The History of Discontent - Church St.
From 1988 to 2005, the Cedarpines Park Mutual Water Company (CPPMWC) were the exclusive owners of 19 lots located on Church St in Cedarpines Park, CA. This real estate ( 19 lots ) were held as collateral against the U.S.D.A. loan grant that the CPPMWC received in about 1994. It is questionable whether the company had the right to give or sell off these assets without prior approval from the U.S.D.A.
In 2005, 4 of the 19 lots were sold to the CPPMWC Office Manager's son. It is alleged that the 4 lots were originally given to the CPPMWC Office Manager, Terry Mabile, but due to a Federal Tax lien filed on Mr. Mabile at that time, the property transaction reflected Mr. Mabile's son, Adam, as the owner, presumably to "hide the asset" from the Federal government.
About 3 months later, Adam Mabile sold the 4 lots to the CPPMWC Field Manager, Darel Davis. The actual transaction shows the Grant Deed was issued to Darel Davis' company, DGE, Inc.
The Shareholders discovered the transaction and brought the matter to the attention of the Board of Directors. By September 2005, the property transaction was reversed and CPPMWC reclaimed the 4 lots.
Presently, the Cedarpines Park Mutual Water Company is still the exclusive owner of 19 lots, located on Church St in Cedarpines Park, CA.
In 2005, 4 of the 19 lots were sold to the CPPMWC Office Manager's son. It is alleged that the 4 lots were originally given to the CPPMWC Office Manager, Terry Mabile, but due to a Federal Tax lien filed on Mr. Mabile at that time, the property transaction reflected Mr. Mabile's son, Adam, as the owner, presumably to "hide the asset" from the Federal government.
About 3 months later, Adam Mabile sold the 4 lots to the CPPMWC Field Manager, Darel Davis. The actual transaction shows the Grant Deed was issued to Darel Davis' company, DGE, Inc.
The Shareholders discovered the transaction and brought the matter to the attention of the Board of Directors. By September 2005, the property transaction was reversed and CPPMWC reclaimed the 4 lots.
Presently, the Cedarpines Park Mutual Water Company is still the exclusive owner of 19 lots, located on Church St in Cedarpines Park, CA.
The Controversy - Church St.
Response from the Board of Directors regarding the incident?
President Friedman stated regarding the Church Street property sale, that the action was not well though out. After the Organizational meeting on 7/30/05, the Board discussed the matter and unanimously agreed that the transaction should be rescinded. Our attorneys were consulted. Upon advice of consul the Board obtained agreements from all parties and the transaction was rescinded. Currently the property is back in the name of the water company. Upon motion made and seconded the property transaction of the Church Street property was rescinded.
~~ September 20, 2005 - Regular Meeting Minutes
~~ September 20, 2005 - Regular Meeting Minutes
How were Shareholders affected by this incident?
Something to think about?
If the Board of Directors had terminated their employment relationship with Terry Mabile and Darel Davis then is there a possibility that the Canyon Vista issue never would/could have happened?
Who were your Board members then?
Church St. Parcel Information - 15 lots
Church St. Parcel Information - 4 lots
Last modified - January 20, 2016