Exhibit C – Notice to Buyers

To the Purchasers of Lots in University Estates, Athens County, Ohio:
YOU ARE HEREBY NOTIFIED that the purchase of your Lot is subject to:

  1. The Declaration of Covenants, Conditions and Restrictions for University Estates, as amended (the “Declaration”), Public Records of Athens County, Ohio, as amended and supplemented from time to time, copies of which shall be provided upon execution of your contract to purchase.
  2. Ownership of a Lot in said Neighborhood automatically makes you a member of University Estates Home Owners Association, Inc., and you are subject to its Bylaws and Regulations. Each Lot entitles its Owner to one vote in the affairs of the Association.
  3. The Association has the right and power to assess and collect assessments, as provided in its Bylaws, for, among other things, the costs of maintenance and operation of the Common Property, which you have a right to enjoy, in accordance with said Restrictions, as well as Lot maintenance services which may be provided at the discretion of the Developer, and after the Turnover Date, of the Association. A copy of the proposed budget for the first year of operations is attached hereto.
  4. The initial proposed annual assessment by the Association for the year running from 2005 through 2006 is as follows:
    Lot Type Assessment
    Executive $225
    Family Lot
    Single Family
    Single Family
    Patio Home

    You are hereby notified that the Association may increase that amount as may be required to maintain the amenities of the Neighborhood. The Board may, in its discretion, require each Lot Owner who acquires his Lot directly from Developer to pay to the Association a one-time contribution (the “Capital Contribution”) to be used by the Association solely for the payment of Association Expenses. The amount of the Capital Contribution shall be as determined by the Board, but shall not exceed the then applicable Annual Assessment.
    Editor’s Note: The per lot assessment for 2018 was $125 and for 2019 is $225. (11/14/2018)

  5. All property within the Neighborhood is subject to the terms of the by laws, as said by laws may be amended from time to time. The Association will construct, operate and maintain certain improvements and facilities, including some within the Neighborhood and imposes (or will impose) taxes or assessments or both on property located therein. These taxes and/or assessments pay the debt service on the bonds and other costs associated with the construction, operation and maintenance of the improvements and facilities of the association and are set annually by the governing Board of the Association. These taxes and assessments are in addition to County and all other taxes and assessments provided for by law and the assessments provided for herein. Each Owner shall be responsible to pay the Association taxes and assessments as to the Lot(s) owned by such Owner.
  6. The Owner of each Lot shall be responsible for the planting and maintenance of replacement trees on such Lot as required by Athens County or City ordinances or regulations set forth by the Association.
  7. It shall be the responsibility of each Owner at the time of construction of a building, residence or structure, to comply with the requirements, if any, of the Athens City or County Public Works Department to have the ability to connect into any system for reclaimed effluent irrigation which may be installed in the future.
  8. Developer, and after the Turnover Date, the Association, in their discretion may elect that the Association provide from time to time certain Lot maintenance services, such as by way of example, mowing, fertilizing, yard pest control tree trimming, landscape maintenance or other similar services (“Maintenance Services”) for certain Lot Types. Developer, and after the Turnover Date, the Association, shall have the discretion of implementing such services on an optional or mandatory basis for each Lot Type for the services elected to be provided. Each Owner shall be obligated to pay its respective share of the monthly service charges and other costs and expenses of the Association in providing such Maintenance Services, which service charges, costs and expenses are hereby deemed to be Association Expenses, and which shall be assessed and collected from the Owners in accordance with the provisions of the Declaration. Such Maintenance Services shall be provided and may be discontinued at the discretion of the Developer, and after the Turnover Date, by the Association.
  9. The foregoing statements are only summary in nature and shall not be deemed to supersede or modify the provisions of the Declaration, or any Lot sales contract between Buyer and Developer.