Aquarius BOD proposes optional payment plan for Special Assessment 2015 last two installments

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Aquarius Board of Directors proposes optional payment plan for Special Assessment 2015 last two installments

 

The option allows owners to pay in 10 installments the last two parcels of the Special Assessment of 2015.

This option will cost something between 3 to 4% for those who take it. Instead of two somewhat large payments for November 1st and December 15th, 2015 the payments are divided in equal amounts for ten months. The plan if approved requires the first payment November 1st and extends to August 2016.

Here the full notice that was emailed, posted in the Aquariuscondo.net, and sent via regular mail to the condominium owners.

 

Notice to the Owners offering extended payment plan

 

AQUARIUS CONDOMINIUM ASSOCIATION, INC

To all Aquarius Unit Owners,

NOTICE IS HEREBY GIVEN that the Board of Directors will be meeting with Association Members for the purpose of discussion and adoption an optional schedule of payments for the remaining balance ($1,500,000) of the Special Assessment 4 2. The meeting will take place on Thursday, October 22, 2015 at 7:00 p.m, in the Restaurant, at 2751 S. Ocean Drive, Hollywood, Florida 33019.

The aggressive five-payment schedule adopted by previous Board caused serious financial difficulties to many unit owners and resulted in numerous delinquencies. Signing a Credit Line with one of the banks in mid-August 2015, with only One-year fixed interest rate, gave the current Board an opportunity to ease the burden and offer the Association an optional extended payment plan with the following, conditions:

  1. The plan is designed for 10 equal monthly payments

(See enclosed schedule).

  1. The monthly payments are calculated with 4.0°A interest to the total amount.
  2. The first payment is due November 1, 2015.
  3. The last (and tenth) payment is due August 1, 2016.

Your participation in this plan is purely optional, but your decision is final and cannot be changed later. You can continue with two remaining payments due on November 1, 2015 and December 15, 2015.

If you wish, please sign up for the extended schedule payments on this page and return it to the Aquarius Condominium Office before October 22, 2015. If you are currently in the buildings, you can sign up directly in the Aquarius Office.

Information required:  Unit Number, Owner Name, Special Assessment 2015 #2 10 payment plan: YES, Owner Signature.

December 7, 2015 Ilya Gonorovsky, President, Aquarius Condominium Association, Inc.

2015 10 07 Option Pay Plan Special Assessment 2015       (original form you can print and send to the Management Office    .

NORTH   TOWER
UNIT Multiplier for Common
Area Interest
Unit Share in  1,500,000 Monthly payment with Interest –  –  10 payments Aditional TOTAL Cost of Option
#1,# 04 0.0041918 6,287.70 650.78 220.10
#2,# 06, 407 0.0031127 4,669.05 483.25 163.45
# 03 0.0026930 4,039.50 418.09 141.40
#05, # 08 0.0045669 6,850.35 709.01 239.75
PH 1, PH 4 0.0044434 6,665.10 89.84 233.30
PH 2, PH 6, PH 7 0.0035650 5,347.50 553.47 187.20
PH 3 0.0030753 4,612.95 477.44 161.45
PH 5, PH 8 0.0045669 6,850.35 709.01 239.75
SOUTH   TOWER
#1,# 04 0.0041859 6,278.85 649.86 219.75
#2,# 06, #07 0.0031825 4,773.75 494.08 167.05
# 03 0.0026930 4,039.50 418.09 141.40
#05, # 08 0.0045563 6,834.45 707.36 239.15
PH 1, PH 4 0.0044435 6,665.25 689.85 233.25
PH 2, PH 6, PH 7 0.0035650 5,347.50 553.47 187.20
PH 3 0.0030754 4,613.10 477.45 161.40
PH 5, PH 8 0.0045563 6,834.45 707.36 239.15

 

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One Response to Aquarius BOD proposes optional payment plan for Special Assessment 2015 last two installments

  1. Eugenia Volchek says:

    Please replace this post with the final version of Extended Payment Plan which was mailed out to unit owners. The interest rate is 3.5% on the total amount of remaining Asessment # 2.

    Eugenia Volchek

    Like

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