UNITED LAGUNA WOODS<\/p>\n
MUTUAL<\/p>\n
Resale Package<\/p>\n
This package contains all documents required for transacting a resale in United Laguna Woods Mutual<\/p>\n
(United). United is a cooperative where each shareholder\/member is granted the right to occupy a<\/p>\n
specific unit under the terms of each Occupancy Agreement together with ownership of one share in the<\/p>\n
cooperative. The resale process differs from a condominium, and this package is to assist you in the<\/p>\n
process.<\/p>\n
This package contains key information that the seller, potential buyer and real estate\/escrow company<\/p>\n
should know. To ease the process, a document checklist has been created for each.<\/p>\n
Before you get started, ensure that the potential buyer meets the qualifications to own a share of stock<\/p>\n
and reside in United. The prospective buyer must meet the following requirements:<\/p>\n
o Age restriction (be at least 55 years of age);<\/p>\n
[m]<\/p>\n
Financial qualifications:<\/p>\n
o Assets equal to the purchase price of the unit plus $125,000;<\/p>\n
[\u00a2]<\/p>\n
Income of at least $40,000 per year at the time of purchase (for more information refer to the<\/p>\n
financial qualifications policy found on the Laguna Woods Village website under Sales); and<\/p>\n
o You may not own or be listed on more than one certificate.<\/p>\n
If all of the above conditions are met, proceed with familiarizing yourself with the key definitions in this<\/p>\n
package and submit the required documents for review by the United Board of Directors (board). Only<\/p>\n
completed form submittals shall be accepted. Failure to provide accurate contact information can<\/p>\n
delay the process. The information escrow provides must be legible for digital imaging.<\/p>\n
If you require additional information or assistance, contact a membership counselor at email<\/p>\n
Sales@vmsinc.org.<\/p>\n
The resale packages are processed by Community Services. Normal business hours of operation are<\/p>\n
Monday through Friday, 8 a.m. to 5 p.m.<\/p>\n
United Resale Package<\/p>\n
Page 1 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014<\/p>\n
Table of Contents<\/p>\n
Escrow forms<\/p>\n
Definitions<\/p>\n
Fees<\/p>\n
Escrow Documentation Checklist<\/p>\n
Criminal Background Report Instructions<\/p>\n
First and Final Inspection Report Request and Intention to Leave Corporation<\/p>\n
Final Resale Inspections: Process for Corrections Noted<\/p>\n
Resale Notification<\/p>\n
Escrow Closing Information<\/p>\n
10<\/p>\n
1<\/p>\n
Escrow Closing Notification and Remittance Report<\/p>\n
12<\/p>\n
Responsibility Agreement for Nonstandard Landscape<\/p>\n
13<\/p>\n
Responsibility Agreement for Alterations<\/p>\n
14<\/p>\n
Memorandum of Termination of Occupancy Agreement<\/p>\n
Shareholder\/Membership Application<\/p>\n
16<\/p>\n
United Mutual Membership and Occupancy Requirements<\/p>\n
17<\/p>\n
Golden Rain Foundation Trust Facilities Fee<\/p>\n
18<\/p>\n
Promissory Note for Trust Facilities Fee<\/p>\n
19<\/p>\n
Promissory Note Continued<\/p>\n
20<\/p>\n
Financial Statement and Credit Information<\/p>\n
21<\/p>\n
Financial Assets<\/p>\n
22<\/p>\n
Annual Insurance Disclosure and Policy Summary – October 1, 2025<\/p>\n
23<\/p>\n
Residency Restrictions Important Information \u2014 Please Read Carefully<\/p>\n
25<\/p>\n
Key File Program<\/p>\n
26<\/p>\n
Instructions for Trustee Shareholder Membership<\/p>\n
27<\/p>\n
Occupancy Agreement<\/p>\n
28<\/p>\n
Addendum to Occupancy Agreement \u2014 Trustee Membership<\/p>\n
34<\/p>\n
Stock Assignment Separate from Certificate<\/p>\n
35<\/p>\n
Interim Dual Membership Agreement<\/p>\n
36<\/p>\n
Memorandum of Occupancy Agreement<\/p>\n
38<\/p>\n
40<\/p>\n
Subordination Agreement<\/p>\n
41<\/p>\n
Application for Co-occupancy Permit<\/p>\n
42<\/p>\n
Application for Co-occupancy Permit \u2014 Page 2<\/p>\n
43<\/p>\n
Disclosure notice: Asbestos-containing construction materials<\/p>\n
United Resale Package<\/p>\n
Page 2 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014<\/p>\n
Definitions<\/p>\n
Alterations \u2014 Any structural, functional or aesthetic change to the interior of a unit, its mechanical<\/p>\n
systems or the structural integrity of the building; or any physical, structural or aesthetic change to the<\/p>\n
exterior of a unit.<\/p>\n
Application \u2014 The form prescribed by United to apply for approval to purchase a share in United.<\/p>\n
Approval \u2014 Written authorization by the United Board of Directors.<\/p>\n
Assessment \u2014 The monthly amounts that shareholder\/members are bound to pay pursuant to the<\/p>\n
terms of their respective Occupancy Agreements. Also known as carrying charges.<\/p>\n
Buyer – A prospective shareholder\/member who intends to purchase the right to occupy a particular<\/p>\n
unit in United.<\/p>\n
Certificate \u2014 A document verifying stock ownership and membership in United.<\/p>\n
Charge \u2014 A fee, fine and\/or monetary penalty that United may levy upon a shareholder\/member<\/p>\n
pursuant to the governing documents.<\/p>\n
Cohabitants \u2014 Persons who live together as spouses or persons who are domestic partners within the<\/p>\n
meaning of Section 297 of the Family Code.<\/p>\n
Community \u2014 Laguna Woods Village.<\/p>\n
Co-occupant \u2014 Nonmember resident as defined by Civil Code 51.3 and who is approved by the board<\/p>\n
of directors.<\/p>\n
Cooperative \u2014 In a cooperative, shareholders are members of a corporation that owns all real property,<\/p>\n
including the dwelling units, carports and laundry facilities within the mutual\u2019s boundaries, and each<\/p>\n
shareholder is entitled to occupy a specific dwelling unit under the terms of an Occupancy Agreement.<\/p>\n
Also known as \u201ccorporation.\u201d<\/p>\n
Corporation \u2014 United is a California nonprofit mutual benefit corporation.<\/p>\n
Golden Rain Foundation (GRF) \u2014 The Golden Rain Foundation of Laguna Hills, a California nonprofit<\/p>\n
