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Home My WebLink AboutSDU 01-11; Magnolia Gardens Lot 2; Second Dwelling Unit (SDU) (3)I CERTIFY THAT I AM THE LEGAL OWNER AND THAT ALL THE ABOVE INFORMATION IS TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE. Administrative Permit - 2nd Dwelling Unit 0 Administrative Variance I CERTIFY THAT 1 AM THE LEGAL REPRESENTATIVE OF THE OWNER AND THAT ALL THE ABOVE INFORMATION IS TRUE AND CORRECT TO THE BEST OF MY KNOWLEDGE. 0 Coastal Development Permit Conditional Use Permit 0 Condominium Permit 0 Environmental Impact General Plan Amendment 0 Hillside Development Permit Local Coastal Plan Amendment 0 Master Plan Assessment SIGNATURE &p DATE 1 Non-Residential Planned 2 Planned Development Permit Development ,- 5 ' 3/c/6 I SIGNATURE ' DATE (FOR DEPARTMENT Io H 0 0 0 Planned Industrial Permit Planning Commission Determination Precise Development Plan Redevelopment Permit . Site Development Plan (FOR DEPARTMENT USE ONLY) I I Special Use Permit Specific Plan Obtain from Engineering Department Tentative Tract Map Variance Zone Change List other applications not I I specified I I 2) ASSESSOR PARCEL NOW.: tor a CTC~~--I? 205320 q5 3) PROJECT NAME: Mk4NOUf? 1c A0&/1IS 4) BRIEF DESCRIPTION OF PROJECT: RU u( fz&D 7) BRIEF LEGAL DESCRIPTION DWci5028' NOTE: A PROPOSED PROJECT REQUIRING MULTIPLE APPLICATIONS BE FILED, MUST BE SUBMITTED PRIOR TO 3:30 P.M. A PROPOSED PROJECT REQUIRING ONLY ONE APPLICATION BE FILED, MUST BE SUBMITTED PRIOR TO 4:OO P.M. Form 16 PAGE 1 OF 2 LOCATION OF PROJECT: STREET ADDRESS APPLICATION TYPE FEE REQUIRED R-ED MAR 0 8 2001 CITY OF CARLSBAD DATE ~KMYWM%PE~VED BETWEEN I H.t(I;ttMW I AND I IJAu6-Y (NAME OF STREET) (NAME OF STREET) LOCAL FACILITIES MANAGEMENT ZONE 12) PROPOSED NUMBER OF RESIDENTIAL UNITS 11) NUMBER OF EXISTING (I1 RESIDENTIAL UNITS PROPOSED NUMBER OF LOTS 15) PROPOSED COMM rl SQUARE FOOTAGE 17) PROPOSED INCREASE IN n 18) EA$;FEEWER 20) EXISTING GENERAL TYPE OF SUBDIVISION 14) PROPOSED IND OFFICE/ PERCENTAGE OF PROPOSED PROJECT IN OPEN SPACE GROSS SITE ACREAGE 21 ) PROPOSED GENERAL PLAN DESIGNATION 1-1 PLAN EXISTING ZONING 23) PROPOSED ZONING IN THE PROCESS OF REVIEWING THIS APPLICATION IT MAY BE NECESSARY FOR MEMBERS OF CITY STAFF, PLANNING COMMISSIONERS, DESIGN REVIEW BOARD MEMBERS OR CITY COUNCIL MEMBERS TO INSPECT AND ENTER THE PROPERTY THAT IS THE SUBJECT OF THIS APPLICATION. lMlE CONSENT TO ENTRY FOR THIS PURPOSE . SIGNATURE / FOR CITY USE ONLY FEE COMPUTATION - TOTAL FEE REQUIRED 71 DATE FEE PAID ' RECEIVED BY: . PdA- RECEIPT NO. m Form 76 PAGE 2 OF 2 City of Carlsbad 1635 Faraday Avenue Carlsbad CA 92008 Applicant: LOMA VERDE INC <DBA PACIFIC SCENE HOMES> DescriDtion SDUO 10 11 Amount 695. 00 3484 03/08i9? 0002 01. 02 CGP 695 9 99 Receipt Number: ROO18846 Transaction Date: 03/08/2001 Transaction Amount: 695.00 PROJECT DESCRIPTION/EXPLANATION PROJECT NAME: MAGNOLIA GARDEN - SDU APPLICATION APPLICANTNAME: LOMA VERDE INC. dba PACIFIC SCENE HOMES Please describe fully the proposed project by application type. Include any details necessary to adequately explain the scope and/or operation of the proposed project. You may also include any background information and supporting statements regarding the reasons for, or appropriateness of, the application. Use an addendum sheet if necessary. Description/Explanation: This application is made as required by City Council. Resolution #99-530, condition of approval #19. This application pertains to Lots 3 & 8 of Carlsbad Tract 98-12. Project Description 10/96 Page 1 of 1 A -\ CITY OF CARLSBAD APPLICATION REQUIREMENTS .FOR: