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�• • LIVE CARE-FREE ... M~INTENANCE FREE!! AH this is yours in a ... LONDON TOWNE HOUSE ATTRACTIVE EXTERIORS ... Your London Towne House and those of your n~igbbors will always look attractive and well-kept-with a minimum of time and attention. The exteriors are of aluminum siding and face brick . .. exterior d!llots are protected by aluminum screen doors ... patios have side privacy fences. BEAUTIFUL GROUNDS ... When you move into your Towne House, you move into a completely landscaped home. And what a wonderful place for children! -with safe, fully equipped play areas provided. All streets are paved .. . with curbs and gutters ... and ample privat , lighted, off-street paved parking areas serve residents and guests. DELIGHTFU INTERIORS ... Inside each Towne House are a host of desirable custom-type features. Here's everything you've always wanted in a home- BED.ROOM .. . Peaceful sleep is assured in every bedroom because extra care was taken to Sound Condition the walls of your town house. The huge master bedroom is typical of the spaciousness you will find throughout. furniture finished wood kitchen cabinets with formica counter tops; full size Hotpoint refrigerator and luxurious Sunray double oven tri-level gas range; hardwood and parquet flooring throughout; exhaust fan in kitchen . .. some models with extra half baths; twin round sinks set in six-foot marble type vanities with plate glass mirrors in the bathrooms; foldfag closet doors; copper plumbing; some with full basements; balconies; and gas forced warm air heat. NO ADDITIONAL MAINTENANCE EXPENSES .. . You save money living at London Towne Houses because your home, except for interior redecorating and any improvements you may decide to install yourself, is maintained for you with all costs included in your low regular monthly payment. And all plumbing. heating, electrical equipment and appliances supplied with your home are repaired and when necessary replaced for you at no extra cost. BATH . . . With such features as a marble top vanity with twin sinks, the classic richness of dram atical ! styled bathrooms will bring sighs of delight from admiring guests . KITCHEN ... Start with a giant Hotpaint refrigerator, add o beautiful color coordinated tri level oven and range, mix artfully with beautifully grained hand rubbed wood cobinets and you have the perfect recipe for the most ultra modern kitchen ever designed! �Lon on owne Live Like Never Before In A Honie of Your Own . Cooperative housing has spread rapidly across the nation because it provides more luxurious living than a single family can afford by themselves. Year 'round maintenance is covered in your monthly payments. Such tireson:ie chores as lawn and shrub care, plumbing, h ating and electrical repairs, mamt~nance of all community areas are taken care of for you by the cooperative management. Living in a London Towne House is a new carefree living experience. But now, you may wonder, in this era of rising prices, can a family find so much luxury at so little cost? ouses The answers lie in three important categories. 1. "Volume Buying" . . . made possible through cooperative home owAership purchasing power. 2. "Land Utilization" . . . in Townhouse living arrangements, expensive property is utilized to its fullest extent. 3. "Low Interest Rates" ... especially designed for this program. You don't have to be a millionaire to live like one. If you can qualify make the smart move into a London Towne House. London Towne Houses are located in a fine residential area near Gordon Road just off Boulder Park Drive and Brownlee Road. LONDON TOWNE HOUSES Ideally Located Churches of many denominations are convenient to Cooperative residents. Nearby are Shaw Temple (A.M.E. Zion), Union Baptist Church, St. Paul of the Cross Catholic Church, Jackson Memorial Baptist Church, Radcliff United Presbyterian Church, Southwest Christian Church, and Berean Seventh-Day Adventist Church. Several shopping centers and late hour convenient curb stores are located nearby to provide residents of London Towne Houses with all the services and necessities for comfortable living. Downtown Atlanta employment and shopping is also only minutes away via the Interstate 20 Expressway. London Towne Houses is near a number of city and private schools for children of all ages. West Haven, Margaret Fain and West Manor Elementary Schools, as well as Harper High and South West High are easily accessible to the London Towne Houses location. Under