mutual benefit corporation. GRF oversees the community facilities and services, including recreational<\/p>\n
facilities and amenities.<\/p>\n
Governing documents \u2014 All of the following, collectively: the articles of incorporation, bylaws;<\/p>\n
Occupancy Agreements, rules and regulations, and any resolutions or policies of the board; all the<\/p>\n
same may be lawfully amended or modified from time to time.<\/p>\n
Identification (ID) card \u2014 Photo ID card issued by GRF to shareholders\/members, co-occupants and<\/p>\n
sublessees of the community authorizing use and access to the community facilities.<\/p>\n
Shareholder\/Member – Entitled to membership in United and approved by the board of directors to<\/p>\n
exclusively occupy a unit and to whom a stock and\/or membership certificate of the corporation has<\/p>\n
been issued. Also known as a qualified resident.<\/p>\n
United Resale Package<\/p>\n
Page 3 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014\u2014<\/p>\n
Occupancy Agreement \u2014 The agreement between United and its shareholder\/member, respectively,<\/p>\n
under the terms of which said shareholder\/members are entitled to enjoy possession of their respective<\/p>\n
units and the use of facilities owned by United and GRF.<\/p>\n
Qualifying Resident \u2014 Any person who is at least 55 years of age and who has been approved by the<\/p>\n
board of directors for occupancy of a unit.<\/p>\n
Seller – Individual(s) named on a membership certificate or an estate representative who intends to<\/p>\n
dispose of the United share of stock.<\/p>\n
Staff \u2014 Employees of the managing agent authorized to act on behalf of United.<\/p>\n
Sublessee(s) \u2014 A person who subleases a unit from a shareholder\/member and approved by the board<\/p>\n
of directors.<\/p>\n
United \u2014 A nonprofit cooperative housing corporation that owns and manages all real property within<\/p>\n
the original 21 cooperative mutuals.<\/p>\n
Unit \u2014 A cooperative dwelling owned by United Mutual; specifically, the exclusive rights to occupy a<\/p>\n
specific portion of real property with the development.<\/p>\n
Vehicle decals \u2014 Identifying marker, supplied by GRF, for Resident access and parking within the<\/p>\n
Community other than by guests or contractors.<\/p>\n
Fees<\/p>\n
The following fees are associated with the resale of the share of stock:<\/p>\n
Administration Fee<\/p>\n
$350<\/p>\n
First Inspection Fee<\/p>\n
$360<\/p>\n
Re-Inspection (if required)<\/p>\n
$60<\/p>\n
Final Inspection (if required)<\/p>\n
$110<\/p>\n
Escrow Cancellation<\/p>\n
$112<\/p>\n
GRF Trust Facilities Fee<\/p>\n
$10,000<\/p>\n
Additional Fee for Recording of Memorandums for<\/p>\n
$280<\/p>\n
Cash Sales<\/p>\n
Failure to Surrender ID Cards<\/p>\n
$125<\/p>\n
Monthly United Mutual Occupancy Fee for each<\/p>\n
$50<\/p>\n
Additional Occupant Over Two (includes overnight<\/p>\n
caregivers)<\/p>\n
Monthly GRF Occupancy Fee for each Additional<\/p>\n
$131<\/p>\n
Occupant Over Two (overnight caregivers exempt)<\/p>\n
United Resale Package<\/p>\n
Page 4 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
\u2014\u2014M UTUA<\/p>\n
\u2014<\/p>\n
Escrow Documentation Checklist<\/p>\n
Included<\/p>\n
+<\/p>\n
Documents to be completed, signed, dated and provided.<\/p>\n
Criminal Background Report, page 6<\/p>\n
First and Final Inspection Report Request and Intention to Leave Corporation, page 7<\/p>\n
Resale Notification, page 9<\/p>\n
Escrow Instructions (Escrow provided)<\/p>\n
United Stock Certificate (original) or Lost Instrument Bond (original)<\/p>\n
Escrow Closing Information, page 10<\/p>\n
Escrow Closing Notification and Remittance Report, page 11<\/p>\n
Responsibility Agreement for Nonstandard Landscape, page 12<\/p>\n
Responsibility Agreement for Alterations, page 13<\/p>\n
10<\/p>\n
Memorandum of Termination of Occupancy Agreement, pages 14-15<\/p>\n
1″<\/p>\n
Shareholder\/Membership Application, page 16<\/p>\n
12<\/p>\n
United Mutual membership and Occupancy Requirements, page 17<\/p>\n
13<\/p>\n
Golden Rain Foundation Trust Facilities Fee, page 18<\/p>\n
14<\/p>\n
Promissory Note, pages 19-20<\/p>\n
15<\/p>\n
Financial Statement and Credit Information, pages 21-22<\/p>\n
Verifications for all income and assets listed in the Financial Statement and Credit Information<\/p>\n
form (i.e., copies of current federal income tax returns, signed and dated, including Schedules A &<\/p>\n
B, copies of bank statements, stock certificates, 1099s, property tax bills, investment account<\/p>\n
statements, etc.). See United\u2019s Financial Qualifications Policy<\/p>\n
16<\/p>\n
Assessment\/Charges Guarantor Obligation Form (if applicable) \u2014 attached to Financial<\/p>\n
Qualifications Policy<\/p>\n
17<\/p>\n
Residency Restrictions, page 25<\/p>\n
18<\/p>\n
Occupancy Agreement, page 28<\/p>\n
19<\/p>\n
Addendum to Occupancy Agreement \u2014 Trustee Membership (if applicable), page 34<\/p>\n
20<\/p>\n
Stock Assignment Separate from Certificate, page 35<\/p>\n
21<\/p>\n
Interim Dual Membership Agreement (if applicable), pages 36-37<\/p>\n
22<\/p>\n
Memorandum of Occupancy Agreement, pages 38-39<\/p>\n
23<\/p>\n
Subordination Agreement (if applicable), page 40<\/p>\n
24<\/p>\n
Application for Co-occupancy Permit (if applicable), pages 41-42<\/p>\n
Requirements for closing escrow<\/p>\n
1<\/p>\n
To make the necessary arrangements for the final inspection of the unit, email Resale Inspections at<\/p>\n
ResalesInspections@vmsinc.org a minimum of five days prior to the close of escrow.<\/p>\n
2<\/p>\n
For an update regarding outstanding payments, late charges and service charges, email Accounting at<\/p>\n
escrowfinalupdate@vmsinc.org.<\/p>\n
3<\/p>\n
All Resident ID cards must be collected from seller and brought to Community Services with the complete Resale<\/p>\n
Packet or before requesting the final demand to avoid the non-refundable $125 charge for each card not<\/p>\n
