Edgemere II Condominium Association

Letter to Unit Owners

A Special Meeting of the Edgemere II Condominium Association was held on August 28, 2002 at the East Hampton Library. This meeting was called for the Association to consider a special assessment to fund the proposed paving project, as previously ratified by the Edgemere II Board of Directors. At this meeting the unit owners approved the project, inclusive of the Board obtaining a three-year bank loan to fund the project.

We were originally hopeful of completing the paving project prior to the end of October. Due to prior contractual obligations of the Association's paving contractor of choice, we have agreed to delay the project until April/May 2003. Over the winter months the Association will be finalizing the loan arrangements with the Savings Bank of Manchester and fine tuning logistical work with the paving contractor and the Association's consulting engineer. Your special assessment payments will begin next spring at a date yet to be determined. You will be given adequate notice to choose between the option of paying in full or participating in the 36-month bank loan.

Please do not hesitate to call should you have any questions regarding this project.

Sincerely,

Richard Stern Property Manager

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