construction are the new Peyton Forest Elementary and Simpson-Hightower High Schools. Within a few miles of London Towne Houses residents may enjoy a variety of recreational activities including tennis, golf, baseball, swimming and picnicking. Mozley Park, West Manor Recreational Center, Adamsville Community Building, and Washington Park Tennis Center are presently serving this area. Two new Parks to be loca ted on Peyton Road and Collier Road are scheduled in the near future. For those golfing enthusiasts the Adams Park Golf Course (18 hole) is just four miles away. ��COMPARE THE ADVANTAGES OF MODERN COOPERATIVE LIVING AT London Towne Houses LONDON TOWNE HOUSES IF YOU RENT FROM A LANDLORD COOPERATIVE PLAN IF YOU OWN AN INDIVIDUAL HOUSE MONTHLY COST Your monthly payments are amazingly low. You pay only actual costs. Your la ndlord charges as much as he can get. Individual buying means higher monthly cost to you. TOTAL COST Costs are cut to the bone; longest mortgage term, special low interest rate, controlled builder fee, no closing costs . Your rent includes high cost of commercial construction, financing, and landlord's profit! Individual mortgages have higher payments, higher interest rate, uncontrolled profits, substantial closing costs. OWNERSHIP The residents are the sole owners of the property. You occupy the towne house of your choice as long as you wish . You own nothing ( except a pile of rent receipts). You own-and are completely responsible and liable fo r -your house. LIABILITY You have no personal liability on a mortgage or note. You have no personal liability. You are personally liable for the mortgage and note. MAINTENANCE Your cooperative takes care of your towne house inside and out ( except for redecorating). You have no control over maintenance standards . You ar~ full y responsible for all costly repairs and mamtenance. MANAGEMENT E~ch co-op family has one vote in election of directors. Business affairs are handled by a professional management firm . You h ave no voice whatever in the management or policy. You alone are completely responsible for all decisions ... and mistakes. COMMUNITY CONTROL You help establish policy, rules and standards for your community. You have no control. You have no jurisdiction except in court at your expense. IF YOU HAVE TO MOVE You give 60 days notice. Your co-op will purchase your membership, or sell it for you, for a small fee to cover overhead expense. You are bound by the lease drawn up by the land lord. You must sell your house yourself and pay large brokerage fees. EQUITY The value of your membership increases under an equity formula written into your co-op bylaws. You can m ake improvements in your towne house and garden area and get credit for them on resale. You deduct from your income tax report everything paid for interest and real estate taxesalmost two-thirds of all you pay. For the average member this deduction will make possible a savings of about $ 1O per month if you itemize your deductions. You ga in no equity. Whether you realize any equity depends on market factors beyond your control. Any improvements you are allowed to make belong to your landlord. Same as co-op. You get no income tax benefit. Same as co-op. · IMPROVEMENTS TAX BENEFIT . ..• CAPITAL GAINS If you sell a house and then buy a co-op memhership, you obtain the capital gains deferment benefit. You must pay the full capital gains tax. Same as co-operative homeowner. REPLACEMENTS Money is waiting in the bank in your reserve funds to replace items as they wear out. The landlord decides when, and if, to make replacements. Yo:.i have to foot the bill for replacements. �WHERE YOUR MONEY GOES ... Each penny in your monthly payment Your Exclusive London Towne Houses Community· Club House is carefully allocated to provide you with the finest housing at the lowest possible cost . . . all on a non-profit basis. Your monthly payment covers all expenses and reserve funds . . . there is nothing else to pay and a subtantial portion is tax-deductible. special purpose rooms there is also a convenient coin operated laundry as well as a main lounge and kitchen. Serving as the focal point for social life and Community activities your London Towne Houses Club House will provide many hours of enjoyment. The London Towne Houses Community Clubhouse and recreation center is available for you and your guests to enjoy various activities planned throughout the year. The Club House building contains the London Towne House Cooperative office and in addition to various

