Residents, saddled with decades of debt and the imminent shut-down of their utilities, say it's time the insurance giant settles up.

"I got my walking shoes," said Jo Anne Ponticelli, 44, one of 264 Le Parc condominium homeowners.

"We've got to protest ourselves. We don't want them to take our home. I'm scared to death, scared to death," she said. "It's a never-ending battle. It'll go on for years."

Saturday's 11/2-mile march will begin at 9 a.m. at City Hall, head south on Tapo Canyon Road and west on Cochran Street before settling in front of the Farmers Insurance Group building, organizers say.

Homeowners association officials hold Farmers accountable for paying off a $7 million judgment -- estimated to triple with interest -- in favor of ZM Corp. for defamation and breach of contract related to work done in 1994.

Farmers Insurance wrote a liability policy for the Le Parc Homeowners Association and has made only an "anemic attempt" at a settlement, said Ferenc Gutai, president of the Le Parc Community Association.

"The bottom line is, they've done everything not to help us," Gutai said. "We're being sucked into the financial vortex of destruction --all the legal safety nets are failing."

Farmers officials failed to respond after numerous phone calls Monday afternoon.

Because a court-appointed receiver has not paid $50,000 in utility bills, water, electric, gas and trash services at the west Simi Valley complex are scheduled to be cut off Aug. 1.

Numerous appeals have been filed against a court decision to uphold the arbitrator's judgment by assessing individual homeowners combined assessments of $300 a month. Liens have already been mailed to residents unwilling to pay their dues, which could result in the loss of their homes.

Gutai said 150 Le Parc residents met Saturday to protest disintegration of the west Simi Valley condominiums. Each promised to bring from five to 20 family and friends to the march.

"I'm coming, I'm trying to recruit everybody I know," said Donna Miller, 40. "We're looking for Farmer's to wake up and pay the claim on the H.O.A. insurance."