Number - 8508 Property Type – Condominiums Number of Units – 249 Fiscal Year End – December 31

Date of Property Observation - November and December 2012, January 2013 Project Manager - G. Michael Kelsen, RS, PRA Main Contact Person - Ms. Barb Walter, Community Manager Report was prepared on - Monday, August 19, 2013

FINAL REPORT

Table of Contents SECTION 1:

Introduction to Reserve Analysis--------------------------------------------------------------page 1

General Information and Answers to FAQ’s------------------------------------------pages 2 - 3

Summary of Reserve Analysis------------------------------------------------------------------page 4

SECTION 2:

Physical Analysis (Photographic) Common Area Grounds---------------------------------------------------------------------pages 1 – 16 Buildings A – I----------------------------------------------------------------------------------pages 1 – 30 Buildings J – K---------------------------------------------------------------------------------pages 1 – 13 Guest Clubhouse------------------------------------------------------------------------------pages 1 – 46 Owner’s Clubhouse---------------------------------------------------------------------------pages 1 – 31

SECTION 3:

Financial Analysis

a) Funding Summary-------------------------------------------------------------------------------------page 1 b) Percent Funded – Graph----------------------------------------------------------------------------page 2 c) Asset Inventory List

Common Area Grounds------------------------------------------------------------------------------page 3 Buildings A – I-----------------------------------------------------------------------------------------pages 4 Buildings J – K----------------------------------------------------------------------------------------pages 5 Guest Clubhouse-------------------------------------------------------------------------------------pages 6 Owner’s Clubhouse----------------------------------------------------------------------------------pages 7

d) Significant Components Table---------------------------------------------------------------pages 8 – 9 e) Significant Components – Graph----------------------------------------------------------------page 10 f) Yearly Summary Table-----------------------------------------------------------------------------page 11 g) Yearly Contributions – Graph---------------------------------------------------------------------page 12 h) Component Funding Information--------------------------------------------------------pages 13 – 15 i) Yearly Cash Flow Table----------------------------------------------------------------------------page 16 j) Projected Expenditures Year by Year – Graph ----------------------------------------------page 17k) Projected Expenditures Year by Year --------------------------------------------------pages 18 – 23

SECTION 4: Glossary of Terms and Definitions------------------------------------------------------pages 1 - 2

1

Introduction to the Reserve Analysis – The elected officials of this association made a wise decision to invest in a Reserve Analysis to get a better understanding of the status of the Reserve funds. This Analysis will be a valuable tool to assist the Board of Directors in making the decision to which the dues are derived. Typically, the Reserve contribution makes up 15% - 40% of the association’s total budget. Therefore, Reserves is considered to be a significant part of the overall monthly association payment. Every association conducts its business within a budget. There are typically two main parts to this budget, Operating and Reserves. The Operating budget includes all expenses that are fixed on an annual basis. These would include management fees, maintenance fees, utilities, etc. The Reserves is primarily made up of Capital Replacement items such as asphalt, roofing, fencing, mechanical equipment, etc., that do not normally occur on an annual basis. The Reserve Analysis is also broken down into two different parts, the Physical Analysis and the Financial Analysis. The Physical Analysis is information regarding the physical status and replacement cost of major common area components that the association is responsible to maintain. It is important to understand that while the Component Inventory will remain relatively “stable” from year to year, the Condition Assessment and Life/Valuation Estimates will most likely vary from year to year. You can find this information in the Asset Inventory Section (Section 2) of this Reserve Analysis. The Financial Analysis Section is the evaluation of the association’s Reserve balance, income, and expenses. This is made up of a finding of the clients current Reserve Fund Status (measured as Percent Funded) and a recommendation for an appropriate Reserve Allocation rate (also known as the Funding Plan). You can find this information in Section 3 (pages 1 – 13) of this Reserve Analysis. The purpose of this Reserve Analysis is to provide an educated estimate as to what the Reserve Allocation needs to be. The detailed schedules will serve as an advanced warning that major projects will need to be addressed in the future. This will allow the Board of Directors to have ample timing to obtain competitive estimates and bids that will result in cost savings to the individual homeowners. This will also ensure the physical well being of the property and ultimately enhance each owner’s investment, while limiting the possibility of unexpected major projects that may lead to Special Assessments. It is important for the client, homeowners, and potential future homeowners to understand that the information contained in this analysis is based on estimates and assumptions gathered from various sources. Estimated life expectancies and cycles are based upon conditions that were readily visible and accessible at time of the observation. No destructive or intrusive methods (such as entering the walls to inspect the condition of electrical wiring, plumbing lines, and telephone wires) were performed. In addition, environmental hazards (such as lead paint, asbestos, radon, etc.), construction defects, and acts of nature have not been investigated in the preparation of this report. If problem areas were revealed, a reasonable effort has been made to include these items within the report. While every effort has been made to ensure accurate results, this report reflects the judgement of Aspen Reserve Specialties and should not be construed as a guarantee or assurance of predicting future events.

2

General Information and Answers to Frequently Asked Questions – Why is it important to perform a Reserve Study? As previously mentioned, the Reserve allocation makes up a significant portion of the total monthly dues. This report provides the essential information that is needed to guide the Board of Directors in establishing the budget in order to run the daily operations of your association. It is suggested that a third party professionally prepare a Reserve Study since there is no vested interest in the property. Also, a professional knows what to look for and how to properly develop an accurate and reliable component list. Now that we have “it”, what do we do with “it”? Hopefully, you will not look at this report and think it is too cumbersome to understand. Our intention is to make this Reserve Analysis very easy to read and understand. Please take the time to review it carefully and make sure the “main ingredients” (asset information) are complete and accurate. If there are any inaccuracies, please inform us immediately so we may revise the report. Once you feel the report is an accurate tool to work from, use it to help establish your budget for the upcoming fiscal year. The Reserve allocation makes up a significant portion of the total monthly dues and this report should help you determine the correct amount of money to go into the Reserve fund. Additionally, the Reserve Study should act as a guide to obtain proposals in advance of pending normal maintenance and replacement projects. This will give you an opportunity to shop around for the best price available. The Reserve Study should be readily available for Real Estate agents, brokerage firms, and lending institutions for potential future homeowners. As the importance of Reserves becomes more of a household term, people are requesting homeowners associations to reveal the strength of the Reserve fund prior to purchasing a condominium or townhome. How often do we update or review “it”? Unfortunately, there is a misconception that these reports are good for an extended period of time since the report has projections for the next 30 years. Just like any major line item in the budget, the Reserve Analysis should be reviewed each year before the budget is established. Invariably, some assumptions have to be made during the compilation of this analysis. Anticipated events may not materialize and unpredictable circumstances could occur. Aging rates and repair/replacement costs will vary from causes that are unforeseen. Earned interest rates may vary from year to year. These variations could alter the content of the Reserve Analysis. Therefore, this analysis should be reviewed annually, and a property observation should be conducted at least once every three years. Is it the law to have a Reserve Study conducted? The Government requires reserve analyses in approximately 20 states. The State of Colorado currently requires all associations to adopt a Reserve policy, but does not currently enforce a Reserve Study is completed. Despite enacting this current law, the chances are also very good the documents of the association require the association to have a Reserve fund established. This may not mean a Reserve Analysis is required, but how are you going to know there are enough funds in the account if you don’t have the proper information? Hypothetically, some associations look at the Reserve fund and think $50,000 is a lot of money and they are in good shape. What they don’t know is the roof will need to be replaced within 5 years, and the cost of the roof is going to exceed $75,000. So while $50,000 sounds like a lot of money, in reality it won’t even cover the cost of a roof, let alone all the other amenities the association is responsible to maintain.

3

What makes an asset a “Reserve” item versus an “Operating” item? A “Reserve” asset is an item that is the responsibility of the association to maintain, has a limited Useful Life, predictable Remaining Useful Life expectancies, typically occurs on a cyclical basis that exceeds 1 year, and costs above a minimum threshold cost. An “operating” expense is typically a fixed expense that occurs on an annual basis. For instance, minor repairs to a roof for damage caused by high winds or other weather elements would be considered an “operating” expense. However, if the entire roof needs to be replaced because it has reached the end of its life expectancy, then the replacement would be considered a Reserve expense. The GREY area of “maintenance” items that are often seen in a Reserve Study – One of the most popular questions revolves around major “maintenance” items, such as painting the buildings or seal coating the asphalt. You may hear from your accountant that since painting or seal coating is not replacing a “capital” item, then it cannot be considered a Reserve issue. However, it is the opinion of several major Reserve Study providers that these items are considered to be major expenses that occur on a cyclical basis. Therefore, it makes it very difficult to ignore a major expense that meets the criteria to be considered a Reserve component. Once explained in this context, many accountants tend to agree and will include any expenses, such as these examples, as a Reserve component. The Property Observation – The Property Observation was conducted following a review of the documents that were established by the developer identifying all common area assets. In some cases, the Board of Directors at some point may have revised the documents. In either case, the most current set of documents was reviewed prior to inspecting the property. In addition, common area assets may have been reported to Aspen Reserve Specialties by the client, or by other parties. Estimated life expectancies and life cycles are based upon conditions that were readily accessible and visible at the time of the observation. We did not destroy any landscape work, building walls, or perform any methods of intrusive investigation during the observation. In these cases, information may have been obtained by contacting the contractor or vendor that has worked on the property. The Reserve Fund Analysis – We projected the starting balance from taking the most recent balance statement, adding expected Reserve contributions for the rest of the year, and subtracting any pending projects for the rest of the year. We compared this number to the ideal Reserve Balance and arrived at the Percent funded level. Measures of strength are as follows: 0% - 30% Funded – Is considered to be a “weak” financial position. Associations that fall into this category are subject to Special Assessments and deferred maintenance, which could lead to lower property values. If the association is in this position, actions should be taken to improve the financial strength of the Reserve Fund. 31% - 69% Funded – The majority of associations are considered to be in this “fair” financial position. While this doesn’t represent financial strength and stability, the likelihood of Special Assessments and deferred maintenance is diminished. Effort should be taken to continue strengthening the financial position of the Reserve fund. 70% - 99% Funded – This indicates financial strength of a Reserve fund and every attempt to maintain this level should be a goal of the association. 100% Funded – This is the ideal amount of Reserve funding. This means that the association has the exact amount of funds in the Reserve account that should be at any given time.

4

Summary of Treehouse Condominiums- Association ID # - 08508 Reported Starting Balance as of March 1, 2013 - $1,041,157 Ideal Reserve Balance as of January 1, 2013 - $1,947,613 Percent Funded as of January 1, 2013 - 53% Recommended Reserve Allocation (per month) - $17,575 (for rest of 2013) Recommended Reserve Allocation (per month) - $28,800 (starting 2014) Minimum Reserve Allocation (per month) - $24,500 (starting 2014) Recommended Special Assessment - $0 Information to complete this Reserve Analysis was gathered during several property observations of the common area elements in November and December 2012, as well as a follow up site visit in January 2013. In addition, we obtained information by contacting local vendors and contractors, as well as communicating with the property representatives (Community Manager). To the best of our knowledge, the conclusions and suggestions of this report are considered reliable and accurate insofar as the information obtained from these sources. This property contains 249 condominium style units among 9 similar buildings that were originally constructed approximately 40 years ago in the mid 1970's. Two additional townhome styled buildings were constructed about 5 years ago in 2008. Common area amenities the association is responsible to maintain include building exterior surfaces, the interior surfaces and mechanical systems associated with the condominium buildings, two separate clubhouses with pools and spas, private driveways and parking lots, a tennis court, and a playground area. The on-site maintenance staff performs various tasks around the community that extends or eliminates the need for Reserve funding of various components. Please refer to the Projected Reserve Expenditure section of the Financial Analysis for a list of when components are scheduled to be addressed. In comparing the projected balance of $1,041,157 versus the ideal Reserve Balance of $1,947,613, we find the association Reserve fund to be in an average financial position at this point in time (approximately 53% funded of ideal). Based on the information contained in this report, we suggest keeping the Reserve contribution at the budgeted amount of $17,575 for the rest of 2013. However, in order to strengthen the Reserve account for future project consideration, a substantial increase will be necessary starting in 2014. If you refer to page 1 of the Financial Analysis section, you will see we are recommending an increase of the Reserve contribution to $28,800 (representing an increase of $45.08 per unit) per month starting January 2014. This should be followed by nominal annual increases of 4.50% thereafter to help offset the effects of inflation. By following the recommendation, the plan will increase the Reserve account to a fully funded position within the thirty-year period. In the percent Funded graph, you will see we have also provided a “minimum Reserve contribution” of $24,500 per month. If the Reserve contribution falls below this rate, then the Reserve fund will fall into a situation where additional Special Assessments, deferred maintenance, and lower property values are possible at some point in the future. The minimum Reserve allocation follows the “threshold” theory of Reserve funding where the ”percent funded” status is not allowed to dip below 30% funded at any point during the thirty-year period. This was provided for one purpose only, to show the association how small the difference is between the two scenarios and how it would not make financial sense to contribute less money (approximately $17.30 on average per unit per month in this case) to the Reserve fund to only stay above a certain threshold. As you can see, the difference between the two scenarios is considered to be minimal, and based on the risk involved, we strongly suggest the recommended Reserve Allocation is followed.

Client Reference #Client Reference #Client Reference #Client Reference # 8508850885088508Component Inventory for Common Area GroundsComponent Inventory for Common Area GroundsComponent Inventory for Common Area GroundsComponent Inventory for Common Area Grounds

Comp #: 401

Source of Information: Cost Database

Best Cost: $138,100$138,100$138,100$138,100

Worst Cost: $159,000$159,000$159,000$159,000

Location: Communit drives/parkingCommunit drives/parkingCommunit drives/parkingCommunit drives/parking

Quantity: 50% of 167,380 GSF50% of 167,380 GSF50% of 167,380 GSF50% of 167,380 GSF

Observations:

Majority of parking lots exhibit some moderate to substantial cracking. These cracks have been sealed, but continue to require maintenance on an annual basis to prevent them from worsening. In our observation, we determined about half of the parking lots to be in fair condition, and the other half to be in fair to poor condition. As a result, we split all asphalt surfaces into two different line items to resurface in two separate phases. This line item is for the first phase that should be done within the next 5 years.

Life Expectancy: 24242424 Remaining Life: 5555

$1.65/GSF; Est. to rotomill and 2" overlay

$1.90/GSF; Higher estimate for more repairs

Asphalt - Overlay (A)

General Notes:

Sunday, April 28, 2013Page 1 of 16


Comp #: 401


Best Cost: $138,100$138,100$138,100$138,100

Worst Cost: $159,000$159,000$159,000$159,000


Quantity: 50% of 167,380 GSF50% of 167,380 GSF50% of 167,380 GSF50% of 167,380 GSF

Observations:

Majority of parking lots exhibit some moderate to substantial cracking. These cracks have been sealed, but continue to require maintenance on an annual basis to prevent them from worsening. In our observation, we determined about half of the parking lots to be in fair condition, and the other half to be in fair to poor condition. As a result, we split all asphalt surfaces into two different line items to resurface in two separate phases. This line item is for the first phase that should be done within the next 5 - 10 years.


$1.65/GSF; Est. to rotomill and 2" overlay

$1.90/GSF; Higher estimate for more repairs

Asphalt - Overlay (B)

General Notes:



Comp #: 402


Best Cost: $26,800$26,800$26,800$26,800

Worst Cost: $33,500$33,500$33,500$33,500


Quantity: Approx. 167,380 GSFApprox. 167,380 GSFApprox. 167,380 GSFApprox. 167,380 GSF

Observations:

Asphalt seal coat is generally in fair to poor condition and should be sealed this fiscal year. Noted significant cracking throughout asphalt surface. No pot holes or structural problems noted. Typically asphalt surfaces should be sealed every 3 to 4 years depending on traffic to protect asphalt surface.


$.16/GSF; Estimate for seal coat only

$.20/GSF; Higher est. includes repairs/crack fill

Asphalt - Seal Coat/crack fill

General Notes:



Comp #: 607

Source of Information:

Best Cost: $0$0$0$0

Worst Cost: $0$0$0$0

Location: Throughout communityThroughout communityThroughout communityThroughout community

Quantity: See General NotesSee General NotesSee General NotesSee General Notes

Observations:

It was reported these are repaired on an as needed basis by the on site maintenance staff with general operating funds. Therefore, separate Reserve funding is not required for this component at this time.

Life Expectancy: N/AN/AN/AN/A Remaining Life:

Wood Paths - Replace

General Notes:

wood paths - 19,855 GSFwood paths - 19,855 GSFwood paths - 19,855 GSFwood paths - 19,855 GSFrailing - 3,885 GSFrailing - 3,885 GSFrailing - 3,885 GSFrailing - 3,885 GSF

tie steps - 96tie steps - 96tie steps - 96tie steps - 96



Comp #: 610


Best Cost: $0$0$0$0



Quantity: Approx. 328 GSFApprox. 328 GSFApprox. 328 GSFApprox. 328 GSF

Observations:

These stair treads have an indefinite life expectancy under normal conditions. As a result, there is no expectancy to replace all of these at the same time. Therefore, we suggest replacing on an as needed basis with general operating funds and repairing the handrails by on-site maintenance staff.


Steel Stairs/Landings - Replace

General Notes:

Bldg. I - Bldg. I - Bldg. I - Bldg. I - treads - (10) 8' wide, landing - 65 GSF, rail - 46 LF treads - (10) 8' wide, landing - 65 GSF, rail - 46 LF treads - (10) 8' wide, landing - 65 GSF, rail - 46 LF treads - (10) 8' wide, landing - 65 GSF, rail - 46 LFBldg. H - Bldg. H - Bldg. H - Bldg. H - treads - (8) 8' wide, rail - 20 LF treads - (8) 8' wide, rail - 20 LF treads - (8) 8' wide, rail - 20 LF treads - (8) 8' wide, rail - 20 LFBldg. G - Bldg. G - Bldg. G - Bldg. G - treads - (6) 8' wide, rail - 20 LF treads - (6) 8' wide, rail - 20 LF treads - (6) 8' wide, rail - 20 LF treads - (6) 8' wide, rail - 20 LFBldg. F - Bldg. F - Bldg. F - Bldg. F - treads - (11) 8' wide (stringers rotting) treads - (11) 8' wide (stringers rotting) treads - (11) 8' wide (stringers rotting) treads - (11) 8' wide (stringers rotting)Bldg. E - Bldg. E - Bldg. E - Bldg. E - treads - (7) 8' wide treads - (7) 8' wide treads - (7) 8' wide treads - (7) 8' wide



Comp #: 611

Source of Information: Research on website

Best Cost: $4,250$4,250$4,250$4,250

Worst Cost: $5,000$5,000$5,000$5,000


Quantity: Approx. (194) matsApprox. (194) matsApprox. (194) matsApprox. (194) mats

Observations:

The cost of these mats (about $70 each + tax and delivery) is too small if replacement occurred on an individual basis. Due to the overall quantity of the mats, we recommend establishing a Reserve allowance to replace 25% of the mats (about 50) every 4 years. By replacing multiple mats at the same time, the association will save money by purchasing bulk amounts of mats. The conditions vary throughout the community and as a result, it is unlikely every mat would be replaced at the same time.


Estimate to replace 50 mats every 4 years

Higher estimate for better quality mat

Slip Resistant Mats - Replace

General Notes:

Common areas - (74) 5x3 matsCommon areas - (74) 5x3 matsCommon areas - (74) 5x3 matsCommon areas - (74) 5x3 matsaround clubhouse - (18) 5x3 matsaround clubhouse - (18) 5x3 matsaround clubhouse - (18) 5x3 matsaround clubhouse - (18) 5x3 mats

bldg. A - (24) 5x3 matsbldg. A - (24) 5x3 matsbldg. A - (24) 5x3 matsbldg. A - (24) 5x3 matsbldg. B - (23) 5x3 matsbldg. B - (23) 5x3 matsbldg. B - (23) 5x3 matsbldg. B - (23) 5x3 matsbldg. C - (29) 5x3 matsbldg. C - (29) 5x3 matsbldg. C - (29) 5x3 matsbldg. C - (29) 5x3 matsbldg. D - (10) 5x3 matsbldg. D - (10) 5x3 matsbldg. D - (10) 5x3 matsbldg. D - (10) 5x3 matsbldg. H - (11) 5x3 matsbldg. H - (11) 5x3 matsbldg. H - (11) 5x3 matsbldg. H - (11) 5x3 matsbldg. E - (5) 5x3 matsbldg. E - (5) 5x3 matsbldg. E - (5) 5x3 matsbldg. E - (5) 5x3 mats



Comp #: 622


Best Cost: $0$0$0$0


Location: Near bldg INear bldg INear bldg INear bldg I

Quantity: See general notesSee general notesSee general notesSee general notes

Observations:

No need for separate Reserve funding for this component. Replace and maintain at the same time as other building components.


Covered Stairway - Replace

General Notes:

roof - approx. 125 GSFroof - approx. 125 GSFroof - approx. 125 GSFroof - approx. 125 GSFsiding - approx. 440 GSFsiding - approx. 440 GSFsiding - approx. 440 GSFsiding - approx. 440 GSFmetal stairs - (8) treads (4' wide)metal stairs - (8) treads (4' wide)metal stairs - (8) treads (4' wide)metal stairs - (8) treads (4' wide)



Comp #: 801


Best Cost: $4,500$4,500$4,500$4,500

Worst Cost: $5,750$5,750$5,750$5,750

Location: Adjacent to main clubhouseAdjacent to main clubhouseAdjacent to main clubhouseAdjacent to main clubhouse


Observations:

Wood is starting to show signs of age and minor deterioration. Some minor prep work and a new coat of paint will extend the life of the sign. Therefore, we are recommending the on site maintenance staff repaints the sign to protect the wood against any deterioration to the materials. In order to maintain an appropriate appearance for the community, most associations are upgrading monuments to establish a modern appearance. We realize this may be a discretionary expense decided by the Board, but we strongly recommend some funds are set aside for eventual upgrades to the signage.


Estimate to replace sign

Higher estimate for major repairs to stone work

Identification Sign - Replace

General Notes:

wood sign - 9x3, 2 sided (peeling paint)wood sign - 9x3, 2 sided (peeling paint)wood sign - 9x3, 2 sided (peeling paint)wood sign - 9x3, 2 sided (peeling paint)stone wall - approx. 75 GSFstone wall - approx. 75 GSFstone wall - approx. 75 GSFstone wall - approx. 75 GSF(2) kim lights(2) kim lights(2) kim lights(2) kim lights



Comp #: 1003


Best Cost: $12,600$12,600$12,600$12,600

Worst Cost: $14,400$14,400$14,400$14,400

Location: Tennis CourtsTennis CourtsTennis CourtsTennis Courts

Quantity: Approx. 360 LFApprox. 360 LFApprox. 360 LFApprox. 360 LF

Observations:

The tennis court fence is generally in fair to poor condition with bent and leaning sections observed. Local repairs should be completed as part of the tennis court refurbishment project. Reserve funding has been established to replace the chain link only every 30 years. If the need exists to include post repairs/replacement, the total fence replacement would cost about $60 - $75 per post.


$35/LF; Estimate to replace

$40/LF: Higher estimate

Chain Link Fencing - Replace

General Notes:

Fence is 10' tall chain link, no windscreen at time of Fence is 10' tall chain link, no windscreen at time of Fence is 10' tall chain link, no windscreen at time of Fence is 10' tall chain link, no windscreen at time of observation.observation.observation.observation.



Comp #: 1201


Best Cost: $57,500$57,500$57,500$57,500

Worst Cost: $65,000$65,000$65,000$65,000

Location: Tennis courtTennis courtTennis courtTennis court

Quantity: (1) court(1) court(1) court(1) court

Observations:

The court is considered to be unplayable at this time with severe cracking and loss of surface noted. Most tennis courts are being replaced with a post tension court that are expected to last 40+ years, even in this climate. As long as this asset remains in the community, we are obligated to Reserve for general maintenance and renovation of this component. Based on observed conditions, we recommend the association address this component in the near future to restore the court back to functional conditions.


Estimate to replace with post tension

Higher estimate for more labor

Tennis Court Asphalt - Replace

General Notes:



Comp #: 1202


Best Cost: $6,000$6,000$6,000$6,000

Worst Cost: $6,750$6,750$6,750$6,750

Location: Tennis courtTennis courtTennis courtTennis court


Observations:

Tennis court is generally in poor condition with significant cracking and loss of coating noted throughout. Based on observed condition, we recommend resurfacing or replacing the court this year to restore court back to functional conditions. Depending on the level of use, expect to recoat every 6 - 8 years assuming normal use and wear.


Estimate to crack fill, repaint/coat

Higher estimate for some minor repairs

Tennis Court - Recoat/Paint

General Notes:



Comp #: 1301


Best Cost: $39,000$39,000$39,000$39,000

Worst Cost: $46,000$46,000$46,000$46,000

Location: Common areasCommon areasCommon areasCommon areas

Quantity: (1) play structure(1) play structure(1) play structure(1) play structure

Observations:

Structures were new and stable and in good condition at time of site observation with no major signs of abuse, mistreatment, or vandalism at time of field work. Depending on overall level of use, quality, and care, the average life expectancy for play equipment ranges from 12 - 18 years. The remaining life is based on the age of the system and the observed conditions.


Estimate to replace and install with similar type

Higher estimate for larger structure

Play Equipment - Replace

General Notes:

NOTE: playground installed in 2011NOTE: playground installed in 2011NOTE: playground installed in 2011NOTE: playground installed in 2011

Play structure components - Play structure components - Play structure components - Play structure components - monkey bars, side-by-side slide, 10' wavy slide, monkey bars, side-by-side slide, 10' wavy slide, monkey bars, side-by-side slide, 10' wavy slide, monkey bars, side-by-side slide, 10' wavy slide, geodesic climber, 2 sets of stairs, 2 platforms, geodesic climber, 2 sets of stairs, 2 platforms, geodesic climber, 2 sets of stairs, 2 platforms, geodesic climber, 2 sets of stairs, 2 platforms, fire pole, shade canopy fire pole, shade canopy fire pole, shade canopy fire pole, shade canopySwingset - Swingset - Swingset - Swingset - trees used for posts, wood cross-beam. trees used for posts, wood cross-beam. trees used for posts, wood cross-beam. trees used for posts, wood cross-beam. (2) saddle swings (2) saddle swings (2) saddle swings (2) saddle swings



Comp #: 1306


Best Cost: $2,500$2,500$2,500$2,500

Worst Cost: $3,000$3,000$3,000$3,000


Quantity: (14) Assorted pieces(14) Assorted pieces(14) Assorted pieces(14) Assorted pieces

Observations:

Conditions and ages range throughout the community. The benches at the park area are new, while there are older picnic tables where the wood is beginning to splinter. This line item is set up to establish an allowance to periodically replace the needed furnishings every 5 years. The remaining life is based on the new equipment and the fact there is no need for immediate replacement at this time.


