Garden Isle Homeowners Association - Legacy Brochure

<body> <p><h3><strong>This page uses frames, but your browser doesn't support them.</strong></h3></p> <p align="center"><font size="4"><b><font face="Arial, Helvetica, sans-serif" size="+2">Garden Isle Townhouses</font></b></font></p> <p align="center"><font face="Arial, Helvetica, sans-serif" size="+1">A new way of life where you are freed from the pressures of urban living.</font></p> <p> </p> <p><font face="Arial, Helvetica, sans-serif"><b><font size="+1">a sound investment. </font></b></font></p> <p><font face="Arial, Helvetica, sans-serif">A Garden Isle Townhouse is a sound and profitable investment. Your down payment and monthly payments build a cash equity that belongs to you alone. if you decide to sell, it will bring a valuable cash return. You may even borrow against the equity if you so desire it is a tangible asset. Alameda is growing dramatically. New public park areas, schools, shopping centers and fine homes all help make your Garden Isle Townhouse grow in value each day. </font></p> <p><font face="Arial, Helvetica, sans-serif"><b><font size="+1">maintenance and repairs.</font></b> </font></p> <p><font face="Arial, Helvetica, sans-serif">Repairs, painting and maintenance of exterior walls, driveways, walkways, lawns, trees, shrubs, streets no pools are all included in your low monthly dues. Water bills and fire insurance are also paid for out of your Garden Isle Townhouse Association dues. You will never again have to mow a lawn, rake leaves, paint the exterior of your home, trim a tree or repair a sidewalk. </font></p> <p><font face="Arial, Helvetica, sans-serif"><b><font size="+1">tax saving.</font></b> </font></p> <p><font face="Arial, Helvetica, sans-serif">Since you are buying your Town house, all interest payments and taxes that you pay are deductible on your income tax return. </font></p> <p><font face="Arial, Helvetica, sans-serif"><b><font size="+1">grant deed.</font> </b></font></p> <p><font face="Arial, Helvetica, sans-serif">When you buy a Garden Isle Townhouse you receive a Grant Deed Your home is free and clear of any adjoining, attached townhouse. Your grant deed is recorded in your name to your lot with the improvements. You are completely free to sell your home without obligation to your neighbors. </font></p> <p><font face="Arial, Helvetica, sans-serif"><b><font size="+1">environment and recreation.</font></b> </font></p> <p><font face="Arial, Helvetica, sans-serif">Here, at Garden Isle amid sunflecked trees, you can stroll about on grounds that are tastefully landscaped and carefully maintained. Meandering paths manicured lawns and superb architecture all contribute to the quiet beauty of the community. A large beautiful clubhouse provides an ideal meeting place for bridge parties, private receptions or casual get togethers. Game tables, lounging chairs and fireplace complete the picture. For impromptu snacks or parties there's an all electric kitchen available for members. Outside, there's a kiddies' play area plus a huge swimming pool and sunbathing area for adults. </font></p> <p> </p> <p><font face="Arial, Helvetica, sans-serif"><b>Garden Isle Homeowners Association expenses during construction of living units and before the recreation center is completed.</b> </font></p> <table width="82%" border="1" height="356"> <tr> <td width="4%"><font face="Arial, Helvetica, sans-serif">1.</font></td> <td width="75%"><font face="Arial, Helvetica, sans-serif">Landscape maintenance </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$13.00 per month</font></div> </td> </tr> <tr> <td width="4%"><font face="Arial, Helvetica, sans-serif">2.</font></td> <td width="75%"><font face="Arial, Helvetica, sans-serif">Water to the individual living unit plus all outside landscape watering. </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$4.00 per month</font></div> </td> </tr> <tr> <td width="4%"><font face="Arial, Helvetica, sans-serif">3.</font></td> <td width="75%"><font face="Arial, Helvetica, sans-serif">Electricity for lighting of outside common area. </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$1.00 per month</font></div> </td> </tr> <tr> <td width="4%"><font face="Arial, Helvetica, sans-serif">4.</font></td> <td width="75%"><font face="Arial, Helvetica, sans-serif">Reserve for outside maintenance of buildings and common area (during construction). </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$2.50 per month</font></div> </td> </tr> <tr> <td width="4%"><font face="Arial, Helvetica, sans-serif">5.