From TheHefferans at comcast.net  Tue Nov 23 05:50:05 2010
From: TheHefferans at comcast.net (TheHefferans at comcast.net)
Date: Tue, 23 Nov 2010 12:50:05 +0000 (UTC)
Subject: [Board] Mortgage Modification
In-Reply-To: <07CE5171AD0046FFB70D65A248AD2152@OwnerPC>
Message-ID: <622818799.1797868.1290516605696.JavaMail.root@sz0072a.westchester.pa.mail.comcast.net>



Hi Greg! 



Thank you for that breakdown on the mortgage.  I support the idea of whittling down the amount of money we would we need to borrow and consequentley, like the idea of using  the $17,000+/-  to reduce the loan.    I also support paying the closing costs out of funds that we already have if feasable.  I guess my thinking is similar to how we run our own personal life;  I try to minimize debt/ loans and as a result, intererst paid out. 



My two cents, 



Tim 
----- Original Message ----- 
From: "Greg Gebow" <junipersc at comcast.net> 
To: "PYC BOD" <board at portsmouthyc.org> 
Sent: Monday, November 22, 2010 12:46:16 PM 
Subject: [Board] Mortgage Modification 




Greetings, 

I spoke with Tim Dargan at Federal Savings Bank this morning. He clarified some of the question I raised regarding the loan offer. On page 1: loan increase is to be what the BOD decides is appropriate not necessarily what the offer shows. On page 2 : Prepayment penalty : This would apply only on an early payoff. For example a re-finance with another bank. Pay-downs of principle or the entire loan by the Club from our internal resources would not trigger the penalty. 

The original mortgage did not have title insurance because the Bank did not require it. Title insurance is now required by the Bank. 

Total cost of the transaction: 
     a. Flood Certificate:    $22.00 
     b. Attorney’s Fees       $648.75  (includes title & title insurance) 
     c. Documentation:      $500.00 

                       Total:       $1,170.75 


Since The Club already has paid a deposit to Custom Floats of $17,000 + I suggest we only borrow that amount necessary to satisfy the remainder of the contractual amount. This would be approx. $35,000 +or-.  John you can remind us of the exact dollar figures, thanks. Also we should decide whether to pay the closing cost out of current funds or add these to loan amount. (which, of course incurs more interest!!) 

Your comments, please, 

Regards, 

Greg 

_______________________________________________ 
Board mailing list 
Board at portsmouthyc.org 
http://portsmouthyc.org/mailman/listinfo/board_portsmouthyc.org 
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From dgingras at comcast.net  Tue Nov 23 06:46:19 2010
From: dgingras at comcast.net (Dan Gingras)
Date: Tue, 23 Nov 2010 08:46:19 -0500
Subject: [Board] Mortgage Modification
In-Reply-To: <07CE5171AD0046FFB70D65A248AD2152@OwnerPC>
References: <07CE5171AD0046FFB70D65A248AD2152@OwnerPC>
Message-ID: <001301cb8b14$cf3e6250$6dbb26f0$@comcast.net>

I think it’s reasonable to borrow only the amount necessary to pay off Custom float if using the 17K we’ve already put down will not affect our operations.   The fees, in my opinion, should be paid out of operating expenses to reduce interest. 

 

Needless to say, we should execute this instrument as late as possible to meet the conditions of payment with Custom Float thereby reducing our interest a bit.

 

Dan

 

From: board-bounces at portsmouthyc.org [mailto:board-bounces at portsmouthyc.org] On Behalf Of Greg Gebow
Sent: Monday, November 22, 2010 12:46 PM
To: PYC BOD
Subject: [Board] Mortgage Modification

 

Greetings,

 

I spoke with Tim Dargan at Federal Savings Bank this morning. He clarified some of the question I raised regarding the loan offer. On page 1: loan increase is to be what the BOD decides is appropriate not necessarily what the offer shows. On page 2 : Prepayment penalty : This would apply only on an early payoff. For example a re-finance with another bank. Pay-downs of principle or the entire loan by the Club from our internal resources would not trigger the penalty.

 

The original mortgage did not have title insurance because the Bank did not require it. Title insurance is now required by the Bank.

