Resale Certificate

Community: Laurel Springs

Homeowners Association: Laurel Homeowners Association

Unit: XXXXXXXXXXXXXXXXXXXXXXX

Pursuant to the provisions of §5407 of the Pennsylvania Uniform Planned Community Act, it is hereby certified as follows:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. The current reserves for capital expenditures are $0.00, which are designated for specific projects as follows: replacing elements of the common property.
  6. The most recently regularly prepared balance sheet and income and expense statement, if any, of Laurel Homeowners Association is attached.
  7. The current operating budget of Laurel Homeowners Association is attached.
  8. 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
  9. 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:
    1. General Liability Policy
    2. Umbrella Liability Policy
    3. Blanket Building and Asset Coverage on common property
  10. 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:
    1. None
  11. 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
  12. There is no leasehold estate of any kind affecting the community.
  13. The Declaration does not provide for cumulative voting, but does provide for class voting.
  14. No agreement to terminate the community has been submitted to the unit owners for approval.
  15. 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.
  16. There are no units which may be owned in time-share estates.
  17. 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 __________________

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