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FromallofusatCostaPedasiwehopethatyouarestayinghealthyinthesedifficulttimes.TheBoardissendingoutthissecondquarter2020newslettertokeepyouinformed.Asoftoday,therearethreereportedCOVID-19casesinPedasi.Fornow,thegovernmenthasloosenedmanyoftheirrestrictionsinLosSantosandHerreraprovincesandweareabletotravelfreelyonalldaysandcanalsogoshoppinginLasTablasandChitre.Muchhasbeenhappeninginourcommunityoverthelastfewmonths.PleasereviewtheactivityandletusknowwhichCommitteeyoucanjoinsotogetherwecanandwilldomore.

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Neil’sOutreachCommittee(KimiyeCronin,AbbeDrossner,TerryMaples,MelKenyonandJimGault)completedworkonthewebsite.Wehopeyoufindthenewformateasiertouse.Thesoftwarewasupgradedandseveralpeoplehaveremarkedthatthemobileaccessisagreatbenefit.

Newwebsitehomepage

InternetServiceProviderOptionTheHOAhasnegotiatedadealwithanewInternetprovider,PlanetTelecom,tosupplyservicestoCostaPedasi,Andromedaandtheimmediatearea.PlanetTelecomhasbeeninbusinessinPanamaforover12yearswithmanyclients,inmanycommunities.Thecompanywillsetupasolarpoweredtowerinthevicinityandstartwithinternettodishesonthehouse(similartocurrentdelivery)andwillbringinfiberdirecttothehomesinthefuture.Detailsofthecompanyandtheirplanswillbesenttoallmemberssoon.

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TowerbaseinstallationisscheduledtheweekofJuly26withcompletionAugust14andserviceashorttimeafter.ThisisPanamaandweareinPandemicbutwebelievethesedatesareachievable.PlanetTelecomanticipatesaugmentingthelocalstaffduringtheinitialinstallationstoprovideserviceasquicklyaspossible.TheyarearrangingtohireatechnicianandofficeadministratorfortheirPedasioffice.PlanetTelecom’sServiceDirectorwillhandleclientinstallationrequests.Installationswillbescheduledastheyarereceived.

BankaccountSinceMarchwehavebeenreceivingduesinandpayingbillsfromournewbankaccount.TheaccountissetuptoreceivemoneyandrequirestwoBoardmembersignaturesonachecktopaybills.Currently,threemembershavesigningauthorityandtheothertwomemberswillsoonbeadded.TheBoardhasbalancedthe2020budgetandweneedALLMEMBERStopaytheirHOAduesontimetomakesurewekeepthisbudgetontrack.TheTreasurerhassentoutbillsforJuly2020duesandallduescanbepaidtoourcorporate,nonprofitaccount(seewebsiteforwiringinstructions)orcontactMichaelMaxwell(max@tomkosports.com)forotherarrangements.FiscalUpdateDuringthe2019dryseason,theCPHOAwasspendingapproximately$11,000permonthonaverageonlandscapingandsecurity.Wearenowspending$5,800permonth;a

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reductionof53%.In2019wehada$40,000cashflowdeficit.Thisyearweexpecttobeeven.Wecut$4,848fromSecuritycosts,$29,400fromGroundsmaintenance,$12,000fromLegalRetainer,and$900fromInternetservicesforatotalsavingsof$47,148.EvenwithoutthesaleofLot51,westillmanagedtoputintoourwaterupgrades$24,200foranewwell,pumphouseand10,000-gallonwatertankwithinspectionladder.Theresultisanincreaseinproduction,reliablestorageandtheabilitytoincreaseourstorageto20,000gallonsduringthe2021dryseasonwiththeretrofittingoftheoldwatertank.ThiswasprobablythefirstyearwedidnothavetotextoutwaterrelatedalertstoCostaPedasiresidents,nordidweneedtobuywaterfromtankertrucks.Withtheabovesavings,youmaybethinkingweareswimmingincash.Notso!Asofthetimeofwritingthiswehave$960.94inourCPHOAbankaccountwith$1,237.50incollectableaccountsreceivables.Inaddition,weareinthewetseasonandourlotcuttingswilladdanother$1,800everytimeweweedwhackthevacantlotsandcommonareas.Weknewthisyearwasgoingtobeachallengegiventhe$22,000inlostRevenuetothePrepaidHOAfees.In2021,prepaidduesdropdownto$11,000.WehavegivenSeasideManagement90daysnoticefortheterminationoftheirSecurityandWaterContracts.Wewouldliketobringtheseemployeesinhouseandestimatethereisapotential$25,000savingsinannualcoststotheHOAwithoutareductionofservices.Plusweexpectbetterutilizationof

