FREQUENTLY ASKED QUESTIONS AND ANSWERS GOLF LAKES RESIDENTS ASSOC. INC. AS OF August 2019

Q: What is my voting rights in the Co-Op Association?

A: One vote per unit.  You may vote on matters brought before the annual meeting or any

Membership meeting of the Association.

 

Q: What restrictions exist on my right to use my unit?

A: You may find your answer in the prospectus pages 25 thru 88.

 

Q: What restrictions exist on the leasing of my unit?

A: You may find your answer in the prospectus pages 25 thru 88.

 

Q: How much are my assessments to the Co-Op Association for my unit type and when are they due?

A:  The assessments to the Association are  $185.38 per month along with the lot preferential fee (which the average is $10 each unit).  The assessments are paid quarterly (3 months at a time) and are due the first day of each quarter.  (January, April, July, and October)

 

Q: Do I have to be a member of any other Association? If so, what is the name of the Association and what is my voting rights in this Association?  Also, how much are my assessments?

A: No.

 

Q: Am I required to pay rent or land use fees for recreational or other commonly used

Facilities?   If so, how much am I obligated to pay annually? A:  No.

 

Q:  Is the Co-Op Association or other mandatory membership Association involved in any court cases in which it may face liability in excess of $100,000.00?  If so, identify each such case.

A:   No.

 

NOTE: THE STATEMENTS CONTAINED HEREIN ARE ONLY SUMMARY IN NATURE.   A PROSPECTIVE PURCHASER SHOULD REFER TO ALL REFERENCES, EXHIBITS HERETO, THE SALES CONTRACT, AND THE CONDOMINIUM DOCUMENTS.

Golf Lakes Realty, Inc.  a Licensed Real Estate Brokerage 5050 5th St E. Bradenton, FL

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