SECOND DWELLING UNIT ADMINISTRATIVE PERMIT An administrative permit (a permit which is reviewed and approved by the Planning Director) is required for the development of a second dwelling unit within the City of Carlsbad. The following materials shall be submitted for each application or for combined applications on a single project, except as noted under "111. OtheF Requirements," A and B of Property Owners List and Address Labels. REOUIRED PLANS (folded and delivered in comDlete sets) A. SITE PLAN - Four (4) copies prepared on 24" x 36" sheet(s) folded to 8 1/2" x 11". The site plan shall include the following information: Name and address of owner, engineer and/or architect, etc. on, fhu 5 Location, size and use of all easements. Location and dimension of vehicular access and all off-street parking. Lot dimensions and locations (building footprint) of the primary and secondary dwelling unit. Distance between buildings and/or structures. Building setbacks (front, rear and sides). Dimensions of rear yard recreational area (for lots smaller than 7,500 square feet). @/A Location, height and materials of walls and fences. @&c Location of water and sewer lines. A summary table which includes the following information: 56% 5 I l-6. a. b. C. total building coverage; d. e. number of parking spaces. North arrow and scale. Location and width of adjacent street(s). Name of sewer, water and school districts providing service to the site. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. pflN 13 fm lot area (total acres or square feet); existing zone and land use; building square footage for each dwelling unit; and 1 1. 12. 13. PAGE 1 OF 5 FRM0006 5/96 14. Existing and proposed topographic contour lines. a 15. Existing onsite trees; those to be removed and those to be saved. fi & B. BUILDING ELEVATIONS AND FLOOR PLANS - Four (4) copies for the second dwelling unit prepared on 24" x 36" sheets folded to 8 1/2" x 11" size. 0 C. REDUCED LOCATION MAP - One (1) copy of 8 1/2" x 11" (suggested scale 200" - vicinity maps on the site plan are not acceptable). II. d A. d B. d c. Disclosure statement. d D. Completed "Project DescriptionExplanation" sheet. d E. REOUIRED DOCUMENTS (IN ADDITION TO A COMPLETE LAND USE REMEW APPLICATION) The prospective rental rate for the second dwelling unit. /+TTytclc KD Complete and sign the attached Affidavit of Compliance form for a second dwelling unit. Three (3) copies of the Preliminary Title Report (current within the last six (6) months). 0 F. Public Facilities Agreement - Two (2) copies: one (1) notarized original and one (1) reproduced copy. cornf~&%~ WITH SU~D~V~S(O~, T, h . III. OTHERREOUIREMENTS N/fi peh ?OU #EL). 0 A. Pr0tm-w Owners List and Addressed Labels NOTE: WHEN THE APPLICATION IS TENTATIVELY SCHEDULED TO BE HEARD BY THE DECISION MAKING BODY, THE PROJECT PLANNER WILL CONTACT THE APPLICANT AND ADVISE HIM TO SUBMIT THE RADIUS MAP, TWO SETS OF THE PROPERTY OWNERS LIST AND LABELS. THE APPLICANT SHALL BE REQUIRED TO SIGN A STATEMENT CERTIFYING THAT THE INFORMATION PROVIDED REPRESENTS THE LATEST ASSESSOR'S OFFICE. THE PROJECT WILL NOT GO FORWARD UNTIL THIS INFORMATION IS RECEIVED. EQUALIZED ASSESSM~NT ROLLS FROM THE SAN DIEGO COUNTY 0 A typewritten list of the names and addresses of all property owners within a 300 foot radius of subject property (including the amlicant andor owner). The list shall include the San Diego County Assessor's parcel number from the latest assessment rolls. 