These questions and answers are a summary of what I believe to be are the currently Leisure World policies.  These policies may be changed at anytime by Leisure World and should be rechecked and confirmed just prior to entering into a purchase contract.

 What are the ownership / residency requirements?

·         At least 55 years of age (See below for age exception of Qualified Permanent Resident)

o    Must provide a passport or birth certificate and drivers license

·         Provide a letter from a Doctor stating they can live independently

·         Must provide proof of at least $25,000 in cash assets

o    Six consecutive months of bank statements

·         Fill out a membership application and have an interview with the Mutual Board

·         Pay One Time Membership Costs

o    1 person membership fee: $1330

o    2 person membership fee: $1795

·         The buyer must provide proof of a monthly income that is at least four (4) times greater than the monthly mutual fee plus 1/12^th of annual property taxes (based on 1.2% of the sales price).

·         Qualified Permanent Resident (exception to the 55 years of age requirement)

o    Persons under the age of 55 who can purchase with and reside in Leisure World with a person who is over 55 year of age

§  A spouse can be of any age

§  A non-spouse must be at least 45 years of age

·         Must meet the same income and cash assets as the primary owner

§  Must provide a doctors letter stating they are able to live independently

§  Must provide a passport or birth certificate and drivers license

o    Fill out a membership application and have an interview with the Mutual Board

o    Pay One Time Membership Cost

§  1 person membership fee: $465

·         Non-Owner Co-Occupant

o    Must be at least 55 years of age

o    Resides with a resident, but they do not have any rights of ownership

o    Pay One Time Membership Cost

§  1 person membership fee: $465

o    Must vacate the premises within 90 day of the death or hospitalization of resident

·         Non Resident Co-Owner

o    Title can be taken with one beneficiary.

o    This allows for the transfer of ownership upon the death of any of the persons within the title to the next person or persons on the tile, without benefit of a probate proceeding

o    The Nonresident Co-Owner is a beneficiary status only and does not come with any membership rights or privileges or right of residency

Do you rent/lease or buy your dwelling unit or apartment?

·         The Leisure World community is comprised of two types of property ownership:

o    The cooperative unit, (mutual 1 to 16) in which the owner is a shareholder in the housing corporation, and whose ownership is evidenced by one share of stock and the right to occupy the apartment.

§  These units must be purchased for all cash (no financing is allowed)

o    The condominium, (only in mutual 17) in which the owner has a deed to the apartment and an undivided interest in the Mutual's assets.

§  These units may be financed by lending companies

·         In both cases, the Mutual Corporation maintains the structure and related grounds.

What does it cost to live in the Leisure World community?  Are there monthly fees?

·         The seller of an apartment determines the value of the unit and charges that amount to the buyer.  In addition, there is a monthly fee called a Regular Assessment.  The Regular Assessment varies by Mutual depending upon the size, location and improvements made on the unit.  This may include exterior maintenance, landscaping, recreational activities, and security, among other items.  The monthly Regular Assessment is calculated each year.

o    The monthly Mutual Fee for 2010 are as follows:

§  Mutual 1 -   $313.57

§  Mutual 2 -   $301.77

§  Mutual 3 -   $278.00

§  Mutual 4 -   $291.65

§  Mutual 5 -   $266.47

§  Mutual 6 -   $258.02

§  Mutual 7 -   $299.34

§  Mutual 8 -   $272.21

§  Mutual 9 -   $271.09

§  Mutual 10 - $271.85

§  Mutual 11 - $263.45

§  Mutual 12 - $263.30

§  Mutual 14 - $266.95

§  Mutual 15 - $320.00

§  Mutual 16 - $298.45

§  Mutual 17 - $297.05

o    Additional monthly fees

§  Cable television - $19.99 (optional)

§  Sewage – $13.13

§  Property tax – this will equal 1.2% of the purchase price

·         If you bring in a lower tax basis from the sale of another California residence, your tax rate could be lower.

How large is the Leisure World community?

·         The Leisure World community covers 533 acres, or roughly 1 square mile.

How many people live in the Leisure World community?

·         There are approximately 9,000 residents in the community.

What is meant by cooperative housing?

