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Riverchase(3)-CS 950629Richard D. Singer 822 Mallard Drive Coppell, Texas 75049 June 29,1995 Mr. Arthur Hewett 8440 Walnut Hill Lane 8th Floor Dallas, Texas 75231 Re: Riverchase Homeowner's Association. Inc. Dear Mr. Hewett: At a recent meeting of the City Council for the City of Coppell, the Council adopted an ordinance wherein the City has agreed to assume maintenance responsibilities along MacArthur Boulevard. In adopting that ordinance, the Council required two actions to be taken by the Riverchase Homeowner's Association (the "Association"). The first is that the Association reduce the annual maintenance fees to reflect the transfer of these maintenance activities to the City. The second action, and the one which is more directly pertinent to me and my neighbors, is that the Association transfer members who live within the Northlake Woodlands area to a new Homeowner's Association, the NORTHLAKE WOODLANDS HOMEOWNERS ASSOCIATION. A letter which I received from my home builder in 1993 indicated that the covenants and restrictions for this Association are in place, but that the Association is not yet in force or effect. It is my understanding that the NORTHLAKE WOODLANDS HOMEOWNERS ASSOCIATION will be operational by calendar 1996. Several of my neighbors and I are interested in working towards accomplishing this goal. We have been directed to Mr. Steve Parsons as the person to work with in this respect, and I will be contacting Mr. Parsons soon to offer our assistance. Before I can turn my full attention to organizing the NORTHLAKE WOODLANDS HOMEOWNERS ASSOCIATION, however, I believe it is proper to resolve the outstanding issues with respect to the Riverchase Homeowner's Association. As you know, I have been withholding payment of the 1995 assessments until such time as the Association cured various violations of the CCR's and Articles of Association. Your failure to respond to my latest correspondence in this respect indicates that the Association is unable or unwilling to resolve this matter to my satisfaction. Riverchase Homeowner's Page 2 June 29, 1995 Association, Inc. Rather than perpetuate this matter which will soon become academic when my property is removed from the Association, I propose a settlement. Enclosed with this letter is my check number 1168 drawn on BankOne in the amount of $72.00. This represents the full amount of the 1995 assessment by the Association. Acceptance of these funds will represent full and final settlement of all outstanding amounts which the Association claims to be due from me. This includes all claims for fees, interest, and penalties. At the same time, I agree to cease all efforts to have the Association produce evidence of compliance with the CCR's and Articles of Association. Presentation of my check for payment will evidence the Association's acceptance of the terms shown above. I sincerely hope that this is our last correspondence on this subject, and that we can turn our efforts towards the ultimate resolution of our differences, proper organization and operation of the NORTHLAKE WOODLANDS HOMEOWNERS ASSOCIATION. Sincerely, Richard D. Singer Enclosure