0 Two (2) separate sets of mailing labels of the property owners within a 300 foot radius of the subject property. The list be typed in all CAPITAL LETTERS, left justified, void of any punctuation. For any address other than a single family residence, an apartment or suite number must be included but Apt., Suite, and Bldg. # must NOT appear in the street address line. DO NOT TYPE ASSESSOR'S PARCEL NUMBER ON LABELS. DO NOT provide PAGE 2 OF 5 FRM0006 5/96 0 - add, ed envelopes -PROVIDE LABELS OM - Acceptable fonts are: Swiss 72 1 , Enterprise TM, Courier New (IT) no larger than 1 lpt. Sample labels are as follows: UNACCEPTABLEUNACCEPTABLE ACCEPTABLE Mrs. Jane Smith Mrs. Jane Smith MRS JANE SMITH 123 Magnolia Ave,. Apt #3 123 Magnolia Ave. APT #3 Carlsbad, CA 92008 Apt. #3 Carlsbad, CA 92008 123 MAGNOLIA AVE. CARLSBAD CA 92008 B. 300 Foot Radius MaD A map to scale not less than 1" = 200' showing each lot within 300 feet of exterior boundaries of the subject property. Each of these lots shall be consecutively numbered and correspond with the property owners list. The scale of the map may be reduced to a scale acceptable to the Planning Director if the required scale is impractical. .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... .... FRM0006 5/96 PAGE 3 OF 5 I A CITY C ZARLSBAD - AFmDAVIT OF COMI UVCE FOR A SECOND DWELLING UNIT Please type or print complete and accurate answers in all blank spaces in Section I. Please read carefully, particularly Section II. Please read, sign and date Section III indicating that you understand and agree with the conditions of compliance. SECTION I - INFORMATION Property owner(s): Lorna Verde, Inc., dba Pacific Scene 2505 Conqress St. #22O San Dieqo CA 92110 Dennis M. Ferdiq, Vice President Property Address: Assessor Parcel No. Subdivision: Project Number: Name($ 1671 Brady Circle Street Address Carlsbad CA 92008 City State Zip Code ~~~ ~ ~~ ~ ~~ ~ Maunnl i FI Gdrm I 8 or cT98 - 13 Name Lot/Block Parcel No. CT98-12 SECTION II - CONDITIONS FOR C OMPLIANa PLEASE READ CAREFULLY c. 1. A second dwelling unit is an attached or detached dwelling unit which is located on the same lot as an existing owner-occupied singletfamily detached dwelling unit and is: a. Suitable for use as a complete living facility with provisions within the facility for cooking, eating, sanitation and sleeping; b. Occupied by one or more persons; and C. Subordinate to the main dwelling unit. 2. The Property Owner(s) listed above hereby certifies that helshe owns the above referenced property, as of the date of this affidavit, and to hidher belief and knowledge, there are no conditions, covenants or restrictions on the property prohibiting a second dwelling unit apartment. 3. The Property Owner(s) agrees to the following terms and conditions: PAGE 4 OF 5 FRMOOO6 5/96 a. The property and residence referenced above must not contain a second residential dwelling unit unless it is in compliance with the second dwelling unit administrative permit provisions of the Zoning Ordinance of the City of Carlsbad. b. The Property Owner(s) shall reside in either the main dwelling unit or second dwelling unit described above, now, and for the life of this agreement. "Owner" shall include a lessee if the leasehold includes both the main dwelling unit and the second dwelling unit. C. The Second Dwelling Unit may only be rented and shall not be sold separately from the main dwelling unit, unless the lot on which such units are located is subdivided. d. The Property Owner(s) agree to rent the Second Dwelling Unit at a monthly rental rate which shall not exceed an amount equal to 30% of the gross monthly income of a low- income household, adjusted for household size, at 80% of the San Diego County