HomeMy WebLinkAbout1502 Pending sale by the developer of all one hundred fifty (150)
units, and with respect to the developer's share or obligation to pay
the caamon expenses attributable to the units unsold, the developer
shall have the following options: (1) To pay the percentage share
of the total common expenses attributable to each unit which is unsold
and which is owned by the developer, or ( 2 ) To guarantee and provide
payment of the common expenses to the extent that total amount payable
to the association attributed to the units which have been sold to
purchasers is insufficient to meet the total actual expenses of the
entire project.
ARTICLE XI (20)
• ESTIMATED OPERATING BUDGET FOR THE CONDOMINIUM AND THE ASSOCIATION
A schedule of the estimated unit owner's expenses is attached
hereto as Exhibit "E" and an estimated operating budget for the con-
dominium association is attached hereto as Exhibit "F".
ARTICLE X~II (21)
SCHEDULE OF ESTIMATED CLOSING EXPENSES TO BE PAID BY BUYER
In addition to the balance of the purchase price, purchasers
shal l be required to pay at closing the following
I~ A. Recording of Deed $4 - $7
B. Florida Documentary Stamps on the actual purchase price
of each unit. Documentary Stamps are computed at the rate of $.40 per
S 100 or part thereof of the purchase price .
C. Prorated share of real estate taxes (or estimated taxes)
on the unit for the year in which closing takes place.
D. Prorated share of purchaser's share of common expenses
for the month in which closing takes place .
E. If the purchaser requires financing by mortgaging or by
other means, or employs legal counsel, any such costs involved will be
paid by the purchaser including abstract costs or mortgage title
insurance as required by a lender.
All other closing costs, including attorneys' fees, prepara-
tion of documents, costs for copies of condominium papers and owner's
title insurance policy shall be the expense of the seller.
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