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COMMON INTEREST DEVELOPMENT GENERAL INFORMATION The project described in the attached Subdivision A homeowner association provides a vehicle for Public Report is known as a common-interest the ownership and use of recreational and other development. Read the Public Report carefully for common facilities which were designed to attract more information about the type of development. you to buy in this development. The association The development includes common areas and also provides a means to accomplish architectural facilities which will be owned and/or operated by control and to provide a base for homeowner an owners' association. Purchase of a lot or unit interaction on a variety of issues. The purchaser of automatically entitles and obligates you as a an interest in a common-interest development member of the association and, in most cases, should contemplate active participation in the includes a beneficial interest in the areas and affairs of the association. He or she should be facilities. Since membership in the association is willing to serve on the board of directors or on mandatory, you should be aware of the following committees created by the board. In short, 'they' in information before you purchase: a common interest development is 'you'. Unless you serve as a member of the governing board or on a committee apointed by the board, your control Your ownership in this development and your of the operation of the common areas and facilities rights and remedies as a member of its association is limited to your vote as a member of the will be controlled by governing instruments which association. There are actions that can be taken by generally include a Declaration of Restrictions (also the governing body without a vote of the members known as CC&R's), Articles of Incorporation (or of the association which can have a significant association) and bylaws. The provisions of these impact upon the quality of life for association documents are intended to be, and in most cases members. are, enforceable in a court of law. Study these documents carefully before entering into a contract to purchase a subdivision interest. Until there is a sufficient number of purchasers of lots or units in a common interest devolopment to In order to Ovide funds for operation and elect a majority of the governing body, it is likely pr P that the subdivider will effectively control the affairs maintenance of the common facilities, the of the association. It is frequently necessary and association will levy assessments against your lot equitable that the subdivider do so during the early or unit. If you are delinquent in the payment of stages of development. It is vitally important to the assessments, the association may enforce payment owners of individual subdivision interests that the through court proceedings or your lot or unit may transition from subdivider to resident-owner control be liened and sold through the exercise of a power be accomplished in an orderly manner and in a of sale. The anticipated income and expenses of spirit of cooperation. the association, including the amount that you may expect to pay through assessments, are outlined in the proposed budget Ask to see a copy of the budget if the subdivider has not already made it When contemplating the purchase of a dwelling available for your examination. in a common interest development, you should consider factors beyond the attractiveness of the dwelling units themselves. Study the governing %,, CALIFORNIA instruments and give careful thought to whether you will be able to exist happily in an atmosphere PARTMENT of cooperative living where the interests of the group must be taken into account as well as the OF REAL ESTATE interests of the individual. Remember that managing a common interest development is very much like governing a small community . . . the management can serve you well, but you will have to work for its success. [B & P Code Section 11018.1(c)] RE 646 (Rev. 2(86) Page 2 of 10 File No. 024024SA—F00