FREQUENTLY ASKED QUESTIONS AND ANSWERS

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Q: What are my voting rights in the condominium association?

A:Section 5.3 Each Unit Owner shall be a member of the Association. Each Unit Owner shall, by virtue of owning a particular unit, be entitled to one (1) vote regardless of the manner in which the title or ownership is vested subject to an in accordance with the provisions and restrictions set forth in the By-Laws.

Q: What restrictions exist in the condominium documents on my right to use my unit?

A: Section 16 In order to promote the health, happiness and peace of mind of the majority of the Unit Owners, to provide for congenial occupancy of the Condominium Property and for the protection of the values of the Units, the ownership, occupancy and use of the Condominium Property shall be restricted in accordance with the following provisions:

16.1 No sale, transfer or conveyance of a Unit shall be valid without the approval of the Condominium Association. Approval shall be in recorded form, signed by an executive officer of the Association and shall be delivered to the purchaser and made a part of the recorded documents.

16.2 Occupancy: Each Unit shall be used as a single family residence only and may only be occupied as indicated in Association By-Laws. One-bedroom Unit shall not be occupied by no more than two (2) persons, and a two-bedroom Unit shall not be occupied by no more than four (4) persons per HUD 7465.1 Rev. 1 Chapter 5

16.4 No pets are permitted other than small fish or a small bird.

16.5 No alterations may be made to limited common areas without prior approval from the Board of Directors

16.11 Guest parking spaces or restricted to the use of guest of Unit Owners and Unit Owners shall not park in designated Guest or Handicapped spaces, as designated.

16.15 Each Unit Owner who provides proof of ownership of a vehicle shall be entitled to one (1) space for their exclusive use. Unit Owners must use their assigned space only. Spaces are for private vehicles only and no other type of vehicle is permitted

Q: What restrictions exist in the condominium document on the leasing of my unit?

A:  Section 16.9 No Unit or portion thereof may be rented and no Unit may be subleased.

Q: How much are my assessments to the condominium association for my unit type and when are they due?

A:  Amount of monthly special assessment is based on the Percentage of Unit Owners Share of Common Expenses based on annual budget approval annually. Monthly assessments are due on the first of each month.

Q: Do I have to be a member in any other association? If so, what is the name of the association and what are my voting rights in this association? Also, how much are my assessments?

A:  No

Q: Am I required to pay rent or land use fees for recreational or other commonly used facilities? If so, how much am I obligated to pay annually?

A:  No. However the Condominium Association is a member of the Hillcrest Presidents Council to which it must pay a monthly assessment which provides access to amenities and facilities managed by the Hillcrest Presidents Council. This monthly assessment is part of the annual budget of the building to which all Unit Owners pay a portion based on Percentage of Unit Owners Share of Common Expenses.

Note: THE STATEMENTS CONTAINED HEREIN ARE ONLY SUMMARY IN NATURE. A PROSPECTIVE PURCHASER SHOULD REFER TO ALL REFERENCES, EXHIBITS HERETO, THE SALES CONTRACT, AND THE CONDOMINIUM DOCUMENTS.

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