Sherwood Valley Homeowners Association
Guidelines for Community Slips
As outlined in the June 1995 issue of the Lake Sherwood Wave and as approved by members of the Sherwood Valley Homeowners Association, the following guidelines have been established for applications to lease a community slip.
Changes Approved By SVHOA Members on February 8, 1996
Ø The community slip wait list is based upon the date of the homeowner’s request to be added to the wait list. Homeowners who are wait listed for a community slip and who are current with their applicable lake fees/assessments will be contacted upon the availability of a slip.
Ø Homeowners who are on the community slip wait list, but delinquent in payment of applicable lake fees/assessments from 1994 forward, will be removed from the list.
Ø Letter notification will be mailed to delinquent wait listed homeowners requesting payment of all outstanding fees/assessments.
Ø Upon payment in full of outstanding fees/assessments and current annual slip fee, homeowner’s name will be returned to wait list according to the date of full payment.
License Agreement Application
Ø Community slips are non-transferable, as stated in Section 9 of the License Agreement (Community Dock). Licensee (homeowner) is granted a temporary and revocable term for one year. In the event the proposed Licensee (a) fails to house a boat (owned by the Licensee) in the Community Dock and Slip within sixty (60) days of the date of the License Agreement, (b) fails to maintain a boat in the Community Dock and Slip for thirty (30) days during the term of the License Agreement, or (c) fails to provide evidence of Licensee’s ownership of this agreement, the License Agreement is subject to termination by SVHOA, in its sole and absolute discretion.
Ø Homeowners must be on the wait list to qualify for a community slip. The wait list is based upon the date of the homeowner’s request for an available slip. A Licensee must house a boat must be purchased within sixty (60) days of the date of the License Agreement
Ø A letter will be forwarded to wait listed homeowners regarding slip availability, which includes a definitive two week timeframe to accept or decline the available slip. If a response is not received within the stated timeframe or an available slip is declined, the homeowner’s name will be removed from the wait list. The available slip will then be offered to the next qualified, wait listed homeowner.
Ø The non-refundable, license fee for slip rental is currently $520.00 per annum.
Ø To complete the License Agreement application process, the homeowner must return an executed License Agreement; the annual license fee; Insurance Endorsement indicating Personal Liability coverage in the amount of $1,000,000.00; and a completed Lake Use Questionnaire.
Ø To arrange gate access for a new boat delivery, the homeowner’s Lake Use Questionnaire must be on file with appropriate information for boat registration, including the Insurance Endorsement,, naming Sherwood Valley Homeowners Association and Sherwood Development Company as Additional Insureds. Personal Liability Insurance in the amount of $1,000,000.00 is required to lease a community slip.
License Agreement Extension
Ø Payment of current lake fees/assessments.
Ø Payment of the annual, non-refundable license fee.
Ø Execution of License Agreement (Community Dock).
Ø Confirmation that Lake Use Questionnaire and boat registration information is current. Confirmation of renewal of Insurance indicating $1,000,000.000 of Personal Liability Insurance for boat registration. Sherwood Valley Homeowners Association and Sherwood Development Company must be named as Additional Insureds.
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CS/Word/lake management/community docks/guidelines.doc Revised 4/9/02