EDGEWATER ISLE SOUTH OA
PO BOX 871
BELMONT, CA 94002-0871


January 25, 2008


NOTICE


This notice is to inform all members of the results of the 2008 secret ballot vote on two special assessments which were counted by the Inspector of Elections on January 10, 2008.

Number of Units: 100
Number of Valid Ballots Received: 60
Number of Abstentions: 0

Resolution 1: Special Assessment for the 2007 Budget Shortfall & 2008
Offset to Regular Assessment Increase.
33 voted in favor, 27 voted against.
The special assessment was approved.

Resolution 2: Special Assessment for Deck Repairs.
32 voted in favor, 28 voted against.
The special assessment was approved.

Enclosed are instructions and payment forms for payment of these approved special assessments.

Be sure to select a payment option and mail your check so it is received by March 1, 2008.

If you have any questions, please contact Pargett Association Management at: 650-787-7521.

Regards,


Board of Directors
Edgewater Isle South OA

Encl: Instructions for Payment of Special Assessments; List of 33 Decks To Be Repaired; Single Payment Option Form; Two Payment Option Forms (March and May); two pre-addressed remittance envelopes.

 

INSTRUCTIONS FOR PAYMENT OF SPECIAL ASSESSMENTS

Homeowners have the choice of paying the 2008 special assessments in one of two ways, at each member's choice:


- In one payment due on March 1, 2008. See below for your Unit Type; or

- In two equal payments each, due on March 1, 2008 and May 1, 2008. See below for your Unit Type.


Unit Type


 

Unit 1

Unit 2

Unit 3

Unit 4

Unit 5

2007 Budget Shortfall

 

$269.90

$272.77

$272.56

$278.61

$281.06

2008 Budget Offset

 

$691.20

$697.49

$697.04

$710.32

$715.70

Deck Repair Project

 

$1,500.00

$1,500.00

$1,500.00

$1,500.00

$1,500.00

Total Assessment

 

$2,461.10

$2,470.26

$2,469.60

$2,488.92

$2,496.76


      Payment Options:


1 Payment
(due March 1, 2008)

 

$2,461.10

$2,470.26

$2,469.60

$2,488.92

$2,496.76

or

 

or

or

or

or

or

2 Payments Due:
March 1, 2008
&
May 1, 2008

 

$1,230.55

$1,235.13

$1,234.80

$1,244.46

$1,248.38

PLEASE DO THE FOLLOWING:

  1. Determine if you wish to pay the special assessment in one (1) payment, due March 1, 2008 or in two (2) installments, due March 1, 2008 and May 1, 2008.

  2. Fill out the ONE form corresponding the payment option you choose.

  3. Mail the form and your check, payable to Edgewater Isle South Owners Association, in the envelope provided so it is received by March 1, 2008.

  4. If you choose the two (2) installment payment option, mail the May form and check, payable to Edgewater Isle South Owners Association, in the envelope provided so it is received by May 1, 2008.

  5. Be sure to continue to make your current monthly assessment payments in addition to this special assessment.

PLEASE NOTE:
IF YOU DO NOT RESPOND TO EITHER PAYMENT OPTION, YOUR PAYMENT FOR THE ENTIRE AMOUNT OF THE SPECIAL ASSESSMENT WILL BE DUE IN FULL AS OF MARCH 1, 2008.

A LATE FEE OF 10% WILL BE ASSESSED FOR PAYMENTS NOT RECEIVED WITHIN 30 DAYS OF THE DUE DATE.