Will there be a Reserve Fund?

Yes. As Residences are to be rented out as part of a Resort operation, it is expected that over time there will be wear and tear and breakage from normal use. The Reserve Fund will be used to pay for major repairs and replacements over the long term, to keep units at brand standards and command the highest possible market rates. Additionally, the Reserve Fund may be used for assessments for major upgrades and refurbishment. The Crane will recommend that the Board of the Community Association engage the services of a reserve study consultant, to determine the appropriate and necessary funding for the Reserve Fund over time.