Sussex Square  

Garage Roof Replacement Update

Work Complete

The contractor has completed all roofing work and window panel replacement will be started during the constuction season of 2006. 

Special Assessment

The Board of Managers at a meeting held on April 14, 2003 has approved a special assessment in the amount of $60,000.00 to be levied against all unit owners of record as of March 20, 2003. The purpose of the assessment is to install 18 new garage roofs.

The project will be financed as follows:

$86,040.00 Estimated cost of garage roof replacement

-60,000.00       Special assessment

$26,040.00 Capital reserve funds

To meet the this requirement, each owner will be assessed $1,500.00, due in full on June 1, 2003. To assist owners in their financial planning, this assessment is payable in either of the following ways:

• A single payment of $1,500.00 payable on or before June 1, 2003.
  
• Twenty Four (24) payments of $70.00 payable on the first day of June, 2003 through May, 2005.
  

Should you sell or transfer the title of your condominium unit, the entire remaining balance shall be due and payable.