03-10-20.MESSAGE TO COMMUNITY

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Communication The Committee and its associated professional team are now out from under the survey blackout period and into the important final 45 days of work to create, coordinate and assemble the various components of this project into a final product for presentation to the community in April. Throughout this period, as we gain greater insight into various areas of our work, our intent is to pass this information on to the members for their current consumption. Indeed, from this point forward and up to the vote in April we will be actively and consistently communicating to the membership on a variety of subject matters involving the new clubhouse. We will be taking you through the work and thought processes we are going through and distributing the information as we gather it. Stay tuned for at least a weekly communication from our committee, using a variety of medias, as we work towards educating the community on the work we are doing and helping members become more comfortable with the new clubhouse proposal so that our members will be confident consumers leading up to the new clubhouse presentation and ultimately, of course, the vote. Finally, we want to answer any questions you may have in connection with the New Clubhouse development. As in the past please email all questions as they come up to NewClubhouseQuestions@frenchmanscreek.com. Financing This past week’s meetings with Bank of America, Wells Fargo and BB&T went exceptionally well. All three banks are eager to provide financing plans to Frenchman’s for a new clubhouse. With the recent sharp decline in interest rates we expect to receive very attractive financing proposals which should translate into affordable monthly payments for members. We expect proposals from all three banks early next week, which our committee will then immediately evaluate. We found the financing questions in the survey to be very helpful as it showed the importance to members of maintaining a monthly payment of $350, if at all possible. Clubhouse Layout Meetings were held with Brian Idle, Steve Johnston, our owner’s rep, our general contractor, the club’s executive team and the committee on the site plan and interior layout of the new clubhouse. Many variations and alternatives are being discussed as we want to make sure that the essential elements which our members are accustomed to will be continued and be improved in the new clubhouse. We continue to be focused on cost efficiencies in the construction of