Dear shareholders,
At the last meeting we agreed for the directors to write to purchasers and detail a commitment to complete some unfinished work. That prompted some questioning of the process as the item was not advertised on the agenda prior to the meeting, and some queries as to whether we had the list right.
As a result the directors met on Saturday and Maria was present at the meeting to assist us. We agreed to some small modifications, the main one being that materials for the M1/M3 pergolas would be paid for by by the unit owners, while the work would still be done by the group.
While UCOL is promising to finish these works as a priority, we have to remember that we are proposing to do this by working bees, and we need good cooperation and engagement to achieve this. The payoff for the group is that, by saving much of the cost of contractors for these jobs, we are making that available to go towards the kitchen and other stage 2 jobs we would not otherwise be able to do.
Since the group agreed to a specific text of the letter at our meeting last Thursday, I wanted everyone to have the opportunity to review the updated letter before it is officially sent. I hope these modifications mean we now have something everyone can be happy with.
*If you have any remaining objection or concerns regarding this letter, please contact the directors before 5pm tomorrow Monday.** *
Here is the latest draft letter:
Dear Purchaser,
UCOL undertakes to finish the site works, which remain unfinished on settlement day, at the earliest opportunity and in any case within 6 months of settlement. Specifically, we agree to finish:
* The High Street steps outside C1/C2 *
The fences between units in the back yards and on the boundary between private and shared areas around the common green as shown on the plans.
*
Pergolas in the back yards of A and H units as shown on the plans.
*
The earthworks outside M3 as was priced by Halls recently.
*
The boundary fence between M3 and Montpellier Street.
*
A pergola in similar construction and size as the A and H unit ones outside M1 and M3, and/or entrance covers similar to those proposed for the D units, by agreement with the Unit owners. The cost of materials for these pergolas or covers will be paid for by the owners.
In addition to the above, we also undertake to complete any further works such as the covers for the D unit entrances and any other works that were not on the plans but are seen as necessary and agreed to by the group decision making process. These "not on plan" works will only be completed on the condition that the cost of materials will be met by the unit owners.
Alex, Catherine, Anne and Susan Directors, UCOL