·         Cooperative housing refers to the cooperative ownership of the Mutual's property by members who are shareholders in the Corporation.  Ownership of the stock may be inherited, transferred or sold, with the approval of the Corporation's Board of Directors.  The co-ops were developed with FHA guaranteed 40-year loans.

When was the Leisure World community built?

·         Construction began in 1960.  The first move-in occurred on June of 1962.

Are there any medical facilities included in the community?

·         Yes, there are.  The Health Care Center is located inside the community and features a full-service pharmacy, an on-site clinical laboratory, radiology services and a well-equipped physical therapy department. Services include geriatric medicine, gastroenterology, dermatology, geriatric optometry, psychiatry, orthopedics, urology, podiatry, general surgery, gynecology, rheumatology, ophthalmology, cardiology, pain management and internal medicine.

·         The Health Care Center also offers social services, 24-hour nursing, optical dispensing and 24 hour ambulance service.  For added security, a service called Lifeline is available from the Golden Age Foundation, for a nominal fee of $25.00 per month.  In case of emergency, this device can be used to alert members of the medical staff who will come to your immediate need.

Are pets permitted in the community?

·         Pets are permitted in the community subject to the rules and policies of the Mutual Corporations.  These rules and policies include, for instance, a limit to the number of pets per apartment, a maximum weight limit per pet and a current city pet license.

o    One quadruped pet is allowed

o    The maximum weight at maturity is 25 pounds (20 pounds in Mutual 17)

Are guests permitted to have lengthy stays in the community?

·         Yes, guests are permitted to visit residents in the community.  The governing policy states that guest visits are limited to a maximum of 60 days per calendar year and only while residents are in residence.  Guests may not bring pets into the community.

Are transportation services available in the community?

·         Yes, Leisure World has a fare-free mini-bus transportation system which services all areas of the planned community and the nearby shopping center every day.  Transportation on the wheelchair mini-bus is also available by reservation.  Other transportation services available include a no-fare, 37-passenger bus to-and-from The Shops At Rossmoor and Old Ranch Town Center; charter busses departing from the Amphitheater; courtesy transportation from several hospitals outside the community; and Orange County Transit District.

Upon the demise of an owner, what happens to his/her apartment?

·         It all depends upon how the title is held.  This is a very complex question, and is best answered by legal counsel.  Any sale or transfer of ownership must be approved by the Mutual's Board of Directors.

Is there a cost to use the recreation facilities, other than the monthly carrying charge?

·         It depends on the facility.  There is no fee to use the golf course, swimming pool or exercise room.  The various clubs hold their meetings and activities at the clubhouses at no cost; however, private parties require a refundable cleaning deposit.

What is the minimum age to move into the community?

·         In accordance with Section 51.3 of the California Civil Code, effective January 1, 1985, at least one person occupying a unit must be 55 years of age to qualify for occupancy.  Co-occupants must be at least 45 years of age except if a spouse or a medical or financial care provider.

Can the units be remodeled?

·         Yes, with the approval of the mutual Board of Directors, the city of Seal Beach and the Golden Rain Foundation.

o    Only licensed and insured contractors my be used

o    A list is available in the Physical Properties office

·         Remodeling includes

o    Changes to the structure, inside and outside, in the patio or in the garden areas

·         All electrical work will require approval

·         Once remodeled, the owner assumes full responsibility for all repairs to the non-conforming additions or alterations.  This also applies to all non-standard appliances

Can the units be rented?

·         Mutual 1, 3, 5 – 12 and 14 – 16 do not allow unit to be rented

·         Mutual 2 & 4 allows 90 day rentals only to other owners who are remodeling their units and need housing until the remodeling is finished

·         Mutual 17 allows only 10% of the 158 units to be leased on a year to year basis

Where can the new buyer park their recreational vehicle?

·         Contact the Leisure World Trailer Club for space availability and storage in the Leisure World Trailer Park

Where can guests park recreational vehicles?

·         Obtain permission for the security office

o    Park at club house #4 for a maximum of two weeks

Are there parking facilities for my vehicle(s)?

·         Each unit is assigned one parking stall with a small storage space.  There is parking on some streets in the community, as well as parking for recreational vehicles in a designated area.

