Communication to neighborhood residents about Toll Brothers settlement
As you may be aware, over the past several years your HOA board has been in discussions with Toll Brothers regarding outstanding matters in the common areas of the neighborhood. These discussions have recently concluded with Toll Brothers making a settlement payment of $15,619 to the HOA. With the HOA having maintained the common areas for many years, we judged that the HOA does not need Toll Brothers to do anything more in the neighborhood and that the payment can be put to good use in making improvements. With help from a couple of residents having legal experience, the board has negotiated and signed a release agreement with Toll Brothers; the settlement payment was conditioned on this agreement.
Agreement summary
The release agreement limits our ability to discuss its exact terms, but as is customary with such agreements, Toll Brothers will not have further obligations regarding the common areas and the HOA will be obligated to defend and indemnify Toll Brothers from any future claims regarding the common areas. Toll Brothers may still perform work in the common areas hereafter, but that would be at their discretion and in coordination with the HOA.
Final thanks
We thank the people who participated in the transition committee, the residents who offered informal legal assistance, and the present and past board members who helped make this possible.
We are glad to conclude this matter to the satisfaction of all parties involved.
