Management Services
for
ELK RUN VILLAS

A. Basic Services

1. To maintain the Association financial accounts, books and records, to bill owners for dues and/or special assessments, to receive and record owners dues payments; to administer Association bank account(s) in a current and businesslike manner; to prepare a monthly operating statement in a form prescribed by the Treasurer of the Association; to prepare a dues delinquency list at least monthly; to provide each Board Member with requested financial information at least one week prior to scheduled Board Meetings; to pay all approved Association bills when due and keep adequate records of such payments; to pursue collection of all funds due the Association using all legal means up to releasing the case to an attorney for litigation; to cooperate with auditors/accountants as hired by the Board; prepare an Annual Budget Proposal for the Directors about 30 days prior to the start of the fiscal year; and to complete an annual review of the financial records by the company controller. (Note: WPM to supply qualified bookkeeper only. All audits, tax returns, or special accounting procedures to be done by a CPA at the Association's expense.)

2. To provide telephone answering service 24 hours per day, seven days per week.

3. To mail Association notices, newsletters, etc. (Postage, printing, and paper to be WPM expense); to provide limited secretarial work for Association business during normal working hours.

4. To enforce all rules promulgated by the Board of Directors, to call County law enforcement authorities when deemed necessary; to report all rules infractions or illegal activities to the Board.

5. WPM representative to attend Board of Directors meetings and annual meetings and report on physical and financial condition of the Complex and Association; to aid in preparing agendas, committee reports, etc., for such meetings; to help plan, prepare for, and to attend the annual owners meeting. WPM General Manager and/or Operations Manager shall attend any meeting upon request of the Board of Directors. (Up to 4 meetings per year.)

6. To implement and adhere to the Key Control policy as adopted by the Board, and to maintain security procedures relating to key control and security. Maintain keys for each homeowner.

7. File insurance claims on behalf of the Association, for an additional charge.

8. Complete annual corporate reports for the Colorado Secretary of State.

9. Provide Repair & Maintenance coordination for the Association and for the individual owners.

10. Coordinate trash removal from the project.

11. Draft and update new owner information packets and provide to owners upon purchase.

12. Complete special projects for the Directors including:
a) Complete affidavits to facilitate sales.
b) Research By-Laws and Declarations from time to time.
c) Draft proposed Rules & Regulations.
d) Complete energy conservation studies and audit public service billings.
e) Complete long-term major maintenance proposals.
f) Coordinate architectural review for the Directors.

13. Coordinate snow removal from parking lot and sanding when needed.

14. Assist the owners and guests with lockouts, emergency message
delivery, rules enforcement and maintenance emergencies.

15. Maintain and update homeowner listings.

16. Assist the Association with outside contractors attempting to negotiate as desirable arrangements as possible. Also let for bid the Association's property and liability insurance coverage's annually. WPM will attempt to achieve the savings detailed on Exhibit A to this agreement.

17. Maintain a fidelity bond at WPM's expense.

B. Additional Services - Additional services are those services provided by Property Management personnel assigned to Elk Run Villas as well as services provided by other Property Management personnel on a limited basis. An example of this service is closing the Amenity Room. Boiler checks and on-site tours with outside contractors by the Director of Repair & Maintenance Department are also additional services. The additional services listed below are charged on an hourly basis and the services can be changed as the Directors see fit.

1. To operate the Amenity Room by keeping it open for use as directed by the Board; to keep the Amenity Room clean; to maintain the hot tub regularly and maintain it in good operating condition; to monitor use of all facilities; to maintain dressing rooms regularly; to enforce clubhouse rules.

2. To perform routine and preventive maintenance to include landscape maintenance, for example: trimming grass, cutting weeds, watering shrubs and trees, fertilizing; regular boiler inspection; snow shoveling; picking up trash; replacement of light bulbs; and maintaining the cleanliness of the entire complex to include the parking garage.

3. To perform in-unit security checks of all unoccupied units on a schedule defined by the Directors; check heat level, appliances, plumbing, and windows.

4. To perform general administrative duties including conducting an inventory of Association equipment annually; undertaking and supervising special projects as directed by the Board; supervision of outside contractors.

C. Outside Contractors/Services - WPM shall contract for and maintain services for water, sewer, electricity, natural gas, major snow removal, trash, television cable, and other services deemed necessary by the Board. Such services shall be contracted for in the Association name and shall be at the Association's expense.

D. Purchase on Behalf of the Association - WPM shall purchase and maintain at the Association expense such equipment, tools, appliances, materials, and supplies as are necessary to maintain the common elements of the Complex. All such purchases shall be made in the name of the Association and, except for emergencies, shall be consistent with the Association's most recent approved budget. All available discounts, commissions, or rebates shall be obtained for the credit of the Association. WPM shall disclose any interest it may have in any firm with which it proposes to transact Association business, and shall secure the Board's advance approval before proceeding, and shall inform the Board of any association, ownership, or other situation which may give rise to any conflict of interest pertaining to the Association, or its members, by WPM or its principals.

E. Insurance - WPM shall aid the Board of Directors in seeing that the Complex is adequately insured and that no lapses in said insurance occur.

F. Budgets (Basic Service) - WPM shall, under the direction of the Association Treasurer, prepare and present to the Board, at least two weeks prior to stipulated regular Board meetings, an operating budget setting forth an itemized coming year. Said budgets shall serve as the basis for Owner assessments and as the major fiscal control under which WPM shall operate.

G. Personnel Insurance - All WPM personnel shall be covered by liability insurance, workmen's compensation insurance, and a fidelity bond. WPM shall maintain normal and adequate insurance covering liability for its acts or its negligence and the acts or negligence of its employees, agents, and contractors and shall furnish the Board with evidence of such insurance annually.

H. Tools and Equipment - The Association shall provide all hand tools required to perform the duties of it herein (e.g., shovels, rakes, hammers, wrenches, mops, cleanser, rags, wax, sponges, buckets, etc.) and all major equipment (e.g., lawnmowers, wet/dry vacuum, swimming pool maintenance equipment, snow blowers), clubhouse bath and shower supplies (e.g., soap, toilet paper, paper towels) and maintenance supplies (e.g., fertilizer, grass seed, light bulbs, pool chemicals, paints, lawnmower gasoline).

 

 

 

 

 

 

 

This page last updated July 29, 2004