Phase II Settlement

The AOBO Board met today and there were many important decisions.  I wanted to give you the first one that was resolved.

The Trust had offered to settle any and all remaining Phase II land lease redetermination issues, and the AOBO Board voted to approve the settlement.

The provisions of this settlement are that:

(1) As to all homeowners who pay or have paid the past due rent by January 10, 2014, the Lessors will waive all interest. They had previously requested an award of interest dating back to January 2012.

(2) As to all homeowners who have not paid the past due rent in full on or before January 10, 2014, the Lessors have offered a payment plan.  The details will be distributed to all Phase II homeowners who have yet to pay their past due balances.

(3) In exchange for the Trust waiving claims on interest for amounts paid by January 10, 2014, the AOBO will dismiss all pending legal appeals and/or motions with prejudice (which means that they will be dismissed permanently) arising out of the Lease redetermination.  No claims will be made for the payment of legal fees by either party.

(4)  The Trust will dismiss with prejudice any and all pending legal proceedings arising out of the Lease redetermination.

(5) There will be a full waiver of any and all claims by both sides relating to the Lease redetermination.

The AOBO feels that this is a fair resolution and that it is in everyone's best interest to put the legal proceedings to an end regarding the Phase II redetermination.

Please direct any questions to Ben Miller at bmiller450@aol.com

Randy