Monthly Update

Not much has changed over the past 30 days, with the exception that we have received some well needed rain both here in Penrose and Beaver Creek area. The weather pattern shows that we have a good possibility for chances of rain in the evening hours throughout the week. This is promising News!

Due to the extreme drought conditions, Beaver Park Water, Inc. has been meeting with the Colorado Department of Parks and Wildlife and Upper Arkansas Water Conservancy Board to plan for a possible purchase/exchange of water for Penrose Water District should we need to provide water per our contract. Although we are not in a critical stage now, we are planning now as not to repeat the urgency we had in 2002. We are simply putting a plan in place "if and when" the need arises.

The maintenance projects that typically occur in the fall and winter months, have kept the ditch riders with plenty to do. Projects include; cleaning upper canal, monitoring and managing Beaver Creek water flow to Penrose Water District's pumping station, evaluating problem delivery areas, replacing valves and venting existing lines. The biggest project of mowing weeds on the State Land canal system to Brush Hollow is scheduled to begin the middle part of August. Additionally, if and when we have a storm event, the ditch riders are responsible for the capture and management of any additional water that comes down the creek.

2012 assessments are now considered OVERDUE and subject to 18% interest on any outstanding balances. Interest will be calculated 9/1/12. Shareholders that did not pay the 1st half by April 1st will be charged a $10.00 service fee and interest will be calculated on the entire assessment owed. Assessment fees are for the purpose of keeping the property in good repair, proper operation thereof and paying debts. Assessment fees are voted on and approved by the majority stockholders annually. Current assessment rates have remained the same for over 15 years.