Welcome to the third edition of The Ledger^TM, Quarry's Edge's newsletter for Residents of our condo community in Sylvania Ohio.   We have more to talk about this issue and hope you enjoy reading it as much as we enjoy putting it together.

In this Issue...

The Amendment to the QE Documents Passes with a 58 to 1 margin.
      After all the dust settled, the Amendment to our Documents of Incorporation was passed with the required 75+ percent approval of all owners.  Read More

New HOA Fees go into effect in January.
      During their November Meeting, the HOA Board of Directors unanimously passed a resolution to raise the Home Owners Monthly Fees.  Read More

Clubhouse Rental Fees Increase for 2015
     And new fee structure was established by our Board increasing Fees and Deposits for daily Clubhouse rentals after January 1st, 2016  Read More

Is a Reverse Mortgage right for you?
      They’ve been getting a lot of Press and Advertising Dollars.   What are they all about and should you even consider one?  Read More

Got a news story for The Ledger?   Send us an email at MikeZets@gmail.com

Editorial Staff Contact Information
The Ledger Newsletter Editor - Mike Zets	412 670-7646
The Ledger Newsletter Graphics Design - Sandi Zets	440 452-5116

Friday ~ Jan 8 ~ 5:00 PM Monthly Residents' Social Hour BYOB
      As always, you're invited to join your fellow residents for a fun time in our Clubhouse.  Bring your own liquid refreshments and an appetizer to share. 

Friday ~ Feb 5 ~ 5:00 PM Monthly Residents' Social Hour BYOB

November 17, 2015 - Our Board of Directors met at their regular monthly meeting to discuss and resolve a number of important issues for our Residents.   Sid Trigillis presided and all members were present along with Mike Brown representing Seaway Asset Management.   Here is a brief overview of that meeting... *

      The most pressing matter before the Board was the issue of Insurance for the HOA and the Owners.   Two ballots were known to still be outstanding, so it was decided to table any discussions on the Budget and Fees until after the Board was certain of the final vote count.
      By now you should have received a letter announcing the passage of the Amendment.   If you have any questions on this, please get in touch with a member of our Board.   (See their contact information listed above.)

      Some other things discussed were...

      Rules Violations   The Board requested that we remind DOG OWNERS to pick up after each time their pets make a deposit.   Our Condo By-Laws will be enforced with fines levied against offending pet owners.

     Garbage Cans   Please remember that our Bylaws prohibit putting your Garbage Cans to the curb BEFORE 5:00 PM in the afternoon before a scheduled Pick Up.   If you won't be home to put it out, leave it outside your garage door and ask a neighbor to put it curb-side after 5:00 PM.   More residents are cooperating but a few still putting their can out way too early.

     Stone and Concrete Work has been completed for this year due to the onset of cold weather.   Caulking around windows in Stone-faced walls has also been completed complex-wide.   A prioritized list is being prepared for work to begin next Spring.

Document Amendment

      The final vote tally was made and the Insurance Amendment to our QE Documentation won approval of the majority of owners in a 58 to 1 final margin - winning approval with an 80.5% YES vote from owners. 75% of owners (54 YES votes in total) were required for passage.   This means very little to our owners who currently have "Condo Insurance" since the language of our Documentation now coincides with the usual language of the owners policy.   If you have "Renter's Insurance" or are unsure of what exact coverage you have, please contact your insurance agent immediately.   The amended documents have been recorded with the Lucas County Auditor's Office as required by Ohio Law.

2016 Budget and Fees

      The Board has approved the final 2016 Annual Budget. A copy was mailed to all owners on November 23 along with a letter from our Board President explaining the many projects necessary and/or desirable for next year.   As much guesswork as possible has been eliminated from the new Budget.   As you may have noticed, many routine expenses have increased significantly over the past one or two years and the Budget now reflects our best projections for costs in 2016.   As a result, it is absolutely necessary to increase revenue with a hike in fees.

     Monthly HOA Fees will increase effective January 1st 2016, as follows....
         Fees which are currently $213.00 will be $234.00.
         Fees which are currently $241.00 will be $267/00

     Clubhouse Rental Fee must also be increased. The current Rental Fee ($100 per day) will increase to $125.00 per day.   Please keep our Policy in mind when reserving the Clubhouse: A Reservation is not guaranteed until the Rental Fee and a Cleaning Deposit are received by Dave Brown at Seaway.   If multiple dates are to be reserved, the Rental Fee for each date MUST be received before the date will be reserved.   A single Cleaning Deposit may be made for the first of multiple rentals but will not be returned until the completion of the last rental.   The ONLY certain way to ensure a date has been reserved for you is to pay the Rental Fee for that date when making the reservation.   Otherwise, no reservation can be honored.   First Right of Refusal will be given to those Owners who regularly rent the clubhouse but have not yet guaranteed the date with a Rental Fee.

     Be sure to welcome our new neighbors, Richard and Helen Carter at 6112 Quarry's Edge.

