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6 | THE COLONY NEWS | APRIL 2024 | Highlights as presented are a condensed preliminary dra until, aer review and approval by the Board at the next meeting, the minutes become official. Changes may occur. A complete copy is available in the HOA Office. Pickleball Court #1: Approved an emergency contract to repair the court, which will occur in the next three weeks. e post-tension slab cables are failing and will eventually start popping. is will allow more time to fully fund the reserves to refurbish the courts. Electronic Distribution of Official Association Notices: Management is researching implementation of electronic distribution of official association notices and documents as a means of saving mailing costs and become a paperless community. Budget Town Hall – Article 20 Discussion: Informed the membership that during the Feb. 13 Budget Town Hall, it was stated that Article 20 is not in effect until the association owns the golf course. General Manager Jim Morgan reclarified this statement that Article 20 currently gives the board the ability to: 1) acquire the golf club, 2) create a separate legal entity for this purpose as recommended by the association's CPA, 3) enter into a shared use and maintenance agreement with the new separate legal entity created to manage and operate the golf club or any other entity that acquires the golf club, and use assessment monies to cover the association's obligations under this agreement. e amendment of the Declaration is needed to update the provisions that address third-party ownership of the golf club and property and the legal description of the golf course property. Mr. Dalfonso confirmed that while Article 20 enables us to supplement the course, it does not obligate us to do so. Introduction of Attorney Joe Sammartino: Introduced Co-Chair of the Litigation Department for Epsten APC. He is replacing the association's current litigation attorney, Rian Jones, who has retired. On Feb. 23, they will go to court to make a motion for the Fraudulent Conveyance attorney fees from Majestic Asset Management and the Huangs in the amount of $785,000. Last month, Judge Keen, who is overseeing this case, awarded the association $102,000 in attorney fees for the enforcement of the Judgment for Foreclosure. He is hopeful the association will be awarded attorney fees in this matter. Golf Course Update: In January 2024, the golf course had strong growth in rounds played and revenue compared to January 2023. We saw growth in both regular golf rounds played, and disc golf played. e weather played a key factor in allowing weekends to be playable and driving revenues. Total revenue for Jan. 2024 is $74,589 vs. Jan.2023 $56,132, up 32.9%. Total rounds for January 2,220 are up 42.5%. Jan. 23 rounds - 1,558. February has started out poorly because of the rain. Two weekends have been negatively affected due to the rain and a possible 3rd weekend. e lost weekends have led to a 37% reduction in revenue and over 43% lost in rounds vs last February. When the weather permitted play, our numbers have been up vs last February. Weather permitting, we can close the loss by half, but will not catch last February's number. Sunshine Committee Reorganization: Chairperson Paula ompson presented a PowerPoint presentation on the reorganization of the Sunshine Committee. It will no longer be organized in multiple districts. Instead, Sunshine will consist of three operational areas: Memorial Group, Welcome Group, and Meet Your Street Group. e Memorial Group will continue to provide memorial receptions for Colony residents. e Welcome Group will bring welcome gis to all new residents throughout e Colony. e Meet Your Street Group will encourage neighbors and streets to get together and socialize more. It is anticipated that these groups will help e Colony community to become more cohesive, generationally integrated, and caring about nearby residents. HOA Board Meeting Highlights: February 15, 2024 continued on next page

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