Lake Tahoe Park Association - Homeowners Associaiton on Lake Tahoe's West Shore
A Not forProfit Corporation acting as Trustee for the Property Owners of Lake Tahoe Park

Lake Tahoe Park Association Disclosure

January, 2007

Individuals who purchase land in Section 13, Township 15 N, Range 16E, of the Mt. Diablo Base and Meridian acquire an undivided interest in the land and recreation facility consisting of approximately 3.5 acres of lake front land, commonly known as 1700 Sequoia Avenue and 1790 West Lake Blvd., Placer County, State of California.

Each property owner has an obligation to support the facility and pay an annual assessment set by the Board of Directors prior to the Annual Property Owner's meeting, which falls on the first Saturday of each July. The assessment for the current calendar year is 1% of a properties assessed value with a maximum of $235.00. Effective with escrows opening on September 1, 2007 or later, first year investors are required to pay a one-time fee of $2,000.00 plus the normal $235.00 assessment. Rates are set each year by the Board of Directors.

The Association also owns property at 1790 West Lake Boulevard was has been leased out to various tenants. Many years ago it was used as an Exxon gas station. The station was closed in 1986 due to gasoline soil contamination. State agencies required the tenants and the Association to clean the site. That clean-up process continued through 2010. In early 2011, we were notified by the State that no further action was required to mitigate the clean-up. After initial assessments of $150 per parcel to fund the clean-up effort, the California Underground Storage Tank Fund Program reimbursed the Association for additional clean-up costs through 2010. With the formal termination of mandated clean-up activities, members of the Association have no further liability for any further clean-up activities from the gas station site.

The Association currently has approximately 50 buoys and two piers. The facilities are located on state land and legally require a formal permit. The original permit issued by the State of California has expired. A new permit has not been issued, however the State has been accepting an annual lease from the Association and the T.R.P.A. has issued and installed computerized tags approving the buoys.

The Association has a website at www.laketahoeparkassociation.com. The site provides a great deal of information, photos, annual property owners’ meeting minutes and current policies.