June 15, 2007

Dear VPV Homeowner, or Resident:

Following are items of interest, brief updates on issues and projects, as well as other informational bits to help our community.

Summer Solstice Social – Let’s take advantage of one of the longest days of the year and gather by the North pool to get to know each other a bit better. This is an informal opportunity to get better acquainted and build a stronger sense of community.

Where: VPV North Pool

When: Friday evening, June 22, 7 – 9 p.m.

Bring: Your favorite beverage (in a non-glass container), a dessert to share, your best “meet and greet” attitude

Hope to see you there!

Water Conservation – So far, 2007 is the driest year on record for Southern California. Cutting back on water usage is important, before it becomes mandatory. Recently, Los Angeles officials requested that all residents reduce their water consumption by at least 10%. Prior to this request, the VPV Board of Directors had already taken action by requesting that our Landscaping Contractor reduce the flow from many of our sprinklers, and also to eliminate one day’s watering cycle in some areas. These tactics aide the conservation effort and also help to better manage our problem of run-off where sloped areas tend to receive more water. We can all take a part in this important effort, and not only help the environment, but also gain savings on our costly association water bills. Following are just a few simple opportunities for each of us to help conserve and save:

· Wait to run the dishwasher until there is a full load

· Use the “small or light load” cycle on the clothes washer or wait until you have a full load for the heavier cycle settings

· Don’t use the toilet as a trash bin for tissues and other light paper sources, use the garbage can

· Turn off the faucet while brushing your teeth

· Take a shorter shower

Slip and Fall Lawsuit: The VPV HOA is being sued for a slip and fall accident on our property. The Claimant was visiting one of our residents, used the pool, and slipped on the entry way tile to the resident’s home. The Board has taken action to ensure that there are no maintenance concerns at the location of the incident and that all appropriate handrails are in proper condition, etc. Please help to keep walkways, stairways, entrances and railings clear of potted plants and other items which can impede the three-foot clearance required for these areas. We want to continue to take every precaution to prevent anyone from being injured and to also keep our insurance rates manageable by mitigating such claims, which will help to keep this portion of our HOA fees as low as possible.

Landscaping – The Board of Directors has decided to postpone major changes to the current landscaping scheme until after the Exterior Renovation Project is completed, thus, not requiring a Landscaping Committee at this time. During construction, it is anticipated that the landscaping will inevitably be damaged in some areas, requiring some re-planting. The Board will determine if a Landscaping Committee should be formed post-construction. Until then, we will operate in a mode of maintaining the current plantings and make minor improvements where warranted.

The Landscaping Contractor has been advised to not take direction on service requests directly from residents. The plantings are the property of all 180 homeowners and will be managed by the HOA Board. If you have a specific request or problem area that you would like addressed, submit your request in writing to Horizon Management so that the Board can consider all requests fairly.

Traffic and Parking

- Speed: Driving too fast through the complex is an increasing hazard. Please slow down, and ask that your visitors and Contractors also obey the speed limits to reduce this nuisance and risk.

- Stop Signs: We have had several near-misses caused by drivers failing to stop at the bottom of the driveway at the Calle Mayor and Camino De Las Colinas intersection. Please observe this important safety requirement.

- Traffic: Not only is the issue of noise compounded by the echoing effect our architecture provides, but we need to manage this problem before someone gets hurt. Please use the exit or entrance nearest to your unit and ask that your visitors do the same. Using our surrounding city streets rather than our interior passageways for through fares will cut down on noise, pollution / dirt, and also decrease the opportunity for an accident.

- Parking: Unauthorized parking in Fire Lanes and in front of garages can impede Emergency Responders from reaching someone in need. We cannot afford for this type of incident to occur. The Board is currently reviewing regulations to legally have offending vehicles towed. Watch for an upcoming announcement on when this practice will take effect.