returned. If the seller had financing on his\/her unit, the membership stock certificate must be requested from the<\/p>\n
lender. Note: In the event that seller cannot produce the membership stock certificate, the seller must obtain a<\/p>\n
lost instrument bond.<\/p>\n
Following the board of directors\u2019 waiver of purchase and Community Services\u2019 authorization to close escrow, the<\/p>\n
following are required:<\/p>\n
a. Escrow Closing Notification and Remittance Report and Escrow Closing Information<\/p>\n
b. Issuance of separate checks to cover agency and depository items<\/p>\n
Allow at least 21 or more business days to obtain board approval after receipt by this office.<\/p>\n
United Resale Package<\/p>\n
Page 5 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014<\/p>\n
CRIMINAL BACKGROUND REPORTS INSTRUCTIONS<\/p>\n
In order to promote the safety and well-being of all United Laguna Woods Mutual residents, it<\/p>\n
is United Mutual’s policy that all prospective members, occupants, caregivers and subtenants<\/p>\n
submit a comprehensive national criminal background report with their respective applications<\/p>\n
The report should include searches for:<\/p>\n
LJ<\/p>\n
National security\/terrorism\/Patriot Act\u2019 OFAC information<\/p>\n
LJ<\/p>\n
Misdemeanor and felony charges<\/p>\n
LJ<\/p>\n
Offense details and convictions<\/p>\n
LJ<\/p>\n
Sex offender registration status<\/p>\n
LJ<\/p>\n
Any other relevant criminal history<\/p>\n
For past convictions and criminal history, the United Board will evaluate the nature and severity of<\/p>\n
the offense as well as the time that has passed since its occurrence. Decisions will be based<\/p>\n
on verified facts rather than a perceived threat.<\/p>\n
United Mutual will not use criminal background reports to obtain or consider information relating<\/p>\n
to race, color, religion, sex, familial status, national origin, sexual orientation, marital status,<\/p>\n
ancestry, source of income or disability to evaluate the applicant. Information will be used only<\/p>\n
to evaluate the applicant’s housing request. The purpose of this requirement is to help reduce<\/p>\n
potential risks to the safety and well-being of United residents.<\/p>\n
All resale packets must contain a copy of the applicant’s criminal background report.<\/p>\n
Example websites:<\/p>\n
www.tenantbackgroundsearch.com<\/p>\n
www.e-renter.com\/services\/tenant-screening<\/p>\n
www.applycheck.com\/our-products (for domestic and international checks)<\/p>\n
United Resale Package<\/p>\n
Page 6 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014<\/p>\n
First and Final Inspection Report Request and Intention to Leave Corporation<\/p>\n
[1<\/p>\n
Intention to Leave Corporation – Per Article 4 of the Occupancy Agreement.<\/p>\n
[1<\/p>\n
Request for First Inspection Report – Per Resolution 01-25-06, a first inspection fee will be billed as a<\/p>\n
chargeable service to the seller. The first inspection report is valid for six months.<\/p>\n
[1<\/p>\n
Request for Re-Inspection Report – Per Resolution 01-25-06, a re-inspection fee will be collected through escrow,<\/p>\n
if required.<\/p>\n
[1<\/p>\n
Request for landscape corrections – Per Resolution 01-18-55, all corrections must be completed by close of<\/p>\n
escrow. Checking this box indicates request for landscape corrections to be completed as a chargeable service<\/p>\n
upon receipt of the first inspection report.<\/p>\n
[1<\/p>\n
Request for Final Inspection Report – Per Resolution 01-25-06, a final inspection fee will be collected through<\/p>\n
escrow, if required.<\/p>\n
[1<\/p>\n
Update information<\/p>\n
Seller’s acknowledgement of fees\/Date<\/p>\n
Laguna Woods Village<\/p>\n
Date<\/p>\n
Resale Inspections Dept.<\/p>\n
Unit number<\/p>\n
P.O. Box 2220<\/p>\n
Street name<\/p>\n
Laguna Hills, CA 92654-2220<\/p>\n
Occupied Vacant<\/p>\n
Fax: 949-268-2403<\/p>\n
Carport number<\/p>\n
Email: Resaleslnspections@vmsinc.org<\/p>\n
Escrow company \u2014 Used for status updates<\/p>\n
Company name:<\/p>\n
Escrow officer:<\/p>\n
Escrow number:<\/p>\n
Address:<\/p>\n
Phone number:<\/p>\n
Fax number:<\/p>\n
Escrow office email:<\/p>\n
Estimated escrow close date:<\/p>\n
Seller\u2019s real estate company \u2014 Used for status updates<\/p>\n
Company name:<\/p>\n
Agent name:<\/p>\n
Address:<\/p>\n
Phone number:<\/p>\n
Fax number:<\/p>\n
Agent email:<\/p>\n
Buyer<\/p>\n
Name:<\/p>\n
Address:<\/p>\n
Phone number:<\/p>\n
Cell phone:<\/p>\n
Seller<\/p>\n
Shareholder of record:<\/p>\n
Address:<\/p>\n
Phone number:<\/p>\n
Inspections on co-ops include interior inspections (how we are to enter the property)<\/p>\n
Lockbox:<\/p>\n
Contact seller:<\/p>\n
Contact agent:<\/p>\n
United Resale Package<\/p>\n
Page 7 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014<\/p>\n
Final Resale Inspections: Process for Corrections Noted<\/p>\n
The resale inspection process provides a record of all items for which correction will be required. All items noted<\/p>\n
as corrections on the final inspection report must be completed prior to the close of escrow.<\/p>\n
Issuance of service orders<\/p>\n
Service orders will be entered for all items of work noted in the corrections report for which the mutual is<\/p>\n
responsible. All service orders will be dispatched either to in-house technicians or to outside vendors for<\/p>\n
processing.<\/p>\n
Completion of work<\/p>\n
All corrections not listed as \u201cmutual charged\u201d must be complete by the close of escrow.<\/p>\n
Corrections by members<\/p>\n
Once corrections are complete, the seller(s) must email ResalesInspections@vmsinc.org to schedule a final<\/p>\n
inspection. If corrections are found to be incomplete at the final inspection, an additional re-inspection fee will be<\/p>\n
charged to the seller(s).<\/p>\n
Inspection\/Verification requirement<\/p>\n
Once notified of completion, an inspection by the corporation’s agent to confirm completion will be required<\/p>\n
