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Now this is SEVU NEWS! Lawsuit filed against Golden Springs

http://www.sun-herald.com/search/search.asp?showarticle=153193

Read down to the good part at the bottom! here it is for you blind folks.

While waiting on the comp plan and court battle with the county to end, Ullmann was involved in another lawsuit against Golden Springs filed by La Jolla Cove Investors Inc., a California investment firm, demanding a $435,000 loan payment from Golden Springs.

Ullmann said since the lawsuit, he has negotiated with the investment firm and has established a two-year repayment agreement with the company.

Looks like the "gift" was RLM was actually used to secure a loan from La Jolla? Interesting!

STORY AS FOLLOWS

2/28/2002

Lawsuit filed against Golden Springs

NORTH PORT -- The water at Golden Springs, formerly known as Warm Mineral Springs , is getting a little warmer.

In a lawsuit filed last week in the 12th Circuit Court in Sarasota, Bioluminescence Institute Inc. is suing Golden Springs LLC, and managing member Edward Ullmann, for breach of a lease agreement for an unspecified amount of money.

Ullmann, his wife, Patty, and close partners own 65 percent of controlling interest in Golden Springs, which operates the 81-acre resort and spa at Warm Mineral Springs.

Court records show Bioluminescence Institute was leasing a building at Golden Springs for proposed on-site diving activities, a full-service hyperbaric ride, diving school, diving rental and sales center.

Bioluminescence president William Delp established the 10-year lease with Golden Springs in November 2000.

In the suit, Delp claims Ullmann canceled the lease a year later. Records revealed he wanted to remove the "valuable equipment" from the springs; however, he made several unsuccessful attempts through his lawyer.

In a December 2001 letter from Ullmann to Delp's then-lawyer Thomas Woolley Jr., Ullmann said Golden Springs "will vigorously defend its position to terminate" the agreement. "We are confident that we are acting properly under the terms and conditions of the agreement," he stated.

Ullmann said Delp should contact him to remove his equipment.

"Golden Springs does not want the continuing image that it is going to have an on-site hyperbaric ride or diving school under Mr. Delp's leadership," he stated.

The lawsuit claims that Ullmann was removed as member-manager of Golden Springs on Nov. 14, and that Ullmann "continuously threatened and harassed" Delp. The suit also requests that a permanent injunction be placed against Ullmann if the court determines the lease agreement is still in effect and he can use the facilities.

In an earlier interview with the Sun , Ullman said Golden Springs was waiting on the city of North Port's comprehensive plan approval to launch a master plan which includes a medical area, park land and entertainment for local residents.

The city annexed Golden Springs into the city two years ago. The state Department of Community Affairs in Tallahassee approved the comprehensive plan amendments earlier this month.

The site is the only warm springs located in Florida. The site was owned by the Daley family, which purchased it in 1955. It was inherited by Mary Alice Wheeler, Fred Daley Jr. and Doris Herron. The Herron family sold it to several investors, including Ullmann.

Sarasota County challenged the voluntary annexation of the springs two years ago. The decision is still tied up in the court system.

Ullmann said he and his partners are planning on continuing the improvements envisioned by the former owners.

While waiting on the comp plan and court battle with the county to end, Ullmann was involved in another lawsuit against Golden Springs filed by La Jolla Cove Investors Inc., a California investment firm, demanding a $435,000 loan payment from Golden Springs.

Ullmann said since the lawsuit, he has negotiated with the investment firm and has established a two-year repayment agreement with the company.

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By ELAINE ALLEN-EMRICH

Staff Writer Email this story to a friend or relative


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