Allowance to replace the needed furnishings

Higher estimate for more pieces

Park Furnishings - Replace

General Notes:

Tables:Tables:Tables:Tables:playground area - (1) picnic tableplayground area - (1) picnic tableplayground area - (1) picnic tableplayground area - (1) picnic tablepicnic area btwn G & H - (2) picnic tablespicnic area btwn G & H - (2) picnic tablespicnic area btwn G & H - (2) picnic tablespicnic area btwn G & H - (2) picnic tables

Benches:Benches:Benches:Benches:playground area - (2) 8' benches (2012)playground area - (2) 8' benches (2012)playground area - (2) 8' benches (2012)playground area - (2) 8' benches (2012)picnic area btwn G & H - (1) bench (log)picnic area btwn G & H - (1) bench (log)picnic area btwn G & H - (1) bench (log)picnic area btwn G & H - (1) bench (log)

Trash:Trash:Trash:Trash:common area - (2) receptacles (pebbled)common area - (2) receptacles (pebbled)common area - (2) receptacles (pebbled)common area - (2) receptacles (pebbled)playground area - (3) receptacles (1 new)playground area - (3) receptacles (1 new)playground area - (3) receptacles (1 new)playground area - (3) receptacles (1 new)picnic are btwn G & H - (3) receptaclespicnic are btwn G & H - (3) receptaclespicnic are btwn G & H - (3) receptaclespicnic are btwn G & H - (3) receptacles



Comp #: 1311


Best Cost: $0$0$0$0


Location: Throughout common areasThroughout common areasThroughout common areasThroughout common areas

Quantity: Approx. (12) stationsApprox. (12) stationsApprox. (12) stationsApprox. (12) stations

Observations:

No unusual conditions observed during field observation. The individual replacement cost of these stations (less than $550 each) is too small for Reserve consideration. Therefore, we recommend replacing these on an as needed basis with general operating funds.


Pet Waste Stations - Replace

General Notes:

near bldg A - (1) stationnear bldg A - (1) stationnear bldg A - (1) stationnear bldg A - (1) stationnear bldg C - (1) stationnear bldg C - (1) stationnear bldg C - (1) stationnear bldg C - (1) stationnear bldg H - (1) stationnear bldg H - (1) stationnear bldg H - (1) stationnear bldg H - (1) stationnear bldg G - (1) stationnear bldg G - (1) stationnear bldg G - (1) stationnear bldg G - (1) stationnear bldg F - (1) stationnear bldg F - (1) stationnear bldg F - (1) stationnear bldg F - (1) stationcommon areas - (7) stationscommon areas - (7) stationscommon areas - (7) stationscommon areas - (7) stations



Comp #: 1423


Best Cost: $5,500$5,500$5,500$5,500

Worst Cost: $6,250$6,250$6,250$6,250

Location: ClubhousesClubhousesClubhousesClubhouses

Quantity: (2) units(2) units(2) units(2) units

Observations:

Direct access to the managers unit was not available at time of our field work. We have established this line item for periodic upgrades and replacement to the necessary items in the managers unit every 4 years. The cycle and amount were determined by the on-site manager and ourselves at the time of our initial meeting.


Allowance to replace needed components

Higher allowance for more repalcement

Manager's Units - Remodel

General Notes:



Comp #: 1604


Best Cost: $5,950$5,950$5,950$5,950

Worst Cost: $7,000$7,000$7,000$7,000

Location: Throughout common areasThroughout common areasThroughout common areasThroughout common areas

Quantity: Approx. (14) fixturesApprox. (14) fixturesApprox. (14) fixturesApprox. (14) fixtures

Observations:

No structural problems noted with lights at the time of inspection. One of the fixtures was still on during daylight hours. We recommend painting the poles regularly to protect the wood materials from deterioration (this should be done at the same time as the building exteriors for best cost estimate and to match the same color as the buildings). Expect to replace the fixtures (not posts) every 25 - 30 years to maintain appearance and function.


$425/fixture; Estimate to replace

Higher estimate for better quality fixture

Pole Lights - Replace

General Notes:

near bldg A - (1) fixturenear bldg A - (1) fixturenear bldg A - (1) fixturenear bldg A - (1) fixturenear bldg C - (2) fixturesnear bldg C - (2) fixturesnear bldg C - (2) fixturesnear bldg C - (2) fixturescommon areas - (11) fixturescommon areas - (11) fixturescommon areas - (11) fixturescommon areas - (11) fixtures


Client Reference #Client Reference #Client Reference #Client Reference # 8508850885088508Component Inventory for Buildings A - IComponent Inventory for Buildings A - IComponent Inventory for Buildings A - IComponent Inventory for Buildings A - I

Comp #: 105

Source of Information: Research with contractor

Best Cost: $220,500$220,500$220,500$220,500

Worst Cost: $249,900$249,900$249,900$249,900

Location: Three of the 9-unit building roofsThree of the 9-unit building roofsThree of the 9-unit building roofsThree of the 9-unit building roofs

Quantity: Approx. 294 squaresApprox. 294 squaresApprox. 294 squaresApprox. 294 squares

Observations:

Direct access to the roofs were not available at time of field work due to time constraints and follow up observations took place during winter months. It was reported the roofs vary in age from 7 - 14 years old. The average life expectancy for these types of roofs range between 17 - 20 years, depending on the level of maintenance and the quality of the roof. We have phased out the replacement based on average age of the roofs, replacing 3 building roofs in each phase. This line item is for the first phase of 3 buildings to be replaced.


$750/square; Estimate to remove and replace

$850/square; Higher estimate for more labor costs

Modified Bitumen - Replace (1)

General Notes:

Approx. 98 sqs per building x 3 bldgs = 294 sqsApprox. 98 sqs per building x 3 bldgs = 294 sqsApprox. 98 sqs per building x 3 bldgs = 294 sqsApprox. 98 sqs per building x 3 bldgs = 294 sqs

Sunday, August 11, 2013Page 1 of 30


Comp #: 105


Best Cost: $220,500$220,500$220,500$220,500

Worst Cost: $249,900$249,900$249,900$249,900



Observations:

Direct access to the roofs were not available at time of field work due to time constraints and follow up observations took place during winter months. It was reported the roofs vary in age from 7 - 14 years old. The average life expectancy for these types of roofs range between 17 - 20 years, depending on the level of maintenance and the quality of the roof. We have phased out the replacement based on average age of the roofs, replacing 3 building roofs in each phase. This line item is for the final phase of 3 buildings to be replaced.





General Notes:

Approx. 98 sqs per buildings x 3 bldgs = 294 sqsApprox. 98 sqs per buildings x 3 bldgs = 294 sqsApprox. 98 sqs per buildings x 3 bldgs = 294 sqsApprox. 98 sqs per buildings x 3 bldgs = 294 sqs



Comp #: 105


Best Cost: $220,500$220,500$220,500$220,500

Worst Cost: $249,900$249,900$249,900$249,900



Observations:

Direct access to the roofs were not available at time of field work due to time constraints and follow up observations took place during winter months. It was reported the roofs vary in age from 7 - 14 years old. The average life expectancy for these types of roofs range between 17 - 20 years, depending on the level of maintenance and the quality of the roof. We have phased out the replacement based on average age of the roofs, replacing 3 building roofs in each phase. This line item is for the second phase of 3 buildings to be replaced.





General Notes:

Approx. 98 sqs per buildings x 3 bldgs = 294 sqsApprox. 98 sqs per buildings x 3 bldgs = 294 sqsApprox. 98 sqs per buildings x 3 bldgs = 294 sqsApprox. 98 sqs per buildings x 3 bldgs = 294 sqs



Comp #: 123


Best Cost: $12,000$12,000$12,000$12,000

Worst Cost: $15,000$15,000$15,000$15,000


Quantity: (12) 6x6 lights(12) 6x6 lights(12) 6x6 lights(12) 6x6 lights

Observations:

No unusual conditions reported with the skylights at the time of preparing this report. Typically, skylights are replaced or major repairs are performed at the same time as roof replacement. It has been advised by industry professionals that we include funding to address skylights at this time.


$1000/skylight; Estimate to replace

$1250/skylight; Higher estimate for more labor

Skylights - Replace (1)

General Notes:



Comp #: 123


Best Cost: $12,000$12,000$12,000$12,000

Worst Cost: $15,000$15,000$15,000$15,000



Observations:






General Notes:



Comp #: 204

Source of Information: Research with contractors

Best Cost: $130,500$130,500$130,500$130,500

Worst Cost: $153,000$153,000$153,000$153,000

Location: Siding, trim, railings, etc.Siding, trim, railings, etc.Siding, trim, railings, etc.Siding, trim, railings, etc.

Quantity: (9) Condo Buildings(9) Condo Buildings(9) Condo Buildings(9) Condo Buildings

Observations:

Paint exhibited some signs of fading and minor peeling in various locations at the time of our field observations. It was reported these were last painted in 2011. In this climate, we recommend painting every 4 - 5 years to protect the wood from premature deterioration and damage. The remaining life is based on the age of the painted surfaces and the overall conditions.


$14500/building; Estimate to repaint

$17000/building; Higher estimate for more prep work

Building Ext Surfaces - Repaint

General Notes:



Comp #: 301


Best Cost: $45,000$45,000$45,000$45,000

Worst Cost: $54,000$54,000$54,000$54,000

Location: Unit building exterior claddingUnit building exterior claddingUnit building exterior claddingUnit building exterior cladding


Observations:

At time of field work, we observed some loose and warped boards that will need to be repaired prior to painting. There were also some split boards and loose railing pickets noted as well. Based on observed conditions and the age of the buildings, we recommend including an allowance for periodic repairs prior to each painting cycle.


$5000/bldg; Allowance for major repairs

Higher allowance for more repairs

Wood Siding - Major Repairs

General Notes:

Approx. 22,260 GSF per buildingApprox. 22,260 GSF per buildingApprox. 22,260 GSF per buildingApprox. 22,260 GSF per building



Comp #: 501


Best Cost: $20,250$20,250$20,250$20,250

Worst Cost: $22,300$22,300$22,300$22,300

Location: Unit buildings A - IUnit buildings A - IUnit buildings A - IUnit buildings A - I

Quantity: (81) Common doors(81) Common doors(81) Common doors(81) Common doors

Observations:

Conditions of doors varied from building to building. Most are functional, but have a poor appearance with dings and dents noted throughout. The declarations do not clearly state who is responsible for the unit doors, but in most associations, the windows and doors are owner responsibility. So, funding for unit doors is not included as part of this Reserve plan. Due to varying conditions and levels of use, Reserve to replace 1/3rd of the doors every 8 years.


Allowance to replace 27 doors every 8 years

Higher estimate for more

Doors - Partial Replacement

General Notes:

Unit buildings A - I common area doors - Unit buildings A - I common area doors - Unit buildings A - I common area doors - Unit buildings A - I common area doors - (9) 3x7 per building x 9 buildings = (81) doors (9) 3x7 per building x 9 buildings = (81) doors (9) 3x7 per building x 9 buildings = (81) doors (9) 3x7 per building x 9 buildings = (81) doors

(245) unit doors(245) unit doors(245) unit doors(245) unit doors



Comp #: 506


Best Cost: $0$0$0$0



Quantity: Approx. (490) openingsApprox. (490) openingsApprox. (490) openingsApprox. (490) openings

Observations:

Declarations are not clear as to who is responsible for the unit windows. Typically, windows are the responsibility of each individual owner. Therefore, separate Reserve funding is not required for this component at this time.


Unit Windows - Replace

General Notes:

(245) - windows (245) - windows (245) - windows (245) - windows (245) - 6x7 sliders(245) - 6x7 sliders(245) - 6x7 sliders(245) - 6x7 sliders



Comp #: 606


Best Cost: $0$0$0$0



Quantity: Approx. 8,775 LFApprox. 8,775 LFApprox. 8,775 LFApprox. 8,775 LF

Observations:

Funding for repairs is included with building siding repairs. Therefore, separate funding requirements are not needed for this component.


Deck Railings - Replace

General Notes:

Approx. 975 LF per building x 9 buildings = 8,775 LFApprox. 975 LF per building x 9 buildings = 8,775 LFApprox. 975 LF per building x 9 buildings = 8,775 LFApprox. 975 LF per building x 9 buildings = 8,775 LF



Comp #: 607

Source of Information: Cost database

Best Cost: $12,000$12,000$12,000$12,000

Worst Cost: $15,000$15,000$15,000$15,000

Location: Unit deckingUnit deckingUnit deckingUnit decking


Observations:

Direct access to decks was not available due to privacy reasons. Overall life expectancy will depend on the level of use and care on each unit. We have established Reserve funding for periodic repairs every other painting and building repair cycle in order to maintain appropriate conditions and safety for all unit decks.


Allowance for general repairs every 10 years


Wood Deck - Major Repairs

General Notes:

Approx. 1,120 GSF per building x 9 buildings = Approx. 1,120 GSF per building x 9 buildings = Approx. 1,120 GSF per building x 9 buildings = Approx. 1,120 GSF per building x 9 buildings = 10,080 GSF 10,080 GSF 10,080 GSF 10,080 GSF



Comp #: 701


Best Cost: $8,000$8,000$8,000$8,000

Worst Cost: $10,000$10,000$10,000$10,000

Location: Building CBuilding CBuilding CBuilding C

Quantity: (2) boilers(2) boilers(2) boilers(2) boilers

Observations:

Due to the expected level of use these systems will receive, major renovations will need to occur every 4 - 5 years. According to manufacturer, these units typically do not require complete replacement. However, it is possible that parts will eventually become obsolete and with advances in technology, replacement may become necessary at some point in the next 20+ years. Following a good preventative maintenance program will extend the life of the boilers another 10 - 15 years. This line item is for major rebuilding of boiler components every 5 years. See item #702 for replacement.


Allowance for major repairs and some rebuilding

Higher allowance for more parts

Boilers - Major Repairs (Bldg C)

General Notes:

building C - (2) Multi-Temp Hydrotherm boilersbuilding C - (2) Multi-Temp Hydrotherm boilersbuilding C - (2) Multi-Temp Hydrotherm boilersbuilding C - (2) Multi-Temp Hydrotherm boilers (no visible labels) (no visible labels) (no visible labels) (no visible labels)



Comp #: 701


Best Cost: $36,000$36,000$36,000$36,000

Worst Cost: $42,000$42,000$42,000$42,000

Location: Building HBuilding HBuilding HBuilding H


Observations:

Boilers were replaced about 5 years ago and still appear to be in good condition. According to current service contractor, they did not perform any major repairs on these boilers this past winter. Therefore, we assume there are no problems with these units. In our experience, we typically see these types of boilers last 17 - 20 years, depending on the level of maintenance and the quality of the water running through the system. Remaining life is based on age of units.


$18000/boiler; Estimate to replace

$21000/boiler; Higher estimate for more labor

Boilers - Replace (Bldg H)

General Notes:

building H - (2) Raypak boilersbuilding H - (2) Raypak boilersbuilding H - (2) Raypak boilersbuilding H - (2) Raypak boilers m/n: H3-0824, m/n: H3-0824, m/n: H3-0824, m/n: H3-0824, s/n: (a) 0811289693 (b) 0808286814 s/n: (a) 0811289693 (b) 0808286814 s/n: (a) 0811289693 (b) 0808286814 s/n: (a) 0811289693 (b) 0808286814 825,000 BTU in 825,000 BTU in 825,000 BTU in 825,000 BTU in



Comp #: 701


Best Cost: $140,000$140,000$140,000$140,000

Worst Cost: $160,000$160,000$160,000$160,000

Location: Unit buildings A, B, D, E, F, G, IUnit buildings A, B, D, E, F, G, IUnit buildings A, B, D, E, F, G, IUnit buildings A, B, D, E, F, G, I


Observations:

Due to the expected level of use these systems will receive, major renovations will need to occur every 5 - 7 years. According to manufacturer, these units typically do not require complete replacement. However, it is possible that parts will eventually become obsolete (currently there are Burnham and generic parts available) and with advances in technology, replacement may become necessary at some point in the next 20+ years. Following a good preventative maintenance program will extend the life of the boilers another 10 - 15 years. This line item is for major rebuilding of boiler components every 7 years. See item #702 for replacement.


Allowance for major rebuilding every 7 years

Higher allowance for more parts

Boilers - Major Repairs

General Notes:

Building A - (4) Burnham boilersBuilding A - (4) Burnham boilersBuilding A - (4) Burnham boilersBuilding A - (4) Burnham boilers m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU inBuilding B - (4) Burnham boilersBuilding B - (4) Burnham boilersBuilding B - (4) Burnham boilersBuilding B - (4) Burnham boilers m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU inBuilding D - (4) Burnham boilersBuilding D - (4) Burnham boilersBuilding D - (4) Burnham boilersBuilding D - (4) Burnham boilers m/n: #809, 528,000 BTU in m/n: #809, 528,000 BTU in m/n: #809, 528,000 BTU in m/n: #809, 528,000 BTU inBuilding E - (4) Burnham boilersBuilding E - (4) Burnham boilersBuilding E - (4) Burnham boilersBuilding E - (4) Burnham boilers m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU inBuilding F - (4) Burnham boilersBuilding F - (4) Burnham boilersBuilding F - (4) Burnham boilersBuilding F - (4) Burnham boilers m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU inBuilding G - (4) Burnham boilersBuilding G - (4) Burnham boilersBuilding G - (4) Burnham boilersBuilding G - (4) Burnham boilers m/n: 8096-WI, 528,000 BTU in m/n: 8096-WI, 528,000 BTU in m/n: 8096-WI, 528,000 BTU in m/n: 8096-WI, 528,000 BTU inBuilding I - (4) Burnham boilersBuilding I - (4) Burnham boilersBuilding I - (4) Burnham boilersBuilding I - (4) Burnham boilers m/n:809B-W, 528,000 BTU in m/n:809B-W, 528,000 BTU in m/n:809B-W, 528,000 BTU in m/n:809B-W, 528,000 BTU in



Comp #: 701


Best Cost: $164,400$164,400$164,400$164,400

Worst Cost: $178,800$178,800$178,800$178,800

Location: Unit buildings G, IUnit buildings G, IUnit buildings G, IUnit buildings G, I


Observations:

Due to the expected level of use these systems will receive, major renovations will need to occur every 4 - 5 years. According to manufacturer, these units typically do not require complete replacement. However, parts eventually become obsolete after numerous years and with advances in technology, replacement may become necessary at some point in the next 30+ years. This line item is for major complete replacement of boiler every 35 years. Cost of rebuilding should be added to this line item for complete replacement cost. Per the request of the client, we split the replacement to occur over a three year period to spread out the expense of this project.


Estimate to replace boilers


Boilers - Replace (G,I)

General Notes:

Building G - (4) Burnham boilersBuilding G - (4) Burnham boilersBuilding G - (4) Burnham boilersBuilding G - (4) Burnham boilers m/n: 8096-WI, 528,000 BTU in m/n: 8096-WI, 528,000 BTU in m/n: 8096-WI, 528,000 BTU in m/n: 8096-WI, 528,000 BTU inBuilding I - (4) Burnham boilersBuilding I - (4) Burnham boilersBuilding I - (4) Burnham boilersBuilding I - (4) Burnham boilers m/n:809B-W, 528,000 BTU in m/n:809B-W, 528,000 BTU in m/n:809B-W, 528,000 BTU in m/n:809B-W, 528,000 BTU in



Comp #: 701


Best Cost: $246,600$246,600$246,600$246,600

Worst Cost: $268,200$268,200$268,200$268,200

Location: Unit buildings A, B, DUnit buildings A, B, DUnit buildings A, B, DUnit buildings A, B, D


Observations:





Boilers - Replace (A,B,D)

General Notes:

Building A - (4) Burnham boilersBuilding A - (4) Burnham boilersBuilding A - (4) Burnham boilersBuilding A - (4) Burnham boilers m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU inBuilding B - (4) Burnham boilersBuilding B - (4) Burnham boilersBuilding B - (4) Burnham boilersBuilding B - (4) Burnham boilers m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU inBuilding D - (4) Burnham boilersBuilding D - (4) Burnham boilersBuilding D - (4) Burnham boilersBuilding D - (4) Burnham boilers m/n: #809, 528,000 BTU in m/n: #809, 528,000 BTU in m/n: #809, 528,000 BTU in m/n: #809, 528,000 BTU in



Comp #: 701


Best Cost: $164,400$164,400$164,400$164,400

Worst Cost: $178,800$178,800$178,800$178,800

Location: Unit buildings E, FUnit buildings E, FUnit buildings E, FUnit buildings E, F


Observations:





Boilers - Replace (E,F)

General Notes:

Building E - (4) Burnham boilersBuilding E - (4) Burnham boilersBuilding E - (4) Burnham boilersBuilding E - (4) Burnham boilers m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU inBuilding F - (4) Burnham boilersBuilding F - (4) Burnham boilersBuilding F - (4) Burnham boilersBuilding F - (4) Burnham boilers m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in m/n: 809B-WI, 528,000 BTU in



Comp #: 702


Best Cost: $85,000$85,000$85,000$85,000

Worst Cost: $100,000$100,000$100,000$100,000

Location: Building CBuilding CBuilding CBuilding C


Observations:

Due to the expected level of use these systems will receive, major renovations will need to occur every 4 - 5 years. According to manufacturer, these units typically do not require complete replacement. However, parts eventually become obsolete after numerous years and with advances in technology, replacement may become necessary at some point in the next 30+ years. This line item is for major complete replacement of boiler every 35 years. Cost of rebuilding should be added to this line item for complete replacement cost.


Estimate to replace


Boilers - Replace (Bldg C)

General Notes:

building C - (2) Multi-Temp Hydrotherm boilersbuilding C - (2) Multi-Temp Hydrotherm boilersbuilding C - (2) Multi-Temp Hydrotherm boilersbuilding C - (2) Multi-Temp Hydrotherm boilers (no visible labels) (no visible labels) (no visible labels) (no visible labels)



Comp #: 703


Best Cost: $32,000$32,000$32,000$32,000

Worst Cost: $36,000$36,000$36,000$36,000

Location: Buildings C & D mechanical roomsBuildings C & D mechanical roomsBuildings C & D mechanical roomsBuildings C & D mechanical rooms

Quantity: (4) Assorted tanks(4) Assorted tanks(4) Assorted tanks(4) Assorted tanks

Observations:

No unusual conditions noted on storage tanks at time of site visit. Dates vary from building to building. These tanks were purchased and installed in 2006. We have separated out the storage tanks based on the date they were installed. In our experience, we have seen the need to replace storage tanks on the average of 10 - 15 years, depending on the quality of the tank, the liner, and the quality of the water running through the system. It was reported the water in this area is "hard", which impacts the life expectancy of the tank. Also, these tanks need to be ASME approved, therefore, the reason for the higher cost. The remaining life is based on the age of the units.


$8000/tank; Estimate to replace

$9000/heater; Higher estimate for more labor

Hot Water Storage Tank - Replace (06)

General Notes:

building C - (2) Bradford Whitebuilding C - (2) Bradford Whitebuilding C - (2) Bradford Whitebuilding C - (2) Bradford White m/n: M38ST120R5, date: 2006 m/n: M38ST120R5, date: 2006 m/n: M38ST120R5, date: 2006 m/n: M38ST120R5, date: 2006

building D - (2) Bradford Whitebuilding D - (2) Bradford Whitebuilding D - (2) Bradford Whitebuilding D - (2) Bradford White m/n: M3ST120RS, date: 2006 m/n: M3ST120RS, date: 2006 m/n: M3ST120RS, date: 2006 m/n: M3ST120RS, date: 2006



Comp #: 703


Best Cost: $24,000$24,000$24,000$24,000

Worst Cost: $27,000$27,000$27,000$27,000

Location: Buildings B & I mechanical roomsBuildings B & I mechanical roomsBuildings B & I mechanical roomsBuildings B & I mechanical rooms


Observations:

No unusual conditions noted on storage tanks at time of site visit. Dates vary from building to building. We have separated out the storage tanks based on the date they were installed. These tanks were purchased and installed from 2009 through 2011. In our experience, we have seen the need to replace storage tanks on the average of 10 - 15 years, depending on the quality of the tank, the liner, and the quality of the water running through the system. It was reported the water in this area is "hard", which impacts the life expectancy of the tank. Also, these tanks need to be ASME approved, therefore, the reason for the higher cost. The remaining life is based on the average age of these units.




Hot Water Storage Tank - Replace (09, 10, 11)

General Notes:

building B - (1) Statebuilding B - (1) Statebuilding B - (1) Statebuilding B - (1) State m/n: PVG01200OVT, date: 2009 m/n: PVG01200OVT, date: 2009 m/n: PVG01200OVT, date: 2009 m/n: PVG01200OVT, date: 2009 (1) Bradford White, m/n: M3ST120R5A (1) Bradford White, m/n: M3ST120R5A (1) Bradford White, m/n: M3ST120R5A (1) Bradford White, m/n: M3ST120R5A

building I - (2) State building I - (2) State building I - (2) State building I - (2) State m/n: PVG01200OVT, 2010 and 2011 m/n: PVG01200OVT, 2010 and 2011 m/n: PVG01200OVT, 2010 and 2011 m/n: PVG01200OVT, 2010 and 2011



Comp #: 703


Best Cost: $32,000$32,000$32,000$32,000

Worst Cost: $36,000$36,000$36,000$36,000

Location: Buildings G & H mechanical roomsBuildings G & H mechanical roomsBuildings G & H mechanical roomsBuildings G & H mechanical rooms


Observations:

No unusual conditions noted on storage tanks at time of site visit. Dates vary from building to building. We have separated out the storage tanks based on the date they were installed. These tanks were purchased and installed in 2005. In our experience, we have seen the need to replace storage tanks on the average of 10 - 15 years, depending on the quality of the tank, the liner, and the quality of the water running through the system. It was reported the water in this area is "hard", which impacts the life expectancy of the tank. Also, these tanks need to be ASME approved, therefore, the reason for the higher cost. The remaining life is based on the age of these units.