median income. e. A copy of this agreement and Affidavit must be given by the Property Owner(s) to prospective purchasers of the ,property prior to entering into a sales contract for said property. SECTION III - AFTIRMA TION AND AGREEMENT I HEREBY DECLARE AND AFFIRM, under penalty of perjury, that all matters and facts set forth in this agreement are true and correct to the best of my knowledge, information and belief, and that I (we) understand, accept and will abide by the regulations, requirements, and standards governing the Second Dwelling Unit. 2/,6/0 I Date BY: Property own& BY: Property Owner Date Owner's Telephone Number(s): {& 2 74 51 ( 2 I( Home Office FRM0006 5/96 PAGE 5 OF 5 - City of Carlsbad DISCLOSURE STATEMENT Applicant’s statement or disclosure of certain ownership interests on all applications which will require discretionary action on the part of the City Council or any appointed Board, Commission or Committee. The following information MUST be disclosed at the time of application submittal. Your project cannot be reviewed until this information is completed. Please print. Note: Person is defmed as “Any individual, firm, eo-partnership, joint venture, association, socisl club, fraternal organization, corporation, estate, trust, receiver, syndicate, in this and anp oh cow, city and county, city municipality, district or other political subdivision op any other group or combination acting, as a unit.” Agents may sign this document; however, the legal mum and Catity d the applbt aad pram m provided below. b 1. APPLICANT (Not the applicant’s agent) Provide the COMPLETE. LEGAL names and addresses of persons having a financial interest in the application. If the applicant includes a cornoration or DartnerShlD, include the names, title, addresses of all individuals owning more than 10% of the shares. IF NO APPLICABLE (N/A) IN THE SPACE BELOW If a publicly-owned comration, include the names, titles, and addresses of the corporate officers. (A separate page may be attached if necessary.) INDIVIDUALS OWN MORE THAN 10% OF THE SHARES, PLEASE INDICATE NON- Person .&e AttacLed flee.-t- COrpRart Title Title Address Address 2. OWNER (Not the owner’s agent) Provide the COMPLETE. LEGAL names and addresses of persons having any ownership interest in the property involved. Also, provide the nature of the legal ownership (i.e, partnership, tenants in common, non-profit, corporation, etc.). If the ownership includes a comoration or DartnershiD, include the names, title, addresses of all individuals owning more than 10% of the shares. IF NO INDIVIDUALS OWN MORE THAN 10% OF THE SHARES, PLEASE INDICATE NON-APPLICABLE (N/A) IN THE SPACE BELOW. If a publiclv- owned comoration, include the names, titles, and addresses of the corporate officers. (A separate page may be attached if necessary.) Person See At~~cieA Sle& COrpRart Title Title Address Address 1635 Faraday Avenue - Carlsbad, CA 92008-7314 (760) 602-4600 FAX (760) 602-8559 @ - . 3. NON-PROFIT 01 .UYIZATION OR TRUST If any person identified pursuant to (1) or (2) above is a nonprofit organization or a trust, list the names and addresses of ANY person serving as an officer or director of the non-profit organization or as trustee or beneficiary of the. Non ProfiUTrust Non ProfiVTrust Title Title Address Address 4. Have you had more than $250 worth of business transacted with any member of City staff, Boards, Commissions, Committees and/or Council within the past twelve (12) months? 