Sylvania Twp. has instituted a free ALERT SYSTEM to send out text or email alerts to subscribing citizens about Police & Fire Emergencies, Road Closures, Public Meetings, Scheduled Pickups, and Other Information.   More Info...

News and Weather on your Phone or Tablet, 24/7.   Never be caught off guard again.   News App...    Weather App...

Michael Stoker Promoted to Commander...

December 1, 2015 - Naples, Italy
Michael Aaron Stoker, son of Sandi Zets, who is currently serving in the U.S. Navy with the Combined NATO Command, Europe and Africa Headquarters in Naples, Italy, was promoted to the rank of Commander (O5) in a ceremony on the morning of November 30th.  (Commander is the Naval equivalent to Lt. Colonel in the Army or Marine Corps.)

Cdr. Stoker graduated with Distinction from the US Naval Academy with a BS in Finance & Economics and was Commissioned in May, 2000.  He has a Master's Degree from the Naval War College and has served in various positions within the Surface Warfare Branch of the Navy including two tours in Hawaii and his last sea-duty tour as Chief Engineer on the Guided Missile Cruiser, USS Bunker Hill (CG-52).  This is his second tour in Italy.  Cdr. Stoker will be leaving Naples for temporary duty in the U.S. while attending Command Training in Newport. RI and at the Pentagon prior to assuming command as Commanding Officer of the USS Halsey, DDG 97, in February 2017. 

For those of you who have seen The Last Ship, a TV show about a destroyer which survives a civilization ending plague, the USS Halsey was the ship used in the filming of that series.

Reverse Mortgages...

The ads make them look so great.   Vacations, living a great lifestyle, happy couples, smiling at their good fortune.   Sincere Hollywood personalities make the commercials believable.   You can get cash now.   It’s so easy.   Just get your Reverse Mortgage and your problems will be solved.   Pay off debt.   Have fun.
Would The Fonz lie to us?

This begs the question: Why are so many Lenders spending Millions on advertising?

What’s wrong with this TV image of Eutopia?
When you're in a financial bind and need additional income, a Reverse Mortgage is just MORE debt.   And one of the most expensive forms of credit you can get.   Don’t be fooled.   If it seems too good to be true, it usually is.

Here are some reasons to think twice about getting a Reverse Mortgage:

1. The fees are often high.   Make no mistake.   This is a LOAN.   The Lender charges you interest to borrow your own money.   You must repay all loan-related fees.   Origination and other fees on a Reverse Mortgage are typically high.   A Reverse Mortgage is a home equity loan that isn’t decided based upon your income or your credit score.   As a result, there are unique risks to the Lender, and some of those risks are offset by charging higher fees at the outset.

2. High interest rates.   The interest rate on a Reverse Mortgage is often higher than the rate for a more traditional home equity loan.   Between the up-front fees on the Reverse Mortgage and the high interest rate over the life of the loan, you might be surprised at how little money you actually end up getting.   It’s your equity, but the bank gets an awful lot of it.

3. Your heirs may not get the house.   When you get a Reverse Mortgage, you aren’t expected to make payments on the loan.   Instead, the loan is paid off when the Lender sells your home.   So, when you die, the home is SOLD to cover the amount of the loan.   This means your heirs can’t just have the house.   If they want the house, they must pay off the Reverse Mortgage after you die - essentially, buying the house.   Paying off the loan usually means that the money has to come out of the estate, reducing the total that your children and grandchildren get.   After all, the Lender has sent you all those monthly payments, taking them out of the home's equity.   For someone hoping to leave a legacy, this can be a real drawback.

4. You must repay the loan WHEN YOU MOVE.   Dying isn’t the only way that repayment on a Reverse Mortgage is triggered.   In order to avoid making payments on the loan, you must occupy this home as your primary residence.   You are considered “moved out” if you haven’t lived in the home for a year.   This includes entering a long-term care facility.   So, if you are no longer able to stay in your home, but you haven’t died, you must start REPAYING your Reverse Mortgage at a time when you can least afford it.   This can put increased strain on your already tight budget.

If the elder who needs care in a facility has non-borrowing family members in that home, the loan is still due.   Anyone left in the home must move out, go into a care facility or be taken in by someone else.   Those displaced if a borrowing elder has to go to a care facility, can include a non-borrowing spouse, child or grandchild.   They are “tenants” according the rules of Reverse Mortgages and they must leave when the elder does.

5. You’re still responsible for home costs.   Throughout all of this, you are still responsible for your home costs including property taxes, homeowner's insurance, upkeep, repairs and regular maintenance.   If you have enough equity, you can get a Reverse Mortgage big enough to cover all these expenses, but it can still be a difficult situation.

6. The Loan can go into DEFAULT.   If an elder with a Reverse Mortgage fails to pay property taxes, to keep up insurance on the home, or fails to maintain the home, he is in default.   The Lender can then foreclose.   Elders who are low on cash may fail to pay home insurance premiums or property taxes and if they are getting forgetful or excessively frugal, they might not maintain the property.

