How is the initial $400 initiation fee divided between Arbor Walk and Abbott Glen Homeowners Association (HOA)?
In the Arbor View website, www.arborwalkhoa.org, under Documents-Legal / Arbor Walk – Abbott Glen – Cost Sharing agreement, under Section 4 there is the following text…. Section 4. One-Time Reserve Contribution. Simultaneously with the first transfer of title that results in a Lot subject to the Arbor Walk Declaration becoming an Improved Lot, the purchaser shall pay a one-time Reserve Contribution fee to Abbott’s Glen in the amount of One Hundred Fifty Dollars and 00/100 ($150.00.). The Reserve Contribution shall be the obligation of Arbor Walk who shall bear responsibility for insuring that the Reserve Contribution is paid to Abbott’s Glen upon the initial closing of each Lot subject to the Arbor Walk Declaration. The Reserve Contribution shall be deposited by Abbott’s Glen in its capital reserve account and be used to maintain and repair the Recreational Facilities on the Recreational Facility Easement. Therefore of the $400 initiation fee, $150 goes to Abbott’s Glen HOA and the r
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