Fee Disclosure:

Resale Certificate Fee

$125 (charged to the Unit Owner upon receipt of the request for a resale certificate)

Working Capital Fund

$596 (one bedroom units)

$812 (two bedroom units)

 

Monthly Common Expense Assessments

HOA Dues

$298 (one bedroom units)

$406 (two bedroom units)

Special Assessment Fee

$67 (one bedroom)

$88 (two bedroom)

Buyer Acknowledgment & Disclosure:

1. The Association requires a minimum of 70% owner occupancy as a primary residence. The Association is currently at 41% owner occupancy as a primary residence, and therefore, this Unit needs to be occupied by the owner(s) as a primary residence and not as a secondary residence.

2. The Town of Lincoln issued the Association the following Notice of Violation(s):

• The first-floor Units experience sewage backup during heavy rainfall in the showers/bathtubs, kitchen sinks, bathroom sinks and toilets. The Association is actively working with civil engineers to complete engineered drawings depicting the repair process.
• The corridor windows need to be replaced as the seal is broken resulting in water condensation causing damage to internal building components. The roof and corridor wall violations have been resolved.

3. The Association's insurance provider issued a hazard repair requirement:

The first two hazards have been resolved. The third hazard requires the repair of the damaged retaining wall. The Town of Lincoln inspected the retaining wall and confirmed that it is in need of repair to prevent a potential collapse given the wall is cracked and leaning. The Association is currently working with commercial structural engineers to complete engineered drawings depicting the repair process.

4. The Condominium Documents (i.e. Declaration, By-laws & Rules and Regulations) prohibit smoking in the common and limited common areas of the property grounds.

5. The Parking Lot, Visitor Parking, and Towing amendment is currently in effect and will be recorded at the Town of Lincoln once the land survey and updated plat plan in progress are finalized, as these documents need to be recorded at the same time.

6. The Association prohibits dogs on the property grounds, and a maximum of two cats are permitted per unit. This amendment is currently in effect and will be recorded with the Town of Lincoln following a final review by legal counsel.

7. The Association prohibits the operation and storage of BBQ grills, smokers, hibachis, other outside cooking appliances, and related components, including but not limited to propane tanks in the Units, common areas and limited common areas of the condominium, including but not limited to balconies and lawn areas.

8. Violations of the Association's Declaration, By-laws & Rules and Regulations are subject to the following provisions:

"ARTICLE XIV MISCELLANEOUS

14.2. Enforcement.

Violation of any of the terms of this Declaration, including the By-Laws and the Rules and Regulations, shall be grounds for relief which may include, without limiting the same, an action to recover any sums due for money damages, injunctive relief, foreclosure of the lien for payment of all assessments, and other relief provided for in this Declaration, or any combination thereof, and any other relief afforded by a court of competent jurisdiction, all of which relief may be sought by the Association, the Executive Board, the Managing Agent, or any Owner or Mortgagee.

14.3. Court Costs and Attorney Fees.

Each Owner or other person violating the terms hereof, shall be liable for all court costs and reasonable attorneys fees incurred by the Association, Executive Board, Managing Agent and any Owner relating to such violation. The failure or forbearance by any person to enforce any covenant or restriction herein contained shall in no event be deemed a waiver of the right to do so thereafter."

Buyer 1 Info:

 Financing Type:

H-O6 Insurance:

(binders are not accepted)

Per the Condominium Documents, insurance for the Unit is required.

Accuracy & Verification Confirmation:

By submitting this form to request a resale certificate, along with my electronic signature, I hereby acknowledge that all information disclosed herein is accurate to the best of my knowledge. I have diligently verified the accuracy of the provided details with the buyer(s) participating in this transaction, ensuring its absolute truthfulness.

 

Please click 'Continue' to submit your electronic signature along with this form.

The resale certificate will be processed and issued within 10 days, provided that all required information has been submitted. Please plan the closing date accordingly.

Please note, failure to submit the required information may lead to additional delays.