Dear Lancaster Park Homeowner:

A new Board of Directors was elected during the Annual Meeting on November 8, 2004. The new board is comprised of President Tim Custer, Vice-President Brian Neufeld, Secretary Ashley Bullard and Treasurer Julie Mueller. Remaining members are Joe Drake, Sylvia Dewey, Ed Aday, Bash Jimoh, and Tim Linehan.

As a board, we have made the decision to terminate the contract with Homeowners Association Management Company, L.L.C. effective November 14, 2004. The board contacted and received input from several of HOA Management's references regarding their performance and the performance of their subcontractors and believed it to be in the best interest of Lancaster Park to end this relationship. We do believe a management company is a viable cost saving option and we will reconsider and review alternatives prior to the end of our current landscaping contract when it ends in March 2005.

As announced at the Annual Meeting we have reaffirmed the initial proposal to raise the annual assessment by 4.6%. This is less than the 5% annual increase allowed in the bylaws. The annual assessment for 2005 will be $173 per lot, which is consistent with increases in past years. The assessment is due on January 1, 2005 and is considered past due February 1, 2005. Please mail your remittance to:

Lancaster Park Homeowners' Association
4309 West Freeport Street
Broken Arrow, OK 74012

Due to the anticipated needs for repair and replacement for future capital expenditures (repair of the foot bridge in the park, street lights in Lancaster Park I, the front entrances, the gazebo, and replacement or major renovation of playground equipment), we feel it is best to slowly build a reserve called a "rainy day fund." This should prevent an unexpected large lump-sum payment for homeowners in the form of a special assessment.

In early 2001, the developer, American Land Company, turned the subdivisions over to the Association. At that time the homeowners' assessments did not include consideration of improvements in the common areas. Consequently, the responsibility for the common areas has fallen to the LPHOA, and has caused a shortage of funds needed to provide for the long-term maintenance of the common areas.

The Board is in the process of compiling a 2005 budget to be sent to homeowners. Due to the fact that we have only recently acquired the books and financial information, the 2005 budget will be provided at a later date. We appreciate your patience in this matter.

We are also working to address your concerns as quickly as possible. We have a highly dedicated Board whose aim is to keep homeowners informed. To enhance communication of any concerns, you may reach the Board by pager at 763-5099. The mailing address is: 4309 West Freeport Street, Broken Arrow, OK 74012. Also, we are working to get the web site, www.lancasterpark.org, updated and then keep it current for your convenience. Starting in January it is the Board's intent that meetings will be open to members of the LPHOA. Time and location of these meetings will be announced at a later date.

We are in the process of establishing volunteer committees and appreciate those who have volunteered and already contributed their time and resources. The Communications Committee's first meeting was on November 16. Volunteers for other committees are being contacted and meetings will be scheduled in the near future. Please contribute your time and expertise. All help is accepted and desperately needed, please call the pager to leave your number. Thanks to those that signed the volunteer sheets at the Annual Meeting.

We look forward to working with all residents and value your input.

Thank you.

Tim Custer, President
Board of Directors
Lancaster Park Homeowners' Association