Mortgage Interest ____________________43 %

Real Estate Taxes ____________________ 16 %

Mortgage Principal __________________ 19 % Maintenance ____________________________ l 2 % Reserve Funds ________________________ _s % WCOHY Administration __________________________ 5 % Landlord's profit _____________________0 % 100 % COOPERATIVE COIN LAUNDRY

tax deductible items

15 °x 19' ' COMMUNITY I MEETING RECREATION HALL • I 38'x 19' I COOPERATIV E 12·x 12' MANAGEMENT OFFICES u 'x 12' LOBBY MEETING 13'x 12' ROOM CLUB ROOM 13'x 12' .... PORCH -- --- - - reprinted from t he Internal Re venue Service Official Instr uctions �LONDON TOWNE HOUSES WILL BE A COMMUNITY, OWNED AND OPERATED BY THE PEOPLE WHO LIVE THERE. N I These questions and answers tell how it works. WHAT IS A HOUSING COOPERATIVE? A cooperative is a business owned by the people who use it. You may belong to other co-operatives, such as credit union or mutual insurance company. Each member of London Towne Houses has an equal vote in the cooperative corporation which holds title to the property. A Board of Directors is elected by and from the residents. The Board establishes standards to keep the community a pleasant place in which to live. IS IT LIKE RENTING? Yes, in terms of convenience. You make one payment a month - easy as rent _ without worrying about insurance, taxes, mortgage payments or mainten ance. It's luxury living without a landlord, therefore, cooperative <a living is better than renting in many ways. 23 22 IS IT LIKE OWNING A HOUSE? 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. SCHOOLS West Haven Elem. School Margaret Fain Elem. School West Ma nor Elem. School Harper High School Southwest High School St. Paul of the Cross Elem. School Haugabrooks Academy Elem. School Blayton Business College CHURCHES Shaw Temple (A.M.E. Zion) Union Baptist Church St. Paul of the Cross Catholic Church Jackson Memorial Baptist Church Radcliffe United Presbyterian Church 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. SHOPPING, RECREATION & COMMUNITY SERVICES Gordon Plaza Shopping Center Adamsville Shopping Center Mozley Park West Manor Recreation Center Adamsville Community Bldg. Washington Park Tennis Center Adams Park Golf Course John A. White Golf Course Greenbriar Shopping Center Holy Family Hospital FCH SERVICES . I NC. - - Cooperative Representatives and Sales Agents Telephone 758-0811 ~ '"J,. \ r.·_~.~~-··~!~S-,..~Ul.t_r.;1~)'.:~ ..~._....J..~~h~L'~I..L.1/.,'.1..:.:·~ '. 1 - - • 'I ,:, - , PLUS, your accumulated equity, in accordance with an equity increase table written into your cooperative by-laws . WHO MAINTAINS THE PROPERTY? The Board of Directors sets maintenance standards and retains a professional property management firm to supervise the maintenance staff. Except for interior redecorating to your own taste, your home is maintained for you. Complete exterior care includes structural repairs, lawn and shrubbery care, trash removal and outside painting. Major interior repairs include routine handyman work , maintenance of plumbing and electrical systems, and structural repairs and replacements. Appliance repair, maintenance and replacement-for all appliances furnished with your home. Yes , in many ways. 14. Southwest Christian Church 15. Berean Seventh-Day Adventist Church ~ • - If you move from London Towne Houses, the cooperative has first option to purchase your membership. You receive : Your membership deposit (less any obligation you owe the cooperative) plus the value of authorized improvements. I • , • ( • '~ An individual owner . has to be a handyman, and has to foot the bill for repairs but at London Towne Houses your fi'o me is taken ca,re of for you, except for redecorating. An individual owner is personally liable for hi s mortgage while at London Towne Hou ses you have NO personal liability for the cooperative's mortgage. It's expensive and time-consuming to sell an individual hou se, if you can find a buyer. Broker's fees and other costs often run 10 percent of the sale price. At London Towne Hou ses, you give notice if you want to move, and a modest resale charge is all you pay. CAN I BUILD AN EQUITY? YES! At London Towne Houses-your membership does regu larly increase in valu e. WHO OWNS THE CLUB HOUSE? The London Club House is owned exclusively by the residents of the development for use by them and their guests. Every cooperative member is automatically entitled to the use of all facilities in accordance with cooperative rules. HOW CAN I BECOME A MEMBER? Simpl y fill out an application at the London Towne Houses information center. A refu nd able deposit of $ 135.00 wi ll reserve the home of your choice. A non-refundable process fee of $ 10.00 is paid with each application. Each applicant mu st meet credit req uirements of the Federal Housing Admi nistration. When you move in, you make your first monthly payment. ,'ft Built by: THE DIAMOND & KA YE BUILDING CO. �