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HomeMy WebLinkAboutTT 3953 HIGHWAY 74 INDIAN CREEK VILLAS 1982 R r � V RECEIVED DEPARTMENT OF REAL ESTATE .OF THE STATE OF CALIFORNIA APPP TELEPHONE NO. ( 213 ) 620-2700 ENVIRONMENTAL SERVICES CITY OF PALM DESERT In the matter of the application of FINAL SUBDIVISION PUBLIC REPORT DAVID SEYMOUR AND FILE NO. 30125 CHARLOTTE SEYMOUR ISSUED: FEBRUARY 24, 1971 for a Final Subdi ' i n-Public Report on 2ND. AMENDMENT TRACT NO. 3953 PHASE IV NOVEMBER 22 , 1977 "INDIAN CRE LAS" EXPIRES : JULY 4, 1982 RIVERSIDE COUNTY, CALIFORNIA This Report Is Not a Recommendation or Endorsement of the Subdivision But Is Informative Only. Buyer or Lessee Must Sign That He Has Received and Read This Report, This Report Expires on Date Shown Above. If There Has Been a Material Change in the Offering, an Amended Public Report Must Be Obtained and Used in Lieu of This Report. Section 35700 of the California Health and Safety Code provides that the practice of discrimination because of race, color, religion, sex, marital status, national origin or ancestry in housing accommodations is against public policy. Under Section 125.6 of the California Business and Professions Code, California real estate licensees are subject to disciplinary action by the heal Estate Commissioner if they make any discrimination, distinction or restriction in negotiating a sale or lease of real property because of the race, color, sex, religion, ancestry or national origin of the prospective buyer. If any prospective buyer or lessee believes that a licensee is guilty of such conduct, he or she should contact the Department of. Real Estate. Information Regarding Schools can be found on Page six of this Report . READ THE ENTIRE REPORT on the following pages before contracting to purchase a lot in this SUBDIVISION. R/E Form 618 10/76 COMMON INTEREST SUBDIVI£ GENERAL INFORMATION The project described in the attached Subdivision Public Report is known as a common- interest subdivision. Read the Public Report carefully for more information about the type of subdivision. The subdivision includes common areas and faci.' 1ties which will be owned and/or operated by an owners' association. Purchase of a lot or unit automatically entitles and obligates you as a member of the association and, in most cases, includes partial ownership of the facilities. Since membership in the asso- ciation is mandatory, you should be aware of the following information before you purchase: Your ownership in this development and your rights and remedies as a member of its association will be controlled by governing instruments which generally include a Declaration of Restrictions (also known as CC&R!s) , Articles of Incorporati(,n (or association) and Bylaws. The provisions of these documents are intended to be, and in most cases are, enforceable in a court of law. Study these documents carefully before entering into a contract to purchase a subdivision interest. In order to provide funds for operation and maintenance of the common facilities, the association will levy assessments against your lot/unit. The right to do this may be enforced through court .proceedings, or your lot/unit may be liened and sold through the exercise of a power of sale if you are delinquent in the payment of assessments. The anticipated income and expenses of the association, including the amount that you may expect to pay through assessments, are outlined in the proposed budget. Ask to see a copy of the budget if the subdivider has .not already made it available for your examination. A homeowner association provides a vehicle for the ownership and use of recreational and other common facilities which were designed to attract you to buy in this subdi- vision. The association also provides a means to accomplish architectural control and to provide a base for homeowner interaction on a variety of issues. The pur- chaser of an interest in a common-interest subdivision should contemplate active participation in the affairs of the association. He or she should be willing to serve on the board of directors or on committees created by the board. In short, "they" in a common-interest subdivision is you. Unless you serve as a member of the governing board or on a committee appointed by the board, your control of the operation of the common areas and facilities is limited to your vote as a member of the association. There are actions that can be taken by the governing body without a vote of the members of the association which can have a significant impact upon the quality of life for association members. Until there are a sufficient number of