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GENERAL INFORMATION CONCERNING THE CONDOMINIUM
1. Description of Condominium.
a. Introduction. The Developer pursuant to this Offering is CRESCENT HEIGHTS X, INC., a Florida corporation. It is specifically understood that this offering is limited to the Units contained herein and does not encompass any other property owned by the Developer. All references in this Offering to Developer shall be deemed to mean CRESCENT HEIGHTS X, INC., a Florida corporation.
b. Use of Property. Pursuant to this Offering, Condominium Units ("Units") shall be offered for transient as well as residential use.
c. Name. The name of this Condominium is CASTLE BEACH CLUB, A CONDOMINIUM, located at 5445 Collins Avenue, Miami Beach, Florida 33140.
d. Description of Condominium Property. The Condominium contains one (1) building located at 5445 Collins Avenue, Miami Beach, Florida. The building is seventeen (17) stories high, containing a total of five hundred seventy five (575) Units, of which five hundred thirty nine (539) Units are Residential Units and thirty three (36) [sic; printed "thirty three" over the numeral 36] Units are Commercial Units. Of the Residential Units, twenty (20) Units are One Bedroom/One Bathroom Units, fifteen (15) Units are One Bedroom/One and a Half Bathroom Units, seventeen (17) Units are One Bedroom/Two Bathroom Units, eight (8) Units are Two Bedroom/Two Bathroom Units, thirty seven (37) Units are Studio/One Bathroom Units, and four hundred forty two (442) Units are Hotel Room/One Bathroom Units. Of the Commercial Units, fourteen (14) are Cabana Units. Floor plans of the Units are attached as Schedule 9 of this Offering Plan. Dimensions set forth in said floor plans, however, are approximations only and subject to modification. The actual plans and specifications of the Condominium are available for inspection at the Developer's office upon request. For a more complete description of the number of Units and number of bedrooms and bathrooms in each Unit, please refer to Schedule "2" attached to this Prospectus.
Subject to the provisions of the Declaration of Condominium regarding the conversion of Residential Units to Commercial Units and vice versa, the maximum number of Units contained within this Condominium shall be five hundred thirty nine (539) Residential Units and thirty six (36) Commercial Units.
In the event of an amendment by the Developer to change the number of Units in accordance with Article 4.02 of the Declaration of Condominium, the foregoing information shall be deemed revised in accordance with such amendment.
e. Legal Description of Condominium/Survey, Plot Plan and Graphic Description of Improvements. The legal description of the Property to be submitted to a condominium form of ownership is attached as Exhibit "A" to the Declaration of Condominium. The Survey, Plot Plan and Graphic Description of Improvements are also attached as Exhibit "A" to the Declaration of Condominium.
f. Latest Estimated Date of Completion of Construction, Finishing and Equipping. The latest estimated date of completion for construction, finishing and equipping the Units and the Common Elements is June 30, 1992 for existing Units and Common Elements, and June 30, 1993 for new Units being constructed.
2. Maximum Number of Units That Will Use Facilities in Common with the Condominium.
As previously indicated, the maximum number of Units in this condominium is five hundred thirty nine (539) Residential Units and thirty six (36) Commercial Units.