HOLLYBROOK GOLF & TENNIS CLUB
Summary of important ownership rules & requirements

The information below is a summary of some of the important rules and regulations you might need to know before considering the purchase of a condominium apartment as represented in the purchase packet supplied by Hollybrook Golf & Tennis Club Condominium, Inc.  The complete set of documents are contained in a book that supplied by the seller.


Hollybrook is a community of 1902 condominium units, administered by a single Board of Administration consisting of 20 Directors and 5 officers.

Age Requirements
Hollybrook is a legal "Over 55 Community" Apartments must be occupied by at least one person over the age of 55. No one under 18 years of age can permanently live in or occupy an apatment in Hollybrook.

Income Requirements
A purchaser must have two years consecutive income equal to or greater than 10 times the annual maintenance assessment for the subject unit, or a certified net worth of not less than $250,000. If the unit does not own the Recreation lease, an addition five (5) times the annual recreation lease will be added to the income requirement. Currently the annual income requirements are:

$36,640.00 for Phases 1-5 & Towers or $47,740.00 with a rec lease
$45,240.00 for Phase 6

Down Payment
No unit in Hollybrook can have financing in excess of 80% of the appraised value of the premises purchased. Normally a 20% down payment will be sufficient.

Security Deposit
Purchasers must deposit, in escrow, an amount equal to one year's maintenance in advance of closing, which will be held for three (3) years.  Currently this amounts to $3664.00 for phases 1-5 and $4524.00 for phase 6 apartments.

Restaurant
Each owner is required to purchase a Hollybrook Restaurant card each year for $150.00 per apartment.  This card can be be used at the restaurant throughout the year for $150.00 worth of purchases.  The restaurant is open every day for breakfast and lunch and for dinner on Wednesday and Friday evenings (and special occasions and holidays).

Pets
You may move in with one dog or cat which cannot weigh more than 15 pounds.

Vehicles
Overnight parking of Pick-up trucks, motorcycles, campers, trailers, etc listed in Hollybrook's Rules & Regulations is prohibited

Renting
Once you have owned a unit for 9 months you may then rent your apartment only once in each calendar year for a period of not less than two (2) months. Sub-leasing is prohibited.

Application and Interview
The application processing fee is $100.00 per applicant (husband and wife are deemed to be one (1) applicant. Each owner must apply. Out of state and Florida residents with less than two (2) years of residency must pay a $50.00 surcharge for background check. After applying you will be notified to meet with the Screening Committee for a personal interview. Non-Florida residents may request a telephone interview.