10
Monday, February 14, 1977
University Daily Kansan
Lake ...
From page one
defendants from selling any more lot was
involved. The judge will be issued
pardon of court. Pool said.
W. L. Biles, sole stockholder and president of DMI, and former president of DCI, said the injunction was unnecessary because DMI already couldn't sell lots because it hadn't completed its registration with the Kansas Securities System.
re also said that in 1974 his engineer had asked the Jefferson County Commissioners to inspect the projects but that they hadn't done anything. He said he was a lawyer for DCI, a board member of DMI. He said DMI would try to negotiate with the state and county but wouldn't comment on how he wanted to settle it because he didn't know what the state and county wanted to do.
Negotiations began last Friday during a closed meeting among Natziger, Pool and representatives from the firm. Estate Estates home owners, Mercantile Mortgage Company (a company that has loaned DMI and DCI money and holds mortgages on Lake Shore Estates) and estate estates from the U.S. Department of Housing and Urban Development (HUD).
POOL SAID yesterday that as a result of the meeting, "it seemed pretty favorable that we could work things out between the parties."
Last week Pool said he wanted to work out an agreement so that Mercantile Mortgage Company would finance the development. If Mercantile Agent's problem will be resolved, of court, he said.
"If we can't work this out with Mercantile, then there will be ill law suits,"
Lance Burr, Lawrence lawyer and former assistant attorney general, said he had been contacted recently by Lake 11 dissatisfied with the law. Lake State Estates or lake Ridenge Estates.
"Now we are just reviewing the people who are responsible for the activities that
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have taken place up there that have harmed the couples” Burr said. “These couples aren't necessarily concerned about the corporations. They are concerned about the people in them who cause these things to take place.”
Pool said the attorney general's office had received more than 100 written complaints from lot owners at Lake Shore Estates and at Lake Ridge Estates. Most of the complaints, Pool said, stemmed from promises by purchasers that didn't 'be fulfilled'.
MANY OF these promises allegedly were made oral by salesmen to purchasers. A document called the HUD report includes information about the development that all purchasers should receive and sign if they buy a lot.
HUD requires developments selling more than 50 lots (Lake Shore Estates and Lake Ridge Estate) such have more than 50 to present purchase offers. The HUD report doesn't guarantee that the information in it is accurate or whether the developer is reliable, nor does it determine whether the land is worth its price or keep track of what salesmen sell it.
Developers also are supposed to report such details as the nature of the sales contract, payment terms, whether there are any mortgages or liens on the property and whether those claims will have any effect on the buy price. If these claims will have to pay and tells the promised completion dates for recreational and other facilities.
a purchaser doesn't get a copy of the HUD report, he can demand his money back and revoke the contract at any time. If the purchaser is given the report fewer than 72 hours before he signs it, he has an additional 72 hours to revoke it and ask for a refund.
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THE ATTORNEY general's office made a list of the complaints about misrepresentation in regard to DMI. Some of the most common were: inadequate utilities; failure to construct a lake, stores, doctors' offices, streets, a boat dock and marina, a
clubhouse area, golf course; that land values would greatly increase in a short time; that the lot shown to the purchaser wasn't the lot he ultimately contracted for; that there wasn't a guard on duty as promised; that the salesman said that the
land was on special for that day only or was a bargain.
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DMI, formed in February 1978, obtained its HUD property report in October 1978, but because DMI hasn't been authorized to sell. See EXSTATES page 12.
See ESTATES page 12
We can give them that peace of mind.
We must let the new immigrants know that they do not stand alone.
STUDENT COORDINATING COMMITTEE FOR THE ISRAEL EMERGENCY FUND
keep the promise
No, we can't give them what they deserve in their course. We can provide for their basic human needs—housing education, food, transportation. We must help them as they build new lives, as they move and care for us.
We can give them peace of mind.
But the 70,000 immigrants to lakeland this year will find a land where their children live and land where they can live as Jews. Many, like the Soviet Jews, have suffered, have sacrificed, have waited for a new life, come seeking a new life.
The 70,000 immigrants to
Israel this year will find a
county full striving for
their own mobility.
Lives live surrounded by hostile
neighbors — enemies capable
of massacres at Led
Givati.
Information Table 2, Union Feb. 14-18. 10 a.m. to 2 p.m. or send your contribution to Kansas University Box 4 Lawrence, Kansas 66045
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Co
Big B **R**
To the
tens. **M**
To the
men. **T**
Twenty.
choose.
tenth.
Humana
multa
huma
mo-
MO-
you
ye-
Dear
sorrow.
Do
do-beth.
Lyme
lymne.