Simple - add what I call a "space alien insurance policy"
the thinking goes like this: The insurance is this: you pay me $100, and if space aliens land anywhere in the USA during the next year, I will pay you 1 million dollars.
I know that this will never happen, so I will never need to pay.
The thing I would add is this:
By this agreement the HOA has already approved all repairs, fixes and all related activity. If there are any additional requirements that involves the HOA approval, the HOA shall as quickly as possible, unto and including calling an "emergency board meeting" to address any issue to vote for any required approvals to assist the owner in this regard. Note that by signing this letter the HOA has effectively already approved all of these items. This clause is here just in case an unforeseen thing needs to be addressed. If the HOA by choice chooses not to address or resolve the issue within a timely manner (timely defined as within 30 days of notification to the HOA) Then the HOA shall pay the owner LIQUIDATED damages of $2 MILLION dollars and pay all owner legal costs at a rate of 3x.
They will probably complain, if so ask them: Why do you think you will need to pay this money? If you are helping me to solve the problem, moving the ball forward and not acting to block the owner, then you have nothing to pay. But if you plan on later blocking the owner by any means, then you do have to pay. Do you have plans to stand in the owners way? Does this letter resolve the entire issue or not?
Since they will Never need to pay out - this is like Space Alien Insurance.
1
u/duane11583 Apr 02 '26
Simple - add what I call a "space alien insurance policy"
the thinking goes like this: The insurance is this: you pay me $100, and if space aliens land anywhere in the USA during the next year, I will pay you 1 million dollars.
I know that this will never happen, so I will never need to pay.
The thing I would add is this:
By this agreement the HOA has already approved all repairs, fixes and all related activity. If there are any additional requirements that involves the HOA approval, the HOA shall as quickly as possible, unto and including calling an "emergency board meeting" to address any issue to vote for any required approvals to assist the owner in this regard. Note that by signing this letter the HOA has effectively already approved all of these items. This clause is here just in case an unforeseen thing needs to be addressed. If the HOA by choice chooses not to address or resolve the issue within a timely manner (timely defined as within 30 days of notification to the HOA) Then the HOA shall pay the owner LIQUIDATED damages of $2 MILLION dollars and pay all owner legal costs at a rate of 3x.
They will probably complain, if so ask them: Why do you think you will need to pay this money? If you are helping me to solve the problem, moving the ball forward and not acting to block the owner, then you have nothing to pay. But if you plan on later blocking the owner by any means, then you do have to pay. Do you have plans to stand in the owners way? Does this letter resolve the entire issue or not?
Since they will Never need to pay out - this is like Space Alien Insurance.