General Notes:

building G - (2) Bradford Whitebuilding G - (2) Bradford Whitebuilding G - (2) Bradford Whitebuilding G - (2) Bradford White m/n: M3ST120R5A, date: 2005 m/n: M3ST120R5A, date: 2005 m/n: M3ST120R5A, date: 2005 m/n: M3ST120R5A, date: 2005

building H - (2) Bradford Whitebuilding H - (2) Bradford Whitebuilding H - (2) Bradford Whitebuilding H - (2) Bradford White m/n: M3ST120R5A, date: 2005 m/n: M3ST120R5A, date: 2005 m/n: M3ST120R5A, date: 2005 m/n: M3ST120R5A, date: 2005



Comp #: 703


Best Cost: $48,000$48,000$48,000$48,000

Worst Cost: $54,000$54,000$54,000$54,000

Location: Buildings A, E, & F mechanical roomsBuildings A, E, & F mechanical roomsBuildings A, E, & F mechanical roomsBuildings A, E, & F mechanical rooms


Observations:

No unusual conditions noted on storage tanks at time of site visit. Dates vary from building to building. These tanks were purchased and installed in 2007. We have separated out the storage tanks based on the date they were installed. In our experience, we have seen the need to replace storage tanks on the average of 10 - 15 years, depending on the quality of the tank, the liner, and the quality of the water running through the system. It was reported the water in this area is "hard", which impacts the life expectancy of the tank. Also, these tanks need to be ASME approved, therefore, the reason for the higher cost. The remaining life is based on the age of the units.





General Notes:

building A - (2) Bradford Whitebuilding A - (2) Bradford Whitebuilding A - (2) Bradford Whitebuilding A - (2) Bradford White m/n: M38ST120R5, date: 2007 m/n: M38ST120R5, date: 2007 m/n: M38ST120R5, date: 2007 m/n: M38ST120R5, date: 2007

building E - (1) Statebuilding E - (1) Statebuilding E - (1) Statebuilding E - (1) State m/n: PVG012000VT, date: 2007 m/n: PVG012000VT, date: 2007 m/n: PVG012000VT, date: 2007 m/n: PVG012000VT, date: 2007 (1) Bradford White (1) Bradford White (1) Bradford White (1) Bradford White m/n: M3ST120R5, date: 2007 m/n: M3ST120R5, date: 2007 m/n: M3ST120R5, date: 2007 m/n: M3ST120R5, date: 2007

building F - (2) Bradford Whitebuilding F - (2) Bradford Whitebuilding F - (2) Bradford Whitebuilding F - (2) Bradford White m/n: M3ST120R5A, date: 2007 m/n: M3ST120R5A, date: 2007 m/n: M3ST120R5A, date: 2007 m/n: M3ST120R5A, date: 2007



Comp #: 706


Best Cost: $49,500$49,500$49,500$49,500

Worst Cost: $56,250$56,250$56,250$56,250

Location: Buildings A - I mechanical roomsBuildings A - I mechanical roomsBuildings A - I mechanical roomsBuildings A - I mechanical rooms

Quantity: (9) heaters(9) heaters(9) heaters(9) heaters

Observations:

These sidearm heaters appear to be original and assumed to be functional and in working condition. There were no reports of problems from the current service contractor. In our experience, we have seen the average life expectancy of these units range between 22 - 28 years. Even those these have exceeded the typical life, we have extended the useful life, as well as the remaining life. Even though these are still functional, the association needs to prepare for eventual replacement.


$5500/heater; Estimate to replace


Tankless Water Heaters - Replace

General Notes:

building A - building A - building A - building A - (1) Therma-flow tankless water heater(1) Therma-flow tankless water heater(1) Therma-flow tankless water heater(1) Therma-flow tankless water heater m/n: TF-30, s/n: 053188-1 m/n: TF-30, s/n: 053188-1 m/n: TF-30, s/n: 053188-1 m/n: TF-30, s/n: 053188-1building B - building B - building B - building B - (1) Everhot tankless water heater(1) Everhot tankless water heater(1) Everhot tankless water heater(1) Everhot tankless water heater m/n: 30-Wide, s/n: 010907-25 m/n: 30-Wide, s/n: 010907-25 m/n: 30-Wide, s/n: 010907-25 m/n: 30-Wide, s/n: 010907-25building C - building C - building C - building C - (1) Everhot tankless water heaters(1) Everhot tankless water heaters(1) Everhot tankless water heaters(1) Everhot tankless water heaters m/n: 25-long, s/n: 030411-06 m/n: 25-long, s/n: 030411-06 m/n: 25-long, s/n: 030411-06 m/n: 25-long, s/n: 030411-06building D - building D - building D - building D - (1) Everhot tankless water heater(1) Everhot tankless water heater(1) Everhot tankless water heater(1) Everhot tankless water heater m/n: 25-long, s/n: 072110-12 m/n: 25-long, s/n: 072110-12 m/n: 25-long, s/n: 072110-12 m/n: 25-long, s/n: 072110-12building E - building E - building E - building E - (1) Everhot tankless water heater (no visible badge)(1) Everhot tankless water heater (no visible badge)(1) Everhot tankless water heater (no visible badge)(1) Everhot tankless water heater (no visible badge)building F - building F - building F - building F - (1) Everhot tankless water heater(1) Everhot tankless water heater(1) Everhot tankless water heater(1) Everhot tankless water heater m/n: 25-long, s/n: 04012-13 m/n: 25-long, s/n: 04012-13 m/n: 25-long, s/n: 04012-13 m/n: 25-long, s/n: 04012-13building G - building G - building G - building G - (1) Everhot tankless water heater (badge illegible)(1) Everhot tankless water heater (badge illegible)(1) Everhot tankless water heater (badge illegible)(1) Everhot tankless water heater (badge illegible)building H - building H - building H - building H - (1) Everhot tankless water heater(1) Everhot tankless water heater(1) Everhot tankless water heater(1) Everhot tankless water heater m/n: 25-long, s/n: 101508-20 m/n: 25-long, s/n: 101508-20 m/n: 25-long, s/n: 101508-20 m/n: 25-long, s/n: 101508-20building I - building I - building I - building I - (1) Everhot tankless water heater (no label)(1) Everhot tankless water heater (no label)(1) Everhot tankless water heater (no label)(1) Everhot tankless water heater (no label)



Comp #: 715


Best Cost: $20,000$20,000$20,000$20,000

Worst Cost: $25,000$25,000$25,000$25,000

Location: Building mechanical roomsBuilding mechanical roomsBuilding mechanical roomsBuilding mechanical rooms

Quantity: Approx. (35) pumpsApprox. (35) pumpsApprox. (35) pumpsApprox. (35) pumps

Observations:

Ages and conditions vary from mechanical room to mechanical room. It was reported that several pumps have been replaced recently. Due to the varying ages, we recommend establishing Reserve funds for periodic replacement of the needed pumps every 3 years.


Allowance for partial replacement

Higher allowance for more replacement

Pumps - Replace

General Notes:

building A - (2) Grundsfos circ pumpsbuilding A - (2) Grundsfos circ pumpsbuilding A - (2) Grundsfos circ pumpsbuilding A - (2) Grundsfos circ pumpsbuilding B - (2) Grundsfos circ pumps, (3) ass't small circ building B - (2) Grundsfos circ pumps, (3) ass't small circ building B - (2) Grundsfos circ pumps, (3) ass't small circ building B - (2) Grundsfos circ pumps, (3) ass't small circ pumpspumpspumpspumpsbuilding C - (1) Grundsfos circ pumps, (3) ass't small circ building C - (1) Grundsfos circ pumps, (3) ass't small circ building C - (1) Grundsfos circ pumps, (3) ass't small circ building C - (1) Grundsfos circ pumps, (3) ass't small circ pumpspumpspumpspumpsbuilding D - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding D - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding D - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding D - (1) Grundsfos circ pump, (3) ass't small circ pumpsBuilding E - (1) Grundsfos circ pump, (3) ass't small circ pumpsBuilding E - (1) Grundsfos circ pump, (3) ass't small circ pumpsBuilding E - (1) Grundsfos circ pump, (3) ass't small circ pumpsBuilding E - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding F - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding F - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding F - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding F - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding G - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding G - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding G - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding G - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding H - (1) Grundsfos circ pumpbuilding H - (1) Grundsfos circ pumpbuilding H - (1) Grundsfos circ pumpbuilding H - (1) Grundsfos circ pumpbuilding I - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding I - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding I - (1) Grundsfos circ pump, (3) ass't small circ pumpsbuilding I - (1) Grundsfos circ pump, (3) ass't small circ pumps



Comp #: 721


Best Cost: $15,000$15,000$15,000$15,000

Worst Cost: $18,000$18,000$18,000$18,000

Location: Unit buildings A - I mechanical roomsUnit buildings A - I mechanical roomsUnit buildings A - I mechanical roomsUnit buildings A - I mechanical rooms

Quantity: Approx. (23) tanksApprox. (23) tanksApprox. (23) tanksApprox. (23) tanks

Observations:

Ages and conditions vary from mechanical room to mechanical room. Based on dates on the tanks, it appears that several tanks have been replaced recently. Due to the varying ages, we recommend establishing Reserve funds for periodic replacement of the needed tanks every 5 years.


Allowance for partial replacement

Higher allowance for more replacement

Expansion Tanks - Replace

General Notes:

building A - (2) tanks building A - (2) tanks building A - (2) tanks building A - (2) tanks Wessels - 1995, Amtrol - 2011 Wessels - 1995, Amtrol - 2011 Wessels - 1995, Amtrol - 2011 Wessels - 1995, Amtrol - 2011building B - (2) tanksbuilding B - (2) tanksbuilding B - (2) tanksbuilding B - (2) tanks AX200V - 1998, Amtrol - 2002 AX200V - 1998, Amtrol - 2002 AX200V - 1998, Amtrol - 2002 AX200V - 1998, Amtrol - 2002building C - (2) tanksbuilding C - (2) tanksbuilding C - (2) tanksbuilding C - (2) tanks Amtrol - 2008, Amtrol - 2010 Amtrol - 2008, Amtrol - 2010 Amtrol - 2008, Amtrol - 2010 Amtrol - 2008, Amtrol - 2010building D - (2) tanksbuilding D - (2) tanksbuilding D - (2) tanksbuilding D - (2) tanks Extol - 2009, Therm X Trol - 2005 Extol - 2009, Therm X Trol - 2005 Extol - 2009, Therm X Trol - 2005 Extol - 2009, Therm X Trol - 2005building E - (1) tankbuilding E - (1) tankbuilding E - (1) tankbuilding E - (1) tank Therm X Trol - 2010 Therm X Trol - 2010 Therm X Trol - 2010 Therm X Trol - 2010building F - (1) tankbuilding F - (1) tankbuilding F - (1) tankbuilding F - (1) tank Therm X Trol - 2010 Therm X Trol - 2010 Therm X Trol - 2010 Therm X Trol - 2010building G - (2) tanksbuilding G - (2) tanksbuilding G - (2) tanksbuilding G - (2) tanks Amtrol - 2010, Extrol - 2011 Amtrol - 2010, Extrol - 2011 Amtrol - 2010, Extrol - 2011 Amtrol - 2010, Extrol - 2011building H - (3) tanksbuilding H - (3) tanksbuilding H - (3) tanksbuilding H - (3) tanks Extrol - 2008, Therm X Trol - 2008, Extrol - 2008 Extrol - 2008, Therm X Trol - 2008, Extrol - 2008 Extrol - 2008, Therm X Trol - 2008, Extrol - 2008 Extrol - 2008, Therm X Trol - 2008, Extrol - 2008building I - (2) tanksbuilding I - (2) tanksbuilding I - (2) tanksbuilding I - (2) tanks Extrol - no date, Therm X Trol - 2009 Extrol - no date, Therm X Trol - 2009 Extrol - no date, Therm X Trol - 2009 Extrol - no date, Therm X Trol - 2009



Comp #: 901


Best Cost: $0$0$0$0


Location: Throughout community buildingsThroughout community buildingsThroughout community buildingsThroughout community buildings

Quantity: (9) Silent Knight panels(9) Silent Knight panels(9) Silent Knight panels(9) Silent Knight panels

Observations:

System was not tested during inspection. It was reported the panels are a conventional panel, meaning it reports problem areas on a particular floor, as opposed to an exact location. Upgrades to an addressable system are not required unless the entire building had to be replaced for an unknown reason. These conventional panels cost less than $1500 each to replace and the ages of these panels range from 5 - 10 years old. Due to the small cost and varying ages, we recommend replacing the panels on an as needed basis with general operating funds. Therefore, as long as replacement can occur with conventional panels, then separate Reserve funding is not required for this component.


Fire Protection System - Replace

General Notes:

Bldg. A - Silent Knight - m/n: SK-5208Bldg. A - Silent Knight - m/n: SK-5208Bldg. A - Silent Knight - m/n: SK-5208Bldg. A - Silent Knight - m/n: SK-5208Bldg. B - Silent Knight - m/n: SK-5208Bldg. B - Silent Knight - m/n: SK-5208Bldg. B - Silent Knight - m/n: SK-5208Bldg. B - Silent Knight - m/n: SK-5208Bldg. C - Silent Knight - m/n: SK-5208Bldg. C - Silent Knight - m/n: SK-5208Bldg. C - Silent Knight - m/n: SK-5208Bldg. C - Silent Knight - m/n: SK-5208Bldg. D - Silent Knight - m/n: SK-5208Bldg. D - Silent Knight - m/n: SK-5208Bldg. D - Silent Knight - m/n: SK-5208Bldg. D - Silent Knight - m/n: SK-5208Bldg. E - Silent Knight - m/n: SK-5207Bldg. E - Silent Knight - m/n: SK-5207Bldg. E - Silent Knight - m/n: SK-5207Bldg. E - Silent Knight - m/n: SK-5207Bldg. F - Silent Knight - m/n: SK-5207Bldg. F - Silent Knight - m/n: SK-5207Bldg. F - Silent Knight - m/n: SK-5207Bldg. F - Silent Knight - m/n: SK-5207Bldg. G - Silent Knight - m/n: SK-5207Bldg. G - Silent Knight - m/n: SK-5207Bldg. G - Silent Knight - m/n: SK-5207Bldg. G - Silent Knight - m/n: SK-5207Bldg. H - Silent Knight - m/n: SK-5208Bldg. H - Silent Knight - m/n: SK-5208Bldg. H - Silent Knight - m/n: SK-5208Bldg. H - Silent Knight - m/n: SK-5208Bldg. I - Silent Knight - m/n: SK-5208Bldg. I - Silent Knight - m/n: SK-5208Bldg. I - Silent Knight - m/n: SK-5208Bldg. I - Silent Knight - m/n: SK-5208



Comp #: 1424


Best Cost: $30,000$30,000$30,000$30,000

Worst Cost: $36,000$36,000$36,000$36,000



Observations:

Interior décor and conditions vary from building to building. Level of use and care will also dictate the frequency of addressing certain needs in the hallways. Due to the varying conditions of the hallways, we have established a Reserve allowance to refurbish 3 interiors every 5 years. Included in the refurbishment costs are painting/sealing the wall surfaces and replacing flooring products. Major upgrades, such as completely remodeling the interiors is not included in this report. If the association has a desire for major upgrades and complete renovation of the interiors, we would be able to add funding for that project in future Reserve Study updates.


Allowance to refurbish interior hallways

Higher allowance for minor upgrades

Unit Building Interiors - Refurbish

General Notes:

Buildings A, B, C, - Buildings A, B, C, - Buildings A, B, C, - Buildings A, B, C, - carpet - 185 GSY, slate tile - 40 GSFcarpet - 185 GSY, slate tile - 40 GSFcarpet - 185 GSY, slate tile - 40 GSFcarpet - 185 GSY, slate tile - 40 GSFhandrail - 130 LF, interior siding - 1,880 GSFhandrail - 130 LF, interior siding - 1,880 GSFhandrail - 130 LF, interior siding - 1,880 GSFhandrail - 130 LF, interior siding - 1,880 GSFpainted areas - 2,865 GSF, unit doors - (23) 3x7painted areas - 2,865 GSF, unit doors - (23) 3x7painted areas - 2,865 GSF, unit doors - (23) 3x7painted areas - 2,865 GSF, unit doors - (23) 3x7utility doors - (3) 3x7 doorsutility doors - (3) 3x7 doorsutility doors - (3) 3x7 doorsutility doors - (3) 3x7 doors Building D - Building D - Building D - Building D - sub interior siding - 3,765 GSF sub interior siding - 3,765 GSF sub interior siding - 3,765 GSF sub interior siding - 3,765 GSF sub paint - 800 GSF sub paint - 800 GSF sub paint - 800 GSF sub paint - 800 GSF Building E - Building E - Building E - Building E - add slate tile - 65 GSF add slate tile - 65 GSF add slate tile - 65 GSF add slate tile - 65 GSF Building F - Building F - Building F - Building F - add carpet - 65 GSY add carpet - 65 GSY add carpet - 65 GSY add carpet - 65 GSY add paint - 1,345 GSF add paint - 1,345 GSF add paint - 1,345 GSF add paint - 1,345 GSF Building H - Building H - Building H - Building H - sub carpet - 225 GSY sub carpet - 225 GSY sub carpet - 225 GSY sub carpet - 225 GSY sub paint - 2,930 GSF sub paint - 2,930 GSF sub paint - 2,930 GSF sub paint - 2,930 GSF Building G & I - Building G & I - Building G & I - Building G & I - add carpet - 25 GSY add carpet - 25 GSY add carpet - 25 GSY add carpet - 25 GSY add slate tile - 65 GSF add slate tile - 65 GSF add slate tile - 65 GSF add slate tile - 65 GSF add paint - 1,345 GSF add paint - 1,345 GSF add paint - 1,345 GSF add paint - 1,345 GSF sub unit doors - (20) 3x7 doors sub unit doors - (20) 3x7 doors sub unit doors - (20) 3x7 doors sub unit doors - (20) 3x7 doors add vinyl flooring - 105 GSF add vinyl flooring - 105 GSF add vinyl flooring - 105 GSF add vinyl flooring - 105 GSF



Comp #: 1506


Best Cost: $0$0$0$0



Quantity: Approx. 560 GSYApprox. 560 GSYApprox. 560 GSYApprox. 560 GSY

Observations:

Conditions vary from building to building. Due to the small area per building, we recommend replacing this carpeting on an as needed basis with general operating funds.


Outdoor Carpet - Replace

General Notes:

Approx. 62 yards, (48) stairs average per building x 9 bldgs = Approx. 62 yards, (48) stairs average per building x 9 bldgs = Approx. 62 yards, (48) stairs average per building x 9 bldgs = Approx. 62 yards, (48) stairs average per building x 9 bldgs = 560 GSY560 GSY560 GSY560 GSY



Comp #: 1602


Best Cost: $0$0$0$0


Location: Exterior and interior lightingExterior and interior lightingExterior and interior lightingExterior and interior lighting

Quantity: Numerous fixturesNumerous fixturesNumerous fixturesNumerous fixtures

Observations:

Lights are in good condition. Due to the minimal cost to replace these lights, Reserve funding is not appropriate. Repair and replace as necessary as an operating expense.


Wall Mounted Lights - Replace

General Notes:


Client Reference #Client Reference #Client Reference #Client Reference # 8508850885088508Component Inventory for Buildings J - KComponent Inventory for Buildings J - KComponent Inventory for Buildings J - KComponent Inventory for Buildings J - K

Comp #: 105


Best Cost: $42,000$42,000$42,000$42,000

Worst Cost: $49,000$49,000$49,000$49,000

Location: Building J & K roofsBuilding J & K roofsBuilding J & K roofsBuilding J & K roofs

Quantity: Approx. 70 SquaresApprox. 70 SquaresApprox. 70 SquaresApprox. 70 Squares

Observations:

It was reported these buildings were constructed in 2008. Even though this roof may be rated as a 30 year roof, a life expectancy of 18 - 22 years is expected in this environment due to extreme weather elements. The remaining life is based on the reported age of the roofs and the observed conditions at the time of our field work.




Comp Shingle Roof - Replace

General Notes:

(2) buildings @ 35 squares each = 70 squares(2) buildings @ 35 squares each = 70 squares(2) buildings @ 35 squares each = 70 squares(2) buildings @ 35 squares each = 70 squares



Comp #: 120


Best Cost: $0$0$0$0


Location: Bldg J & K roof perimeterBldg J & K roof perimeterBldg J & K roof perimeterBldg J & K roof perimeter


Observations:

Quantity is too small for separate Reserve designation. Repair on an as needed basis with general operating funds. Replace at the same time as roof replacement to ensure proper size is installed and to achieve the best cost possible.


Gutters/Downspouts - Replace

General Notes:

(2) buildings @ 65 LF each = 130 LF(2) buildings @ 65 LF each = 130 LF(2) buildings @ 65 LF each = 130 LF(2) buildings @ 65 LF each = 130 LF



Comp #: 121


Best Cost: $0$0$0$0


Location: North side of roofsNorth side of roofsNorth side of roofsNorth side of roofs


Observations:

Heat tape has been installed along edges of roof to prevent frost damage to roof shingle during winter months. No problems noted or reported during time of inspection. Linear foot measurement refers to the amount of roof surfaces to which the heat tape is applied and is not the actual measurement of the heat tape used. Due to small area, repairs should be conducted on an as needed basis with general operating funds. Separate Reserve funding is not required for this component at this time.


Heat Tape - Replace

General Notes:

NOTE: Heat tape quantities are not actual, we use the linear NOTE: Heat tape quantities are not actual, we use the linear NOTE: Heat tape quantities are not actual, we use the linear NOTE: Heat tape quantities are not actual, we use the linear foot measurement of the roof line/s in which it is installed.foot measurement of the roof line/s in which it is installed.foot measurement of the roof line/s in which it is installed.foot measurement of the roof line/s in which it is installed.



Comp #: 204


Best Cost: $8,000$8,000$8,000$8,000

Worst Cost: $10,000$10,000$10,000$10,000

Location: Siding, trim, railings, etc.Siding, trim, railings, etc.Siding, trim, railings, etc.Siding, trim, railings, etc.

Quantity: (4) Units(4) Units(4) Units(4) Units

Observations:

At the time of construction, it appears that a transparent stain was applied to the surfaces. If a solid stain was applied the next time around, then the restaining cycle could range from 4 - 5 years. If the association sticks with a transparent stain, expect to reseal the buildings every 3 - 4 years. Current conditions are poor and in need of a sealant this year.


$2000/unit; estimate to reseal

Higher estimate for more prep work

Building Ext Surfaces - Reseal

General Notes:



Comp #: 305


Best Cost: $8,000$8,000$8,000$8,000

Worst Cost: $10,000$10,000$10,000$10,000

Location: Buildings J & KBuildings J & KBuildings J & KBuildings J & K


Observations:

Majority of siding materials were in good condition at time of field work. There was one small board (looks like a patch) on the back side of the building that was split and had a small piece missing. This can be repaired prior to sealing this year. Due to the type of material and the probability of periodic repairs, we recommend establishing a Reserve allowance for major repairs every other sealing cycle. As the buildings age and a history of repairs is established, we can adjust the cost accordingly in future Reserve Study updates.


Allowance for major repairs every other seal cycle


Wood Siding - Replace/Major Repairs

General Notes:

(2) buildings @ 5,325 GSF each = 10,650 GSF(2) buildings @ 5,325 GSF each = 10,650 GSF(2) buildings @ 5,325 GSF each = 10,650 GSF(2) buildings @ 5,325 GSF each = 10,650 GSF



Comp #: 309


Best Cost: $0$0$0$0




Observations:

Stones appeared to be adhered to the sides well with no loose or missing stone noted. These are stones with a flat backing to ensure proper attachment to the buildings. Typically, these stones have an extended life expectancy and complete replacement is unlikely. There are times where some stones will loosen and fall off, but this is unpredictable when and how much would occur. Repairs should be handled as a maintenance issue on an as needed basis. No reserve funding is required for this component at this time. If it later turns out that frequent repairs are necessary, then funding could be added in future Reserve Study updates.


Stone/Rock Siding - Major Repairs

General Notes:

(2) buildings @ 535 GSF each = 1,070 GSF(2) buildings @ 535 GSF each = 1,070 GSF(2) buildings @ 535 GSF each = 1,070 GSF(2) buildings @ 535 GSF each = 1,070 GSF



Comp #: 501


Best Cost: $0$0$0$0


Location: Building J & KBuilding J & KBuilding J & KBuilding J & K

Quantity: (8) 3x7 doors(8) 3x7 doors(8) 3x7 doors(8) 3x7 doors

Observations:

No unusual conditions noted at time of property observation. Declarations are unclear as to who is responsible for the doors, but it is assumed the doors are the responsibility of the unit owner. Therefore, separate Reserve funding is not required for this component.


Unit Doors - Replace

General Notes:

front doors - (2) 3x7 doors, (2) 3x7 doors w/litefront doors - (2) 3x7 doors, (2) 3x7 doors w/litefront doors - (2) 3x7 doors, (2) 3x7 doors w/litefront doors - (2) 3x7 doors, (2) 3x7 doors w/lite (per building) (per building) (per building) (per building)



Comp #: 502


Best Cost: $0$0$0$0



Quantity: (4) 8x16 OH doors(4) 8x16 OH doors(4) 8x16 OH doors(4) 8x16 OH doors

Observations:

No major problems observed with the garage doors at the time of inspection. According to the declarations, the garage doors are not the responsibility of the association. Therefore, at this time, Reserve funding is not required for this component. Some associations decide to take on the responsibility as an HOA expense in order to maintain a consistent appearance and to obtain the best replacement cost possible. If this occurs, we can add Reserve funding in future Reserve Study updates.


Garage Doors - Replace

General Notes:



Comp #: 601


Best Cost: $0$0$0$0




Observations:

All of the concrete surfaces are new and in good condition with only minor areas of cracking noted. Due to small area, we recommend treating repairs on an as needed basis. Therefore, separate Reserve funding is not required for this component.


Concrete Patios - Repair

General Notes:

patio/porch - 140 GSFpatio/porch - 140 GSFpatio/porch - 140 GSFpatio/porch - 140 GSFsite concrete - 100 GSFsite concrete - 100 GSFsite concrete - 100 GSFsite concrete - 100 GSF



Comp #: 606


Best Cost: $15,300$15,300$15,300$15,300

Worst Cost: $19,125$19,125$19,125$19,125



Observations:

Minor splitting of a few boards were noted on the upper level entry walkway deck. Unable to visually observe the condition of the private decks due to accessibility and privacy issues. In this climate, the average life expectancy for wood decks ranges between 10 - 15 years, depending on the quality of the materials and the level of care.