for each item of work completed by the seller(s).<\/p>\n
United Resale Package<\/p>\n
Page 8 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014<\/p>\n
Resale Notification<\/p>\n
Unit address:<\/p>\n
Escrow number:<\/p>\n
Date:<\/p>\n
An escrow has been opened that involves a proposed sale and transfer of the shareholder in United and Golden<\/p>\n
Rain Foundation of Laguna Woods Village as follows:<\/p>\n
Seller’s broker:<\/p>\n
Buyer’s broker:<\/p>\n
Agent name:<\/p>\n
Agent name:<\/p>\n
Agent phone:<\/p>\n
Email:<\/p>\n
Agent phone:<\/p>\n
Email:<\/p>\n
Seller(s):<\/p>\n
Buyer(s) and vesting:<\/p>\n
Name(s) of person(s) who will reside:<\/p>\n
Selling price $<\/p>\n
In accordance with your instructions, the following are enclosed:<\/p>\n
Escrow Instructions (from Escrow company)<\/p>\n
Criminal Background Report (from Escrow company)<\/p>\n
Resale Notification<\/p>\n
United Stock Certificate (original) or Lost Instrument Bond (original)<\/p>\n
First Inspection Report (from Escrow company)<\/p>\n
Responsibility Agreement for Nonstandard Landscape<\/p>\n
Responsibility Agreement for Alterations<\/p>\n
Memorandum of Termination of Occupancy Agreement (signed by each seller)<\/p>\n
9<\/p>\n
Shareholder\/Membership Application (age and identity verification for each applicant)<\/p>\n
10<\/p>\n
United Mutual Membership and Occupancy Requirements (initialed by each buyer)<\/p>\n
1″<\/p>\n
Golden Rain Foundation Trust Facilities Fee<\/p>\n
12<\/p>\n
Trust Facilities Fee Promissory Note (if applicable)<\/p>\n
13<\/p>\n
Financial Statement and Credit Information (income and asset verification for each applicant)<\/p>\n
14<\/p>\n
Residency Restrictions (initialed by each buyer)<\/p>\n
15<\/p>\n
Occupancy Agreement (signed by each proposed buyer)<\/p>\n
16<\/p>\n
Addendum to Occupancy Agreement \u2014 Trustee Membership (if applicable)<\/p>\n
17<\/p>\n
Stock Assignment Separate from Certificate (if applicable)<\/p>\n
18<\/p>\n
Interim Dual Membership Agreement (if applicable)<\/p>\n
19<\/p>\n
Memorandum of Occupancy Agreement (signed by each proposed buyer)<\/p>\n
20<\/p>\n
Subordination Agreement (if applicable) (signed by each proposed buyer)<\/p>\n
21<\/p>\n
Application for Co-occupancy Permit (if applicable) (age and identity verification)<\/p>\n
The undersigned (escrow officer) hereby attests that a request for first inspection was submitted to Resale Inspections<\/p>\n
Dept. on<\/p>\n
. Itis understood that a final inspection, if required, shall be submitted to the buyer(s) prior to<\/p>\n
the close of escrow. If United waives its option to purchase and approves the proposed shareholder\/member, and<\/p>\n
so informs us in writing, we will then proceed with the processing of this escrow, which is scheduled to close on or about<\/p>\n
(date).<\/p>\n
By:<\/p>\n
For:<\/p>\n
Escrow officer<\/p>\n
Escrow company<\/p>\n
For office use only:<\/p>\n
Yes<\/p>\n
No<\/p>\n
Meets age requirement<\/p>\n
[m}<\/p>\n
[m]<\/p>\n
Verified by:<\/p>\n
Meets income requirement?<\/p>\n
[m}<\/p>\n
[m]<\/p>\n
Meets asset requirement?<\/p>\n
[m}<\/p>\n
a<\/p>\n
Exceeds the number of stock allowed?<\/p>\n
[m}<\/p>\n
[m]<\/p>\n
Membership Counselor<\/p>\n
Action by mutual board of directors: By approving this application for membership, United waives the option to<\/p>\n
purchase the membership, subject to the conditions that both buyer(s) and seller(s) comply with the requirements of the<\/p>\n
mutual prior to the close of escrow, and that neither the mutual nor the Golden Rain Foundation shall incur any<\/p>\n
expenses in this transaction. The approval and waiver shall be effective as of the close of escrow.<\/p>\n
United Resale Package<\/p>\n
Page 9 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014<\/p>\n
Escrow Closing Information<\/p>\n
Mail to:<\/p>\n
Deliver to:<\/p>\n
Laguna Woods Village<\/p>\n
Laguna Woods Village, Community Center<\/p>\n
Community Services Division: Resales<\/p>\n
Community Services Division: Resales<\/p>\n
P.O. Box 2220<\/p>\n
24351 El Toro Road<\/p>\n
Laguna Hills, CA 92654-2220<\/p>\n
Laguna Woods, CA 92637<\/p>\n
Email: EscrowClosings@vmsinc.org<\/p>\n
Escrow number:<\/p>\n
Unit number:<\/p>\n
Closed date:<\/p>\n
We request gate access passes or ID cards to be issued as follows:<\/p>\n
Resident members<\/p>\n
Nonresident members<\/p>\n
Nonmember residents<\/p>\n
Your assistance is appreciated.<\/p>\n
Sincerely,<\/p>\n
Escrow Officer<\/p>\n
Name of escrow\/Realty company\/Representative:<\/p>\n
Escrow phone number:<\/p>\n
Escrow email:<\/p>\n
United Resale Package<\/p>\n
Page 10 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WO<\/p>\n
MUTUA<\/p>\n
ops<\/p>\n
Escrow Closing Notification and Remittance Report<\/p>\n
Escrow number:<\/p>\n
Escrow company:<\/p>\n
Unit number<\/p>\n
Escrow officer:<\/p>\n
Date<\/p>\n
Escrow phone number:<\/p>\n
Email:<\/p>\n
Closing date<\/p>\n
Please be advised escrow has closed. Attached are payments, charges and\/or fees due per your demand<\/p>\n
1<\/p>\n
Depository account: Separate check, made payable to Laguna Woods Village, representing the following:<\/p>\n
a. Monthly assessment due for the period (date):<\/p>\n
$<\/p>\n
b. Late charges<\/p>\n
$<\/p>\n
c. Other<\/p>\n
$<\/p>\n
Total<\/p>\n
$<\/p>\n
Agency account: Separate check, made payable to Golden Rain Foundation, representing<\/p>\n
the following:<\/p>\n
a<\/p>\n
Administration fee (United * $350)<\/p>\n
*Additional fee for recording of Memorandums for cash sale (United $280)<\/p>\n
Final inspection fee (if required) (United $110)<\/p>\n
Re-inspection fee (if required) (United $60)<\/p>\n
Chargeable services (includes first inspection fee and other costs)<\/p>\n
Cable TV (broadband services)<\/p>\n
Failure to surrender ID card(s) ($125 each) (non-refundable)<\/p>\n
Physical properties corrections or repairs<\/p>\n
Nonstandard landscape restoration charges<\/p>\n
Contingency for inspection corrections and landscaping estimates:<\/p>\n
