Mr. Mike Umann
2019 Board President
Lake Lindero Homeowners Association
December 5, 2019
Mr. Umann,
Many homeowners are becoming increasingly concerned about this so-called “loan” for an approximate amount of $50,000 that was made to the Lake Lindero HOA from Christopher Barone. This is raising serious questions as to the legality of the transaction and the liability it places on the Lake Lindero homeowners.
According to our CC&R’s the Board may not authorize or accept a loan of any amount over one thousand dollars without a vote of a majority of the membership. Chris Barone stated on his latest public YouTube video that he considers the money he gave to the club a loan. You have not explained the reason for the loan to the membership, either publicly or in writing. In general membership meetings this year you and Treasurer Bromley have stated that we were on solid financial footing. I believe you have intentionally mislead the membership.
Mr. Bromley has breached his duty as Treasurer by not properly accounting for this loan. We also don’t know the specific use of the loan funds. According to our Articles of Incorporation, “the Treasurer shall receive and deposit… all moneys of the Association and shall disperse or cause to be disbursed such funds as directed by the Board of Directors; … and shall keep proper books of account”. Mr. Bromley has not been diligent in keeping records. Therefore, I consider the entire transaction illegal and fraudulent by you and Paul Bromley. It is also a conflict of interest since Chris Barone is your employee and the head of the Legal Committee.
So where does that put us, the membership, in terms of having to be responsible for paying back a loan that we did not authorize. Certainly the membership cannot be responsible. The HOA Board has a duty to protect our interests and this duty prohibits the Board from making decisions or acting on matters without the authority to do so. You clearly have acted without authorization. This is gross negligence and willful misconduct on your part and anyone else involved in this transaction.
I want to make it clear that as an HOA member I am against using any of our HOA finances to repay the balance of this loan. To do so would be a continued serious breach of fiduciary duty owed to us by the Board and/or Lordon Management. Any future payment on this loan, whether in cash or other forms, will be viewed as fraudulent and I will seek legal action personally against you or any Board member that authorizes such payment.
I trust our Board to do the right thing.
Sincerely,
A concerned LLHOA member
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Samantha, las cosas buenas son buenas. Sin embargo, hay reglas para empresas y corporaciones como esta. Esto no es como un asunto personal o familiar, donde alguien te da dinero como un gesto amable ... Es complicado. Estoy seguro de que entiendes lo que digo. Las empresas tienen reglas y las personas involucradas, como Chris, saben que hay reglas.
Saludos
Yesto recall, i support persons who are kind maybe you too. I don't know what board did because nothing here i see is something other than words that are no nice. why no nice? my sister writes better but mi corazon is only with kind persons. thank you Cris for giving money i no understand why persons worry about kind things.
So sorry for misunderstanding I am no doctor or nurse I just feel as normal person that it's unusual for a person to be emotional about money recieved for good things like HOA machines or items, I no understand porque mi esposo work hard for dream someone o anyone gives us money with no interest. I maybe so wrongly say that make you feel I am no doctor just maybe wrong words. Please I just know when we need money somone gives us we are not upset we are happy that's all. Cris maybe a nice person is all maybe not so nice but why is a problem if gives money maybe the other way problems no?
Thank you for your concern, Samantha. They are quite well but it is very kind of you to be worried about him/her.
I am worry more about the person writing this. something isn't right.