$20.00/GSF; Estimate to replace

Higher estimate for upgraded materials

Wood Deck - Replace

General Notes:

upper decks - 460 GSFupper decks - 460 GSFupper decks - 460 GSFupper decks - 460 GSFupper entry decks - 305 GSFupper entry decks - 305 GSFupper entry decks - 305 GSFupper entry decks - 305 GSF



Comp #: 1001


Best Cost: $0$0$0$0




Observations:

Cost for major repairs or replacement is included with the decking estimate. Therefore, separate Reserve funding is not required for this component.


Wood/Iron Rails - Replace

General Notes:

Upper decks - 130 LFUpper decks - 130 LFUpper decks - 130 LFUpper decks - 130 LFlower/front porch - 30 LFlower/front porch - 30 LFlower/front porch - 30 LFlower/front porch - 30 LFupper/entry decks - 105 LFupper/entry decks - 105 LFupper/entry decks - 105 LFupper/entry decks - 105 LF



Comp #: 1011


Best Cost: $14,500$14,500$14,500$14,500

Worst Cost: $17,500$17,500$17,500$17,500



Observations:

Wall was structurally stable and intact at time of field work. No unusual conditions were present at that time. Generally, in most conditions, these walls have an overall life expectancy of 20 - 25 years. However, with periodic repairs, the life of the wall can be extended. The top timber tends to become the first piece to deteriorate and need to be replaced. This type of wall also tends to be susceptible to movement and leaning. When replacement is necessary, most associations are converting to block wall for longer life expectancy and less maintenance.


Estimate to replace


Retaining Wall - Replace

General Notes:



Comp #: 1602


Best Cost: $3,000$3,000$3,000$3,000

Worst Cost: $3,600$3,600$3,600$3,600

Location: Buildings J & K exteriorBuildings J & K exteriorBuildings J & K exteriorBuildings J & K exterior


Observations:

No unusual conditions were observed or reported at time of observation. While replacement can occur on an as needed basis, it is our opinion and recommendation to replace all lights at the same time every 12 - 15 years to maintain a consistent appearance throughout the property. In addition, by replacing multiple fixtures, the association will be able to obtain a quantity discount for the fixtures. Estimated replacement cost includes labor for installation. Remaining life based on observed conditions and age.


$150/light; Estimate to replace

$180/light; Higher estimate for better quality

Exterior Wall Mount - Replace

General Notes:


Client Reference #Client Reference #Client Reference #Client Reference # 8508850885088508Component Inventory for Guest ClubhouseComponent Inventory for Guest ClubhouseComponent Inventory for Guest ClubhouseComponent Inventory for Guest Clubhouse

Comp #: 104


Best Cost: $12,000$12,000$12,000$12,000

Worst Cost: $13,125$13,125$13,125$13,125

Location: Building roofBuilding roofBuilding roofBuilding roof


Observations:

Direct access was not available to all areas at time of initial field observation, and follow up field work took place during winter months. No reports of problems with the roof were noted. The average life expectancy for this type of roof ranges between 12 - 18 years in this climate. Remaining life is based on the age of this building.


$800/square; Estimate to replace

$875/square; Higher estimate for more labor

Flat Roof - Replace

General Notes:



Comp #: 105


Best Cost: $47,500$47,500$47,500$47,500

Worst Cost: $53,200$53,200$53,200$53,200

Location: Building roofBuilding roofBuilding roofBuilding roof

Quantity: Approx. 76 sqsApprox. 76 sqsApprox. 76 sqsApprox. 76 sqs

Observations:

This building was constructed about 5 years ago after the original building burned down. Even though this roof may be rated as a 30 year roof, a life expectancy of 18 - 22 years is expected in this environment. Due to the potentially harsh environment, we typically see associations replacing roofs sooner than the manufacturer's suggested useful life.


$625/square; estimate to replace



General Notes:



Comp #: 120


Best Cost: $0$0$0$0


Location: Building roof perimeterBuilding roof perimeterBuilding roof perimeterBuilding roof perimeter


Observations:

Area is too small for separate Reserve designation. Replace as needed with general operating funds.


Gutters/Downspouts/Heat Tape - Replace

General Notes:



Comp #: 204


Best Cost: $4,000$4,000$4,000$4,000

Worst Cost: $4,750$4,750$4,750$4,750

Location: Siding, trim, handrails, etc.Siding, trim, handrails, etc.Siding, trim, handrails, etc.Siding, trim, handrails, etc.

Quantity: Moderate GSFModerate GSFModerate GSFModerate GSF

Observations:

Painted surfaces are thin and in need of repainting soon. In this climate, we recommend painting every 4 - 5 years to protect the wood from pre-mature deterioration and splitting. Based on observed conditions and age of building, we recommend painting this building as soon as possible.


Estimate to repaint exterior surfaces



General Notes:



Comp #: 216


Best Cost: $9,530$9,530$9,530$9,530

Worst Cost: $10,960$10,960$10,960$10,960

Location: Interior surfacesInterior surfacesInterior surfacesInterior surfaces


Observations:

Majority of painted surfaces appeared in fair condition at time of observation with local marking noted in many areas. The manager's office showed signs of drywall damage which should be repaired as an operating expense prior to repainting. Expect to repaint interior surfaces in high traffic areas such as the clubhouse every 9 - 10 years.


$1.00/GSF; Estimate to repaint

$1.15/GSF; Higher estimate

Interior Surfaces - Repaint

General Notes:

manager's office - 645 GSFmanager's office - 645 GSFmanager's office - 645 GSFmanager's office - 645 GSFupper level - 1,775 GSFupper level - 1,775 GSFupper level - 1,775 GSFupper level - 1,775 GSFwomen's restroom - 475 GSFwomen's restroom - 475 GSFwomen's restroom - 475 GSFwomen's restroom - 475 GSFmen's restroom - 560 GSFmen's restroom - 560 GSFmen's restroom - 560 GSFmen's restroom - 560 GSFpool area - 3,675 GSFpool area - 3,675 GSFpool area - 3,675 GSFpool area - 3,675 GSFfitness room - 725 GSFfitness room - 725 GSFfitness room - 725 GSFfitness room - 725 GSFlaundry room - 1,675 GSF (incl restroom)laundry room - 1,675 GSF (incl restroom)laundry room - 1,675 GSF (incl restroom)laundry room - 1,675 GSF (incl restroom)



Comp #: 301


Best Cost: $12,000$12,000$12,000$12,000

Worst Cost: $15,000$15,000$15,000$15,000

Location: Exterior claddingExterior claddingExterior claddingExterior cladding


Observations:

Siding was in good condition with no signs of warped or delaminating pieces of material noted. This type of siding has a life expectancy of 20 - 30 years, depending on the level of maintenance and exposure to elements. As long as the building is painted and the joints are caulked every 4 - 5 years, the overall life could be extended. At this time, we recommend establishing Reserve funding for periodic repairs every 15 years. If siding ages better than expected, then we can adjust this line item in future Reserve Study updates.


Allowance for major repairs


Wood Siding - Major Repairs

General Notes:



Comp #: 309


Best Cost: $0$0$0$0


Location: Exterior claddingExterior claddingExterior claddingExterior cladding


Observations:

Due to the very long life expectancy of cultured stone, we do not recommend reserving to completely replace. Due to the low quantity of stonework on site, we do not recommend reserving for major repairs. Frequently inspect and repair the stone work as needed using operating funds.


Stone/Rock Siding - Major Repairs

General Notes:

Interior - Interior - Interior - Interior - lower level - 250 GSF lower level - 250 GSF lower level - 250 GSF lower level - 250 GSF upper level - 510 GSF upper level - 510 GSF upper level - 510 GSF upper level - 510 GSFExterior - 1,265 GSFExterior - 1,265 GSFExterior - 1,265 GSFExterior - 1,265 GSF



Comp #: 503


Best Cost: $16,250$16,250$16,250$16,250

Worst Cost: $18,750$18,750$18,750$18,750


Quantity: Approx. (25) doorsApprox. (25) doorsApprox. (25) doorsApprox. (25) doors

Observations:

No problems noted or reported with clubhouse doors. Expect to replace these doors every 20 - 25 years depending on levels of use and abuse. Make minor repairs or replace individual doors as needed using operating funds between replacement cycles.


$650/door; Estimate to replace

$750/door; Higher estimate for better quality

Common Area Doors - Replace

General Notes:

Large Clubhouse - Large Clubhouse - Large Clubhouse - Large Clubhouse - manager's office - (1) 3x7 door manager's office - (1) 3x7 door manager's office - (1) 3x7 door manager's office - (1) 3x7 door large clubhouse lower level - (3) 3x7 doors (glass) large clubhouse lower level - (3) 3x7 doors (glass) large clubhouse lower level - (3) 3x7 doors (glass) large clubhouse lower level - (3) 3x7 doors (glass) upper level - (1) 3x7 door upper level - (1) 3x7 door upper level - (1) 3x7 door upper level - (1) 3x7 door stairs/corridor to pool - (3) 3x7 doors stairs/corridor to pool - (3) 3x7 doors stairs/corridor to pool - (3) 3x7 doors stairs/corridor to pool - (3) 3x7 doors women's restroom - (1) 3x7 doors women's restroom - (1) 3x7 doors women's restroom - (1) 3x7 doors women's restroom - (1) 3x7 doors pool area - (5) 3x7 doors pool area - (5) 3x7 doors pool area - (5) 3x7 doors pool area - (5) 3x7 doors laundry room - (6) 3x7 doors laundry room - (6) 3x7 doors laundry room - (6) 3x7 doors laundry room - (6) 3x7 doors exterior metal doors - (3) 3x7 doors exterior metal doors - (3) 3x7 doors exterior metal doors - (3) 3x7 doors exterior metal doors - (3) 3x7 doorsUnit doors - (2) 3x7 doorsUnit doors - (2) 3x7 doorsUnit doors - (2) 3x7 doorsUnit doors - (2) 3x7 doors



Comp #: 506


Best Cost: $75,600$75,600$75,600$75,600

Worst Cost: $89,600$89,600$89,600$89,600

Location: Large clubhouseLarge clubhouseLarge clubhouseLarge clubhouse

Quantity: Approx. (112) windowsApprox. (112) windowsApprox. (112) windowsApprox. (112) windows

Observations:

Windows appeared in good condition at time of observation with no reported or noted problems. Expect to replace windows every 25 - 30 years. Individual windows can be replaced as an operating expense between replacement cycles.


$675/opening; Average estimate to replace

$800/window; Higher estimate for better quality

Windows - Replace

General Notes:

manager's office - (1) windowmanager's office - (1) windowmanager's office - (1) windowmanager's office - (1) windowlarge clubhouse lower level - (36) windowslarge clubhouse lower level - (36) windowslarge clubhouse lower level - (36) windowslarge clubhouse lower level - (36) windowsupper level - (46) windowsupper level - (46) windowsupper level - (46) windowsupper level - (46) windowspool area - (26) windowspool area - (26) windowspool area - (26) windowspool area - (26) windowsracquet ball court - (3) windowsracquet ball court - (3) windowsracquet ball court - (3) windowsracquet ball court - (3) windows



Comp #: 607


Best Cost: $8,000$8,000$8,000$8,000

Worst Cost: $10,000$10,000$10,000$10,000

Location: Building EgressBuilding EgressBuilding EgressBuilding Egress


Observations:

Stairways and decks were stable at time of property observation. The average life expectancy for wood stair systems ranges between 17 - 20 years, depending on level of use and maintenance.


estimate to rebuild deck and stairs

Higher estimate for upgraded materials

Wood Stairs/Deck - Replace

General Notes:

stairs - (39) treadsstairs - (39) treadsstairs - (39) treadsstairs - (39) treadsstringers - 95 LFstringers - 95 LFstringers - 95 LFstringers - 95 LFwood rail - 115 LFwood rail - 115 LFwood rail - 115 LFwood rail - 115 LFdecking - 250 GSFdecking - 250 GSFdecking - 250 GSFdecking - 250 GSF



Comp #: 608


Best Cost: $0$0$0$0


Location: Pool areaPool areaPool areaPool area


Observations:

Concrete appeared in good condition at time of observation with no problems noted. Due to this concrete being indoors, it is unlikely that advanced deterioration will occur at any time in the foreseeable future. At some point, reserve funding may need to be added to future updates of this report. Make repairs and seal or caulk any cracks as needed using operating funds.


Pool Deck - Replace

General Notes:



Comp #: 702


Best Cost: $16,000$16,000$16,000$16,000

Worst Cost: $19,000$19,000$19,000$19,000

Location: Mechanical roomMechanical roomMechanical roomMechanical room

Quantity: (1) boiler(1) boiler(1) boiler(1) boiler

Observations:

Boiler is approximately 10 years old at time of observation with no apparent or reported problems with boiler function. Noted some scaling and rust in the air intake pan of this boiler. Expect to replace this heater every 20 - 25 years depending on levels of maintenance and the quality of the water running through the system.


Estimate to replace

Higher estimate

Boiler - Replace

General Notes:

Heating boiler - Heating boiler - Heating boiler - Heating boiler - Laars Laars Laars Laars m/n: HH 0715 IN 09 K1AC CQ m/n: HH 0715 IN 09 K1AC CQ m/n: HH 0715 IN 09 K1AC CQ m/n: HH 0715 IN 09 K1AC CQ s/n: C03 A00715 s/n: C03 A00715 s/n: C03 A00715 s/n: C03 A00715715,000 BTU in715,000 BTU in715,000 BTU in715,000 BTU in



Comp #: 703


Best Cost: $4,500$4,500$4,500$4,500

Worst Cost: $5,500$5,500$5,500$5,500


Quantity: (1) heater(1) heater(1) heater(1) heater

Observations:

Water heater appeared in working condition at time of observation with no noted or reported problems. Depending on levels of use, expect to replace this water heater every 12 - 15 years. Higher levels of maintenance will lead to a longer useful life.


$4,500/heater; Est for 120 Gallon storage tank

Higher estimate for emergency call

Water Heater - Replace

General Notes:

Water heater - Water heater - Water heater - Water heater - Rheem Ruud Commercial Rheem Ruud Commercial Rheem Ruud Commercial Rheem Ruud Commercial s/n: URNG 0603G02909 s/n: URNG 0603G02909 s/n: URNG 0603G02909 s/n: URNG 0603G02909 m/n: G100-200 m/n: G100-200 m/n: G100-200 m/n: G100-200 100 gal. 100 gal. 100 gal. 100 gal.199,000 BTUin199,000 BTUin199,000 BTUin199,000 BTUindate: 6/2003date: 6/2003date: 6/2003date: 6/2003



Comp #: 707


Best Cost: $50,000$50,000$50,000$50,000

Worst Cost: $60,000$60,000$60,000$60,000

Location: Elevator control roomElevator control roomElevator control roomElevator control room

Quantity: (1) elevator(1) elevator(1) elevator(1) elevator

Observations:

The elevator was operating smoothly with no problems noted. The inspection and maintenance records on site did not report any unusual problems. This elevator is relatively new and in good condition. Elevator should be inspected annually by a professional to ensure proper operation and to detect any safety concerns. The equipment that will eventually fail and need to be replaced include the control system (brain of the unit), door operator and tracks, and the pump unit. Eventually, parts of the system become obsolete and replacement will be necessary. Due to a moderate use facility, Reserve to replace this equipment every 25 years.


$50000/elevator; Estimate to rebuild

$60000/elevator; Higher estimate

Elevator - Rebuild/Upgrade

General Notes:

Elevator - Elevator - Elevator - Elevator - OTIS Elevator - OTIS Elevator - OTIS Elevator - OTIS Elevator - 3-phase, 15 hp, 208 Volts 3-phase, 15 hp, 208 Volts 3-phase, 15 hp, 208 Volts 3-phase, 15 hp, 208 Voltscontract #: 469281contract #: 469281contract #: 469281contract #: 469281 s/n: 12340312 s/n: 12340312 s/n: 12340312 s/n: 12340312 m/n: AAA21241U m/n: AAA21241U m/n: AAA21241U m/n: AAA21241U date: 3/19/2003 date: 3/19/2003 date: 3/19/2003 date: 3/19/2003



Comp #: 709


Best Cost: $12,000$12,000$12,000$12,000

Worst Cost: $15,000$15,000$15,000$15,000

Location: Elevator control roomElevator control roomElevator control roomElevator control room

Quantity: (1) elevator(1) elevator(1) elevator(1) elevator

Observations:

No unusual wear or deterioration noted on cab interiors. Timing of remodels and décor choices depend on the association ownership and desires to improve appearance. Per new Colorado conveyance regulations, it is required that a licensed elevator contractor oversee all cab renovations unless you are replacing like-for-like (e.g. replacing old tile with new tile). New interiors also have to be permitted with the state so that they meet code standards such as flame spread ratings, retain proper ventilation, etc. This new regulation has caused the cost of remodeling to increase by more than double over the past couple years.


$12000/cab; Estimate for a basic remodel

$15000/cab; Higher estimate

Elevator Cab - Remodel

General Notes:

OTIS Elevator - OTIS Elevator - OTIS Elevator - OTIS Elevator - 3 stop, 2,100 lbs 3 stop, 2,100 lbs 3 stop, 2,100 lbs 3 stop, 2,100 lbs

Formica (or similar) walls - 65 GSFFormica (or similar) walls - 65 GSFFormica (or similar) walls - 65 GSFFormica (or similar) walls - 65 GSFcarpet - 20 GSFcarpet - 20 GSFcarpet - 20 GSFcarpet - 20 GSFlighted ceiling panel - 20 GSFlighted ceiling panel - 20 GSFlighted ceiling panel - 20 GSFlighted ceiling panel - 20 GSF



Comp #: 715


Best Cost: $0$0$0$0


Location: Mechanical RoomMechanical RoomMechanical RoomMechanical Room

Quantity: Approx. (2) circ pumpsApprox. (2) circ pumpsApprox. (2) circ pumpsApprox. (2) circ pumps

Observations:

Due to low quantity and low cost of replacement, we do not recommend reserving to replace these pumps at this time. Replace as needed using operating funds.


Pumps - Replace

General Notes:



Comp #: 721


Best Cost: $3,500$3,500$3,500$3,500

Worst Cost: $4,500$4,500$4,500$4,500


Quantity: (4) expansion tanks(4) expansion tanks(4) expansion tanks(4) expansion tanks

Observations:

The cause of failure for expansion tanks is deterioration of the rubber bladder over time or the sudden pressurization within the system. Both of these causes are unpredictable, and therefore cannot be classified as a reserve item. However, due to the large quantity of expansion tanks on site, we recommend reserving an allowance to replace tanks as needed every 8 - 10 years.


Allowance to replace needed tanks

Higher allowance for more labor


General Notes:

(3) small expansion tanks(3) small expansion tanks(3) small expansion tanks(3) small expansion tanks(1) medium expansion tank.(1) medium expansion tank.(1) medium expansion tank.(1) medium expansion tank.



Comp #: 901


Best Cost: $3,500$3,500$3,500$3,500

Worst Cost: $3,850$3,850$3,850$3,850

Location: Lower level main roomLower level main roomLower level main roomLower level main room

Quantity: (1) Fire panel(1) Fire panel(1) Fire panel(1) Fire panel

Observations:

No problems noted or reported with panel at time of observation. Perform regular, professional inspections and testing to panel and system and expect to completely replace panels approximately every 20 to 25 years.


$3500/Panel; Estimate to replace

Higher estimate for additional parts


General Notes:

Fire panel - EST-2Fire panel - EST-2Fire panel - EST-2Fire panel - EST-2



Comp #: 903


Best Cost: $8,500$8,500$8,500$8,500

Worst Cost: $10,000$10,000$10,000$10,000

Location: Manager's officeManager's officeManager's officeManager's office

Quantity: (1) DVR, (5) cameras(1) DVR, (5) cameras(1) DVR, (5) cameras(1) DVR, (5) cameras

Observations:

DVR was working properly and no reports of problems with cameras at time of observation. Expect to replace video surveillance system every 10 - 12 years.


Estimate to replace

Higher estimate for more functionality

Video Surveillance System - Replace

General Notes:



Comp #: 1101


Best Cost: $10,500$10,500$10,500$10,500

Worst Cost: $11,600$11,600$11,600$11,600


Quantity: (1) 12x30 pool (1) 6x7 spa(1) 12x30 pool (1) 6x7 spa(1) 12x30 pool (1) 6x7 spa(1) 12x30 pool (1) 6x7 spa

Observations:

At time of observation, there were no problems noted or reported with the pool. This pool is a fiberglass shell that should be resurfaced approximately every 8 - 9 years to ensure a comfortable and safe environment.


Estimate to recoat pool


Pool w/Spa - Resurface

General Notes:



Comp #: 1102


Best Cost: $5,000$5,000$5,000$5,000

Worst Cost: $6,000$6,000$6,000$6,000


Quantity: (2) spas(2) spas(2) spas(2) spas

Observations:

Similar to the pool, these spas are fiberglass shells that need to be resurfaced on a cyclical basis. Due to the increased level of chemicals and the heat of the water, we recommend resurfacing the spas more often than the pool. Plan on resurfacing projects taking place every 5 - 6 years.


$2,500/Spa; Estimate to resurface spa

$3,000/Spa; Higher estimate for more prep work

Spa - Resurface

General Notes:



Comp #: 1105


Best Cost: $3,000$3,000$3,000$3,000

Worst Cost: $3,500$3,500$3,500$3,500

Location: Pool mechanical roomPool mechanical roomPool mechanical roomPool mechanical room


Observations:

Pool heater appeared in fair condition with no scaling or rusting noted. However, due to year round use of this pool and the fact that the heater is never taken off line, we expect this heater will have a slightly shorter useful life than seasonal pool setups. Therefore, expect to replace every 10 - 12 years.



$3500/heater; Higher estimate

Pool Heater - Replace

General Notes:

Laars Lite 2Laars Lite 2Laars Lite 2Laars Lite 2 m/n: LG175M m/n: LG175M m/n: LG175M m/n: LG175M s/n: J08PE0859 s/n: J08PE0859 s/n: J08PE0859 s/n: J08PE0859 date: 5/08 date: 5/08 date: 5/08 date: 5/08

175,000 BTU in175,000 BTU in175,000 BTU in175,000 BTU in



Comp #: 1106


Best Cost: $7,500$7,500$7,500$7,500

Worst Cost: $8,400$8,400$8,400$8,400


Quantity: (3) heaters(3) heaters(3) heaters(3) heaters

Observations:

The spa heater showed signs of minor scaling and rust. The typical life of this heater ranges between 10 - 12 years with proper maintenance. The shorter replacement cycle is due to how hard it works to keep the water at a hot temperature, and the level of chemicals that run through the system. The remaining life is based on current age and condition.




Spa Heaters - Replace

General Notes:

Spa #1 - Laars Lite 2Spa #1 - Laars Lite 2Spa #1 - Laars Lite 2Spa #1 - Laars Lite 2 m/n: LD125N-H, s/n: C02PH0182 m/n: LD125N-H, s/n: C02PH0182 m/n: LD125N-H, s/n: C02PH0182 m/n: LD125N-H, s/n: C02PH0182Spa #2 - Laars Lite 2Spa #2 - Laars Lite 2Spa #2 - Laars Lite 2Spa #2 - Laars Lite 2 m/n: LJ125N-H, s/n: D03PI1573 m/n: LJ125N-H, s/n: D03PI1573 m/n: LJ125N-H, s/n: D03PI1573 m/n: LJ125N-H, s/n: D03PI1573Spa #3 - Laars Lite 2Spa #3 - Laars Lite 2Spa #3 - Laars Lite 2Spa #3 - Laars Lite 2 m/n: LJ125NXH, s/n: C03PF1383 m/n: LJ125NXH, s/n: C03PF1383 m/n: LJ125NXH, s/n: C03PF1383 m/n: LJ125NXH, s/n: C03PF1383

All boilers - 125,000 BTU inAll boilers - 125,000 BTU inAll boilers - 125,000 BTU inAll boilers - 125,000 BTU in



Comp #: 1108


Best Cost: $3,600$3,600$3,600$3,600

Worst Cost: $4,500$4,500$4,500$4,500


Quantity: (4) filters(4) filters(4) filters(4) filters

Observations:

These filters will have an extended useful life due to the type of construction and the ability to replace gaskets and seals separate from the shell itself. Expect to replace the sand media every 5 - 7 years depending on levels of use as an operating expense.


$1200/filter; Estimate to replace

$1500/filter; Higher estimate

Pool Filter - Replace

General Notes:

(3) Triton, Sand Dollar Filters(3) Triton, Sand Dollar Filters(3) Triton, Sand Dollar Filters(3) Triton, Sand Dollar Filters(1) Triton, Tagelus Filter(1) Triton, Tagelus Filter(1) Triton, Tagelus Filter(1) Triton, Tagelus Filter



Comp #: 1121


Best Cost: $0$0$0$0



Quantity: Approx. (15) piecesApprox. (15) piecesApprox. (15) piecesApprox. (15) pieces

Observations:

All pool furniture is plastic and easily replaced with matching pieces in the future. Due to the type of furnishings in the pool area, we recommend replacing as needed using operating funds. No reserve funding necessary at this time.


Pool Furniture - Replace

General Notes:

Large Clubhouse - Large Clubhouse - Large Clubhouse - Large Clubhouse - All furniture is plastic (Rubbermaid or similar) - All furniture is plastic (Rubbermaid or similar) - All furniture is plastic (Rubbermaid or similar) - All furniture is plastic (Rubbermaid or similar) - (5) lounge chairs, (8) chairs, (2) tables (5) lounge chairs, (8) chairs, (2) tables (5) lounge chairs, (8) chairs, (2) tables (5) lounge chairs, (8) chairs, (2) tables



Comp #: 1126


Best Cost: $8,500$8,500$8,500$8,500

Worst Cost: $10,000$10,000$10,000$10,000


Quantity: ExtensiveExtensiveExtensiveExtensive

Observations:

At time of observation all equipment was functioning as expected with no reported or noted problems. Expect to replace various pieces of equipment every 5 - 10 years to stay current in terms of jurisdictional code, efficiency and "green" technology.