Funds paid by seller<\/p>\n
Funds paid by buyer<\/p>\n
Trust facilities fee ($10,000)<\/p>\n
Other:<\/p>\n
Total<\/p>\n
$<\/p>\n
Total<\/p>\n
$<\/p>\n
Supplemental property tax: Separate check, made payable to United Mutual<\/p>\n
In addition, we enclosed the following:<\/p>\n
[ 1] Occupancy Agreement with term to begin at close of escrow<\/p>\n
[ ] Gate entry passes and ID cards<\/p>\n
[ ] Other<\/p>\n
Date final inspection was completed by Resale Inspections Dept.<\/p>\n
Date:<\/p>\n
Seller forwarding address<\/p>\n
Name(s):<\/p>\n
Street:<\/p>\n
City, State Zip:<\/p>\n
Phone number:<\/p>\n
Lender information<\/p>\n
Date:<\/p>\n
Company Name:<\/p>\n
Street:<\/p>\n
Loan number:<\/p>\n
City, State Zip:<\/p>\n
Phone number:<\/p>\n
O Yes<\/p>\n
If unit financing is involved in the resale of a cooperative, the Memorandum of Occupancy<\/p>\n
Agreement and the Memorandum of Termination of Occupancy Agreement have been<\/p>\n
O No<\/p>\n
submitted to the Orange County Recorder on the date of closing, and the originals have been<\/p>\n
O n\/a<\/p>\n
mailed to the Laguna Woods Village Community Services Resale Department.<\/p>\n
United Resale Package<\/p>\n
Page 11 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
\u2014\u2014M UTUA<\/p>\n
\u2014<\/p>\n
Responsibility Agreement for Nonstandard Landscape<\/p>\n
Unit address:<\/p>\n
This form is to be completed by the escrow office and must be received before the issuance of a final<\/p>\n
inspection.<\/p>\n
1<\/p>\n
Email completed form to ResalesInspections@vmsinc.org as soon as possible in order for a work<\/p>\n
order to be established.<\/p>\n
2<\/p>\n
Include this document with the membership application package.<\/p>\n
This office has been notified that the unit noted above has nonstandard landscape, and both the prospective<\/p>\n
shareholder and seller have been informed accordingly. If the prospective shareholder declines to accept the<\/p>\n
nonstandard landscape, Landscape will perform the work as a chargeable service, and the seller is<\/p>\n
responsible for all costs.<\/p>\n
In accordance with the governing rules of United Laguna Woods Mutual, the prospective shareholder understands<\/p>\n
that he\/she may accept or refuse to accept the nonstandard landscaping. Further, the prospective shareholder<\/p>\n
understands that if he\/she accepts it, he\/she also accepts all future responsibility for its care and maintenance,<\/p>\n
and all associated costs thereof.<\/p>\n
Both prospective shareholder and seller understand that if the prospective shareholder refuses to accept such<\/p>\n
responsibility, the seller is required to pay the costs of all work required to restore the landscaping to the<\/p>\n
community standard, including the removal of nonstandard plants and hardscape, and the planting of standard<\/p>\n
plants.<\/p>\n
Acknowledgement by prospective shareholder<\/p>\n
[1]<\/p>\n
Prospective shareholder accepts the nonstandard landscaping and agrees to be responsible for any and<\/p>\n
all costs related to its future maintenance.<\/p>\n
[1]<\/p>\n
Prospective shareholder declines to accept the nonstandard landscaping and directs the escrow officer<\/p>\n
to so inform the management agent. Restoration costs are to be withheld from the proceeds of resale<\/p>\n
transfer of membership.<\/p>\n
Signature<\/p>\n
Print name<\/p>\n
Date<\/p>\n
Signature<\/p>\n
Print name<\/p>\n
Date<\/p>\n
Acknowledgement by seller<\/p>\n
Seller has been informed that the unit has nonstandard landscaping. Seller will be charged the amount shown<\/p>\n
on the inspection report to restore the property to community standard landscaping if the prospective<\/p>\n
shareholder refuses to accept the nonstandard landscaping.<\/p>\n
Signature<\/p>\n
Print name<\/p>\n
Date<\/p>\n
Signature<\/p>\n
Print name<\/p>\n
Date<\/p>\n
Escrow No.:<\/p>\n
Date:<\/p>\n
Escrow officer signature:<\/p>\n
United Resale Package<\/p>\n
Page 12 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014\u2014<\/p>\n
Responsibility Agreement for Alterations<\/p>\n
| have received an inspection report that identifies alterations\/improvements which have been made by previous<\/p>\n
shareholder\/members, and | agree that | will be responsible for the care and maintenance of all<\/p>\n
alterations\/improvements made previously or that | may make in the future.<\/p>\n
*NOTE<\/p>\n
It is strongly recommended that shareholders\/members\/tenants purchase HO6\/HO4 insurance for events and<\/p>\n
structures not covered by United’s master insurance policy as defined below:<\/p>\n
.<\/p>\n
United’s Master Insurance Policy \u2014 Property coverage for the building structure and the basic interior<\/p>\n
components such as basic cabinets, vinyl floors, and melamine countertops that have not been altered.<\/p>\n
HOG Insurance \u2014 Separate insurance policy that covers the improvements and alterations inside and<\/p>\n
outside the unit, member’s personal property, liability coverage, loss of use, and loss assessment<\/p>\n
coverage.<\/p>\n
HO4 Insurance \u2014 Also called renters insurance. This coverage protects a renter\u2019s personal property and<\/p>\n
personal liability.<\/p>\n
Acknowledgement by prospective shareholder<\/p>\n
[1]<\/p>\n
Prospective shareholder accepts the existing alteration(s)\/improvements(s) and agrees to be<\/p>\n
responsible for any and all costs related to its future maintenance. SEE **NOTE ABOVE<\/p>\n
Signature<\/p>\n
Print name<\/p>\n
Date<\/p>\n
Signature<\/p>\n
Print name<\/p>\n
Date<\/p>\n
Acknowledgement by seller<\/p>\n
Seller has been informed that the unit has nonstandard alterations. Seller will be responsible to restore the<\/p>\n
property to community standard if the prospective shareholder refuses to accept the nonstandard alteration.<\/p>\n
Signature<\/p>\n
Print name<\/p>\n
Date<\/p>\n
Signature<\/p>\n
Print name<\/p>\n
Date<\/p>\n
Escrow number<\/p>\n
Date<\/p>\n
Escrow officer signature<\/p>\n
United Resale Package<\/p>\n
