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PLAZA EAST ASSOCIATION
FREQUENTLY ASKED QUESTION AND ANSWER SHEET

Q. What are my voting rights in the Condominium Association?
A. The owner of an apartment are members of the Association and entitled to cast one, two or three votes for each apartment owned by them. The number of votes allowed to be cast depends on the alphabetic designation given to the Apartment. If an Apartment is owned by more than one person, a certificate designating the authorized voters must be filed with the secretary of the Association in order for the owners to exercise their voting rights. See Bylaws at Article II, Section E, and amended Article XI, Paragraph 3 of the Declaration.

Q. What restrictions exist in the condominium documents on my right to use my unit?
A. There are numerous restrictions on your right to use your Apartment which found in the Condominium Documents. Among these are restrictions on: residential use; number of persons occupying an Apartment; alterations; pets; parking; guests; sales; leasing; the creating of nuisances and the displaying of signs. Please see the Condominium Documents for further information, and in particular, Articles V, X, XI and XII of the Declaration, and all of the Rules and Regulations adopted by the Association.

Q. What restrictions exist in the Condominium Documents on the leasing of my unit?
A. Prior approval of all leases is required. The character of our building is residential in nature for the owner of apartments. Proposed leases will only be approved under exceptional circumstances and in no event will an owner be permitted to acquire title to a condominium unit where it is intended, at the time, or shortly thereafter, that the apartment will be leased. No rooms in an Apartment may be separately rented and no garage parking spaces may be rented to another Apartment Owner and no transients may be accommodated. Please see the Condominium Documents for the further details, and in particular, refer to Articles X and XI of the Declaration and the Rules of the Association.

Q. How much are my assessments to the condominium for my unit type and when are they due?
A. The amount of your assessment depends on the type of Apartment and the percentage interest in the common elements and common expenses assigned by the Declaration to your unit. Your assessment is paid quarterly, and payments are due on the first day of the quarter. Special Assessments may be levied by vote to the Board of Directors of the Association, form time to time if required, including assessments to supplement reserves. The current assessment for your unit___*__ is $_____*____ quarterly. *See chart of assessments as attached hereto for information.

Q. Do I have to be a member in any other Association? If so, what is the name of the Association and what are my voting rights in the Association? Also, how much are my assessments?
A. No.

Q. Am I required to pay net 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 Condominium Association or other mandatory membership association involved in any court cases in which it may face liability in excess of $100,000.00?
A. No.

Note: The statements contained herein are only summary in nature and is a guide only. A prospective purchaser should refer to all references, exhibits hereto, the sales contract, and the Condominium Documents. The purchaser should rely upon advice of counsel as to legal rights.

Rev. 02/05