Revised Settlement Agreement Edit page

Subject: Revised Settlement Agreement – Approved by the Court 

January 12, 2026

Dear Arras Owners,

The Court granted the motion for court approval of settlement on January 12, 2026. This ends litigation.

The MHOA will continue to work with Schindler to keep our elevators meeting Key Performance Indicators (KPIs). This is a core responsibility of the MHOA.

The RHOA, assisted by the elevator committee, will monitor and publish KPI compliance with the five (5) metrics stipulated in the Revised Settlement Agreement every quarter for the 8-year term of the Agreement.

Key elements of the Agreement are:

• 8-year term with automatic modernization if KPIs repeatedly fail.
• Developer cost-sharing: 50% of RHOA’s share if modernization is required in the first 5 years, with phased contributions thereafter.
• $200,000 Developer payment to the MHOA reserve fund for elevator upgrades.
• Legal cost reimbursement: up to $50,000 to Michael Fulbright and up to $25,000 to RHOA.
• Five industry-standard measurable KPIs.

Please contact any Board member with questions or for further information.

Thank you.

Rich, Jeff and Clinton