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Re: Manhattan Club Lawsuit (by Gail J.):

I understand your reasoning but if owners don't pay their annual dues, how do you think the real estate taxes, insurance, housekeeping, utilities, repairs, etc. get paid? The developer wasn't paying the shortfall. Our reserves had to be used and to pay the shortfall after the reserves were depleted, dues had to be increased. And my understanding was that the association ( us owners) did not receive the money for the rentals that were secured - that money supposedly went to the developer. I had been led to believe that It did not go into the Association's account. Plus, the developer was charging a management fee of $6,000,000 a year and did nothing and had no employees- his fees certainly came out of the dues we paid. So, if I'm incorrect on all of this, can someone advise. Chris, you have a good understanding of the flimflam - what are your thoughts?