Island Village Condominium Association, Inc.

c/o Reconcilable Differences, Inc.

109 Long Point Road

Cape Canaveral, FL 32920

321-799-0660

Fax: 321-799-0630

www.ReconcilableDifferences.net

FREQUENTLY ASKED QUESTIONS AND ANSWER SHEET

PHYSICAL ADDRESS:                                  2135 North Courtenay Pkwy. Merritt Island, FL 32953                                          

NUMBER OF BUILDINGS:                           6 buildings (16 units in each bldg except “E” which also houses the clubhouse)

NUMBER OF UNITS:                                    93

DATE ASSOCIATION WAS FORMED:       January 29, 1975

MAINTENANCE FEES for 2007:                  1 Bedroom Units:         $246.00 per month

                                                                        2 Bedroom Units:         $306.00 per month

                                                                        3 Bedroom Units:         $370.00 per month

AMENITIES:                                                   Pool, tennis court, 9-hole practice golf course, shuffleboard, storage yard for RV’s and boats/trailers

VOTING RIGHTS:                                         One vote per condominium unit owned as provided in   Article II of the Bylaws.

Mandatory Membership in Association:            No Master Association

BOARD MEMBERS:                                      Executive Board consists of 9 Directors

LEASING RESTRICTIONS:  Article VI of the Declaration of Condominiums, USE RESTRICTIONS, #3 states, ”With prior approval by the Association, an apartment may be rented for minimum of three (3) months, however, no room may be rented and no transient may be accommodated.”

INSURANCE AGENCY/AGENT:                  Josh Ranew, Ranew Insurance Agency (321) 722-2338

UTILITIES PAID BY ASSOCIATION:          Water, Sewer, Cable, Trash Removal, Outdoor Electricity.

PET RESTRICTION:  Article VI, Use Restrictions, J. States, “No unit owner, resident, tenant or guest shall allow an animal to be brought, kept or maintained in any unit or on the common elements, except for cats, small birds, or aquatic fish. ‘Small birds’ shall exclude parrots, macaws and the like, and no bird shall be allowed to be a nuisance or annoyance to other residents. No more than two (2) cats may be kept or maintained in a unit, and all cats must be kept inside the unit at all times. Dogs are prohibited…

 MAINTENANCE & REPAIR: Article IX: Owners may maintain the floor of the patios and balconies. Windows, sliding glass doors, plate glass installation and screening are part of the common property but ordinary maintenance shall be performed by each unit owner at his own cost and expense. Each unit owner at his own cost and expense shall also perform replacement of all such installation when due to obsolescence, deterioration or breakage.

 HURRICANE SHUTTER SPECIFICATIONS:         

Shutters shall be any of the following types: Rolldown, Accordian or Storm Panels, color white, and  of non-rusting materials.

 RIGHT OF FIRST REFUSAL: Article XVII states, “With the exception of transfers of ownership of any apartment by one spouse to another or to a relative of the same, the Association is hereby granted the right of first refusal to lease, rent, sub-let, or purchase the apartment in question. The proposed transaction (I.e.) sale, lease, etc, must be submitted to the Association in writing. The Association’s acceptance or rejection must also be in writing and certified mail or hand delivered to the owner or to his legal representative within fourteen (14) days from the date of receipt of the bona fide offer.

 The ANNUAL MEMBERS’ MEETING shall be held at 7:00 p.m. on the first Tuesday of December of each year.  (Article II of the Bylaws)

THIS IS A “55 AND OVER” COMMUNITY: At least one of the residents in each unit must be age 55 or over. All residents must provide proof of age before move-in.

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