</font></td> <td width="75%"><font face="Arial, Helvetica, sans-serif">Fire insurance on individual units plus recreation center and liability insurance on the common area. </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$3.50 per month</font></div> </td> </tr> <tr> <td width="4%"><font face="Arial, Helvetica, sans-serif">6.</font></td> <td width="75%"><font face="Arial, Helvetica, sans-serif">Accounting preparation of tax returns. </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$1.50 per month</font></div> </td> </tr> <tr> <td width="4%"><font face="Arial, Helvetica, sans-serif">7.</font></td> <td width="75%"><font face="Arial, Helvetica, sans-serif">Common area taxes payable only until all living units are complete and all the common area is dedicated to the association </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$2.50 per month</font></div> </td> </tr> <tr> <td width="4%" height="7"><font face="Arial, Helvetica, sans-serif"></font></td> <td width="75%" height="7"> </td> <td width="21%" height="7"> <div align="center"><font face="Arial, Helvetica, sans-serif">--------------</font></div> </td> </tr> <tr> <td width="4%" height="56"><font face="Arial, Helvetica, sans-serif"></font></td> <td width="75%" height="56"><font face="Arial, Helvetica, sans-serif">Monthly assessment due on the first day of the month following escrow on the individual unit. </font></td> <td width="21%" height="56"> <div align="center"><font face="Arial, Helvetica, sans-serif">$28.00 per month</font></div> </td> </tr> </table> <p> </p> <p><font face="Arial, Helvetica, sans-serif"><b>Upon the completion of the recreation center the following expenses will be incurred. </b></font></p> <table width="83%" border="1"> <tr> <td width="5%"><font face="Arial, Helvetica, sans-serif">1.</font></td> <td width="74%"><font face="Arial, Helvetica, sans-serif">Managers salary. </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$2.41</font></div> </td> </tr> <tr> <td width="5%"><font face="Arial, Helvetica, sans-serif">2.</font></td> <td width="74%"><font face="Arial, Helvetica, sans-serif">Assistant managers salary for 4 months of the year. </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$0.46</font></div> </td> </tr> <tr> <td width="5%"><font face="Arial, Helvetica, sans-serif">3.</font></td> <td width="74%"><font face="Arial, Helvetica, sans-serif">Payroll costs.</font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$0.39</font></div> </td> </tr> <tr> <td width="5%"><font face="Arial, Helvetica, sans-serif">4.</font></td> <td width="74%"><font face="Arial, Helvetica, sans-serif">PG&E gas to heat the pool and recreation center. </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$1.06</font></div> </td> </tr> <tr> <td width="5%"><font face="Arial, Helvetica, sans-serif">5.</font></td> <td width="74%"><font face="Arial, Helvetica, sans-serif">Recreation center supplies. </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$0.26</font></div> </td> </tr> <tr> <td width="5%"><font face="Arial, Helvetica, sans-serif">6.</font></td> <td width="74%"><font face="Arial, Helvetica, sans-serif">Pool supplies </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$0.33</font></div> </td> </tr> <tr> <td width="5%"><font face="Arial, Helvetica, sans-serif">7.</font></td> <td width="74%"><font face="Arial, Helvetica, sans-serif">Accounting preparation of tax returns. </font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$0.00</font></div> </td> </tr> <tr> <td width="5%"><font face="Arial, Helvetica, sans-serif"></font></td> <td width="74%"><font face="Arial, Helvetica, sans-serif"></font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif"></font></div> </td> </tr> <tr> <td width="5%"><font face="Arial, Helvetica, sans-serif"></font></td> <td width="74%"><font face="Arial, Helvetica, sans-serif">Total</font></td> <td width="21%"> <div align="center"><font face="Arial, Helvetica, sans-serif">$4.91</font></div> </td> </tr> </table> <p> </p> <p><font face="Arial, Helvetica, sans-serif"><b>After completion of the recreation center </b></font></p> <p><font face="Arial, Helvetica, sans-serif">1. The common facility taxes will be included with the taxes of the individual units. After this transfer of assessment the outside unit maintenance fund would be increased to $5.00. </font></p> <p><font face="Arial, Helvetica, sans-serif">2. The monthly assessment will be $33.00 per month. </font></p> </body>