agenda 04 23 09
DESCRIPTION
1. Vacant 3rd Mutual Seat 2. San Sabastian Update 3. CC&R'sTRANSCRIPT
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LWV April 23, 2009 Residents Voice
Conrad Grundke
04/23/2009 1Residents Voice
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Topics for Tonight
• Status of vacant Third Mutual Board seat.
• San Sebastian update.• CC&R’s.
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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.
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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.
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Library
All Roof Drains Exit Here!
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04/23/2009 Residents Voice 6View from rear of Library
Notched Gates
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Notched PedestrianGate
Behind Bocce Ball Courts
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5.5 ft high wall
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Bocce Ball
Longs Drugs
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CC&R’sA little HISTORY
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Mutual #2 - Co-ops
1964
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Mutual #1 - Co-ops
Assets
CC&R’s
Loan
CC&R’s
LoanAssets
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1968
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United Mutual-Co-ops
Congress discontinuedHUD Guarantees for Funding Co-ops
Third Mutual – Condos
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1968 - today
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United Mutual- Coops
Third Mutual- CondosCC&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!
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Consent to Transfer – file no. L-21 97
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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-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
Assets
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Consent to Transfer – file no. L-21 97
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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
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Consent to Transfer – file no. L-21 97
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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.
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Subscription Agreement in GRF of LH
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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.
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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.
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The End
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