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Managed by
MEB Real Estate Management, Inc.
6150 S.R. 70 East
Suite 202
Bradenton, FL 34203
941-756-1800

6039 Cypress Gardens Blvd.
Suite 313
Winter Haven, FL 33884
863-397-3090
,

Association Information

Is there a master association?No
Does the project operate as a resort hotel, renting units on a daily basis?No
Is there any part of the project used for commercial property?No
When was the last Reserve study completed?N/A
Is there a sales/lease application fee?No
Is an interview required?No
How is the contact made?MEB Real Estate Management, Inc.
Barbara Hemingway
941-756-1800 Office
941-756-1884 Fax
bhemingway@mebrealestate.com
www.mebrealestate.com
Does the association have the right to approve the buyer?Yes
Move-in/Move-out policy or fee?No
Resale or lease application fee?$100.00 Estoppel fee.
Is there a minimum rental period?60 days. No more than two 60 day minimum rentals in one calendar year.
Number of units rented?0
Are there other rental restrictions?No
Does any one person or entity own more than one unit?No
Does any one person own two units under a single mortgage?No
Does any one person or entity own 10% or more of the project?No
How many units are sold to owner occupants?10
Number of buildings5
What Fire District is this property in?North River
Is there a towing agreement in place?Yes
Who can authorize towing of vehicles?Management or BOD
Is there on-site staff?No
Is there a pet policy?Yes
Is there a policy for satellite dishes?Yes
Is there an access policy?Yes
Gate opener contact and cost:Contact at gatehouse. $5.00

What is the minium/maximum # of Board Members?3 Minimum

Legal Name of Association?Fairway Trace Condominium Association, Inc.
When is the Annual meeting held?Date and Time designated by BOD
Notice requirement:14
Quorum Requirement:51%
Is the project a conversion of an existing building?No
What year was the property built?1999

Is the project subject to additional phasing and add-ons?No
Number of phases in the project?1
Maximum # of vehicles per unit?See Rules and Regulations
What are the parking restrictions?See Rules and Regulations
Are for sale signs or for rent signs allowed to be displayed on the property?No
Is there an Architectural review policy?Yes

Type of housing?Condominium
Are all units, common areas, and/or facilities complete?Yes
Total number of units in the project when completed?10
What facilities are included in the common areas?Pool (Shared Use)
Does the homeowner contact the trash vendor directly for service?No
How does the homeowner dispose of hazardous material?Contact City of Palmetto
What day(s) is landscape maintenance performed?Varies
Is there controlled access to the common areas?No
How many assigned parking spaces per unit?See Rules and Regulations
Number of buildings?5
Type of contruction?Single Story Block & Stucco
Type of siding?N/A
Type of roof?Shingle
Is there exterior pest control?Yes
Is there interior pest control?Yes
Does this property have laundry facilities?No

When is the budget meeting?December
Is there notice requirement for the budget meeting?Yes 14 Days
Are there any pending or levied special assessments?No
There are no extraordinary expenditures approved by the association, and not yet assessed, for the current and the two succeeding fiscal year, except as follows:No
Does the association have a reserve fund separate from the operating account?Yes
Does the project's budget provide for replacement reserve funds?Yes
Amount of individual association fees:$1354.00
When are the association fees due?Quarterly
When is a late fee assessed?11th day of month when due. 15% plus $25.00.
Is there working capital required to be deposited by a buyer? Details:No
Is electronic payment available?Yes
When is the fiscal year end?December

Is the Assocaition involved in any litigation?No
When was the last insurance appraisal completed?2007
Hazard insurance renewal date:May
Are the individual units covered by the project's master or blanket hazard insurance policy?Yes
Does the project require flood insurance coverage?Yes
How do I get an insurance certificate?Contact MEB Real Estate Management, Inc.
941-756-1800
Are there any adverse environmental factors affecting the project as a whole or as individual units?No
Do the project legal documents include any restrictions on sale, which would limit the free transferability of title (i.e. Age Restrictions, First Right of Refusals, other deed/income restrictions)?No
Is the unit part of a legally established project in which common areas are owned jointly by unit owners?Yes
Are the units owned fee simple or lease hold?Fee Simple
Are the amenities/recreational facilities jointly owned by the HOA?No
If a unit is taken over in foreclosure or deed-in-lieu, is the mortgagee responsible for delinquent HOA dues?Yes per Statute
Does the individual unit owner own a parcel of land fee simple improved with a dwelling?No
Is the development administered by an HOA that owns and is obligated to maintain property and improvements within the development for the common use and benefit of the unit owners?Yes
Do the unit owners have an automatic, non-severable, interest in the homeowner's association and pay mandatory assessments?Yes
Does the association contain 2-4 unit dwellings with a single title?No
The association recommends/requires owners to purchase an HO-6 insurance policy?Yes requires

Can the management company draw checks from the reserve accounts?No
Association Manager:Barbara Hemingway
Contact phone:941-756-1800
Who is the registered agent?MEB Real Estate Management, Inc.
Who is the managing agent?MEB Real Estate Management, Inc.
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