Confirmation of Emergency Measures

Dear Owners

With reference to our last recent communication, on behalf of the OH5 Committee we are writing to inform you that we took"Emergency Action" to hand-over the management of the Oroklini Hills 5 Complex to Absolute on the same basis and price structure at the Palm View Agreement until the 31st of January 2012.

This emergency measure allows us to take effective action and ensure that there will be no noticeable interruption to services. Subsequently Absolute will handle the following already this week...

• Analysis and resolution of sewage issue and cesspit problem as of tomorrow.
• The Pool will be cleaned most likely tomorrow.
• One Cleaning will be conducted this week only (preferably before Thursday)
• The garden will be taken care of on Thursday of this week.

Please find on the left side bar the following information regarding Absolute:

• Company Overview
• Absolute Schedules
• Additional Important Information
• 2 references of satisfied Committee's 

Note that Absolute have also taken over Traditional in Oroklini, as another Management Company left with short notice, which is a trend in Cyprus during these difficult times.

Concerning the original 3 quotes concept, as we only only received 4 days notice from Palm View Management it was the role of the Committee to take immediate action to prevent the Building deteriorating, which could happen quickly. Absolute was clearly the best quote we received. Note that one bidder (originally showing promise) failed to meet the deadline, another pulled out due to fear of non payers and a third made a bid without visiting the property as they were travelling. This left Absolute with the only truly credible response. Moreover, to play safe, we made the agreement based on the already agreed price structure and conditions to ensure no inconvenience for all owners.

2012 AGREEMENT

For the 2012 Agreement the concept of our relationship is for Absolute to seek tangible work and cost efficiencies (never compromising the overall quality) to propose a reduced price quote for 2012. We envisage the best date to deliver this quote is in December 2011 to give all Owners the right to reply by February 2012 (time of execution). 

PAYMENTS AND IMMEDIATE ISSUES

In view of the fact there is a deficit due to a number of Owners not paying, in order to demonstrate confidence and Leadership all Committee Members will pay up their accounts right up until February 2012 with immediate effect. This will overcome the initial short-fall and empower Absolute to deal with urgent pending matters such as...

• Dealing with the Sewage issue (cesspit) 
• Pending Electricity Bill
• Insurance Payment
• Paying any other Emergency Utility or unforeseen issue.

At this juncture, we urge all Owners to bring their accounts up to date with immediate effect as soon as you receive the payment details from Absolute. 

NEXT STEPS

1. We will send a follow up email to all Owners formally introducing Absolute, which will empower them to start collecting funds and generally communicating wit Owners. 
2. We will also send a message to Palm View Management to inform them officially that Absolute will be taking over and to ask them to facilitate you in order to ensure a smooth transition.

In closing, we feel that under the circumstances we have taken the best action possible and we ask for your continued support to ensure that we vision the best for our marvelous Complex.

Best regards

OH5 Committee 

Grant, Brian, Costas.

Above message sent by email on the same date