December 11, 2002 

Dear Lauren Owner: 

In conjunction with the mailing of the 2003 budget I would like to take the opportunity to bring a few administrative items to your attention. Some, or all, of them may impact upon you in 2003, and thus I ask that you spend a few moments reviewing them. Please feel free to contact me on these or any other Lauren concerns. For those using e-mail my address is thelauren@juno.com. The association’s business phone remains (202)-659-9483. 

Monthly Condominium Fees

The Lauren’s financial manager, Koger Management Inc. will shortly be mailing out an initial monthly statement containing the appropriate 2003 unit fee based upon percentage of ownership. Fees may be paid in one of three ways: 

1) The Lauren offers the opportunity to participate in a direct debit program, wherein monthly fees are automatically deducted from your checking account. If you desire to use this method and if you are not already participating please contact Walter Krolman at The Lauren or Kathy McCormick at Koger (703)-591-2414 for an enrollment form, which must be completed and returned to Koger before monies can be deducted from your financial account. If you are already using this method for payment and wish to continue you do not need to reenroll. Those paying in this manner will not receive additional monthly statements. 

2) Payments may be made with your VISA or MasterCard. If you desire to use this method and if you are not already participating please contact Walter Krolman at The Lauren or Kathy McCormick at Koger (703)-591-2414 for an enrollment form, which must be completed and returned to Koger before monies can be charged to your credit card. If you are already using this method for payment and wish to continue you do not need to reenroll. Those paying in this manner will not receive additional monthly statements. 

3) All other payments should be made directly to the Lauren. Checks may either be mailed or hand delivered to the front desk (a receipt will be generated for those using this method). No payment should be sent to The Lauren's financial manager. A $25.00 late charge will be posted to an account if payment is not received by the 10th of the month. A second $25.00 late charge is imposed if a monthly payment is not received by the last day of a given month. Koger will be mailing a monthly statement each and every month which will include any late charges that are posted to your account. We also hope to provide a summary of 2002 late charges to affected owners in the near future. Be sure to include the monthly coupon with your check as they assist in maintaining accurate record keeping.  

Move-In's-Rentals-Resales-Renovations

Investor owners are reminded that a lease, Lauren condominium addendum, appropriate move-in fee and completed data base must be submitted and approved by the Board of Directors prior to a tenant's move-in. Investor owners are also reminded that there are regulatory and administrative requirements imposed by local government on rental units. They are responsible for identifying and complying with them.

 If a unit is sold, the current owner is required to purchase a resale package. Owners are reminded that they should comply with all applicable laws and regulations that may exist either on the federal or local level when they sell their unit. If an owner is contemplating renovation to a unit they must submit plans to the Board of Directors for review and approval prior to any work taking place. 

Fee Schedules

The fee schedule for purchases, deposits and services currently in effect is listed below: 

Best wishes for a joyous Holiday season and a healthy, happy New Year!

                                                                        Walter J. Krolman, CMCA, AMS

                                                                        Property Manager