1. AS A PURCHASER OF PROPERTY IN THIS COMMUNITY, YOU WILL BE OBLIGATED TO BE A MEMBER OF A HOMEOWNERS’ ASSOCIATION.
2. THERE HAVE BEEN OR WILL BE RECORDED RESTRICTIVE COVENANTS GOVERNING THE USE AND OCCUPANCY OF PROPERTIES IN THIS COMMUNITY.
3. YOU WILL BE OBLIGATED TO PAY ASSESSMENTS TO THE ASSOCIATION, WHICH ASSESSMENTS ARE SUBJECT TO PERIODIC CHANGE.
4. YOUR FAILURE TO PAY THESE ASSESSMENTS COULD RESULT IN A LIEN ON YOUR PROPERTY.
5. THERE IS NOT AN OBLIGATION TO PAY RENT OR LAND USE FEES FOR RECREATIONAL OR OTHER COMMONLY USED FACILITIES AS AN OBLIGATION OF MEMBERSHIP IN THE HOMEOWNERS’ ASSOCIATION.
6. THE RESTRICTIVE COVENANTS CAN BE AMENDED WITHOUT THE APPROVAL OF THE ASSOCIATION MEMBERSHIP.
7. THE STATEMENTS CONTAINED IN THIS DISCLOSURE FORM ARE ONLY SUMMARY IN NATURE, AND, AS A PROSPECTIVE PURCHASER, YOU SHOULD REFER TO THE COVENANTS AND THE ASSOCIATION GOVERNING DOCUMENTS.
8. THESE DOCUMENTS ARE NOT YET MATTERS OF PUBLIC RECORD AND A COPY WILL BE OBTAINABLE FROM THE DEVELOPER PRIOR TO RECORDING AND SUBSEQUENT TO RECORDING IN THE RECORD OFFICE IN THE COUNTY WHERE THE PROPERTY IS LOCATED
3. If Purchaser signs a Purchase Agreement, the Deposit shall be applied as part of the earnest money to be delivered by Purchaser under the Purchase Agreement.
4. Purchaser may, at any time prior to receiving the Purchase Agreement, request return of the Deposit and, upon such request, the Deposit shall be returned promptly to Purchaser, whereupon Purchaser and Seller shall be released from all liability hereunder.
5. The Deposit shall be held by Seller and returned or applied hereunder without payment of interest to Purchaser.
6. Delivery of documents or notices hereunder shall be deemed complete when the same shall have been delivered in person or deposited with United Parcel Service (UPS) or with the United States Postal Service, postage prepaid, certified return receipt requested.
7. This Agreement may not be assigned by Purchaser.
8. This Agreement shall terminate upon the first to occur of the following: (1) when merged into a fully-signed Purchase Agreement for the Lot set forth above or (2) receipt notice of purchaser to Signature H or termination.
9. Purchaser acknowledges that this Nonbinding Reservation Agreement is not a Purchase Agreement and does not obligate either Purchaser or Seller to enter into a Purchase Agreement on any specific terms.