Allowance for needed replacement equipment

Higher allowance for more needed replacements

Misc. Pool Equipment - Replace

General Notes:

Large Clubhouse - Large Clubhouse - Large Clubhouse - Large Clubhouse - (4) Tab feeders (4) Tab feeders (4) Tab feeders (4) Tab feeders (2) Eclipse, Ozone generators (2) Eclipse, Ozone generators (2) Eclipse, Ozone generators (2) Eclipse, Ozone generators (2) O3 zone by Balboa (2) O3 zone by Balboa (2) O3 zone by Balboa (2) O3 zone by BalboaPumps - Pumps - Pumps - Pumps - (2) A.O. Smith pumps (spa) (2) A.O. Smith pumps (spa) (2) A.O. Smith pumps (spa) (2) A.O. Smith pumps (spa) (1) Extreme E pump (spa) (1) Extreme E pump (spa) (1) Extreme E pump (spa) (1) Extreme E pump (spa) (1) Whisper-Flo pump (pool) (1) Whisper-Flo pump (pool) (1) Whisper-Flo pump (pool) (1) Whisper-Flo pump (pool)



Comp #: 1309


Best Cost: $0$0$0$0


Location: Lower level main roomLower level main roomLower level main roomLower level main room

Quantity: (1) ping pong table(1) ping pong table(1) ping pong table(1) ping pong table

Observations:

Due to the ability to replace this table with similar equipment from local retailers, we recommend doing so as needed using operating funds. If more game equipment is purchase in the coming years, we can add funding in future updates of this report.


Ping Pong Table - Replace

General Notes:

NOTE: heavily scratched and damagedNOTE: heavily scratched and damagedNOTE: heavily scratched and damagedNOTE: heavily scratched and damaged



Comp #: 1401


Best Cost: $15,000$15,000$15,000$15,000

Worst Cost: $18,000$18,000$18,000$18,000

Location: Large ClubhouseLarge ClubhouseLarge ClubhouseLarge Clubhouse

Quantity: (1) laundry room(1) laundry room(1) laundry room(1) laundry room

Observations:

Laundry room was clean and appeared in good condition at time of observation. It was reported that the laundry machines are leased and therefore funding is not included in this line item or this report. Expect to remodel the laundry room every 18 - 20 years to keep the space appealing to residents and visitors.


Allowance for general remodel

Higher allowance for better quality materials

Laundry Room - Remodel

General Notes:

Main Room - Main Room - Main Room - Main Room - Formica (or similar) - 100 GSF Formica (or similar) - 100 GSF Formica (or similar) - 100 GSF Formica (or similar) - 100 GSFRestroom - Restroom - Restroom - Restroom - (1) toilet, (1) sink (1) toilet, (1) sink (1) toilet, (1) sink (1) toilet, (1) sink



Comp #: 1403


Best Cost: $12,000$12,000$12,000$12,000

Worst Cost: $15,000$15,000$15,000$15,000

Location: Upper levelUpper levelUpper levelUpper level

Quantity: (1) kitchen(1) kitchen(1) kitchen(1) kitchen

Observations:

At time of observation the kitchen appeared clean but some minor damage was noted. Signs of abuse were noted during observation. Expect to remodel the kitchen area every 12 - 15 years in order to maintain an attractive appearance.


Allowance to remodel kitchen

Higher allowance for better quality materials

Kitchen - Remodel

General Notes:

Upper level kitchen - Upper level kitchen - Upper level kitchen - Upper level kitchen - countertop (Formica or similar) - 115 GSF countertop (Formica or similar) - 115 GSF countertop (Formica or similar) - 115 GSF countertop (Formica or similar) - 115 GSF cabinetry - (15) lower, (10) upper cabinetry - (15) lower, (10) upper cabinetry - (15) lower, (10) upper cabinetry - (15) lower, (10) upperAppliances - Appliances - Appliances - Appliances - (1) range/oven, (1) refrigerator, (1) dishwasher (1) range/oven, (1) refrigerator, (1) dishwasher (1) range/oven, (1) refrigerator, (1) dishwasher (1) range/oven, (1) refrigerator, (1) dishwasher



Comp #: 1405


Best Cost: $18,000$18,000$18,000$18,000

Worst Cost: $20,000$20,000$20,000$20,000

Location: Throughout clubhouseThroughout clubhouseThroughout clubhouseThroughout clubhouse


Observations:

Furnishings appeared aged and in need of replacement at time of observation. Similar to other areas in the clubhouse, the furniture has been heavily used or abused detracting from the overall appearance of the space. Expect to replace furniture, in a high use facility, every 5 - 6 years to maintain an attractive appearance.


Allowance to replace furnishings

Higher allowance for more needed furniture

Furnishings - Replace

General Notes:

Large Clubhouse -Large Clubhouse -Large Clubhouse -Large Clubhouse - manager's office - (1) sofa, (3) desk chairs, manager's office - (1) sofa, (3) desk chairs, manager's office - (1) sofa, (3) desk chairs, manager's office - (1) sofa, (3) desk chairs, (2) desks (2) desks (2) desks (2) desks lower level - (1) sofa, (1) loveseat lower level - (1) sofa, (1) loveseat lower level - (1) sofa, (1) loveseat lower level - (1) sofa, (1) loveseat upper level - (3) loveseats, (3) armchairs, upper level - (3) loveseats, (3) armchairs, upper level - (3) loveseats, (3) armchairs, upper level - (3) loveseats, (3) armchairs, (3) sofas, (1) entertainment center, (3) sofas, (1) entertainment center, (3) sofas, (1) entertainment center, (3) sofas, (1) entertainment center, (30) wood dining chairs, (2) coffee tables, (30) wood dining chairs, (2) coffee tables, (30) wood dining chairs, (2) coffee tables, (30) wood dining chairs, (2) coffee tables, (3) end tables, (5) dining tables, (2) chess tables (3) end tables, (5) dining tables, (2) chess tables (3) end tables, (5) dining tables, (2) chess tables (3) end tables, (5) dining tables, (2) chess tables (1) sofa table, (2) barstools (1) sofa table, (2) barstools (1) sofa table, (2) barstools (1) sofa table, (2) barstools



Comp #: 1406


Best Cost: $7,200$7,200$7,200$7,200

Worst Cost: $9,000$9,000$9,000$9,000

Location: Fitness roomFitness roomFitness roomFitness room


Observations:

All equipment appears in good to fair condition at time of observation. Due to changes in fitness trends, we recommend reserving to replace strength equipment every 12 - 15 years to maintain a current and effective fitness center.


Estimate to replace all equipment


Strength Equipment - Replace

General Notes:

(1) Vision Fitness Multi-Station(1) Vision Fitness Multi-Station(1) Vision Fitness Multi-Station(1) Vision Fitness Multi-Station(1) Weider 200 dip/ab stand(1) Weider 200 dip/ab stand(1) Weider 200 dip/ab stand(1) Weider 200 dip/ab stand



Comp #: 1406


Best Cost: $15,500$15,500$15,500$15,500

Worst Cost: $20,500$20,500$20,500$20,500



Observations:

Schedules for replacing cardio equipment depends heavily upon level of use. Due to the observed condition of the equipment we recommend replacing this equipment every 8 - 10 years. No signs of abuse or mistreatment were noted at time of observation.


Estimate to replace all equipment


Cardio Equipment - Replace

General Notes:

(1) Landice L7 treadmill - $6,000 - $7,000(1) Landice L7 treadmill - $6,000 - $7,000(1) Landice L7 treadmill - $6,000 - $7,000(1) Landice L7 treadmill - $6,000 - $7,000(1) Vision Fitness E3600 bike - $2,500 - $3,500(1) Vision Fitness E3600 bike - $2,500 - $3,500(1) Vision Fitness E3600 bike - $2,500 - $3,500(1) Vision Fitness E3600 bike - $2,500 - $3,500(1) Vision Fitness X6600 Elliptical $4,000 - $6,000(1) Vision Fitness X6600 Elliptical $4,000 - $6,000(1) Vision Fitness X6600 Elliptical $4,000 - $6,000(1) Vision Fitness X6600 Elliptical $4,000 - $6,000(1) Vision Fitness R2600 recumbent bike - (1) Vision Fitness R2600 recumbent bike - (1) Vision Fitness R2600 recumbent bike - (1) Vision Fitness R2600 recumbent bike - $3,000 - $4,000 $3,000 - $4,000 $3,000 - $4,000 $3,000 - $4,000



Comp #: 1407


Best Cost: $18,935$18,935$18,935$18,935

Worst Cost: $22,375$22,375$22,375$22,375

Location: Interior finishInterior finishInterior finishInterior finish


Observations:

Wallpaper was aged in appearance and many areas of damaged surface area were noted. Based on current condition, we recommend replacing wallpaper every 10 years to maintain appearance.



$3.25/GSF; Higher estimate for better quality

Wallpaper - Replace

General Notes:

lower level - 1,170 GSFlower level - 1,170 GSFlower level - 1,170 GSFlower level - 1,170 GSFupper level - 2,755 GSFupper level - 2,755 GSFupper level - 2,755 GSFupper level - 2,755 GSFstairs/corridor to pool - 680 GSFstairs/corridor to pool - 680 GSFstairs/corridor to pool - 680 GSFstairs/corridor to pool - 680 GSFfitness room - 2,280 GSFfitness room - 2,280 GSFfitness room - 2,280 GSFfitness room - 2,280 GSF



Comp #: 1409


Best Cost: $3,000$3,000$3,000$3,000

Worst Cost: $4,500$4,500$4,500$4,500


Quantity: (1) sauna(1) sauna(1) sauna(1) sauna

Observations:

Sauna room appeared in good condition at time of observation with no noted or reported problems. In order to keep this room sanitary and appearing in good condition, we recommend reserving to refurbish every 12 - 15 years.


Allowance for major refurbishment of room

Higher allowance for more labor

Sauna Room - Refurbish

General Notes:

Sauna - Sauna - Sauna - Sauna - concrete - 90 GSF concrete - 90 GSF concrete - 90 GSF concrete - 90 GSF cedar - 330 GSF cedar - 330 GSF cedar - 330 GSF cedar - 330 GSF



Comp #: 1410


Best Cost: $2,400$2,400$2,400$2,400

Worst Cost: $2,800$2,800$2,800$2,800



Observations:

Sauna heater appeared in fair condition with signs of deterioration noted at time of observation. Expect a useful life of approximately 12 years assuming normal use and wear.


Estimate to replace heater

Higher estimate for better quality heater

Sauna Heater - Replace

General Notes:

Heater type - 1105-120Heater type - 1105-120Heater type - 1105-120Heater type - 1105-120 s/n: C 83/0011 s/n: C 83/0011 s/n: C 83/0011 s/n: C 83/0011



Comp #: 1413


Best Cost: $24,000$24,000$24,000$24,000

Worst Cost: $30,000$30,000$30,000$30,000

Location: Lower levelLower levelLower levelLower level

Quantity: (2) restrooms(2) restrooms(2) restrooms(2) restrooms

Observations:

Restrooms appeared in good to fair condition at time of observation with no overt signs of deterioration or abuse. Funding for painting and flooring are included with other line items in this report. This is for replacing fixtures and partitions only. Expect to update fixtures every 15 - 20 years depending on levels of maintenance and use.


$12,000/restroom; Estimate to remodel

$15,000/restroom; Estimate for better quality

Restrooms - Remodel

General Notes:

Women's Restroom - Women's Restroom - Women's Restroom - Women's Restroom - (3) toilets, (1) fiberglass shower unit, (3) sinks, (3) toilets, (1) fiberglass shower unit, (3) sinks, (3) toilets, (1) fiberglass shower unit, (3) sinks, (3) toilets, (1) fiberglass shower unit, (3) sinks, (3) toilet partitions (3) toilet partitions (3) toilet partitions (3) toilet partitions

Men's restroom - Men's restroom - Men's restroom - Men's restroom - (2) toilets, (1) urinal, (1) fiberglass shower unit, (2) toilets, (1) urinal, (1) fiberglass shower unit, (2) toilets, (1) urinal, (1) fiberglass shower unit, (2) toilets, (1) urinal, (1) fiberglass shower unit, (3) sinks, (2) toilet partitions (3) sinks, (2) toilet partitions (3) sinks, (2) toilet partitions (3) sinks, (2) toilet partitions



Comp #: 1421


Best Cost: $0$0$0$0



Quantity: (1) 36" TV(1) 36" TV(1) 36" TV(1) 36" TV

Observations:

This type of TV is available at local retailers for less than $1,000 and does not require any special installation or mounting beyond what is already installed in the fitness room. Replace this TV as needed using operating funds, no reserve funding necessary at this time.


Televisions - Replace

General Notes:

36" VIZIO HDTV36" VIZIO HDTV36" VIZIO HDTV36" VIZIO HDTV



Comp #: 1429


Best Cost: $4,400$4,400$4,400$4,400

Worst Cost: $4,800$4,800$4,800$4,800

Location: Throughout clubhouse lower levelThroughout clubhouse lower levelThroughout clubhouse lower levelThroughout clubhouse lower level


Observations:

Overall, ceiling tiles appeared in good condition. It is typical for ceiling tiles to show signs of staining and discoloration after 6 - 8 years. There were only a few discolored tiles at time of observation. Although the association can replace individual tiles as an operating issue, we recommend reserving to completely replace every 10 - 15 years because manufacturers will "retire" styles of ceiling tiles and individual replacement will not match existing.




Ceiling Tiles - Replace

General Notes:

lower level - 1,445 GSFlower level - 1,445 GSFlower level - 1,445 GSFlower level - 1,445 GSFstairs/corridor to pool - 155 GSFstairs/corridor to pool - 155 GSFstairs/corridor to pool - 155 GSFstairs/corridor to pool - 155 GSF



Comp #: 1430


Best Cost: $0$0$0$0


Location: ClubhouseClubhouseClubhouseClubhouse


Observations:

Due to the location of this rail being inside and the low quantity of wood rail, we do not recommend reserving to replace at this time. Include staining or painting of the rail with component #216. Any repairs that are needed as the railing ages can be performed as an operating issue.


Wood Handrail - Replace

General Notes:

stairs to upper level - 95 LFstairs to upper level - 95 LFstairs to upper level - 95 LFstairs to upper level - 95 LF



Comp #: 1430


Best Cost: $8,500$8,500$8,500$8,500

Worst Cost: $9,000$9,000$9,000$9,000



Observations:

Court appears well worn, leading us to believe that racquetball is played often in this community. Therefore, we recommend reserving to refurbish the court every 6 - 8 years in order to maintain a proper playing surface in terms of the hardwood floors as well as the wall panels. It appeared, at time of observation, that there was an issue with an expansion joint in the floor where a 1/4" crack had developed.


Allowance to refurbish racquetball court

Higher allowance for more refurb costs

Racquet Ball Court - Refurbish

General Notes:

court components - court components - court components - court components - hardwood flooring - 725 GSF hardwood flooring - 725 GSF hardwood flooring - 725 GSF hardwood flooring - 725 GSF walls/ceiling Formica (or similar) - 3,005 GSF walls/ceiling Formica (or similar) - 3,005 GSF walls/ceiling Formica (or similar) - 3,005 GSF walls/ceiling Formica (or similar) - 3,005 GSF



Comp #: 1501


Best Cost: $15,060$15,060$15,060$15,060

Worst Cost: $17,570$17,570$17,570$17,570



Observations:

Carpet showed signs of traffic patterns, cuts, separating seams, and an overall poor appearance. The main issues were in the lower level game room where the carpet receives most of the traffic in the building. Expect to replace this carpet every 5 - 6 years depending on levels of use and quality of carpet used.


$30/GSY; Estimate for average quality

$35/GSY; Higher estimate for better quality

Carpeting - Replace

General Notes:

manager's office - 24 GSYmanager's office - 24 GSYmanager's office - 24 GSYmanager's office - 24 GSYlower level - 170 GSYlower level - 170 GSYlower level - 170 GSYlower level - 170 GSYstairs to upper level - 17 GSYstairs to upper level - 17 GSYstairs to upper level - 17 GSYstairs to upper level - 17 GSYupper level - 184 GSYupper level - 184 GSYupper level - 184 GSYupper level - 184 GSYstairs/corridor to pool - 19 GSYstairs/corridor to pool - 19 GSYstairs/corridor to pool - 19 GSYstairs/corridor to pool - 19 GSYfitness room - 88 GSYfitness room - 88 GSYfitness room - 88 GSYfitness room - 88 GSY



Comp #: 1502


Best Cost: $10,950$10,950$10,950$10,950

Worst Cost: $13,150$13,150$13,150$13,150

Location: Upper level, Laundry roomUpper level, Laundry roomUpper level, Laundry roomUpper level, Laundry room


Observations:

At time of observation, cuts, discoloration and other problems were noted in the vinyl flooring. The typical useful life of vinyl flooring is between 8 - 10 years. The laundry room floor appeared in slightly better condition than the kitchen area of the clubhouse but due to the seams beginning to separate, we recommend replacing as a safety concern.


$15/GSF; Estimate to replace

$18/GSF; Higher estimate for better quality

Vinyl Flooring - Replace

General Notes:

Clubhouse upper level - 130 GSFClubhouse upper level - 130 GSFClubhouse upper level - 130 GSFClubhouse upper level - 130 GSFLaundry room - 600 GSFLaundry room - 600 GSFLaundry room - 600 GSFLaundry room - 600 GSF



Comp #: 1503


Best Cost: $33,400$33,400$33,400$33,400

Worst Cost: $39,000$39,000$39,000$39,000



Observations:

Tile appeared in good to fair condition at time of observation with no missing or broken tile noted. Although the life of the tile may outlast our recommended useful life, it is typical for communities to replace the tile based on decorative appearance every 12 - 15 years. Therefore, we recommend replacing tile every 15 years in order to maintain a current appearance.


$18/GSF: Estimate to replace

$21/GSF: Higher estimate for more labor

Ceramic Tile - Replace

General Notes:

women's restroom - 475 GSF (wall and floor)women's restroom - 475 GSF (wall and floor)women's restroom - 475 GSF (wall and floor)women's restroom - 475 GSF (wall and floor)men's restroom - 560 GSF (wall and floor)men's restroom - 560 GSF (wall and floor)men's restroom - 560 GSF (wall and floor)men's restroom - 560 GSF (wall and floor)pool area - 820 GSF (wall tile)pool area - 820 GSF (wall tile)pool area - 820 GSF (wall tile)pool area - 820 GSF (wall tile)



Comp #: 1601


Best Cost: $16,400$16,400$16,400$16,400

Worst Cost: $20,500$20,500$20,500$20,500



Observations:

Light fixtures appeared in good condition at time of observation with no apparent damage noted. While it is possible to replace individual light fixtures as needed, we recommend replacing all fixtures at once for significant cost savings and in order to ensure a consistent appearance throughout the clubhouse.


$200/fixture; Estimate to replace and install new

$250/fixture; Higher estimate

Interior - Replace

General Notes:

lower level - (4) ceilinglower level - (4) ceilinglower level - (4) ceilinglower level - (4) ceilingupper level - (7) pendant, (27) ceiling, (3) sconce,upper level - (7) pendant, (27) ceiling, (3) sconce,upper level - (7) pendant, (27) ceiling, (3) sconce,upper level - (7) pendant, (27) ceiling, (3) sconce, (4) ceiling fans (4) ceiling fans (4) ceiling fans (4) ceiling fansstairs/corridor to pool - (4) sconcestairs/corridor to pool - (4) sconcestairs/corridor to pool - (4) sconcestairs/corridor to pool - (4) sconcepool area - (14) sconce, (19) ceilingpool area - (14) sconce, (19) ceilingpool area - (14) sconce, (19) ceilingpool area - (14) sconce, (19) ceiling



Comp #: 1602


Best Cost: $0$0$0$0


Location: Clubhouse exterior lightingClubhouse exterior lightingClubhouse exterior lightingClubhouse exterior lighting


Observations:

Lights are in good condition. Due to the minimal cost to replace these lights, Reserve funding is not appropriate. Repair and replace as necessary as an operating expense.



General Notes:



Comp #: 1608


Best Cost: $0$0$0$0



Quantity: Approx.. (70) fixturesApprox.. (70) fixturesApprox.. (70) fixturesApprox.. (70) fixtures

Observations:

Due to these fixtures being standard equipment and the fact that they are kept in stock at local retailers, we recommend replacing as needed using operating funds. Frequently inspect the exit and emergency fixtures for proper function as a life safety issue. No reserve funding necessary at this time.


Multi-Purpose Lighting - Replace

General Notes:

Large Clubhouse -Large Clubhouse -Large Clubhouse -Large Clubhouse - manager's office - (2) fluorescent manager's office - (2) fluorescent manager's office - (2) fluorescent manager's office - (2) fluorescent lower level - (22) cans, (2) exit, (2) emerg lower level - (22) cans, (2) exit, (2) emerg lower level - (22) cans, (2) exit, (2) emerg lower level - (22) cans, (2) exit, (2) emerg upper level - (1) exit, (3) emerg upper level - (1) exit, (3) emerg upper level - (1) exit, (3) emerg upper level - (1) exit, (3) emerg stairs/corridor to pool - (1) exit, (1) emerg stairs/corridor to pool - (1) exit, (1) emerg stairs/corridor to pool - (1) exit, (1) emerg stairs/corridor to pool - (1) exit, (1) emerg women's restroom - (3) fluorescent, (5) cans women's restroom - (3) fluorescent, (5) cans women's restroom - (3) fluorescent, (5) cans women's restroom - (3) fluorescent, (5) cans men's restroom - (7) cans men's restroom - (7) cans men's restroom - (7) cans men's restroom - (7) cans pool area - (3) exit, (3) emerg pool area - (3) exit, (3) emerg pool area - (3) exit, (3) emerg pool area - (3) exit, (3) emerg racquet ball court - (6) fluorescent racquet ball court - (6) fluorescent racquet ball court - (6) fluorescent racquet ball court - (6) fluorescent laundry room - (7) fluorescent, (1) emerg, (1) exit laundry room - (7) fluorescent, (1) emerg, (1) exit laundry room - (7) fluorescent, (1) emerg, (1) exit laundry room - (7) fluorescent, (1) emerg, (1) exit


Client Reference #Client Reference #Client Reference #Client Reference # 8508850885088508Component Inventory for Owner's ClubhouseComponent Inventory for Owner's ClubhouseComponent Inventory for Owner's ClubhouseComponent Inventory for Owner's Clubhouse

Comp #: 102


Best Cost: $4,000$4,000$4,000$4,000

Worst Cost: $4,500$4,500$4,500$4,500

Location: Clubhouse roofClubhouse roofClubhouse roofClubhouse roof


Observations:

Direct access was not available to all areas at time of initial field observation, and follow up field work took place during winter months. No reports of problems with the roof were noted. The average life expectancy for this type of roof ranges between 12 - 15 years in this climate. Remaining life is based on the age of this building.


$800/square; Estimate to replace


Mod. Bitumen Flat Roof - Replace

General Notes:



Comp #: 105


Best Cost: $22,425$22,425$22,425$22,425

Worst Cost: $25,350$25,350$25,350$25,350

Location: Clubhouse roofClubhouse roofClubhouse roofClubhouse roof

Quantity: Approx.. 39 squaresApprox.. 39 squaresApprox.. 39 squaresApprox.. 39 squares

Observations:

Observed chips and loss of granule material noted at time of field work. Even though this roof may be rated as a 30 year roof, a life expectancy of 18 - 22 years is expected in this environment. Due to the potentially harsh environment, we typically see associations replacing roofs sooner than the manufacturer's suggested useful life.





General Notes:



Comp #: 120


Best Cost: $0$0$0$0


Location: Clubhouse roof perimeterClubhouse roof perimeterClubhouse roof perimeterClubhouse roof perimeter


Observations:

Area is too small for separate Reserve designation. Replace as needed with general operating funds.


Gutters/Downspouts/Heat Tape - Replace

General Notes:



Comp #: 204


Best Cost: $3,000$3,000$3,000$3,000

Worst Cost: $3,600$3,600$3,600$3,600

Location: Siding, trim, etc.Siding, trim, etc.Siding, trim, etc.Siding, trim, etc.


Observations:

Painted surfaces are thin and in need of repainting soon. In this climate, we recommend painting every 4 - 5 years to protect the wood from pre-mature deterioration and splitting. Based on observed conditions and age of building, we recommend painting this building as soon as possible.


Estimate to repaint



General Notes:



Comp #: 216


Best Cost: $4,825$4,825$4,825$4,825

Worst Cost: $5,550$5,550$5,550$5,550



Observations:

Owner's clubhouse was very dated in appearance at time of observation partly due to type of finish, but also because the paint appeared dull, discolored and faded. We recommend reserving to repaint this year in order to restore appearance. Expect to repaint every 8 - 10 years in order to maintain an appropriate appearance in the clubhouse.


$1.00/GSF; Estimate to repaint


Interior Surfaces - Repaint

General Notes:

clubhouse interior - clubhouse interior - clubhouse interior - clubhouse interior - main room - 1,385 GSF main room - 1,385 GSF main room - 1,385 GSF main room - 1,385 GSF pool/spa area - 2,670 GSF pool/spa area - 2,670 GSF pool/spa area - 2,670 GSF pool/spa area - 2,670 GSF restrooms - 760 GSF restrooms - 760 GSF restrooms - 760 GSF restrooms - 760 GSF



Comp #: 301


Best Cost: $5,500$5,500$5,500$5,500

Worst Cost: $6,250$6,250$6,250$6,250

Location: Clubhouse exterior claddingClubhouse exterior claddingClubhouse exterior claddingClubhouse exterior cladding


Observations:

Siding was in fair to poor condition with several signs of warped and split pieces of material noted. This type of siding has a life expectancy of 20 - 30 years, depending on the level of maintenance and exposure to elements. Based on observed conditions, we recommend performing some repairs prior to painting the surfaces as soon as possible.


Allowance for periodic repairs


Wood Siding - Replace

General Notes:



Comp #: 503


Best Cost: $2,600$2,600$2,600$2,600

Worst Cost: $3,000$3,000$3,000$3,000

Location: Clubhouse exteriorClubhouse exteriorClubhouse exteriorClubhouse exterior

Quantity: Approx. (4) doorsApprox. (4) doorsApprox. (4) doorsApprox. (4) doors

Observations:

Doors appeared in very poor condition at time of observation. We recommend replacing all doors at the same time in order to maintain a proper and consistent appearance within the clubhouse. Under normal conditions and with proper maintenance, we expect these doors to have a useful life of approximately 25 years.


$650/door; Estimate to replace doors

$750/door; Higher estimate

Doors - Replace

General Notes:



Comp #: 506


Best Cost: $10,400$10,400$10,400$10,400

Worst Cost: $12,000$12,000$12,000$12,000


Quantity: Approx. (16) openingsApprox. (16) openingsApprox. (16) openingsApprox. (16) openings

Observations:

Windows appear to be in good condition at time of observation with no apparent problems noted or reported. Due to these windows being vinyl, we expect that they have been replaced at some point within the last 10 years. Expect a useful life of approximately 25 years under normal conditions.


