WESTERFIELD TOWNHOUSES EQUITY SCHEDULE
NOTE: EQUITY INCREASE PER MONTH EFFECTIVE MARCH 1, 1992
Equity value is the equity that has built up in the townhouses since 1968. The equity schedule was written into the by-laws of the corporation when it was formed.
The incoming member pays the Membership Fee of $175.00 and the current Equity Value of the townhouse. Therefore when you vacate the townhouse, you are eligible to receive payment for your Membership Fee and the current Equity Value. A $85.00 Resale Fee will be deducted from the amount including charges for rehabilitation expenses, damages, carrying charges owed, etc.
The schedule shows the amount the incoming member pays based on unit size and the month they move in. This is the same payment vacating members are eligible for.