| Index |
THE LAUREN, A CONDOMINIUM
Supplementary Information on Future Major Repairs & Replacements
December 31, 2003
(Unaudited)
An independent engineer conducted a study in 2000 to estimate the remaining useful lives and the replacement costs of the components of common property. Replacement costs were based on the estimated costs to repair or replace the common property components at the date of the study. Estimated current replacement costs have not been revised since that date and do not take into account the effects of inflation between the date of the study and the date that the components will require repair or replacement.
The following information is based on the 2000 study and presents significant information about the components of common property. The study was updated in 2003.
|
|
Estimated
|
Estimated
|
Component
|
|
Components |
Life (Years) |
Cost |
12/31/2003 |
|
Exterior Building Replacement |
|
|
|
|
Asphalt replacement |
10 |
$ 12,925 |
$ 10,682 |
|
Awning, front entrance |
10 |
11,000 |
9,091 |
|
Brick, tuck pointing |
1 |
116,620 |
96,391 |
|
Chain link fence |
1 |
2,160 |
1,786 |
|
Concrete flatwork |
2 |
5,945 |
4,911 |
|
Concrete ramp and elevator (ADA) |
30-50 |
37,249 |
(57,516) |
|
Deck, wood and carpet, roof with metal railing |
10-20 |
61,800 |
(51,189) |
|
Gate and operator, parking lot |
18 |
4,500 |
3,720 |
|
Light fixtures, exterior |
2 |
1,650 |
1,364 |
|
Pool mechanicals, painting |
1-3 |
5,910 |
4,885 |
|
Roof |
20 |
136,350 |
(180,120) |
|
Sealants, partial replacements |
1 |
56,550 |
46,738 |
|
Windows, common areas |
12 |
31,290 |
(21,139) |
(Continued)
Page 14
THE LAUREN, A CONDOMINIUM
Supplementary Information on Future Major Repairs & Replacements (Continued) December 31, 2003
(Unaudited)
|
|
Estimated
|
Estimated
|
Component
|
|
Components |
Life (Years) |
Cost |
12/31/2003 |
|
Interior Building Elements |
|
|
|
|
Apartment, renovations |
3 |
$ 7,500 |
$ 6,199 |
|
Appliances, laundry room, apartment and offices |
|
16,500 |
13,637 |
|
Bathrooms, renovations |
|
10,200 |
8,430 |
|
Doors, internal and external |
11 |
42,000 |
34,712 |
|
Garage |
1-7 |
116,725 |
96,470 |
|
Hallway renovations |
2 |
63,600 |
52,564 |
|
Lights |
15 |
14,950 |
12,357 |
|
Lobby renovations |
11 |
35,150 |
25,750 |
|
Mail boxes |
1 |
21,400 |
17,686 |
|
Offices, renovations |
6 |
13,650 |
8,985 |
|
Painting, stairwells |
1 |
7,800 |
(2,146) |
|
Building Systems |
|
|
|
|
Air handler |
9 |
10,500 |
3,648 |
|
Boilers, replace existing |
1 |
105,600 |
69,190 |
|
Cooling tower, replacement |
14 |
65,000 |
50,700 |
|
Electrical wiring, invasive study |
1 |
25,200 |
14,727 |
|
Elevators, upgrade |
7 |
120,000 |
99,177 |
|
Fan coil unit convector pans |
1 |
16,800 |
4,638 |
|
Fire alarm system, upgrade |
1 |
35,000 |
28,926 |
|
Interphone system |
1 |
10,250 |
8,472 |
|
Pumps, trash compactor, condensers and fans |
4 |
34,200 |
25,632 |
|
Riser sections, partial replacements |
10 |
87,000 |
14,840 |
|
Security system, upgrade |
4 |
18,900 |
15,619 |
|
Trash chute and doors |
15 |
31,350 |
25,909 |
|
Waterheaters and storage tanks |
6 |
44,600 |
26,346 |
|
Reserve study update with site visit |
2 |
3,750 |
698 |
|
Total |
|
$ 1,441,574 |
$ 532,770 |
Page 15
| Index |