But, Why Didn't They Just Buy The Domain Originally?

The Edgewater Isle North Homeowners Association made an unsoliciated bid to buy this domain and the copyrighted content on it for $1,500 through director, first-time home buyer Ben Cintas. Domain nor its works were never offered for sale, but Association offered it as subterfuge "a settlement" of another problem. One wonders if the lawyer who wrote this contract, complete with Very Long Sentence, was compensated more than the face value of this offer.

The domain edgewaterisle.com was purchased in 2004, long after the internet boom began. Why didn't the Edgewater Isle board(s) of directors ever have the foresight to buy this or any other domain name?

 

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Reply-to: <mkay@communitymanagement.com>
From: "Michael Kay" <mkay@communitymanagement.com>
To: "'--------------------'" <------------@yahoo.com>
Subject: Settlement Offer
Date: Thu, 20 Oct 2005 15:27:18 -0700
----------------
Following your discussions with a Board member, attached is an agreement for the Association to purchase your domain www.edgewaterisle.com, and a Release that commits you to dropping any and all claims against the Association for the recovery of expenses related to the failure of your water heater. We believe this may create a conflict with your homeowners insurance policy and the associated obligations as an insured under that contract. We recommend that you read your policy carefully before signing. Having stated this, please make your decision and communicate it back to me by 5 p.m. Wednesday, October 26, 2005.
Regards,
Michael Kay

Attachments
 

Files:
 
 
Settlement_Agr_10_18_05.doc (42k) [Preview]  


Agreement and Release

This Agreement and Release (the "Agreement") is dated for reference purposes as of                          , 2005, by and between the Edgewater Isle North Homeowners Association, a California nonprofit mutual benefit corporation (the "Association") and --------------- ("--------------"), who are referred to collectively as, the "Parties."RECITALS Association is a homeowners' association formed to own, maintain and manage the amenities and the common areas of the Edgewater Isle North condominium development (the “Project”).---------- is a resident of the Project and a Member of the Association.  -------- represents and warrants that she is the sole owner of, has all rights, interests, and title to the domain name http://edgewaterisle.com (the “Domain Name”).  ---------- further represents and warrants that there are no ownership disputes regarding the Domain Name; that she is authorized to sell the Domain Name and the sale of the Domain Name will not violate the rights of any individual or entity that is not a party to this Agreement.

Matters, all rights under '1542 of the California Civil Code are expressly waived.  California Civil Code '1542 reads as follows:


A RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OF OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.Releasor acknowledges that she has read and understood this Release, including the above cited Civil Code section.  Releasor waives any benefits and rights granted to her pursuant to Civil Code '1542.

Covenant Not to Sue.  The Parties agree that the release of the Released Matters is complete and final and that the Parties will not sue, commence or maintain any action, arbitration or other proceeding regarding the Released Matters.  If any such action has been commenced, the Parties will cause such action to be dismissed forthwith with prejudice.

Liability.  This Agreement is the result of a compromise and will never for any purpose be considered as an admission of liability or responsibility by any Released Party.

Construction of Agreement.  This Agreement is the product of negotiation and preparation by and among the Parties hereto and their respective attorneys.  The Parties therefore expressly acknowledge and agree that this Agreement shall not be deemed prepared or drafted by one Party or another, or its attorneys, and will be construed accordingly.

Governing Law.      This Agreement shall be interpreted in accordance with and governed  in all respects by the laws of the State of California

Signatures and Counterparts.  This Agreement may be signed in more than one counterpart and each signature page may be attached to one document to make one Agreement. 

Successors and Assigns.  This Agreement is binding upon and will inure to the benefit of the respective heirs, successors and assigns of the parties.

Entire Agreement.  This Agreement constitutes the entire understanding between the Parties with regard to the matters herein set forth.  There are no representations, warranties, agreements, arrangements, undertakings, oral or written, by or among the parties hereto relating to the subject matter of this Agreement which are not fully expressed herein.

 

Edgewater Isle North Homeowners Association: By:                                                                  
Its President

Print Name:                                                      Date of Execution: ____________, 2005

  --------- ---------- :                                                                         Date of Execution: ____________, 2005
     

 

EDITORIAL COMMENT: This offer is, by industry standards, ridiculously low.

Oh, and to say nothing of the outrageous statement that you would want any homeowner to release any future claim against the Association. All for a measly $1,500. SHAME ON YOU. How stupid do you think we are?