July 20, 2004

Box Hill South Homeowners Association continues to have rising delinquent accounts. This is a serious problem. The association needs everyone to pay their fees in a timely manner in order to pay the monthly operating costs for the community .

Therefore, a new collection policy has been instituted. THIS IS A VERY STRICT POLICY.

Please read carefully. A recap of this policy is:

1. All assessments are due the 1st of every month.

2. A letter will be sent on the 15th of the month informing you that your fees are delinquent and give you another 15 days to pay the fees.

3. If your fees are not paid at the end of the month (or 30 days from the due date) your account will be turned over to the attorney's for collection.

4. Once your account is in collection, your account will be charged $200 in legal cost which you will be responsible for paying.

5. All future payments will need to be paid to the attorney and not TPSI.

6. Once your account is in collection, your fees may be accelerated to the end of the year.

7. Each delinquent homeowner will also be required to pay interest in the amount of 18% per annum.

8. The association will place a lien on your home, take you to district court for a judgment,start garnishing your wages, and proceed with foreclosure.

PLEASE READ THIS POLICY CAREFULLY.If you have any questions please contact your property manager, Sallie W. Foster, at "[email protected]". Thank you.

If you are a homeowner who dutifully pays his association fees "on-time" please ignore this letter. This letter is only meant to have an impact on those homeowners who do NOT pay their fees each month.