 

Total cost of the transaction:

     a. Flood Certificate:    $22.00

     b. Attorney’s Fees       $648.75  (includes title & title insurance)

     c. Documentation:      $500.00

 

                       Total:       $1,170.75

 

 

Since The Club already has paid a deposit to Custom Floats of $17,000 + I suggest we only borrow that amount necessary to satisfy the remainder of the contractual amount. This would be approx. $35,000 +or-.  John you can remind us of the exact dollar figures, thanks. Also we should decide whether to pay the closing cost out of current funds or add these to loan amount. (which, of course incurs more interest!!)

 

Your comments, please,

 

Regards,

 

Greg

 

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From dgingras at comcast.net  Tue Nov 23 06:49:50 2010
From: dgingras at comcast.net (Dan Gingras)
Date: Tue, 23 Nov 2010 08:49:50 -0500
Subject: [Board] John Kemen
Message-ID: <001e01cb8b15$4d362800$e7a27800$@comcast.net>

My e-mail to John is being rejected.

 

I have his email as   johnrk2010 at yahoo.com

 

Is this correct?


Dan

 

 

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From dgingras at comcast.net  Tue Nov 23 11:46:48 2010
From: dgingras at comcast.net (Dan Gingras)
Date: Tue, 23 Nov 2010 13:46:48 -0500
Subject: [Board] FW: Public Hearing Regarding Mooring Fees
In-Reply-To: <B85A47972D3C014FA5FF1B426EAB10F79672FD0C01@exchange.kittery.org>
References: <B85A47972D3C014FA5FF1B426EAB10F79672FD0C01@exchange.kittery.org>
Message-ID: <008b01cb8b3e$d5055200$7f0ff600$@comcast.net>

We may want to attend this (although obviously the notice is in error since
it says the hearing will be on August 5th 2010)

 

Dan

 

 

From: Bion Pike [mailto:kpa at kitteryme.org] 
Sent: Tuesday, November 23, 2010 12:36 PM
To: undisclosed-recipients:
Subject: Public Hearing Regarding Mooring Fees

 

 

 

 

 

Please contact me with any questions.

 

Best, Bion Pike

Kittery Harbormaster

 

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From dgingras at comcast.net  Tue Nov 23 12:03:08 2010
From: dgingras at comcast.net (Dan Gingras)
Date: Tue, 23 Nov 2010 14:03:08 -0500
Subject: [Board] FW: Updated Public Notice
In-Reply-To: <B85A47972D3C014FA5FF1B426EAB10F79672FD0C03@exchange.kittery.org>
References: <B85A47972D3C014FA5FF1B426EAB10F79672FD0C03@exchange.kittery.org>
Message-ID: <009d01cb8b41$20f91140$62eb33c0$@comcast.net>

Corrected version

 

From: Bion Pike [mailto:kpa at kitteryme.org] 
Sent: Tuesday, November 23, 2010 1:34 PM
To: undisclosed-recipients:
Subject: Updated Public Notice

 

Hi All,

 

Please note, the first e-mail reflects an August date. The meeting is next
Thursday 2 December  at 7PM. Proposed changes will be available on the
Kittery website after Wednesday.

 

Best, Bion

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From cyweller at comcast.net  Tue Nov 23 14:36:14 2010
From: cyweller at comcast.net (Christina Y Weller)
Date: Tue, 23 Nov 2010 16:36:14 -0500
Subject: [Board] Mortgage Modification
In-Reply-To: <07CE5171AD0046FFB70D65A248AD2152@OwnerPC>
References: <07CE5171AD0046FFB70D65A248AD2152@OwnerPC>
Message-ID: <079F852C-9454-4789-984F-02FF31002464@comcast.net>

Greg,

Thanks for checking into this.
I agree that it would be a good idea to minimum necessary to satisfy the remainder of the contract, as well as pay the fees out of operating expenses.

 
Christina Y Weller
4 Tamarind Lane
Exeter, NH 03833
cyweller at comcast.net
603-772-8455(h)
603-682-6536(m)



On Nov 22, 2010, at 12:46 PM, Greg Gebow wrote:

