Dollar Point Association Dues Structure, Membership Rules and Regulations

1.  The initiation fee to join the Dollar Point Association (the "Association") is $20,000 as of January 1, 2010 and $25,000 as of January 1, 2011.

2.  Annual membership dues for 2010 are $860.00 per year and are subject to adjustment each year.  Dues are billed in January and payable by February 15th.  Membership cards will not be valid until dues have been paid in full.  Dues that have no been paid in full by March 31st are considered delinquent and if not paid by December 31st will result in the immediate loss of membership and the then current initiation fee and current dues for the year will have to be paid in order to rejoin the Association.  Dues paid after March 31st through May 31st are subject to a late charge of $250.00 and dues paid after May 31st through December 31st are subject to a further $610.00 late charge (total late charge being equivalent to the annual dues) and these charges are subject to an annual adjustment.

3.  Membership is associated with the Lot for which an initiation fee has been paid and dues are current.  A membership may not be transferred from one Lot to another.  For a new owner of a member Lot to keep the membership, a transfer fee is required.  The transfer fee is $2,500 effective January 1, 2010.  If the owner of a member property transfers the property ownership to the owner's child or children, to a trust for which the owner is trustor, or to the child/children of a trustor of such a trust no transfer fee will be required provided the Association has been notified of the transfer within 90 days of date of transfer to include documentation to substantiate said transfer.

4.  A Lot is not eligible for membership in the Association if the development rights associated with the Lot have been transferred or otherwise removed from the Lot or if the Lot is subject to a recorded restriction on development, including but not limited to a conservation easement.

5.  A Lot is not eligible for membership in the Association if there are more than 4 owners of the Lot.

6.  The owners of a Lot are not eligible for membership in the Association if any of the owners have an ownership interest of less than one-fourth interest.

7.  A Lot is not eligible for membership in the Association if the owner of the Lot is an association of owners of properties of a subdivision or development other than the Dollar Point Subdivision.

8.  Each membership lot is issued only two (2) membership (gate access) cards.  In the case of a lost or stolen card, the remaining card must be presented to determine the serial number of the lost card before a replacement card is issued.  Any card not presented is considered lost and will be cancelled and any new cards issued are subject to a fee of $20.00 per card.  No additional cards will be issued except, in case of need, a temporary card for a member Lot or tenant of a member Lot may be issued for a non-refundable fee of $100.00.  Temporary cards are valid for a period of no more than two weeks and cannot be extended.  Tenants must present a rental agreement signed by the Lot owner for a card to be issued.  Temporary cards and replacement cards will only be issued by the Ponderosa Property Maintenance office next to the 7-Eleven during their normal business hours.

9.  Commercial activities are not permitted on any Dollar Point property without the express permission of the Board.  Contact the management company for further details.