Board of Directors

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Original Message:

Re: Board of Directors (by David L.):

ATTN: All Poipu Deeded & Points owners

COPP is presenting some thoughts about the situation we all find ourselves in...

There is strong evidence of water damage at our resort. That is an unfortunate fact. DIAMOND RESORTS INTERNATIONAL has stated definitively and repeatedly that anyone currently affiliated with our resort is responsible for their share of the "Water Intrusion Assessment," or approximately $5,800 per interval owned.

DIAMOND RESORTS INTERNATIONAL has stated that failure to pay your assessment will result in foreclosure on your interval. HOWEVER, they have also indicated that they will pursue, through means including collections, your portion of the water intrusion assessment even after foreclosure. In other words, as it stands right now, only by paying your assessment can you avoid collections action.

Fast Answers: There have been internet postings where an owner at Poipu has been told by a company that if they paid them, they would take their interval and file a class action lawsuit to relieve them of their responsibility for the assessment. Our advice is to remain sceptical. They will have your deed and you are still responsible for the assessment. Remember, IF IT IS NOT IN WRITING, YOU HAVE NOTHING! Even then, it might only be worth the paper it is written on. Another owner posted that he was told by DIAMOND RESORTS INTERNATIONAL that if they were to walk away he would not be held responsible for his maintenance fees. Remember, your "MAINTENANCE FEE" is different from your "WATER INTRUSION ASSESSMENT." If you walk away now, you will lose your deed and yet you are still responsible for the water intrusion assessment. Pay attention to the details! We have seen emails forwarded to COPP by other owners, that if you pay $8,960.00 you can purchase points and GIVE THEM YOUR DEED! The down payment is $2,900.00 (more than your first installment on the assessment!) and a monthly payment of $227). Now you no longer OWN A DEEDED PROPERTY. BUT, you are now liable for almost half again as much as the assessment AND, they have your deed!

Suggestions: Monitor the internet for information regularly. Check out RedWeek.com and you will see that there are points owners being assessed just like the deeded owners. Make certain that you understand that there is no guarantee that you will not be hit with an assessment in the future AND you will also see lots of points owners being rocked by enormous increases in their annual fees. www.poipuowners.org is your website – make sure your register! This will put you on our mailing list and give you the most recent information on what is happening. Follow discussions regularly at the following: https://www.facebook.com/pointatpoipu https://blog.poipuowners.org