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Colonial Forest Lottery Rental Program

Colonial Forest Homeowner’s Association Lottery Rental  Program Rules and Regulations

                    
                               Initiated effective: August 15, 2014

 

    1. LOTTERY SYSTEM ESTABLISHED: A Lottery system is hereby established to allow the subletting of one Home within the Colonial Forest Complex.
 

     2. LOTTERY ANNOUNCEMENT: The Lottery system initiates from an announcement letter sent out from the Colonial Forest Board of Directors to all homeowners in the Colonial Forest Complex. The Lottery announcement letter gives a submission cutoff date that is at least 30 days after the announcement letter (see use in paragraph #3) and a lottery date that is a few days later (see use in paragraph #4).
 

     3. NAMES SUBMITTED TO LOTTERY: The Lottery announcement letter gives a cutoff date by which time names must be submitted to the system through Targa. Names that are received after the cutoff date are invalid.
 

     4. LOTTERY IS HELD: The Lottery announcement letter gives a lottery date. On the lottery date, an impartial Colonial Forest homeowner or Targa official, as picked by the Colonial Forest Board of Directors, will blindly draw three names from the names submitted validly to the Lottery. The first name drawn is considered to be the Lottery Winner and the next two names are alternate runner ups.
 

      5. LOTTERY WINNER SENT NOTICE: A dated letter will be sent by USPS Certified Mail from the Colonial Forest Board of Directors to the Lottery Winner with notice that they have won the Lottery. The Lottery Winner is told that they have a maximum thirty (30) days from date given on the notice letter to indicate that they are still interested in subletting their unit.
 

      6. LOTTERY WINNER ACCEPTS: Within thirty (30) days from date given on the notice letter (see paragraph


          #5), the Lottery Winner must send a written and dated acceptance to the address                     given in paragraph
          #11, that they are interested in subletting their unit. (If the winner is not interested                     see paragraph
          #14.) (If the winner fails to respond see paragraph #15.)
 

       7. LOTTERY WINNER FINDS LESSEE: The Lottery Winner has a maximum of ninety (90) days from the date of acceptance (see paragraph #6) to sublet their unit. (If winner fails to find a lessee see paragraph #16.)
 

        8. LOTTERY WINNER OBTAINS SIGNED LEASE: Lottery Winner must obtain a signed, dated lease/rental agreement from their Renter/Lessee.
 

        9. LOTTERY WINNER OBTAINS EMERGENCY CONTACT DETAILS: Lottery Winner must obtain emergency contact information from their Renter/Lessee. CFHA Lottery Rental 8-15-2014
 

       10. LOTTERY WINNER OBTAINS SIGNED AGREEMENT TO CF R&RS: Lottery Winner must obtain a signed, and dated copy Colonial Forest Homeowner’s Association Rules & Regulations from their Renter/Lessee. To comply with the general Association rules that all residents must also abide by, the Renter/Lessee must read, initial each item and sign that they have read and agree to abide by the Colonial Forest Homeowner’s Association Rules & Regulations as a condition of renting the unit.
 

       11. LOTTERY WINNER SUBMITS SIGNED PAPERS TO TARGA: Lottery Winner shall send the signed, dated lease/rental agreement, the emergency contact information regarding their Renter/Lessee and the initialed, signed and dated Colonial Forest Homeowner’s Association Rules & Regulations (see paragraphs #8, #9 and #10) to:
             

             Targa Real Estate Services, Inc.
             Attn. Mark Pierovich
             Community Association Manager for Colonial Forest
             720 S. 348th Street, Suite A-2
             Federal Way, WA 98003


 

       12. LOTTERY WINNER NOTIFIES ON TERMINATION OF LEASE: Lottery Winner will immediately notify Colonial Forest Homeowner’s Association when the Renter/Lessee terminates the Lease Agreement, at which time the Lottery Winner is removed from the system. There will be only one (1) rental/lease agreement allowed per Lottery Winner, regardless of the time the lessee remains in residence.
 

        13. NEXT ALTERNATE HAS OPPORTUNITY: Once the Renter/Lessee terminates the Lease Agreement (see paragraph #12) the next alternate runner up Homeowner from the Lottery event (see paragraph #4) is sent a dated letter by the Colonial Forest Board of Directors by USPS Certified Mail with notice that they can now sublet (see paragraph #5).

         14. LOTTERY WINNER NOT INTERESTED: Should a Lottery Winner determine they are no longer interested in subletting their unit in writing, they will forfeit their position in the system and the next alternate runner up candidate as picked in the Lottery (see paragraph #4) will be notified of eligibility (see
               paragraph #5).
 

          15. LOTTERY WINNER FAILS TO RESPOND: Failure to respond within the thirty (30) day time frame (see paragraph #6) will cause forfeiture, and the next alternate runner up candidate as picked in the Lottery 

(see paragraph #4) will be notified.

            

          16. LOTTERY WINNER FAILS TO LEASE: Should a Lottery Winner fail to establish a lease within the ninety
(90) day time limit, then their position is forfeit in the system and the next alternate runner up candidate as picked in the Lottery (see paragraph #4) will be notified of eligibility (see paragraph #5).
 

           17. DECLARE NEW LOTTERY: Once the all Lottery candidates have had the opportunity to sublet, then a new Lottery will be declared by the Colonial Forest Board of Directors. ( see paragraph 2).