Posted by a Somersett Owners Association Member
Click on the following link to access a letter (posted by and republished with the permission of the author) addressed the SOA Board of Directors (BOD) regarding termination of the current Lease Agreement with the Somersett Golf and Country Club (SGCC). The homeowner is alleging that it is the fiduciary responsibility of the BOD to terminate (for reasons stated therein) the Agreement until replaced and ratified by homeowner vote, and that this issue be placed on the agenda for the October 22 BOD Meeting.
SGCC Lease Agreement Termination Letter
Comments are welcome. If you wish to submit opinions to the BOD, you may do so via email at soa@mysomersett.com
Why should the BOD not seek a refund of all payments, not only those paid since the filing of the AG compliant? The AG complaint only established the facts and the violations of law. The BOD can rely on that compliant to seek refund of all fees paid. The violation of law goes back to the original execution of the lease agreement.
I agree with Dennis. Also, at a minimum “real time” payments now going on while this matter is waiting to be settled should go into an escrow account instead of to the Club waiting there to be returned to owners or given to the Club depending on the final outcome.