$650/opening; Average estimate to replace

$750/window; Higher estimate for better quality

Windows - Replace

General Notes:

main room - (4) windowsmain room - (4) windowsmain room - (4) windowsmain room - (4) windowspool area - (12) windowspool area - (12) windowspool area - (12) windowspool area - (12) windows



Comp #: 607


Best Cost: $10,000$10,000$10,000$10,000

Worst Cost: $12,500$12,500$12,500$12,500

Location: Spa deck, exterior deckingSpa deck, exterior deckingSpa deck, exterior deckingSpa deck, exterior decking


Observations:

In general, decks are in fair condition with typical signs of weathering and deterioration. We recommend replacing all decks at the same time for best cost estimate. Based on observed conditions, we anticipate replacement will need to occur within the next 7 - 10 years.


Estimate to replace all decks

Higher estimate for upgraded material

Wood Deck - Replace

General Notes:

Interior - Interior - Interior - Interior - spa deck - 110 GSF spa deck - 110 GSF spa deck - 110 GSF spa deck - 110 GSF lattice work - 120 GSF lattice work - 120 GSF lattice work - 120 GSF lattice work - 120 GSFExterior - Exterior - Exterior - Exterior - Entry area - deck - 310 GSF, rail - 40 LF Entry area - deck - 310 GSF, rail - 40 LF Entry area - deck - 310 GSF, rail - 40 LF Entry area - deck - 310 GSF, rail - 40 LF



Comp #: 608


Best Cost: $0$0$0$0




Observations:

We recommend sealing the tile and grout as needed using operating funds in order to protect the material from the harsh chemicals in the pool. There were no signs of cracking or other issues at time of observation. The tile should have an indefinite useful life and therefore, reserve funding is not appropriate at this time.


Pool Deck - Replace

General Notes:



Comp #: 702


Best Cost: $18,000$18,000$18,000$18,000

Worst Cost: $22,000$22,000$22,000$22,000


Quantity: (1) boiler(1) boiler(1) boiler(1) boiler

Observations:

Boiler was working as expected during observation with no apparent problems noted or reported. Expect a useful life of approximately 20 years assuming proper maintenance is performed and based on the quality of the water running through the system.


Estimate to replace boiler

Higher estimate for more efficient unit

Boilers - Replace

General Notes:

Boiler - Boiler - Boiler - Boiler - Teledyne Laars Teledyne Laars Teledyne Laars Teledyne Laars m/n: HH0500IN09K1ACE m/n: HH0500IN09K1ACE m/n: HH0500IN09K1ACE m/n: HH0500IN09K1ACE s/n: C97A00389 s/n: C97A00389 s/n: C97A00389 s/n: C97A00389500,000 BTU in500,000 BTU in500,000 BTU in500,000 BTU in



Comp #: 703


Best Cost: $3,200$3,200$3,200$3,200

Worst Cost: $3,500$3,500$3,500$3,500


Quantity: (1) tank(1) tank(1) tank(1) tank

Observations:

This storage tank appears to have been recently installed with on problems noted or reported. We recommend reserving to replace the storage tank every 15 - 16 years in order to maintain function and to ensure the best possible efficiency within the water heating system.


$3200/tank; Est for 120 Gallon storage tank

$3500/tank; Higher estimate for better quality

Hot Water Storage Tank - Replace

General Notes:

NOTE: Hot water storage tank did not have a legible NOTE: Hot water storage tank did not have a legible NOTE: Hot water storage tank did not have a legible NOTE: Hot water storage tank did not have a legible badge/label.badge/label.badge/label.badge/label.



Comp #: 717


Best Cost: $1,200$1,200$1,200$1,200

Worst Cost: $1,500$1,500$1,500$1,500


Quantity: (1) nat gas heater(1) nat gas heater(1) nat gas heater(1) nat gas heater

Observations:

The heater was not functioning at time of observation due to favorable weather conditions, however the unit appears very old and in need to updating in order to add efficiency to the system which will result in a net savings for heating the pool area. After replacing the current heater, do not expect a similar useful life for the new heater as they are not meant to last as long as they once did. Replace heater approximately every 15 years.



$1500/heater; Higher estimate

Suspended Heaters - Replace

General Notes:



Comp #: 721


Best Cost: $0$0$0$0



Quantity: (2) expansion tanks(2) expansion tanks(2) expansion tanks(2) expansion tanks

Observations:

Due to the unpredictable nature of these tanks, it is very difficult to assign a useful life. Therefore, we recommend planning to replace these expansion tanks as needed using operating funds.



General Notes:



Comp #: 901


Best Cost: $2,000$2,000$2,000$2,000

Worst Cost: $2,500$2,500$2,500$2,500

Location: Main room wall cabinetMain room wall cabinetMain room wall cabinetMain room wall cabinet

Quantity: (2) fire panels(2) fire panels(2) fire panels(2) fire panels

Observations:

No problems noted or reported with panel at the time of observation. Perform regular, professional inspections and testing to panel and system and expect to completely replace panels approximately every 20 to 25 years.


Estimate to replace

Higher estimate for additional parts


General Notes:

(1) Silent Knight - m/n: 5107(1) Silent Knight - m/n: 5107(1) Silent Knight - m/n: 5107(1) Silent Knight - m/n: 5107(1) Thorn Fire Quest 100(1) Thorn Fire Quest 100(1) Thorn Fire Quest 100(1) Thorn Fire Quest 100



Comp #: 1001


Best Cost: $0$0$0$0


Location: Manager's unitManager's unitManager's unitManager's unit


Observations:

No unusual conditions observed at time of site visit. It appears that repairs are conducted on an as needed basis by on site maintenance staff. Therefore, at this time, separate Reserve funding is not required for this component.


Wood Fencing - Replace

General Notes:



Comp #: 1101


Best Cost: $9,500$9,500$9,500$9,500

Worst Cost: $10,500$10,500$10,500$10,500

Location: PoolPoolPoolPool

Quantity: (1) 14x34 pool(1) 14x34 pool(1) 14x34 pool(1) 14x34 pool

Observations:

Pool was covered and the cover reel was broken at time of observation so we were unable to observe the entire pool surface. However, the areas we were able to observe appeared in fair to poor condition with discoloration and missing "finish" noted. It is recommended by professionals that fiberglass pools be resurfaced every 8 - 9 years in this type of setting.


Estimate to resurface pool


Pool - Resurface

General Notes:



Comp #: 1102


Best Cost: $15,000$15,000$15,000$15,000

Worst Cost: $18,000$18,000$18,000$18,000


Quantity: (1) 11x8 spa(1) 11x8 spa(1) 11x8 spa(1) 11x8 spa

Observations:

Spa appeared in fair condition at time of observation. This spa is used year-round and therefore receives heavy amounts of use and the high temperatures and increased concentration of chemicals will likely shorten the life of the surface. Therefore, expect to replace this spa every 12 - 15 years.


Estimate to replace spa shell

Higher estimate for better quality

Spa - Replace

General Notes:



Comp #: 1108


Best Cost: $1,800$1,800$1,800$1,800

Worst Cost: $2,200$2,200$2,200$2,200


Quantity: (1) filter(1) filter(1) filter(1) filter

Observations:

Pool filter showed no signs of leaks or other problems at time of observation. Due to the ability to replace gaskets and seals without replacing the entire unit, we expect this filter to have a very long useful life if properly maintained. Expect to replace every 20 - 25 years.




Pool Filter - Replace

General Notes:

(1) STA Rite System 3 filter(1) STA Rite System 3 filter(1) STA Rite System 3 filter(1) STA Rite System 3 filter



Comp #: 1109


Best Cost: $1,200$1,200$1,200$1,200

Worst Cost: $1,500$1,500$1,500$1,500


Quantity: (1) filter(1) filter(1) filter(1) filter

Observations:

Pool filter showed no signs of leaks or other problems at time of observation. Due to the ability to replace gaskets and seals without replacing the entire unit, we expect this filter to have a very long useful life if properly maintained. Expect to replace every 20 - 25 years.




Spa Filter - Replace

General Notes:

(1) sand media filter(1) sand media filter(1) sand media filter(1) sand media filter



Comp #: 1121


Best Cost: $0$0$0$0




Observations:

Due to low quantity of furniture and the limited space around the pool area we recommend replacing furniture as needed using operating funds. No reserve funding necessary at this time.


Pool Furniture - Replace

General Notes:

Pool area - Pool area - Pool area - Pool area - (3) arm chairs (3) arm chairs (3) arm chairs (3) arm chairs



Comp #: 1126


Best Cost: $4,500$4,500$4,500$4,500

Worst Cost: $6,000$6,000$6,000$6,000


Quantity: ExtensiveExtensiveExtensiveExtensive

Observations:

At time of observation all equipment was functioning as expected with no reported or noted problems. Expect to replace various pieces of equipment every 5 - 10 years to stay current in terms of jurisdictional code, efficiency and "green" technology.


Allowance to replace needed equipment

Higher allowance for more needed equipment

Misc. Pool Equipment - Replace

General Notes:

Misc. pool equipment - Misc. pool equipment - Misc. pool equipment - Misc. pool equipment - (2) tab feeders (2) tab feeders (2) tab feeders (2) tab feedersPumps - Pumps - Pumps - Pumps - pool - pool - pool - pool - (1) Whisper-Flo (1) Whisper-Flo (1) Whisper-Flo (1) Whisper-Flo spa - spa - spa - spa - (2) Waterway pumps (2) Waterway pumps (2) Waterway pumps (2) Waterway pumps (1) Whisper-Flo pump (1) Whisper-Flo pump (1) Whisper-Flo pump (1) Whisper-Flo pump



Comp #: 1405


Best Cost: $8,000$8,000$8,000$8,000

Worst Cost: $10,000$10,000$10,000$10,000

Location: Main roomMain roomMain roomMain room


Observations:

Furniture was very dated and in need of replacement as soon as possible in order to restore appearance and to solicit higher levels of use. The more the clubhouse is used by residents, the more potential for increased property values in the community. Therefore, we recommend replacing furnishings every 5 - 6 years in order to ensure a proper appearance and a sanitary and comfortable environment.


Estimate to replace furniture

Higher estimate for better quality

Furnishings - Replace

General Notes:

Furnishings - Furnishings - Furnishings - Furnishings - (2) arm chairs, (2) loveseats, (1) coffee tables, (2) arm chairs, (2) loveseats, (1) coffee tables, (2) arm chairs, (2) loveseats, (1) coffee tables, (2) arm chairs, (2) loveseats, (1) coffee tables, (2) end tables, (1) dining table, (4) dining chairs, (2) end tables, (1) dining table, (4) dining chairs, (2) end tables, (1) dining table, (4) dining chairs, (2) end tables, (1) dining table, (4) dining chairs, (1) sofa table, (2) chairs (1) sofa table, (2) chairs (1) sofa table, (2) chairs (1) sofa table, (2) chairs



Comp #: 1409


Best Cost: $4,000$4,000$4,000$4,000

Worst Cost: $4,500$4,500$4,500$4,500


Quantity: (1) sauna(1) sauna(1) sauna(1) sauna

Observations:

Sauna in this clubhouse has a wood floor as well as wood walls and ceiling. Therefore, expect a higher cost to refurbish than the sauna in the large clubhouse. The wood appeared in fair condition at time of observation with no overt problems, but the room had a damp odor even with the heater turned off. Therefore, we recommend reserving to refurbish within the next 1 - 2 years to restore comfort and a sanitary atmosphere.


Estimate to refurbish sauna room


Sauna Room - Refurbish

General Notes:

Sauna - Sauna - Sauna - Sauna - cedar - 265 GSF cedar - 265 GSF cedar - 265 GSF cedar - 265 GSF



Comp #: 1410


Best Cost: $2,400$2,400$2,400$2,400

Worst Cost: $2,800$2,800$2,800$2,800



Observations:

Sauna heater appeared in fair condition with signs of deterioration noted at time of observation. Expect a useful life of approximately 12 years assuming normal use and wear.


Estimate to replace heater

Higher estimate for better quality heater

Sauna Heater - Replace

General Notes:

NOTE: Owner's sauna heater did not have an identification NOTE: Owner's sauna heater did not have an identification NOTE: Owner's sauna heater did not have an identification NOTE: Owner's sauna heater did not have an identification label/badge.label/badge.label/badge.label/badge.



Comp #: 1413


Best Cost: $18,000$18,000$18,000$18,000

Worst Cost: $20,000$20,000$20,000$20,000

Location: Owner's ClubhouseOwner's ClubhouseOwner's ClubhouseOwner's Clubhouse

Quantity: (2) restrooms(2) restrooms(2) restrooms(2) restrooms

Observations:

Restrooms were finished in a way that present a rustic appearance, however, due to the appearance of the cabinetry and the toilet partitions, we recommend a complete remodel of the space within the next 3 - 5 years to restore appearance. The decision of when to remodel and how much to spend is ultimately up to the board of directors because this is considered an aesthetic issue.


$9,000/restroom; Estimate to remodel

$10,000/restroom: Higher estimate for better qual.

Restroom - Remodel

General Notes:

Restrooms (mirrored) - Restrooms (mirrored) - Restrooms (mirrored) - Restrooms (mirrored) - Men's - Men's - Men's - Men's - (1) sink, (1) toilet, (1) shower, fiberglass (1) sink, (1) toilet, (1) shower, fiberglass (1) sink, (1) toilet, (1) shower, fiberglass (1) sink, (1) toilet, (1) shower, fiberglass Women's - Women's - Women's - Women's - (1) sink, (1) toilet, (1) shower, fiberglass (1) sink, (1) toilet, (1) shower, fiberglass (1) sink, (1) toilet, (1) shower, fiberglass (1) sink, (1) toilet, (1) shower, fiberglass



Comp #: 1501


Best Cost: $1,500$1,500$1,500$1,500

Worst Cost: $1,700$1,700$1,700$1,700

Location: Main roomMain roomMain roomMain room


Observations:

At time of observation, carpet appeared in good to fair condition. Carpet style appeared dated, but the overall condition was good. Expect to replace the carpet in this clubhouse on a slightly longer cycle than the large clubhouse due to the lower amount of foot traffic. We recommend planning for replacement every 8 - 10 years.


Estimate to replace carpet

Higher estimate for more labor/better quality

Carpeting - Replace

General Notes:



Comp #: 1503


Best Cost: $4,680$4,680$4,680$4,680

Worst Cost: $5,850$5,850$5,850$5,850

Location: Main entranceMain entranceMain entranceMain entrance


Observations:

Tile was aged in appearance at the main entrance, but in good condition with no broken tiles or apparent grout issues. The tile in the restrooms and pool area was slightly newer but more prone to damage due to the larger tile. Therefore, we believe the association should plan on replacing all tile at the same time in order to present a consistent appearance and to ensure proper function and safe walking surface. Expect to replace tile every 18 - 20 years.


$12/GSF: Estimate to replace

$15/GSF: Higher estimate for more labor

Tile - Replace

General Notes:

Main entrance - 180 GSFMain entrance - 180 GSFMain entrance - 180 GSFMain entrance - 180 GSFRestrooms - 210 GSFRestrooms - 210 GSFRestrooms - 210 GSFRestrooms - 210 GSF



Comp #: 1601


Best Cost: $2,600$2,600$2,600$2,600

Worst Cost: $3,250$3,250$3,250$3,250

Location: Owner's clubhouseOwner's clubhouseOwner's clubhouseOwner's clubhouse

Quantity: Approx. (13) FixturesApprox. (13) FixturesApprox. (13) FixturesApprox. (13) Fixtures

Observations:

Decorative fixtures in this clubhouse were very dated in appearance and should be replaced as soon as possible to update the décor. Expect to replace interior fixtures every 20 years to maintain current decorative trends and to ensure proper function and "green" technology.


$200; Estimate to replace and install new

$250/fixture; Higher estimate

Interior - Replace

General Notes:

Main Room - Main Room - Main Room - Main Room - (8) track lights (8) track lights (8) track lights (8) track lights (1) wall light (1) wall light (1) wall light (1) wall lightRestrooms - Restrooms - Restrooms - Restrooms - (4) ceiling lights (4) ceiling lights (4) ceiling lights (4) ceiling lights



Comp #: 1602


Best Cost: $0$0$0$0


Location: Exterior lightingExterior lightingExterior lightingExterior lighting


Observations:

Due to the low quantity of fixtures, we recommend replacing as needed using operating funds. No reserve funding necessary at this time.



General Notes:



Comp #: 1608


Best Cost: $0$0$0$0



Quantity: Appox. (9) fixturesAppox. (9) fixturesAppox. (9) fixturesAppox. (9) fixtures

Observations:

Due to these fixtures being standard equipment and the fact that they are kept in stock at local retailers, we recommend replacing as needed using operating funds. Frequently inspect the exit and emergency fixtures for proper function as a life safety issue. No reserve funding necessary at this time.


Multi-Purpose Lighting - Replace

General Notes:

main room - (3) exit, (1) emergmain room - (3) exit, (1) emergmain room - (3) exit, (1) emergmain room - (3) exit, (1) emergpool area - (3) spot, (2) exitpool area - (3) spot, (2) exitpool area - (3) spot, (2) exitpool area - (3) spot, (2) exit


Funding Summary For Treehouse Condominiums

Beginning Assumptions (from 2012 budget)Financial Information Source Research With Client# of units 249Fiscal Year End December 31, 2013Budgeted Monthly Dues $100,312Budgeted Monthly Reserve Allocation $17,575Projected Starting Reserve Balance $1,041,157Ideal Starting Reserve Balance $1,947,613

Economic Factors (For 2013)Past 20 year Average Inflation Rate 4.50%Past 20 year Average Interest Rate 1.00%

Current Reserve StatusCurrent Balance as a % of Ideal Balance 53%

RecommendationsMonthly Reserve Allocation (rest of 2013) $17,575

Average Per Unit $70.58Monthly Reserve Allocation (starting 2014) $28,800

Average Per Unit $115 66

1

Average Per Unit $115.66Minimum Monthly Reserve Allocation (starting 2014) $24,500

Average Per Unit $98.39Nominal Annual Increases 4.50%Special Assessment $0

Average Per Unit $0

Changes From Prior 2013 to 2014Increase/Decrease to Reserve Allocation $11,225

as Percentage 64%Average per unit $45.08

1

Percent Funded Graph For Treehouse Condominiums

80%

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Current

Minimum

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2

Component Inventory for Common Area Grounds

Category Asset # Asset Name UL RUL Best Cost Worst Cost

Drive Materials 401 Asphalt - Overlay (A) 24 5 $138,100 $159,000

401 Asphalt - Overlay (B) 24 9 $138,100 $159,000

402 Asphalt - Seal Coat/crack fill 4 0 $26,800 $33,500

Decking 607 Wood Paths - Replace N/A $0 $0

610 Steel Stairs/Landings - Replace N/A $0 $0

611 Slip Resistant Mats - Replace 4 1 $4,250 $5,000

622 Covered Stairway - Replace N/A $0 $0

Prop. Identification 801 Identification Sign - Replace 20 8 $4,500 $5,750

Fencing/Walls 1003 Chain Link Fencing - Replace 35 5 $12,600 $14,400

Courts 1201 Tennis Court Asphalt - Replace 35 0 $57,500 $65,000

1202 Tennis Court - Recoat/Paint 7 0 $6,000 $6,750

Recreation Equip. 1301 Play Equipment - Replace 17 15 $39,000 $46,000

1306 Park Furnishings - Replace 5 2 $2,500 $3,000

1311 Pet Waste Stations - Replace N/A $0 $0

Interiors 1423 Manager's Units - Remodel 4 0 $5,500 $6,250

Light Fixtures 1604 Pole Lights - Replace 28 5 $5,950 $7,000

3

Component Inventory for Buildings A - I


Roofing 105 Modified Bitumen - Replace (1) 20 6 $220,500 $249,900

105 Modified Bitumen - Replace (3) 20 13 $220,500 $249,900

105 Modified Bitumen - Replace (2) 20 10 $220,500 $249,900

123 Skylights - Replace (1) 20 6 $12,000 $15,000



Painted Surfaces 204 Building Ext Surfaces - Repaint 5 3 $130,500 $153,000

Siding Materials 301 Wood Siding - Major Repairs 5 3 $45,000 $54,000

Property Access 501 Doors - Partial Replacement 8 2 $20,250 $22,300

506 Unit Windows - Replace N/A $0 $0

Decking 606 Deck Railings - Replace N/A $0 $0

607 Wood Deck - Major Repairs 10 3 $12,000 $15,000

Mechanical Equip. 701 Boilers - Major Repairs (Bldg C) 5 1 $8,000 $10,000

701 Boilers - Replace (Bldg H) 20 15 $36,000 $42,000

701 Boilers - Major Repairs 7 3 $140,000 $160,000

701 Boilers - Replace (G,I) 35 19 $164,400 $178,800

701 Boilers - Replace (A,B,D) 35 17 $246,600 $268,200

701 Boilers - Replace (E,F) 35 18 $164,400 $178,800

702 Boilers - Replace (Bldg C) 35 16 $85,000 $100,000

703 Hot Water Storage Tank - Replace (06) 12 5 $32,000 $36,000

703 Hot Water Storage Tank - Replace (09, 1 12 9 $24,000 $27,000



706 Tankless Water Heaters - Replace 30 6 $49,500 $56,250

715 Pumps - Replace 3 1 $20,000 $25,000

721 Expansion Tanks - Replace 5 3 $15,000 $18,000

Security 901 Fire Protection System - Replace N/A $0 $0

Interiors 1424 Unit Building Interiors - Refurbish 5 1 $30,000 $36,000

Flooring 1506 Outdoor Carpet - Replace N/A $0 $0

Light Fixtures 1602 Wall Mounted Lights - Replace N/A $0 $0

4

Component Inventory for Buildings J - K


Roofing 105 Comp Shingle Roof - Replace 22 17 $42,000 $49,000

120 Gutters/Downspouts - Replace N/A $0 $0

121 Heat Tape - Replace N/A $0 $0

Painted Surfaces 204 Building Ext Surfaces - Reseal 5 0 $8,000 $10,000

Siding Materials 305 Wood Siding - Replace/Major Repairs 10 5 $8,000 $10,000

309 Stone/Rock Siding - Major Repairs N/A $0 $0

Property Access 501 Unit Doors - Replace N/A $0 $0

502 Garage Doors - Replace N/A $0 $0

Decking 601 Concrete Patios - Repair N/A $0 $0

606 Wood Deck - Replace 12 7 $15,300 $19,125

Fencing/Walls 1001 Wood/Iron Rails - Replace N/A $0 $0

1011 Retaining Wall - Replace 30 25 $14,500 $17,500

Light Fixtures 1602 Exterior Wall Mount - Replace 15 10 $3,000 $3,600

5

Component Inventory for Guest Clubhouse


Roofing 104 Flat Roof - Replace 17 7 $12,000 $13,125

105 Comp Shingle Roof - Replace 22 12 $47,500 $53,200

120 Gutters/Downspouts/Heat Tape - Replac N/A $0 $0


216 Interior Surfaces - Repaint 10 0 $9,530 $10,960

Siding Materials 301 Wood Siding - Major Repairs 15 5 $12,000 $15,000

309 Stone/Rock Siding - Major Repairs N/A $0 $0

Property Access 503 Common Area Doors - Replace 25 15 $16,250 $18,750

506 Windows - Replace 30 20 $75,600 $89,600

Decking 607 Wood Stairs/Deck - Replace 20 10 $8,000 $10,000

608 Pool Deck - Replace N/A $0 $0

Mechanical Equip. 702 Boiler - Replace 25 15 $16,000 $19,000

703 Water Heater - Replace 15 5 $4,500 $5,500

707 Elevator - Rebuild/Upgrade 25 15 $50,000 $60,000

709 Elevator Cab - Remodel 15 5 $12,000 $15,000

715 Pumps - Replace N/A $0 $0

721 Expansion Tanks - Replace 10 2 $3,500 $4,500

Security 901 Fire Protection System - Replace 25 15 $3,500 $3,850

903 Video Surveillance System - Replace 12 2 $8,500 $10,000

Pool/Spa 1101 Pool w/Spa - Resurface 9 4 $10,500 $11,600

1102 Spa - Resurface 6 1 $5,000 $6,000

1105 Pool Heater - Replace 12 2 $3,000 $3,500

1106 Spa Heaters - Replace 12 2 $7,500 $8,400

1108 Pool Filter - Replace 20 10 $3,600 $4,500

1121 Pool Furniture - Replace N/A $0 $0

1126 Misc. Pool Equipment - Replace 7 2 $8,500 $10,000

Recreation Equip. 1309 Ping Pong Table - Replace N/A $0 $0

Interiors 1401 Laundry Room - Remodel 20 10 $15,000 $18,000

1403 Kitchen - Remodel 15 5 $12,000 $15,000

1405 Furnishings - Replace 6 0 $18,000 $20,000

1406 Strength Equipment - Replace 15 8 $7,200 $9,000

1406 Cardio Equipment - Replace 10 3 $15,500 $20,500

1407 Wallpaper - Replace 10 0 $18,935 $22,375

1409 Sauna Room - Refurbish 15 5 $3,000 $4,500

1410 Sauna Heater - Replace 12 2 $2,400 $2,800

1413 Restrooms - Remodel 20 10 $24,000 $30,000

1421 Televisions - Replace N/A $0 $0

1429 Ceiling Tiles - Replace 15 5 $4,400 $4,800

1430 Wood Handrail - Replace N/A $0 $0

1430 Racquet Ball Court - Refurbish 8 0 $8,500 $9,000

Flooring 1501 Carpeting - Replace 6 0 $15,060 $17,570

1502 Vinyl Flooring - Replace 10 0 $10,950 $13,150

1503 Ceramic Tile - Replace 15 5 $33,400 $39,000

Light Fixtures 1601 Interior - Replace 20 10 $16,400 $20,500

1602 Exterior Wall Mount - Replace N/A $0 $0

1608 Multi-Purpose Lighting - Replace N/A $0 $0

6

Component Inventory for Owner's Clubhouse


Roofing 102 Mod. Bitumen Flat Roof - Replace 18 6 $4,000 $4,500

105 Comp Shingle Roof - Replace 22 4 $22,425 $25,350

120 Gutters/Downspouts/Heat Tape - Replac N/A $0 $0


216 Interior Surfaces - Repaint 10 0 $4,825 $5,550

Siding Materials 301 Wood Siding - Replace 10 0 $5,500 $6,250

Property Access 503 Doors - Replace 25 0 $2,600 $3,000

506 Windows - Replace 25 15 $10,400 $12,000

Decking 607 Wood Deck - Replace 25 10 $10,000 $12,500

608 Pool Deck - Replace N/A $0 $0

Mechanical Equip. 702 Boilers - Replace 20 7 $18,000 $22,000

703 Hot Water Storage Tank - Replace 16 12 $3,200 $3,500

717 Suspended Heaters - Replace 15 0 $1,200 $1,500

721 Expansion Tanks - Replace N/A $0 $0

Security 901 Fire Protection System - Replace 25 8 $2,000 $2,500

Fencing/Walls 1001 Wood Fencing - Replace N/A $0 $0

Pool/Spa 1101 Pool - Resurface 9 1 $9,500 $10,500

1102 Spa - Replace 15 4 $15,000 $18,000

1108 Pool Filter - Replace 25 10 $1,800 $2,200

1109 Spa Filter - Replace 25 5 $1,200 $1,500

1121 Pool Furniture - Replace N/A $0 $0

1126 Misc. Pool Equipment - Replace 7 4 $4,500 $6,000

Interiors 1405 Furnishings - Replace 6 0 $8,000 $10,000

1409 Sauna Room - Refurbish 15 2 $4,000 $4,500

1410 Sauna Heater - Replace 12 0 $2,400 $2,800

1413 Restroom - Remodel 20 5 $18,000 $20,000

Flooring 1501 Carpeting - Replace 10 3 $1,500 $1,700

1503 Tile - Replace 20 10 $4,680 $5,850

Light Fixtures 1601 Interior - Replace 20 0 $2,600 $3,250

1602 Exterior Wall Mount - Replace N/A $0 $0

1608 Multi-Purpose Lighting - Replace N/A $0 $0

7

Significant Components For Treehouse CondominiumsSignificance:(Curr Cost/UL)