Before deciding to get a Reverse Mortgage, carefully think through the situation.   The high costs, combined with the difficulties that will arise if you want to move out of the house or leave property to your heirs, can make a Reverse Mortgage far more trouble than it’s worth.   A better solution, if you’re strapped for funds, is to examine your retirement budget and look for creative solutions to help you retire without the negative baggage of a Reverse Mortgage.

One last piece of advice... Know more about your Loan AGENT than the person who bags your groceries at the store.
You're not shopping for hot dogs or canned soup.   You’re looking to mortgage your home.   Again!

Did You Know?

The our complex is approved for VA Loans?  This includes Refinance Loans for up to 100% of your condo's value.  If you're a Veteran and are considering redoing your mortgage, this may be an option.

Oven Baked
Chicken Wings

3 1/2 lb Chicken Wings (cut into individual parts) ~ Serves 4 - 6

COATING
1 tsp Garlic Salt
1/2 tsp Salt
1/2 tsp Paprika
1/4 tsp Black Pepper
1/3 cup AP Flour

Mix Coating Ingredients in a 1 Gallon Zip Lock^® Plastic bag until uniformly blended.

Preheat Oven to 400°   Prepare Coating. Pat Chicken parts dry in paper towels and seal in the plastic bag.  Shake well, rotating bag to coat all parts.  Cover a large baking sheet with Aluminum Foil and spray with cooking spray.  Place wings on foil, arranging to just not touch each other.

Bake for 25 minutes.  Turn wings over and continue baking for additional 25 minutes.*
          ^{* - Note: If wings are Room Temperature Prior to baking, you may need to reduce initial cooking time by 5 minutes.}

Serve hot, as is, or with your choice of BBQ sauce, Ranch dressing, Hot sauce, etc.

If wings are large, you can make two batches of Coating and use two plastic bags to coat half of the wings in each bag.  I prefer to butcher the wings into forearms and drumettes (discarding the tips) but you may wish to use full pieces.  If you don't want the garlic flavor (It's very mild.), substitute regular salt for the Garlic Salt.

Saturday ~ Oct 17     A Winner & New Champion!

This year we saw 5 Chefs enter the annual Chili Cookoff.  Hot samples of each entry were served to all present at the October First Friday Social Hour.  Our thanks to the gals who volunteered to dish out and serve over 100 samples of some of the best Chili you've ever tasted.

Following the judging, a winner was chosen by show of hands.

When asked what her secret was, Sandi said, "This year I added Dark Red Beans and a little extra spice."  The voting was overwhelmingly for her chili.  Will she enter again next year?  Sandi insists that she will retire a Winner and give someone else a chance to be QE's Best Chili of the Year.  We wonder who it will be in 2016.

Sandi's name has been added to the Permanent Trophy in the Clubhouse immortalizing her contribution to our collective culinary repertoire and she proudly displays the Traveling Trophy on a Bookcase in her Living Room.  It will go to next year's winner.

      If you haven't heard yet, there is more New Technology coming your way from your Bank and Credit Card companies.  To improve security, your "Plastic" will now come with an imbedded chip as well as the usual magnetic strip on the back.  Each chip will contain all of your account information to be used in stores and other points of purchase such as gas stations, kiosks and toll booths.  The chip allows the user to simply swipe the card near the card reader in much the same way as you currently use your key fob to access our Clubhouse.

But here's a very important reminder...  When you get your new replacement cards, make sure that the number on the card, the Expiration Date and the Security Number on the back have not changed.  If they have, you will need to change that information with all of those places on-line where you use your cards.  This includes places like Amazon, PayPal, Netflix, Hulu, and other vendors where you have Payments arranged by Direct Withdrawal.  Places like the Gas Company, your Cell Phone service, and Easy Pass.  The trickiest ones are those that only access your card once or twice a year.

Don't forget to change things at your favorite Charities if you give a small monthly donation to PBS or a religious organization.  If you forget any of them, the next time they go to withdraw your payment, your card (with its old information) will be declined.  This can result in a shut off of a service or rejection of your card the next time you use it.  Don' Panic!  Just remember to check carefully when your new cards come in the mail.

      Like it or not, we're becoming a paperless society.   This newsletter is just another example.   We really want you to be able to enjoy the future editions of the newsletter but WE NEED YOUR EMAIL ADDRESS to make that happen.

Your privacy is paramount to us.   Just like Unlisted numbers for phones before cell phones took over the world, you should be able to have an UNLISTED Email address that you only give to those who will respect your privacy.  No Unsolicited Email.   No Junk Mail.   Just a newsletter about every other month from Quarry's Edge.

      The email address you provide will NOT be sold, loaned, rented or shared with anyone, ever.   And it will NOT be published in our Community Directory unless you specifically tell us to do so.

If you have NEWS, INFORMATION, RECIPES or PHOTOS you would like to share with your fellow residents in this Newsletter send us a note at MikeZets@gmail.com.  We'd be happy to include it in our next issue.