Homeowners Want Out of Ridiculously Overpriced Insurance Premiums

 

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


March 17, 2008


NOTICE


This notice is to inform all members of the results of the two (2) secret ballots to
vote on whether to recall of the Board of Directors and the CC&R Amendment
regarding earthquake insurance, which were mailed as a result of a petition from
5% of the membership.

The ballots were counted by the Inspector of Elections on March 5, 2008. The
quorum for each question was 34 members (34%). The vote on whether to recall
the board was decided by the majority of those who returned their ballots. The
vote on the CC&R amendment required the affirmative vote of 75 owners.

Resolution 1: Whether to remove the entire Board of Directors.

Number of Units: 100
Number of Valid Ballots Received: 74
Number of Abstentions: 0

20 voted in favor, 54 voted against.
The resolution was not approved.

Resolution 2: Whether to amend the CC&Rs to allow a process for member
voting regarding earthquake insurance.

Number of Units: 100
Number of Valid Ballots Received: 72
Number of Abstentions: 2

38 voted in favor, 32 voted against.
The resolution was not approved.

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

Regards,

Board of Directors
Edgewater Isle South OA