Once you hear about the strong reputation and extensive experience of Mark Saunders, manager of the Ocean Ridge development companies, the resolved Mark Saunders lawsuit seemingly becomes irrelevant.
For decades, Mark Saunders and the land development companies that he manages, have designed and built several highly successfully, luxurious coastal communities that have helped boost the aesthetic value and economy of southeastern North Carolina.
Despite the resolved lawsuit, Mark Saunders remains committed to providing excellent real estate and management services to the home owners who choose his communities.
The Mark Saunders resolved lawsuit doesn’t overshadow all that The Coastal Companies have done for the coastal region of North Carolina. The two parties involved in the lawsuit were Mark Saunders and the property owner association for the community Ocean Ridge Plantation.
Ocean Ridge Plantation is an award-winning community managed by Mark Saunders developer. It sits conveniently near Sunset Beach—one of North Carolina’s finest beaches—and features championship-level golf, world-class amenities, and an unmatched coastal atmosphere.
Mark Saunders, manager of the Ocean Ridge® development companies, and the Ocean Ridge Master Association, the property owners’ association for the Ocean Ridge Community, announced that they have reached an amicable settlement to resolve the litigation between them pertaining to past assessments.
The issue began in 2010, when the governance of the association was turned over to board members elected by the property owners. The community’s protective covenants called for the developer to be exempt from assessments and its funding obligations ended at the time of turnover. Unfortunately, the exemption provision was apparently overlooked, and the developer paid assessments on exempt home sites for several years until the error was discovered. “We’re confident that the payment of assessments for exempt home sites was an innocent mistake – most likely a simple carryover from prior years. We are pleased that the lawsuit is resolved and extend our gratitude to the association’s board of directors for working with us to settle the issue amicably,” said Saunders. The lawsuit was filed in Superior Court of Brunswick County, NC, last year (16 CVS 2340).
While the terms of the settlement, including the total sum paid, are confidential, the association did refund a portion of the assessments, and contributions also were received from insurance companies who were representing the parties involved. The association’s current and future budgets account for the developer’s recognized dues-exempt status.
“We have always had a cordial and productive working relationship with the association members, who are an important reason that Ocean Ridge Plantation® has thrived,” Saunders said, “and, while the lawsuit was unfortunate, it is good to get the issue resolved. We look forward to continuing to work with the association’s board of directors.”
Ocean Ridge Plantation is a residential beach and golf club community in coastal North Carolina featuring exquisitely designed homes, four championship golf courses and world-class amenities. The moderate North Carolina coastal climate and abundance of coastal activities, including an oceanfront beach club, contribute to Ocean Ridge being a perennial award-winning community. Visit www.oceanridge.com for more information.