February 11, 2026……
Dear Fellow Seawatch-on-the-Beach owners,
We just received the January 31, 2026 financial update on the resort. When comparing January 31, 2026 with January 31, 2025, I regret to inform you that our maintenance dues that are unpaid have increased 265% year over year from $178,692 at January 31, 2025 to $473,560 at January 31,2026. These unpaid fees represent over 15% of our total ownership group and over 330 unit weeks. As a result of the delinquency of this group of owners, our cash on hand, year-over-year, has dropped from $655,292 to $238,155. As advised earlier, we continue to work diligently toward finalizing the insurance claim. In the meantime, owner delinquencies are further aggravating our financial situation. A high level of unpaid fees will result in a higher special assessment and the acceleration of any due date of an assessment. If you are in this group, please bring your account to current status immediately. Thank you. Tim Pellerin, Board President