We have done and will continue to do documentary diligence which, together with the result of the inspections and the work of the finance and audit committee, will allow the LLC Board and outside counsel to negotiate with the Developer to have it correct insufficiencies, or provide funds for GHCA to do so, in the condition of assets and to establish and fund reserves for future capital requirements.

At Time of Turn Over We Intend...

To have completed satisfactorily a negotiation with the Developer which, following approval by the GH and OH unit owners, has resulted in (1) the assets of GHCA being put in the condition
to which GHCA is entitled and (2) adequate reserves being established to provide funding for future capital needs.

In addition, to have documents in place identifying GHCA as the owner of the common areas.

With the assistance of outside legal and other advisors have all appropriate documents available for management appointed by the new Board to sign on January 1, 2021.

New or renegotiated contracts with third party vendors available for execution by new management of GHCA.

Goals

·  To understand and cause the Developer to meet its obligations to GHCA and to Grand Harbor/Oak Harbor homeowners, and to ensure that homeowner-elected Board is prepared to take over management of GHCA on January 1, 2021

· To identify any assets that need to be brought up to the required standard prior to takeover.
Establish proper reserves for assets that need to be replaced in the future.

·  Identify all of the Grand Harbor & Oak Harbor legal agreements with Outside organizations

·  Understand GHCA's commitments going forward