North Star Commercial Condominiums

Projected Annual Expenses

Accounting	$500
Exterior Lighting	$600
Well, Operation & Maintenance	$200
Septic Maintenance & Fees	$1700
Maintenance Fund	$1400
Management Fee	$4000
Insurance	$3500
Lawn Care	$2200
Snowplowing	$2400
Yearly Totals	$16,500
Cost per Unit Annually	$2357
Cost per Unit Monthly	$196

The unit expenses above are figured for The "Lakeview" alone. Obviously, as The "Woods" is built, an additional seven units will share in the common costs, considerably reducing the per unit cost. The "Maintenance Fund" is a sinking fund designed to accumulate and cover anticipated repair and replacement.



Condo Documents & Legal Issues

Dan Barron and Valerie Snyder of Barron & Engstrom, LLC, Charlevoix have prepared all pertinent condominium legal documents and will handle reservation deposits and closings. Closing is accomplished after issuance of a certificate of occupancy by Charlevoix County Building Department.