4. Date control of association transferred from developer to unit owners: 5. Are all common elements and amenities complete within the HOA?

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1 195 W. Main, Suite 112 Lehi UT Questions about this form? Please us at HOA Questionnaire 1. Complete legal name of the association: 2. Association type: 3. Are all units detached? 4. Date control of association transferred from developer to unit owners: 5. Are all common elements and amenities complete within the HOA? 6. Are all amenities, recreation, and facilities commonly owned jointly by the unit owners (including the master association)? 7. What common elements and amenities need to be completed? 8. If common elements are not complete, is there a bond letter or completion assurance for the incomplete common elements and amenities? If yes, please provide a copy. 9. Date unites were first made available for purchase: 10. Are any common elements leased to or by the Homeowners Association? 11. Does the developer retain any ownership in the project other than interest in unsold units? 12. Is the Homeowners Association involved in any current or pending litigation? 13. Total number of legal phases at completion of entire project: 14. Total number of completed legal phases: 15. Total number of units in the project: 16. Total number of completed units: 17. Total number of units used as a primary residence: 18. Total number of rental units or offsite addresses in the project: 19. Total number of units used as second homes in the project: 20. Total number of units that are sold and conveyed in the project:

2 21. Total number of units left to be sold by the builder/developer: 22. Total number of units encumbered by FHA financing: 23. Is any one person under contract to purchase or already owns more than one unit in the project? 24. Please list how many units each individual owns (for those who own more than one unit): 25. How many stories is the project and/or buildings comprised of? 26. Are there elevators within the project? 27. Is the project subject to inclusionary zoning which may affect future sales? 28. Is the project a legal and conforming use of land? 29. Is the project subject to additional annexation or phasing? 30. Is the project a conversion of an existing building? 31. Is the project a full or partial rehab? 32. Is the project a manufactured housing project? 33. Do all units contain full sized kitchen appliances? 34. Are HOA assessments equally assessed to all units? 35. If assessments are variable, please explain 36. Amount or range of HOA assessment 37. Frequency of HOA assessment 38. Can the Homeowners Association assessment fee change? 39. If assessment amount can change, please explain 40. Are there any special assessments pending or levied within the Homeowners Association? 41. Date special assessment is due 42. Total amount of special assessment per unit? 43. Does the Homeowners Association assessment include culinary water to the units? 44. Total income budgeted for the current year 45. Total reserves budgeted for the current year

3 46. Total amount held in reserve account for future repair and/or major component replacement 47. Does at least 10% of the budget provide for funding of replacement reserves, capital expenditures, deferred maintenance, and insurance deductible? 48. Does the Homeowners Association maintain separate accounts for the operating expense and reserve accounts? 49. Are the monthly bank account statements being sent directly to the Homeowners Association? 50. Does the property management company have authority to draw checks against or transfer from the reserve account? 51. Are two or more members of the Board of Directors required to sign checks drafted against the reserve account? 52. Total number of unit owners currently more than one month delinquent in Homeowners Association assessments 53. Total amount of delinquent HOA dues 54. Can two or more units be owned by one owner as evidenced by one mortgage deed? 55. Total units that are under bona fide contract in project 56. Are the units owned as fee simple or leasehold? 57. Do the project documents include any restrictions on sale which would limit the free transferability of title? (i.e. age restriction, low-moderate income restrictions)? If yes, please explain in the comments section 58. If a lender obtains title to a unit through foreclosure or through deed in lieu of foreclosure, are they liable for more than six months unpaid Homeowners Association assessments? 59. Do the project documents require that the mortgagee obtain the approval of the Homeowners Association for foreclosure or to take title to a Condominium Unit pursuant to the remedies in the mortgage? 60. Do the project documents require that the mortgagee obtain the approval of the Homeowners Association to accept a deed or assignment in lieu of foreclosure in the event of default by a mortgagee? 61. Do the project documents require that the mortgagee obtain the approval of the Homeowners Association to sell or lease a unit acquired by the mortgagee or its assignee? 62. Is the Homeowners Association subject to a master/umbrella association? 63. Legal name of Master Association 64. Amount of Master Association assessment

4 65. Are all common areas and facilities complete within the master community? 66. Is the HOA managed by a professional management company? 67. Can the management agreement be cancelled with or without cause, by the HOA with no more than 90 days notice? 68. Does the project have rental desks, short term occupancy (up to 7 days), or daily cleaning services? 69. Is the project a timeshare or segmented ownership project? 70. Is the project a houseboat project? 71. Is the project a condo hotel/motel? 72. Is the project an investment security, common interest apartment, or does the project have any non-incidental business operation owned or operated by the HOA? 73. Are short term rentals permitted? 74. Are there commercial or apartment spaces located within the project or in the same building? If yes, please explain in the comments section. 75. Total commercial square footage 76. Total apartment spaces 77. Total commercial and apartment income 78. Total number of commercial units within the project 79. Is the project part of a mixed use building? (contains both commercial and residential space but not part of the association) 80. Is the association self insured? 81. Is the amount of insurance equal to or greater than 100% of the current replacement cost? 82. Does the policy carry a condominium endorsement clause? 83. Amount of liability limit per occurrence for bodily injury 84. Amount of Fidelity Bond/Employee Dishonesty Insurance coverage 85. Amount of Earthquake Insurance coverage 86. Amount of insurance policy deductible 87. Is the amount of the insurance deductible less than 5% of the building coverage? 88. Master insurance policy expiration date

5 89. Minimum number of days required for written notification to be given to the HOA or insurance trustee before any substantial changes or cancellation of the project coverage? 90. Are units or common improvements located in a flood zone? 91. Is flood insurance in place? 92. Is flood insurance (if required) in place providing coverage at least equal to the lesser of 100% of the insurable value of the facilities or the maximum coverage available under NFIP? 93. Is the flood insurance coverage the maximum available per condominium federal flood program? 94. Please enter Insurance Agent information below: Company: Insurance Provider: First Name: Middle Initial: Last Name: Phone Number: Fax Number: HOA Contact Information: Company: Parker Brown First Name: Middle Initial: Last Name: Phone Number: (801) Fax Number: (801)