10-06-2010 - Four Seasons Racquet and Country Club by jizhen1947


									                                     Four Seasons Racquet and Country Club
                                        Property Owners Association, Inc.

TO:              Four Seasons Racquet & Country Club
                 Condominium Owners
FROM:            George Harris, President
DATE:            October 6, 2010
SUBJECT:         Unit 337

Your POA Board has just been informed that the current owner of Unit 337 (Federal Home Loan Mortgage
Corporation) has accepted an offer to sell Unit 337 for $40,000.00, which your POA Board believes is
significantly below market value. Unit 337 is a two bedroom / two bath condominium, which has 1,632 square
feet, and is located at 27 La Jolla Drive 1B, Lake Ozark, MO 65049. The unit does have a good lake view from
its living room and bedrooms.

Your POA Board of Directors believes that this $40,000.00 price could adversely affect future condominium sale
prices on our property.

Your Board of Directors wants to protect property values at FSRCC but also does not want to add the expense
of acquiring additional property to the POA budget.

However, please remember that our condominium documents state that any owner, who wishes to sell his unit
to any person, not related by blood or marriage to the owner, shall give to the Board no less than thirty (30)
days prior written notice of the terms of any contemplated sale, together with the name and address of the
proposed purchaser. The Board shall at all times have the first right and option to purchase upon the same
terms, which option shall be exercisable for a period of thirty (30) days following the date of receipt of such
notice; if said option is not exercised by the Board within said thirty (30) day period, the owner may, at the
expiration of said thirty (30) day period, contract to sell such to the proposed purchaser, named in such notice,
upon the terms specified therein.

The cost of acquiring the property by POA would be approximately $41,500 ($40,000.00 sales price plus
closing costs). The POA is willing to exercise its right of first refusal and resell the unit to the person submitting
the highest valid written offer to the POA exceeding $50,000.00 no later than close of business October 28,

Any valid offer must be accompanied by an earnest money cashier’s check payable to Fours Seasons Racquet
and Country Club Condominiums Property Owners Association, Inc. in the amount of $10,000.00. Any valid
offer cannot be contingent upon financing or subject to inspection.

If the POA does not receive any valid offers by close of business on October 28, 2010 it is your board’s present
intention not to exercise its right of first refusal in this instance.

If you are interested in making an offer to the POA for Unit 337 or have questions, please contact Executive
Director John Walker at john@racquetandcountryclub.com or 573-365-8011.

                               P.O. Box 2370 • Lake Ozark, Missouri 65049
                           (573) 365-8011 • (800) 541-4905 • Fax (573) 365-8500

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