Common use of Additional Sums to be Paid by Buyer Clause in Contracts

Additional Sums to be Paid by Buyer. (a) A Project start-up fee (being a non-refundable, non-transferable “start-up” fee for the Association of Unit Owners) in an amount equal to two (2) months’ estimated maintenance fees for the Unit; (b) one (1) month’s estimated maintenance fees for the Unit as an advance payment for the initial month’s maintenance fees payable by a Unit Owner; and (c) all estimated closing costs and prorations payable by Buyer, as estimated by Escrow, shall be payable by Buyer to Escrow on the earlier of (i) the Date of Pre-Closing as instructed in the Seller’s Pre-Closing Notice pursuant to Section 9(b) of the General Terms and Conditions below, or (ii) four (4) business days prior to the Scheduled Closing Date. If Buyer has pre- closed and Escrow shall determine prior to the Date of Closing that additional amounts are due to fully pay all such closing costs and prorations, then, and in such event, Buyer shall pay the additional amounts to Escrow within five (5) calendar days of Buyer’s receipt of notice from Escrow of the additional amounts due. If any excess amounts are prepaid by Buyer with respect to closing costs and prorations, then such excess amounts shall be refunded to Buyer by Escrow within a reasonable period of time after the Date of Closing. For purposes of this Agreement, the Project start-up fee is not an advance payment of future maintenance fee assessments but rather is intended to and shall be used to fund and pay for all costs and expenses typically associated with the opening of a new residential building, including by way of example and not limitation, office furniture and equipment for the resident manager (including computer(s) and software programs), uniforms for the Association staff, initial maintenance supplies and equipment for the Project, artwork for the Common Elements, luggage, shopping and golf carts, communications equipment for Association staff, secured entry fobs or cards, and the initial premiums for the Project Insurance. Seller, in Seller’s sole discretion, shall have the right to use the Project start up fees to pay for these costs and expenses and/or to be reimbursed for the cost of the same if previously purchased and paid for by Seller.

Additional Sums to be Paid by Buyer. (a) A Project start-up fee (being a non-refundable, non-non- transferable “start-up” fee for the Association of Unit Owners) in an amount equal to two (2) months’ fixed by multiplying one month’s estimated maintenance fees for the UnitUnit by 3; (b) one (1) month’s estimated maintenance fees for the Unit as an advance payment for the initial month’s maintenance fees payable by a Unit Owner; and (c) all estimated closing costs and prorations payable by Buyer, as estimated by Escrow, shall be payable by Buyer to Escrow on the earlier of (i) the Date of Pre-Closing as instructed in the Seller’s Pre-Closing Notice pursuant to Section Paragraph 9(b) of the General Terms and Conditions below, or (ii) four (4) business days prior to the Scheduled Closing Date. If Buyer has pre- pre-closed and Escrow shall determine prior to the Date of Closing that additional amounts are due to fully pay all such closing costs and prorations, then, and in such event, Buyer shall pay the additional amounts to Escrow within five (5) calendar days of Buyer’s receipt of such notice from Escrow of the additional amounts dueEscrow. If any excess amounts are prepaid by Buyer with respect to closing costs and prorations, then such excess amounts shall be refunded to Buyer by Escrow within a reasonable period of time after the Date of Closing. For purposes of this Agreement, the Project start-up fee is not an advance payment of future maintenance fee assessments but rather is intended to and shall be used to fund and pay for all costs and expenses typically associated with the opening of a new residential building, including by way of example and not limitation, office furniture and equipment for the resident manager (including computer(s) and software programs), uniforms for the Association staff, initial maintenance supplies and equipment for the Project, artwork for the Common Elements, luggage, luggage and shopping and golf carts, communications equipment for Association staff, secured entry fobs or cards, and the initial premiums for the Project Insuranceinsurance. Seller, in Seller’s sole discretion, Seller shall have the right to use the Project start up fees to pay for these costs and expenses and/or to be reimbursed for the cost of the same if previously purchased and paid for by Seller.