NOTICE OF TRANSFER FEE

Effective January 1, 2008, a seller has an obligation to make specific disclosures if the property being sold is subject to a private transfer fee. A transfer fee is defined as any fee that must be paid upon transfer of real property, whether imposed by deed, CC&R's or other documents, with certain exceptions, including transfer fees imposed by probate, trust, court orders, government agencies, or homeowners associations. These fees typically originate from an agreement between a developer and a government entity or interest group.