Page 13 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL<\/p>\n
Recording requested by and when<\/p>\n
recorded mail to:<\/p>\n
United Laguna Woods Mutual<\/p>\n
PO Box 2220<\/p>\n
Laguna Woods, CA 92654 – 2220<\/p>\n
This space for recorder use only<\/p>\n
Memorandum of Termination of Occupancy Agreement<\/p>\n
This Memorandum of Termination of Occupancy Agreement is made as of<\/p>\n
by and between United Laguna Woods Mutual, a California nonprofit mutual benefit corporation (United),<\/p>\n
and<\/p>\n
(Member).<\/p>\n
The property with which this Memorandum of Termination of Occupancy Agreement is concerned is that certain real property located in<\/p>\n
the City of Laguna Woods, County of Orange, and State of California, commonly known as<\/p>\n
and unit , building as set forth in the exhibit to that certain Memorandum of Termination of Occupancy Agreement<\/p>\n
recorded in the official records of Orange County, California, on May 10, 2013 as Instrument No. 2013000284997, which is a<\/p>\n
cooperative apartment (the unit) in the community commonly known as Laguna Woods Village. See legal description.<\/p>\n
By an unrecorded document entitled Occupancy Agreement dated<\/p>\n
, 20<\/p>\n
, United leased the unit to member<\/p>\n
for an initial term of three years beginning on [] the date of recordation of the Memorandum of Termination of Occupancy Agreement<\/p>\n
recorded as Instrument No.<\/p>\n
X the date of the Occupancy Agreement, which term could be automatically<\/p>\n
renewed for successive terms of three years as provided in article 4 of the Occupancy Agreement.<\/p>\n
This Memorandum of Termination of Occupancy Agreement memorializes the agreement between United and member that the period<\/p>\n
of the Occupancy Agreement (and the member’s right to occupy the manor) was terminated by the Board of Directors or by mutual<\/p>\n
consent as of<\/p>\n
[J the date of recordation of this Memorandum of Termination of Occupancy Agreement.<\/p>\n
In witness whereof, United and member have executed this Memorandum of Termination of Occupancy Agreement.<\/p>\n
Shareholder(s)<\/p>\n
United Laguna Woods Mutual \u2014 Owner<\/p>\n
Signature<\/p>\n
Signature<\/p>\n
Name printed<\/p>\n
Name printed \u2014 authorized agent<\/p>\n
Signature<\/p>\n
Name printed<\/p>\n
United Resale Package<\/p>\n
Page 14 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014<\/p>\n
Acknowledgement<\/p>\n
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the<\/p>\n
document to which this certificate is attached, and not the truthfulness, accuracy or validity of that document.<\/p>\n
State of California<\/p>\n
)<\/p>\n
County of Orange<\/p>\n
)<\/p>\n
On<\/p>\n
, before me,<\/p>\n
, Notary Public, personally<\/p>\n
appeared<\/p>\n
, who proved to me on the basis of<\/p>\n
satisfactory evidence to be the person(s) whose name(s) is\/are subscribed to the within instrument and<\/p>\n
acknowledged to me that he\/she\/they executed the same in his\/her\/their authorized capacity(ies), and that by<\/p>\n
his\/her\/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s)<\/p>\n
acted, executed the instrument.<\/p>\n
| certify under penalty of perjury under the laws of the State of California that the foregoing paragraph is<\/p>\n
true and correct.<\/p>\n
Witness my hand and official seal.<\/p>\n
Signature<\/p>\n
(Seal)<\/p>\n
Acknowledgement<\/p>\n
A notary public or other officer completing this certificate verifies only the identity of the individual who signed the<\/p>\n
document to which this certificate is attached, and not the truthfulness, accuracy or validity of that document.<\/p>\n
State of California<\/p>\n
)<\/p>\n
County of Orange<\/p>\n
)<\/p>\n
On<\/p>\n
, before me,<\/p>\n
, Notary Public, personally<\/p>\n
appeared<\/p>\n
, who proved to me on the basis of<\/p>\n
satisfactory evidence to be the person(s) whose name(s) is\/are subscribed to the within instrument and<\/p>\n
acknowledged to me that he\/she\/they executed the same in his\/her\/their authorized capacity(ies), and that by<\/p>\n
his\/her\/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s)<\/p>\n
acted, executed the instrument.<\/p>\n
| certify under penalty of perjury under the laws of the State of California that the foregoing paragraph is<\/p>\n
true and correct.<\/p>\n
Witness my hand and official seal.<\/p>\n
Signature<\/p>\n
(Seal)<\/p>\n
United Resale Package<\/p>\n
Page 15 of 44<\/p>\n
Rev 1-1-2026
\nUnit number<\/p>\n
UNITED LAGUNA WOODS<\/p>\n
MU<\/p>\n
TUA<\/p>\n
.<\/p>\n
Shareholder\/Membership Application<\/p>\n
Please print using black ink or type<\/p>\n
List names exactly as they will appear on Membership Certificate and Occupancy Agreement.<\/p>\n
Appl<\/p>\n
For business use<\/p>\n
No<\/p>\n
Title<\/p>\n
Last name<\/p>\n
First name, middle<\/p>\n
only<\/p>\n
O mr.<\/p>\n
O ms.<\/p>\n
[J Miss<\/p>\n
J Mrs.<\/p>\n
O mr.<\/p>\n
O ms.<\/p>\n
2<\/p>\n
[J Miss<\/p>\n
J Mrs.<\/p>\n
Appl<\/p>\n
Applicant to<\/p>\n
Tax<\/p>\n
Age<\/p>\n
No.<\/p>\n
Date of birth<\/p>\n
Marital status<\/p>\n
reside in unit<\/p>\n
verification<\/p>\n
Social Security Number<\/p>\n
responsibility**<\/p>\n
attached<\/p>\n
0 Married<\/p>\n
0 Single<\/p>\n
OJ Yes [I No<\/p>\n
OJ Yes<\/p>\n
OJ Yes<\/p>\n
O Widowed [O Divorced<\/p>\n
Home phone<\/p>\n
Mobile phone<\/p>\n
Email<\/p>\n
* If No, provide outside address:<\/p>\n
Age<\/p>\n
Appl<\/p>\n
Date of birth<\/p>\n
Marital status<\/p>\n
Applicant to<\/p>\n
Tax<\/p>\n
verification<\/p>\n
Social Security Number<\/p>\n
No.<\/p>\n
reside in unit<\/p>\n
responsibility**<\/p>\n
attached<\/p>\n
0 Married<\/p>\n
0 Single<\/p>\n
O Widowed [O Divorced<\/p>\n
OJ Yes [I No<\/p>\n
OJ Yes<\/p>\n
OJ Yes<\/p>\n
Home phone<\/p>\n
Mobile phone<\/p>\n
Email<\/p>\n
* If No, provide outside address:<\/p>\n
** Enter a checkmark for the party responsible for income tax reporting. Only one party may be responsible \u2014 this is required by<\/p>\n
federal law.<\/p>\n
Emergency notification<\/p>\n