0 Yes a No If yes, please indicate person(s): NOTE: Attach additional sheets if necessary. I certify that all the above information is true and correct to the best of my knowledge. m J‘P hN fT Signature of owner/date/ Signature of ipplicantdte 1 LNM i.5 M. FEA d3/d D&fUlvlS /vc. FE&JM Print or type name of owner Pnnt or type name of applicant Signature of owner/applicant’s agent if applicableldate Print or type name of owner/applicant’s agent H:ADMIN\COUNTER\DISCLOSURE STATEMENT 5/98 Page 2 of 2 OWNERSHIP 81 OFFICERS Company: Loma Verde, Inc., a California corporation dba Pacific Scene Homes Tax ID Number: 95-3080061 Contractors License No.: 760005, Class B HIC Shareholders of Loma Verde, Inc.: 33.33% Brian N. Khoury, Trustee of the Brian N. Khoury Revocable Trust U/A/D January 27,1987, as amended 2505 Congress Street, Suite 200 San Diego, CA 921 10 (6 19) 294-7700 ID #: 555-5 1-7029 33.33% Jason B. Khoury, Trustee of the Jason B. Khoury Revocable Trust U/A/D January 27, 1987, as amended 2505 Congress Street, Suite 200 San Diego, CA 92 1 10 (61 9) 294-7700 ID #: 565-35-6044 33.34% Noelle F. Khoury, Trustee of the Noelle F. Khoury Revocable Trust U/A/D January 27,1987, as amended 2505 Congress Street, Suite 200 San Diego, CA 921 10 (61 9) 294-7700 ID #: 555-51-6459 Officers of Lorna Verde, Inc.: Jason B. Khoury - Director, President, CEO Brian N. Khoury - Director, Vice President Noelle F. Khoury - Director, Vice President, Secretary Russ Richard - Director, Authorized Agent Dennis M. Ferdig - Vice President Tammy Miller - Vice President, CFO, Assistant Secretary Jose G. Laguda - Assistant Secretary Eva R. Demattia - Assistant Secretary MrnZDm 50% VERY LOW lNCOME 4NNUAL MONTHLY "COME INCOME 30% RENT i~.m 1.m 470 450 24.1~ 2.015 BO) 578 ZB,~ z.ne mi 645 29.000 2,417 725 m 21,500 1.792 538 51% 31.150 2.598 779 747 33,300 2,775 633 793 35.450 2,954 e86 846 I I I I 30% I 40% 60% LOW INCOME AHtiUAl MONTHLY tNCOME MCWE 30% RENT z.550 1.m 564 541 29,000 2,417 725 699 32.2~0 2,683 805 ng 34.800 2.9~ a70 em 25.800 2,150 645 625 37,350 3,113 93.4 m2 39,%0 3.329 999 059 42,550 3.~6 1.064 1,024 I VERY LOW LNCOME ANNUAL M0HTM.Y lNCOME 30% RENT IN- 1NCOME SOY RENT I I ONE TWO THREE FOUR MJE 1 2n lf,300 942 283 263 15.050 1,254 376 356 TQm 20 12.800 1,075 323 303 17.200 1.453 430 410 THREE Z?j i4,m $300 363 33) 19,350 1,613 484 458 FOUR 26 26,iDO 1.342 403 517 21.500 1,792 538 512 RVE 32 17,m 1.450 435 403 23.200 1.933 580 548 SIX 32 m.mo 1,558 e8 436 24.900 2075 rn 591 SEVEN 40 20,000 1,667 500 430 26.650 2.221 686 626 ELGW 40 2t.m t.n1 551 491 2a.W 2,363 709 609 NO.OF BDRMS ONE Two THREE my. FAMILY UTW Low INCWE SEE ALLOW" ANNUAL MONTHLY INCOlvlE WCM 30% RENT ONE zo sa,om 2.504 751 731 Two 20 34.350 ram e= 839 TnHREE 23 38,650 3.221 986 940 FOUR 26 42.930 3.579 1,074 1,048 FWE 32 46.400 3.887 1,160 1.128 SI% 32 49.850 4.154 1.246 1,214 =,SO 2821 n)6 826 38.6w 3,221 966 916 43,500 3,625 1,080 1.062 48.950 4,028 1,209 1,183 SZ.aO0 4,350 1.305 1.273 58.050 4.671 1,401 1.369 90% I 100% 37,600 3,133 C40 920 42.450 3,579 1,474 1.054 46,350 4,029 1.m g.183 53.700 4.475 1.343 1.317 58,OOO 4,833 1.450 1,418 62.300 5.192 1,558 1,526 MOERATE INCokn I MOMRAEtNCOME 4NNUAL MONTHLY \ANNUAL MONTHLY FOUR SEVEN 40 53.250 4.458 1,331 1,291 EIGHT 40 56,700 4.725 1.418 1.376 59,950 4,996 1,499 1,459 83,800 5.317 1.595 1.555 110% 86.600 5.550 1,685 1,625 70,950 5.808 1,773 1.733 MODERATE INCOME WWUAL MONTHLY 41,350 3.M6 1.034 1,014 47.250 3.936 1,181 1.161 53,150 4.429 1,329 1.303 59,050 4,921 1.476 1,450 63.W 5,317 1,595 1,563 68.500 5,7W 1.713 1,881 73.250 6,IM 1,831 1,791 77,950 6.490 1,949 1.909 70% Low "OM€ 4NNW MONTHLY "COME IWME 30% REM 26.300 2,192 658 638 %,OS0 2.504 751 731 33.e.so 