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FREQUENTLY ASKED QUESTIONS AND ANSWERS SHEET
JAPANESE GARDENS HOMEOWNERS CORPORATION
January 1, 2009
Q. How many units in the park?
A. 414.
Q. Is this a resident-owned park?
A. Yes. It is a Cooperative Association. Each resident has a 1/414th
share in the
Corporation.
Q. How much is a share/membership certificate?
A. Shares were purchased for $12,000 each, many years ago. The share
is now
included in the price of the unit.
Q. What are my voting rights?
A. The owner of each Membership Certificate shall be entitled to one
vote. If an owner owns more than one Membership Certificate (owns
more than one unit), he shall be entitled to one vote for each
certificate. Each Membership Certificate's vote shall not be devisable.
Q. Is this an adult park?
A. Yes. One occupant must be over 55, the other over 45.
Q. Does the park maintain my lawn?
A. This is the owner's responsibility. There are lawn services that do work
in the park.
Q. Do you have any rules and regulations?
A. Yes. For example: only two adults to a home, and guests' stay is
limited to thirty days; pets are allowed in the pet sections only;
residents may not keep pick-up trucks in the park, but guest (renters
are not guests) may keep their pick-up truck in the carport while
visiting. Copies of Rules and Regulations are located in the
Prospectus
and have been summarized/amended, copies of R & R
are available at
the office.
Q. May I rent my unit?
A. Two-month minimum, six-month maximum. No subletting. See
Prospectus and R & R.
Q. What about garbage collection and recycling?
A. Paid when you pay the county property taxes. Friday is recycling, yard
waste and regular garbage day.
Q. What about property taxes?
A. They are paid to Sarasota County. Check with County Tax Appraiser
for estimates and homestead requirements. Filing for Homestead
Exemption lowers your taxes.
Q. How much are your maintenance fees?
A. Maintenance fees are subject to lot size. Majority of lots (313) are
single lots and pay $167/month. Maximum fee currently is
$185/month. Water, sewer and cable TV are included in these fees.
Q. Are there any pending lawsuits or assessments against the
Association for $100,000 or more?
A. No.
Q. Do I have to be a member in any other Association?
A. No.
Q. Am I required to pay rent or land use fees for recreational or other
commonly used facilities?
A. No.
NOTE: THE STATEMENTS CONTAINED HEREIN ARE ONLY A SUMMARY IN NATURE. A PROSPECTIVE PURCHASER SHOULD REFER TO ALL REFERENCES, EXHIBITS HERETO, SALES CONTRACTS AND COOPERATIVE DOCUMENTS.
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