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staffthanwearecurrentlygetting.Thenextstepistoinvestapproximately$17,000inelectronicgateopenerswithamemberapprovalvote.Weshouldbeabletotransferstafftothegroundsmaintenancesideandreducecostsfurther.Withthesavings,wewillalsoinvestigatethepossibilityofhiringoneresourcetobearoamingnightsecurityguard.TheBoardexpectsthatoncealltheaboveisachieved;wecangetourOperatingcostsdownto$3,500to$4,000permonthexcludinganyCapitalupgradesorequipment.Allexcessfundscanthenbeputbackintotheinfrastructure.TheMonthlyexpenditures,Cashflow,andprojectedFinancialsareallonthenewwebsiteunder2020Financials.Ifyoudonotseeinformationyouareafter,pleaseemailMichaelatmichaelmaxwellsmith@gmail.com.

NewwatertankTherecentlyinstallednew10,000-gallonwatertankhasbeenworkingfineandkeepingthecommunitysuppliedwithplentyofwater.Theoldtankisonthegroundandweareawaitingrefurbishingestimatessowecanuseitasbackupwatercapacityduringthe2021dryseason.

Oldwatertankbeingremovedandnewtankreadytoinstall

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Newwell#6locatedbehindcasa#60Thewellhasbeenoperatingsuccessfullyforseveralmonths.Theexcellentwaterflowratemeantthatforthefirsttimeinafewyears,thecommunitydidnothavetopurchaseexpensivetankertrucksupplementalwaterdeliveries.

OurcommunityhasoneofthebestwatersystemsinPedasi.Wehaveplentifulclean,goodtasting,testeddrinkingwater.Controllingourwatersupplyensuresthatthecommunityhasasteadywatersupply24hoursaday.Oftenthetown’swatersupplyisshutoffforseveralhoursatatimeindryseason.Ourplentifulsupplymeansthatweareabletoenjoynormalactivitieswithoutworryofrunninglowonwater.Thewatersupplyalsohastheabilitytoexpandandmeetthefuturedemandsofthecommunityasweaddnewhomes.AssociationgroundsmaintenanceMichaelMaxwellandseveralvolunteerscontinuetoremovesmallrocksfromcommonareasandusethemtofillinerosiondamageinotherareasofthecommunity.Thishasimprovedthecurbappealofthecommunityandreducedmaintenance.ThisphotoshowsthepreviouslysevereerosionareabetweenthesidewalkandcurbfilledinandtoppedwithplasticandfinishedwithstonebetweentheClancyandKornhomes.

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Wearenowabletocut28lotswiththelawntractorsavingtheHOAmoneybyreducinggrasscuttingcrewcostsandkeepourcommunitybeautiful.Weedcontrolbetweenthesidewalksandcurbhasbeencompletedandthishasgreatlyimprovedtheappearanceofthedevelopment.MichaelandLarryCronincontinuetotrimmanydeadpalmfrondsandwithJim’shelpmovethemtotheorganicpile.Thishelpstoimprovethebeautyofthecommunityandsavesusmorethan$2,400permonthinlandscapingmaintenancefeesinthedryseasonthatwepreviouslypaid.

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LoadingJim’struckwithtrimmedpalmfronds

Thenewwaterdiversiontrenchbehindlots62,63,64,65,and66isworkingasintendedtokeepwaterfromflowingoffcommonareasontotheselots.

Waterdiversiontrenchkeepingwateroffofmembers’lots

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FrontEntranceToimprovefirstimpressionswhenenteringthecommunity,thefrontgatecenterislandareaisbeingredoneandthearchhasbeenpowerwashed.Deadplantsandnon-workingirrigationlineshavebeenremoved.

Formerfrontentranceplanting

Inthisphoto,excessdirtisbeingwashedofftheroad.Newplantsandirrigationlinesarecurrentlybeinginstalled.

