Paradise Gardens V Homeowners' Association, Inc

2011 ANNUAL MEETING ANNOUNCEMENT

Notices Posted  on May 16, 2011

Pursuant to Florida State Statutes 720.306 (2), Paradise Gardens V (PG5) Homeowners’ Association, Inc. is noticing its Annual Meeting which will take place on Sunday, June 5 at 4:15 to 6:00 PM at Ted Allman's House- 990 NW 67th Terrace-  Margate, FL 33063. We are in the Conference Room this time.

All record landowners of properties within PG5 are invited to the Meeting.

Two of our PG5 homeowners have received the Margate City Grant- Do you Qualify?

Call Mary at 954-973-0300 extension 11

The City of Margate Home Rehabilitation Program is designed to assist very low and low income families to stop weather from entering the house, to prevent the loss of energy, to prevent deterioration and to provide for disabled accessibility.

Eligibility and Income Requirements: This program is available for all City of Margate owner occupied households that do not exceed the total household income for family size as established by the U.S. Department of Housing and Urban Development (HUD):

Type of Assistance
The program provides home repair assistance for eligible households in the form of a Deferred Payment Loan (DPL), a conditional grant that involves a lien on the rehabilitated property. The loan has a seven-year term and if repayment is required, the amount owed is reduced by equal amounts each calendar year.

Conditions Requiring Repayment of the Loan
• Sale of property or transfer of ownership.
• No longer primary resident (i.e. property is rented).
• Refinancing for equity (“cash out”).
• Failure to maintain reasonable standard of care and maintenance.
Repayment is not required if the property is refinanced to lower the interest rate (closing costs may be included, but interest rate must represent a considerable savings) and if sole owner dies, or both/all owners die within the five-year loan period.