Oakbrook Condominium Association, Inc

OAKBROOK WALK CONDOMINIUM ASSOCIATION, INC. FREQUENTLY ASKED QUESTIONS & ANSWERS SHEET

Revised January 1, 2012

The statements contained herein are only summary in nature. A prospective purchaser should refer to all references, exhibits hereto, the Sales Contract and the condominium documents.

1) What are my voting rights in the condominium association? ANSWER: There are 168 units each with one vote. As of January 1, 2012 Oakbrook Walk, Ltd. owns 117 of the units.

2) What restrictions exist in the condominium documents on my right to use my unit? ANSWER: There are numerous restrictions (such as no pets, limits on number of people living in each unit, etc.) outlined in the condominium documents and attached Rules and Regulations. A careful reading of these documents is advised.

3) What restrictions exist in the condominium documents on the leasing of my unit? ANSWER: All of the restrictions applicable to your use as owner would apply to your tenant, and you as owner of a leased unit would be responsible to enforce the association restrictions, rules and regulations. The association shall have recourse against a unit owner for non- compliance.

4) How much are my assessments to the condominium association for my unit type and when are they due? ANSWER: Currently, monthly assessments due on or before the first of each month are $242 per month. This amount was last increased in January 2009 by $12.

5) Do I have to be a member in any other association? If so, how much are my assessments? ANSWER: There are no other associations or assessments.

6) Am I required to pay rent or land use fees for recreational or other commonly used facilities? If so, how much am I obligated to pay annually? ANSWER: No.

7) Is the condominium association or other mandatory membership association involved in any court cases in which it may face liability in excess of $100,000? If so, identify each such case. ANSWER: No, not as of this date.

8) How much money is in the reserve account for future roof replacement and similar capital repairs? ANSWER: About $80,957 or about $481 per unit as of 12/31/11. In December 2011, the members of the Association voted to fund an additional $14,400 in 2012.

NOTE: THE STATEMENTS CONTAINED HEREIN ARE ONLY SUMMARY IN NATURE. A PROSPECTIVE PURCHASER SHOULD REFER TO ALL REFERENCES, EXHIBITS HERETO, THE SALES CONTRACT, AND THE CONDOMINIUM DOCUMENTS.

(Oakbrook\Recurr\FrequentQuest&Answ)