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IMPORTANT INFORMATION REGARDING LSM Lake and Lodge Agreements

Lake San Marcos was one of the very first Master Planned Lakeside Communities in the County of San Diego. Whereas most Homeowner Associations today own the Recreation Facilities of a community, the developer of Lake San Marcos retained ownership of the Lake and Recreation Lodge. Residents were allowed use of these facilities through a 20 year Lake and Lodge Agreement. Today LSM consists of 22 Homeowner Associations plus over 650 single family homes without HOA representation. As these early developments in LSM were built and sold, Agreements were drafted between the HOA’s and Citizens Development Corporation (CDC) to regulate the use of the Lake and Recreational Facilities. The Agreements were written for 20 year terms with two 5 year options to extend. Most of these Agreements were originally written in the 1960’s and 70’s. They all have different start dates.

When a home sells in one of the communities WITH a Homeowner’s Association, the new buyer assumes the terms and conditions of the existing HOA Lake and Lodge Agreement. The Homeowners Association (not the owner) has signed the lease. When these Agreements expire, the Homeowners Association will negotiate a new Agreement. Many of these Agreements are now or will soon be expiring. Several of the Homeowners Association’s have decided to NOT renew their Lake and Lodge Agreements. The terms and conditions being offered in the new agreements are unacceptable to the HOA’s involved.

The homes built in areas WITHOUT a Homeowner’s Association were given INDIVIDUAL Lake and Lodge Agreements. The majority of these individual homes are located around the Lake San Marcos Country Club Golf Course. Additionally, some of the very earliest homes built (1800 and 1900 blocks of San Pablo Dr) have NO Agreement but rather have CC&R’s which provide for use of the Lake and Recreational facilities.

INDIVIDUAL LEASES with CDC for use of the Lake and Lodge are different than the HOA Lake and Lodge Agreements. When a homeowner with an individual lease sells their home, the buyer is being offered a new 20 year Lake and Lodge Agreement by CDC. This new lease may have much different terms and conditions than the existing seller lease. Owners need to take a close look at their existing Lake and Lodge Agreements to determine the expiration date! If there is time remaining on the existing Agreement, it should be made available to the buyer for review so that they can make an informed decision on whether to sign a new lease or assume the existing one. In some cases the individual Agreements have already expired and may not be assignable. It is EXTREMELY IMPORTANT to read your Individual Lake and Lodge Agreement and become familiar with it’s terms and conditions. You should have received a copy with your escrow papers when you purchased your home.

Please support your Lake San Marcos Community Association. If you have not already sent in your $36 dues for 2008, please do so. Membership is open to all residents (including renters) of Lake San Marcos. If you did not receive a notice in the mail, please call our office at 760-744-4306. If you have already sent your dues, THANK YOU VERY MUCH! Your support is vital for the continued work needed to keep Lake San Marcos the special place that it is.