NOTICE FROM THE BOARD REGARDING LAWSUIT SETTLEMENT

The Association has reached a settlement in the lawsuit with all parties, except for two. The settlement agreement includes a strict confidentiality clause and nondisparagement clause. Unit Owners may request a copy of the settlement agreement by sending a request in writing to the management office – but unit owners will be required to sign and return a confidentiality agreement before the settlement agreement can be released to them.

Therefore, the Association no longer needs to fund the ongoing legal and professional out of pocket lawsuit related expenses from the operating budget. The Board has decided to pay whatever is left of the litigation expenses with the funds received from this settlement.

References
CityPlace South Tower Association’s Property Management Team. Retrieved 2020-12-14.