~~U. S.~~UNITED ~~SECURITIES AND EXCHANGE COMMISSION~~STATES

~~Washington, D.C.~~ SECURITIES ~~20549~~AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

~~PURSUANT TO~~Pursuant ~~SECTION~~to Section 13 ORor 15(d) OFof ~~THE~~the Securities Exchange Act of 1934

~~SECURITIES EXCHANGE~~Date ~~ACT~~of OFreport ~~1934~~(Date of earliest event reported): October 26, 2010

~~Date of~~Lakeside ~~Report~~Mortgage ~~(Date of Earliest Event Reported): May 28~~Fund, ~~2008~~LLC

~~LAKESIDE MORTGAGE FUND, LLC~~__________________________________________

(Exact name of registrant as specified in its charter)

Commission file number 000-50893



California	000-50893		52-2387294
(State or other jurisdiction	(Commission		(I.R.S. Employer
of incorporation)	File Number)		Identification No.)

1501 Fifth Ave, Suite 100 San Diego, California			92101
(Address)			(Zip Code)

Registrant’s telephone number, including area code:		(619) 294-8989

	California	52-2387294
	(State or other jurisdiction of	(I.R.S. Employer
	Incorporation or organization)	Identification No.)
	1738 Yuba Street, Redding, California	96001
	(Address of Principal Executive Office)	(Zip Code)

N/A

~~(530) 226-5850~~ ______________________________________________

~~(Registrant’s Telephone~~ Former ~~Number)~~name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o [x] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o [ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o [ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).

Item 5.0207. ~~Departure~~Submission of ~~Directors~~Matters orto ~~Certain~~a ~~Officers;~~Vote ~~Election~~ of ~~Directors; Appointment~~Security ~~of Certain Officers; Compensatory Arrangement of Certain Officers~~Holders.

The Committee to Protect Lakeside Mortgage Fund (bthe “Committee”) ~~On May 28~~, ~~2008~~announced that on October 21, ~~Placido~~2010, Hthe independent inspector of elections provided the Committee with preliminary results of the consent solicitation. ~~Canta~~These ~~resigned~~preliminary ~~from~~results ~~his~~indicate ~~position~~that asthe Committee received more than the ~~chief~~requisite ~~financial officer~~number of written consents to approve the proposal to remove Lakeside Financial, Group, Inc., the current manager, of the Lakeside Mortgage Fund, LLC, a California limited liability company (the “~~Manager~~Fund”), ~~which~~and isreplace them with Sovereign Capital Management Inc. or its affiliate, as the new manager of the ~~Registrant~~Fund described in the Consent Solicitation. ~~June~~The 20preliminary results received from the independent inspector of elections show that of the 232,045 ~~2008~~total ~~will~~Fund bemembership ~~Mr.~~units ~~Canta’s~~outstanding, ~~last~~130,340 ~~day~~units were represented in ~~his~~the ~~position~~vote (56. ~~There~~17% ~~has~~of ~~been~~the nototal ~~disagreement~~Fund ~~between~~membership Mrinterests). ~~Canta~~Of ~~and~~the 232,045 total units outstanding, the ~~Registrant~~preliminary results indicate that on Proposal #1, orthe ~~between Mr~~net vote was 56.17% ~~Canta~~in favor (130,340 units), 0% against (0 units), and ~~the~~0% ~~Manager~~abstained (0 units). On Proposal #2, onthe ~~any~~election ~~matter~~of Sovereign Capital Management, Inc. ~~The~~or ~~Manager~~its ~~has~~affiliate, ~~not~~as ~~appointed~~the anew ~~chief financial~~manager, ~~officer~~the topreliminary ~~replace~~results ~~Mr.~~indicated ~~Canta~~that 56.15% voted for (130,302 units), 0% voted against (0 units), and 0% abstained (0 units).

~~SIGNATURES~~Of the total net consents remitted during this process, 100 % voted in favor of the removal of the current manager (130,340 units), 0% voted against (0 units), 0% abstained (0 units). With respect to the approval and admission of Sovereign Capital Management, Inc. as the new manager, of the total net consents remitted, 99.97 % voted for (130,302 units), 0 % against (0 units), and 0% abstained (0 units).

~~Pursuant to~~As ~~the~~of ~~requirements~~October of21, 2010 the ~~Securities~~Committee ~~Exchange~~had ~~Act~~received telephonic notification of ~~1934~~1.210 % (2,809 ~~the~~units) ~~Registrant has duly~~wishing ~~caused~~to ~~this~~revoke ~~report~~their tovote. beNo ~~signed~~written onsubmission ~~its~~of ~~behalf~~this request has been received by the ~~undersigned~~Committee ~~hereunto duly~~at ~~authorized.~~this time, with the net effect of this being reflected in the above percentages.

	LAKESIDE MORTGAGE FUND, LLC, A California Limited Liability Company
Date: May 29, 2008	By:	Lakeside Financial Group, Inc.,
		Manager
	By:	/s/ Paula M. Lewis
		Paula M. Lewis, President

Item 8.01. Other Events.

On behalf of the Fund, Sovereign Capital Management, Inc., the manager of the Fund, filed the press release attached hereto as Exhibit 99.1 today regarding the results of the consent solicitation. The information in the press release is incorporated herein by reference.

Exhibits



Ehibit No.		Description
99.1		Press Release, dated October 26, 2010.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



October 26, 2010	LAKESIDE MORTGAGE FUND, LLC

	By:	Sovereign Capital Management, Inc.

	Its:	Manager

	By:	/s/ Todd A. Mikles

		Todd A. Mikles
		Chairman and Chief Executive Officer

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