2,821 846 azo 37,600 3.133 wa 914 40,W 3.985 1,015 963 43.soO 3,633 1.m 1.058 10.600 3.883 t.165 1.125 49.600 4,133 1.240 1.200 120% WOERATE INCOME WNUAC MONTHLY NWME WCOME 30% RENT 45.100 3,758 1.128 1,108 5155o 4,296 1.289 1,269 58.000 4.833 1,450 1.424 61,450 5.571 l.6rl 1.W m.800 5.800 1.7.10 i,me 79,900 6.658 1.998 1.958 74.750 6,229 1,889 1,837 85,050 7,088 2,126 2,086 Sales Price Formula 2000 C1N OF CARLSBAD - ANALYSIS OF AFFORDABLE HOUSE PRICING (Based upon 2000 HUD Median Income Data Effective March 9,2000) LOW LOW MEDIAN MODERATE Median County Income for a Family of Four Persons (2000 HUD Median) Times Percent of Median Qualifying for Affordable Equals Percent of Median lncome for a Family of four PBrsons limes Percent of Family Income Attributable to Housing Costs Equals Annual Dollars Allowed for Housing Expenses ' Less Real Estate Taxes (Annual 7 -2% of Purchase Price) Less Home Owners Fee $100.00 X 12 mos. . Less Utilities $ 26.00 X 12 mos. Equals Annual Dollars Available for Debt Service Divided by Annual Loan Constant (see Footnote #1) Equals Maximum Loan Amount That Can Be Used for Home Purchase Plus Dawn Payment - 5% Equals Maximum Allowable Purchase Price Buyer's Monthly Mortgage Payment - Debt Service Divided by 12 mos. t I 53.700 53,700 53,700 53,700 70% 80% 100% 120% 37.600 42.950 53,700 64.450 30% 35% 35% 30% 1 1,280 12.885 18,795 22 55 8 1,243 1,449 2,205 2,686 31 2 1,200 1.200 1,200 1,200 31 2 312 312 8,258 9,627 14,646 17,840 0.0839 0,0839 0.0839 0.0839 98.418 114,733 174,554 212,622 5.180 6,039 9.187 11,391 103,598 120,771 183,741 223.813 688 $ 802 $ 1,221 % 1,087 F Footnotes: 1. Annual Loan Constant is based on a 7.5% (includes .5% for property mortgage insurance). 3&year fixed mortgage- 2. Purchase Price to be adjusted according to final uWity allowance established by the City or olher applicable programs; final home owners fee established by Real Estate Commissioner; final interest rate on loan and market conditions. cn W V s =d' m U crl * x z 0 -4 cn 0 --;I N 0 Po 0 CII -3 V w CITY OF CARLSBAD - ANALYSfS OF AFFORDABLE HOUSE PRICING (8ased upon 2000 HUD Median lncome Data Effective March 9,2000) f, Median County Income for a Family Of Four Persons (2000 HUD Median) . Times Percent of Median Qualifying for Affordable Equals Percent of Median lncome for a FarniIy of Four Persons Times ?ercent of Family Income Attributable to Housing Costs Equals Annual Dollars Allowed for Housing Expenses less Reat Estate Taxes (Annual 1.2% of Purchase Price) Less Home Owners Fee Less Utilities (2 bedroom) $120.00 X I2 mbs. E 26.00 X 12 mos. Equak Annual Dollars Available for Debt Sewice Divided by Annual Loan Constant {see Footnote #1) Equab Maximum Loan Amount That Can Be Used for Home Purchase Plus Down Payment - 5% Equals Maximum Allowable Purchase Price Bvyer's MonthLy Mortgage Payment - Debt Senrice Divided by 22 mos. LOW INCOME LOW INCOME MEDIAN MODERATE INCOME INCOME INCOME INCOME 53,700 53.700 53,700 53.700 70% 80% 100% 120% 37,600 42,950 53,700 64,450 33% 33% 35% 35% 12,408 14.174 ' 18.795 22,558 1.388 1,614 2.205 2.686 1,440 1.440 1,440 1,440 312 312 312 312 9,216 10,722 14,646 17,840 0.0839 0.0839 0.0839 0.0839 109,845 12'7.792 174.565 212.635 5,781 6,726 9. I88 11,991 223.826 134,518 183,752 1 15.626 6 768 $ 893 $ 1,220 $ 1,487 Footnotes: 1. Annual Loan Constant is based on a 7.5% (includes -5% for property mortgage insurance), 30-year fixed mortgage. 2. Purchase Price lo be adjusted accordmg to final interest fate on loan; final home Owners fee established by Real Estate Commissioner and market conditions. %Y m U crt > x z 0