Name<\/p>\n
Relationship<\/p>\n
Mobile and home phone numbers<\/p>\n
Acknowledgements and affirmations<\/p>\n
As a buyer, | have received an inspection report prepared by the mutual for the manor which | am purchasing that identifies<\/p>\n
any alterations that have been made by previous owners; | agree that | will be responsible for the care and maintenance of<\/p>\n
any alterations made previously or that | may make in the future. As a transferee, | agree that | will be responsible for the<\/p>\n
care and maintenance of any alterations made previously, as well as any alterations that | may make in the future.<\/p>\n
As a member of the mutual, | agree that | will be responsible for the monthly homeowner’s assessment payments, and | will<\/p>\n
comply with all the governing rules of the mutual and Golden Rain Foundation. | have received the notice informing me of<\/p>\n
the possible existence of asbestos in certain buildings.<\/p>\n
*** Member is aware of and agrees to pay to the mutual an additional sum each month for each occupant of the unit<\/p>\n
in excess of two, at the rate prescribed by the mutual and GRF. A schedule of fees is available upon request and is<\/p>\n
subject to change annually. Additional fee is added to the member’s account. Initial:<\/p>\n
| swear, under penalty of perjury, that the information provided in this application is true and correct.<\/p>\n
1. Name (print)<\/p>\n
Signature<\/p>\n
Date<\/p>\n
Date<\/p>\n
2. Name (print)<\/p>\n
Signature<\/p>\n
United Resale Package<\/p>\n
Page 16 of 44<\/p>\n
Rev 1-1-2026
\nUnit Number<\/p>\n
UNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014<\/p>\n
United Mutual Membership and Occupancy Requirements<\/p>\n
All prospective members and occupants are required to meet age restrictions as defined by federal and state<\/p>\n
statutes and in accordance with United Occupancy Agreement and bylaws. Please attach copies of<\/p>\n
appropriate documents which verify applicant’s age\u2014these may include a passport, a driver’s license, or a<\/p>\n
birth certificate.<\/p>\n
Member<\/p>\n
A shareholder who has been approved for membership by the board and entered into the corporate records.<\/p>\n
When the membership is vested in a trust, the trustee is considered the member.<\/p>\n
In order to reside, the shareholders must be 55 years of age or older; any other co-occupants who reside must<\/p>\n
be at least 45 years of age and reside with the full-time qualified resident, except a spouse who may be any<\/p>\n
age. A disabled child\/grandchild may reside under certain conditions (Section 51.3 of the California Civil Code).<\/p>\n
Shareholders in good standing are entitled to one vote in mutual elections.<\/p>\n
Prospective shareholder members must sign Occupancy Agreements, including the general terms and<\/p>\n
conditions attachment.<\/p>\n
Co-occupants<\/p>\n
Nonmembers who reside with the approval of the United Mutual Board of Directors and reside with a full-time<\/p>\n
qualified resident.<\/p>\n
In order to reside, at least one occupant must be 55 years of age or older; all other persons who reside must be<\/p>\n
at least 45 years of age, unless the other occupant is:<\/p>\n
(1) A spouse or cohabitant; or<\/p>\n
(2) A primary provider of physical health care.<\/p>\n
Note: Care providers are not permitted to use the community facilities, except when it is directly related to<\/p>\n
providing necessary support to the member or an approved resident. A care provider ID card will be issued and<\/p>\n
must be worn at all times.<\/p>\n
Co-occupants may reside only upon the issuance and approval of an application for co-occupancy by United<\/p>\n
Mutual’s Board of Directors and which must be executed by all shareholder members.<\/p>\n
Occupancy limits<\/p>\n
The maximum number of persons who may occupy a unit is equal to the number of approved bedrooms, plus<\/p>\n
one.<\/p>\n
Unit assessments<\/p>\n
Monthly assessments provide for the occupancy of no more than two persons. An additional monthly fee, as<\/p>\n
established by the housing corporation and GRF will be charged for each additional occupant.<\/p>\n
Identification cards<\/p>\n
Resident identification cards are issued to all approved residents of the community. Cards are the property of<\/p>\n
GRF and must be returned at the termination of residency or before requesting the final demand to avoid<\/p>\n
additional charges for not returning ID cards. Replacements will be issued subject to the schedule of fees.<\/p>\n
Applicant Initial Here:<\/p>\n
Date:<\/p>\n
Date:<\/p>\n
Applicant Initial Here:<\/p>\n
United Resale Package<\/p>\n
Page 17 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014<\/p>\n
Golden Rain Foundation Trust Facilities Fee<\/p>\n
GoLpEN Rain FounDpATION<\/p>\n
a\u00bb of LAGUNA WoODS<\/p>\n
Revised 12\/2\/2025<\/p>\n
Unit number<\/p>\n
As trustee of the Golden Rain Foundation (GRF) of Laguna Hills Trust, the GRF Board of Directors is<\/p>\n
required to preserve and protect the recreational and other amenities available to all residents of Laguna<\/p>\n
Woods Village. Effective January 1, 2026, all purchases of a separate interest in Third Laguna Hills Mutual<\/p>\n
(condo), United Laguna Woods Mutual (cooperative) and Mutual Fifty (condo) must include collection of a<\/p>\n
trust facilities fee in the amount of $10,000 per transaction as an obligation of the purchaser when the sales<\/p>\n
price is $200,000 or higher, and $3,500 when the sales price is less than $200,000.<\/p>\n
Choose one option of payment below.<\/p>\n
I\/we agree to pay at the time of closing of escrow the trust facilities fee in<\/p>\n
Payment<\/p>\n
option 1:<\/p>\n
the amount of $10,000 when the sales price is equal to or higher than<\/p>\n
$200,000, and $3,500 when the sales price is less than $200,000.<\/p>\n
I\/we agree to pay over a period not to exceed seven years (84 months) the<\/p>\n
trust facilities fee in the amount of $10,000 plus additional fees that result in a<\/p>\n
