CONDOMINIUM ASSOCIATION CERTIFICATION

Transcription

1 CONDOMINIUM ASSOCIATION CERTIFICATION GENERAL INFORMATION Complete Legal Name of Project: The Melville Condominium Association, Inc. 1 The project is a: X Attached Condominium Detached Condominium PUD (Lot under unit is individually owned) 2 4 Unit Condotel Manufactured Housing Other Describe Total number of units in project: 49 Total number of buildings in project: 1 Total number of units used as primary home: 35 Total number of units used as investment properties: 12 Total number of units used as a second home: 2 Total number of units unsold: 0 Total number of phases in project: 1 2 For condominium projects with 2 4 Units, complete the following: N/A a) Does any single entity (the same individual, investor, group, partnership or corporation) Yes No own more than one unit within the project? b) Are all the Units, common elements, and facilities within the project 100% complete? Yes No c) Are all but one Unit in the project conveyed to owner occupant residence or second Yes No home purchasers? 3 Is there more than one association for the project, such as a "Master" or "Umbrella" Association? X Yes No a) If yes, what is the name of the Master Association? Port Warwick Conservancy b) What is the legal type of the Master Association? X Planned Development Master or Condominium Master or Multi Condominium Master 4 Title to the units is held as (check one of the following): X Fee Simple Leasehold 5 Year the project was built: Projected completion date of project: Is the project a conversion? Yes X No

2 Was the project converted during the past three years? Yes No a) If yes, did the conversion include gut and rehab of all the buildings mechanicals and interior components? Yes No 8 Is the project listed on the National Register of Historic Places or within a historic district? Yes X No 9 Are any of the units in the project subjected to Affordable Housing Deed Restrictions Yes X No or Resale Restrictions? 10 Does the project include any rent controlled stabilized units? Yes X No If yes, how many 11 Is the project a legally phased project? Yes X No 12 Are all units, common elements and amenities in the Project complete? X Yes No a) Date construction was completed for all buildings in the project Do the unit owners have sole ownership in and exclusive right to use the project facilities? X Yes No 14 Is the project subject to additional phasing, annexation or add ons? Yes X No 15 Does any single entity, individual, or group own more than 10% of the total units in the project? X Yes No 16 If developer/sponsor still owns units in the project, answer the following: N/A a) Are any of the unsold units rented or available for rent? X Yes No If yes, how many are currently rented? 12 b) For new condominiums where the developer/sponsor is still in control of the association, is the developer fully contributing to the associations budget for the unsold units? N/A Yes No If yes, does this include contributions to the reserve account? Yes No 17 a) Do the unit owners participate in a rental pooling agreement? Yes X No Note: Rental pooling refers to the practice of combining the rental income from all units and then sharing the proceeds amongst all participating unit owners. b) Is there a check in desk (registration) for the leased/rented units? Yes X No c) Does the Association use advertising, a web site or signage promoting rentals? Yes X No d) Does the Association provide a cleaning service for rented units? Yes X No e) Are any services within the project provided by a hotel, motel or resort operator? Yes X No f) Does the project allow timeshares or fractional interest ownership on any unit? Yes X No g) Is the project an "Assisted Living Community" that provides meals and/or medical care? Yes X No h) Are daily and/or weekly rentals allowed? Yes X No i) Are the units typically sold furnished? Yes X No j) Are any of the units in the project less than 400 square feet? Yes X No k) Do all the units have a full kitchen? X Yes No Note: A full kitchen consists of an area that is separate from the bath area and includes: separate sink, countertop, cabinet storage, cook top, oven or

3 microwave convection combo and refrigerator. l) Are there any unit owner restrictions on year round occupancy (aka: blackouts)? Yes X No 18 Is there any litigation, judgments or liens pending with regard to the project. Yes X No 19 Is the project currently involved in receivership or bankruptcy? Yes X No 20 Are the individual units separately metered for water? X Yes No 21 Are the individual units separately metered for electricity? X Yes No 22 Are the individual units separately metered for gas? X Yes No 23 Are the individual units separately metered for other? Yes X No 24 Can any of the units in the project be used both as a residence and a retail/commercial place Yes X No of business or professional artist studio (aka: live work)? 25 Are there any identified environmental hazards affecting the property? Yes X No 26 Does the project consist of multi dwelling unit projects that permit an owner to hold Yes X No title to more than one dwelling unit by a single deed or mortgage? COMMERCIAL/NON RESIDENTIAL USE INFORMATION 27 Is any of the project commercial? X Yes No If yes, what percentage of the project square footage is commercial space? Note: Divide the square footage of the commercial space into the total footage of the project. 28 What percentage of the total votes do the commercial units have in the association? a) Commercial Association % b) Master Association 0% NA 29 Does the project have one or more commercial components as a sub association Yes X No If yes, describe the commercial use(s) (office, retail, restaurant): 30 Are any of the commercial enterprises owned or managed by the association? Yes X No CONTROL/TRANSFER INFORMATION 31 Has control of the Association been turned over to the unit owners? X Yes, control was turned over in (month/year) Mar 06 No, the anticipated date for the transfer of control is (month/year) BUDGET/FINANCIAL INFORMATION 32 The association fees are: The same for all units. $ per

