2001, April

Red Bank Oaks

Vote by Mail

April 2001

Landowner Positions for Resolving Delinquent Generator Accounts

SUMMARY:

Landowner inputs are requested regarding two delinquent generator accounts and funds owed to the landowners. A return postcard is enclosed with the information package. Please take a moment to provide your input on what will be done. The postcard is already stamped and addressed.

On 1 February 2001, the Board sent notice to 6 landowners with delinquent generator accounts (and expired contracts) and requested full payment of their balances by 2 March 2001. As of 30 April 2001, three accounts had been closed, one account had written arrangements for resolution, and two remained unresolved.

q The total amount delinquent between the 6 accounts as of 1 February 2001 was: $11,960.50

q $4,913 had been recovered

q An additional $1,510 was expected to be received through written arrangements made with one account.

q Two accounts remained unresolved.

Below is a summary of the two unresolved delinquent accounts:

Landowner A

Originally owed: $3,600 (the Association gave $1,118 to reduce cost of generator from $4,718)

Amount paid as of 1 February 2001: $530 (including $180 deposit)

Date last payment received: April 1998 (3 years ago)

Amount outstanding as of 1 February 2001: $3,070

Landowner A approached Board Members at the 21 April 2001 picnic and said he would begin making payments toward the balance. Board Members requested the intent be put in writing to be officially considered. The Board did not receive written intent or payment from Landowner A.

Landowner B

Originally owed: $3,150 (the Association gave $1,118 to reduce cost of generator from $4,718) (generator was discounted an additional $501 for being slightly used)

Amount paid as of 1 February 2001: $530 (including 157.50 deposit)

Date last payment received: July 1996 (4 1/2 years ago)

Amount outstanding as of 1 February 2001: $2,467.50

The Board had not hear from Landowner B since notice was sent requesting full payment.

VOTING CARD:

I want the landowners’ Association to take the following action on

delinquent generator accounts relative to information provided May 2001:

(ONLY ONE ACTION MAY BE TAKEN)

* Forgive remaining accounts; write off the $7,047.50 owed as a loss

* Discount remaining balances 50% in exchange for immediate

Payment and write off the remaining $3,523.75 as a loss.

* Turn the accounts over to a Collection Agency for full resolution.

* Secure legal counsel and take the unresolved delinquent accounts to

court for resolution and recover of legal fees.

* Neutral or Other: _________________________________________

___________________		____________________________
Parcel Number(s)		Landowner Signature

RESULTS:

Below is a synopsis of the inputs landowners provided of how they would like the Association to resolve the two delinquent generator accounts. THANK YOU for taking the time to provide input on this matter!

0 -	* Forgive remaining accounts; write off the $7,047.50 owed as a loss

4 -	* Discount remaining balances 50% in exchange for immediate payment and write off the remaining $3,523.75 as a loss

4 -	* Turn the accounts over to a Collection Agency for full resolution

6 -	* Secure legal counsel and take the unresolved delinquent accounts to court for full resolution and recovery of legal fees

2 -	* ~~Neutral or~~ Other
	Other (1) – If the debtors will accept 50% deal, sign them up. If not, take to court Other (2) – Turn over to collection agency or place a lien on landowner’s property

BREAKDOWN OF VOTES AND COMMENTS:

No Input	Forgive remaining accounts	Discount remaining balances 50%	Collection Agency	Legal Counsel and Court	Neutral or Other	Comments
		X
		X				I appreciate the good work you folks are doing.
		X
		X
			X			I see no reason to give these people a break. The Association offered the units in good faith and these people should be made to live up to their obligations.
			X
			X		X	Or place lien on Landowner's Property
			X
				X		No Signature
				X
				X
				X
				X
				X
					X	If debtors will accept 50% deal, sign them up. If not, sue them.
X
X						Ineligible to Vote
X						Ineligible to Vote
X						Ineligible to Vote
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
X
54	0	4	4	6	2

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Copyright © 2008 Red Bank Oaks Property Owners' Association Last modified: 02/21/09

Copyright © 2008 Red Bank Oaks Property Owners' Association
Last modified: 02/21/09