> Greetings,
>  
> I spoke with Tim Dargan at Federal Savings Bank this morning. He clarified some of the question I raised regarding the loan offer. On page 1: loan increase is to be what the BOD decides is appropriate not necessarily what the offer shows. On page 2 : Prepayment penalty : This would apply only on an early payoff. For example a re-finance with another bank. Pay-downs of principle or the entire loan by the Club from our internal resources would not trigger the penalty.
>  
> The original mortgage did not have title insurance because the Bank did not require it. Title insurance is now required by the Bank.
>  
> Total cost of the transaction:
>      a. Flood Certificate:    $22.00
>      b. Attorney’s Fees       $648.75  (includes title & title insurance)
>      c. Documentation:      $500.00
>  
>                        Total:       $1,170.75
>  
>  
> Since The Club already has paid a deposit to Custom Floats of $17,000 + I suggest we only borrow that amount necessary to satisfy the remainder of the contractual amount. This would be approx. $35,000 +or-.  John you can remind us of the exact dollar figures, thanks. Also we should decide whether to pay the closing cost out of current funds or add these to loan amount. (which, of course incurs more interest!!)
>  
> Your comments, please,
>  
> Regards,
>  
> Greg
>  
> _______________________________________________
> Board mailing list
> Board at portsmouthyc.org
> http://portsmouthyc.org/mailman/listinfo/board_portsmouthyc.org

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From cclementsr at comcast.net  Tue Nov 23 15:54:58 2010
From: cclementsr at comcast.net (Christopher D Clement)
Date: Tue, 23 Nov 2010 17:54:58 -0500
Subject: [Board] FW: Updated Public Notice
In-Reply-To: <009d01cb8b41$20f91140$62eb33c0$@comcast.net>
References: <B85A47972D3C014FA5FF1B426EAB10F79672FD0C03@exchange.kittery.org>
	<009d01cb8b41$20f91140$62eb33c0$@comcast.net>
Message-ID: <73B826F8-5C03-437B-AC41-614BA2B187C3@comcast.net>

I can depart Concord early to attend this meeting if needed to make  
sure we have coverage.

Chris

On Nov 23, 2010, at 2:03 PM, "Dan Gingras" <dgingras at comcast.net> wrote:

> Corrected version
>
>
>
> From: Bion Pike [mailto:kpa at kitteryme.org]
> Sent: Tuesday, November 23, 2010 1:34 PM
> To: undisclosed-recipients:
> Subject: Updated Public Notice
>
>
>
> Hi All,
>
>
>
> Please note, the first e-mail reflects an August date. The meeting  
> is next Thursday 2 December  at 7PM. Proposed changes will be  
> available on the Kittery website after Wednesday.
>
>
>
> Best, Bion
>
> <PUBLIC+HEARING+NOTICE+-+Revision+of+Section+X+Fees[1].rtf>
> _______________________________________________
> Board mailing list
> Board at portsmouthyc.org
> http://portsmouthyc.org/mailman/listinfo/board_portsmouthyc.org
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From dgingras at comcast.net  Tue Nov 23 16:18:35 2010
From: dgingras at comcast.net (Dan Gingras)
Date: Tue, 23 Nov 2010 18:18:35 -0500
Subject: [Board] FW: Updated Public Notice
In-Reply-To: <73B826F8-5C03-437B-AC41-614BA2B187C3@comcast.net>
References: <B85A47972D3C014FA5FF1B426EAB10F79672FD0C03@exchange.kittery.org>
	<009d01cb8b41$20f91140$62eb33c0$@comcast.net>
	<73B826F8-5C03-437B-AC41-614BA2B187C3@comcast.net>
Message-ID: <002101cb8b64$c5464ba0$4fd2e2e0$@comcast.net>

Standby.   Paul and I will probably attend.


Dan

 

 

From: Christopher D Clement [mailto:cclementsr at comcast.net] 
Sent: Tuesday, November 23, 2010 5:55 PM
To: Dan Gingras
Cc: <board at portsmouthyc.org>
Subject: Re: [Board] FW: Updated Public Notice

 

I can depart Concord early to attend this meeting if needed to make sure we have coverage.

 

Chris


On Nov 23, 2010, at 2:03 PM, "Dan Gingras" <dgingras at comcast.net> wrote:

Corrected version

 

From: Bion Pike [mailto:kpa at kitteryme.org] 
Sent: Tuesday, November 23, 2010 1:34 PM
To: undisclosed-recipients:
Subject: Updated Public Notice

 

Hi All,

 

Please note, the first e-mail reflects an August date. The meeting is next Thursday 2 December  at 7PM. Proposed changes will be available on the Kittery website after Wednesday.

 

Best, Bion

<PUBLIC+HEARING+NOTICE+-+Revision+of+Section+X+Fees[1].rtf>

_______________________________________________
Board mailing list
Board at portsmouthyc.org
http://portsmouthyc.org/mailman/listinfo/board_portsmouthyc.org

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