The ArrowCreek Homeowners Association, Inc. and the Friends of ArrowCreek Limited Liability Company (“Parties”) have entered into a Letter of Intent that represents an expression of each parties’ interest to negotiate only and each party reserves the right of final approval or disapproval for any reason, of a Final Purchase Agreement and Lease. The Letter of Intent is not binding on either Party and is intended to merely establish general deal point agreements only as presented at the last ACHOA Special Board meeting.
The resulting contracts (Purchase Agreement and Lease) when executed by both parties shall contain the full agreement, The parties understand that execution of the Purchase Agreement and the Lease are both contingent upon amendment of the ACHOA Governing Documents, ACHOA member approval of the purchase, ACHOA member approval to encumber common area to finance such purchase and the Friends of ArrowCreek Limited Liability Company membership approval vote for the sale.
ArrowCreek Homeowners Association, Inc, Board of Directors
CLICK HERE TO VIEW/PRINT THE ACHOA-FOA LOI Signed 9-28-15.