December 2004

TO ALL REAL ESTATE AGENTS;

We welcome you and your prospective residents to our Village and would like to offer pertinent information about our community. Additional information can be found on our website: www.shadowlakevillage.com, which contains Rules & Regs, floor plans, photographs, and much more.

Shadow Lake Village is located in Middletown, but carries a Red Bank mailing address. Some sections of the Village border on Shadow Lake. We have 952 homes and many amenities including a nine-hole golf course, swimming pool, tennis, shuffleboard and bocce courts, and a clubhouse with many activities. We also provide 24- hour security and daily bus service to the various shopping areas.

As you can see by our varied activities, we are a community of active adults. We are not an assisted care facility. Persons requiring aid with daily living needs, such as a nurse, meals, etc, will not find these services available here.

When a home is resold in Shadow Lake Village, the following fees are due to the Association:

A REFUNDABLE SECURITY DEPOSIT EQUAL TO ONE QUARTERLY ASSESSMENT PAID BY THE BUYER

A NON-REFUNDABLE CAPITAL EQUITY FEE OF 1% OF THE SELLING PRICE OF THE UNIT PAID BY THE BUYER

A NON-REFUNDABLE $100.00 ADMINISTRATIVE FEE PAID TO SHADOW LAKE VILLAGE

A VOIDED CHECK AND DIRECT DEBIT APPLICATION IS NOW REQUIRED FOR ALL NEW OWNERS – MUST BE GIVEN TO THE ASSOCIATION ON OR BEFORE THE CLOSING. WE WILL NOT ACCEPT THE CLOSING DOCUMENTS WITHOUT THE DIRECT DEBIT APPLICATION.

A NON-REFUNDABLE ADMINISTRATIVE FEE PAID TO WENTWORTH GROUP TO PROCESS THE RESALE CERTIFICATE & FOR COMMUNITY DOCUMENTS. PLEASE CALL THE RESALE DEPARTMENT AT 1-800-222-7569 FOR FEE AMOUNT AND TO ORDER A CERTIFICATE. THIS CERTIFICATE IS REQUIRED.

Each member of the Association is responsible for quarterly assessment fees due on January 1, April 1, July 1, and October 1. A $25.00 late fee will be charged if payment is received after the 10^th. Fee is subject to change at the start of each fiscal year.

Please share the information in this package with your clients. If you have any questions please call the Administration Office.