The January 13th Somersett Owners Association (SOA) Board of Directors (BOD) Meeting, under Unfinished Business, includes a “Legal Updates – Rockery Wall Update” Agenda Item. One would assume that this pertains to the SOA’s Rockery Wall failure lawsuit against Somersett Development Company et al. However, at the time of this Post there have been no new docket entries in the Appellate Court. The last one being on December 14, when the SOA filed its reply brief to the defendants brief of why the District Court decision should be upheld (For details, see SU Post of December 16th, entitled “Somersett Development Co. Rockery Wall Lawsuit Update”). Perhaps the SOA legal team has some knowledge as to an upcoming Appellate Court ruling or when the ruling will be made, as we are all waiting with “bated breath”.
Then again, there was also the Rockery Wall repair lawsuit against the Somersett Golf and Country Club (SGCC), for which a negotiated settlement was reached (For details, see SU Post of December 10th, entitled “SOA/SGCC Lawsuit Settlement”). The Court action dismissing the lawsuit may be viewed via the following link: 201218 Order to Dismiss
Per the reported settlement, the SGCC is to pay $263,097 to the SOA through an increase of $5,980 in their annual property lease payment over the remaining 44 years of the Lease Agreement. Currently there are two “rent” elements that make up the SGCC’s required annual payments, one at $1000/year subject to escalation, and one at $1200/year with no escalation. Given that the $5,980 increase was not subject to escalation, it is fair to assume that the SGCC’s annual payments will now be $1000 escalated and $7,180 non-escalated.
Which raises the following question. Is not a written amendment to the Lease Agreement required? SU suspects so in order for it to be legally binding. If such an amendment has been generated, when will it be published for the benefit of owners? Perhaps the Board can answer this question at the January 13th Board Meeting.