EDA, LLC (Electronic Design Associates, LLC) is wholly owned by Jim and Sandy Engandela and the Pleasant Valley property is our homestead.
The Pleasant Valley Legacy is an EDA, LLC–owned product that has been implemented within Pleasant Valley Property, LLC, a Delaware limited liability company.
To fulfill its mission, Pleasant Valley Property, LLC must reach full capitalization of $2,500,000—either through continuous $15,000 monthly contributions or a single lump sum.
A critical structural error was made in the formation and contractual framework of Pleasant Valley Property, LLC: the Operating Agreement does not contain a curable Capitalization Default mechanism. This omission is a fatal flaw.
As the Managing Member, it is my fiduciary duty to correct this flaw to ensure the LLC remains structurally sound, ethically governed, and capable of surviving.
If a Member is in Capitalization Default, the LLC must have the legal authority to:
- Suspend that Member’s voting rights
- Buy out their interest at a fair valuation
- Resell the Legacy to a qualified successor
A Capitalization Default must be curable. That mechanism is not optional—it is fundamental to the survival of Pleasant Valley Property, LLC and the protection of Jim and Sandy’s Legacy.
This correction is not about control or conflict. It is about structural integrity.
