The Symphony at Town Center Condo Assoc. Inc.

Transcription

1 The Symphony at Town Center Condo Assoc. Inc. Important Information PREPARED EXCLUSIVELY FOR: Rhinestone Way Ramsey, MN 55303

2 The Symphony at Town Center Condo Assoc. Inc. Disclosure Documents PREPARED EXCLUSIVELY FOR: Rhinestone Way Ramsey, MN 55303

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4 Dear Homeowner, On behalf of FirstService Residential Minnesota, I would like to welcome you to your new home and community! FirstService is the nation's leading property management firm specializing in the management of community associations like yours. We have been engaged by your Board to oversee the daily operations of The Symphony at Town Center Condominium Association, Inc and assist them in maintaining the character, quality, value and financial integrity of your association. With many years of experience in planning, community development and operations management the FirstService Residential Minnesota Difference is our full-service innovative approach to managing your community. We strive for excellence; best serving our clients by recognizing the individuality of each community and working to build a mutually beneficial long-term relationship. Enclosed in this package is detailed information regarding your community, which includes: Management Team Information Contact Information Hours of Operation Customer Care Center 24-hr Emergency Service Connect - Community Website Payment Information Census Form Association Rules & Regulations Please review the enclosed documents carefully and feel free to reach out to your Community Manager with any questions you may have. For more information regarding FirstService Residential Minnesota, please visit our website at Once again, welcome to your new home! Sincerely, Mark Gittleman President FirstService Residential Minnesota Minnesota

5 Disclosure Certificate Name of Common Interest Community: Legal Name of Owner's Association: Address of Association: Owner Name(s): Unit Number(s): Symphony at Town Center The Symphony at Town Center Condominium Association, Inc Bunker Lake Blvd Ramsey, MN Jody Steele Rhinestone Way Ramsey, MN Important Information The following information is furnished by the Common Interest Community named above according to Minnesota Statutes, section 515B There is no right of first refusal or other restraint on the free alienability of the above unit(s) contained in the declaration, bylaws, rules and regulations, or any amendment to them, except as follows: There is no right of first refusal or other restraints on the free alienability of the above referenced unit(s). Account Information The following amount is the balance for account number RHW : Balance as of 05/11/16: $0.00 Assessment Installments The following periodic installments of common expense assessments and special assessments are payable with respect to the above unit(s): Assessment Installments: Association Dues: $ is due Monthly on the 1st day of the payment period. The following additional fees or charges other than the assessments are payable by unit owners: Late Charge: $25.00 will be attached to any assessment received 15 day(s) after due date. *Please refer to the association's rules and regulations (attached) for any additional fees that the homeowner may be obligated to pay. Other Disclosures 1. There are no extraordinary expenditures approved by the association, and not yet assessed, for the current and two succeeding fiscal years, except as follows: None at this time.

