Something I would submit to the court if I was my own lawyer. It will probably be revised with more links added.
- All of my 49 lots are worth $843,200; with liens they are worth less than $0, a liability.
- Liens on lots are over 6-years old hence, they are invalid due to statutes of limitations. (Contracts expire in six years, A.R.S 12-548 and, liens for assessments expire in three years, A.R.S. 33-1807.)
- Contract says payment not due until lots are finished, lots have not been finished before statutes of limitations, any contract lasting this long is unconscionable (interest on loan and decrease in value creates negative equity). (Unconscionable contracts are invalid.)
- Prior majority lot owners agreed to help us sell our lots to builders. Turned out I could not sell lots to builders because they would only buy 10 or more lots at a time and small builders wanted me to subordinate the value of the lot to them so they could get a loan against the lot . . . not a good idea. Current majority lot owners have helped prior majority lot owners sell lots they obtained through threats & intimidation of foreclosing the Special Assessment Assignment liens; Russo will not help me and another Unit 2 lot owner sell our lots.
- Prior majority lot owners are being sued for securities fraud. The liens can be used as securities, buyers of these liens/securities were suckers. Russo made a big mistake buying the assessments from the suckers. (See also #8, below)
- Prior majority lot owners did not sell as many lots per year as they anticipated (or as many as neighboring developments) and went bankrupt causing National Bank of Arizona to lose $35-million, the biggest loss in the bank’s history.
- It is illegal in California for an HOA to sell assessments to a 3rd party.
- I sent one of the assessment lien holders (Mr. Sullivan) a letter demanding a quitclaim deed pursuant to a quiet title action in court, a few weeks later Russo allegedly bought the lien (not sure he actually paid anything) and then sued me.
- In the 1960’s and 70’s people bought lots in the subdivision as an investment, sight unseen expecting there to be roads, the Federal Trade Commission held hearings on land fraud in this subdivision and others sold by Horizon Land Company.
- Principle of buying vacant land is anticipating where development (roads, utilities) will be and then buy there. Someone brought electricity and water to one of my lots in Unit 4 (around the golf course, adjacent to Sycamore Vista) and never contacted me. Russo is saying I was “unjustly enriched” by the development.
- The people who bought the assessments on our lots made a bad investment. Those people were friends of the prior majority lot owners who are being sued for securities fraud.
- The HOA is charging dues on vacant lots that the current majority lot owners admit (see HOA meeting summaries) will not be built on for many, many years. (See also what the HOA dues are being spent on . . . maybe kickbacks, like attorney fees going to Russo for suing me?)
- There were about 40 lots excluded from the Unit 5 HOA, these lots had houses built on them in the 1960’s-70′, they did not want to be in the HOA, neither did Unit 6 or Unit 4 want to be in an HOA and they are doing fine without it.