BULLETIN NO: 2024-02<\/p>\n
ll<\/p>\n
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\u2014<\/p>\n
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BULLETIN DATE | February 1, 2024<\/p>\n
Pamela Bashline<\/p>\n
ISSUED BY<\/p>\n
INFORMATION BULLETIN<\/p>\n
Community Services Manager<\/p>\n
Community Services Division<\/p>\n
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United Laguna Woods Mutual<\/p>\n
AUTHORITY<\/p>\n
Resolution 01-24-05<\/p>\n
ADOPTED DATE | January 9, 2024<\/p>\n
SUBJECT: United Laguna Woods Mutual Amendments to Select Pages to Resale Package<\/p>\n
On January 9, 2024, by way of Resolution 01-24-05, the United Mutual board of directors<\/p>\n
approved revisions to select pages in its resale package as summarized below:<\/p>\n
LJ<\/p>\n
On page 4, under \u201cDefinitions,\u201d \u201cAlterations\u201d is defined as any structural, functional or<\/p>\n
aesthetic change to the interior of a unit, its mechanical systems or the structural integrity<\/p>\n
of the building; or any physical, structural or aesthetic change to the exterior of a unit.<\/p>\n
On page 14, under \u201cResponsibility Agreement for Alterations,\u201d prospective shareholders<\/p>\n
must acknowledge and choose an option to accept or decline to assume responsibility for<\/p>\n
alterations\/improvements. Additionally, the differences between \u201cUnited\u2019s master insurance<\/p>\n
policy,\u201d \u201cHOG insurance\u201d and \u201cHO4 insurance\u201d were also added and clarified below:<\/p>\n
o United\u2019s master insurance policy – Property coverage for the building structure<\/p>\n
and the basic interior components such as basic cabinets, vinyl floors and melamine<\/p>\n
countertops that have not been altered.<\/p>\n
HOG6 insurance – Separate insurance policy that covers the improvements and<\/p>\n
alterations inside and outside the unit, member\u2019s personal property, liability<\/p>\n
coverage, loss of use and loss assessment coverage.<\/p>\n
HO4 insurance – Also called renters insurance; protects a renter\u2019s personal<\/p>\n
property and personal liability.<\/p>\n
LJ<\/p>\n
On page 38, under \u201cResidency Restrictions,\u201d language was added emphasizing the<\/p>\n
recommendation that members purchase HO6 insurance as follows:<\/p>\n
o HOG insurance coverage is highly recommended in order to cover improvements<\/p>\n
and alterations inside and outside the unit, personal property, liability coverage, loss<\/p>\n
of use and loss assessment coverage, that are not covered by United Mutual’s<\/p>\n
insurance policy, which would be the responsibility of the Member.<\/p>\n
PLEASE NOTE<\/p>\n
The resale package has been updated again to reflect the above-mentioned changes in addition<\/p>\n
to other additional administrative changes. The amended resale package is dated 1\/30\/2024, and<\/p>\n
a separate informational bulletin will be sent out outlining the remaining administrative changes.
\nBULLETIN NO: 2024-02<\/p>\n
To find the most recent resale packet dated 1\/30\/2024, visit lagunawoodsvillage.com ><\/p>\n
Neighborhoods > Realtor & Escrow Information > Resale Package and select United<\/p>\n
Laguna Woods Mutual.<\/p>\n
Realtors and escrow officers are requested to inform their staff of these requirements.<\/p>\n
Please note: The website location for all mutual policies may change when the new website is<\/p>\n
completed.<\/p>\n
Important: Please always refer to the website for the most current documents.<\/p>\n
Email resalesrequirements@vmsinc.org with questions about the resale packet. Thank you.<\/p>","protected":false},"author":2,"featured_media":0,"template":"","document_category":[1227],"document_type":[53],"class_list":["post-49776","document","type-document","status-publish","hentry","document_category-realtor-info-bulletins","document_type-other"],"acf":{"document":47613,"resolutions":null,"legacy_id":"9079","pdf_extracted_text":""},"yoast_head":"\n