Pursuant to the provisions of §5407 of the Pennsylvania Uniform Planned
Community Act, it is hereby certified as follows:
- There have not heretofore been granted by the Laurel Homeowners
Association any rights of first refusal or other restraints on the free
alienability of this unit.
- The Monthly Installment of the Annual Assessment for common expenses for
this unit is $0.00. The amount of any unpaid common expenses, special
assessment, or other fees currently due and payable is $0.00. The
amount of any credits applicable to this unit is $0.00. All amounts are
correct as of the date of this certification. Monthly assessments and/or other
fees occurring from this date until the date of settlement will also apply.
- There are no other fees payable by Unit Owners, other than monthly common
expense assessments to a condominium association if this unit is a
condominium.
- Improvements proposed by Laurel Homeowners Association for the current
year and the next two succeeding fiscal years include, but are not limited to,
paving of roads, tennis court renovations, and front entrance renovations.
- The current reserves for capital expenditures are $0.00, which are
designated for specific projects as follows: replacing elements of the common
property.
- The most recently regularly prepared balance sheet and income and expense
statement, if any, of Laurel Homeowners Association is attached.
- The current operating budget of Laurel Homeowners Association is attached.
- There are no judgments against Laurel Homeowners Association, and there
are no pending lawsuits to which Laurel Homeowners Association is a party,
except as follows: None
- Laurel Homeowners Association does not maintain or provide insurance
coverage for the benefit of individual unit owners on any unit nor any limited
common element, but does maintain or provide the following insurance coverage
on common property for the benefit of all unit owners:
- General Liability Policy
- Umbrella Liability Policy
- Blanket Building and Asset Coverage on common property
- Laurel Homeowners Association has no knowledge that any alterations or
improvements to the unit or to the limited common elements assigned to the
unit violate any provisions of the Declaration or Bylaws, other than those
described herein:
- None
- Laurel Homeowners Association has no knowledge of any violations of
applicable governmental requirements or of the existence of any hazardous
conditions pursuant to Section 5402(a)(27) of the Uniform Planned Community
Act or with respect to the unit, the limited common elements assigned thereto,
or any other portion of the community, the health or building codes with
respect to the unit limited common elements assigned thereto, or any other
portion of the community except as follows: None
- There is no leasehold estate of any kind affecting the community.
- The Declaration does not provide for cumulative voting, but does provide
for class voting.
- No agreement to terminate the community has been submitted to the unit
owners for approval.
- Laurel Springs consists of: Master Association – Laurel Springs Master
Association; Homeowners Association – Laurel Homeowners Association;
Condominium Associations – Laurel Springs Condominium Association Phase I and
Laurel Springs Condominium Association Phase II.
- There are no units which may be owned in time-share estates.
- There are special declarant rights to cause a merger or consolidation of
the community. As per Article II of the Declaration, any merger, addition, or
consolidation shall not alter the recorded Declaration nor effect any
revocation, change, or addition to the recorded Declaration.
The information contained in this resale certificate is true and correct as
of the date hereof only. The information contained herein may change at any time
and from time to time, in accordance with the Declaration.
Certified by _______________________________
Date __________________