MONTGOMERY COUNTY

5485

(1) COPY OF THE PROJECTED ANNUAL OPERATING
BUDGET FOR THE CONDOMINIUM INCLUDING, BUT NOT LIMITED TO,
THE FOLLOWING:

I) OPERATIONAL COSTS

         UTILITIES

HEATING FUELS

JANITORIAL SERVICES

TRASH AND GARBAGE DISPOSAL

GROUND AND BUILDING MAINTENANCE

SECURITY

MAINTENANCE AND OPERATION OF

RECREATIONAL AND OTHER FACILITIES
ANSWERING SERVICE
OTHER OPERATING COSTS

II)         MANAGEMENT COSTS

LEGAL AND ACCOUNTING SERVICES
BOOKKEEPING SERVICES
MANAGEMENT FEES
OTHER MANAGEMENT COSTS

III)      FIXED COSTS

BUILDING INSURANCE

ELEVATOR MAINTENANCE

SIDEWALKS AND STREET MAINTENANCE

OTHER FIXED COSTS

IV)         RESERVE COSTS

RESERVE FOR UNEXPECTED REPAIR WORK

RESERVE FOR REPLACEMENT AND UPKEEP
OF COMMON AREA AND FACILITIES
INCLUDING BASIS UPON WHICH
RESERVES ARE CALCULATED

RESERVES FOR IMPROVEMENTS

OTHER RESERVE FUNDS

IF NO RESERVE IS PROVIDED FOR ANY
ONE OR MORE OF THE COSTS LISTED IN
THIS ITEM, THE FOLLOWING STATEMENT
MUST BE INSERTED IN THE PROPERTY
REPORT: "THE DEVELOPER HAS NOT
PROVIDED A RESERVE FOR CERTAIN
POSSIBLE FUTURE COSTS OF THE
CONDOMINIUM IN HIS BUDGET.

ACCORDINGLY, IT MAY BE NECESSARY
TO PROVIDE FOR A SPECIAL

ASSESSMENT TO ALL CONDOMINIUM UNIT
OWNERS TO PAY FOR SUCH COSTS
SHOULD THEY OCCUR."

G.          IN THE CASE OF A CONVERSION FROM RENTAL OR

OTHER LEGAL STATES TO CONDOMINIUM, A REPORT FROM A
QUALIFIED LICENSED ENGINEER OR OTHER QUALIFIED