The Ponds Conservancy, a not-for-profit community organization, has been created to enhance the quality of life and sense of community at The Ponds through educational programs, social events, cultural endeavors and environmental stewardship. However, the function of The Conservancy goes beyond protecting nature and the beauty of the land at The Ponds. Its overriding purpose is to become a thriving resource for community activity and spirit.

In its early stages, Greenwood Communities and Resorts as the Declarant will utilize its existing staff at The Ponds to handle Conservancy affairs and events. As the organization matures, the Conservancy may hire its own management staff, may establish an Advisory Board and may organize other committees and groups to further its goals and mission. Cultural and social programs will also be available to promote artistic and communal initiatives through featured exhibits and events.

Special events are organized, produced and implemented under the Conservancy banner. As per the Covenants, the Ponds Community Association (PCA) and its property management firm shall cooperate with the Conservancy in the collection of the Community Enhancement Fee by, among other things, notifying the Conservancy, or its designee, of any pending property transfer.

As per terms laid out in Section 8.12 of the Declaration of Covenants running with the land, the Conservancy is to be funded by a "Community Enhancement Fee" to be collected upon the transfer of any lots or homes within The Ponds. As provided in Section 8.12, this Fee will be not less that 1/8 of 1% of the gross sale price of a lot or home, and cannot exceed 1%. Please be advised, therefore, that as of March 1, 2009 and thereafter, a Community Enhancement Fee of 1/8 of 1% will be collected by The Ponds Conservancy to help fund operations and events.