purchasers of lots or units in a common- interest subdivision to elect a majority of the governing body, it is likely that the subdivider will effectively control the affairs of the association. It is frequently necessary and equitable that the subdivider do so during the early stages of development. It is .vitally important to the owners of individual subdivi- sion interests that the transition from subdivider to resident-owner control be accomplished in an orderly manner and in a spirit of cooperation. In contemplating the purchase of a dwelling in a common-interest subdivision, you should consider factors beyond the attractiveness of the dwelling units themselves. Study the governing instruments and give careful thought to whether you will be able to exist happily in an atmosphere of cooperative living where the interests of the group must be taken into account as well as the interests of the individual. Remem- ber that managing a common-interest subdivision is very much like governing a small community. It could serve you well, but you will have to work for its success. R/E FORM 646 -2- of 6 pages FILE NO. 30125 10-12-77• (2nd Amended) SPECIAL NOTES THIS AMENDED REPORT COVERS ONLY UNITS 1 THROUGH 4 OF LOT 65 OF TRACT 3953. THIS PROJECT IS A COMMON INTEREST SUBDIVISION OF THE TYPE REFERRED TO AS A CONDOMINIUM. IT WILL BE OPERATED BY AN INCORPORATED OWNERS ' ASSOCIATION. THE ASSOCIATION HAS THE RIGHT TO LEVY ASSESSMENTS AGAINST YOU FOR MAINTENANCE OF THE COMMON AREAS AND OTHER PURPOSES. YOUR CONTROL OF OPERATIONS AND EXPENSES IS LIMITED TO . THE RIGHT OF YOUR ELECTED REPRESEN- TATIVES TO VOTE ON CERTAIN PROVISIONS AT MEETINGS . THE SUBDIVIDER HAS STATED THAT HE WILL PROVIDE YOU WITH A COPY OF ARTICLES OF INCORPORATION, RESTRICTIONS AND BYLAWS , BY POSTING THEM IN A PROMINENT LOCATION IN THE SALES OFFICE AND BY FURNISHING YOU COPIES PRIOR TO CLOSE OF ESCROW. THESE DOCUMENTS CONTAIN NUMEROUS MATERIAL PROVISIONS THAT SUBSTAN= TIALLY AFFECT AND CONTROL YOUR RIGHTS , PRIVILEGES, USE, OBLIGATIONS , AND COSTS OF MAINTENANCE AND OPERATION. YOU SHOULD READ AND UNDERSTAND THESE DOCUMENTS BEFORE YOU OBLIGATE YOURSELF TO PURCHASE A UNIT. THE SUBDIVIDER .STATED THE CURRENT BOARD OF OFFICERS OF THE. HOMEOWNER ASSOCIATION HAVE BEEN FURNISHED THE BUILDING PLANS , INCLUDING DIAGRAMS OF LOCATION OF MAJOR COMPONENTS., UTILITIES AND RELATED DATA. THESE ITEMS WILL BE IMPORTANT TO THE BOARD OF OFFICERS OR THOSE WHO WILL MANAGE OR REPAIR COMMON FACIL- ITIES IN THIS SUBDIVISION. THE SUBDIVIDER OF THIS PROJECT HAS INDICATED THAT HE INTENDS TO SELL ALL OF THE UNITS IN THIS PROJECT. HOWEVER, ANY OWNER, INCLUDING THE SUBDIVIDER, HAS A LEGAL RIGHT TO LEASE THE . UNITS . THE PROSPECTIVE PURCHASERS SHOULD CONSIDER THE POSSIBLE EFFECTS ON THE DEVELOPMENT IF A SUBSTANTIAL PORTION OF THE UNITS BECOME RENTAL PROPERTIES . IF YOU PURCHASE TWO OR MORE UNITS , THE SELLER IS REQUIRED TO NOTIFY THE REAL. ESTATE COMMISSIONER OF THE SALE. IF YOU INTEND TO SELL A UNIT OR LEASE A UNIT FOR MORE THAN ONE YEAR, YOU ARE REQUIRED TO OBTAIN AN AMENDED SUBDIVISION PUBLIC REPORT BEFORE YOU CAN OFFER THE UNITS FOR SALE OR LEASE. THIS IS THE FOURTH AND FINAL INCREMENT OF A PROJECT CONSISTING OF 88 BUILDINGS , WHICH CONTAIN 352 UNITS . WARNING : WHEN YOU SELL YOUR CONDOMINIUM UNIT TO SOMEONE ELSE, YOU MUST GIVE THAT PERSON A COPY OF . THE DECLARATION RESTRICTIONS , THE ARTICLES OF -3- of 6 pages FILE NO. 30125 ( 2nd Amended) v 6 i INCORPORATION AND THE BYLAWS . IF YOU FORGET TO DO THIS , IT MAY COST YOU A PENALTY OF $500. 00 , PLUS ATTORNEY' S FEES, PLUS DAMAGES. (SEE CIVIL CODE SECTION 1360. ) INTERESTS TO BE CONVEYED: You will receive fee title to a specified unit., together with an undivided 1/4 fee interest as a tenant in common in the common area of the lot on which your unit is located. You will also receive an undivided 1/32nd fractional fee interest as a tenant in common in common area Lots 26 and 51 , together with a membership in the Indian Creek .Villas Homeowners ' Association. LOCATION AND SIZE: In the Palm Desert area of Riverside County. Approximately four acres on which 14 buildings containing 56 units and 56 carports and 56 parking spaces have been constructed, including common area Lots 26 and 51 , on which has been constructed two pools , with pool-house buildings . MANAGEMENT AND OPERATION: The Indian Creek Villas Homeowners ' Association, w is you must join, manages and operates the common area( s ) in_ accordance with the Restrictions, Articles of Incorporation and the Bylaws . It includes, among others, provisions which have the following effect : You will be notified of the time and the place of any meeting. You have one vote for each unit you own. You may cumulate your votes for electing or removing Directors . At lease a majority of the voting power shall prevail at all meetings , and the presence, in person or by proxy , of owners holding 51% of the voting power shall constitute a quorum for the transaction of business . The provisions of any documents relating to management and operation may not be amended without the vote or written approval of at least . 