Asset ID Asset Name UL RUL As $ As %COMMON AREA GROUNDS

401 Asphalt - Overlay (A) 24 5 $148,550 $6,190 2.5420%401 Asphalt - Overlay (B) 24 9 $148,550 $6,190 2.5420%402 Asphalt - Seal Coat/crack fill 4 0 $30,150 $7,538 3.0956%611 Slip Resistant Mats - Replace 4 1 $4,625 $1,156 0.4749%801 Identification Sign - Replace 20 8 $5,125 $256 0.1052%1003 Chain Link Fencing - Replace 35 5 $13,500 $386 0.1584%1201 Tennis Court Asphalt - Replace 35 0 $61,250 $1,750 0.7187%1202 Tennis Court - Recoat/Paint 7 0 $6,375 $911 0.3740%1301 Play Equipment - Replace 17 15 $42,500 $2,500 1.0267%1306 Park Furnishings - Replace 5 2 $2,750 $550 0.2259%1423 Manager's Units - Remodel 4 0 $5,875 $1,469 0.6032%1604 Pole Lights - Replace 28 5 $6,475 $231 0.0950%

BUILDINGS A-I105 Modified Bitumen - Replace (1) 20 6 $235,200 $11,760 4.8297%105 Modified Bitumen - Replace (2) 20 10 $235,200 $11,760 4.8297%105 Modified Bitumen - Replace (3) 20 13 $235,200 $11,760 4.8297%123 Skylights - Replace (1) 20 6 $13,500 $675 0.2772%123 Skylights - Replace (2) 20 10 $13,500 $675 0.2772%123 Skylights - Replace (3) 20 13 $13,500 $675 0.2772%204 Building Ext Surfaces - Repaint 5 3 $141,750 $28,350 11.6431%301 Wood Siding - Major Repairs 5 3 $49,500 $9,900 4.0659%501 Doors - Partial Replacement 8 2 $21,275 $2,659 1.0922%607 Wood Deck - Major Repairs 10 3 $13,500 $1,350 0.5544%701 Boilers - Major Repairs 7 3 $150,000 $21,429 8.8006%701 Boilers - Major Repairs (Bldg C) 5 1 $9,000 $1,800 0.7392%701 Boilers - Replace (A,B,D) 35 17 $257,400 $7,354 3.0204%701 Boilers - Replace (Bldg H) 20 15 $39,000 $1,950 0.8009%701 Boilers - Replace (E,F) 35 18 $171,600 $4,903 2.0136%701 Boilers - Replace (G,I) 35 19 $171,600 $4,903 2.0136%702 Boilers - Replace (Bldg C) 35 16 $92,500 $2,643 1.0854%703 Hot Water Storage Tank - Replace (05) 12 4 $34,000 $2,833 1.1636%703 Hot Water Storage Tank - Replace (06) 12 5 $34,000 $2,833 1.1636%703 Hot Water Storage Tank - Replace (07) 12 6 $51,000 $4,250 1.7454%703 Hot Water Storage Tank - Replace (09, 10, 11) 12 9 $25,500 $2,125 0.8727%706 Tankless Water Heaters - Replace 30 6 $52,875 $1,763 0.7238%715 Pumps - Replace 3 1 $22,500 $7,500 3.0802%721 Expansion Tanks - Replace 5 3 $16,500 $3,300 1.3553%1424 Unit Building Interiors - Refurbish 5 1 $33,000 $6,600 2.7106%

BUILDINGS J & K105 Comp Shingle Roof - Replace 22 17 $45,500 $2,068 0.8494%204 Building Ext Surfaces - Reseal 5 0 $9,000 $1,800 0.7392%305 Wood Siding - Replace/Major Repairs 10 5 $9,000 $900 0.3696%606 Wood Deck - Replace 12 7 $17,213 $1,434 0.5891%1011 Retaining Wall - Replace 30 25 $16,000 $533 0.2190%1602 Exterior Wall Mount - Replace 15 10 $3,300 $220 0.0904%

GUEST CLUBHOUSE104 Flat Roof - Replace 17 7 $12,563 $739 0.3035%105 Comp Shingle Roof - Replace 22 12 $50,350 $2,289 0.9399%204 Building Ext Surfaces - Repaint 5 0 $4,375 $875 0.3594%216 Interior Surfaces - Repaint 10 0 $10,245 $1,025 0.4208%301 Wood Siding - Major Repairs 15 5 $13,500 $900 0.3696%503 Common Area Doors - Replace 25 15 $17,500 $700 0.2875%506 Windows - Replace 30 20 $82,600 $2,753 1.1308%607 Wood Stairs/Deck - Replace 20 10 $9,000 $450 0.1848%702 Boiler - Replace 25 15 $17,500 $700 0.2875%

Ave Curr Cost

8

Significant Components For Treehouse CondominiumsSignificance:(UL/Curr Cost)

Asset ID Asset Name UL RUL As $ As %703 Water Heater - Replace 15 5 $5,000 $333 0.1369%707 Elevator - Rebuild/Upgrade 25 15 $55,000 $2,200 0.9035%709 Elevator Cab - Remodel 15 5 $13,500 $900 0.3696%721 Expansion Tanks - Replace 10 2 $4,000 $400 0.1643%901 Fire Protection System - Replace 25 15 $3,675 $147 0.0604%903 Video Surveillance System - Replace 12 2 $9,250 $771 0.3166%1101 Pool w/Spa - Resurface 9 4 $11,050 $1,228 0.5042%1102 Spa - Resurface 6 1 $5,500 $917 0.3765%1105 Pool Heater - Replace 12 2 $3,250 $271 0.1112%1106 Spa Heaters - Replace 12 2 $7,950 $663 0.2721%1108 Pool Filter - Replace 20 10 $4,050 $203 0.0832%1126 Misc. Pool Equipment - Replace 7 2 $9,250 $1,321 0.5427%1401 Laundry Room - Remodel 20 10 $16,500 $825 0.3388%1403 Kitchen - Remodel 15 5 $13,500 $900 0.3696%1405 Furnishings - Replace 6 0 $19,000 $3,167 1.3005%1406 Cardio Equipment - Replace 10 3 $18,000 $1,800 0.7392%1406 Strength Equipment - Replace 15 8 $8,100 $540 0.2218%1407 Wallpaper - Replace 10 0 $20,655 $2,066 0.8483%1409 Sauna Room - Refurbish 15 5 $3,750 $250 0.1027%1410 Sauna Heater - Replace 12 2 $2,600 $217 0.0890%1413 Restrooms - Remodel 20 10 $27,000 $1,350 0.5544%1429 Ceiling Tiles - Replace 15 5 $4,600 $307 0.1259%1430 Racquet Ball Court - Refurbish 8 0 $8,750 $1,094 0.4492%1501 Carpeting - Replace 6 0 $16,315 $2,719 1.1167%1502 Vinyl Flooring - Replace 10 0 $12,050 $1,205 0.4949%1503 Ceramic Tile - Replace 15 5 $36,200 $2,413 0.9911%1601 Interior - Replace 20 10 $18,450 $923 0.3789%

OWNERS CLUBHOUSE102 Mod. Bitumen Flat Roof - Replace 18 6 $4,250 $236 0.0970%105 Comp Shingle Roof - Replace 22 4 $23,888 $1,086 0.4459%204 Building Ext Surfaces - Repaint 5 0 $3,300 $660 0.2711%216 Interior Surfaces - Repaint 10 0 $5,188 $519 0.2130%301 Wood Siding - Replace 10 0 $5,875 $588 0.2413%503 Doors - Replace 25 0 $2,800 $112 0.0460%506 Windows - Replace 25 15 $11,200 $448 0.1840%607 Wood Deck - Replace 25 10 $11,250 $450 0.1848%702 Boilers - Replace 20 7 $20,000 $1,000 0.4107%703 Hot Water Storage Tank - Replace 16 12 $3,350 $209 0.0860%717 Suspended Heaters - Replace 15 0 $1,350 $90 0.0370%901 Fire Protection System - Replace 25 8 $2,250 $90 0.0370%1101 Pool - Resurface 9 1 $10,000 $1,111 0.4563%1102 Spa - Replace 15 4 $16,500 $1,100 0.4518%1108 Pool Filter - Replace 25 10 $2,000 $80 0.0329%1109 Spa Filter - Replace 25 5 $1,350 $54 0.0222%1126 Misc. Pool Equipment - Replace 7 4 $5,250 $750 0.3080%1405 Furnishings - Replace 6 0 $9,000 $1,500 0.6160%1409 Sauna Room - Refurbish 15 2 $4,250 $283 0.1164%1410 Sauna Heater - Replace 12 0 $2,600 $217 0.0890%1413 Restroom - Remodel 20 5 $19,000 $950 0.3902%1501 Carpeting - Replace 10 3 $1,600 $160 0.0657%1503 Tile - Replace 20 10 $5,265 $263 0.1081%1601 Interior - Replace 20 0 $2,925 $146 0.0601%

Ave Curr Cost

9

Significant Components Graph For Treehouse Condominiums

11% 9%5%

70%

Significant Components

204 Building Ext Surfaces - Repaint

701 Boilers - Major Repairs

105 Modified Bitumen - Replace (1)


All Other

Asset ID Asset name UL RUL As %204 Building Ext Surfaces - Repaint 5 3 $141,750 $28,350 12%701 Boilers - Major Repairs 7 3 $150,000 $21,429 9%105 Modified Bitumen - Replace (1) 20 6 $235,200 $11,760 5%105 Modified Bitumen - Replace (1) 20 6 $235,200 $11,760 5%

All Other See Expanded Table For Breakdown $170,193 70%

Ave Curr. Cost

Significance: (Curr Cost /UL)

11% 9%5%

5%70%

Significant Components

204 Building Ext Surfaces - Repaint

701 Boilers - Major Repairs



All Other

10

Yearly Summary For Treehouse Condominiums

Year2013 $1,947,613 $1,041,157 53% $175,750 $10,151 $237,0782014 $2,041,958 $989,981 48% $345,600 $11,237 $88,4332015 $2,307,332 $1,258,385 55% $361,152 $14,102 $70,5182016 $2,615,335 $1,563,121 60% $377,404 $15,358 $446,0252017 $2,557,297 $1,509,858 59% $394,387 $16,255 $177,9392018 $2,789,864 $1,742,562 62% $412,134 $17,427 $427,7212019 $2,785,528 $1,744,403 63% $430,680 $16,789 $577,0842020 $2,639,182 $1,614,789 61% $450,061 $17,889 $118,2592021 $2,980,634 $1,964,480 66% $470,314 $20,183 $381,1232022 $3,078,340 $2,073,853 67% $491,478 $21,900 $279,2742023 $3,303,158 $2,307,957 70% $513,594 $20,929 $962,8062024 $2,840,818 $1,879,674 66% $536,706 $21,194 $76,6802025 $3,301,457 $2,360,895 72% $560,858 $25,313 $243,1722026 $3,627,421 $2,703,893 75% $586,097 $25,361 $944,9792027 $3,254,084 $2,370,371 73% $612,471 $26,615 $54,4932028 $3,814,796 $2,954,964 77% $640,032 $30,826 $412,9892029 $4,047,318 $3,212,833 79% $668,834 $33,146 $495,5312030 $4,226,205 $3,419,282 81% $698,931 $32,569 $1,053,5712031 $3,853,148 $3,097,210 80% $730,383 $29,223 $1,106,8672032 $3,431,806 $2,749,949 80% $763,250 $28,639 $561,5312033 $3,586,669 $2,980,307 83% $797,597 $30,527 $680,7972034 $3,650,293 $3,127,634 86% $833,488 $34,613 $197,8392035 $4,249,085 $3,797,896 89% $870,995 $22,165 $106,1362036 $4,999,510 $4,604,751 92% $910,190 $25,896 $710,6092037 $5 182 185 $4 851 593 94% $951 149 $26 806 $743 457

Interest Income

Reserve Expenses

Starting Reserve Balance

Percent Funded

Annual Reserve Contribs

Fully Funded Balance

11

2037 $5,182,185 $4,851,593 94% $951,149 $26,806 $743,4572038 $5,370,268 $5,109,067 95% $993,950 $30,073 $314,5192039 $6,047,985 $5,843,237 97% $1,038,678 $31,818 $1,127,2292040 $5,941,330 $5,812,943 98% $1,085,419 $35,177 $74,6662041 $6,965,766 $6,887,169 99% $1,134,263 $39,039 $1,115,0812042 $6,986,647 $6,975,635 100% $1,185,304 $40,372 $670,842

11

Yearly Contributions Graph For Treehouse Condominiums

$60 000

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12

Component Funding Information For Treehouse Condominiums

Asset Name MonthlyCOMMON AREA GROUNDS

401 Asphalt - Overlay (A) $148,550 $185,120 $117,602 $117,602 $446.76401 Asphalt - Overlay (B) $148,550 $220,759 $92,844 $0 $446.76402 Asphalt - Seal Coat/crack fill $30,150 $35,954 $30,150 $30,150 $544.05611 Slip Resistant Mats - Replace $4,625 $4,833 $3,469 $3,469 $83.46801 Identification Sign - Replace $5,125 $7,288 $3,075 $0 $18.501003 Chain Link Fencing - Replace $13,500 $16,823 $11,571 $11,571 $27.841201 Tennis Court Asphalt - Replace $61,250 $285,875 $61,250 $61,250 $126.311202 Tennis Court - Recoat/Paint $6,375 $8,675 $6,375 $6,375 $65.731301 Play Equipment - Replace $42,500 $82,250 $5,000 $0 $180.451306 Park Furnishings - Replace $2,750 $3,003 $1,650 $1,650 $39.701423 Manager's Units - Remodel $5,875 $7,006 $5,875 $5,875 $106.011604 Pole Lights - Replace $6,475 $8,069 $5,319 $5,319 $16.69

BUILDINGS A-I105 Modified Bitumen - Replace (1) $235,200 $306,292 $164,640 $164,640 $848.83105 Modified Bitumen - Replace (2) $235,200 $365,258 $117,600 $0 $848.83105 Modified Bitumen - Replace (3) $235,200 $416,821 $82,320 $0 $848.83123 Skylights - Replace (1) $13,500 $17,581 $9,450 $9,450 $48.72123 Skylights - Replace (2) $13,500 $20,965 $6,750 $0 $48.72123 Skylights - Replace (3) $13,500 $23,925 $4,725 $0 $48.72204 Building Ext Surfaces - Repaint $141,750 $161,760 $56,700 $56,700 $2,046.28301 Wood Siding - Major Repairs $49,500 $56,488 $19,800 $19,800 $714.57501 Doors - Partial Replacement $21,275 $23,233 $15,956 $15,956 $191.95607 Wood Deck - Major Repairs $13,500 $15,406 $9,450 $9,450 $97.44701 Boilers - Major Repairs $150,000 $171,175 $85,714 $85,714 $1,546.70701 Boilers - Major Repairs (Bldg C) $9,000 $9,405 $7,200 $7,200 $129.92701 Boilers - Replace (A,B,D) $257,400 $543,983 $132,377 $0 $530.83701 Boilers - Replace (Bldg H) $39,000 $75,476 $9,750 $0 $140.75701 Boilers - Replace (E,F) $171,600 $378,975 $83,349 $0 $353.88701 Boilers - Replace (G,I) $171,600 $396,029 $78,446 $0 $353.88702 Boilers - Replace (Bldg C) $92,500 $187,069 $50,214 $0 $190.76703 Hot Water Storage Tank - Replace (05) $34,000 $40,546 $22,667 $22,667 $204.51703 Hot Water Storage Tank - Replace (06) $34,000 $42,370 $19,833 $19,833 $204.51703 Hot Water Storage Tank - Replace (07) $51,000 $66,415 $25,500 $25,270 $306.76703 Hot Water Storage Tank - Replace (09, 10$25,500 $37,895 $6,375 $0 $153.38706 Tankless Water Heaters - Replace $52,875 $68,857 $42,300 $0 $127.22715 Pumps - Replace $22,500 $23,513 $15,000 $15,000 $541.34721 Expansion Tanks - Replace $16,500 $18,829 $6,600 $6,600 $238.191424 Unit Building Interiors - Refurbish $33,000 $34,485 $26,400 $26,400 $476.38

BUILDINGS J & K105 Comp Shingle Roof - Replace $45,500 $96,159 $10,341 $0 $149.28204 Building Ext Surfaces - Reseal $9,000 $11,216 $9,000 $9,000 $129.92305 Wood Siding - Replace/Major Repairs $9,000 $11,216 $4,500 $4,500 $64.96606 Wood Deck - Replace $17,213 $23,424 $7,172 $0 $103.531011 Retaining Wall - Replace $16,000 $48,087 $2,667 $0 $38.501602 Exterior Wall Mount - Replace $3,300 $5,125 $1,100 $0 $15.88

GUEST CLUBHOUSE104 Flat Roof - Replace $12,563 $17,096 $7,390 $0 $53.34105 Comp Shingle Roof - Replace $50,350 $85,388 $22,886 $0 $165.19204 Building Ext Surfaces - Repaint $4,375 $5,452 $4,375 $4,375 $63.16216 Interior Surfaces - Repaint $10,245 $15,910 $10,245 $10,245 $73.95301 Wood Siding - Major Repairs $13,500 $16,823 $9,000 $9,000 $64.96503 Common Area Doors - Replace $17,500 $33,867 $7,000 $0 $50.53

Current Fund BalanceID

Ave Current Cost Future Cost

Ideal Balance

13


Asset Name Monthly506 Windows - Replace $82,600 $199,208 $27,533 $0 $198.73607 Wood Stairs/Deck - Replace $9,000 $13,977 $4,500 $0 $32.48702 Boiler - Replace $17,500 $33,867 $7,000 $0 $50.53703 Water Heater - Replace $5,000 $6,231 $3,333 $3,333 $24.06707 Elevator - Rebuild/Upgrade $55,000 $106,441 $22,000 $0 $158.79709 Elevator Cab - Remodel $13,500 $16,823 $9,000 $9,000 $64.96721 Expansion Tanks - Replace $4,000 $4,368 $3,200 $3,200 $28.87901 Fire Protection System - Replace $3,675 $7,112 $1,470 $0 $10.61903 Video Surveillance System - Replace $9,250 $10,101 $7,708 $7,708 $55.641101 Pool w/Spa - Resurface $11,050 $13,177 $6,139 $6,139 $88.621102 Spa - Resurface $5,500 $5,748 $4,583 $4,583 $66.161105 Pool Heater - Replace $3,250 $3,549 $2,708 $2,708 $19.551106 Spa Heaters - Replace $7,950 $8,682 $6,625 $6,625 $47.821108 Pool Filter - Replace $4,050 $6,290 $2,025 $0 $14.621126 Misc. Pool Equipment - Replace $9,250 $10,101 $6,607 $6,607 $95.381401 Laundry Room - Remodel $16,500 $25,624 $8,250 $0 $59.551403 Kitchen - Remodel $13,500 $16,823 $9,000 $9,000 $64.961405 Furnishings - Replace $19,000 $24,743 $19,000 $19,000 $228.571406 Cardio Equipment - Replace $18,000 $20,541 $12,600 $12,600 $129.921406 Strength Equipment - Replace $8,100 $11,519 $3,780 $0 $38.981407 Wallpaper - Replace $20,655 $32,077 $20,655 $20,655 $149.091409 Sauna Room - Refurbish $3,750 $4,673 $2,500 $2,500 $18.041410 Sauna Heater - Replace $2,600 $2,839 $2,167 $2,167 $15.641413 Restrooms - Remodel $27,000 $41,930 $13,500 $0 $97.441429 Ceiling Tiles - Replace $4,600 $5,732 $3,067 $3,067 $22.131430 Racquet Ball Court - Refurbish $8,750 $12,443 $8,750 $8,750 $78.951501 Carpeting - Replace $16,315 $21,246 $16,315 $16,315 $196.271502 Vinyl Flooring - Replace $12,050 $18,713 $12,050 $12,050 $86.981503 Ceramic Tile - Replace $36,200 $45,112 $24,133 $24,133 $174.191601 Interior - Replace $18,450 $28,652 $9,225 $0 $66.59

OWNERS CLUBHOUSE102 Mod. Bitumen Flat Roof - Replace $4,250 $5,535 $2,833 $0 $17.04105 Comp Shingle Roof - Replace $23,888 $28,486 $19,544 $19,544 $78.37204 Building Ext Surfaces - Repaint $3,300 $4,112 $3,300 $3,300 $47.64216 Interior Surfaces - Repaint $5,188 $8,056 $5,188 $5,188 $37.44301 Wood Siding - Replace $5,875 $9,124 $5,875 $5,875 $42.41503 Doors - Replace $2,800 $8,415 $2,800 $2,800 $8.08506 Windows - Replace $11,200 $21,675 $4,480 $0 $32.34607 Wood Deck - Replace $11,250 $17,471 $6,750 $0 $32.48702 Boilers - Replace $20,000 $27,217 $13,000 $0 $72.18703 Hot Water Storage Tank - Replace $3,350 $5,681 $838 $0 $15.11717 Suspended Heaters - Replace $1,350 $2,613 $1,350 $1,350 $6.50901 Fire Protection System - Replace $2,250 $3,200 $1,530 $0 $6.501101 Pool - Resurface $10,000 $10,450 $8,889 $8,889 $80.201102 Spa - Replace $16,500 $19,677 $12,100 $12,100 $79.401108 Pool Filter - Replace $2,000 $3,106 $1,200 $0 $5.771109 Spa Filter - Replace $1,350 $1,682 $1,080 $1,080 $3.901126 Misc. Pool Equipment - Replace $5,250 $6,261 $2,250 $2,250 $54.131405 Furnishings - Replace $9,000 $11,720 $9,000 $9,000 $108.271409 Sauna Room - Refurbish $4,250 $4,641 $3,683 $3,683 $20.45

IDAve Current Cost Future Cost

Ideal Balance

Current Fund Balance

14


Asset Name Monthly1410 Sauna Heater - Replace $2,600 $4,409 $2,600 $2,600 $15.641413 Restroom - Remodel $19,000 $23,677 $14,250 $14,250 $68.571501 Carpeting - Replace $1,600 $1,826 $1,120 $1,120 $11.551503 Tile - Replace $5,265 $8,176 $2,633 $0 $19.001601 Interior - Replace $2,925 $7,054 $2,925 $2,925 $10.56

IDAve Current Cost Future Cost

Ideal Balance

Current Fund Balance

15

Yearly Cash Flow For Treehouse Condominiums

Year 2013 2014 2015 2016 2017Starting Balance $1,041,157 $989,981 $1,258,385 $1,563,121 $1,509,858 Reserve Income $175,750 $345,600 $361,152 $377,404 $394,387 Interest Earnings $10,151 $11,237 $14,102 $15,358 $16,255 Loan Payback $0 $0 $0 $0 $0Funds Available $1,227,058 $1,346,818 $1,633,638 $1,955,883 $1,920,500Reserve Expenditures $237,078 $88,433 $70,518 $446,025 $177,939Ending Balance $989,981 $1,258,385 $1,563,121 $1,509,858 $1,742,562

Year 2018 2019 2020 2021 2022Starting Balance $1,742,562 $1,744,403 $1,614,789 $1,964,480 $2,073,853 Reserve Income $412,134 $430,680 $450,061 $470,314 $491,478 Interest Earnings $17,427 $16,789 $17,889 $20,183 $21,900 Special Assessments $0 $0 $0 $0 $0Funds Available $2,172,124 $2,191,872 $2,082,738 $2,454,976 $2,587,231Reserve Expenditures $427,721 $577,084 $118,259 $381,123 $279,274Ending Balance $1,744,403 $1,614,789 $1,964,480 $2,073,853 $2,307,957


Year 2028 2029 2030 2031 2032

16

Year 2028 2029 2030 2031 2032Starting Balance $2,954,964 $3,212,833 $3,419,282 $3,097,210 $2,749,949 Reserve Income $640,032 $668,834 $698,931 $730,383 $763,250 Interest Earnings $30,826 $33,146 $32,569 $29,223 $28,639 Special Assessments $0 $0 $0 $0 $0Funds Available $3,625,822 $3,914,813 $4,150,782 $3,856,817 $3,541,839Reserve Expenditures $412,989 $495,531 $1,053,571 $1,106,867 $561,531Ending Balance $3,212,833 $3,419,282 $3,097,210 $2,749,949 $2,980,307


Year 2038 2039 2040 2041 2042Starting Balance $5,109,067 $5,843,237 $5,812,943 $6,887,169 $6,975,635 Reserve Income $993,950 $1,038,678 $1,085,419 $1,134,263 $1,185,304 Interest Earnings $54,738 $58,256 $63,474 $69,285 $72,661 Special Assessments $0 $0 $0 $0 $0Funds Available $6,157,756 $6,940,172 $6,961,835 $8,090,716 $8,233,601Reserve Expenditures $314,519 $1,127,229 $74,666 $1,115,081 $670,842Ending Balance $5,843,237 $5,812,943 $6,887,169 $6,975,635 $7,562,758

