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~rry Galbraith, PresidentCarl T. Curtis, First Vice PresidentWilliam G. Ohme, Second Vice PresidentLouise Hutchison, SecretaryMildred Bovee, Treasurer.
Report No.18November 19, 1982
TO KEEP YOU INFORMED
DECISION DAY DECEMBER 15YOUR BOARD HAS VOTED TO CLOSE THE PURCHASE OF THE PARK ON DECEMBER 15, 1982.ANY RESIDENTS BUYING THEIR UNIT AND MEMBERSHIP CERTIFICATE PRIOR TODECEMBER 15, 1982 WILL BE ELIGIBLE TO PURCHASE THEIR SHARE OF HAWTHORNE ATTHE PRESENT CHARTER PRICE. EFFECTIVE THURSDAY DECEMBER 16, 1982, THE PRICEOF UNITS AND MEMBERSHIPS WILL BE INCREASED TO THE FOLLOWING AMOUNTS:
RIVER LOTS............. $13,000LAKE LOTS.............. $12,000ALL OTHER LOTS .......•. $10,000
APPOINTMENT DEADLINE: DECEMBER 13As the closing date for the purchase of Hawthorne from Colonial Penn will be Wednesday,December 15, 1982 (at 10:00 A.M.) in Orlando, it is necessary that payments for shares andmembership certificates be made on or before Tuesday December 14. This will also facilitatean orderly transfer from Colonial Penn operation to our cooperative operation. APPOINTMENTSFOR INTERVIEWS MAY BE MADE IN THE CLUBHOUSE BETWEEN 9:30 AND 12:00 (MORNINGS ONLY), MONDAYTHROUGH FRIDAY, FROM NOVEMBER ~22 THROUGH DECEMBER 13. . CHARTER MEMBERSHIPS WILL NO'rBE GRANTEDAFfER'DECEMBER 14 'AT 'TIlE ·CURRENT"PRICES. - -- ----
MONTHLY MAINTENANCE AND LEASE PAYMENTS. Starting January 1, 1983 all monthly maintenance and'lease payments will be paid to HRCA, INC. (HAWTHORNE RESIDENTS COOPERATIVE ASSOCIATION, INC.).Payments. may be made in ~he same manner as lease pa~ents are now made to Colonial PennCommunities. We encourage those who have automatic transfers made from their bank accountseach month to continue to do so. We encourage others to switch to the automatic transfers also.You will be helping to keep the cooperative accounting costs down by continuing, or arrangingfor, automatic transfers as it simplifies the accounting procedure considerably. Information onhow to request the transfer will be available to each resident early in December.
INSURANCE. Residents have been asking "What are we doing about property and casualty insuranceprotection for the cooperative"? We are in the process of getting competitive bids on property
~ld casualty insurance so we will have adequate protection for both the cooperative and thewresidents. Colonial Penn will also be protected until such time as our indebtedness to them,by reason of the note, is liquidated. The Master Property and Boiler Policy will be a blanketpolicy for the replacement cost of all the real and personal property including electronicdata processing equipment, valuable papers and named perils. The casualty insurance will~~v~~~~omprehensive general liabilit~, ~~!~r veh~cles, workers' compensa~io~.~~d.empl~ye~~s
11ab111ty, d1rectors' and ott1cers' l1ab111ty and company re1mbursement l1ab111ty, unbrellaliability, comprehensive crime bond and the necessary surety bonds.SALE OF HAWTHORNE HOMES. Effective January 1, 1983, any home sold at Hawthorne must beapproved by the Hawthorne Residents Cooperative Association, Inc. and be secured by a member-
~'iP certificate and a proprietary lease.
TOWN MEETINGA TOWN MEETING WILL BE HE.LD WEDNESDAY AFTERNOON DECEMBER 15AT 2 O'CLOCK IN THE CLUBHOUSE TO REPORT ON THE CLOSING OF--THE SALE OF HAW'TI:IORNEBY COLONIAL PENN TO THE HAWTHORNE ..RESIDENTS. MORE INFORMATION ON THE TOWN MEETING WILL BE INTHE NEXT NEWSLETTER.
WATCH CHANNEL 4 DAILY FOR IMPORTANT MESSAGES FROM HRCA, INC.A HAPPY THOUGHT ••••..IF EVERYONE COOPERATES WE CAN ELIMINATE THE MORTGAGE
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