75% of the total voting interest of all condominiums in the project , the approval -of mortgagees representing at least 75% of the total record value of all first mortgages affecting the project and, under certain conditions, the approval of the Federal Housing Commissioner. The Board of Directors , among other things , may : Enforce the Restrictions , Bylaws and other rules , pay for insurance , supplies, services and the like out of the main- tenance fund. Delegate its power to others . -4- of 6 pages FILE NO. 30125 ( 2nd Amended) Enter your unit when necessary for maintenance . Sell the entire project for the benefit of all owners if the owners have voted not to rebuild in the event of destruction of part of all of the improvements . The accounts of the association are subject to an annual independent audit. You will receive a copy . MAINTENANCE AND OPERATIONAL EXPENSES : The homeowners association has sou -mitte a u get tor the maintenance and operation of the common areas . You should obtain a copy of this budget from the subdivider. Under this budget, the monthly assessments against each subdivision unit will be $45 .00, for the 1976/77 period . The association may increase or decrease assessments at any time in accordance with the procedure prescribed .in the CC&Rs or Bylaws . .In considering the advisability of a decrease in assessments , care should be taken not to eliminate amounts attributable to reserves for replacement or major maintenance . EASEMENTS : Easements for utilities , pole lines and other purposes are shown on the title report and subdivision map recorded in the Office of the Riverside County Recorder, Book 66 , Pages 59 and 60 of 'Maps, and in the recorded Declaration of Restrictions . RESTRICTIONS : This subdivision is subject to restrictions recorded in the 0 ice of the Riverside County Recorder, October 2.6 , 1970, as Instrument No. 107569 ; modified and amended January 15 , 1971 , as Instrument Nos . 4324 'and 4325 ; and on January 27, 1971 , as Instrument Nos . 8184 and 8185 . TAX ESTIMATES : If the subdivider is unable to give you the current tax information, you may approximate your taxes as follows : TAKE 25% OF THE SALES PRICE , DIVIDE BY 100, AND THEN MULTIPLY BY THE TOTAL TAX RATE. -THE TAX RATE FOR THE 1977/78 FISCAL YEAR IS $10. 1120. THE TAX RATE AND ASSESSED VALUATION MAY CHANGE IN SUBSEQUENT YEARS . FOR EXAMPLE, ANY BONDED DEBT OR SPECIAL DISTRICT ASSESSMENT APPROVED AFTER THE ABOVE TAX RATE HAD BEEN SET COULD INCREASE THE FUTURE RATE. PURCHASE MONEY HANDLING : The subdivider must impound all funds received rod m you in an escrow depository until legal title is delivered to you. (Ref. Sections 11013 , 11013 . 2 (a) , Business and Professions Code. ) FILLED GROUND: Some lots contain filled ground varying to a maximum depth of 2 . 8 feet . These soils were properly compacted for the intended use under the supervision of a state licensed engineer. -5- of 6 pages FILE NO. 30125 (2nd Amended) FIRE PROTECTION: Fire protection furnished by State of California Division of Forestry . SEWAGE DISPOSAL: Septic tanks will be used for sewage disposal . PUBLIC TRANSPORTATION: not available . SCHOOLS : The Desert Sands Unified School District advises that the o� cat on and distance from the most distant lot in the tract to the nearest schools serving 'this tract are as follows : Washington Elementary (K-2) , 45-768 Portola, 1-3/4 miles ; Lincoln Elementary ( 3-5 ) , 74100 Rutledge Way, 3 .0 miles ; Palm Desert Middle ( 6-8 ) , 74-100 Rutledge Way, 3 .0 miles ; Indio High ( 9-12 ) , 81-750 Avenue 46 , 10. 5 miles . School bus transportation is furnished to the above-mentioned schools . There is no charge to the students . NOTE: This school information was provided by the school district prior to issuance of the public report. Purchasers may contact the local school district offices for any changes in school assignments , facilities and bus .service . For further information in regard to this subdivision, you may call (213 ) 620-2700, or examine the documents at the Department of Real Estate, 107 South Broadway, Room 7001 , Los Angeles , California 90012 . WPW/klm -6- and last FILE NO. 30125 (2nd .Amended)