Questions Regarding Cottages Ownership at Lithia Springs

1. May I Buy Less than Full Ownership of a Cottage? Yes! We've crafted a practical alternative to full-ownership of a vacation home with all the benefits of ownership but without the attendant work and responsibilities.
   1. During the last decade, the trend has been to take a series of mini-vacations instead of multi-week vacations. At Lithia Springs, you are able to purchase the Vacation Ownership that fits your vacation needs. So you may purchase a whole cottage or a half a cottage on down to the smallest share we sell, a 1/17 share, which equates to 3 weeks of vacation use a year.
   2. That hard work of full-ownership will be taken care of by the Lithia Springs Resort and the Owner's Club.
      
      
2. How is My Vacation Time Spread Around the Year? Each 3-week ownership share will have one week of vacation in each of the 3 Seasons. These Seasons are:
   1. The Festival Season is the period when all the theaters are open and generally begins the week that the outdoor Elizabethan Theater opens in June, extending for seventeen weeks of summer, until mid-September.
   2. The Spring Shoulder Season begins in February with the opening of the Shakespeare Festival indoor season and goes to mid-June. The Autumn Shoulder Season begins in early September and goes into mid-October.
   3. The Harvest - Holiday Season includes the wine harvest season, the holidays, and the winter sports seasons, running from mid-October to the middle of February.
      
      
3. What if I prefer a 3 or 4 day getaways instead of week-long vacation?
   Any of your weeks (above) can be broken into two shorter periods if desired; a four-day weekend stay beginning on a Thursday, and a three-day weekday stay beginning on a Monday. That way, if you buy a 17th share, it can be used for as many as six getaways, spread throughout the year.
   
   
4. Who Manages and Maintains My Cottage? Lithia Springs Inn LLC will manage and maintain your cottages just as they do now. We've set up a defined rotation schedule that maximizes your ability to choose your vacation time when you want it and ensures that your cottage is ready for you when you arrive.
   
   
5. Will Maid Service be provided? Yes, daily maid service will be included in your annual dues, with full linen service mid week.
   
   
6. Will Breakfast be Available? Yes you will still be able to enjoy Cheryl's breakfast each morning of your stay, available on an "as-desired basis" with a discount for cottage owners. In addition to breakfast, there will also be other services available including wine tastings, Room Service Spa treatments, beverages, and snacks.
   
   
7. What if I can't use all of the weeks I am entitled to? If you can't use one of your weeks, the Inn will offer it for rent by Inn guests. If rented, you will receive 55% of the net rental income. Plus you may gift your Planned Vacation time to your family or friends as long as you make the reservations and let us know ahead of time.
   
   
8. What is the difference between Fractional Ownership and a Time Share?
   You and the other buyers are the exclusive owners of The Lithia Springs Owners Club, the legal entity registered in Oregon that owns all of the 8 cottages. All such Fractional Ownership programs are closely regulated by the Oregon Real Estate Commission to protect the buyers under the time-share rules. In the Lithia Springs fractional program, just as in a time-share, one has a right of "use" of the property. In this case, one also has ownership in the entity owning the property as well.
   
   
9. Will There Be a Mortgage or Debt on The Cottages? No. In compliance with State Law, all 8 cottages will have been conveyed to the Owner's Club free of any mortgage or debt.
   
   
10. May I Sell My Ownership Interest When My Vacation Needs Change? Since you own your ownership interest you may sell it at any time or pass ownership to your children or grandchildren. During the term of our sales program, we are available to assist you and will reserve 1 of every 11 sales for such re-sales. However, you are not obligated to sell it through us and may sell it yourself or through a local realtor.
    
    
11. How is the Maintenance and Up-Keep Handled? Per Oregon Law, the Developer and a Certified Public Accountant have prepared a budget for the Lithia Springs Owners Club, which includes consideration of maintenance and repair of the Club Property. As a part of that budget the CPA, who is also a Reserve Study Specialist as designated by the Community Associations Institute, has prepared a Reserve Study that requires annual funding from the dues to repair, replace, or rejuvenate all features of the property on a periodic basis. In that manner, your monthly dues are building a reserve fund to be used to keep the facility in a like-new condition for its life.
    
    
12. I See a Patio in the Pictures. Does Each Cottage Have Its Own Patio? Yes, each cottage has its own private patio opening off the bedroom.
    
    
13. Is There Any Type of Kitchen or Kitchenette? Yes, there is a small kitchenette with a refrigerator, sink, microwave, and dishware.
    
    
14. If Multiple Shares are purchased are the Annual Dues Less?
    Yes, the yearly dues are $1,493.00 per year for the first share and $1,293.00 per year for every share thereafter under common ownership.
    
    
15. Who do I contact for more information about Cottage Ownership? Please call us at 800-482-7128 and ask to speak to us regarding Cottage Ownership. Or see us online at www.CottagesLSR.com and request our Cottages Ownership Information Materials.