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Lenox Park

Board Bits - June
Posted on Jun 12th, 2016

As for the Brighthouse Networks agreement regarding payment to the community for rights to install their system in our community, the agreement is merely a carryover of an agreement that BHN had with MJC. The right to install their equipment is not exclusive but it does allow them the right to solicit in our community. The HOA has already received a payment of $28,200 for signing the agreement and approximately $2000 for the first quarter systems installed. $25,000 of this money was deposited directly into the Reserve Fund and the balance went into the Operating Fund to pay for monthly expenses. This has been a tremendous boost to our finances. The credit for securing this agreement goes to the Board members in general but our President, Gayle Hinman, was the prime mover behind the entire effort. She made all of the contacts and executed the agreement. It is a 15 year agreement and we can expect to receive several thousand dollars per year for the life of the agreement.