USBHM 2 to 4 Unit Condominium Project Questionnaire

Comprised of One Unit Dwellings with Separate Ownership and Legal
Project Name:       Branch/Lender:       Phase:       Person Submitting Request:       Address:       Telephone No. (     )       Email Address:      

Part I: Completed by authorized HOA representative
Project Information: Entire Project # of units in project       # of buildings in project       # of unit for sale       # of units sold, not closed       # of units conveyed to unit owner       # of Owner Primary Residence       # of Owner 2nd Homes       # of units Rented       # of Off-Site Addresses       1. Is any one person under contract to purchase or own more than one unit in project? If yes, list the # each owns:       2. Is there an arbitration clause in the project documents? If no, a copy of the arbitration agreement is required. 3. Is there commercial space located within the project? If yes, please give the following information: Commercial Square Footage       Total Square Footage       4. Is the project a conversion of an existing Residential building? If Yes, the date when all units were conveyed to owners: / / . Engineers/Architect’s Report required commenting on favorable structural integrity and evidence of a fully funded working capital fund if conversion was less than three years ago. 5. Are all common areas/amenities/recreational facilities complete and owned jointly by unit owners (including the master association)? 6. Are there any pending or levied special assessments by the HOA? If yes, explain on separate sheet. 7. Do the project documents require that the mortgagee obtain the approval of the HOA for the following: a. Foreclose or take title to a Condominium Unit pursuant to the remedies in the Mortgage b. Accept a deed or assignment in lieu of foreclosure in the event of default by a mortgagor c. Sell or lease a unit acquired by the mortgagee or its assignee. 8. Do the project documents include any restrictions on sale which would limit the free transferability of title? (i.e. Age, Restrictions, Low moderate income restrictions) If yes, please explain on an attachment 9. Are the units owned in leasehold or are the recreational amenities leased? 10. Is the HOA or the Developer involved in any litigation and/or arbitration? If yes, explain on an attachment. 11. Does the association have any knowledge of any adverse environmental factors affecting the project as a whole or as individual units? If yes, please explain on an attachment

Yes Yes Yes

No No No

Yes Yes Yes

No No No

Yes Yes Yes Yes

No No No No

Yes Yes Yes

No No No

Yes

No

12. Does the project consist of Short-Term Rentals, Revenue Sharing, Advertised Rentals, Timeshares, Manufactured Homes, Multi Dwelling Units or Houseboat? If yes, explain on an attachment.

Part II: Insurance Requirements:
Evidence of Insurance is required; submit copies of the USBHM Condo Insurance Certification Form or the insurance policies addressing the items listed: Name & Title of Authorized HOA Representative or management company providing the information: * Please note that this questionnaire should be completed by a non-interested party in the subject transaction* Name: _________________________________________________________________________ Title:_________________________ Signature:_______________________________________________________________________ Date: _______________________
USBHM 2-4 Revision 08.18.10

This form along with the required Submission Sheet and the following list of documents are to be sent to the Project Approval Dept.: 1) Executed and Recorded Declarations and all Amendments 5) Evidence of Insurance 2) Articles of Incorporation 6) Master Association Documents (if applicable) 3) Executed and Recorded Bylaws 4) Copy of Arbitration Agreement if not disclosed in the association declarations Please Note: The Project Approval Department may request any addition documentation needed to verify that project meets the required FHLMC warranties.

USBHM 2-4

Revision 08.18.10

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