6 Disclosure Certificate (continued) 2. Has the association approved a plan for levying certain common expense assessments against fewer than all the units according to Minnesota Statutes, section 515B (e)(1) or (2)? If a plan is approved, a description of the plan is attached to this certificate. The association has not approved a plan. 3. The association is obligated to replace the following components of the common interest community: The association is obligated to replace all common elements of the association as noted in Article 9 of the Declaration which is the responsibility of the seller to furnish. 4. The association has the following amounts in its reserves for the replacement of those components: As of March 31, 2016, the balance is $210, The Association does not reserve for replacement of components that have a remaining useful life of more than 30 years, or components whose replacement will be funded by limited or benefit assessments authorized by Minnesota Statute Section 515B.3-115(e)(1) or special assessments approved in accordance with Minnesota Statute Section 515B.3-114(a)(5). Please refer to the Association's current reserve plan, a copy of which is attached, for further information. 5. The replacement of the following components is funded by assessments levied only against the unit or units served by the component, pursuant to Minnesota Statutes, section 515B.3-115(e)(1) or (2). The homeowner rather than the Association is obligated to pay for the maintenance and replacement of limited common elements unless stated otherwise in the Declaration or determined otherwise by written resolution of the Board of Directors. Expenses associated with the replacement of components of the property identified as benefitting only certain units or a class of units may, at the discretion of the Board as the Declaration may permit, be separately assessed against the unit or class of units benefitted. 6. The following documents are furnished with this certificate according to statute: a. The most recent regularly prepared balance sheet and income and expense statement of the Association. b. The current budget of the Association. 7. There are no unsatisfied judgments against the Association, except as follows (identify creditor and amount): None known at this time. 8. There are no pending lawsuits to which the association is a party, except as follows: Please see attached in regards to active litigation. 9. The board of directors of the association has not notified the unit owner (i) that any alterations or improvements to the unit or to the limited common elements assigned to it violate any provision of the declaration; or (ii) that the unit is in violation of any governmental statute, ordinance, code, or regulation, except as follows: None known at this time. 10. The remaining term of any leasehold estate affecting the common interest community and the premises governing any extension or renewal of it are as follows: 11. This Resale Disclosure Certificate is given in connection with the resale of a unit by a unit owner who is not declarant and who, therefore, is not liable for express warranties under Minnesota Statutes, section 515B.4-112, or implied warranties under Minnesota Statutes, section 515B The conveyance of this unit may, however, result in a transfer of preexisting warranties made by a declarant under the referenced statutes, subject to the terms of Minnesota Statutes, sections 515B and 515B N/A

7 Disclosure Certificate (continued) 12. In addition to the above, the following matters affecting the occupancy or use of the unit, or the unit owner's obligations with respect to the unit, are deemed material: 13. Important Information: Please review the Association's Declaration and Operating Policy / Rules & Regulations. Insurance Information N/A The following section describes insurance coverage provided for the benefit of unit owners: Carrier: American Family Expires: Deductible: $10,000 Phone: Fax: Description of Insurance Coverages: X Property Casualty X Umbrella X General Liability Equipment Breakdown X Crime/Fidelity Bond Volunteer Policy X Directors Officers X Worker's Compensation No, but an H06 policy is highly recommended The following described fixtures, decorating items, or construction items within the unit referred to in Minnesota Statutes, Section 515B (b), are insured by the association: X Ceiling finishing materials X Wall finishing materials X Carpeting X Finished flooring (other than carpeting) X Electrical fixtures serving a single unit X Plumbing fixtures serving a single unit X Cabinetry X Finished millwork X Heating, Ventilating and Air Conditioning equipment serving a single unit X Built-In appliances Other improvements and betterments (additions of alterations made to the unit after the sale from the Developer to the first unit owner)

8 Disclosure Certificate (continued) Acknowledgement I hereby certify that the information provided above is true and correct to the best of my knowledge as of 05/11/2016. Steve Sis Steve Sis Association Manager FirstService Residential Minnesota Direct: (952) Main: (952)

9 Resale Disclosure Certificate Property Address: Rhinestone Way, Ramsey, MN Association: The Symphony at Town Center Condominium Association, Inc Account Number: RHW Transaction History Date Type Description Amount Balance 04/07/16 Payment Lckbx Pmt ($224.00) $ /01/16 Charge Association Dues $ $ /05/16 Payment Lckbx Pmt ($224.00) $0.00 Balance $0.00

10 Disclosure Certificate SELLER'S RECEIPT In addition to the foregoing information furnished by the association, the unit owner is obligated to furnish to the purchaser before execution of any purchase agreement for a unit or otherwise before conveyance, copies of the following documents relating to the association or to the master association (as applicable): the declaration (other than any common interest community plat), articles of incorporation, bylaws, rules and regulations (if any), and any amendments to these documents. Receipt of the foregoing documents, and the resale disclosure certificate, is acknowledged by the undersigned buyer(s). Dated: Buyer Signature Printed Name Buyer Signature Printed Name