Daniel Wiener moves the following:<br><br><p class="MsoNormal"><br></p>
<p class="MsoNormal"><b>Motion to approve the purchase of an office in the greater Washington,
D.C. area contingent on the following
conditions:</b></p>
<ul style="margin-top:0in" type="disc"><li class="MsoNormal"><b>A
minimum of 33% of the purchase price plus build-out shall be raised from
dedicated contributions.<span> </span>If a
portion of that is in the form of pledges, the pledges must be converted
to cash before a purchase contract and loan agreement are finalized.</b></li><li class="MsoNormal"><b>Any
loan must be based on a minimum of a 30% down payment and a loan with
options extending for a minimum of 10 years before a final balloon payment
becomes due.</b></li><li class="MsoNormal"><b>The most
recent financial statement reported unrestricted general fund balance must
exceed $167,000 before a purchase contract and loan agreement are
finalized.</b></li><li class="MsoNormal"><b>A 2/3
majority of the LNC must approve the specific terms of the purchase
contract and loan agreement on an up-or-down vote.</b></li><li class="MsoNormal"><b>Additional
payments towards the principal loan balance of at least $60,000 per year
above the minimum loan requirement must be made, with this requirement
structured in such a way that future LNC bodies cannot easily circumvent
it.<span> </span>These payments shall be in the
form of an additional $5,000 per month paid out of the general fund, but
reimbursable from dedicated building fund contributions.</b></li></ul><p></p><p>Co-sponsored by Vicki Kirkland, Michael Cloud and Ruth Bennett</p><p></p><p><b>Please respond directly to <u>this</u> email</b>. Voting is open until DEC 3, 2012 at 11:15 PM EST.</p>
<p>Thank you!</p><p>Ruth E. Bennett, LNC Secretary<br></p><p><br></p><p><br></p><p><br></p><p><br></p><br>