The Condominium is located in the Township of Bernards, Somerset County, New Jersey. It is located between Valley Road and Acken Road, within two miles of Route 78 and approximately five miles from Route 287, major interstate highways. The tracts that will comprise the Condominium consist of a total of 212 acres and are designated as Block 178.01, Lot 10 and Block 178.02, Lots 32 and 42 on the Tax Map of the Township of Bernards.
The Property is located in the R-5 (PRD-2) zone, pursuant to the zoning ordinance of the Township. It is being developed in accordance with a Resolution of the Township of Bernards Planning Board. Permitted uses in an R-5 zone include residential development, public or private golf courses and clubhouses, farming, agriculture, horticulture (excluding commercial greenhouses), public parks, roads and other public uses. Other permitted uses, which are subject to certain restrictions, are the raising or keeping of livestock, home offices, public utilities, churches, schools and apartments within single-family homes. Permitted uses within the PRD-2 zone include single-family detached houses, twin or duplex houses and multi-family dwelling units. Also permitted, as incident to multi-family dwelling units, are offices, maintenance buildings, storage facilities, recreational facilities, clubhouses and open space. Schools are also permitted, subject to certain restrictions. Lands to the east, north and west of the property are zoned for either multifamily residential use or public purpose parks.
To the north of the Property, across Valley Road, is the Lyons Veterans Hospital. To the east of the Property, is a large residential complex known as Spring Ridge; to the west is another large residential complex, Society Hill at Bernards, and the Bonnie Brae School for Boys. As previously stated, the southern portions of the Property are comprised of open space to be dedicated to the Township which will perpetuate said areas as freshwater wetlands.
There are two entrances to the Condominium, one from Valley Road and one from The Boulevard, a street that the Developer will construct and dedicate to the Township; The Boulevard also traverses the aforementioned Spring Ridge and Society Hill developments. An internal road network will also service the Condominium. Many of the Units will have their own garages. Other parking is available for residents of the buildings adjacent to the Units. If the Condominium is fully developed, an aggregate of four hundred and eighty (480) parking spaces will be included, which spaces will be unassigned for use by any Unit Owner or guests.
Four basic types of Units will be constructed. Townhouse Units are two-story units containing two bedrooms, living room, dining room, kitchen, loft, den, two and one-half baths, garage and basement; each Townhouse Unit building will contain four Units and four buildings will be clustered together. Twin Home Units are two-story units containing two or three bedrooms, living room, dining room, kitchen, den, two and one-half baths, garage, basement, patio or den; there will be two Twin Home Units in each building. The Apartment Style Condominium Units are one-story units containing one or two bedrooms living/dining area, kitchen, one or two baths and a garage or deck; each Apartment Unit building will contain either twelve or eighteen Units. There will be an additional 106 Apartment Style Condominium Units reserved for low and moderate income purchasers, which are the Affordable Housing Units. These are one-story units containing one, two or three bedrooms, living/dining area, kitchen, one bath and a separate storage area.
These model types are depicted in Exhibit C to the proposed Master Deed. As previously mentioned, the Condominium will also include one (1) single-family Unit. That Unit is comprised of an existing building of historic interest, designated on Exhibit B of the proposed Master Deed as Unit 56, and is further described in Section 3.02 of the Master Deed. Any areas and dimensions of the Units depicted in Exhibit C of the proposed Master Deed are only approximations. The actual areas and dimensions may be different. THE DEVELOPER EXPRESSLY DISCLAIMS ANY WARRANTY, EXPRESS OR IMPLIED, WITH REGARD TO THE ACCURACY OF THESE GRAPHIC DESCRIPTIONS.
The Developer reserves the right to offer building- and Unit-types other than those discussed and depicted in this offering. If these different types are substantially different from those depicted herein, then the Developer can exercise this right by registering an appropriate amendment to this Public Offering Statement with the New Jersey Department of Community Affairs In any event, the Developer must comply with applicable requirements of zoning and land use approvals or regulations governing the property.
In the Master Deed, the Developer has reserved the right to use one or more Units as models and/or as sales office(s) until it has sold the last Unit within the fully developed Condominium. The Developer may use the Units indicated on the Exhibit B to the Master Deed, or it may choose to locate the sales office and models elsewhere on the Property. This reserved right shall continue for so long as the Developer continues to offer Units for sale in the regular course of business but in no event may these models and offices be maintained for greater than ten (10) years subsequent to the recordation of the Master Deed.
In addition to the buildings, Units, General and Limited Common Elements described herein, the Condominium will also contain recreational amenities that are contemplated and described in Paragraph 7 of this Plan.
Maintenance, repair, resurfacing, replacement, lining and snow clearing with regard to the parking areas shall be the responsibility of the Association. The cost and expense related to same shall be borne in common by all Unit Owners within the Condominium and shall be deemed a Common Expense as defined in the Master Deed. The Association shall have the right to make Rules and Regulations to regulate the parking areas to assure aesthetic and visual harmony, safety, and continued maintenance.
Each Unit will have its own independent HVAC system. As presently planned, the HVAC system for each Apartment Style Condominium will be located in a storage space located just off the balcony or deck. Heating units will be located in the basement of each Townhouse and Twin Home Unit; air conditioning units will be located on concrete pads, just outside each Unit. The HVAC system provides heating, ventilating and air conditioning to the Unit. The HVAC is basically a forced air system in which a fan sends air over a gas heater and then on to the Unit to provide heat to the Unit or forces air through an electric condenser and on to the Unit to cool the Unit. The gas or electricity required to operate the HVAC system will be independently metered and billed to each Unit Owner and will not be part of the Common Expense Assessment collected by the Association. Electricity and gas for other purposes, and water and sewer will also be independently metered and billed to each Unit Owner and will not be part of the Common Expense assessment collected by the Association. Unit Owners will also pay for their own telephone service. If a Unit Owner wishes to obtain cable television service, that Unit Owner must pay the connection and subscription costs attendant to same.
Unit Owners, their respective families and guests, shall be entitled to equal use of common facilities subject to such rules, regulations, limitations and conditions as may from time to time be imposed by the Association acting through its Board of Directors (the "Board"). Unit Owners may, by written agreement and upon notice to the Board, delegate their right of enjoyment and use of parking and other common facilities to their permitted lessees.