Frontentranceplantpreparation

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Newplants,freshsoilandstoneatfrontentrance

Unfortunately,therainyseasonreturnedandlaborrestrictionswerenotliftedintimetoallowthefrontarchtobepaintedthisyear.ReductionofexpensesThegatecommittee(Michael,Paul,JimSeaman,ToddandSusanSells,LarryCronin,andAbbe)receivedaquotefromanelectronicgatevendor.Theysubmittedalistofquestionstothevendorandheldaconferencecall.Discussedweregateoptions,cardreaderoptions,vendoraccessoptions,cameras,andcostbenefits.Additionalquestionsarebeingsubmittedtothevendor.SomemembersoftheCommitteedidasitevisittoChitrewherethegateisinoperation.Nextstepswillbecontactingthecompany’stwelveplusreferencesfromalloverPanamaandequipmentreviews.InformationandcostbenefitanalysiswillthenbesharedwiththeCommunity.

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RealEstateupdateTwohomesandonelotwentundercontractinthepastmonth.RealtorsaretellingBoardmembersthattheyhaveclientsinterestedinlookingathomesandlotsinPedasiandCostaPedasi.Onceairtravelresumes,theyareexpectingtoseesomepotentialbuyersvisit.Realtorsarealsotellingusthatcurbappeal,waterupgrades,andabalancedbudgetarekeyfactorsinshowinganybuyersthattheHOAisdoingagoodjobmanagingthecommunity.BoardofDirectormeetingsYourBoardcontinueswithbusinessviaZoommeetings.Agendasandminutesforboththemonthlyandexecutivemeetingsarepostedonthenewwebsite.WearedelightedthatZoomattendanceincreasesateachmonthlymeeting.PLGIupdateTheBoardisinregularcommunicationwithPLGI’sattorney,Nora.Giladhasgonesilentandnotspokenwithhisattorneyinseveralweeks.WearealsoindiscussionswithotherlawyerstopursuePLGItoobtaintheoriginallynegotiated14lots.WewillupdatetheCommunityoncewehavemoredetailstoshare.HOAlegalstatuschangeRecentduediligencebyourattorneyresearchingPanamaandHOAlawshasprovideduswithgreatnewswewanttoshare.Whenourdevelopmentwasfirstplanned,GiladhadstartedtheprocesstohavetheroadsinCostaPedasimade

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private.ThiswasdoneaspartofthefutureformationoftheHOA.ThismeanstheroadsandcommonareaswereseparatedfromPLGIholdingsattheonsetofthedevelopmentplanningandallpermitsandgovernmentapprovalsweredoneatthisstage.AttheformationoftheHOAin2017wehadachievedthelastcriteriabythePanamagovernmentforprivateroadsandourlegalstatuswentintoeffect.Whenthegovernmentofficesreopenedwewereabletoobtainthestamped,registeredpaperworkofourofficialstatus.WhatthatmeanstoCPisthattheHOAnowhasthelegalrightsunderPanamaLawresolution28-2003,February21,2003tochargeandcollectHOAduesfromalllandownersinsideofCostaPedasifortheoperationofthedevelopment.Alltheco-ownersofthedevelopmenthavetheobligationtopayallthefeesforthemaintenanceoftheroads,sidewalks,drainage,frontgate,refusedump,lights,lotcutting,waterpipesandrepairsareincludedaspartofthisagreement.Theby-lawsoftheEstatutothatpertaintotheseareasarealsoineffectandenforceable.Alllandowners’currentandfuturewillberequiredlegallytosupporttheHOAthroughpaymentofdues.AllpaymentsinarrearsfromtheinceptionoftheHOAin2017cannowlegallybepursuedandsupportedinPanamacourtsasrequired.Thedocumentisinclusiveofallroadsuptophase3(ourcurrentstatus)ofthedevelopment.Theby-lawsoftheEstatutothatpertaintotheseareasarealsoineffect

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andenforceable.ThenewlegalstatusunderPanamalawhelpsstrengthenourcommunitytobecomeself-sufficientandprovideamorestablefuture.InearlyJuly,allmembersweresentacopyoftheofficialdocumentinSpanishandalsoanEnglishtranslation.Foradditionalinformation,pleasecontactusatCostapedasibusiness@gmail.com.CostaPedasiBoardofDirectorsJuly18,2020