Page 99 - Attachments 8-4-16 (106pp)

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7) As briefly explained in my last email, if we were to go with the Quotes as presented by Michele (and surprisingly agreed by Flats 3, 5, 8 and 9 to date) it would be necessary to request a Quarterly Reserves of a minimum £1500 per flat for at least eighteen months, that being, not as I said four Quarters, but in fact six Quarters, totalling £9000 each to adequately cover both the Internals and Externals next year. Fortunately, Paul and I set a budget of £35,000 for these Internals, which would not require any increase in Reserves Demands and within that £35,000 we are able to do all and exactly the same as that in Michele's Quote.
And finally, when you have a moment could you send your recent Service Charge/Reserves/Ground Rent as I think we're going to need every penny we can lay our hands on.
I apologise for this very lengthy reply but felt it a good idea to explain things in a fashion you can hopefully understand and leave no misunderstandings whatsoever, on any subject, issue or recent query to date. I will, though, be very happy to answer anything that I have not made crystal clear, or if I cannot, I will request Paul to do so.
Regards Segar