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GOVERNING DOCUMENTS UPDATE REPORT 2-9-09

GOVERNING DOCUMENTS UPDATE REPORT 2-9-09

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GOVERNING DOCUMENTS UPDATE REPORT 2-9-09

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  1. GOVERNING DOCUMENTS UPDATE REPORT 2-9-09 In October 2008, I agreed to head a committee to develop a plan to make changes to the Governing Documents inasmuch as the current documents include developer language that should be deleted and need statutory updates as well as clarification of other sections. I formed the Committee who consist of myself; Treasurer, Nick Cole; Covenants Committee Chair, Kathy Feister; Covenants committee members Jack Sundholm and Muriel Neal; and Sherry Danko, Star Hospitality Manager. The Committee met in January 2009 and formed the following plan:

  2. COVENANTS UPDATE PLAN January 2009 • Inasmuch as the Developer maintained some say in the Documents, our first plan of action is to advise the Developer that a Committee sanctioned by the POA is undertaking the task of updating our Governing Documents, and request support from the Developer. • Identify substantive changes to Governing Documents, as follows: • a. Weekly meetings will be held to review the • Governing Documents, page by page, to • identify major areas of change.

  3. b. Invite current Board members to meeting on Friday, Jan. 23rd and past Board members to second meeting on Friday, Jan. 30th and ask for their “list” of suggested substantive changes. • Present Covenants Update Plan at February Board meeting. • After changes are identified and documented, residents will be advised in writing of the process and defining the major changes the Committee is suggesting be made. • A town hall meeting will be scheduled for all residents to attend for a Q&A session.

  4. The letter will have a tear-off section for • written responses from residents. • If positive feedback is received from Community, we will meet with Attorneys to request a price estimate for the following: • a) make the major changes to the documents • b) identify and change the items in conflict • with the current law • c) identify and change items that no longer • apply relating to turnover from the Developer • d) clarify vague/ambiguous language • If positive feedback is not received from the Community, the Committee will review next steps.

  5. VI. Make presentation to the Board with motion to proceed with the process. VII. Attorney does the work and presents a Draft which is then presented to the Residents and the Board. VIII. Set up special Meeting for a Vote.

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