Page 2 - Attachments 8-4-16 (106pp)

From: Mitre House Management Ltd studio@graffiti.biz Subject: Mitre House Demands Query (Flat 9)
Date: 9 September 2014 02:40
To: Fortunati Diego & Susanna diego.fortunati@baml.com
Bcc: Karupiah Segar segar_9@hotmail.com
In response to your queries.
We have (as on Section 20) £98, 262.75 in Reserves which, as made clear on the Section 20, INCLUDES the normal usual £300 x 9 contribution to Reserves for the current September Quarter.
We need to contractually pay the budgeted and approved £105,019 or balances due, including any unforeseen works (and there are usually some) by 31 November 2014
We are therefore short of £6756.25
If we only collected an additional £1000 x 9 in the September Quarter, it would only leave £2243.75 in Reserves to cover any additional works contingencies or miscellaneous emergency repair costs etc until mid/late January 2015 or even early/mid February 2015 - not sufficient.
By requesting the full £2000 x 9 in the September Quarter, Reserves will be adequately funded by £11,243.75 until the next demands in late December 2014 (25 December 2014, payable by mid January 2015 or later if any late payers). And most importantly, there will be no requirement for Management to raise the 2015 Quarterly Demands by a significant amount, but a reasonable, sensible and affordable (by all) amount.
I hope that makes clear the financial situation and do please recall, Management had sourced a quote from Benitor for £98,948 requiring no additional funding but some Lessees, including you I recall, rejected Benitor's quote in favour of their preferred A.R.Lawrence £105,000, so necessitating additional funding of £2000 per lessee, all exactly as pointed out by Management in all the published final Section 20 Notices.
Paul Brown-Constable / +44 207 589 7502 Mbl: +44 798 33 33 543 on behalf of the Directors of
MITRE HOUSE MANAGEMENT LIMITED
7 Mitre House / 124 Kings Road / Chelsea / London SW3 4TP www.mitrehouse.org / email: management@mitrehouse,org
This message, and any and all attachments, are for the intended recipient(s) only, and may contain information that is privileged, confidential and/or proprietary and is subject to important terms and conditions available at www.suegrabbit&run.com/cocktail_lounge. If you are not the intended recipient, you are strongly advised in law to delete this message before it explodes - you have been warned!.