4 X Different for each unit. The assessment range is: $ per MONTH per MONTH 33 Does the association have one or more of the following financial controls in place? X Yes No If yes, check all that apply: X X Separate bank accounts are maintained for the operating account and the reserve account(s), each with appropriate access controls, and the bank in which funds are deposited sends copies of the monthly bank statements directly to the association (or management company). The management company maintains separate records and bank accounts for each association that uses its services, and the management company does not have the authority to draw checks on, or transfer funds from the association's reserve account without authorization from the association. Two members of the Board of Directors must sign any check written on the reserve account. 34 The total amount currently held in Replacement Reserves, for future repairs and/or replacement of components of the project is: $ 771, as of 28 Feb Has the association approved a special assessment within the last two years? Yes X No If yes, explain reason for assessment, total dollar amount, date assessed, payment terms, number of units paid in full and owners overall balance outstanding. 36 Number of units in the project that are more than 30 days delinquent on payment of assessments: 9 Total dollar amount that is more than thirty days delinquent: $ $4, INSURANCE INFORMATION 37 Policy number Carrier or agent Agents phone numb Deductible Hazard Insurance: BOP25598N Harleysville Mutual , Liability: CMB25597N Harleysville Mutual Fidelity: Travelers , Workman's Comp WC35596N Harleysville Mutual a) Does the master HAZARD/DWELLING policy cover the interior of the units Yes X No (Including walls, flooring) b) Does the master HAZARD/DWELLING policy cover BETTERMENTS & IMPROVEMENTS? Yes X No c) Is hazard insurance in place to cover 100% of the insurable replacement cost of the X Yes No project improvements? d) Is liability insurance in place providing at least $1 million of coverage for bodily injury X Yes No and property damage per occurrence? e) What is the total amount of fidelity insurance coverage? $ 750, f) Is flood insurance (if required) in place providing coverage at least equal to the lesser Yes X No of 100% of the insurance value of the facilities or the maximum coverage available under NFIP? (Maximum deductible is the lesser of $5, or 1 % of policy's face amount unless state law requires a higher deductible.) MANAGEMENT AGREEMENT 38 Is there a professional management company? X Yes No

5 39 What is the term of the agreement? 2 years 40 Can the association cancel the agreement without penalty, with no more than 90 days notice? X Yes No NEW OR NEWLY CONVERTED CONDOMINIUMS The following information is being provided for new or newly converted condominiums. Any condominium that does not meet all three of the following characteristics is considered "new". a) 100% complete b) Control of the association turned over to Unit owners c) 90% of the Units are sold and closed. CONDOMINIUM DOCUMENT REQUIREMENTS a) Are the condominium documents created in accordance to state law and other applicable laws and regulations? X Yes No b) When do the condominium documents require that control of the association be turned over to the individual unit owners? 3/4 undivided interests in the common elements allocated. c) If the condominium documents contain a first right of refusal, do they exclude foreclosure or accept a deed or assignment in lieu of foreclosure and there is no mortgagee X N/A limitations on their rights to sell or lease a Unit acquired by the mortgagee or its assignee? Yes No d) The condominium documents can only be terminated for substantial destruction or condemnation without mortgagee approval or with other cause and 51% mortgagee approval? Yes X No e) The condominium documents provide for notification to the mortgagee by the association under the following circumstances: Condemnation or casualty loss. X Yes No 60 day delinquency for the assessment on a mortgaged Unit. Yes X No Lapse or cancellation or material change to the master insurance policy. X Yes No Any action that requires consent of a specified percentage of mortgagees. X Yes No f) The condominium documents state that the mortgagee is not responsible for more than six months of unpaid dues when a Unit is obtained through foreclosure or deed in lieu. Yes X No ASSOCIATION CERTIFICATION The undersigned hereby certifies that to the best of his/her knowledge and belief the information and statements contained on this form are true and correct. The undersigned further represents that he/she is authorized by the Association Board of Directors to provide this information on behalf of the Association. United Property Associates (757) Association/Management Company Name Signature Susan Smith Printed Name Telephone 4/1/2014 Date Association Manager Title