Agenda 04 23 09


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1. Vacant 3rd Mutual Seat
2. San Sabastian Update
3. CC&R's

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Agenda 04 23 09

  1. 1. LWV April 23, 2009 Residents Voice Conrad Grundke 04/23/2009 Residents Voice 1
  2. 2. Topics for Tonight • Status of vacant Third Mutual Board seat. • San Sebastian update. • CC&R’s. 04/23/2009 Residents Voice 2
  3. 3. Vacant 3rd Mutual Seat • A Temporary Restraining Order was issued by an OC Judge pending a hearing on the action that was taken by the Third Mutual Board when they removed Katie McDaniel from the board. • The meeting was held on April 20 at the County Courthouse where the judge heard the attorneys from both sides. • On April 22 the Judge issued an injunction until further court action is taken. 04/23/2009 Residents Voice 3
  4. 4. San Sebastian • Emergency exits: – 3 exits into LWV from the rear of the San Sebastian via “Notched Gates.” • Notched Gate is a gate that is opened with an Orange County Fire Department key. • OCFD has not yet been asked to inspect these gates for permit compliance. • Water runoff from the San Sebastian is directed to our Library Parking lot. – Same area of drainage as when CH#1 was there. 04/23/2009 Residents Voice 4
  5. 5. Library All Roof Drains Exit Here! 04/23/2009 Residents Voice 5
  6. 6. Notched Gates 04/23/2009 View from rear of Library Residents Voice 6
  7. 7. Notched Pedestrian 5.5 ft high wall Gate Behind Bocce Ball Courts 04/23/2009 Residents Voice 7
  8. 8. Bocce Ball Longs Drugs 04/23/2009 Residents Voice 8
  9. 9. 04/23/2009 Residents Voice 9
  10. 10. CC&R’s A little HISTORY 04/23/2009 Residents Voice 10
  11. 11. 1964 Mutual #1 - Co-ops Mutual #2 - Co-ops CC&R’s CC&R’s Loan Loan Assets Assets 04/23/2009 Residents Voice 11
  12. 12. 1968 United Mutual-Co-ops Third Mutual – Condos Congress discontinued HUD Guarantees for Funding Co-ops 04/23/2009 Residents Voice 12
  13. 13. 1968 - today United Mutual- Coops Third Mutual- Condos CC&R’s CC&R’s Assets Assets Two critical documents have been overlooked over the past 10 years resulting in the movement of assets from United to Third! 04/23/2009 Residents Voice 13
  14. 14. Consent to Transfer – file no. L-21 97 Pursuant to Section 3901 of the California Corporate Code, the undersigned, voting member(s) of Laguna Hill Mutual No. Twenty- One, hereby gives written consent to the transfer of the assets of Laguna Hills Mutual No. Twenty- Assets One to THIRD LAGUNA HILLS MUTUAL a California nonprofit corporation formed to acquire the assets of various Laguna Hills mutual corporations and to provide their members with 04/23/2009 Residents Voice 14
  15. 15. Consent to Transfer – file no. L-21 97 housing equal membership fees as the memberships in Laguna Hills Mutual No. Twenty- One, and the assumption by Third Laguna Hills Mutual of ALL of the liabilities, including the mortgage indebtedness, of Laguna Hills Mutual No. Twenty-One. Following said transfer of assets, assumption and liabilities and issuance of said voting membership 04/23/2009 Residents Voice 15
  16. 16. Consent to Transfer – file no. L-21 97 the undersigned consent(s) to the winding up and dissolution of Laguna Hills Mutual No. Twenty-One pursuant to the requirements of the California Corporate Code. This Consent is dependent upon the adoption of Resolution by the Board of Directors of Laguna Hills Mutual No. Twenty-One authorizing said transfer and dissolution. 04/23/2009 Residents Voice 16
  17. 17. Subscription Agreement in GRF of LH I/We hereby subscribe for membership in Golden Rain Foundation of Laguna Hills, a California non- profit corporation, at and for the price of $1,200.00 cash. I/We hereby agree to pay annual dues of $10.00. I/We hereby acknowledge receipt of copies of Articles of Incorporation and By-Laws of said corporation. 04/23/2009 Residents Voice 17
  18. 18. Conclusion • The 1968 discontinuance of funding under Title 213 forced Cortese to find alternative funding sources. • Coops and Condos were combined as a single entity, Leisure World. • HUD and PCM are the only two entities who were present during the period of Mutual consolidation and should have been aware of this. 04/23/2009 Residents Voice 18
  19. 19. The End 04/23/2009 Residents Voice 19