Hi all,

attached and below, three reports for tomorrow night's meeting. Also attached, the final draft Body Corporate Rules for consideration and adoption tomorrow

See you tomorrow, Anne

*REPORTS FOR 28.1.21*

*Induction Workshop 30 January*

Venue: Centre for Sustainability seminar room 103.0am-12.30 pm. Shared lunch at 12.30pm Toiora Agreement workshop

Attending: Alison Wadworth

Kathy Lane

Margot Parkes + Win Parkes

Hector Wong

Tina Anderson +1

Lori Johnston

Ann Taylor

Sue Lewis

David Bainbridge-Zafar, DCC Group Manager Property Services

Sarah Warhurst, Harcourts property manager

Which units are available for rent/sale?

*Meeting with Simon Milne re. Body Corporate rules, etc*

Alex, Catherine, Donald and Anne met with Simon Milne on Wednesday afternoon.

The first priority was the body corporate rules. Following his advice on 22 Jan “I think the best option is to modify the existing set of draft rules,

” I had sent him Min’s ‘minimal’ rewrite on Sunday night. Apart from minor tweaks, the two main changes he suggested were the removal of the schedules (annual fees and long term maintenance plan) which will now be a separate document sitting alongside the body corp rules, and the removal of the section on Dispute Resolution and Mediation, because he said that was well set out in the membership agreement, and the right to go to the Tenancy Tribunal is required by the Act.

These draft rules have been sent to Stephen Edge, in the hope that he will have a chance to respond before our meeting.

*A proposed minute for the meeting: *

that we adopt the Toiora High Street Body Corporate rules (ToioraHS – v1.2-minimal)

*Insurance*

Still a work-in-progress, and most of the information received this week has been less helpful than we would like:

*re. increasing excess* - NZI have confirmed the following:

· They cannot reduce the standard excess of $2500 any lower

· We can increase the excess to $10,000 however not really worth the while as they are only prepared to offer a 10% discount on the existing structure which equates to a discount of about $150.

*re.SIPs panels *– (from Anthony)

“The Salvation Army has a big property portfolio so its new SIP-based units just come under its existing commercial policy. South Hornby School, likewise, would come under a Ministry of Ed-negotiated policy. I couldn’t track down the private school mentioned on the Formance website. The Aussie broker said Chubb was insuring SIPs buildings over there but here it seems to confine itself to high-end dwellings. His most useful advice may be that we should emphasise our proximity to the Lookout Point Fire Station in our insurance negotiations. On a positive note, the Sallies man said the occupants of the SIPs units love their comfort and energy efficiency. It’d be a shame if our power savings went straight to an insurer!”

*re. banks holding mortgages* over units - these will be listed on the insurance as “Interested Parties.”

In addition once the final policy is issued and mortgagee’s drawn down, for those that have a mortgage, each *individual* member will be required by their bank/solicitor to have a Certificate of currency issued in the entity who owns the unit. It notes the policy, the mortgagee, sum insured, unit number and entity/person/trust who owns the unit - this is common practice.

This will be quite an undertaking administratively from our point potentially issuing 24 certificates so it is very important we get the correct information first to prevent having to retype the Certificates because names are not noted correctly - typically a certificate of insurance is requested from the client’s solicitor.

We will need to know:

· Unit Number

· Insured’s full name / joint names as it appears on the mortgage including middle names

o If it is a Trust we need to know the Family Trust’s name and the full names of the Trustees of the trust

· Full name of the bank who hold the mortgage

On Tue, Jan 26, 2021 at 10:59 PM Jan Burch jrb5050@gmail.com wrote:

Kia ora Toiora

Attached is a somewhat long agenda for our meeting Thursday. The good news is that the surroundings will be comfortable. Please note *this week's meeting will be held at The Sustainability Centre, University of Otago* because NumberWorks is running a holiday course late into the evening this week. Sander has kindly booked for the next 5 Thursdays (just in case).

Feel free to continue to add to this agenda, or to suggest re-ordering if you are worried that your item may not be reached. Please join me in rejoicing in the extensive list of items, because the agenda length indicates how close we are getting to achieving our dreams.

And talking about dreams, yours could come true. Vacancies are still available for next month's Chair and notetaker.

I'll attempt to get a final agenda out on Thursday morning. Enjoy Jan _______________________________________________ Ucol-shareholders mailing list Ucol-shareholders@list.king.net.nz https://list.king.net.nz/listinfo/ucol-shareholders