Visitors Parking is reserved for visitors or short-term / temporary parking. The VPV regulations clearly state that Homeowners and Residents are restricted from parking in these areas. Due to the limited amount of interior parking available, and some Residents continuing to abuse this rule, the Board regularly receives numerous complaints regarding the disregard for this policy. The VPV CCC&R’s outline the process for imposing monetary fines for these abuses and the Board strives to consistently apply this method of recourse. The problem has gotten so bad that these fines are likely to be increased to try to further deter this practice. Please abide by our community rules so that the Board can focus on other pressing issues to protect our homes, and maybe add to your health program by cleaning out the garage or walking in from street parking.

Horizon Management’s New Emergency Number: Please note that the emergency number for Horizon Management has changed to: 310-543-1995

Reserve Study: The Association Reserves are being overhauled. Previously, standard materials such as windows and garage doors have not been included in the Reserves. Other materials such as the siding were included at inadequate volumes. This year’s Reserve Study is being re-worked to more accurately and realistically reflect the requirements of our 30+-year old community. Preliminary information should be ready for Board to review in August. We will strive to keep you informed of this process and the potential impact on HOA dues. All of the specific details of the study, along with a summary, will be provided to each Homeowner, as normal practice.

Noise Intrusions

- Entertainment Systems: Living at VPV means not only living in a shared community, but also sharing common walls. Please be courteous to your neighbors by keeping the bass turned down on stereos and home theatre systems and keeping the volume to a reasonable level. Having your windows or doors open while playing the TV or stereo can be disruptive to adjoining residents. Please be sure to adhere to the 10:00 p.m. quiet rule.

- Arrivals and Departures: Please strive to keep voices low, door closures and other noises at a minimum while arriving or departing either early in the morning or late in the evening. As the summer temps warm and windows tend to be open during sleep, these disruptions can be abrasive to neighboring units.

- Hard Surface Flooring: Simple foot traffic of hard soled or high heeled shoes on hard surface floors (especially wood or simulated wood flooring) can be annoying to your neighbors. You may not realize that your stroll across the living room transmits as a “clomp, clomp, clomp” to your neighbors. Please be courteous and tread lightly, or better yet, when arriving home from work, slip into something more foot comfortable and neighboring ear comfortable too.

- Horns: Please refrain from using your car horn within the complex. Please use this valuable option only as an alert to others during a potential collision.

Board Elections: There will be two Board positions coming to the end of term at the October meeting. Please consider taking your turn at helping to manage our community, or if not a Board position, please attend a meeting and find out other opportunities to volunteer. Watch for upcoming announcements, soliciting for Board nominations.

ER Finance Committee: We are seeking volunteers to help identify the various methods of financing available for the upcoming Exterior Renovation. We are not seeking information on current interest rates for equity lines of credit, but more of a detailed summary of the pros and cons for seeking financing as an HOA, versus each individual Homeowner being responsible for obtaining their own personal financing. Homeowners with some professional experience in this area, or with a strong finance background, are asked to help by volunteering some time to research and organize this information. If interested, please contact Joanne Pena.

ERC Update: The Exterior Renovation Committee continues to work diligently on the refurbishment project. The following brief highlights are provided to help keep you informed of the status of the work to date:

- Design schemes submitted by the Architect included modifications to the roof lines. Such changes cause us to then need permits from the City of Torrance Planning Department, and require us to be processed through the City Planning (CUP) process, including public hearings. This arduous process would not only further delay our project but likely cause it to not be approved. The ERC recommended to the Board that alternative design schemes and repair / replacement plans be solicited from other candidates. That request for proposal process is currently underway.

- Budgets generated by the Construction Management Contractor contained the incorrect quantities and were deemed to be invalid. The Contractor did not perform an adequate property walk-through and thus did not obtain the correct quantities to calculate the associated costs. The correct quantities have been obtained and will be used to generate the preliminary budgets to support the selected Architectural plan.

- The ERC and the Board continue to volunteer and dedicate many hours to this complex process. It is our goal to have a preliminary repair and refurbishment design and cost estimate for review in a few months. A special meeting will likely be called to present this information to the homeowners.

Please be kind to your neighbors, and help each other out where and when available. We live in a beautiful location and want to keep our property values up and our community peaceful.

Hope to see you at the Social on the 22^nd.

Sincerely,

VPV HOA Board of Directors