Payment<\/p>\n
total principal amount of $10,252 plus interest at 12 percent per annum, or<\/p>\n
option 2:<\/p>\n
$3,500 resulting in a total principal amount of $3,752 if the sales price is less<\/p>\n
than $200,000.<\/p>\n
1 Name (Print) *<\/p>\n
Signature<\/p>\n
Date<\/p>\n
2 Name (Print)<\/p>\n
Signature<\/p>\n
Date<\/p>\n
3 Name (Print)<\/p>\n
Signature<\/p>\n
Date<\/p>\n
* If payment option 2 is selected, the first owner\/member name must reflect the person to whom the billing<\/p>\n
statement for the trust facilities fee will be mailed.<\/p>\n
United Resale Package<\/p>\n
Page 18 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014<\/p>\n
GoLDEN RAIN FOUNDATION<\/p>\n
Zz<\/p>\n
of LAGUNA WooDs<\/p>\n
Promissory Note<\/p>\n
Revised 12\/2\/2025<\/p>\n
Unit number:<\/p>\n
Principal amount: $10,252<\/p>\n
Principal amount with interest: $15,202.32<\/p>\n
Date:<\/p>\n
Recitals<\/p>\n
For value received, the undersigned payor(s),<\/p>\n
, promises to pay to<\/p>\n
the order of Golden Rain Foundation of Laguna Woods, a California nonprofit mutual benefit corporation<\/p>\n
(payee), at 24351 El Toro Road, Laguna Woods, CA 92637, Attention: Accounts Receivable (or through a<\/p>\n
direct debit or similar ACH debit, if available), at the times and on the terms specified in this promissory note,<\/p>\n
the sum of $10,252 (principal), together with interest thereon at the rate of 12 percent per annum (but in any<\/p>\n
event not to exceed the maximum rate permitted by law), as payment of $10,000 facilities fee, and one-time<\/p>\n
origination fee of $252, plus interest, all fully amortized over the seven-year term, as further set forth below.<\/p>\n
Payor(s) acknowledges that payor(s) has been given the opportunity to pay $10,000 facilities fee all at once at<\/p>\n
the time of transfer, and so to avoid paying the interest and the nonrefundable origination fee, but that payor(s)<\/p>\n
has instead elected to enter into the seven-year payment plan, as authorized by California law, and to pay in<\/p>\n
accordance with all terms and conditions in this note.<\/p>\n
1<\/p>\n
Promise to pay. The principal and interest shall be amortized over a period of seven years, and all due<\/p>\n
and payable in seven years, with 84 consecutive monthly payments of $180.98. The first monthly<\/p>\n
payment shall be made on<\/p>\n
, 20<\/p>\n
, and subsequent monthly payments shall be paid on<\/p>\n
or before the first day of each succeeding calendar month.<\/p>\n
Late charge. Payor(s) agrees that in the event that any payment due hereunder is in default for more<\/p>\n
than 10 days, it would be extremely difficult to fix the actual damages resulting to payee. Therefore,<\/p>\n
payor(s) agrees to pay to payee the sum of $10 upon each such default, as liquidated damages and not<\/p>\n
as a penalty, to compensate the payee for the expenses of administering the default.<\/p>\n
Prepayment. The payor(s) of this note may, at their option, repay the amount due in whole prior to<\/p>\n
maturity date without penalty. Repayment of principal in its entirety prior to maturity date shall eliminate<\/p>\n
future interest and will fulfill the debt obligation. Payments received in excess of monthly note<\/p>\n
installment shall be applied to future note installments and not an accelerated reduction of principal.<\/p>\n
Promissory Note continued on the next page<\/p>\n
United Resale Package<\/p>\n
Page 19 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WOODS<\/p>\n
MUTUAL\u2014\u2014<\/p>\n
Promissory Note Continued<\/p>\n
4. Acceleration. The holder of this note may, at its option, accelerate the maturity of all payments to<\/p>\n
become due hereunder upon the occurrence of any of the following events, in which event the unpaid<\/p>\n
balance of this note shall become immediately due and payable without demand, presentment or<\/p>\n
notice, all of which are hereby expressly waived, and the holder may pursue collection through small<\/p>\n
claims court or initiate any other appropriate legal proceeding to collect the outstanding amount owed<\/p>\n
under this note:<\/p>\n
(a) Failure to make any two consecutive payments when due, (b) insolvency of payor(s), or filing<\/p>\n
by or against payor(s) of a petition of bankruptcy, either voluntary or involuntary, (c) if payor(s)<\/p>\n
sells his or her unit, or if payor(s) dies, then the remaining outstanding balance of principal<\/p>\n
hereunder at that time shall be due and payable in one lump sum and upon such payment, this<\/p>\n
note shall be deemed paid in full.<\/p>\n
Release. In consideration of full payment by the payor(s), as set out in the terms of the promissory note<\/p>\n
hereof, the holder of this note will furnish the payor(s), at the request of the payor(s), a written release<\/p>\n
of promissory note acknowledging the fulfillment of their debt obligation.<\/p>\n
Attorney\u2019s fees; governing law. In the event of any controversy or dispute arising from non-payment<\/p>\n
this Note, the prevailing party shall be entitled to recover from the non-prevailing party or parties<\/p>\n
reasonable expenses including, without limitation, attorneys\u2019 fees and costs actually incurred. This note<\/p>\n
shall be governed by and construed in accordance with, and all disputes hereunder shall be governed<\/p>\n
by, the internal laws of the State of California. This Note shall be binding on the payor(s) successors<\/p>\n
and assigns.<\/p>\n
In witness whereof, payor(s) has executed this note as of the date first written above.<\/p>\n
1 Name (Print)<\/p>\n
Signature<\/p>\n
Date<\/p>\n
2 Name (Print)<\/p>\n
Signature<\/p>\n
Date<\/p>\n
Date<\/p>\n
3 Name (Print)<\/p>\n
Signature<\/p>\n
United Resale Package<\/p>\n
Page 20 of 44<\/p>\n
Rev 1-1-2026
\nUNITED LAGUNA WO<\/p>\n
MU<\/p>\n
TUA<\/p>\n
ops<\/p>\n
Financial Statement and Credit Information<\/p>\n
United Mutual’s Financial Qualifications Policy can be found here:<\/p>\n