Post by Admin on Aug 4, 2016 12:35:20 GMT -5
50saddlebag_lake_owners_association_3-31-16_fs.pdf (249.67 KB) The entire report
Here is the excerpt that discloses the 3 pending legal actions which may affect SLohA financial standing. Members should be aware that they are now "informed and on notice" and must divulge this information to any potential buyers of property in SLohA.
Note H -
The Association is a defendant in three lawsuits brought by property owners. In March 2016, a property owner filed a petition for relief from discriminatory housing practices with the Florida Commission on Human Rights. In April 2016, a property owner filed a personal injury lawsuit that is covered by the Association's general liability insurance policy. In June 2016, a property owner filed a petition with the Department of Economic Opportunity (DEO) cH allenging the validity of the revitalized Declaration of Covenants that were finalized by the DEO in May 2016. All parties are currently in negotiations and at this time, no estimate can be made of a loss or range of possible loss, if any, that may result from these pending litigations.