FREQUENTLY ASKED QUESTIONS & ANSWERS FOR COOPERATIVE ASSOCIATIONS
BURNT STORE COLONY RO ASSOCIATION, INC.
1. Q. What are my voting rights in the cooperative association?
A. A Shareholder is entitled to one (1) vote per Membership Certificate
2. Q. What restrictions exist in the cooperative documents on my right to use my unit?
A. The right of occupancy of the unit is restricted to use as a residential dwelling. See Paragraph 16
of the Master Occupancy Agreement which is located in the Shareholder Prospectus.
3. Q. What restrictions exist in the cooperative documents on the leasing of my unit?
A. Leasing of the cooperative unit is restricted under Paragraph 17 of the Master Occupancy Agreement.
4. Q. How much are my assessments to the cooperative association for my unit type? When are they due?
A. The fiscal year 2025 assessment is $272.00 and is due on the first day of each month.
5. 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 this association? Also, how much are my assessments?
A. No membership in any other association is available or required.
6. Q. Am I required to pay rent or land use fees for recreational or other commonly used facilities?
If so, how much am I obligated to pay annually?
A. There is no requirement to pay rent or land use fees for recreational or other commonly used facilities.
7. Q. Is the cooperative association or other mandatory membership association involved in any court cases
in which it may face liability in excess of $100,000.00? If so, identify each case.
A. No.
8. Q. What is included in the monthly assessments?
A. 1. Mowing of the grass in all common areas and around homes.
2. Taxes and insurance on all Cooperative owned property and facilities.
3. Utilities on all Cooperative owned property and facilites.
4. Trimming and care of trees in all common areas.
5. High speed internet access and Wi-Fi (you purchase the required antenna)
6. Electronically controlled access gates.
7. Maintenance of streets, curbs and sidewalks.
8. Five ponds with fountains.
9. Large contemporary swimming pool and hot tub.
10. Regular maintenance of the swimming pool and hot tub.
11. Tennis, pickle ball courts, bocce ball, horseshoes, shuffleboard, golf net and a pet run.
12. Clubhouse with dining hall, kitchen, library, workout room, ping pong and pool tables.
13. Banquet hall with commercial kitchen and a new overhead projector.
14. Management Company which provides office staff and park manager.
15. Accounting and Legal Service.
Click Here to see a more complete description of all the facilities.
NOTE: The statements contained herein are only summary in nature. A prospective purchaser should refer to all references, exhibits hereto, the sales contract and cooperative documents.