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The meeting
of Red Bank Oaks Generator Committee was held on May 7, 1995. The following
information is the result of this meeting.
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Owners will
be able to purchase either a 5.5 KW Kubota Diesel Generator for $52.50 or more
per month for 60 months for a total of $3,150.00 or a 6.5 KW Kubota Diesel
Generator for $60.00 or more per month for a total of $3,600. Payment in full
of these amounts will make the generator property of the purchaser. You may
pay in full at the beginning or by monthly payments.
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The
generators financed by the association, the owner is required to construct a
secure, well ventilated structure with a method of fastening unit to a slab to
prevent theft. Bill Arent will sketch a simple design to secure unit. This
will be available to you on request. Final installation is to be approved by
committee.
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All diesel
fuel, oil, filters and any other repairs or maintenance is to be at owner’s
expense. The generator comes with a 2 year or 2,000 hour warrantee.
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A security
deposit of 3 months payments will be required. This security deposit will be
the last 3 payments.
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A $10.00
late charge will be assessed on all payments more than 15 days late. If you
default in your payments, the generator will be repossessed.
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Property
owners will provide Red Bank Oaks Property Owners association with insurance
to cover loss of Generator from fire, theft, etc. Property Owners association
is to be named loss payable on policy.
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Payments
will be sent to the association at a Post Office Box in Red Bluff and all
money collected will be deposited in the Bank of America in Red Bluff.
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All
generators will be equipped with an hour meter and a 95 foot remote control.
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After this
initial order of generators, the monthly fee will be adjusted if there is an
increase in price of generators.
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All owners
are eligible to get a Kubota generator of his choice (5.5 or 6.5) now or in
the future. The money in our power account is used for the generators. If we
use all the money designated for power, you will be put on a waiting list and
receive one as funds become available.
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