Arts and Crafts

•           Art Classes

•           Art League

•           Clay Crafters

•           Creative Writers

•           Enter Laughing

•           Fiction Writers Critique Group

•           Knit and Crochet

•           Lapidary and Jewelry Making

•           Leisure World Theater Club

•           LW Senior Fashion and Style

•           Photographic Arts

•           Poetry Workshop

•           Quilting Bees

•           Rug Hooking / Working with Wool

•           Theater Club

•           Wednesday Ceramics

•           Wood Shop Clubs

Bridge

•           Bridge Duplicate

•           Bridge, ACBL Duplicate

•           Burning Tree Duplicate Bridge Club

•           Combined Bridge

Cards and Games

•           Best Time Bunco

•           Boxcar Dominoes

•           Bunco Social Club

•           Chess

•           Cribbage

•           Diamond Poker Club

•           Euchrites

•           Leisure Girls Mahjong

•           Mahjong

•           Pinochle

•           Pinochle Friendly

•           Scrabble

•           Tournament Poker

Dance

•           Ballroom Dance

•           Dancers and Mixers

•           Hui O Hula

•           Leisure Time Dance

•           Line Dance

•           LW Cloggers Club

•           Stage Dance Club

•           Tap Dance

•           TGIF Ballroom Dancing

•           West Coast Swing

•           Western Line Dance

•           Whirlers - Square Dance

Education

•           Continuing Education forum

•           Current Events

•           Investment Forum

•           LW Historical Society

•           Open-Mind Forum

•           Science Discussion Club

•           World Affairs Forum

Hobbies and Sports

•           Amateur Radio Club

•           Astronomy

•           Coin

•           Computer Club

•           Garden Club

•           Genealogy Workshop

•           Golf, Men's

•           Golf, Women's

•           Lawn Bowling

•           Leisure Leggers

•           Leisure World Bowling Club

•           LW Karaoke

•           Mini Farmers

•           Photographic Arts

•           Pool and Billiards, Men's

•           Pool, Lady's "Q"

•           Shuffleboard

•           Stamp

•           Swim Club

•           Table Tennis

•           Trailer Club

•           Video Producers

•           Worldwide Travel Club 

Music

•           Community Sing

•           Dixieland Jazz Club

•           LW Symphony Orchestra

•           Music Appreciation

•           Ukulele Neighbors Club

Nationality

•           Britannia Club

•           Chinese Friendship Club

•           German American

•           Italian American

•           Korean American Fellowship

•           Nikkei Club

•           Slavic

•           Spanish

•           Touch of Dutch

•           Vietnamese Club

Occupation

•           California Retired Teachers Association

Political

•           Democratic

•           Republican Women, Federated

•           Saving Our Seniors Benefits

Religious

•           Chinese English Bible Study Fellowship

•           Christian Fellowship and Fun Club

•           Holy Family Parish (Catholic)

•           LDS Family Home Evening

•           Little Flower Guild

•           Our Lady of Africa Mission Guild

•           Religious Science Study Group

•           St. Theodore of Canterbury Episcopal Church

•           Unitarian Universalist Fellowship

Self Improvement

•           Aerobics

•           Feeling Good

•           Fun & Fitness Club

•           Impaired Vision and Hearing

•           Parkinson's Support Group

•           Relax and Alert Meditation

•           Senior Fitness

•           Tai Chi, Tai Chi Chuan

•           Wa-Rite

Service Oriented

•           AARP Safe Driver

•           American Legion Auxiliary

•           American Legion Post 327

•           Concerned Share Holders

•           Joy Klowns

•           Kiwanis

•           Panhellenic

•           Parkinson Support Group

•           PEO, Chapter RT

•           Pet Lovers Club

•           Salvation Army

•           Senior Patriots Against the War

•           St. Jude Support Group of Leisure World

•           Translators' Club

•           Veterans of Foreign Wars Post 4048

•           Veterans of Foreign Wars Post 4048, Ladies Auxiliary

•           Y's Men

Social

•           Eastern Star Card Club

•           Friendly Couples

•           Gadabouts

•           GAF Hospitality Center

•           LW Phil-Am Social Club

•           Masonic Family Club

•           Schmooze Club

•           Women's Club

•           Yiddish Club

State

•           Kansas

•           New York