Antigonish Condominiums Inc. General Information

Condominium living is something relatively new to Antigonish, but not to Nova Scotia or Canada. For more information about condominiums check out the Canadian Condominium Institute at www.cciatlantic.ca. The concept of condominium ownership is that you own everything within the interior of your unit and share the use of the common elements. All the exterior areas and the building exterior are referred to as common elements and this area is a shared area owned by all of the unit owners and administered by the condominium corporation. The responsibility for the maintenance and the conduct inside the units is the individual unit owners. A condominium fee is paid on a monthly basis toward the cost of the common element maintenance. This fee is originally set by the condominium developer based on a budget and can be adjusted by the Board of Directors. The Board of Directors for this condominium project will be condominium owners themselves. The proposed fee for this project is $99/month which includes building insurance!

The declaration bylaws and common element rules are established for the condominium corporation by ACI. These documents in many cases are somewhat generic. Many developers fail to recognize that each project is unique. Extra care was taken to ensure these documents fit the needs of this project. Condominium documentation must be approved by a Provincial Government office. This is an office specializing in the registration and inspection of condominiums. The Condominium Act of Nova Scotia also guides the way in which the documentation is developed. The documentation exists for the protection of each individual occupant of the premises. All condominium documentation will be presented to any individual interested in purchasing a unit to ensure they may review them on a timely basis and be comfortable with the concept before closing the purchase. If a sale does not take place, it is requested the documents be returned.

The outside of the buildings has enhanced trim detail as can be seen from the enclosed pictures and architectural drawing. This will serve to enhance the visual impact of the building and gives the building a strong curbside appeal and strong resale potential.

The windows are "Atlantic Windows". These are quality windows with a lifetime warranty. The vinyl construction allows for years of maintenance free operation and they are the Low E Argon type glass to provide the maximum energy efficiency available in the window. The siding is of a high quality vinyl nature, again, providing many years or maintenance free service. This helps to reduce monthly condo fees paid by unit holders.

Any decking is of a wolmanized pressure treated type. It is left natural. This will provide the maximum years of service and the minimum level of maintenance.

The roof has quality 25 year shingles that are a good long-lasting shingle and the shingle will be of a traditional black slate color.

The plans show private space at the rear of each unit. The size of the patio areas vary slightly. A privacy fence has been put on the sides of the top deck. This is an important part of the project because it gives the owner a private outdoor space to socialize, sit and relax, or barbeque. This space and the deck door to the area makes this project unique from other condos which have common hallways and resemble apartment style living.

The type of heat is electric. Electric heat is very efficient in this type of construction and power is more stable in pricing than oil. This is because the main level units’ ceiling is heated by the upper level unit while the upper level floor unit has its floor heated by the main level unit. The ground level units will be heating three exterior walls. Further, the units will be outfitted with high-end, high efficiency electronic thermostats in the daily living spaces. These thermostats provide superior heat control which minimizes the on and off occurrences with electric heat and helps to reduce the cost and keeps an even heat. All ceilings will exceed traditional R-values with R50 blown cellulose insulation. In consultation with Energy Builders Inc., these condo units will have many other energy efficient construction details. These details will minimize any heat loss by paying detailed attention to the “building envelope”.

A few examples:

         * The exterior walls will exceed the recent traditional requirements of
              most buildings by 30% by having an exterior wall of R26. This was
              achieved by applying “Enerfoil”^TM to the full exterior of the building,
              covering the basement box header with Enerfoil which is sometimes
              difficult to insulate from the inside.

         *    Foam Sill Gasket on top of foundation wall; Low E Argon superior
              energy efficient windows;

         *    Applying insulated spray foam around all windows and at the base of
              the exterior walls;

       *    Attic blown insulation at R50 (typical has been R40) which is superior in
               the attic compared to fiberglass pink batts;

         *    Insulation under key areas of basement floor

.
Etc..

All the inside trim was upgraded with an MDF product. This is an extremely attractive trim and will serve to enhance the visual impact within the home (see photo gallery). The baseboard is of a similar product type and will also provide an enhancement to the premises. Ceiling crown mouldings was put in some areas as well. (See photos).

The developer has installed similar kitchens as the ones for this condominium in its recent condo development and spec house development. The kitchens have a very nice look and includes crown moldings on the top cupboards. It is felt that the kitchen is an important part of the home and the floor plans clearly show the nice open concept of the kitchen.

Each unit will have a reserved parking spot and there will be guest spots.

Condominium fees will be charged on a monthly basis. An initial budget was completed and it is the developer’s opinion that the condominium fees will initially be approximately $99 per month. This includes the building insurance! This condominium fee will be used to cover driveway snow removal, clearing either the front & back walkways, mowing of grass and light gardening, outside building maintenance. During the first 8 – 10 years, the exterior maintenance on the building should be extremely low. The materials used in the construction of the building have all been selected to ensure minimum maintenance over the years and all the products chosen to construct the building are of average or above average quality.

The condominium is controlled by unit owners. A Board of Directors is elected. The number of people on the Board of Directors can vary, but will be 6 people ensuring everyone has a “voice” in the affairs of the condo operations. Both buildings will operate under one Condo Corporation. The Board of Directors will set monthly, quarterly or semi-annual meetings. At the meeting, any issues regarding the condominium corporation will be discussed and the condominium fee will be adjusted as actual figures are determined.

Insurance will be purchased by the corporation for the building and liability and is part of the condo fee. This is a cost effective way to purchase the main insurance, which is a cost any homeowner has to deal with.

All owners will be given a copy of the declaration and bylaws and common element rules. The documents are fairly comprehensive and will give the owners great comfort with the purchase and occupancy of their condominium unit.

CONCLUSION:

After reading these general comments, feel free to contact Mr. Mark Sears, President of Antigonish Condominiums Inc., for any questions or comments. Call 863-2299 to view a completed unit.

The declaration, bylaws and common elements rules will be provided for review to potential purchasers. Patrick Cassidy, Q.C., a Condominium Lawyer Specialist will draft a condominium purchase and sale agreement and the bylaws. This agreement will be available when an individual wishes to purchase a unit.

If you feel you are interested, a copy of the bylaws and purchase agreement is provided for a preliminary review. Once reviewed, you may discuss it with me. It would be an exceptional reason to see any changes in the purchase agreement and the bylaws cannot change.