Storm Insurance Letter

April 17, 2012

Dear Homeowner:

As all of you are aware the storm of March 29 caused much damage to the property at Meadowood Townhomes. In order to help protect everyone’s property we quickly boarded up all the broken skylights and removed any fallen trees and branches from the townhomes. We contacted the Association’s insurance company and filed a claim for property damages. Additionally we cleaned up all of the fallen vegetation from the property. During the last week we surveyed the damages to the properties with the insurance adjuster. During that period of time we reviewed not only the exteriors but also the interiors of units that claim to have been damaged. If for any reason you have not notified me of your interior damages please do so immediately.


After conferring with the Board of Directors everyone is in agreement that work needs to progress rapidly to protect the property from further damage. We do not know for sure how long it will take before an insurance settlement is reached and funds are available for repairs. I would anticipate that a 30 day time period would not be unreasonable. We well disperse funds as soon as practical when we receive them.


It is the consensus of the Board of Directors that Meadowood Townhomes will not perform the repair work on the individual townhomes. They feel that it would not be appropriate nor in the best interest of the Homeowners Association to do so, as the liability would be too great for work performed on your individual property. As has always been the case, it is your responsibility to repair and maintain your property, and that has not changed.


The Board of Directors has been told that damages to the exteriors of the units are covered under the Association policy. They have also been informed that some of the interior damage may be covered. This will probably be limited to sheet rock damage, but may not be covered at all. We do not know for sure at this time. The insurance adjuster has informed us that for sure any personal property is not covered. The Board of Directors has no additional information concerning the insurance claim at this time.


During the survey of the damages the insurance adjuster noted all visible problems on each property individually. It is anticipated when the insurance proceeds are received that the proceeds check will be in a lump sum for all of the damages less the $5000.00 deductible and recoverable depreciation. Recoverable depreciation is an amount the insurance company will hold back to ensure that the work is actually performed. When the work has been completed they will then refund the recoverable depreciation based upon the actual value of the repairs, up to the maximum previously established. Each homeowner that suffered damage will receive compensation based upon the survey of damages for his individual unit less his proportionate share of the deductible and recoverable depreciation. It is anticipated that as each homeowner completes repairs to his unit he will provide the property manager with documentation of the repairs done and at the end of the repair process that documentation will be reported to the insurance company for payment of the recoverable depreciation. We have been told that they will not make piecemeal unit by unit compensation for the recoverable depreciation.


After a reasonable period of time for an owner to make repairs to the exterior of his townhome, a survey will be made of the townhomes to ensure they are in good repair. Please be advised however that those homeowners that elect not to repair the exteriors of their units will be subject to enforcement by the Homeowners Association. Additionally please be aware that there has been a long standing color palate for the exterior of the units. Any painting done must conform to the color palate. It can be found on the Association website


As a side note, please be aware that there are many contractors in from out of town. Some may be legitimate some not. They may have schemes to maximize your insurance proceeds or to take care of your deductibles. Please be very wary and careful as you hire the work to be done. Usually local, reputable, bonded and insured contractors are your best bet. Remember that if a contractors employee falls off your roof or is injured and the contractor is not insured that you can be sued for damages by the employee. Additionally, several of the townhomes share common areas with an adjoining homeowner’s property. It would be advised to coordinate your work with your neighbor to insure that damage is not done to adjoining property. Please be aware that you are also responsible for any damages to the common property caused by your contractor as well as for cleanup services provided by the association of construction debris left on common areas.


Although the storm has caused much damage to the property perhaps this is an excellent opportunity for everyone to fix up and repaint their exteriors so that Meadowood Townhomes is an attractive place to live.


If you have any questions concerning these matters please contact the property manager Ted Miller at 956-383-3712.



Meadowood Townhomes Homeowners Association, Inc.

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