The Lauren, A Condominium
(202)-659-9483

December 8, 1999

Dear Lauren Owner:

In conjunction with the mailing of the 2000 budget and monthly payment coupons I would like to take the opportunity to bring a few administrative items to your attention. Some, or all, of them may affect you in 2000, 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 or thelauren@erols.com.

Monthly Condominium Fees

The Lauren offers the opportunity to participate in a direct debit program, wherein monthly fees are automatically deducted from your checking account. Please contact the Property Manager if you are interested in enrolling. All other payments should be made directly to the Lauren. They may either be mailed (window envelopes are enclosed for your convenience) 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, Dubin & Associates. 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.

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 the 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 will 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:

    Move-in (furnished unit)               -   $  75.00
    Move-in (unfurnished unit)             -   $ 100.00
    Move-in (penalty, more than 1 move/yr) -   $ 300.00
    Non-security keys-purchase             -   $   5.00
    Unit owner pool key-purchase           -   $  15.00
    Tenant pool key-deposit                -   $  50.00
    Garage door transmitter-deposit        -   $  50.00
    In-unit labor charges- per hour        -   $  30.00
    Resale package                         -   $ 125.00
    Returned check                         -   $  25.00
    Pool Party                             -   Please contact manager

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

Walter J. Krolman
Property Manager