16

Yearly Expenditures Graph For Treehouse Condominiums

$1,000,000

$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000

al T

otal

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Reserve Expenditures

$-

$200,000

$400,000

$600,000

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$1,200,000

$1,400,000

$1,600,000

$1,800,000

$2,000,000 2

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Reserve Expenditures

17

Projected Reserve Expenditures For Treehouse CondominiumsProjected

Year Sub Group Asset ID Asset Name Cost2013 Common Area Grounds 402 Asphalt - Seal Coat/crack fill $30,150

Common Area Grounds 1201 Tennis Court Asphalt - Replace $61,250Common Area Grounds 1202 Tennis Court - Recoat/Paint $6,375Common Area Grounds 1423 Manager's Units - Remodel $5,875Buildings J & K 204 Building Ext Surfaces - Reseal $9,000Guest Clubhouse 204 Building Ext Surfaces - Repaint $4,375Guest Clubhouse 216 Interior Surfaces - Repaint $10,245Guest Clubhouse 1405 Furnishings - Replace $19,000Guest Clubhouse 1407 Wallpaper - Replace $20,655Guest Clubhouse 1430 Racquet Ball Court - Refurbish $8,750Guest Clubhouse 1501 Carpeting - Replace $16,315Guest Clubhouse 1502 Vinyl Flooring - Replace $12,050Owners Clubhouse 204 Building Ext Surfaces - Repaint $3,300Owners Clubhouse 216 Interior Surfaces - Repaint $5,188Owners Clubhouse 301 Wood Siding - Replace $5,875Owners Clubhouse 503 Doors - Replace $2,800Owners Clubhouse 717 Suspended Heaters - Replace $1,350Owners Clubhouse 1405 Furnishings - Replace $9,000Owners Clubhouse 1410 Sauna Heater - Replace $2,600Owners Clubhouse 1601 Interior - Replace $2,925 $237,078

2014 Common Area Grounds 611 Slip Resistant Mats - Replace $4,833Buildings A-I 701 Boilers - Major Repairs (Bldg C) $9,405Buildings A-I 715 Pumps - Replace $23,513Buildings A-I 1424 Unit Building Interiors - Refurbish $34,485Guest Clubhouse 1102 Spa - Resurface $5,748Owners Clubhouse 1101 Pool - Resurface $10,450 $88,433

2015 Common Area Grounds 1306 Park Furnishings - Replace $3,003Buildings A-I 501 Doors - Partial Replacement $23,233Guest Clubhouse 721 Expansion Tanks - Replace $4,368Guest Clubhouse 903 Video Surveillance System - Replace $10,101Guest Clubhouse 1105 Pool Heater - Replace $3,549Guest Clubhouse 1106 Spa Heaters - Replace $8,682Guest Clubhouse 1126 Misc. Pool Equipment - Replace $10,101Guest Clubhouse 1410 Sauna Heater - Replace $2,839Owners Clubhouse 1409 Sauna Room - Refurbish $4,641 $70,518

2016 Buildings A-I 204 Building Ext Surfaces - Repaint $161,760Buildings A-I 301 Wood Siding - Major Repairs $56,488Buildings A-I 607 Wood Deck - Major Repairs $15,406Buildings A-I 701 Boilers - Major Repairs $171,175Buildings A-I 721 Expansion Tanks - Replace $18,829Guest Clubhouse 1406 Cardio Equipment - Replace $20,541Owners Clubhouse 1501 Carpeting - Replace $1,826 $446,025

2017 Common Area Grounds 402 Asphalt - Seal Coat/crack fill $35,954Common Area Grounds 1423 Manager's Units - Remodel $7,006Buildings A-I 703 Hot Water Storage Tank - Replace (05) $40,546Buildings A-I 715 Pumps - Replace $26,832Guest Clubhouse 1101 Pool w/Spa - Resurface $13,177Owners Clubhouse 105 Comp Shingle Roof - Replace $28,486Owners Clubhouse 1102 Spa - Replace $19,677Owners Clubhouse 1126 Misc. Pool Equipment - Replace $6,261 $177,939

2018 Common Area Grounds 401 Asphalt - Overlay (A) $185,120Common Area Grounds 611 Slip Resistant Mats - Replace $5,764

Total Per Annum

18

Projected Reserve Expenditures For Treehouse Condominiums

Year Sub Group Asset ID Asset Name Projected CostCommon Area Grounds 1003 Chain Link Fencing - Replace $16,823Common Area Grounds 1604 Pole Lights - Replace $8,069Buildings A-I 703 Hot Water Storage Tank - Replace (06) $42,370Buildings J & K 204 Building Ext Surfaces - Reseal $11,216Buildings J & K 305 Wood Siding - Replace/Major Repairs $11,216Guest Clubhouse 204 Building Ext Surfaces - Repaint $5,452Guest Clubhouse 301 Wood Siding - Major Repairs $16,823Guest Clubhouse 703 Water Heater - Replace $6,231Guest Clubhouse 709 Elevator Cab - Remodel $16,823Guest Clubhouse 1403 Kitchen - Remodel $16,823Guest Clubhouse 1409 Sauna Room - Refurbish $4,673Guest Clubhouse 1429 Ceiling Tiles - Replace $5,732Guest Clubhouse 1503 Ceramic Tile - Replace $45,112Owners Clubhouse 204 Building Ext Surfaces - Repaint $4,112Owners Clubhouse 1109 Spa Filter - Replace $1,682Owners Clubhouse 1413 Restroom - Remodel $23,677 $427,721

2019 Buildings A-I 105 Modified Bitumen - Replace (1) $306,292Buildings A-I 123 Skylights - Replace (1) $17,581Buildings A-I 701 Boilers - Major Repairs (Bldg C) $11,720Buildings A-I 703 Hot Water Storage Tank - Replace (07) $66,415Buildings A-I 706 Tankless Water Heaters - Replace $68,857Buildings A-I 1424 Unit Building Interiors - Refurbish $42,975Guest Clubhouse 1405 Furnishings - Replace $24,743Guest Clubhouse 1501 Carpeting - Replace $21,246Owners Clubhouse 102 Mod. Bitumen Flat Roof - Replace $5,535Owners Clubhouse 1405 Furnishings - Replace $11,720 $577,084

2020 Common Area Grounds 1202 Tennis Court - Recoat/Paint $8,675Common Area Grounds 1306 Park Furnishings - Replace $3,742Buildings A-I 715 Pumps - Replace $30,619Buildings J & K 606 Wood Deck - Replace $23,424Guest Clubhouse 104 Flat Roof - Replace $17,096Guest Clubhouse 1102 Spa - Resurface $7,485Owners Clubhouse 702 Boilers - Replace $27,217 $118,259

2021 Common Area Grounds 402 Asphalt - Seal Coat/crack fill $42,876Common Area Grounds 801 Identification Sign - Replace $7,288Common Area Grounds 1423 Manager's Units - Remodel $8,355Buildings A-I 204 Building Ext Surfaces - Repaint $201,583Buildings A-I 301 Wood Siding - Major Repairs $70,394Buildings A-I 721 Expansion Tanks - Replace $23,465Guest Clubhouse 1406 Strength Equipment - Replace $11,519Guest Clubhouse 1430 Racquet Ball Court - Refurbish $12,443Owners Clubhouse 901 Fire Protection System - Replace $3,200 $381,123

2022 Common Area Grounds 401 Asphalt - Overlay (B) $220,759Common Area Grounds 611 Slip Resistant Mats - Replace $6,873Buildings A-I 703 Hot Water Storage Tank - Replace (09, 10, 11 $37,895Guest Clubhouse 1126 Misc. Pool Equipment - Replace $13,746 $279,274

2023 Buildings A-I 105 Modified Bitumen - Replace (2) $365,258Buildings A-I 123 Skylights - Replace (2) $20,965Buildings A-I 501 Doors - Partial Replacement $33,039Buildings A-I 701 Boilers - Major Repairs $232,945Buildings A-I 715 Pumps - Replace $34,942Buildings J & K 204 Building Ext Surfaces - Reseal $13,977

Total Per Annum

19


Year Sub Group Asset ID Asset Name Projected CostBuildings J & K 1602 Exterior Wall Mount - Replace $5,125Guest Clubhouse 204 Building Ext Surfaces - Repaint $6,794Guest Clubhouse 216 Interior Surfaces - Repaint $15,910Guest Clubhouse 607 Wood Stairs/Deck - Replace $13,977Guest Clubhouse 1108 Pool Filter - Replace $6,290Guest Clubhouse 1401 Laundry Room - Remodel $25,624Guest Clubhouse 1407 Wallpaper - Replace $32,077Guest Clubhouse 1413 Restrooms - Remodel $41,930Guest Clubhouse 1502 Vinyl Flooring - Replace $18,713Guest Clubhouse 1601 Interior - Replace $28,652Owners Clubhouse 204 Building Ext Surfaces - Repaint $5,125Owners Clubhouse 216 Interior Surfaces - Repaint $8,056Owners Clubhouse 301 Wood Siding - Replace $9,124Owners Clubhouse 607 Wood Deck - Replace $17,471Owners Clubhouse 1101 Pool - Resurface $15,530Owners Clubhouse 1108 Pool Filter - Replace $3,106Owners Clubhouse 1503 Tile - Replace $8,176 $962,806

2024 Buildings A-I 701 Boilers - Major Repairs (Bldg C) $14,606Buildings A-I 1424 Unit Building Interiors - Refurbish $53,554Owners Clubhouse 1126 Misc. Pool Equipment - Replace $8,520 $76,680

2025 Common Area Grounds 402 Asphalt - Seal Coat/crack fill $51,131Common Area Grounds 1306 Park Furnishings - Replace $4,664Common Area Grounds 1423 Manager's Units - Remodel $9,963Guest Clubhouse 105 Comp Shingle Roof - Replace $85,388Guest Clubhouse 721 Expansion Tanks - Replace $6,784Guest Clubhouse 1405 Furnishings - Replace $32,222Guest Clubhouse 1501 Carpeting - Replace $27,668Owners Clubhouse 703 Hot Water Storage Tank - Replace $5,681Owners Clubhouse 1405 Furnishings - Replace $15,263Owners Clubhouse 1410 Sauna Heater - Replace $4,409 $243,172

2026 Common Area Grounds 611 Slip Resistant Mats - Replace $8,196Buildings A-I 105 Modified Bitumen - Replace (3) $416,821Buildings A-I 123 Skylights - Replace (3) $23,925Buildings A-I 204 Building Ext Surfaces - Repaint $251,209Buildings A-I 301 Wood Siding - Major Repairs $87,724Buildings A-I 607 Wood Deck - Major Repairs $23,925Buildings A-I 715 Pumps - Replace $39,874Buildings A-I 721 Expansion Tanks - Replace $29,241Guest Clubhouse 1101 Pool w/Spa - Resurface $19,583Guest Clubhouse 1102 Spa - Resurface $9,747Guest Clubhouse 1406 Cardio Equipment - Replace $31,900Owners Clubhouse 1501 Carpeting - Replace $2,836 $944,979

2027 Common Area Grounds 1202 Tennis Court - Recoat/Paint $11,806Guest Clubhouse 903 Video Surveillance System - Replace $17,130Guest Clubhouse 1105 Pool Heater - Replace $6,019Guest Clubhouse 1106 Spa Heaters - Replace $14,723Guest Clubhouse 1410 Sauna Heater - Replace $4,815 $54,493

2028 Common Area Grounds 1301 Play Equipment - Replace $82,250Buildings A-I 701 Boilers - Replace (Bldg H) $75,476Buildings J & K 204 Building Ext Surfaces - Reseal $17,418Buildings J & K 305 Wood Siding - Replace/Major Repairs $17,418Guest Clubhouse 204 Building Ext Surfaces - Repaint $8,467

Total Per Annum

20


Year Sub Group Asset ID Asset Name Projected CostGuest Clubhouse 503 Common Area Doors - Replace $33,867Guest Clubhouse 702 Boiler - Replace $33,867Guest Clubhouse 707 Elevator - Rebuild/Upgrade $106,441Guest Clubhouse 901 Fire Protection System - Replace $7,112Owners Clubhouse 204 Building Ext Surfaces - Repaint $6,386Owners Clubhouse 506 Windows - Replace $21,675Owners Clubhouse 717 Suspended Heaters - Replace $2,613 $412,989

2029 Common Area Grounds 402 Asphalt - Seal Coat/crack fill $60,974Common Area Grounds 1423 Manager's Units - Remodel $11,881Buildings A-I 701 Boilers - Major Repairs (Bldg C) $18,201Buildings A-I 702 Boilers - Replace (Bldg C) $187,069Buildings A-I 703 Hot Water Storage Tank - Replace (05) $68,761Buildings A-I 715 Pumps - Replace $45,503Buildings A-I 1424 Unit Building Interiors - Refurbish $66,738Guest Clubhouse 1126 Misc. Pool Equipment - Replace $18,707Guest Clubhouse 1430 Racquet Ball Court - Refurbish $17,696 $495,531

2030 Common Area Grounds 611 Slip Resistant Mats - Replace $9,774Common Area Grounds 1306 Park Furnishings - Replace $5,812Buildings A-I 701 Boilers - Major Repairs $317,007Buildings A-I 701 Boilers - Replace (A,B,D) $543,983Buildings A-I 703 Hot Water Storage Tank - Replace (06) $71,855Buildings J & K 105 Comp Shingle Roof - Replace $96,159Owners Clubhouse 1409 Sauna Room - Refurbish $8,982 $1,053,571

2031 Buildings A-I 204 Building Ext Surfaces - Repaint $313,052Buildings A-I 301 Wood Siding - Major Repairs $109,320Buildings A-I 501 Doors - Partial Replacement $46,985Buildings A-I 701 Boilers - Replace (E,F) $378,975Buildings A-I 703 Hot Water Storage Tank - Replace (07) $112,632Buildings A-I 721 Expansion Tanks - Replace $36,440Guest Clubhouse 1405 Furnishings - Replace $41,961Guest Clubhouse 1501 Carpeting - Replace $36,031Owners Clubhouse 1126 Misc. Pool Equipment - Replace $11,595Owners Clubhouse 1405 Furnishings - Replace $19,876 $1,106,867

2032 Buildings A-I 701 Boilers - Replace (G,I) $396,029Buildings A-I 715 Pumps - Replace $51,927Buildings J & K 606 Wood Deck - Replace $39,724Guest Clubhouse 1102 Spa - Resurface $12,693Owners Clubhouse 1101 Pool - Resurface $23,079Owners Clubhouse 1102 Spa - Replace $38,080 $561,531

2033 Common Area Grounds 402 Asphalt - Seal Coat/crack fill $72,713Common Area Grounds 1423 Manager's Units - Remodel $14,169Buildings J & K 204 Building Ext Surfaces - Reseal $21,705Guest Clubhouse 204 Building Ext Surfaces - Repaint $10,551Guest Clubhouse 216 Interior Surfaces - Repaint $24,708Guest Clubhouse 301 Wood Siding - Major Repairs $32,558Guest Clubhouse 506 Windows - Replace $199,208Guest Clubhouse 703 Water Heater - Replace $12,059Guest Clubhouse 709 Elevator Cab - Remodel $32,558Guest Clubhouse 1403 Kitchen - Remodel $32,558Guest Clubhouse 1407 Wallpaper - Replace $49,814Guest Clubhouse 1409 Sauna Room - Refurbish $9,044Guest Clubhouse 1429 Ceiling Tiles - Replace $11,094

Total Per Annum

21


Year Sub Group Asset ID Asset Name Projected CostGuest Clubhouse 1502 Vinyl Flooring - Replace $29,061Guest Clubhouse 1503 Ceramic Tile - Replace $87,304Owners Clubhouse 204 Building Ext Surfaces - Repaint $7,959Owners Clubhouse 216 Interior Surfaces - Repaint $12,511Owners Clubhouse 301 Wood Siding - Replace $14,169Owners Clubhouse 1601 Interior - Replace $7,054 $680,797

2033 Common Area Grounds 611 Slip Resistant Mats - Replace $11,656Common Area Grounds 1202 Tennis Court - Recoat/Paint $16,067Buildings A-I 701 Boilers - Major Repairs (Bldg C) $22,682Buildings A-I 703 Hot Water Storage Tank - Replace (09, 10, 11 $64,266Buildings A-I 1424 Unit Building Interiors - Refurbish $83,168 $197,839

2035 Common Area Grounds 1306 Park Furnishings - Replace $7,243Buildings A-I 715 Pumps - Replace $59,257Guest Clubhouse 721 Expansion Tanks - Replace $10,535Guest Clubhouse 1101 Pool w/Spa - Resurface $29,102 $106,136

2036 Buildings A-I 204 Building Ext Surfaces - Repaint $390,120Buildings A-I 301 Wood Siding - Major Repairs $136,232Buildings A-I 607 Wood Deck - Major Repairs $37,154Buildings A-I 721 Expansion Tanks - Replace $45,411Guest Clubhouse 1126 Misc. Pool Equipment - Replace $25,458Guest Clubhouse 1406 Cardio Equipment - Replace $49,539Guest Clubhouse 1406 Strength Equipment - Replace $22,293Owners Clubhouse 1501 Carpeting - Replace $4,403 $710,609

2037 Common Area Grounds 402 Asphalt - Seal Coat/crack fill $86,712Common Area Grounds 1423 Manager's Units - Remodel $16,897Buildings A-I 701 Boilers - Major Repairs $431,402Guest Clubhouse 104 Flat Roof - Replace $36,130Guest Clubhouse 1405 Furnishings - Replace $54,644Guest Clubhouse 1430 Racquet Ball Court - Refurbish $25,165Guest Clubhouse 1501 Carpeting - Replace $46,922Owners Clubhouse 102 Mod. Bitumen Flat Roof - Replace $12,223Owners Clubhouse 1405 Furnishings - Replace $25,884Owners Clubhouse 1410 Sauna Heater - Replace $7,478 $743,457

2038 Common Area Grounds 611 Slip Resistant Mats - Replace $13,900Buildings A-I 715 Pumps - Replace $67,622Buildings J & K 204 Building Ext Surfaces - Reseal $27,049Buildings J & K 305 Wood Siding - Replace/Major Repairs $27,049Buildings J & K 1011 Retaining Wall - Replace $48,087Buildings J & K 1602 Exterior Wall Mount - Replace $9,918Guest Clubhouse 204 Building Ext Surfaces - Repaint $13,149Guest Clubhouse 1102 Spa - Resurface $16,530Owners Clubhouse 204 Building Ext Surfaces - Repaint $9,918Owners Clubhouse 503 Doors - Replace $8,415Owners Clubhouse 1126 Misc. Pool Equipment - Replace $15,779Owners Clubhouse 1413 Restroom - Remodel $57,103 $314,519

2039 Buildings A-I 105 Modified Bitumen - Replace (1) $738,688Buildings A-I 123 Skylights - Replace (1) $42,399Buildings A-I 501 Doors - Partial Replacement $66,818Buildings A-I 701 Boilers - Major Repairs (Bldg C) $28,266Buildings A-I 1424 Unit Building Interiors - Refurbish $103,642Guest Clubhouse 903 Video Surveillance System - Replace $29,051Guest Clubhouse 1105 Pool Heater - Replace $10,207

Total Per Annum

22


Year Sub Group Asset ID Asset Name Projected CostGuest Clubhouse 1106 Spa Heaters - Replace $24,968Guest Clubhouse 1410 Sauna Heater - Replace $8,166Owners Clubhouse 105 Comp Shingle Roof - Replace $75,023 $1,127,229

2040 Common Area Grounds 1306 Park Furnishings - Replace $9,026Owners Clubhouse 702 Boilers - Replace $65,640 $74,666

2041 Common Area Grounds 402 Asphalt - Seal Coat/crack fill $103,405Common Area Grounds 801 Identification Sign - Replace $17,577Common Area Grounds 1202 Tennis Court - Recoat/Paint $21,864Common Area Grounds 1423 Manager's Units - Remodel $20,149Buildings A-I 204 Building Ext Surfaces - Repaint $486,160Buildings A-I 301 Wood Siding - Major Repairs $169,770Buildings A-I 703 Hot Water Storage Tank - Replace (05) $116,610Buildings A-I 715 Pumps - Replace $77,168Buildings A-I 721 Expansion Tanks - Replace $56,590Owners Clubhouse 703 Hot Water Storage Tank - Replace $11,489Owners Clubhouse 1101 Pool - Resurface $34,297 $1,115,081

2042 Common Area Grounds 401 Asphalt - Overlay (A) $532,409Common Area Grounds 611 Slip Resistant Mats - Replace $16,576Buildings A-I 703 Hot Water Storage Tank - Replace (06) $121,857 $670,842

2043 Buildings A-I 105 Modified Bitumen - Replace (2) $880,899Buildings A-I 123 Skylights - Replace (2) $50,562Buildings A-I 703 Hot Water Storage Tank - Replace (07) $191,011Buildings J & K 204 Building Ext Surfaces - Reseal $33,708Guest Clubhouse 204 Building Ext Surfaces - Repaint $16,386Guest Clubhouse 216 Interior Surfaces - Repaint $38,371Guest Clubhouse 607 Wood Stairs/Deck - Replace $33,708Guest Clubhouse 1108 Pool Filter - Replace $15,169Guest Clubhouse 1126 Misc. Pool Equipment - Replace $34,644Guest Clubhouse 1401 Laundry Room - Remodel $61,798Guest Clubhouse 1405 Furnishings - Replace $71,161Guest Clubhouse 1407 Wallpaper - Replace $77,360Guest Clubhouse 1413 Restrooms - Remodel $101,124Guest Clubhouse 1501 Carpeting - Replace $61,105Guest Clubhouse 1502 Vinyl Flooring - Replace $45,131Guest Clubhouse 1601 Interior - Replace $69,101Owners Clubhouse 204 Building Ext Surfaces - Repaint $12,360Owners Clubhouse 216 Interior Surfaces - Repaint $19,429Owners Clubhouse 301 Wood Siding - Replace $22,004Owners Clubhouse 717 Suspended Heaters - Replace $5,056Owners Clubhouse 1109 Spa Filter - Replace $5,056Owners Clubhouse 1405 Furnishings - Replace $33,708Owners Clubhouse 1503 Tile - Replace $19,719 $1,898,567

Total Per Annum

23

1

Glossary of Commonly used Words and Phrases (provided by the National Reserve Study Standards of the Community Associations Institute) Asset or Component – Individual line items in the Reserve Study, developed or updated in the Physical Analysis. These elements form the building blocks for the Reserve Study. Components typically are: 1) Association Responsibility, 2) with limited Useful Life expectancies, 3) have predictable Remaining Life expectancies, 4) above a minimum threshold cost, and 5) required b y local codes. Cash Flow Method – A method of developing a Reserve Funding Plan where contributions to the Reserve fund are designed to offset the variable annual expenditures from the Reserve fund. Different Reserve Funding Plans are tested against the anticipated schedule of Reserve expenses until the desired Funding Goal is achieved. Component Inventory – The task of selecting and quantifying Reserve Components. This task can be accomplished through on-site visual observations, review of association de sign and organizational documents, a review of established association precedents, and discussion with appropriate association representatives. Deficit – An actual (or projected) Reserve Balance, which is less than the Fully Funded Balance. Effective Age – The difference between Useful Life and Remaining Useful Life. Not always equivalent to chronological age, since some components age irregularly. Used primarily in computations. Financial Analysis – The portion of the Reserve Study where current status of the Reserves (Measured as cash or Percent Funded) and a recommended Reserve contribution rate (Reserve Funding Plan) are derived, and the projected Reserve income and expense over time is presented. The Financial Analysis is one of the two parts of the Reserve Study. Component Full Funding – When the actual (or projected) cumulative Reserve balance for all components is equal to the Fully Funded Balance. Fully Fund Balance (aka – Ideal Balance) – An indicator against which Actual (or projected) Reserve Balance can be compared. The Reserve balance that is in direct proportion to the fraction of life “used up” of the current Repair or Replacement cost. This number is calculated for each component, and then summed together for an association total. FFB = Replacement Cost X Effective Age / Useful Life Fund Status – The status of the Reserve Fund as compared to an established benchmark, such as percent funding. Funding Goals – Independent of methodology utilized, the following represent the basic categories of Funding Plan Goals.

• Baseline Funding: Establishing a Reserve funding goal of keeping the Reserve Balance above zero.

• Component Full Funding: Setting a Reserve funding goal of attaining and maintaining cumulative Reserves at or near 100% funded.

• Threshold Funding: Establishing a Reserve funding goal of keeping the Reserve balance above a specified dollar or Percent Funded amount. Depending on the threshold, this may be more or less conservative than the “Component Fully Funding” method.

2

Funding Plan – An associations plan to provide income to a Reserve fund to offset anticipated expenditures from that fund. Funding Principles –

• Sufficient Funds When Required • Stable Contribution Rate over the Years • Evenly Distributed Contributions over the Years • Fiscally Responsible

Life and Valuation Estimates – The task of estimating Useful Life, Remaining Useful Life, and Repair or Replacement Costs for the Reserve components. Percent Funded – The ratio, at a particular point of time (typically the beginning of the Fisc al Year), of the actual (or projected) Reserve Balance to the accrued Fund Balance, expressed as a percentage. Physical Analysis – The portion of the Reserve Study where the Component Inventory, Condition Assessment, and Life and Valuation Estimate tasks are performed. This represents one of the two parts of the Reserve Study. Remaining Useful Life (RUL) – Also referred to as “Remaining Life” (RL). The estimated time, in years, that a reserve component can be expected to continue to serve its intended function. Projects anticipated to occur in the initial year have “0” Remaining Useful Life. Replacement Cost – The cost of replacing, repairing, or restoring a Reserve Component to its original functional condition. The Current Replacement Cost would be the cost to replace, repair, or restore the component during that particular year. Reserve Balance – Actual or projected funds as of a particular point in time (typically the beginning of the fiscal year) that the association has identified for use t o defray the future repair or replacement of those major components in which the association is obligated to maintain. Also known as Reserves, Reserve Accounts, Cash Reserves. This is based upon information provided and is not audited. Reserve Provider – An individual that prepares Reserve Studies. Also known as Aspen Reserve Specialties. Reserve Study – A budget-planning tool that identifies the current status of the Reserve fund and a stable and equitable Funding Plan to offset the anticipated future major common area expenditures. The Reserve Study consists of two parts: The Physical Analysis and the Financial Analysis. Special Assessment – An assessment levied on the members of an association in addition to regular assessments. Special Assessments are often regulated by governing documents or local statutes. Surplus – An actual (or projected) Reserve Balance that is greater that the Fully Funded Balance. Useful Life (UL) – Also known as “Life Expectancy”, or “Depreciable Life”. The estimated time, in years, that a Reserve component can be expected to serve its intended function if properly constructed and maintained in its present application or installation.

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