CRANE DEVELOPMENT, LLC  405 W Prairie View Road, Chippewa Falls, WI 54729  Phone: 715-723-7175, E-mail:
Executive Summary

SUMMIT PARK CONDOMINIUMS

201-211 Summit Park Drive
Chippewa Falls, WI 54729

DEVELOPER: CRANE DEVELOPMENT, LLC

405 W. Prairie View Road
Chippewa Falls, WI 54729

ASSOCIATION: SUMMIT PARK CONDOMINIUM ASSOCIATION, INC., a Wisconsin non-stock corporation

This Executive Summary highlights some information that prospective condominium purchasers are most interested in learning, as well as some of the information that they should consider when contemplating the purchase of a condominium unit. The information below either briefly summarizes pertinent information by answering the questions asked, directs prospective buyers to specific sections of the condominium disclosure materials that discuss each topic in further detail, or may be completed to both summarize the information and to refer to the condominium documents. This summary, however, is not intended to replace a purchaser’s review of the condominium declaration, association bylaws, and other condominium disclosure materials, nor is it a substitute for a professional review of the condominium documents. As used in this Executive Summary, the “Declaration” means the Restated Declaration of Covenants, Conditions, Easements and Restrictions for Summit Park Condominiums, executed by Crane Development Company, LLC (the “Declarant”) on December 16, 2010, which was recorded in the office of the Register of Deeds for Chippewa County, Wisconsin, on January 10, 2011, as Document Number 790292, and any amendments thereto. As used in this Executive Summary, the “Bylaws” means the bylaws of the Association, and any amendments thereto.

1. Condominium Identification: Summit Park Condominiums

2. Expansion Plans: The condominium consists of six (6) basic units consisting of approximately 1,594 square feet, with two (2) bedrooms and two (2) baths and a 1,594 square foot unfinished, roughed in basement each, with 550 square foot double garages (each of which is individually referred to as a “Unit” and all of which together are referred to as the “Units”). The Declarant did not exercise its right to expand the number of Units in the Condominium prior to expiration of its ten (10) year expansion period which commenced on April 12, 2001. Pursuant to the Declaration, the Declarant had the right to expand the total number of Units to seven (7) during said expansion period.

3. Governance: The condominium is governed by Summit Park Condominium Association, Inc., a Wisconsin non-profit corporation (the “Association”). The Association is managed by the Declarant or the Declarant’s management company. The members of the Association are the Declarant and the owners of Units in the condominium. The Association’s mailing address is 405 W. Prairie View Rd., Chippewa Falls, WI 54729. For information about the Association, you may contact: David Crane, 405 W. Prairie View Rd., Chippewa Falls, WI 54729, telephone (715)723-7175; www.chippewacondos.com.

4. Special Amenities: None.

5. Maintenance and Repair of Units: Each Unit owner is responsible for maintaining, repairing, and replacing all improvements constructed within the Unit such as interior walls, floor coverings, drywall, and plumbing, electrical, heating, and air conditioning systems.

6. Maintenance, Repair, and Replacement of Common Elements: The Association is responsible for the maintenance, repair, and replacement of Common Elements and Limited Common Elements of the Condominium, and it may be contacted as set forth in item 3, above. The cost of maintenance, repair, and replacement of Common Elements and Limited Common Elements will be funded from Unit assessments.

7. Rental of Units: Unit owners may rent their Units for occupancy by not more than one family (as such term is defined in Article VII, Section 1(a) of the Declaration) for a period not less than six (6) months, subject to the provisions of the Declaration.

8. Unit Alterations: The Declaration contains no specific restriction on alterations within the boundaries of Unit; provided, however, that no Common Area or Limited Common Area may be altered or enclosed without the written consent of the Association accordance with the provisions of Article VII, Section 1(h) of the Declaration.

9. Parking: Pursuant to the provisions of Article VII, Section 1(f) of the Declaration, Owners and their overnight guests may have three (3) vehicles on the premises at any one time, and two (2) vehicles must be parked in the garage included with the Unit. The third vehicle, if any, must be parked in the Unit's driveway; provided any vehicle parked in the driveway shall be currently registered and in operating condition. Guests of an Owner may park in the Owner's driveway or on the street, as permitted by local ordinance.

10. Pets: Pursuant to the provisions of Article VII, Section 1(e) of the Declaration, no animals, including dogs, livestock, or poultry of any kind shall be raised, bred, or kept on the Property, except that each Owner-occupied Unit may keep up to two (2) cats and small household fish and birds such as canaries or parakeets as allowed by applicable local ordinances, provided that they are not kept, bred, or maintained for any commercial purpose.

11. Reserves: The Condominium does not currently maintain a statutory reserve account under Section 703.163 of the Wisconsin Statutes.

12. Fees on Units: Units are exempt from assessments until sold by the Declarant.

13. Amendments: A Unit purchaser’s rights and responsibilities may be altered by an amendment of the Declaration or the Bylaws. The Declaration may be amended by vote of the Owners of not less than two-thirds (2/3) of the Units following sale of all Units by the Declarant. Prior to such time, the consent of the Declarant is also required for an amendment. The Bylaws may be amended at a meeting of the Association by an affirmative vote of sixty-seven percent (67%) of the members of the Association, provided that no amendment may alter or abrogate the rights of the Declarant. (see Article VIII of the Bylaws for further details).

Prepared by:

Jane E. Lokken, Attorney at Law
Ruder Ware Law Firm
402 Graham Avenue, P.O. Box 187
Eau Claire, WI 54702-0187

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